Keyword: fracking

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  • Obama: Putin No 'Chess Master,' Not 'Someone Who Rolled Me'

    12/21/2014 11:06:24 AM PST · by bkopto · 43 replies
    Newsmax ^ | 12/21/2014 | Staff
    "And right now, he's presiding over the collapse of his currency, a major financial crisis and a huge economic contraction," Obama said in the interview, which was recorded on Friday. "That doesn't sound like somebody who has rolled me or the United States of America. "
  • Why Cuomo’s New York Fracking Ban Won’t Matter Much

    12/20/2014 5:14:58 PM PST · by SeekAndFind · 16 replies
    National Review ^ | 12/20/2014 | Robert Bryce
    Amid the many explanations offered by New York governor Andrew Cuomo and his various lieutenants about their reasons for imposing a permanent ban on hydraulic fracturing in the state, one of them made me laugh out loud. “We lack the necessary data,” said New York’s health commissioner, Howard Zucker. I’ll discuss why that claim made me chuckle in just a moment. Before turning to that, let’s be clear: Cuomo’s decision is not surprising, and it’s not very significant either. It’s hardly surprising that a liberal Democratic governor in one of America’s most liberal states chose to ban fracturing. Indeed, in...
  • Methane hydrate joins shale gas and deep sea gas

    03/20/2013 5:04:22 PM PDT · by Fractal Trader · 17 replies
    Times of London via www.mattridley.co.uk ^ | 16 March 2013 | Matt Ridley
    The gas age is good news Published on Saturday, March 16, 2013, updated Saturday, March 16, 2013 Methane hydrate joins shale gas and deep sea gas I have the following article in the Times on 15 March:   Move over shale gas, here comes methane hydrate. (Perhaps.) On Tuesday the Japanese government’s drilling ship Chikyu started flaring off gas from a hole drilled into a solid deposit of methane and ice, 300 metres beneath the seabed under 1000 metres of water, 30 miles off the Japanese coast.   The real significance of this gas flare probably lies decades in...
  • Exxon Mobil Shows Rising U.S. Output as Prices Fall

    12/18/2014 1:16:24 PM PST · by Up Yours Marxists · 29 replies
    Salt Lake Tribune ^ | December 18, 2014 14:15 GMT | Joe Carroll (Bloomberg News)
    Crude oil production from U.S. wells is poised to approach a 42-year record next year as drillers ignore the recent decline in price pointing them in the opposite direction. U.S. energy producers plan to pump more crude in 2015 as declining equipment costs and enhanced drilling techniques more than offset the collapse in oil markets, said Troy Eckard, whose Eckard Global owns stakes in more than 260 North Dakota shale wells. Oil companies, while trimming 2015 budgets to cope with the lowest crude prices in five years, are also shifting their focus to their most-prolific, lowest-cost fields, which means extracting...
  • How Andrew Cuomo Wants to Impoverish New Yorkers: Why did his Dept. of Health ban fracking?

    12/18/2014 6:59:57 AM PST · by SeekAndFind · 21 replies
    National Review ^ | 12/18/2014 | Jillian Kay Melchior
    Thanks to an announcement from the state Department of Health today, New Yorkers will miss out on a multi-billion-dollar industry that has made other states rich. The decision, a ban on fracking, has little to do with sound science and much more to do with the political cowardice of New York’s leaders, the politicization of state agencies, and the political activism of radical environmentalists. The story begins about six years ago, when Governor David Paterson decided to refer a politically controversial decision about fracking to state agencies, ordering a study while instituting a de facto fracking ban. His successor,...
  • Gas industry: Drilling tax could cripple Pa. economy

    12/17/2014 7:50:18 AM PST · by thackney · 18 replies
    Inquirer Harrisburg Bureau ^ | December 17, 2014 | Amy Worden
    Three days after the newly elected Senate majority leader opened the door to negotiations on a natural gas drilling tax, industry leaders reiterated their stand that such a tax would harm the state's economy. Additional taxes would have a "crippling effect on jobs" said Stephanie Wissman, executive director of the Associated Petroleum Industries of Pennsylvania. "It threatens to stifle energy production and the jobs that go with it," Wissman said in a conference call with reporters Tuesday. The prospect of a severance tax on gas production in the lucrative Marcellus Shale - an issue dormant since Gov. Ed Rendell left...
  • Cuomo to Ban Fracking in New York State, Citing Health Risks

