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Keyword: energy

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  • Turkish dealers helping ISIL earn $1 million per day from oil: US Treasury

    10/24/2014 5:31:05 AM PDT · by DeaconBenjamin · 4 replies
    Hürriyet ^ | October/24/2014
    The Islamic State of Iraq and the Levant (ISIL) is earning about $1 million a day from black market oil sales, the United States has said, vowing to impose harsh sanctions on the purchasers of the oil, “including middlemen from Turkey.” “With the important exception of some state-sponsored terrorist organizations, ISIL is probably the best-funded terrorist organization we have confronted,” David Cohen, U.S. Treasury Department undersecretary for terrorism and financial intelligence, said in a speech at the Carnegie Endowment for International Peace in Washington on Oct. 23. “It has amassed wealth at an unprecedented pace.” ISIL is generating tens of...
  • Obama Wages War on American Fracking: US Senate Republicans

    10/23/2014 8:56:04 PM PDT · by Up Yours Marxists · 12 replies
    RIA Novosti (Reuters) ^ | October 24, 2014 05:41 GMT | Jonathan Ernst
    WASHINGTON, October 24 (RIA Novosti) - US President Barack Obama along with environmental activists is waging an all-out assault on American oil and gas production and hydraulic fracturing, a report published by the US Senate Committee on Environment and Public Works (EPW) said. "This strategically organized alliance [between the Obama administration and far-left environmental activists] has gone to great lengths to misconstrue facts, falsify science, and manufacture risks in order to vilify hydraulic fracturing with the long-term goal of ending the production of the nation's oil and natural gas resources," the 111-page report published Thursday said. Two weeks before the...
  • Russia Will Be Plunged Into A Recession If Oil Prices Fall Further [Fracking stops Putin Empire]

    10/24/2014 3:45:20 AM PDT · by elhombrelibre · 17 replies
    Business Insider ^ | 22 Oct 14 | Tomas Hirt
    Russia will struggle to avoid falling into a recession if oil prices are allowed to drop to $80 a barrel — and could face calamity if prices fall below that level. Brent crude oil prices have fallen from a June high of $115 a barrel to just over $86 a barrel Wednesday. This poses a huge problem for Russia as oil and gas account for around two-thirds of total exports from the country:
  • Greens Licking Their Lips Over Carbon Tax Revenues

    10/23/2014 8:48:31 AM PDT · by rktman · 6 replies
    canadafreepress.com ^ | 10/22/2014 | Institute for Energy Research
    A recent blog post on Sightline, an environmental blog in the Northwest, celebrated the gusher of dependable revenue to Washington State flowing from a steep carbon tax. The post showcases just why a carbon tax is a dangerous policy. As we at IER have been warning for years, the advocates of a carbon tax are fooling themselves if they think it will be calibrated to the “optimal” level reflecting the “negative externality” of greenhouse gas emissions. And in this debate the most foolish of all are the handful of vocal conservatives claiming that a new carbon tax will be used...
  • Senator: Time to rethink our emergency oil stockpile

    10/23/2014 10:33:18 AM PDT · by thackney · 19 replies
    Fuel Fix ^ | October 23, 2014 | Jennifer A. Dlouhy
    Sen. Ron Wyden wants the United States to rethink the size and scope of its emergency oil stockpile. Because a surge of domestic oil production has pared the United States’ reliance on foreign crude, the country may not need to stash as much away in the Strategic Petroleum Reserve, Wyden, D-Ore., said in a letter to Energy Secretary Ernest Moniz. “The recent shale boom is having a profound effect on United States energy policy” and making even relatively recent rules “at best irrelevant,” Wyden said. “In the case of the SPR, estimates on size are no longer in line with...
  • Energy Cost Rise: A Pledge Obama (Unfortunately) Kept

    10/23/2014 8:24:07 AM PDT · by rktman · 5 replies
    investors.com ^ | 10/23/2014 | editorial
    Inflation: We've chastised President Obama many times for failing to live up to promises he made when running for the office. So in fairness, we want to credit him for fulfilling one of them: his pledge to raise energy costs. In early 2008, candidate Obama told the San Francisco Chronicle that "under my plan ... electricity rates would necessarily skyrocket." Obama was referring to his plan to cap greenhouse-gas emissions, which would, among other things, effectively choke off coal as an energy source. He was just as fond of high gasoline prices, telling CNBC in June 2008 — as gas...
  • Utah to BLM: Rein in your cops

