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Keyword: fracking

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  • Halliburton, Baker Hughes buy more sand, railcars as demand piles up

    10/22/2014 6:45:32 AM PDT · by Rodamala · 1 replies
    EagleFordTexas.com ^ | October 21, 2014 | Reuters
    As fracking accelerates in North American shale fields, oilfield services providers Halliburton Co and Baker Hughes Inc are stockpiling sand to protect themselves against rising costs and are buying more railcars to transport the haul.
  • 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...
  • 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....
  • 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 peoples 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. Ive been around for a while, and Ive seldom heard such gibberish. The latest stock market scare stems from a bunch of fears such as...
  • 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...
  • Recession in Russia, revolt in Venezuela? The knock-on effects of tumbling oil prices

    10/16/2014 4:04:48 PM PDT · by Lorianne · 14 replies
    Guardian UK ^ | 15 October 2017 | Alberto Nardelli, bunch of other people
    The sudden slump in oil prices, which have fallen 15% in the past three months, has sent tremors through the capitals of the worlds great oil powers, many of whom could face testing budget crunches if the tendency persists. Higher output coupled with weaker demand from China and Europe has driven the price of crude down to $85 its lowest for four years. The US also now produces 65% more oil than it did five years ago following the boom in shale production. The rise has contributed to the global glut of crude and allowed the US to import...
  • 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...
  • Without Fracking, Oil Prices Would be at Record Highs

    10/08/2014 7:31:41 PM PDT · by MichCapCon · 13 replies
    Michigan Capitol Confidential ^ | 10/8/2014 | Tom Gantert
    Crude oil would cost at least a record-setting $150-a-barrel today if not for increased oil production in the United States, according to the U.S. Energy Information Administration. EIA chief Adam Sieminski made the comment in a recent interview with Reuters. Sieminski was appointed by President Barack Obama as EIA Administrator in 2012. What the EIA Administrator is telling us is without fracking in the United States wed be paying well over $4-a-gallon for gasoline and our economy would truly be in the tank, said Daniel Kish, senior vice president of policy at the Institute for Energy Research, a non-profit research...
  • Shell testing new laser-based sensor to find shale gas

    10/08/2014 7:45:45 AM PDT · by ckilmer · 9 replies
    fuelfix ^ | October 7, 2014 at 4:18 pm | Ryan Holeywell
        Shell testing new laser-based sensor to find shale gas Posted on October 7, 2014 at 4:18 pm by Ryan Holeywell in General, Technology WellDog CEO John Pope, right, and Art Toews, gas testing technology specialist, hold a device that uses lasers to help identify shale gas reservoirs (Ryan Holeywell/Houston Chronicle) HOUSTON – Royal Dutch Shell is testing a new device that uses lasers to help identify shale gas reservoirs, Wyoming-based oilfield service company WellDog announced Tuesday.The device, which weights more than 100 pounds, is dropped into a wellbore where it shoots lasers and measures the frequency at which...
  • New Technology has Destroyed the Myth of Peak Oil

    10/06/2014 1:30:37 PM PDT · by Kaslin · 34 replies
    Townhall.com ^ | October 6, 2014 | Thomas Miller
    The Wall Street Journal ran an article recently exploring why the Peak Oil Predictions had not come true. Written by Russell Gold, the Journals senior energy reporter based in Austin, Texas, who himself released his first book called The Boom: How Fracking Ignited the American Energy Revolution and Changed the World, the article was an excellent walk through the ups and downs of the oil industry going back even to the late 1800s. For example, did you know that John D. Rockefellers partner in Standard Oil, John Archbold, said, I will drink every gallon (of oil) produced west of the...
  • U.S. about to pass Saudi Arabia as largest liquid petroleum producer

    09/30/2014 8:26:35 PM PDT · by 2ndDivisionVet · 14 replies
    Hot Air ^ | September 30, 2014 | Bruce McQuain
    The Financial Times [subscription] is reporting that the US is poised to become the worlds largest producer of liquid petroleum (oil and natural gas liquids): US production of oil and related liquids such as ethane and propane was neck-and-neck with Saudi Arabia in June and again in August at about 11.5m barrels a day, according to the International Energy Agency, the watchdog backed by rich countries. With US production continuing to boom, its output is set to exceed Saudi Arabias this month or next for the first time since 1991. [...] Rising oil and gas production has caused the US...
  • Brilliant pro-fracking ad