    12/17/2014 10:03:02 AM PST · by Behind Liberal Lines · 112 replies
    ALBANY — The Cuomo administration announced Wednesday that it would ban hydraulic fracturing in New York State, ending years of uncertainty by concluding that the controversial method of extracting gas from deep underground could contaminate the state’s air and water and pose inestimable public-health risks... That conclusion was delivered publicly during a year-end cabinet meeting called by Gov. Andrew M. Cuomo in Albany. It came amid increased calls by environmentalists to ban fracking, which uses water and chemicals to release natural gas trapped in deeply buried shale deposits.
  • Collapse in oil prices: producers howl, consumers cheer, economists fret

    12/16/2014 9:55:53 AM PST · by Star Traveler · 27 replies
    The Guardian ^ | Tuesday, December 16, 2014 | Staff
    The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has analysts arguing over whether this is a good or bad thing. The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing. The price of a barrel of oil is just under $56, down from a summer high of $107, and lower than at any time since the US was still in recession...
  • Washington Post Avoids F-Word in Story About Falling Oil Prices

    12/15/2014 1:08:58 PM PST · by PJ-Comix · 28 replies
    NewsBusters ^ | December 15, 2014 | P.J. Gladnick
    It is the F-word that dares not speak its name at the Washington Post. At least not in the WonkBlog story about plunging oil prices by Chris Mooney. That word is "fracking." Mooney is notorious for his antipathy towards fracking but his failure to attribute the large increase in U.S. oil production to it is laughable. Here is Mooney noticing that oil prices are going way down but fails to credit it to you-know-what due to his ideology:
  • Oil price collapse claims WA's Red Fork Energy, shale gas company in receivership (1st Major Victim)

    12/12/2014 9:10:50 PM PST · by tcrlaf · 62 replies
    ABC News ^ | 12-12-2014 | Kathryn Diss
    The collapse of the oil price has snared its first West Australian victim with Red Fork Energy losing the support of its major lender. The Perth-based company drills shale rock onshore in the United States, producing oil and gas. But it is completely exposed to the US shale industry, which analysts say has become unviable at current oil prices. The oil price has tumbled 40 per cent in recent months, dragging down the value and margins of oil and gas producers. Red Fork's major lender, Guggenheim Corporate Funding, called in the receivers this week
  • The Other America

    12/11/2014 4:30:44 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | December 11, 2014 | Victor Davis Hanson
    Germany's first chancellor, Otto von Bismarck, supposedly once said that there was "a special providence for drunkards, fools and the United States of America." Apparently, late 19th century observers could not quite explain how the U.S. thrived when by logic it should not. That paradox has never been more true than today. The U.S. government now owes more than $18 trillion in long-term debt. Even after recent income tax hikes for the very wealthy and huge cuts in the defense budget, the Obama administration will still run an annual budget deficit of nearly $500 billion. No government official dares to...
  • Venezuela, Not Russia, Will Be The First Domino To Fall With The Price of Oil

    12/10/2014 5:11:33 PM PST · by Maelstorm · 27 replies
    http://dailycaller.com ^ | 2/10/2014 | KEITH NAUGHTON
    The oil price collapse has brought about excited speculation that the end may be near for Putin, Iran and the American oil shale industry. While the oil price downturn will definitely stress these three players, the prime candidate for political collapse is Venezuela – with significant ramifications for the United States. And it’s likely the Obama administration is not prepared at all. Venezuela has all three factors present for an imminent political implosion: 1) severe and worsening economic distress, 2) an organized political opposition, and 3) disunity in its security services. Russia and Iran may be in tough economic straits,...
  • Venezuela: U.S. flooding market with fracking-produced oil