    10/23/2014 5:30:28 AM PDT · by george76 · 29 replies
    The Salt Lake Tribune ^ | Oct 03 2014 | BRIAN MAFFLY
    Public Enemy No. 1 for rural Utah sheriffs just happens to be a fellow peace officer: Dan Love, the Bureau of Land Management’s special agent in charge. Elected law enforcement officers from Nephi to Blanding call him an arrogant and dishonest bully who has little regard for local authority and dodges accountability, derailing a collaborative approach to police work on the state’s federal lands. Love reportedly just laughed when Garfield County Sheriff James "Danny" Perkins relayed ranchers’ complaints about federal officers removing plastic feed tubs from the range and threatening the ranchers with litter citations. He drew early controversy during...
  • Norway Wants to Be Europe’s Battery

    10/23/2014 5:26:23 AM PDT · by thackney · 11 replies
    IEEE ^ | 21 Oct 2014 | Peter Fairley
    A new HVDC line will let Europe store more wind energy in Norway’s hydropower system Norway’s hydropower reservoirs make up nearly half of Europe’s energy storage capacity. European grid operators need energy storage to cope with an ever-mounting, always-shifting torrent of wind power. See the connection? So does Norway. In December, engineers will energize a new subsea power cable that will begin to bridge the gap between need and opportunity, greatly expanding European power systems’ access to Norway’s hydropower-rich power grid. The 240-kilometer cable across the Skagerrak Strait separating southern Norway and northern Denmark is Norway’s first new power link...
  • Here's one campaign promise that Obama has (unfortunately) kept

    10/23/2014 4:46:42 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 10/22/2014 | IBD Staff
    In early 2008, candidate Obama told the San Francisco Chronicle that "under my plan ... electricity rates would necessarily skyrocket." Obama was referring to his plan to cap greenhouse-gas emissions, which would, among other things, effectively choke off coal as an energy source. He was just as fond of high gasoline prices, telling CNBC in June 2008 — as gas prices shot up to $4 a gallon — that he "would have preferred a gradual adjustment." Six years later, and Obama has succeeded.
  • To solve worker shortage, Dow offers apprenticeships

    10/23/2014 4:36:17 AM PDT · by thackney · 62 replies
    Fuel Fix ^ | October 23, 2014 | Rhiannon Meyers
    As refineries and petrochemical plants struggle to find enough skilled workers to fill a surge of new jobs, Dow Chemical is considering an old solution to solve a new problem. The multinational chemical corporation plans to launch a pilot apprenticeship program next year at eight of its plants, including manufacturing sites in Freeport, Bayport, Deer Park, Seadrift and Texas City. The company expects to hire 60 apprentices, who will receive two to four years of training and on-the-job experience to prepare them for jobs as chemical process operators, instrumentation and equipment technicians and analyzer technicians. The apprenticeship positions will be...
  • Oil Rigs Support Biodiversity: Ironically, “green” technology wipes out endangered species.

    10/22/2014 7:45:00 AM PDT · by SeekAndFind · 6 replies
    National Review ^ | 10/22/2014 | Jonah Goldberg
    Never let it be said that Mother Nature doesn’t appreciate irony. A new study led by researchers at Occidental College and the University of California at Santa Barbara has found that the oil platforms dotting the California coast are fantastic for sea life. In a 15-year study, researchers found that the ecosystems that build up around artificial rigs host 1,000 percent more fish and other sea life than natural habitats such as reefs and estuaries. The California rigs outstripped even famously rich ecosystems such as the coral reefs of French Polynesia. Now, as a big fan of artificial reefs, I...
  • North Dakota: $200 million, 20,000-barrel-a-day oil refinery could get green light

    10/22/2014 5:35:18 AM PDT · by TurboZamboni · 6 replies
    Pioneer Press ^ | 10-21-14 | Kevin Bonham
    DEVILS LAKE, N.D. -- A $200 million, 20,000-barrel-a-day clean fuels oil refinery could be operating near Devils Lake within three years. The refinery, similar to one being built in Dickinson, would employ about 100 people and could create as many as 400 spin-off jobs in the area, according to Rachel Lindstrom, executive director of Forward Devils Lake, the region's economic development agency. "It's very exciting for Devils Lake," she said, "a great opportunity." Devils Lake City Commission approved a letter of support for the project this week. The refinery is being proposed by Eagles Ledge Energy Ltd., based in Vancouver,...
  • Shouldn’t be we fighting a war on terrorism not on fossil fuels?