    09/30/2014 2:27:36 PM PDT · by 2ndDivisionVet · 6 replies
    President & CEO Magazine ^ | August 13, 2014
    Ill tell Vladimir!(VIDEO-AT-LINK)I thought this was hilarious. Enjoy!
  • USGS study links fracking wastewater injection with surge in Raton Basin earthquakes

    09/27/2014 10:50:10 PM PDT · by GonzoII · 27 replies
    Summit County Voice ^ | September 27, 2014 | Bob Berwyn
    Scientists say its almost certain that massive injections of waste water caused recent quakes in the Raton Basin, including a 5.3 tremor in 2011 FRISCO A surge in earthquakes in southern Colorado and New Mexico has almost certainly been caused by the injection of fracking wastewater deep into the ground, U.S. Geological Survey scientists reported last week. The study details several lines of evidence directly linking the injection wells to the seismicity. The timing and location of the quakes is clearly linked with the the documented pattern of injected wastewater. Detailed investigations of two seismic sequences (2001 and 2011)...
  • Climate Marchers' Conundrum: Whether To Embrace Shale Gas?

    09/27/2014 5:20:42 PM PDT · by 2ndDivisionVet · 23 replies
    Forbes ^ | September 26, 2014 | Ken Silverstein
    President Obama, Ban Ki-moon and 300,000 others showed up in New York City this week to support the use of modern technologies and cleaner fuels. But at least four notable heads-of-state stayed home, each of whom is just as important in the battle against global warming. Missing: China, India, Russia and Canada. While it may seem hard to reconcile that some of the globes biggest polluters skipped the event they still sent delegations as a show of respect it is not necessarily a blow to the cause. Thats because of unconventional shale gas and the wealth of...
  • Shale Revolution Deniers Face An Inconvenient Truth

    09/24/2014 5:01:46 AM PDT · by 2ndDivisionVet · 5 replies
    Investor's Business Daily Brain Trust ^ | September 23, 2014 | Mark Perry
    Despite turning the U.S. into the world's largest producer of natural gas and driving a 3 million barrel per day surge in U.S. oil production in just the last three years, the shale revolution still has its doubters. They couldn't be more wrong. The Montreal-based Centre for Research on Globalization recently dismissed shale fracking as a "Ponzi scheme" and "this decade's version of the dot-com bubble" that's about to burst. But time and again over decades, the naysayers and "peak oil" advocates have grossly underestimated the energy industry's ability to innovate and beat production forecasts. Today's shale pessimists continue to...
  • The Science Is Settled: Fracking Is Safe

    09/21/2014 6:41:37 AM PDT · by rktman · 12 replies
    americanthinker.com ^ | 9/21/2014 | Jeffrey Folks
    Funded by the National Science Foundation and Duke University, a team of scientists at Ohio State and other universities conducted extensive research into the purported link between groundwater pollution and fracking. (The full title of the report, available online, is Noble Gases Identify the Mechanisms of Fugitive Gas Contamination in Drinking-Water Wells Overlying the Marcellus and Barnett Shales.) In an examination of 130 wells, the researchers found that, when properly conducted, no groundwater or aquifer pollution resulted from the practice of fracking itself.
  • What Drives Anti-Fracking Zealots?

