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Keyword: fracking

Brevity: Headers | « Text »
  • The Real History Of Fracking

    04/14/2015 7:52:53 AM PDT · by thackney · 6 replies
    Oil Price ^ | 13 April 2015 | John Manfreda
    ...While there are a lot of myths that surround this technology...the biggest one myth, is that, it’s new technology. The History of Fracking can be traced back to 1862. It was during the battle of Fredericksburg VA., where civil war veteran Col. Edward A.L. Roberts saw what could be accomplished when firing explosive artillery into a narrow canal that obstructed the battlefield. This was described as superincumbent fluid tamping. On April 26th, 1865, Edward Roberts received his first patent, for an “Improvement” in exploding torpedoes in artesian wells. In November of 1866, Edward Roberts was awarded patient number 59,936, known...
  • Fracking Link? High Radon Levels Found in 300K Pennsylvania Homes

    04/09/2015 6:21:05 AM PDT · by Citizen Zed · 56 replies
    cnbc ^ | 4-9-2015 | Maggie Fox and Stacey Naggiar
    Levels of radon, an invisible, odorless radioactive gas, have been rising measurably in Pennsylvania since the controversial practice of fracking started there, researchers reported Thursday. The study cannot directly link fracking with the raised radon levels. But whatever is going on, residents need to be aware of the rising levels of the gas and take action to get it out of their homes, the researchers say. Radon is the second-leading cause of lung cancer in the U.S., killing an estimated 21,000 people a year. It occurs naturally in many types of rocks, and many people who have bought or sold...
  • As Quakes Rattle Oklahoma, Fingers Point to Oil and Gas Industry

    04/04/2015 8:28:04 AM PDT · by rktman · 63 replies
    nytimes.com ^ | 4/3/2015 | RICHARD A. OPPEL Jr. and MICHAEL WINES
    Many scientists disagree. They say those quakes, and thousands of others before and since, are mainly the work of humans, caused by wells used to bury vast amounts of wastewater from oil and gas exploration deep in the earth near fault zones. And they warn that continuing to entomb such huge quantities risks more dangerous tremors — if not here, then elsewhere in the state’s sprawling well fields.
  • 9 Earthquakes Rock North Texas In Less Than A Day

    01/07/2015 5:10:48 AM PST · by Tolerance Sucks Rocks · 22 replies
    CBS DFW ^ | January 7, 2015 | CBS DFW/AP
    DALLAS (CBSDFW.COM/AP) – Nine earthquakes, three of them greater than a 3.0 in magnitude, rocked the DFW area on Tuesday afternoon and into early Wednesday, knocking items off of walls, causing cracks to appear in ceilings and generally rattling nerves across the region. “Shook my whole house!” said CBS 11 News viewer Aprille Maganda from her home in the Las Colinas area of Irving.
  • Oklahoma earthquakes: USGS continues to look at increase

    12/26/2014 6:59:57 PM PST · by Star Traveler · 83 replies
    Enid News [Oklahoma] ^ | Friday, December 26, 2014 | Jessica Miller
    There have been more than 500 magnitude 3.0 or greater earthquakes in Oklahoma this year, up significantly from 109 in 2013 and just 35 in 2012, according to U.S. Geological Survey officials. As of Monday, there were 549 of the higher magnitude quakes in 2014, with 19 being magnitude 4.0 or greater. USGS officials focused on magnitude 3.0 or greater quakes because the smaller the magnitude, the more potential there is for missing an event, USGS Geophysicist Robert Williams said. The USGS is looking into the increase in earthquakes, mostly occurring in central and north-central Oklahoma, he said. “Starting probably...
  • Oklahoma residents seek answers on quakes

    06/26/2014 10:29:45 AM PDT · by Olog-hai · 86 replies
    Associated Press ^ | Jun. 26, 2014 8:09 AM EDT | Emily Schmall and Kristi Eaton
    Oklahoma residents whose homes and nerves have been shaken by an upsurge in earthquakes want to know what’s causing the temblors—and what can be done to stop them.Hundreds of people are expected to turn out in Edmond, Oklahoma, on Thursday night for a town hall meeting on the issue. […] Oklahoma recorded nearly 150 between January and the start of May. Though most have been too weak to cause serious damage or endanger lives, they’ve raised suspicions that the shaking might be connected to the oil and gas drilling method known as hydraulic fracturing, especially the wells in which the...
  • The Inconvenient Truth: Greenpeace Tries To Bury Bad News

