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Keyword: energy

Brevity: Headers | « Text »
  • Energy Boom Can Withstand Steeper Oil-Price Drop

    10/30/2014 8:14:49 AM PDT · by thackney · 9 replies
    Wall Street Journal ^ | Oct. 29, 2014 | RUSSELL GOLD, ERIN AILWORTH and BENOÎT FAUCON
    Some Smaller U.S. Producers Are Likely to Face Pinch From a More-Modest Decline Oil prices would need to fall at least another $20 a barrel to choke off the U.S. energy boom, industry experts say, though some smaller American producers would face serious problems from a more modest decline. Small and midsize companies—not global giants—are behind the surge in U.S. oil output, which hit 8.97 million barrels a day earlier this month, according to federal statistics. Some of these drillers have taken on a lot of debt, which was easier to justify when oil was going for as much as...
  • CTA testing 2 all-electric buses

    10/30/2014 6:23:18 AM PDT · by Citizen Zed · 26 replies
    Chicago Tribune ^ | 10-30-2014 | Jon Hilkevitch
    The 40-foot green machines, which as prototypes are priced at about $1 million each, are made by New Flyer Industries. The all-electric propulsion system was built by Siemens. Regular diesel-powered buses cost $400,000 to $500,000 each, and diesel-electric hybrid buses cost about $700,000, according to the CTA. CTA officials estimated the electric buses will reduce energy costs by more than $25,000 a year per bus, or roughly $300,000 over the average 12-year bus life span. The electric bus demonstration project is funded by a $2.2 million grant received in 2011 from the Federal Transit Administration, plus about $300,000 in congestion...
  • Will 2.50 Gas Cause Panic For Democrats In 2015?Oh No! More Jobs, Less Votes!

    10/30/2014 5:31:05 AM PDT · by Cruz_West_Paul2016 · 29 replies
    If by miracle and we see $2.50 gas next year, you would assume it will help the economy and create more jobs. Right? And Democrats want more people unemployed. And who wont approve of such a drop in oil prices? Maybe Obama, who wants all of us to drive compact cars with 24 inches of leg room, and cars that will crumble in any collision(like those Smart Cars). We can only hope crude prices keep falling while consumers start buying bigger cars again.
  • Texas RRC Issues New Regulations on Fracking Disposal Wells

    10/30/2014 5:33:35 AM PDT · by thackney · 3 replies
    Rig Zone ^ | October 29, 2014 | Gene Lockard
    New regulations covering disposal wells from fracking operations go into effect in Texas beginning in November 2014. The new regulations by the Texas Railroad Commission (Texas RRC, or Commission), the state’s regulating entity for oil and gas, are centered on the possible linkage between seismic activity and disposing wells. There are four main components of the new regulations: - Applicants for disposal wells must conduct a search on the U.S. Geological Survey seismic database to determine if there is a history of earthquakes within a 100-square-mile area around the site of the proposed disposal well - Clarify that the Commission...
  • Feds set ground rules for ConocoPhillips project in Alaska

    10/30/2014 4:52:12 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | October 29, 2014 | Jennifer A. Dlouhy
    ConocoPhillips’ plans for the first oil production facilities from federal lands in Alaska moved one step closer to reality Wednesday, as the Interior Department released a key environmental study on the project. Although it is not a final verdict, the assessment by Interior’s Bureau of Land Management sets the stage for approval later this year by outlining steps ConocoPhillips would have to take to mitigate environmental effects while boring up to 33 wells at its Greater Mooses Tooth site. “Reaching this stage of permitting is a major milestone for the project and for the future of balanced, responsible federal oil...
  • It's Coming: $65 Oil {Good News / Bad News}

    10/30/2014 4:47:37 AM PDT · by thackney · 65 replies
    The Atlantic ^ | OCT 28 2014 | DEREK THOMPSON
    Gas prices are falling below $3 a gallon across the United States for two big reasons: (1) the world economy is growing slower than we hoped, and (2) global oil production is improving faster than we expected. "India and China are slowing down,” said Charles K. Ebinger, director of the Energy Security Initiative at Brookings. "The IMF just downgraded Europe’s growth to less than 1 percent, and they're already quite energy efficient. Brazil’s a problem, too. All around the world there is no great growth story, and expectations are that things will stay that way or get worse." There is...
  • Phillips 66 profits double on crude price plummet