    10/21/2014 7:04:12 AM PDT · by rktman · 1 replies
    canadafreepress.com ^ | 10/20/2014 | Marita Noon
    “You are responsible for President Obama’s re-election,” I told 150 folks from the oil and gas industry—most of whom were conservative Republicans. I spoke to them on October 15 in San Angelo, TX. A reporter covering the event wrote that I “stunned the crowd by telling them they were largely responsible for getting the president re-elected, and asking them if they knew how they had helped.” He continued: “The room was very quiet for several moments as Noon waited to see if anyone would volunteer an answer.” We know President Obama has been waging a war on coal—with tens of...
  • Renewable Energy Fails Protesters Calling for More Renewable Energy (Wisconsin)

    10/21/2014 8:01:28 AM PDT · by CedarDave · 9 replies
    MacIver Institute ^ | October 9, 2014 | MacIverInstitute
    Demonstrators gathered outside the Public Service Commission to protest against a requested rate structure change by the local utility company, Madison Gas and Electric (MG&E). During the protest, they decried the use of "dirty coal" and called for more renewable energy. To make their point, they had a blow-up coal power plant that was running on a fan powered by wind and solar charged batteries. Before the protest was over, however, the batteries died and their solar panel could not produce enough energy to keep the power plant standing upright.
  • Total CEO de Margerie killed in Moscow business jet accident

    10/20/2014 7:54:00 PM PDT · by BenLurkin · 20 replies
    reuters.com ^ | Mon Oct 20, 2014 10:14pm EDT | Vladimir Soldatkin
    The chief executive of French oil major Total, Christophe de Margerie, was killed when a business jet collided with a snow plow during takeoff at Moscow's Vnukovo International Airport, the company and airport officials said. The collision occurred late on Monday, just minutes before midnight Moscow time, the airport said in a statement. The Dassault Falcon business jet carrying de Margerie had been due to travel to Paris. ... De Margerie, 63, was on a list of attendees at a Russian government meeting on foreign investment in Gorki, near Moscow, on Monday. With his distinctive bushy moustache and outspoken manner,...
  • The Petro-States in Shambles Despite Obama

    10/21/2014 5:16:54 AM PDT · by Kaslin · 24 replies
    Townhall.com ^ | October 21 | John Ransom
    Despite an administration that has no energy policy, free market forces in the United States are finding a way to provide relief from high prices for an economy that greatly needs the respite. Oil prices are heading the right way for consumers even if the wrong way for the wildcatters, explorers and developers of domestic energy. It’s been planned that way.Now that the worldwide economy is slowing, Saudi Arabia is intent on testing American resolve to become energy independent. The oil-rich kingdom has decided on a price war—a method that would be illegal in the United States—to see if American...
  • How will Saudi Arabia Respond to Lower Oil Prices?

    10/21/2014 5:02:59 AM PDT · by thackney · 11 replies
    Wall Street Pit ^ | Oct 19, 2014 | James D. Hamilton
    Oil prices (along with prices of many other commodities) have fallen dramatically since last summer. Some observers are waiting to see if Saudi Arabia responds with significant cutbacks in production. I say, don’t hold your breath. When oil demand fell in the 1981-82 recession, the Saudis cut production by 6 million barrels a day in an effort to soften the decline in oil prices. They also cut production in response to lower demand in the 2001 recession and the most recent recession. On the other hand, the kingdom boosted production quickly beginning in August 1990 and January 2003 in anticipation...
  • Why Harold Hamm Isn't Worried About Plunging Oil Prices

    10/21/2014 4:58:36 AM PDT · by thackney · 4 replies
    Forbes ^ | 10/20/2014 | Christopher Helman
    Count Harold Hamm, the billionaire CEO of Continental Resources CLR +1.34%, as one oil man not worried about the plunge in crude prices to $82 a barrel. “Notice how it happened all at once,” he says, starting off our phone call. The suddenness of oil’s plunge followed the Saudi assertion a week ago that oil was in oversupply, they could live with $80 oil for a couple years, and didn’t plan to cut their own output. Empty talk, not market fundamentals, moved the price, says Hamm. ”It’s not supply-demand related.” On the contrary, “this is one country, the Saudis, attempting...
  • Confirmed: Israel to Supply Gas to Egypt in $4 Billion Deal