    12/10/2014 5:06:25 PM PST · by Maelstorm · 86 replies
    http://latino.foxnews.com ^ | December 10, 2014 | EFE
    Venezuelan President Nicolas Maduro blasted the United States Wednesday for its large-scale use of hydraulic fracturing, or fracking, saying it is flooding the market with oil produced with environmentally destructive methods. The United States, one of the world's biggest practitioners of fracking, a controversial technique that involves pumping a pressurized fluid - usually composed of water, sand and chemicals - into a shale formation to create a fracture in the rock layer and release trapped petroleum or natural gas - has used that technology to double oil output to 8.5 million barrels per day in six years.
  • Obama in Miami: 'We can't just drill our way to lower gas prices' (2012 article)

    12/10/2014 3:58:40 PM PST · by HereInTheHeartland · 14 replies
    Tampa Bay Times ^ | Alex Leary
    "It means that anyone who tells you we can drill our way out of this problem doesn’t know what they’re talking about – or isn’t telling you the truth. The United States consumes more than a fifth of the world’s oil. But we only have 2% of the world’s oil reserves. That means we can’t just rely on fossil fuels from the last century. "
  • Why America's fracking revolution won't be hurt (much) by low oil prices

    12/08/2014 9:12:53 PM PST · by Maelstorm · 63 replies
    http://fortune.com ^ | DECEMBER 2, 2014 | by Brian Dumaine
    The conventional wisdom has it that many U.S. oil producers can’t make money with oil prices below $85 a barrel. Here’s why the experts may be wrong. For U.S. consumers, there’s plenty to like about plummeting oil prices. After all, the cost of gasoline and home heating oil is falling dramatically as well. Since June, the price of WTI crude has dropped from about $101 a barrel to a recent price of $65, or roughly a 35% decline. And the average price of a gallon of unleaded gasoline in the U.S. has plunged to $2.76 from $3.27 a year ago,...
  • Cheap Oil Also Means Cheap Copper, Corn and Sugar: Commodities

    12/08/2014 9:06:30 PM PST · by Maelstorm · 5 replies
    http://nr.news-republic.com ^ | Dec 9, 2014 | Isaac Arnsdorf
    Lower fuel prices are compounding the longest commodity slump in a generation. Because energy accounts for as much as half the cost to produce food and metals, all sorts of commodities will keep dropping, according to Societe Generale SA and Citigroup Inc. With inventories ample and slowing economies eroding demand, cheaper oil lowers the price floor for mining companies and farmers to remain profitable. Corn may drop another 3 percent, cotton 6.5 percent and gold as much as 5 percent, SocGen estimates. Costs are falling as surpluses emerge in copper and sugar and as the economy slows in China, the...
  • 2014 elections: Lessons, new landscape, new challenges (Commies have a problem...)

    12/07/2014 12:40:39 PM PST · by Libloather · 20 replies
    CPUSA ^ | 11/21/14 | John Bachtell
    There's no sugarcoating it. The November 2014 election results marked a serious setback for Democrats, the anti-ultra right alliance and the broad people's coalition led by labor. The fight for jobs at living wages, workers and immigrant rights, racial and gender equality, for climate justice and peace proceeds under more unfavorable conditions. The election resulted in a wave of victories for the Republicans and ultra right that may have surpassed 2010. However, while the GOP claims otherwise, it was not a mandate for right-wing policies. Grassroots efforts by labor and its allies mobilized millions of voters. Tens of thousands of...
  • More municipal bans on fracking pose setback to domestic energy boom

    12/06/2014 10:46:50 PM PST · by Olog-hai · 8 replies
    Fox News ^ | December 06, 2014 | (With AP)
    The surge in domestic-energy production that has created millions of new jobs and abundant natural gas and oil is now facing a potential setback, cities across the country imposing bans on the widely-used deep-drilling process known as fracking. At least three U.S. cities and two counties in the November elections voted in favor of such a ban. And courts in Pennsylvania and New York have recently ruled in favor of letting cities have some control over the drilling. There is little surprise that Texas is at the forefront of the fight between energy companies and other fracking supporters and critics...
  • A 3-Sentence Explanation Of What Crashing Oil Prices Mean For America [Who wins, who loses]