    10/29/2014 7:27:40 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | October 29, 2014 | Rhiannon Meyers
    Plummeting crude prices worldwide doubled Phillips 66′s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries. Crude oil is, by far, the largest operating expense for the Houston-based company, which operates pipelines and refineries. Phillips 66 purchases about 2 million barrels of oil per day, spending more than $80 billion per year on crude, depending on the price. Falling prices can dramatically cut the company’s costs — a savings of $1 per barrel is worth about $450 million in net income, the company has reported. The company on Wednesday reported earnings of $1.2...
  • Nuclear Regulatory Commission resumes license renewals for nuclear power plants

    10/29/2014 5:39:39 AM PDT · by thackney · 19 replies
    Energy Information Administration ^ | OCTOBER 29, 2014 | Energy Information Administration
    Following a two-year hiatus, the U.S. Nuclear Regulatory Commission (NRC) has resumed issuing license renewals for nuclear power plants. On October 20, the NRC renewed the operating licenses for Limerick Generating Station Units 1 and 2, located northwest of Philadelphia, extending their license expiration dates by 20 years, to 2044 and 2049, respectively. With this action, the NRC has granted license renewals providing a 20-year extension to a total of 74 of the 100 operating reactors in the United States. Nuclear power accounted for 20% of total power sector electricity generation in 2013. NRC has the authority to issue initial...
  • India keen to diversify oil exports, buy crude from US

    10/29/2014 5:21:12 AM PDT · by thackney · 1 replies
    The Economic Times ^ | Oct 28, 2014 | PTI
    Hit by uncertainly over oil supplies from West Asia, India is keen to diversify its imports and wants to buy crude from the US, Oil Minister Dharmendra Pradhan has said. The new strategy is being planned to guard against disruption in supplies from its biggest sources in the Middle East - Iraq and Syria - as they are caught in problems relating to Islamic State movement. Asia's second-biggest energy user, which spends $143 billion on import of crude oil in 2013-14, wants the US to extend its policy of allowing gas exports to crude oil as well. "I met officials...
  • EU energy boss, Ukraine minister to hold talks on Russia gas dispute

    10/29/2014 5:07:17 AM PDT · by thackney · 3 replies
    Reuters ^ | Oct 27, 2014 | Barbara Lewis
    European Energy Commissioner Guenther Oettinger and Ukraine Energy Minister Yuri Prodan will speak by phone on Monday to prepare for trilateral talks with Russia on resolving a gas pricing row, a Commission official said. Citing unpaid bills, Russia cut off gas flows to Kiev in mid-June, adding to East-West tensions triggered by Russia's annexation of Ukraine's Crimea and conflict in Russian-speaking eastern Ukraine. Last Tuesday, the latest round of talks between Russia and Ukraine, brokered by the Commission, to try to resolve the gas supply dispute ended without a deal. Since then, relations between Russia and Ukraine may have been...
  • Why lower crude prices are good for the oil industry

    10/29/2014 5:01:17 AM PDT · by thackney · 7 replies
    Houston Chronicle ^ | October 28, 2014 | Chris Tomlinson
    The quickest way to ruin a barbecue chicken is to let the fire get too hot. The same is true in business, and until a few weeks ago, nothing had been hotter than oil this year. High crude oil prices have certainly fueled innovation and economic growth over the last four years, and the dozen or so major construction projects in downtown Houston are driven by the oil boom. But allow me for a moment to sing the praises of the 25 percent pullback that has dropped prices to two-year lows. No analyst can confidently predict where oil prices will...
  • Opec Plots US Shale Oil Takedown

    10/29/2014 4:57:19 AM PDT · by thackney · 43 replies
    IBTimes Co ^ | October 28, 2014 | Nigel Wilson
    Opec is likely to let the price of oil slide further as it gambles that US shale oil producers will be forced to slow production first. The oil cartel, which includes a number of Persian Gulf states, as well as Nigeria and Venezuela, has remained silent as oil prices have tumbled over recent months. Some analysts have predicted the oil producers club will decide to reduce production at its next meeting, scheduled for November, in a bid to maintain price levels at around $100 a barrel. Yet, with a barrel of crude oil currently at $82.37 (£50.90, €64.69), the member...
  • Norway's Fred. Olsen Energy Sees Tough Rig Market Ahead