    10/20/2014 1:50:39 PM PDT · by DeoVindiceSicSemperTyrannis · 6 replies
    Arutz Sheva ^ | 10-20-14 | Arutz Sheva Staff
    An Israeli firm will supply Egypt with natural gas, a company spokesman said Monday, more than two years after sabotage halted the flow of Egyptian gas to Israel. For more than a decade Israel relied on Egypt for roughly 40 percent of its gas needs in line with an export accord signed in 2005 by the two countries which are bound by a peace treaty. But in April 2012 Egypt annulled the contract, saying Israel had not met the financial obligations of the agreement, in a decision that came amid a spate of bomb attacks that targeted the pipeline used...
  • How Can Tiny Norway Afford to Buy So Many Teslas? [Subsidies and 'Carbon Laundering']

    10/20/2014 12:15:18 PM PDT · by Scoutmaster · 13 replies
    Stephen J. DUBNER: As you likely know, the American automobile company Tesla makes some of the most desirable–and expensive–electric cars in the world. The company is currently valued at roughly $31 billion. Compare that to the $55 billion market cap of the Ford Motor Company.Tesla, however, last year sold fewer than 25,000 cars while Ford sells more than 6 million vehicles a year, or roughly 240 vehicles for every single Tesla. Tesla currently has just one vehicle in production, the Model S luxury sedan. In the U.S. the starting price is a bit more than $70,000.Americans buy more Model S’s...
  • My sources say there has been a major release of U.S. oil reserves

    10/20/2014 10:25:20 AM PDT · by MeneMeneTekelUpharsin · 100 replies
    Oilfield supply company | 20 October 2013 | Mene
    It appears the U.S. government has made a major release of oil reserves to deliberately affect the price of fuel prior to the elections.
  • North Dakota aims to reduce natural gas flaring

    10/20/2014 6:12:03 AM PDT · by thackney · 12 replies
    Energy Information Administration ^ | OCTOBER 20, 2014 | Energy Information Administration
    About one-third of the natural gas North Dakota has produced in recent years has been flared rather than sold to customers or consumed on-site. The rapid growth in North Dakota oil production, which rose from more than 230,000 barrels per day (bbl/d) in January 2010 to more than 1,130,000 bbl/d in August 2014, has led to increased volumes of associated gas, or natural gas that comes from oil reservoirs. These increased volumes require additional infrastructure to gather, process, and transport gas volumes instead of flaring them. These additions can take time to build, and well operators are often reluctant to...
  • Denton fracking ban may be unconstitutional

    10/20/2014 5:22:03 AM PDT · by 2ndDivisionVet · 8 replies
    The Wichita Falls Times Record News ^ | October 19, 2014 | Alex Mills, President, Texas Alliance of Energy Producers
    The good citizens of Denton will be voting on Nov. 4 whether or not to ban hydraulic fracturing. They have been told by former Texas Supreme Court Chief Justice Tom Phillips the ban on fracturing is unconstitutional. “Under the Texas Constitution, I do not believe that a municipality may ban all oil and gas drilling within its borders,” former Chief Justice Phillips said during a hearing before the Denton City Council on July 15. He said the ban is incompatible with state law, and it amounts to a government taking of private property of many mineral interest owners and operators....
  • BHI: US drilling rig count drops 12 units to 1,918

    10/20/2014 4:59:53 AM PDT · by thackney · 3 replies
    Oil & Gas Journal ^ | 10/17/2014 | OGJ editors
    The US drilling rig count declined 12 units to settle at 1,918 rigs working during the week ended Oct. 17, Baker Hughes Inc. reported. BHI’s average US onshore rig count for the third quarter totaled 1,842 units, up 46 from the second quarter and up 133 from third-quarter 2013. The US onshore well count for the third quarter totaled 9,566, up 110 from the second quarter and up 491 from third-quarter 2013. Average US onshore drilling efficiencies dropped to 5.19, primarily caused by fewer wells/rig being generated in the Permian during the quarter, BHI indicated. The Permian accounted for 54%...
  • These 6 Countries Will Be Screwed If Oil Prices Keep Falling

    10/19/2014 6:48:32 PM PDT · by SeekAndFind · 55 replies
    Business Insider ^ | 10/19/2014 | Tomas Hirst
    The collapse in oil prices is already a major cause of concern for countries heavily reliant on exports of the commodity. For some, it could be a matter of avoiding a severe recession. Here's why: For governments in oil-exporting countries to meet their spending commitments they need oil to remain above a certain price. With oil prices under $87 a barrel, countries that rely on high oil prices, including Venezuela, Russia, and Saudi Arabia, may have a reason to be concerned. This chart shows the price per barrel that the six most exposed countries need to meet their national budgets....
  • Interview: Why This Tea Party Activist Is Fighting for Solar