    12/04/2014 12:52:59 PM PST · by SeekAndFind · 14 replies
    Business Insider ^ | 12/04/2014 | Sam Ro
    The price of oil has crashed to multi-year lows.Falling energy prices are good for the US consumer. But they're bad for the big US energy producers.Remember, technological advances in hydraulic fracturing have sparked the US shale energy boom, which has been a source of economic growth thanks to capital expenditures and job creation in the industry. Low oil prices may put this story at risk.So on net, are falling prices good or bad?Charles Schwab's Liz Ann Sonders offers some simple math that puts it all into perspective. In three sentences:Consumer spending represents 68% of the US economy. Oil and gas...
  • Governor Sarah Palin on Consumerism, Russia and Energy Production • Varney & Co.

    12/03/2014 4:37:07 PM PST · by KC_Lion · 7 replies
    Conservatives 4 Palin ^ | December 3rd, 2014 | iizthatiiz
    Governor Sarah Palin weighs in on consumerism, Christmas, and other issues including Russia and energy production with Fox Business host Stuart Varney.https://www.youtube.com/watch?v=IAHc0hXGZk4#t=230
  • Fracking Debunks Obama's 'We Can't Drill Our Way Out' Mantra

    12/04/2014 4:58:52 AM PST · by IBD editorial writer · 29 replies
    Investor's Business Daily ^ | 12/3/2014 | IBD Staff
    Just how wrongheaded can someone be about America's energy situation? Take a look at President Obama's long history of false claims about oil. If the president has a mantra, it has to be "We can't drill our way out of this problem." Any time he talks about energy, he trots out that phrase. Whatever the problem, increasing domestic oil supply is never the solution.
  • Will New York be the site of the next energy boom? [It's all up to Gov. Andrew Cuomo now]

    12/02/2014 7:48:09 PM PST · by SeekAndFind · 16 replies
    Hotair ^ | 12/02/2014 | Jazz Shaw
    Fresh off his 72% reelection victory in New York’s 27th District, Congressman Chris Collins has set to work attempting to deliver on his promises to the voters. One of the biggest challenges he faces is the effort to help turn things around in the Empire State on the energy front. New York, just like Pennsylvania and West Virginia, sits on two major shale oil reserves. But unlike their neighbors to the south, where jobs have multiplied and personal wealth has moved upward, New Yorkers have not been able to benefit from these opportunities. Democrats in charge of the state...
  • After A Bloodbath In Oil, What Next?

    12/01/2014 6:44:09 AM PST · by thackney · 34 replies
    Forbes ^ | 12/01/2014 | Christopher Helman
    ...“In 2016, when OPEC completes this objective of cleaning up the American marginal market, the oil price will start growing again,” said Fedun. “The shale boom is on a par with the dot-com boom. The strong players will remain, the weak ones will vanish.” No surprise, Friday was a bloodbath for shares of America’s oil and gas independents. Goodrich Petroleum fell 34% on the day, and is off 79% in three months. Swift Energy fell 30%, Penn Virginia and Sanchez Energy down 29%, SandRidge 26%. Some of these, like Swift, are highly leveraged, and there’s even some concern that bidding...
  • Fascist Fact Checkers Can Apologize Now

    12/02/2014 7:21:09 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | December 2, 2014 | John Ransom
    Well after Thanksgiving we now have much more for which to be thankful. West Texas Intermediate crude oil slashed below $65 today as the market continued to chew on oversupply in face of a global economic slowdown. On Thanksgiving Day the cartel formerly known as OPEC met and decided to leave output unchanged and let free markets correct price and supply issues. Oil prices then plunged over ten percent on Friday, and some are asking if oil will go as low as $40 a barrel. I donÂ’t know about that, but since June when West Texas oil hit $108 prices...
  • OPEC Cannot Kill U.S. Shale Oil Boom with Low Crude Prices

    12/01/2014 3:18:44 PM PST · by ckilmer · 29 replies
    exchangegoldforcash ^ | Chriss Street
    OPEC Cannot Kill U.S. Shale Oil Boom with Low Crude Prices Saudi Arabia, Kuwait, and United Arab Emirates—the only OPEC members financially solvent enough to afford temporarily reducing crude oil production—are believed to have refused to cut output on November 27, 2014 to push oil prices down to $68 a barrel in hopes of killing the U.S. oil boom. But unlike traditional oil wells that lose future production capability if temporarily shut down, U.S. shale oil wells have the flexibility to close and then reopen without a long-term loss of production capability.     From an annual low of $1.21 a barrel in...
  • Here are the breakeven oil prices for every drilling project in the world