    10/28/2014 10:17:31 AM PDT · by thackney · 7 replies
    Rig Zone ^ | October 28, 2014 | Reuters
    Norway's Fred. Olsen Energy said the global rig market would struggle with lower demand and oversupply as it reported third-quarter profits below expectations on Tuesday. Rates in the offshore rig market have fallen from a 2013 high as oil companies cut spending and as newly built rigs enter the market, creating overcapacity. "(There is) continued low contracting activity in all market segments," the firm said in presentation material. "An increase in number of idle rigs is seen, predominantly in international mid water and deepwater markets ... As a result, dayrates have decreased in all market segments." Rival Maersk Drilling, a...
  • Lockheed Martin Pursuing Compact Nuclear Fusion Reactor Concept

    10/28/2014 6:26:04 AM PDT · by WhiskeyX · 30 replies
    Lockheed Martin ^ | Oct. 15, 2014 | Lockheed Martin
    PALMDALE, Calif., Oct. 15, 2014 – The Lockheed Martin [NYSE: LMT] Skunk Works® team is working on a new compact fusion reactor (CFR) that can be developed and deployed in as little as ten years. Currently, there are several patents pending that cover their approach. While fusion itself is not new, the Skunk Works has built on more than 60 years of fusion research and investment to develop an approach that offers a significant reduction in size compared to mainstream efforts. “Our compact fusion concept combines several alternative magnetic confinement approaches, taking the best parts of each, and offers a...
  • OPEC: Hobbit Or Orc?

    10/28/2014 5:32:13 AM PDT · by thackney · 1 replies
    Forbes ^ | 10/28/2014 | Michael Lynch
    The recent drop of $20 or so in oil prices from near all-time highs has pundits racing for their typewriters. Okay, laptops or something. Many have declared OPEC dead or ineffective, and one academic has noted that OPEC almost always produces over quota, proving it’s not a competent cartel. Needless to say, aged methane emissions like me tend to sign in our beards when we read this. OPEC has been declared dead more times than Mark Twain or the Boston Red Sox (next year for sure!) and yet it continues to hold meetings and set production quotas, as if thousands...
  • Natural Gas Flaring In Bakken Reduced Following New Regulations

    10/28/2014 5:19:29 AM PDT · by thackney · 24 replies
    Rig Zone ^ | October 24, 2014 | Gene Lockard|
    A month after implementing new rules regarding the flaring of natural gas, the state of North Dakota was near compliance with the new limits as oil and gas production companies in the Bakken work to reduce flaring, according to the United States Department of Energy (DOE). In August, 28 percent of North Dakota’s natural gas was flared, the state reported. That was near North Dakota’s flare-rate goal of 26 percent in 4Q 2014, despite an increase in oil production in the Bakken in August, according to the website Bakken.com. Following criticism from royalty holders regarding extensive flaring that made North...
  • Oil Price, Industry Costs Dominate Debate at SPE Amsterdam Meet

    10/28/2014 5:16:19 AM PDT · by thackney
    Fuel Fix ^ | October 27, 2014 | Jon Mainwaring
    The oil price and need for the energy industry to reduce costs dominated debate at the opening session of the Society of Petroleum Engineers' Annual Technical Conference and Exhibition in Amsterdam Monday. The session, titled "Affordable Energy", included panelists from the International Energy Agency (IEA), ExxonMobil, PEMEX and Technip. The recent fall in the price of oil – with Brent Crude plunging below $85 per barrel – prompted questions among an audience of hundreds of SPE delegates as to the viability of many oil and gas projects around the world. Chris Besson, senior energy analyst at the IAE, believes it...
  • Greens to spend record $85M in midterms ["climate science denial will soon come to a close"]

    10/28/2014 2:12:37 AM PDT · by Cincinatus' Wife · 22 replies
    The Hill ^ | October 27, 2014 | Laura Barron-Lopez
    Environmental groups are on track to spend more than $85 million on key races this year, more than ever before, according to an internal memo. The record spending comes as green groups are worried about the fate of the Senate and the future of President Obama’s climate agenda, which they say is crucial to helping the U.S. and other nations curb greenhouse gas emissions and stave off disastrous climate impacts. A memo circulated among five of the nation’s top environmental organizations, and provided to The Hill, summarizes in detail the plan hatched by the groups to put climate change on...
  • How a viable nuclear fusion reactor really could change the world

    10/27/2014 9:31:23 PM PDT · by 2ndDivisionVet · 22 replies
    Mother Nature Network ^ | October 24, 2014 | Bryan Nelson
    Recent news that Lockheed Martin has made a nuclear fusion breakthrough has come with its fair share of sensational headlines. Claims have been made that it could change the world and forever alter the future of humanity. And for once, those headlines could be accurate, assuming that Lockheed Martin's claims are viable. A compact nuclear fusion reactor, especially one as small as Lockheed Martin is claiming, could change the world as we know it. But before we can get a handle on what such a breakthrough could mean, let's first get a hold of what exactly is being claimed. In...
  • Is Lockheed’s fusion project breaking new ground?