    10/19/2014 6:48:24 AM PDT · by Cincinatus' Wife · 34 replies
    Green Tech ^ | September 11, 2014 | Midwest Energy News, Kari Lydersen
    Debbie Dooley is not a tree-hugger -- in fact she bills herself as a radical right-wing grandmother, and she is a founding member of the national Tea Party and a leader of the Atlanta Tea Party group. But Dooley is also an outspoken proponent of distributed solar generation and other forms of renewable distributed energy. She will be the featured speaker next week at the Wisconsin Solar Energy Industries Association’s Solar Social Speakers series -- as advocates in the state say solar is under attack by elected officials, regulators and major utilities. While in Wisconsin, Dooley will also visit a...
  • Britain needs political climate change to cut soaring energy bills

    10/18/2014 6:19:27 AM PDT · by Oldeconomybuyer · 4 replies
    UK Telegraph ^ | October 17, 2014 | By Charles Moore
    Targets for renewables are unattainable, futile – and will cost us trillions of pounds. Some time in this century, we reached a state of clever-silly unanimity over green policies, especially carbon emission controls and renewables targets. All parties (except five brave Tories voting against) voted for the second reading of the Climate Change Act in 2008. So, for some years, we humoured the climate-change lobby, and nodded our heads gravely when experts told us we must help save the planet. But most of us behaved like churchgoers listening to boring sermons. We accepted what we were told, on the unspoken...
  • Lower oil prices are unambiguously good

    10/17/2014 9:03:36 PM PDT · by Abakumov · 41 replies
    Human Events.com ^ | October 18, 2014 | Larry Kudlow
    Steep stock market corrections often create shrouds of pessimism that do bad things to people’s brainpower. And one of the absolutely stupidest things I have heard in recent weeks is that the recent drop in oil prices is bad. You heard me right. Serious people on financial television are saying lower oil prices are a signal of worldwide economic collapse. Here at home that translates to recession, deflation, a profits collapse and rising unemployment. I’ve been around for a while, and I’ve seldom heard such gibberish. The latest stock market scare stems from a bunch of fears — such as...
  • New Solar Battery Could Generate Cheaper Clean Energy

    10/17/2014 11:40:05 AM PDT · by Red Badger · 14 replies
    www.livescience.com ^ | October 17, 2014 01:50pm ET | by Elizabeth Palermo, Staff Writer
    A new kind of solar cell could store electrical energy without any help from traditional batteries, according to a new study. Researchers at Ohio State University, in Columbus, have developed what they're calling the world's first solar battery — a hybrid device that combines the energy-capturing abilities of a solar cell with the energy-storing capabilities of a battery. The new cell could lower the cost of harvesting renewable energy from the sun by as much as 25 percent, according to the researchers. [Top 10 Craziest Environmental Ideas] The key to the device's success is a mesh solar panel that allows...
  • COLUMN-Oil market proves mightier than OPEC: Kemp

    10/17/2014 5:11:41 AM PDT · by thackney · 11 replies
    Reuters ^ | Oct 15, 2014 | John Kemp
    There is nothing remotely surprising about the sharp fall in oil prices over the last four months, except perhaps the timing. The fundamental forces driving prices lower (rising supply outside OPEC from shale and sluggish demand growth as result of conservation and substitution) have been clearly visible for at least two years. "If the shale revolution can be sustained in the United States, and successfully exported to other countries, some combination of OPEC production cuts or lower oil prices to encourage demand and forestall more investment, will be inevitable by 2015-16," I wrote last year ("Saudi Arabia must decide response...
  • Cheap Oil Pops the Green Policy Bubble

    10/17/2014 5:04:17 AM PDT · by thackney · 14 replies
    Wall Street Journal ^ | Oct. 14, 2014 | HOLMAN W. JENKINS, JR.
    ...Tesla’s stock promptly dropped 8%... At $2.99, the price to which gasoline had fallen at some California stations last week, electric cars becoming a mass-market taste and not just an item for wealthy hobbyists recedes from probability. If Democrats especially start to find it politically no longer saleable to subsidize a toy for the rich, the company may be in real trouble. Since World War I, the retail price of gasoline has fluctuated in a band between $2 and $4 (using 2006 dollars as a benchmark). Since the 1970s, though, politicians have repeatedly wedded themselves to policies premised on the...
  • Low Oil Prices: A $660 Billion Stimulus Package