    12/01/2014 2:15:44 PM PST · by ckilmer · 53 replies
    business.financialpost.com ^ | December 1, 2014 8:40 AM ET | Myles Udland
    Here are the breakeven oil prices for every drilling project in the world Myles Udland, Business Insider | December 1, 2014 8:40 AM ETMore from Business Insider BloombergCitigroup said companies are canceling projects that require oil prices above $80 a barrel to break-even as the futures market has made hedging above that price a challenge.   TwitterGoogle+LinkedInEmailCommentsMore Oil is getting slammed.On Thursday, OPEC announced that it would not curb production to combat the decline in oil prices, which have been blamed in part on a global supply glut.And now that oil prices have fallen more than 30% in just the last...
  • Russian Money Suspected Behind Fracking Protests

    12/01/2014 6:08:30 AM PST · by Theoria · 18 replies
    The New York Times ^ | 30 Nov 2014 | ANDREW HIGGINS
    PUNGESTI, Romania — Vlasa Mircia, the mayor of this destitute village in eastern Romania, thought he had struck it rich when the American energy giant Chevron showed up here last year and leased a plot of land he owned for exploratory shale gas drilling. But the encounter between big business and rural Romania quickly turned into a nightmare. The village became a magnet for activists from across the country opposed to hydraulic fracturing, or fracking. Violent clashes broke out between the police and protesters. The mayor, one of the few locals who sided openly with Chevron, was run out of...
  • OIL GIANT WARNS: Crude Could Crash To $30

    11/30/2014 6:03:03 PM PST · by blam · 109 replies
    Financial Post businessinsider.com ^ | 11-30-2014 | Claudia Cattaneo, Financial Post; Myles Udland
    Myles Udland November 30, 2014More than 50% lower. That is how far Canadian billionaire Murray Edwards, chairman of Canadian Natural Resource, thinks oil prices can fall from here. Speaking with Canadian business publication Financial Post, Edwards said, "Prices could spike down to $30, $40. It got down to $35 in 2008, for a very short period of time." Edwards told Financial Post's Claudia Cattaneo that, "On a given day you can have market fluctuations where prices fluctuate far more than the underlying economic value of the unit," adding that if oil falls to $30 or $40 a barrel he doesn't...
  • Saudi’s Dangerous Gambit

    11/29/2014 8:41:39 AM PST · by Kaslin · 54 replies
    Townhall.com ^ | November 29, 2014 | Charles Payne
    The biggest news for the United States stock market and American consumers happened on Thanksgiving in a far off desert kingdom. Saudi Arabia has taken the big gambit of not cutting production which means downward pressure on oil will continue, and that means less revenue for them. Why would a nation that gets 90% of their revenue from oil allow the price to plunge? I’ve said it several times, but I’m more convinced this is their (last) chance to crush, or at least derail/stall, America’s fracking miracle.It’s a war without bullets, but make no mistake, it's also about no prisoners....
  • Chestnut CEO: Better Communication Might Have Prevented Denton Ban

    11/25/2014 6:19:47 PM PST · by 2ndDivisionVet · 12 replies
    Rigzone ^ | November 19, 2014 | Gene Lockard
    On election night, voters in Denton, Texas, a city of about 113,000 people northwest of Dallas, voted to ban fracking within the city limits. Appeals were immediately filed; Denton is in oil and gas country – in the Barnett Shale – where fossil fuel resources are not only creating significant growth for the industry, but also lining the coffers of local municipalities and governmental entities within the state. To find out more about what the ban means, and what lies ahead, Rigzone interviewed Mark A. Plummer, CEO and owner of Chestnut Exploration Companies, headquartered in Richardson, a suburb of Dallas,...
  • Follow The Sand To The Real Fracking Boom