    10/27/2014 5:30:40 PM PDT · by Ernest_at_the_Beach · 38 replies
    cosmosmagazine.com ^ | 19 hours ago
    The defence company’s announcement that it is working on a fusion reactor that could fit on the back of a truck was greeted with surprise. It could change the future of the planet, but some are sceptical. Dan Clery reports. A scientist works inside a fusion reactor. But frustration with the slow pace of big projects has led to small privately funded efforts to find a faster, cheaper process. Monty Rakusen/GettyImages Lockheed Martin, the US defence company behind stealth aircraft, is known for working on futuristic projects. Even so, its announcement last week surprised many people. The company revealed...
  • Goldman Sachs: Expect U.S. crude to fall to $70 next year

    10/27/2014 2:02:27 PM PDT · by thackney · 19 replies
    Fuel Fix ^ | October 27, 2014 | Ryan Holeywell
    U.S. benchmark crude prices will fall to $70 per barrel next year, according to a new forecast published by Goldman Sachs Monday, suggesting that the recent and pronounced slide in oil prices isn’t a temporary phenomenon. The decline is due to oil production growing at a faster pace than demand, leading to global oil market that’s oversupplied. The report called the change inevitable, noting that “getting to a point where the market shifted back into surplus was only a matter of time.” The report predicts that West Texas Intermediate will fall to $70 per barrel in the second quarter of...
  • STUDY: WIND TURBINES ARE 'EXPENSIVE, UNRELIABLE AND INEFFICIENT'

    10/27/2014 12:59:13 PM PDT · by Hojczyk · 36 replies
    Breitbart London ^ | Oct. 27,2014 | DONNA RACHEL EDMUNDS
    Likewise, and again contrary to popular assumptions, wind does not follow daily or even seasonal outputs. There were long periods in which the wind was not blowing even in winter, making it difficult to match generation of wind power to demand. The report concludes that covering these low periods would either need 15 storage plants the size of Dinorwig (a pumped storage hydroelectric power station in Wales with a 1.7GW capacity), or preserving and renewing our fossil plants as a reserve. Most significantly, it found that the system would be only running at 90 percent of capacity or higher for...
  • Chemical company Sasol to begin construction on $8B ethane cracker complex near Lake Charles

    10/27/2014 12:06:09 PM PDT · by BBell · 16 replies
    NOLA.com | The Times-Picayune ^ | 10/27/14 | Katherine Sayre
    South African chemical company Sasol Ltd. has given final approval to move forward with an $8.1 billion ethane cracker and derivatives complex at its existing Lake Charles manufacturing facility, the company announced Monday. The ethane cracker will produce 1.5 million tons of ethylene every year. The process involves breaking down the molecules of ethane -- which is found in natural gas -- to create ethylene, a key ingredient for the petrochemical industry. It's used in products like food packaging, fragrances, detergents and tires. After clearing a key permitting hurdle earlier this year, the company said Monday it has given the...
  • The True Reason Gas Prices are Falling (Hint: It’s Not Because of Green Energy)

    10/27/2014 9:08:21 AM PDT · by Timber Rattler · 20 replies
    The Daily Signal ^ | October 26, 2014 | Stephen Moore
    American workers and motorists got some badly-needed relief this week when the price of oil plunged to its lowest level in years. The oil price has fallen by about 25 percent since its peak back in June of $105 a barrel. This is translating to lower prices at the pump with many states now below $3 a gallon. At present levels, these lower oil and gas prices are the equivalent of a $200 billion cost saving to American consumers and businesses. That’s $200 billion a year we don’t have to send to Saudi Arabia, Kuwait and other foreign nations. Now...
  • CRUDE OIL BREAKS $80: GOING DOWN!