    09/21/2014 8:47:45 AM PDT · by Kaslin · 26 replies
    Townhall.com ^ | September 21, 2014 | Paul Driessen
    Recent news stories underscore the tremendous benefits brought by Americas fracking revolution. * The shale oil production boom could boost US crude production to 9.5 million barrels of oil per day (bopd) next year, reducing Americas crude oil imports to 21% of domestic demand, the lowest level since 1968. Output from fracked wells represents 43% of all US oil production and 67% of natural gas production; its oil could reach 10 million bopd by 2016, the Energy Information Administration says. * The global economy saves $4.9 billion per day in oil spending because of the shale oil boom. Without it...
  • Oklahoma City oil producer unveils new formation

    09/21/2014 6:08:07 AM PDT · by ckilmer · 14 replies
    <p>OKLAHOMA CITY (AP) -- An Oklahoma City-based energy company has unveiled a new formation in south-central Oklahoma that the company's CEO said will elevate the state as an oil producer.</p> <p>Continental Resources Inc. said western Oklahoma's Springer Shale deposit is in the heart of the South Central Oklahoma Oil Province, Continental's last big discovery, The Oklahoman reported (http://bit.ly/1qk32sd).</p>
  • Why the Permian shale boom transformed US energy markets

    09/20/2014 8:56:02 AM PDT · by ckilmer · 8 replies
    marketrealist ^ | Sep 18, 2014 10:31 am EDT | By Alex Chamberlin
    Why the Permian shale boom transformed US energy markets By Alex Chamberlin - Disclosure  • Sep 18, 2014 10:31 am EDT U.S. shale boom transformed U.S. energy marketsAccording to the U.S. Energy Information Administration (or EIA), the top seven unconventional oil plays accounted for 95% of domestic oil production growth. They also accounted for all domestic natural gas production growth during 2011–2013.Permian Basin crude oilAccording to the EIA, the Permian Basin in west Texas and eastern New Mexico is the largest crude oil-producing region in the U.S.Enlarge GraphCrude oil production from the Permian Basin increased from 850,000 barrels per day...
  • President Obama has a huge gas problem

    09/18/2014 1:44:05 AM PDT · by 2ndDivisionVet · 27 replies
    al-Jazeera ^ | September 15, 2014 | Peter Moskowitz
    Ahead of the Peoples Climate March, activists say Obama must address fracking if he wants to leave a meaningful legacy.Later this month, hundreds of delegates will gather inside the U.N. to talk about climate change. President Barack Obama plans to attend the climate summit and reportedly wants work on a deal with other world leaders to name and shame countries that arent actively pursuing serious climate action. But outside the U.N., thousands of activists will be protesting with one message: Whatever Obama accomplishes at the U.N., it wont be enough to save his climate legacy. The Obama administration has been...
  • Landmark fracking study finds no water pollution

    09/16/2014 1:43:10 PM PDT · by Olog-hai · 14 replies
    Associated Press ^ | Sep 16, 2014 3:05 PM EDT | Kevin Begos
    The final report from a landmark federal study on hydraulic fracturing, or fracking, found no evidence that chemicals or brine water from the gas drilling process moved upward to contaminate drinking water at a site in western Pennsylvania. The Department of Energy report, released Monday, was the first time an energy company allowed independent monitoring of a drilling site during the fracking process and for 18 months afterward. After those months of monitoring, researchers found that the chemical-laced fluids used to free gas stayed about 5,000 feet below drinking water supplies. Scientists used tracer fluids, seismic monitoring, and other tests...
  • Weak Wells Not Fracking Caused US Gas Leaks Into Water

    09/16/2014 6:12:51 AM PDT · by lbryce · 19 replies
    BBC ^ | September 15, 2015 | Matt McGrath
    A new study suggests that the contamination of drinking water by shale gas is due to faulty wells and not hydraulic fracturing. Researchers in the US analysed the gas content in 130 water wells in Pennsylvania and Texas. They were able to trace the methane found in the water to problems with the casing or lining of wells drilled to extract the gas. The report appears in the Proceedings of the National Academy of Sciences. In many parts of the US, the migration of gas into drinking water has raised questions about the fracking process.
  • Study: Leaky wells, not fracking, taint water

    09/15/2014 2:52:33 PM PDT · by grundle · 5 replies
    Associated Press ^ | September 15, 2014 | Seth Borenstein
    WASHINGTON (AP) A new study says that the drilling procedure called fracking didnt cause much-publicized cases of tainted water, blaming contamination on leaky natural gas wells instead. The study finds that eight hydraulically fractured wells in Pennsylvania and Texas leaked gas because the piping and cement seals in the wells themselves werent working properly.
  • Denton extends drilling moratorium until 2015; vote on frack ban looms