    11/25/2014 5:39:45 PM PST · by bananaman22 · 25 replies
    Oilprice.com ^ | 11/25/2014 | James Stafford
    When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom. Demand is exploding for “frac sand”--a durable, high-purity quartz sand used to help produce petroleum fluids and prop up man-made fractures in shale rock formations through which oil and gas flows—turning this segment into the top driver of value in the shale revolution. “One of the major players in Eagle Ford is saying they’re short 6 million tons of 100...
  • Drill, Baby, Drill! US Fracking Drives Down Saudi Oil Prices

    11/18/2014 7:30:44 PM PST · by 2ndDivisionVet · 19 replies
    The Excellence In Broadcasting Network ^ | November 18, 2014 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Okay. I mentioned the plummeting oil price, and there are a lot of people trying to figure out, why is this happening? There are a lot of people that do not understand what it is that's driving down the crude oil price. What explains it? When it happens and it's a mystery, people look to traditional explanations, "Well, are people driving less? Is the demand for gasoline down? The economy bad? What's going on?" And in this case that's not the answer The simple explanation for much, not at all, but for much of the drop in...
  • Texas messes with Denton

    11/13/2014 8:39:24 PM PST · by 2ndDivisionVet · 25 replies
    al Jazeera's The Scrutineer Blog ^ | November 11, 2014 | Gregg Levine
    A week after a historic vote to ban hydraulic fracturing (or fracking — the controversial drilling method that forces oil and gas from shale formations with pressurized water, sand and a host of chemicals), Denton, Texas, has been told the state will continue to issue drilling permits within the city limits. “It’s my job to give permits, not Denton’s,” said Christi Craddick, chairwoman of the Railroad Commission of Texas. “We’re going to continue permitting up there because that’s my job.” Also known as the Texas Railroad Commission or TRC, the three-member state body actually has no jurisdiction over the rails,...
  • Texas Leads Best States For Future Job Growth

    11/13/2014 8:08:23 PM PST · by 2ndDivisionVet · 16 replies
    Forbes ^ | November 12, 2014 | Kurt Badenhausen
    Rick Perry ascended from Lieutenant Governor to Governor of Texas in December 2000 when then-governor George Bush resigned after being elected the 43rd President of the United States. Perry will retire in January with the tenth longest gubernatorial tenure in U.S. history. Perry made job creation one of his principle mantras, and he has overseen remarkable employment gains under his watch with 2.1 million jobs added during his tenure. The total represents 30% of the jobs added in the U.S. since 2000 and more than twice as many as any other state. The so-called “Texas miracle” does not show any...
  • Gov’t tells US drivers to get used to cheap gas

    11/12/2014 10:41:16 PM PST · by Olog-hai · 77 replies
    Associated Press ^ | Nov 13, 2014 12:08 AM EST | Jonathan Fahey
    Those low gas prices on station signs aren’t going away soon, the government says. In a dramatic shift from previous forecasts, the Energy Department predicted Wednesday that the average price of gasoline in the U.S. will be below $2.94 a gallon in 2015. That a 44-cent drop from an outlook issued just a month ago. If the sharply lower estimate holds true, U.S. consumers will save $61 billion on gas compared with this year. Rising oil production, particularly in the U.S., and weak spots in the global economy have led to a sharp reduction in oil prices over the past...
  • Gunnison sage grouse gets federal protection ( Colorado and Utah )

    11/12/2014 10:30:17 AM PST · by george76 · 18 replies
    ap ^ | Nov. 12, 2014
    Federal wildlife officials have granted protection to the Gunnison sage grouse, a move that could to bring restrictions on oil and gas drilling and other land uses to preserve the bird's habitat in Colorado and Utah. ... They're related to the greater sage grouse, which is at the center of a separate and larger debate over federal protection across 11 Western states.
  • Lawsuits Filed in Response to Fracking Ban in Denton, TX