    04/02/2015 9:10:40 AM PDT · by E. Pluribus Unum · 5 replies
    Breitbart.com ^ | 04/02/2015 | A.B. Sanderson
    A survey commissioned by environmental group Greenpeace has spectacularly backfired as it revealed that more people support fracking than oppose it.
  • New Regs Ignore Fact Fracking Doesn't Taint Well Water

    04/02/2015 9:03:55 AM PDT · by raptor22 · 7 replies
    Investor's Business Daily ^ | April 2, 2015 | IBD EDITORIALS
    Energy: New federal regulations on fracking on public land ignore a study documenting that methane found in well water is unrelated to the location of hydraulically fractured oil and gas wells. When the Obama administration recently released its new regulations on fracking — regulations that it said were needed to keep up with the advance and success of the decades-old technology to meet public safety needs — the Independent Petroleum Association of America and Western Energy Alliance immediately filed suit, saying that the new regs were based on "unsubstantiated concerns" that lacked any scientific basis. "Hydraulic fracturing has been conducted...
  • The Energy Link: Energy Producing States and Social Mobility

    04/01/2015 2:44:15 PM PDT · by ThethoughtsofGreg · 4 replies
    American Legislator ^ | 4-1-15 | John Eick
    A couple years ago, scholars from Harvard and the University of California, Berkeley tried to determine which regions around the country offered higher rates of youth mobility for children born to parents with low-incomes. Interestingly, the greatest areas for mobility are the Midwest and Rocky Mountain regions. Many states in this region – North Dakota, Oklahoma, Texas, Wyoming and Colorado, for example – have long welcomed energy development within their borders and have embraced the recent advances in mining and drilling technologies that led to the mid-2010s nationwide energy boom. When the above map is compared to one showing the...
  • Fact Check.org Rushes to Defend Federal Fracking Regulations, Steps on a Rake

    03/30/2015 1:26:09 PM PDT · by george76 · 8 replies
    Energy in Depth ^ | March 27, 2015 | Katie Brown
    This afternoon, Fact Check.org produced a fact-check that ostensibly criticizes U.S. Senator Jim Inhofe (R-OK) for his contention that there has never been an instance of ground water contamination caused by hydraulic fracturing. Of course, this piece isn’t really about Inhofe at all; but before we get into that, we can’t help but wonder why they are fact-checking Inhofe and not former EPA Administrator Lisa Jackson … or Energy Secretary Ernest Moniz … or Secretary of the Interior Sally Jewell — all of whom have said exactly the same thing. Rather than a “fact-check,” it reads more like an advocacy...
  • Price decline hits oil patch

    03/29/2015 10:19:40 AM PDT · by Perkinsbob54 · 5 replies
    Albuquerque Journal ^ | 3/25/15 | Kevin Robinson-Avila
    At least 2,000 jobs will likely be lost in New Mexico’s oil and gas industry in the coming months because of sharp declines in the price of crude oil, according to estimates by the New Mexico Energy, Minerals and Natural Resources Department.
  • Senate Committee Advances "Denton Fracking Bill"

    03/25/2015 11:18:25 AM PDT · by 2ndDivisionVet · 2 replies
    The Texas Tribune ^ | March 24, 2015 | Jim Malewitz
    A Senate committee gave unanimous approval Tuesday to a bill that would limit local control over oil and gas activities across Texas — a measure being referred to as the "Denton fracking bill." The proposal is among nearly a dozen filed in the aftermath of the North Texas town's vote in November to ban hydraulic fracturing within city limits, and it's among those most likely to pass. The legislation, Senate Bill 1165, now heads to the full Senate, where advocates for municipalities will push for changes to address their biggest concern – that the proposal would jeopardize long-held city police...
  • Ted Cruz and Barack Obama on collision course over fossil fuels