    10/17/2014 3:01:13 AM PDT · by 2ndDivisionVet · 15 replies
    BuzzFeed News ^ | October 16, 2014 | Matthew Zeitlin
    Crude prices have plunged by more than 20% in recent months. The fall means cheaper gas, cheaper flights, and generally good news for American consumers. Oil prices have been falling for months, and the slide could easily continue. With unprecedented instability in the Middle East, how could this be happening? The answer, according to analysts who follow the market, is a little bit of everything, from economic fundamentals in big oil consuming countries to growth in output among some oil producers. But much more clear is the effect of tumbling prices: Low oil prices are the equivalent of a massive...
  • Good news: New Lockheed Martin fusion reactor to solve all the world’s problems in 10 years or so

    10/16/2014 10:01:24 PM PDT · by 2ndDivisionVet · 35 replies
    Hot Air ^ | October 16, 2014 | Allahpundit
    In case you were too consumed with Ebola news yesterday to notice this, here’s a belated FYI that America’s going to put the Middle East’s oil barons out of business before your grandkids are out of college. Assuming the Ebola doesn’t get us first, I mean. Lockheed has a webpage dedicated to its new breakthrough in compact fusion reactors but this write-up in Aviation Week is the most thorough explanation I’ve seen of how it would actually work. If I understand it correctly, which I probably don’t, the problem with current fusion reactors is that they’re too darned big and...
  • Tesla D Buyers Shouldn't Get Tax Credit

    10/16/2014 1:45:48 PM PDT · by jazusamo · 33 replies
    NLPC ^ | October 16, 2014 | Mark Modica
    Environmentally conscientious, wealthy car enthusiasts are in luck! The much-hyped "D" unveiling came last week as Tesla CEO, Elon Musk, presented what appears to be a very impressive version of its plug-in Model S electric car called the P85D. Boasting 691 horsepower, 687 ft/lb of torque, AWD and a blazing 3.2 second zero to sixty time, the new rich peoples' toy is expected to cost in the neighborhood of $120,000. In fact, the car is so darn impressive that the only obvious question is why in the world do we need to give the affluent purchasers of cars like...
  • We are always open to ideas:Astonishing statement of CDC chief in charge of bungled Ebola response

    10/16/2014 11:58:59 AM PDT · by CorporateStepsister · 80 replies
    Daily Mail ^ | 16 October 2014 | David Martosko
    "Centers for Disease Control and Prevention Director Dr. Thomas Frieden began his grilling Thursday on Capitol Hill with a stark admission that his agency is still searching for ways to combat the Ebola virus as it burrows into the United States. Two members of Congress are calling for his resignation, and the White House began the torturous process of throwing him under the disease-control bus on Thursday afternoon, saying that Frieden is 'taking responsibility' for his agency's screwups. 'We're always open to ideas for what we can do to keep Americans safe,' Frieden said in his opening statement, departing from...
  • Eagle Ford expected to hit 1.6 million barrels next month

    10/16/2014 11:12:30 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | October 16, 2014 | Jennifer Hiller
    The Eagle Ford Shale is expected to make 1.61 million barrels of oil per day in November, up 42 percent from the year before, according to a new government report. The field is making around 1.58 million barrels of oil daily this month, according to the U.S. Energy Information Administration. The EIA shows production from the Eagle Ford and other major shale fields increasing even as the price of crude oil dips. The Permian Basin remains the nation’s most prolific oil field. It’s expected to make 1.8 million daily barrels of oil in November, up 30 percent from the same...
  • Achates Closer To Production Of Radically Efficient Two-Stroke Truck Diesel

    10/15/2014 8:38:41 PM PDT · by ckilmer · 20 replies
    greencarreports ^ | Oct 15, 2014 | John Voelcker
    Achates Closer To Production Of Radically Efficient Two-Stroke Truck Diesel By John Voelcker 6 Comments 2,012 views Oct 15, 2014 Achates opposed-piston two-stroke diesel engine, as it would be packaged for truck installation Suppose you could take an old engine concept discarded in the 1970s, add modern fuel metering and injection control hardware and software, and offer a compact powerplant that cuts the fuel consumption of today's diesel truck engines by a third..That's the promise of Achates Power, which has been working for a decade on its horizontally opposed two-stroke diesel truck engine.Now, it says, the company expects to announce...
  • Putin: Russia will reduce Europe's gas supplies if Ukraine takes gas

    10/16/2014 7:33:32 AM PDT · by McGruff · 9 replies
    CNBC ^ | 10/16/2014
    Russia's President Vladimir Putin said Russia will have to reduce gas supplies to Europe if Ukraine steals from gas pipelines that supply Europe—and crosses Ukraine en route. In June, Moscow halted gas supplies to Ukraine due to mounting debts and pricing disagreements. Disturbance of Russian gas supplies to Europe has happened two times in the past ten years, in 2006 and 2009. A third of Europe's gas comes from Russia. If no agreement is reached between Ukraine and Russia, Ukraine may face energy shortages this winter—further increasing risks to Europe's gas supply.
  • Lockheed Martin's Fusion Reactor: The Next Big Thing? Or No Big Deal?