    09/12/2014 1:53:51 PM PDT · by 2ndDivisionVet · 10 replies
    The Dallas Business Journal ^ | September 10, 2014 | Nicholas Sakelaris
    Land-use conflicts between Barnett Shale wells and homes continues to pose a major impediment to Dentons future quality of life and economic development, gas well administrator Darren Groth told the City Council Tuesday. The Council agreed, voting unanimously Tuesday to approve a moratorium on gas wells applications and permits through Jan. 20. This moratorium is separate from the Nov. 4 referendum to ban hydraulic fracking in the city of Denton, a first for Texas. The four-and-a-half-month extension gives city staff time to iron out problems with the city ordinance to prevent a repeat of what happened in the Vintage neighborhood...
  • Fracking dollars help save a sports icon in fracking-free New York (NFL's Buffalo Bills)

    09/12/2014 1:37:43 PM PDT · by 2ndDivisionVet · 6 replies
    The Barrel ^ | September 12, 2014 | John Kingston
    Another chapter in the never-ending love/hate relationship between New York and fracking. The former has banned the latter, as were sure you know. First, lets go back to 2010. East Resources, which is a privately held independent oil and gas company operating in the Marcellus, among other areas, sells a vast amount of acreage in the Marcellus and other areas to Royal Dutch Shell for $4.7 billion. Then go back to earlier this year. Ralph Wilson, the only man who ever owned the Buffalo Bills, dies in March. So his heirs put the Billswho havent made the NFL playoffs since...
  • Energy Minister: Half of Scottish Oil Reserves Yet to Be Exploited

    09/12/2014 12:24:40 PM PDT · by Lorianne · 19 replies
    RIA Novosti ^ | 10 September 2014 | Mark Hirst
    Scotlands oil and gas sector is facing a bright future as half of oil reserves remain to be exploited, the Scottish Government's Minister for Energy, Enterprise and Tourism Fergus Ewing said Wednesday, commenting on a new study. Earlier, world leading oil expert Professor Alex Kemp, by using detailed financial modelling, predicted significant discoveries in Scottish oil sector made over the next 30 years. His new predictions based on that modelling show a bright future for Scotlands oil and gas sector for decades to come with 99 new economic discoveries over the next three decades, Ewing told RIA...
  • Barnet Shale still alive

    09/12/2014 6:12:36 AM PDT · by q_an_a · 7 replies
    Dallas Business Journal ^ | 9.10.2014 | Nicholas Sakelaris
    The Barnett Shale generates $11.8 billion in gross product per year and 107,650 permanent jobs for North Texas, according to economist Ray Perryman.
  • The Utica Shale Is Starting to Look "Extraordinary"

    09/11/2014 1:51:17 PM PDT · by ckilmer · 20 replies
    fool.com ^ | September 11, 2014 | Matt DiLallo |
    The Utica Shale Is Starting to Look "Extraordinary" By Matt DiLallo | More Articles | Save For Later September 11, 2014 | Comments (1) Chesapeake Energy. Few people are as bullish on the future of the Utica shale as the founder and former CEO of Chesapeake Energy (NYSE: CHK) , Aubrey McClendon. He famously once called it the "biggest thing economically to hit Ohio, since maybe the plow." More recently, he called it "extraordinary" and said that "pound for pound, it's the best gas rock in the U.S." What's different this time is McClendon is no longer alone in his...
  • Mother Jones Calls Hillary a Fracker

    09/10/2014 11:38:17 AM PDT · by PJ-Comix · 16 replies
    NewsBusters ^ | September 10, 2014 | P.J. Gladnick
    One of the worst things you can call a liberal, especially one running for president, is a fracker. And that is exactly what Mother Jones called Hillary Clinton when it accused her of strongly supporting fracking in other countries while she was Secretary of State. It will be interesting to see how Hillary will react to the fracking charges since it could make her anathema to the liberal base whose support she needs to win the Democrat nomination for president. It is a long detailed article but here are some highlights from How Hillary Clinton's State Department Sold Fracking to...
  • A Big Summer Story You Missed: Soaring Oil Debt