    03/20/2015 5:15:30 PM PDT · by 2ndDivisionVet · 9 replies
    The Houston Examiner ^ | Mark Whittington
    Hydraulic fracking, the technique that extracts oil and natural gas from shale formations, has caused a plunge in energy prices and is a bright spot in an otherwise moribund American economy. Naturally, President Obama wants to clamp down federal regulations on the process, at least on Federal lands, according to Politico. But Breitbart reported on Thursday that Sen. Ted Cruz, R-Texas and Rep. Joe Bridenstine, R-Oklahoma, are proposing a different approach in the form of the American Energy Renaissance Act. The Obama administration’s new anti-fracking measures have two purposes. First, they are mean to cater to the environmental lobby, which...
  • Gasoline price spike in Midwest linked to refinery issues

    03/20/2015 12:16:42 PM PDT · by Citizen Zed · 8 replies
    Consumer Affairs ^ | 3-19-2015 | Mark Huffman
    Gasoline prices in the U.S. are still lower than they have been in years but nonetheless are higher than they were a month ago. And in a handful of Midwestern states, sharply higher. According to the AAA Fuel Gauge survey, the average price of self-serve regular in Indiana jumped 10 cents a gallon in 24 hours, from $2.16 a gallon to $2.26. In Michigan, the average price also jumped a dime a gallon, from $2.25 to $2.35 a gallon. In Illinois, the increase is much less dramatic, rising from $2.35 a gallon to $2.38. But the average price of gasoline...
  • Obama Administration Unveils Federal Fracking Regulations

    03/20/2015 11:55:34 AM PDT · by Jim Robinson · 14 replies
    NYT ^ | March 20, 2015 | By CORAL DAVENPORT
    WASHINGTON — The Obama administration on Friday unveiled the nation’s first major federal regulations on hydraulic fracturing, the controversial technique for oil and gas drilling that has led to a dramatic increase in American energy production but has also raised concerns about health and safety risks. The Interior Department began drafting the rules in Mr. Obama’s first term after breakthroughs in the technology, also known as fracking, led to a surge in the production of oil and gas. The fracking boom has put the United States on track to soon become the world’s largest oil and gas producer. But environmentalists...
  • Fracking: US tightens rules for chemical disclosure

    03/20/2015 10:41:22 AM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Mar 20, 2015 12:51 PM EDT | Matthew Daly and Josh Lederman
    The Obama administration said Friday it is requiring companies that drill for oil and natural gas on federal lands to disclose chemicals used in hydraulic fracturing operations. A rule to take effect in June also updates requirements for well construction and disposal of water and other fluids used in fracking, a drilling method that has prompted an ongoing boom in natural gas production. The rule has been under consideration for more than three years, drawing criticism from the oil and gas industry and environmental groups. The industry fears the regulation could hinder the drilling boom, while some environmental groups worry...
  • Obama to unveil fracking rules (Hurl)

    03/20/2015 8:36:02 AM PDT · by C19fan · 29 replies
    Politico ^ | March 19, 2015 | Elana Schor
    The Obama administration is set to unveil the first major nationwide safety restrictions on fracking, touching off a fresh political confrontation between the president and his critics in Congress and the energy industry. The Interior Department’s rules — expected to be released Friday morning — are the federal government’s most comprehensive foray to date toward regulating the technology at the heart of the U.S. oil and gas boom, addressing worries such as potential dangers to drinking water. They will also offer oil and gas supporters new room to accuse President Barack Obama of seeking to throttle fossil-fuel production, despite his...
  • Feds to impose hydraulic fracturing mandates

    03/20/2015 6:24:47 AM PDT · by shove_it · 14 replies
    FuelFix ^ | 19 Mar 2015 | Jennifer A. Dlouhy
    WASHINGTON — The Obama administration is set to issue the first major federal regulations on hydraulic fracturing on Friday, with new mandates targeting oil and gas wells on public land. The Interior Department rule reflects years of work by regulators seeking to balance environmental interests and economic imperatives in setting baseline standards for the way wells are constructed and stimulated for oil and gas production. But the final version, set to be unveiled Friday by Interior’s Bureau of Land Management, according to stakeholders familiar with the timeline, is unlikely to appease environmentalists who have argued for strong protections or oil...
  • Sen. Cruz and Rep. Bridenstine Introduce American Energy Renaissance Act