    10/16/2014 7:37:27 AM PDT · by SeekAndFind · 23 replies
    American Thinker ^ | 10/16/2014 | Rick Moran
    Lockheed Martin has announced that their celebrated engineers in their hi tech Skunk Works technology shop have created a design for a small fusion reactor that could fit in the back of a large truck. The breakthrough could mean that clean, nearly unlimited energy might be just over the horizon. The discovery could virtually reinvent the world in the same way that the telephone, the jet engine, and the silicon chip have done over the years. Or not. They don't expect to have a working commercial reactor for a decade and there's no guarantee of success. Still, the Skunk...
  • Report: Oil exports could drive manufacturing renaissance

    10/16/2014 4:31:04 AM PDT · by thackney · 20 replies
    Fuel Fix ^ | October 15, 2014 | Jennifer A. Dlouhy
    The oil and gas drilling boom has been good news for U.S. manufacturing, keeping factories supplied with cheap chemical feedstocks and powered by inexpensive energy. Now, a new report from The Aspen Institute and the Manufacturers Alliance for Productivity and Innovation says the United States can further drive the domestic manufacturing renaissance — and keep drill bits turning — by allowing energy companies to sell oil overseas. The paper hinges on the notion that if the United States eases longstanding restrictions on oil exports, it will prompt further crude production inside the country. “Higher levels of oil production require higher...
  • Oil And Gas Prices: How Low Will They Go?

    10/16/2014 4:21:33 AM PDT · by thackney · 30 replies
    Forbes ^ | 10/15/2014 | Brigham A. McCown
    Crude oil prices continue to slide with surging production and weakening economic news. Key benchmarks are near to at a four year low, with West Texas Intermediate (“WTI”) closing at $81.84, well below the $100 to $120 range reached between 2010 and 2012. In fact, the drops have been startling, with WTI closing down $3.90, or 4.77% today alone, and other key benchmarks have not fared better. Until recently, Brent Crude Oil has traded significantly higher than WTI. Surging production and better transportation options have significantly whittled away at the typical $10 to $20 per barrel spread over the last...
  • Lockheed Martin Claims Fusion Breakthrough That Could Change World Forever

    10/15/2014 5:42:41 PM PDT · by 2ndDivisionVet · 69 replies
    Forbes ^ | October 15, 2014 | William Pentland
    Lockheed Martin, the aerospace and defense conglomerate based in Bethesda, Md., is claiming to have made a major breakthrough in nuclear fusion, which could lead to development of reactors small enough to fit on the back of a truck within a decade. In the simplest terms, nuclear fission breaks a single atom into two whereas nuclear fusion combines two atoms into one. Fusion, the holy grail of nuclear power, creates three to four times as much energy as fission. More importantly, fusion’s key advantage over fission is that it does not produce cancer-causing radioactive waste. (VIDEO-AT-LINK)Tom McGuire, who heads the...
  • Polar Vortex Highlights Grid Reliability Concerns

    10/15/2014 2:02:37 PM PDT · by ThethoughtsofGreg · 10 replies
    American Legislator ^ | 10-15-14 | John Eick
    One of the chief concerns about the EPA’s recently proposed Clean Power Plan is the effect that the regulation would have on electric grid reliability. We’ve written before about the roughly 50 gigawatts of installed baseload capacity that the EPA itself acknowledges will be retired by 2020 directly as a result of the proposed rule, as well as the 70 gigawatts slated for retirement as a result of other EPA regulations. Stakeholders and policymakers can see for themselves which generating stations in their state the EPA includes in their estimates by using the interactive map on our website. Altogether, these...
  • Lockheed says makes breakthrough on fusion energy project