    08/29/2014 1:58:24 PM PDT · by ckilmer · 12 replies
    resilience.org ^ | 8/29/2014 | by Andrew Nikiforuk,
    A Big Summer Story You Missed: Soaring Oil Debt by Andrew Nikiforuk, originally published by The Tyee | TODAY Over 100 of the world's largest energy companies are running out of cash. Photo of Keystone pipeline in Nebraska by Shannon Ramos. Creative Commons licensed.Some of the summer's biggest news stories took place in the bombed schools of Gaza, the abandoned hospitals of the Democratic Republic of Congo, the wheat fields of eastern Ukraine and the bloody mountains of northern Iraq.But one of the most important made virtually no headlines at all, and seemed to only appear on the website of...
  • Domestic crude begins to cut into Saudi sales volumes

    08/26/2014 12:22:14 PM PDT · by thackney · 30 replies
    Fuel Fix ^ | Robert Grattan | Robert Grattan
    Since about 2009 and until just recently, Saudi Arabia shipped discounted crude to the U.S. in growing volumes even as total U.S. waterborne imports fell. But while Saudi Arabia isnt about to exit the U.S. market, cheaper domestic crude oils are beginning to displace Saudi imports. Daily U.S. crude imports fell from 11.8 million barrels in 2010 to 9.8 million barrels in 2013. Over roughly the same period, U.S. daily oil imports from Saudi Arabia rose from an annual average of just under 1.1 million barrels to about 1.5 million barrels, according to data from the U.S. Energy Information Administration....
  • Pioneer believes that through 2016 it can add more than 600 million BOE in proved reserves

    08/25/2014 4:15:19 PM PDT · by ckilmer · 15 replies
    fool.com ^ | August 25, 2014 | By Matt DiLallo
    3 Reasons Why Pioneer Natural Resources Stock Could Rise By Matt DiLallo | More Articles | Save For Later August 25, 2014 | Comments (0) Pioneer Natural Resources (NYSE: PXD) stock has gone up nearly 600% in just the past five years. That has crushed the market, which is up just over 92% over that same time period. Despite the market-crushing returns, there's still a lot of fuel left in Pioneer Natural Resources' tank. Here are three reasons why the stock could continue to rise.It's sitting on nearly 10 billion barrels of recoverable oil and gas Pioneer Natural Resources believes...
  • Inside North Dakota's latest fracking problem

    08/25/2014 3:41:20 PM PDT · by Lorianne · 26 replies
    CNBC/Reuters ^ | 22 August 2014 | Brad Quick | Morgan Brennan
    From his driveway, Tom Wheeler's view of North Dakota's sprawling grasslands seems endless. Fields of soy, wheat and canola stretch to the horizon in all directions. But as drillers flock to the state to cash in on North Dakota's booming shale play, that horizon has become increasingly marked by natural gas flares. Flaring is the burning of natural gas that can't be processed or sold. All those flares, meanwhile, are adding up. They burn so brightly that NASA astronauts have taken pictures of their glow from space. For some landowners like Wheeler, it's not the noise or light pollution that...
  • Why Is It So Hard for Employers to Fill These Jobs?

    08/24/2014 6:54:55 AM PDT · by 2ndDivisionVet · 178 replies
    The Daily Signal ^ | August 23, 2014 | Stephen Moore
    America has a deficit of workers. Willing workers. Capable workers. Skilled, or at least semi-skilled workers, who can do a job and do it well. There are at least one million jobs that go begging day after day if only employers could find workers to fill them. This probably seems hard-to-believe. After all, how can America have a worker shortage when we have about 18 million Americans who are unemployed or underemployed? When the real unemployment rate is 12 percent? Well certainly the economy isnt creating nearly as many jobs as it should in large part because of regulatory...
  • Ending ban on oil exports would mean cheaper gasoline, energy executive says