    03/18/2015 7:56:23 PM PDT · by 2ndDivisionVet · 8 replies
    Guidry News ^ | March 18, 2015
    U.S. Sen. Ted Cruz, R-Texas, and Rep. Jim Bridenstine, R-OK-1, today introduced the American Energy Renaissance Act to empower the private sector to create good-paying American jobs, spur economic growth and expand opportunity. The companion legislation, introduced in the U.S Senate as S. 791 and in the House of Representatives, will harness our nation’s energy resources and remove federal impediments to energy exploration, development and trade. The legislation will also reduce American dependence on unfriendly nations for our energy needs, and ensure the United States will be able to exert its influence and support its allies around the world. “Today...
  • The E.U. Experiment Has Failed

    03/16/2015 8:23:01 PM PDT · by annalex · 33 replies
    Hoover Institution ^ | March 5, 2015 | Bruce Thornton
    The E.U. Experiment Has Failedby Bruce ThorntonThursday, March 5, 2015 The slow-motion crisis of the European Union is the big story that rarely gets the attention it deserves. Even an event like the recent terrorist attack in France that left 17 dead is often isolated from the larger political, economic, and social problems that have long plagued the project of unifying the countries of Europe in order to harness its collective economic power, and to avoid the bloody internecine strife that stains its history. On the economic front, the E.U.’s dismal economic performance over the last six years was summed...
  • Texas frac sand execs who paid $52k in DNR fines in 2014, are backing Walker PAC

    03/16/2015 1:13:25 PM PDT · by Cincinatus' Wife · 9 replies
    WREX NBC Channel 13 ^ | March 16, 2015 | Greg Neumann, WKOW
    MADISON (WKOW) -- Two executives who run a Texas-based sand mining company - which paid $52,500 in fines to the Wisconsin Department of Natural Resources (DNR) in 2014 - are major backers of Gov. Scott Walker's political action committee Our American Revival (OAR), according to CNN. In an article detailing several big money donors published on Monday, CNN lists Bob Rasmus and James Whipkey - who run Hi-Crush Partners - as two of OAR's major supporters in Texas. In August of 2014, 27 News reported the Wisconsin Department of Justice (DOJ) ordered Hi-Crush Partners to pay $52,500 in July for...
  • Crony Biofuel Politics Wag the Dog

    03/14/2015 9:47:48 AM PDT · by Kaslin · 24 replies
    Townhall.com ^ | March 14, 2015 | Paul Driessen
    Talk about the Norfolk terrier tail wagging the Great Dane. If they are to have any hope of winning their party’s nomination, Republican presidential hopefuls better support ethanol mandates, Hawkeye State politicos told potential candidates at the recent Iowa Agricultural Summit in Des Moines. “Don’t mess with the RFS,” Republican Governor Terry Branstad warned, referring to Renewable Fuel Standards that require refiners to blend increasing amounts of ethanol into gasoline. “It is the Holy Grail, and I will defend it,” said Rep. Steve King, another Iowa Republican. It is vital for reducing carbon dioxide emissions and preventing dangerous climate change...
  • Oil Prices Drop as Production Hums Along Despite a Brimming Supply

    03/14/2015 1:29:35 AM PDT · by Berlin_Freeper · 9 replies
    nytimes.com ^ | MARCH 13, 2015 | STANLEY REED
    Just as the oil market appeared to be stabilizing, the price of crude resumed its descent on Friday. The drop, of about 4 percent, came after a report from the International Energy Agency warning that oil pouring into tank farms in the United States might “soon test storage capacity limits.” The agency, whose reports are closely monitored by oil traders, said that overflowing storage “would inevitably lead to renewed price weakness.” American production of oil continues to increase despite recently announced cutbacks in new drilling by producers.
  • Cramer: The gigantic oil crash that hasn't occurred