    10/15/2014 10:50:41 AM PDT · by apillar · 88 replies
    Reuters ^ | 3 hours ago | Andrea Shalal
    WASHINGTON (Reuters) - Lockheed Martin Corp said on Wednesday it had made a technological breakthrough in developing a power source based on nuclear fusion, and the first reactors, small enough to fit on the back of a truck, could be ready for use in a decade. Initial work demonstrated the feasibility of building a 100-megawatt reactor measuring seven feet by 10 feet, which could fit on the back of a large truck, and is about 10 times smaller than current reactors, McGuire told reporters. In a statement, the company, the Pentagon's largest supplier, said it would build and test a...
  • god hates mini-hitlers: tanking oil price a catastrophe for the putin regime

    10/15/2014 7:03:07 AM PDT · by Reaganite Republican · 28 replies
    Reaganite Republican ^ | 15 October 2014 | Reaganite Republican
    With oil barely holding on to the $80s, the Kremlin's current leadership faces the same problem they did in the (19)80s: budget revenue half-derived from oil exports, and their backwards, inefficient economy still doesn't produce anything that anybody outside of Mother Russia is willing to spend money on- except perhaps mediocre vodka... And when the self-deluded Russians start babbling about 'greatness' while bullying poor, semi-defenseless countries on the borders of their shabby empire, they tend to get a little caught-up in things... and put the pedal-to-the-medal until they are defeated -i.e. Afghanistan- or simply go-broke, i.e. 1991. Yes, compared...
  • Saudi billionaire Alwaleed warns over impact of falling oil price

    10/14/2014 10:54:23 PM PDT · by Enterprise · 41 replies
    ft.com ^ | October 14, 2014 | Simeon Kerr
    In an open letter to Saudi ministers posted via Twitter, Prince Alwaleed bin Talal al-Saud expressed his “astonishment” at comments made by Ali al-Naimi, the oil minister, who reportedly played down the impact of oil prices falling below $100 a barrel. Prices have since fallen below $88 a barrel, or a quarter since June. Prince Alwaleed, noting the kingdom’s 2014 budget was 90 per cent dependent on oil revenues, said belittling the impact of lower prices was a “catastrophe that cannot go unmentioned”.
  • Oil price drop threatens to hit Russia, Iran harder than sanctions

    10/14/2014 11:30:02 PM PDT · by Berlin_Freeper · 17 replies
    latimes.com ^ | October 13, 2014 | Paul Richter
    A drop in global oil prices, driven in part by a boom in U.S. shale oil production, is threatening to hit the economies of energy-exporting Russia and Iran harder than Western economic sanctions have done.
  • Can't Believe I'm Saying This - Time For a Middle-Eastern Oil Import Tariff

    10/14/2014 7:45:55 AM PDT · by LRoggy · 45 replies
    Vanity | 10/14/14 | Lee Roggenburg
    I know. We are the side that preaches free markets. But not all markets are truly free anyway. And this is one time when a substantial national interest needs to be protected. I’m talking about our incredibly productive domestic energy industry that is on the path to making our oil self-sufficiency a reachable goal, at least if we look at it as North America. Except there is one player out there that is desperate to kill the baby in the crib. And in this instance, it’s not the Obama Administration. Yeah, I know. They’re probably creaming at the possibility that...
  • Jim Cramer on the Stock Market: What the Fall in Oil Means

    10/14/2014 6:04:38 AM PDT · by ckilmer · 73 replies
    thestreet ^ | Oct 13, 2014 | Jim Cramer
        3 0iJim Cramer on the Stock Market: What the Fall in Oil Means BY Jim Cramer  Oct 13, 2014 | 12:03 PM EDT   NEW YORK (Real Money) -- Blame it on the Permian. That's where the oil is flooding into the markets right now. Sure, it is absolutely true that the Bakken and the Eagle Ford shales are responsible for the lion's share of new oil being produced in this country. Sure, the Bakken in North Dakota is amazing with its 1.1 million barrels a day, double what it was when I went there a couple of...
  • Dayton, senators seek federal action on railroad delays

    10/14/2014 5:19:25 AM PDT · by TurboZamboni · 15 replies
    Pioneer Press ^ | 10-13-14 | Don Davis
    DULUTH, Minn. -- Minnesota's leaders want federal help to ease railroad delays. U.S. Sens. Amy Klobuchar and Al Franken and Gov. Mark Dayton on Monday sent a letter to the head of the Surface Transportation Board saying that rail delays are hurting many parts of the economy. "As we watch winter come to the state of Minnesota, we have become increasingly alarmed by the service failures of several railroads that serve critical industries in our state," the three Democrats wrote to board Chairman Daniel Elliott. And on Tuesday, Dayton holds what is expected to be the last of a series...