    10/27/2014 7:49:15 AM PDT · by SeekAndFind · 133 replies
    Business Insider ^ | 10/27/2014 | Myles Udland
    Crude oil just broke $80. In morning trade on Monday, the price of crude oil fell below $80 a barrel for the first time since mid-2012 as energy prices continue to plummet around the world. The most recent drop in oil, which has been a bear market since topping out at about $107 during the summer, follows a cut in oil-price expectations from Goldman Sachs' Jeff Currie over the weekend. Currie took his oil-price forecasts for WTI Crude to $75 a barrel in the first quarter of 2015 and to $70 a barrel in the second quarter of next year....
  • Fuel Costs Ease, US Airline Profits Soar

    10/27/2014 6:49:20 AM PDT · by SoFloFreeper · 4 replies
    ABC "News" ^ | 10/23/14 | David Koenig
    Profits are soaring at the biggest U.S. airlines as fuel prices drop — but don't expect fares to fall too. Heading into the busy holiday-travel period, the airlines expect even cheaper fuel, thanks to the nosedive in crude oil prices. The price of jet fuel, an airline's biggest single expense, has dropped by about one-fifth since mid-June.
  • The Oil Patch Prince: A Great Tale Of West Texas

    10/27/2014 6:04:43 AM PDT · by bert · 5 replies
    Forbes ^ | 10/15/2014 | Christopher HelmanChristopher Helman
    Six years ago Bryan Sheffield had no energy industry experience. Today he’s on track to become a billionaire before his 40th birthday. How it happened is one of the greatest Texas oil stories of all time. The Great American Energy Boom is responsible for some of the most incredible roughneck-to-riches stories in business history. Aubrey McClendon built Chesapeake Energy CHK -0.87% into a land-grabbing juggernaut, lost his shirt (and his spot on The Forbes 400) from too much borrowing and is now clawing his way back. Harold Hamm envisioned using horizontal drilling and hydraulic fracturing technology to bring up oil...
  • Kuwait Says Technical, Not Political, Reasons Behind Oilfield Closure

    10/27/2014 4:59:11 AM PDT · by thackney · 2 replies
    Rig Zone ^ | October 27, 2014 | Reuters
    A senior Kuwaiti official said on Sunday the Khafji oilfield, run jointly with Saudi Arabia, had been shut down for "purely technical and not political" reasons, state news agency KUNA reported. Crude production from the Khafji oilfield had been halted temporarily to comply with environmental rules, according to an industry source and an internal letter seen by Reuters. But the closure of the offshore field, which has an output of between 280,000 to 300,000 barrels per day, revived speculation of renewed tensions between the two countries. Kuwaiti Foreign Ministry undersecretary Khaled al-Jarallah, speaking in Riyadh after a meeting of Gulf...
  • The True Reason Gas Prices are Falling (Hint: It’s Not Because of Green Energy)

    10/26/2014 6:23:51 PM PDT · by Coleus · 21 replies
    the daily signal ^ | October 26, 2014 | Stephen Moore
    American workers and motorists got some badly-needed relief this week when the price of oil plunged to its lowest level in years. The oil price has fallen by about 20 to 25 percent since its peak back in June of $105 a barrel. This is translating to lower prices at the pump with many states now below $3 a gallon. Already the lower oil and gas prices are the equivalent of a $70 to 200 billion cost saving to American consumers and businesses. That’s $70 to 200 billion a year we don’t have to send to Saudi Arabia, Kuwait and...
  • A hive of activity, Drilling rig returning to Point Thomson as field development continues

    10/26/2014 6:06:01 PM PDT · by thackney · 7 replies
    Petroleum News ^ | Week of October 26, 2014 | Alan Bailey
    ExxonMobil is activating the powerful Nabors 27E drilling rig, for transportation by ice road in the coming winter to the company’s huge Point Thomson gas condensate field on the North Slope, company executives told Petroleum News Oct. 16. The rig will continue drilling operations that were started at the field several years ago. With up to 1,200 people and 70 Alaska companies involved in activities ranging from gravel laying to pipeline installation, field development has been moving steadily ahead, said Nathan Sanborn, project manager for the Point Thomson Initial Production System. The company has spent the last couple of years...
  • Southern Illinois residents rally, wait for fracking

    10/26/2014 11:05:41 AM PDT · by 2ndDivisionVet · 1 replies
    Bakken News / The Chicago Tribune ^ | October 25, 2014 | Julie Wernau
    Wayne Woolsey, an oilman since 1958, says he has core samples pulled from deep below the shale rock here that “look awful promising,” comparable to what has been found elsewhere in the country where fracking has brought plentiful jobs and enriched land owners and energy companies. So, Woolsey said, he was stunned when a Twitter account with his company’s name and his portrait surfaced with links to complaints about fracking along with a letter with his signature that informed more than 200 property owners in another county that he was terminating leases on land where he planned to drill. “We...
  • Fracking Revolution Cuts Prices, Drives A Stake Through OPEC's Heart