    03/13/2015 6:43:03 AM PDT · by thackney · 11 replies
    msn ^ | Jim Cramer
    We keep waiting for the bust, the gigantic rollover of oil companies that just plain collapse under their own weight and the $50 price that you get for West Texas Intermediate. It hasn't happened. We keep waiting for the junk bond market that is riddled with $200 billion in oil and gas paper to be crushed by defaults and restructurings. It hasn't been. In fact, the iShares iBoxx $ High Yield Corporate Bd, the high-yield exchange-traded fund that includes a lot of this suspect paper, is pretty much unchanged for the last three years and has enjoyed a sustained rally...
  • Oil drops 9 percent on week on stronger dollar, glut warning

    03/13/2015 2:36:26 PM PDT · by Berlin_Freeper · 33 replies
    reuters.com ^ | March 13, 2015 | Barani Krishnan
    Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency (IEA) that the oil glut is growing.
  • U.S. unions freeze campaign contributions over trade

    03/11/2015 5:40:47 PM PDT · by mdittmar · 7 replies
    Reuters ^ | Mar 11, 2015 | Krista Hughes
    (Reuters) - The largest U.S. federation of labor unions said on Wednesday it is freezing contributions to federal candidates in next year's elections as it waits to see the outcome of key trade votes. The AFL-CIO said in a statement defeating legislation to streamline the passage of trade deals through Congress was a top priority.
  • Scott Walker Is the Worst Candidate for the Environment

    03/11/2015 12:35:51 PM PDT · by Cincinatus' Wife · 57 replies
    Mother Jones ^ | March 11, 2015 | Tim McDonnell |
    Scott Walker is killing it with Republicans. The Wisconsin governor is one of his party's rising stars—thanks to his ongoing and largely successful war against his state's labor unions, a fight that culminated Monday with the signing of a controversial "right-to-work" bill. Now (for the moment, anyway), he's a leading contender for the 2016 Republican presidential nomination. At the Conservative Political Action Conference a couple weeks ago, he polled a close second to three-time winner Sen. Rand Paul (Ky.), beating the likes of Sen. Ted Cruz (Texas) and former Florida Gov. Jeb Bush by a significant margin. It probably won't...
  • Notice: Free Republic IS and will remain a pro-Life & Liberty Web site

    11/07/2008 3:58:47 PM PST · by Jim Robinson · 655 replies · 19,083+ views
    Statement by the founder of Free Republic ^ | Nov 11, 2008 | Jim Robinson
    Revising and extending my remarks: We're receiving lots of complaints lately from freshly banned liberals, trolls and malcontents. Well, Free Republic has not changed and will not change. We are NOT "fair and balanced." Never will be. We are biased toward God, country, Life and Liberty. Marriage, family and traditional values. Constitution, inalienable rights, private property and limited government. Small government, small spending, small taxes. National security, national sovereignty, strong defense and secure borders. Individual rights, individual responsibility and self-government. Privacy, individual and family security, self-defense and right to keep and bear arms. Rights to freely exercise our religion, freedom...
  • Pennsylvania’s new Dem Governor may tax his state out of the energy boom

    03/09/2015 6:43:18 PM PDT · by SeekAndFind · 26 replies
    Hotair ^ | 03/09/2015 | Jazz Shaw
    Unlike its foolish neighbors to the north in New York, Pennsylvania has been enjoying the fruits of the energy boom for several years now. Natural gas drilling in particular has been paying benefits to the government and the citizens, with thousands of new jobs and all of the secondary growth which is associated with higher employment levels. In November of last year, however, the citizens of the Keystone State decided to oust incumbent Republican Governor Tom Corbett and replace him with Democrat Tom Wolf. Would anyone care to hazard a guess as to what one of the new guy’s...
  • Southern New Yorkers Consider Secession After Cuomo's Permanent Ban On Fracking

    03/09/2015 8:22:29 AM PDT · by SeekAndFind · 19 replies
    Zero Hedge ^ | 03/09/2015 | Thomas Miller via Oilprice.com,
    Submitted by Thomas Miller via Oilprice.com,One could argue America was conceived from intense frustration that ultimately led to separation. Fed up with what they perceived as excessive control by the Crown, colonists to the “New England”, in essence, seceded in 1776, and thus the United States was born.Now, there is a renewed and growing secession conversation brewing in the New England region, this time fueled by a commodity: Natural gas. Infuriated by Governor Andrew Cuomo’s December decision to permanently instill a ban against hydraulic fracture stimulation, or fracking, residents in 15 communities in the Southern Tier of New York...
  • US running out of room to store oil; price collapse next?