    08/22/2014 10:12:52 PM PDT · by ckilmer · 27 replies
    fuelfix.com ^ | August 22, 2014 at 7:51 pm | Vicki Vaughan
    Ending ban on oil exports would mean cheaper gasoline, energy executive says Posted on August 22, 2014 at 7:51 pm by Vicki Vaughan in Crude oil, Eagle Ford, Gasoline, LNG, Markets EmailPrint2 inShare (Jeff Pachoud/AFP/Getty) Should the government end its 40-year-old ban on exporting crude oil, the nation would enjoy benefits ranging from jobs to a decline in gasoline prices, an oil industry economist said in a talk this week in San Antonio.ConocoPhillips senior economist Helen Currie, citing a study by the energy consulting firm IHS Inc., said prices at the pump would fall by about 8 cents a gallon...
  • Must-know: Tighter-than-expected oil supply in the future

    08/21/2014 4:09:40 PM PDT · by ckilmer · 24 replies
    marketrealist ^ | Aug 21, 2014 10:08 am EDT | Russ Koesterich, CFA
    Must-know: Tighter-than-expected oil supply in the future By Russ Koesterich, CFA - Disclosure • BlackRock  • Aug 21, 2014 10:08 am EDT First, here’s a quick look at my expectations for oil supply and demand. Currently, oil prices remain elevated because global demand has continued to climb, despite slower growth in China (FXI), and supply overall has been unexpectedly constrained by both geology and geopolitical unrest. Looking forward, oil supply is likely to remain constrained and oil demand is likely to continue to grow.Oil supply: There’s a good chance that future oil supply may be tighter than expected. Currently, oil prices...
  • Refracking brings 'vintage' oil and gas wells to life

    08/21/2014 9:24:35 AM PDT · by ckilmer · 26 replies
    samachar ^ | Aug 20, 2014,
    Refracking brings 'vintage' oil and gas wells to life Aug 20, 2014, 10.43AM IST (The development highlights…) HOUSTON/WILLISTON, NORTH DAKOTA: A fracking boom isn't enough for U.S. oil and gas producers - they're now starting the re-fracking boom.Wells sunk as little as three years ago are being fracked again, the latest innovation in the technology-driven shale oil revolution. Hydraulic fracturing, which has upended global energy markets by lifting U.S. crude oil output to a 25-year high, has been troubled by quick declines in oil and gas output. The development highlights how producers must constantly invest and tinker, both to...
  • Turn natural gas into gasoline for $1 per gallon

    08/21/2014 8:50:09 AM PDT · by ckilmer · 73 replies
    peakoil.com ^ | August 21, 2014
    Turn natural gas into gasoline for $1 per gallon The clear liquid flowing from a collection of pipes and wires in a Hayward industrial park smells just like gasoline, and for all practical purposes, it is.But it wasn’t made from crude oil. Instead, it came from natural gas, the fuel whose sudden abundance in America is reshaping the country’s energy landscape.Siluria Technologies says it can produce large quantities of gasoline, diesel, jet fuel and chemicals at a lower cost than traditional refineries and chemical plants. At today’s natural gas prices, Siluria’s technology could make gasoline at roughly $1 per gallon, according to...
  • Pickens: Brent crude will be above $100 forever

    08/19/2014 12:54:27 PM PDT · by ckilmer · 8 replies
    cnbc ^ | 4 Hours Ago | Jackie DeAngelis
    Pickens: Brent crude will be above $100 forever Jackie DeAngelis | @JackieDeAngelis 4 Hours AgoCNBC.com 72 SHARES                         39COMMENTSJoin the Discussion Oil and gas entrepreneur T. Boone Pickens thinks international oil prices will stay high indefinitely—over $100 a barrel—despite recent declines in the futures market. Adam Jeffery | CNBC T. Boone Pickens At the Investools 4th Annual Investor Education Conference in Dallas, Pickens reminded investors that OPEC's largest producer, Saudi Arabia, needs oil prices to remain elevated in order to maintain its social spending programs; therefore, the Organization...
  • Oil production in Permian causes pipeline bottleneck in Texas