    10/26/2014 7:02:45 AM PDT · by thackney · 49 replies
    Investors Business Daily ^ | 10/24/2014 | HAROLD HAMM
    We have heard the story before: political turmoil in the Middle East, disruption of global oil supplies by members of OPEC. In the past, the unrest in Iran would be causing oil prices to spike up. Instead they have been falling by more than 25%. Gas prices at the pump have fallen to less than $3 a gallon in many markets. That's quite a change from the past 40 years, when OPEC and other foreign oil producers have wielded oil as a political and economic weapon to slow down and even cripple the U.S. economy. Saudi Arabia was by far...
  • Pemex loss widens as private investment nears

    10/26/2014 6:57:02 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | October 24, 2014 | Robert Grattan
    State-owned, Mexican oil company Petróleos Mexicanos reported a stiff loss and declining production in the third quarter of 2014, as Mexico nears a historic transition to an open energy industry. Pemex said it lost 59.8 billion pesos or $4.4 billion during the July to September period, compared with a year earlier loss of 39.2 billion pesos or $2.9 billion. The loss was driven by falling oil prices and declining production, among other reasons, executives told investors on a Friday conference call. Pemex said it pumped an average of 2.4 million barrels per day in the most recent quarter, down about...
  • BNSF to add surcharge to older tank cars

    10/26/2014 6:53:44 AM PDT · by thackney · 8 replies
    , JournalStar.com ^ | October 24, 2014 | JournalStar.com
    BNSF Railway Co. plans to apply a $1,000 surcharge for each older tank car that hauls oil, as the railroad owned by Warren Buffett’s Berkshire Hathaway Inc. encourages shippers to scrap the puncture-prone cars. The charge, which will take effect Jan. 1, will add about $1.50 per barrel to the cost of shipping oil across the country. It’s the first surcharge announced by a major U.S. railroad for older cars known as DOT-111s, and won’t apply to cars called CPC-1232s that are built to higher standards adopted in October 2011, according to a BNSF notice. The Obama administration in July...
  • Fracking Boom About to Bust?

    10/25/2014 6:30:08 PM PDT · by 2ndDivisionVet · 44 replies
    The New American ^ | October 24, 2014 | Bob Adelmann
    Crude oil prices have dropped below $80 a barrel, down more than 20 percent just since June, meaning price estimates by the U.S. Energy Information Agency (EIA) have been far too pessimistic. And these low prices — and the fear that they could go even lower — are making a number of oil industry people increasingly nervous, with some prediciting that the prices are getting so low that oil companies are going to stop new drilling and even cut back on production from already drilled wells. On October 7, the EIA estimated that prices for West Texas Intermediate (WTI) crude...
  • It’s Rarely About the Environment Anymore

    10/25/2014 8:47:33 AM PDT · by Kaslin · 36 replies
    Townhall.com ^ | October 25, 2014 | Paul Driessen
    Back in 1970, when I got involved in the first Earth Day and nascent environmental movement, we had real pollution problems. But over time, new laws, regulations, attitudes and technologies cleaned up our air, water and sloppy industry practices. By contrast, todayÂ’s battles are rarely about the environment.As Ron Arnold and I detail in our new book, Cracking Big Green: To save the world from the save-the-Earth money machine, todayÂ’s eco-battles pit a $13.4-billion-per-year U.S. environmentalist industry against the reliable, affordable, 82 percent fossil fuel energy that makes our jobs, living standards, health, welfare and environmental quality possible. A new...
  • Study: Oil, Gas Drilling Activities Provide Major Economic Stimulus for US

    10/24/2014 8:10:41 AM PDT · by thackney · 7 replies
    Rig Zone ^ | October 24, 2014 | Gene Lockard
    The economic benefits to the United States from the energy industry have more than doubled in just the past ten years, even after accounting for inflation, according to a new study by The Perryman Group. The growth in the industry is worth about $1.2 trillion in gross product each year, the study noted, adding that the growth in the oil and gas industry since the economic recession has been “dramatic.” In fact, since the start of the economic recovery, the energy industry has contributed about 30 percent of the total job growth for the nation, Dr. Ray Perryman, president and...
  • Turkish dealers helping ISIL earn $1 million per day from oil: US Treasury

    10/24/2014 5:31:05 AM PDT · by DeaconBenjamin · 11 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 · 18 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 · 20 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 · 31 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...