    03/03/2015 2:26:05 PM PST · by BeauBo · 31 replies
    AP ^ | 3 March 2015 | JONATHAN FAHEY
    NEW YORK (AP) — The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months. For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country's main trading hub in Cushing, Oklahoma, pushing U.S. supplies to their highest point in at least 80 years, the Energy Department reported last week.
  • First came the frackers, then came the earthquakes

    ~snip~ It wasn't always like this. Between 1978 and 2008, Oklahoma averaged fewer than two significant earthquakes per year. In 2014, that number had spiked to 585, including 19 that measured a powerful 4.0 magnitude or stronger...
  • Upstate towns threatening to secede from New York

    03/02/2015 9:49:11 AM PST · by GrandJediMasterYoda · 30 replies
    NY Post ^ | 3/2/15 | By Leonard Greene
    Upstate towns threatening to secede from New York By Leonard Greene More than a dozen upstate towns are threatening to try to secede from New York and become part of Pennsylvania because of projected economic losses over Gov. Andrew Cuomo’s decision to ban fracking. The town leaders from New York’s Southern Tier region said they would be better off in the Keystone State after Cuomo put the kibosh on natural-gas drilling here. Towns on both sides of the state border have the same geology, but only the businesses in Pennsylvania, where fracking is allowed, have been thriving, said officials from...
  • Low Oil Price May Stifle Deepwater Drilling And Oil Sands But Not Fracking

    03/01/2015 8:53:15 AM PST · by thackney · 27 replies
    Forbes ^ | 3/01/2015
    Saudi Arabia and OPEC may have dropped oil prices to stifle production in the U.S. and other competing nations, but they didn’t drop it enough to stifle the U.S. oil and gas boom from fracking, a senior expert with McKinsey and Company said in Chicago. “If the Saudis think they’re going to put U.S. shale players out of business, they’re probably not, although there will be less drilling,” Joe Quoyeser told about 125 people, mostly graduate students, at Northwestern University’s Kellogg Energy Conference on Wednesday. ”But there are other elements of oil supply that are needed to balance the market...
  • Making the Moral Case for Fossil Fuels

    02/28/2015 5:27:41 AM PST · by bestintxas · 11 replies
    am thinker ^ | 2/28/15 | j levy
    In the anti-fracking film Gasland, producer Josh Fox proclaims that the process of extracting previously inaccessible oil and gas from shale pollutes water supplies, increases the incidence of cancer and leads to higher levels of seismic activity, despite ample contrary evidence. This self-proclaimed environmental watchdog and anti-fracking crusader has led extensive efforts to end or prevent fracking throughout the United States by obfuscating the truth and stopping communities from reaping the benefits of America's shale boom. Josh Fox and others like him are uninterested in looking for improvements in fracking technology and safety. Instead they seek to shut down shale...
  • Exposed: what fracking really does to you, your family, pets and food

    02/25/2015 10:38:18 AM PST · by Citizen Zed · 45 replies
    The Ecologist ^ | 2-25-2015 | Allison Wilson
    The first researchers to systematically document ill health in livestock, pets, and people living near fracking drill sites were Michelle Bamberger and Robert Oswald. Bamberger, a veterinarian, and Oswald, a professor of molecular medicine at Cornell University, used a case study approach-looking at individual households-to search for possible effects (Bamberger and Oswald 2012). Many fracking chemicals are known carcinogens, endocrine disruptors or other classes of toxins (Colborn et al. 2011). Bamberger and Oswald's studies, carried out during the ongoing fracking boom, uncovered serious adverse effects including respiratory, reproductive, and growth-related problems in animals and a spectrum of symptoms in humans...
  • Roman Abramovich Invests $15M In New US Fracking Technology