    08/17/2014 8:05:45 PM PDT · by ckilmer · 13 replies
    rigzone ^ | Tue Aug 12, 2014 12:56pm EDT | Catherine Ngai
    Oil Production In Permian Causes Pipeline Bottleneck In TexasCatherine Ngai|Tuesday, August 12, 2014NEW YORK, Aug 12 (Reuters) - Oil production from the burgeoning Permian Basin of West Texas is outpacing pipelines' ability to transport oil to the Gulf Coast, causing coastal refiners to pay an additional premium to acquire oil.On Monday, that bottleneck caused oil for delivery at Midland, Texas <WTC-WTM> to trade at nearly $20 a barrel less than Gulf Coast benchmark Light Louisiana Sweet <WTC-LLS>, the deepest discount in 17 months. It was little changed on Tuesday.The deep discount is a consequence of the U.S. shale revolution, which...
  • Why This Oil Baron Thinks U.S. Oil Production Could Double

    08/17/2014 3:17:37 PM PDT · by ckilmer · 47 replies
    fool.com ^ | August 17, 2014 | Adam Galas
    Why This Oil Baron Thinks U.S. Oil Production Could Double By Adam Galas | More Articles August 17, 2014 | Comments (0) America's oil production is on a roll. After peaking in November of 1970 at 10 million barrels per day (bpd) and declining for nearly 40 years to a low of just 5 million bpd in 2008, today's oil production has soared 67%. The Energy Information Administration (EIA) is expecting another 13.6% increase by 2016 to 9.5 million bpd, before production tapers off in 2020. This miracle has been made possible by soaring shale oil production out of Texas...
  • Wind Power Requires 700 Times As Much Land As Fracking

    08/15/2014 1:34:20 AM PDT · by right-wing agnostic · 72 replies
    Powerline Blog ^ | August 14, 2014 | John Hinderaker
    One of the weirder facts of contemporary life is that environmentalists generally prefer wind power to fracking. Unless you suffer from an anti-carbon fetish, there is no comparison, as the Telegraph reports: A wind farm requires 700 times more land to produce the same amount of energy as a fracking site, according to analysis by the energy departments recently-departed chief scientific advisor. Prof MacKay said that a shale gas site uses less land and creates the least visual intrusion, compared with a wind farm or solar farm capable of producing the equivalent amount of energy over 25 years. This...
  • Christie vetoes bill aiming to ban fracking waste in N.J.

    08/08/2014 9:39:04 PM PDT · by MikeNJ · 3 replies
    The Star-Ledger ^ | August 08, 2014 | Brent Johnson
    TRENTON For the second time in two years, Gov. Chris Christie has vetoed a bill that would have banned the dumping of fracking waste in New Jersey. Environmentalists and lawmakers from both parties had championed the measure, which would have prohibited companies from treating, discharging, disposing, and storing waste from hydraulic fracturing the controversial practice of pumping water, sand, and chemicals deep underground to harvest natural gas. Though an increase in fracking in recent years has caused U.S. energy production to spike, critics worry that the practice could pollute drinking water supplies. And while fracking doesn't happen in...
  • Pioneer CEO: US oil production could hit 14 million barrels/day

    08/07/2014 3:32:58 PM PDT · by ckilmer · 29 replies
    fuelfix ^ | August 6, 2014 at 6:54 pm | y Jennifer A. Dlouhy
    Pioneer CEO: US oil production could hit 14 million barrels/day Posted on August 6, 2014 at 6:54 pm by Jennifer A. Dlouhy in General Scott Sheffield, chairman and CEO of Pioneer Natural Resources, speaks in Midland, Texas. (Tim Fischer\Reporter-Telegram) DENVER — Technological improvements will allow energy companies to scrape more crude out of the ground and drive U.S. oil production higher, even as producers seek new overseas markets for the fossil fuels, executives said Wednesday.Although government forecasters expect U.S. oil production to peak around 9.5 million barrels per day in 2016, Scott Sheffield, CEO of Irving, Texas-based Pioneer Natural Resources...
  • Shale gas: 'The dotcom bubble of our times'