    11/11/2014 9:13:15 AM PST · by ThethoughtsofGreg · 15 replies
    American Legislator ^ | 11-11-14 | John Eick
    In what many pundits have described as a “wave election,” many candidates who embraced and campaigned on the principles of free-markets and limited government saw great success this past Tuesday. In contrast, however, the citizens of Denton, TX voted via referendum to ban the oil and gas drilling technique commonly known as hydraulic fracturing. Proponents of the ban cited contamination of groundwater and seismic activity associated with the disposal of wastewater as reasons to support the ban. Interestingly, there has never before been a proven documented case of hydraulic fracturing contaminating aquifers and the precise relationship between injection wells and...
  • Home stretch for drilling law (2nd NM county prepared to prevent O&G drilling)

    11/10/2014 5:26:09 PM PST · by CedarDave · 25 replies
    Las Vegas Optic ^ | November 9, 2014 | Martin Salazar
    The San Miguel County Commission on Wednesday will vote on whether to adopt an oil and gas drilling ordinance that imposes some of the strictest requirements on hydrocarbon exploration in the country. The Commission meeting begins at 1:30 p.m. at the County Commission chambers, on the second floor of the old courthouse building. ... Commissioners held a four-hour hearing on the proposed ordinance and Comprehensive Plan changes last Monday, taking public comment from more than three dozen people. Among those present at last Monday’s hearing was Robert Freilich, the Los Angeles planning and zoning attorney hired by the county to...
  • Saudis have reasons better than shale to let prices fall

    11/09/2014 6:06:10 AM PST · by thackney · 29 replies
    Oil & Gas Journal ^ | 11/07/2014 | Bob Tippee
    Only by overlooking important forces in markets and politics can anyone assert that Saudi Arabia is letting crude prices fall mainly to extinguish competition from North American shale oil. With oil, the Saudi regime always takes the long view. With security, however, its motivations are more immediate. The kingdom faces unusually intense threats: Islamic State (IS) militancy in Iraq and Syria, the chance that Iran won’t agree by a Nov. 24 deadline to suspend its nuclear ambitions, terrorist insurrections from restive Yemen, durability of the menacing government of Bashar Al-Assad in Damascus. Falling oil prices hurt the IS and Iran,...
  • Canada, China sign currency deal aimed at boosting trade[Canada dumps dollar]

    11/09/2014 12:37:40 AM PST · by Enlightened1 · 15 replies
    CBC News ^ | 11/08/14
    Allows direct business between Canadian dollar and Chinese yuan, cutting exchange costs. Canada and China have signed a reciprocal currency deal that's expected to dramatically boost exports. The hub will foster far easier trade between the Canadian dollar and the Chinese yuan, also known as the renminbi. It makes Canada the first country in the Americas to have a deal to trade in the renminbi.
  • Waterless Fracking promises more energy, less trouble

    11/07/2014 6:40:39 PM PST · by Ernest_at_the_Beach · 42 replies
    wattsupwiththat.com ^ | November 7, 2014 | Anthony Watts
    Waterless Fracking may increase access to more energy, without the need to deal with the waste water.From the article: Researchers at the Colorado School of Mines claim they have developed a method to unlock hydrocarbons trapped in shale with using any water at all. They are seeking to perfect Cryogenic fracturing, which replaces water with searing cold liquid nitrogen (or carbon dioxide). Used at temperatures below minus 321 Fahrenheit, it is pumped underground at high pressure. Once it comes into contact with the heated, pressurized shale, a reaction occurs which caused the shale to crack open and creates fissures...
  • The Progressive Victories You Didn't Hear About in the Midterms -- And Some That Could Happen

    11/07/2014 5:22:04 PM PST · by 2ndDivisionVet · 12 replies
    The American Prospect ^ | November 7, 2014 | Peter Dreier
    Across the nation, voters passed measures against fracking and abortion restrictions, and for the minimum wage, paid sick leave, public safety and gun reform. Tuesday’s Republican wave of election victories did not reflect public opinion or the public mood. Instead it was the result of the GOP’s triumph in changing the rules of democracy to favor big business and conservative interest groups, including the triumphs of corporate money and voter suppression. But while Democrat candidates were going down to defeat, liberals and progressive won some impressive but little-publicized victories on important issues—including minimum wage hikes—especially in red and purple states,...
  • Fracking Can Now Begin In Illinois