    02/25/2015 10:12:21 AM PST · by bananaman22 · 6 replies
    Oilprice.com ^ | 24/02/2016 | James Stafford
    Are the Russians coming to Texas riding the tailwinds of fracking? That depends on who you ask, as some believe Russian forces were behind the anti-fracking vote in Denton, while a $15 million investment in new Texas fracking technology by Roman Abramovich perhaps tells another story. When the anti-fracking campaign started to heat up late last year in Denton, Texas—the heart of the shale revolution—conspiracy theories were spread from within the pro-fracking community that the Russians were behind the whole thing. The logic was that the American shale revolution threatened Russia’s market share. Yet just months after a successful vote...
  • New York-Style Fracking Ban Defeated by Colorado Task Force

    02/24/2015 7:16:19 PM PST · by george76 · 12 replies
    Energy in Depth ^ | February 24, 2015 | Simon Lomax
    An activist who was using his position on Colorado’s oil and gas task force to push for a New York-style ban on oil and natural gas development has given up on the fringe proposal for lack of support, according to documents released by state officials overnight. The proposal’s demise is yet another defeat for national anti-fracking groups in Colorado, such as Food and Water Watch and the Sierra Club, which are desperately trying to reboot their failed campaign for an effective statewide oil and gas development ban. It’s also a reminder of how outside of New York, the “ban fracking”...
  • President Obama vetoes Keystone XL pipeline

    02/24/2015 12:38:37 PM PST · by tcrlaf · 113 replies
    Verge ^ | 2-24-2015 | Kwame Opam
    Nearly two weeks after Congress approved the controversial Keystone XL pipeline, President Obama has officially vetoed the bill calling for its construction. The decision follows a clear statement from the White House last month saying the president would not sign the bill into law if Congress, currently controlled by Republican lawmakers, passed it.
  • Is The Oil Price Decline a Sign of Impending Deflation?

    02/22/2015 10:09:49 AM PST · by OwenKellogg · 14 replies
    American Thinker ^ | February 19, 2015 | Frank Ryan, CPA
    Conventional wisdom indicates slowing global economy and increased production are the root causes behind the precipitous drop in oil prices since mid-2014. ~~ snip ~~ Further signs of the impact of deflation, despite trillions of stimulus funds, include: 1.Negative interest rates on short-term securities and debt instruments. 2.The reduction of risk premiums in short and long-term debt financing for governments. 3.Increasing costs of healthcare for virtually every American, which adversely affects disposable income. 4.Declining real wages in the United States due to tax increases at the state and local levels. 5.Declines in labor force participation rates. 6.Lack of wage growth...
  • U.S. refinery strike spreads to one-fifth of national capacity

    02/22/2015 11:34:52 AM PST · by thackney · 12 replies
    Reuters ^ | Feb 22, 2015 | ERWIN SEBA
    The largest U.S. refinery strike in 35 years entered its fourth week as workers at 12 refineries accounting for one-fifth of national production capacity were walking picket lines as of 12 a.m. CST on Sunday, according to union officials. A total of 6,550 members of the United Steelworkers union at 15 plants, including the 12 refineries, are involved in the work stoppage that began on Feb. 1 when talks for a new three-year contract between the USW and lead oil company negotiator Shell Oil Co stopped.... After the latest breakdown between the two sides, Steelworkers leaders targeted Shell, which is...
  • The Saudi project, part two Oil is back over $60 a barrel. Is the market returning to normal?

    02/20/2015 4:33:23 AM PST · by thackney · 61 replies
    The Economist ^ | Feb 21st 2015 | The Economist
    STAGE one of Saudi Arabia’s plan—or perhaps hope—to restructure the oil market is taking longer than expected. By refusing to rein in production while prices fell, the Saudis permitted a big surplus to grow and served notice on higher-cost rivals (Russia, Venezuela, American shale-oil producers) that they would not prop up other people’s profit margins at the expense of their own market share. That signal has been weakened by the growing amount of oil in storage, which is absorbing most of the glut. World oil stocks rose about 265m barrels last year and Société Générale, a French bank, reckons they...
  • The Coming Oil Crash: Why Oil Prices Will Drop

    12/31/2007 8:57:38 AM PST · by Clemenza · 139 replies · 343+ views
    Portfolio | January 2008 | John Cassidy
    http://www.portfolio.com/views/columns/economics/2007/12/17/Why-Oil-Prices-Will-Drop
  • Get Ready for $10 Oil