    08/04/2014 5:51:58 PM PDT · by Lorianne · 33 replies
    Telegraph (UK) ^ | 04 August 2014 | Tim Morgan
    On the one hand, many environmental and conservation groups are bitterly opposed to shale development. Ranged against them are those within and beyond the energy industry who believe that the exploitation of shale gas can prove not only vital but hugely positive for the British economy. Rather oddly, hardly anyone seems to have asked the one question which is surely fundamental: does shale development make economic sense? My conclusion is that it does not. That Britain needs new energy sources is surely beyond dispute. Between 2003 and 2013, domestic production of oil and gas slumped by 62pc and 65pc respectively,...
  • We Could Unlock More Than 267 Billion Barrels of Oil in America

    07/30/2014 6:51:03 PM PDT · by ckilmer · 36 replies
    fool.com ^ | July 30, 2014 | Tyler Crowe
    We Could Unlock More Than 267 Billion Barrels of Oil in America By Tyler Crowe | More Articles | Save For Later July 30, 2014 | Comments (0) Photo credit: WPX Energy If I had told you five or six years ago that America would be producing more oil than ever before and potentially becoming an exporter of crude within a decade, you probably would have had me institutionalized. Yet thanks to the advancements in drilling techniques, we have been able to access one of the most abundant resources we didn't think were possible: shale and tight oil. Today, oil...
  • One Year of Fracking in CO, Creates More Jobs than Obamas Entire Economy Has for Millennials

    07/21/2014 7:25:59 AM PDT · by Kaslin · 27 replies
    Townhall.com ^ | July 21, 2014 | Katie Kieffer
    Fracking in the state of Colorado during the year 2012 created 111,000 jobs whereas Barack Obamas entire economy has only generated 110,000 jobs for Millennials since 2007. What is wrong with our president? Does he suffer from a migraine headache or is he simply refusing to think straight? His administration is spending up to $1,000 a day caring for illegal immigrant children carrying measles, mumps, scabies, lice, chicken pox, strep throat and tuberculosis. Meanwhile, legal American citizens with law degrees are living with their parents and struggling to find jobs that even pay minimum wage. Describing the influx of undocumented...
  • Charts and maps of Americas Amazing Shale Oil Revolution;

    07/19/2014 3:11:31 PM PDT · by ckilmer · 25 replies
    aei-ideas ^ | July 15th, 2014 | Mark J. Perry |
    Charts and maps of America’s Amazing Shale Oil Revolution; and the new ‘Big Three’: Bakken, Eagle Ford and Permian Mark J. Perry | July 15th, 2014   Skip to Responses     Below are four charts and two maps that help tell the story of America’s Amazing Shale Oil Revolution:1. The Big Three. Yesterday, the Department of Energy’s Energy Information Administration (EIA) updated its monthly “Drilling Productivity Report” with new estimates of oil production through August in America’s three, super-giant oil fields, the “Big Three”: the Bakken in North Dakota and Eagle Ford Shale and Permian Basin in Texas. As...
  • A fracking problem for Dems

    07/19/2014 1:26:35 PM PDT · by Cincinatus' Wife · 2 replies
    The Hill ^ | July 19, 2014 | Laura Barron-Lopez
    Republicans love fracking in Colorado — and it could help them flip a critical Senate seat this fall. The onslaught against Democratic Sen. Mark Udall (Colo.) reached a fever pitch this week when Colorado Gov. John Hickenlooper (D) had to cancel a special legislative session meant to keep two hydraulic fracturing initiatives backed by Rep. Jared Polis (D-Colo.) off the November ballot. Udall, who had stayed out of the fray on the two measures, was forced to take a side much to the GOP's glee. Now, with Colorado as one of the top natural gas producing states in the nation,...
  • Texas city weighs ban on new fracking permits (Denton)

    07/16/2014 12:26:37 AM PDT · by Olog-hai · 16 replies
    Associated Press ^ | Jul 16, 2014 2:43 AM EDT | Emily Schmall
    A North Texas community that sits on a large natural gas reserve could become the first city in the state to partially ban hydraulic fracturing, with city leaders in Denton set to vote early Wednesday on a citizen-led petition to outlaw new permits for the drilling method. The process, also called fracking, has led to significant economic benefits but also to fears that the chemicals could spread to water supplies, worsen air quality and even cause small earthquakes. Scores of other cities and some states have considered similar bans, but the proposal in Denton is a litmus test on whether...