    11/06/2014 1:54:52 PM PST · by ThethoughtsofGreg · 11 replies
    American Legislator ^ | 11-6-14 | John Eick
    Big news today out of Illinois: fracking can soon begin. Today, the 12-member Illinois Joint Committee on Administrative Rules adopted regulations that govern hydraulic fracturing within the state, which will be made public by November 15th. Oil and gas companies can start applying for permits later this month. The rules will require such permits to be approved within 60 days. Many in southern Illinois have long been pushing for hydraulic fracturing, citing a number of potential benefits, including increased tax revenue, high-paying jobs and additional investment. According to a study released two years ago by the Illinois Chamber Foundation, the...
  • Saudi oil-price cut takes market by surprise

    11/04/2014 4:57:33 AM PST · by Zhang Fei · 119 replies
    Market Watch ^ | Nov 4, 2014 2:56 a.m. ET | Nicole Freeman
    Oil prices tumbled to their lowest point in more than two years after Saudi Arabia unexpectedly cut prices for crude sold to the U.S., likely paving the way for further declines and adding to pressure on American energy producers. Meanwhile, Saudi Arabia raised the prices for its oil in other locations, including Asia, where the country had cut its prices for four consecutive months.
  • Denton ready for legal fight if fracking ban OK’d

    11/03/2014 9:20:08 PM PST · by 2ndDivisionVet · 4 replies
    DENTON, Texas (AP) — The mayor of the North Texas city weighing a ban on hydraulic fracturing this week said he’s prepared for the court battles that might result if the ban passes. Denton Mayor Chris Watts told the Fort Worth Star-Telegram that he expects Tuesday’s referendum “may be just the beginning for us.” “The vote is not the end of the story,” Watts said. “It may just be the beginning. It may be decided at the courthouse or at the Statehouse.”(continued)
  • Crashing Oil Prices Could Bring The US Fracking Boom To A Sudden And Disastrous End

    11/03/2014 2:09:43 PM PST · by SeekAndFind · 80 replies
    Business Insider ^ | 11/3/2014 | Sam ro
    Technological advances in hydraulic fracturing have fueled what some call the Great American Shale Boom. Oil and natural gas extracted from shale basins have left the US flush with energy. It's been a boon for US energy-related jobs and equipment suppliers. But it's not cheap to tap these so-called unconventional plays. In other words, crashing oil prices will soon make many of these energy sources money-losing projects. Morgan Stanley estimates the average breakeven oil price for these US plays to be about $76 to $77 per barrel. Goldman Sachs puts that number at closer to $75. If the price of...
  • Oil prices are dropping but the fracking revolution rolls on

    11/02/2014 1:03:00 PM PST · by Jack Hydrazine · 19 replies
    Yahoo! Finance ^ | 31OCT2014 | Shawna Ohm
    $75 dollars a barrel – that’s the price crude oil would have to hit for frackers in North Dakota’s Bakken fields to feel pressure to slow new production, according to Greg Zuckerman, author of “The Frackers” and a special reporter at the Wall Street Journal. “All these guys have hedged. They’ve got production [and] they’ve already got the acreage. They’re not gonna stop but maybe they’ll kind of slow new stuff.” Fracking in other parts of the country, though, is likely to be much more resilient. In Texas’s Eagle Ford and Permian basin, Zuckerman says oil prices would have to...
  • Author: Fracking Reaffirms American Exceptionalism

    10/30/2014 9:33:20 PM PDT · by 2ndDivisionVet · 4 replies
    The Daily Caller ^ | October 29, 2014 | Michael Bastasch
    The energy boom unleashed by hydraulic fracturing and horizontal drilling couldn’t have happened anywhere but America, says author and journalist Gregory Zuckerman. Zuckerman say America’s entrepreneurial spirit, knowledge and property rights make fracking a uniquely American story. “This reaffirms the concept of American exceptionalism,” Zuckerman told The Daily Caller News Foundation. “We’ve got advantages the rest of the world doesn’t have and it’s going to lead to America’s economic dominance for the next few years.” Zuckerman’s new book “The Frackers” is the story of how a few desperate entrepreneurs and wild cat drillers risked everything to extract oil and natural...
  • 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...
  • 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...