    02/17/2015 10:29:59 AM PST · by Duke C. · 65 replies
    Bloomberg | A. Gary Shilling
    At about $50 a barrel, crude oil prices are down by more than half from their June 2014 peak of $107. They may fall more, perhaps even as low as $10 to $20. Here’s why.
  • Gary Shilling Says Oil Is Going To $10

    02/21/2015 10:06:40 PM PST · by blam · 31 replies
    BI ^ | 2-22-2015 | Shane Ferro
    Shane Ferro February. 17, 2015Gary Shilling thinks the price of oil is going way lower. The economist and financial analyst wrote an op-ed for Bloomberg View discussing the various reasons why he thinks the price could get down to $10-20 per barrel. Basically, supply keeps increasing while demand is shrinking. Here's an excerpt that pretty clearly lays it out: U.S. crude oil production is forecast to rise by 300,000 barrels a day during the next year from 9.1 million now. Sure, the drilling rig count is falling, but it’s the inefficient rigs that are being idled, not the horizontal rigs...
  • Fossil Fuels Keeping More Than 200 Million Americans From Freezing Today

    02/22/2015 9:19:44 AM PST · by Vince Ferrer · 18 replies
    Real Science ^ | 2/22/2015 | Steven Goddard
    The US is experiencing an historic deep-freeze with much of the country more than 20 degrees below normal. Most of the people in America would be freezing right now without fossil fuels. The government responds by lying about the temperature, trying to make energy prices skyrocket, and doing everything they can to cut off the supply of fossil fuels. Obama: My Plan Makes electricity Rates Skyrocket
  • EPA Climate Regulations Expected to Hit Manufacturing Sector Especially Hard

    02/18/2015 1:40:43 PM PST · by ThethoughtsofGreg · 19 replies
    American Legislator ^ | 2-18-15 | John Eick
    A short paper recently released by the Heritage Foundation takes a look at the expected manufacturing job losses as a result of President Obama’s Climate Action Plan. Predictably, they are significant. Using a social cost of carbon (SCC) equal to $37 per ton, the Heritage Energy Model (HEM) was used to determine the economic impact such climate regulations would have on the U.S. economy down to the state and, most interestingly, even to a congressional district level. Perhaps unsurprisingly, the Rust Belt, home to what remains of the country’s once dominant industrial sector, can expect to see the largest losses...
  • Natural Gas: Saving More and Emitting Less

    02/18/2015 9:03:23 AM PST · by ThethoughtsofGreg · 6 replies
    American Legislator ^ | 2-14-15 | John Eick
    Earlier this week, the American Gas Association released its 2015 Playbook. The report shows that natural gas continues to deliver safe, affordable, and reliable energy, while also providing environmental and energy efficiency benefits. Customers are deriving financial savings from using natural gas. For instance, households that use natural gas for space heating, water heating, cooking and clothes drying save an average of $693 per year compared to customers who use electricity to power these activities. Over the past five years, low natural gas prices have provided a total savings of almost $65 billion to natural gas customers, allowing this money...
  • Please Practice Safe Fracking ("expert" says fracking causes increase in STDs)

    02/16/2015 4:04:04 PM PST · by Tolerance Sucks Rocks · 10 replies
    Youtube ^ | February 12, 2015 | Maryland House Republican Caucus
  • Study: Oklahoma's daily small quakes raise risk of big ones (Borenstein alert)

    02/15/2015 3:33:52 AM PST · by Crazieman · 32 replies
    Associated Presstitutes ^ | 2/14/2014 | Seth Borenstein
    SAN JOSE, California (AP) -- Small earthquakes shaking Oklahoma and southern Kansas daily and linked to energy drilling are dramatically increasing the chance of bigger and dangerous quakes, federal research indicates. This once stable region is now just as likely to see serious damaging and potentially harmful earthquakes as the highest risk places east of the Rockies such as New Madrid, Missouri, and Charleston, South Carolina, which had major quakes in the past two centuries. Still it's a low risk, about a 1 in 2,500 years' chance of happening, according to geophysicist William Ellsworth of the U.S. Geological Survey.