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Keyword: fracking

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  • Fracking Billionaires Give Record-Setting Donation to Ted Cruz

    07/28/2015 12:45:23 PM PDT · by SeekAndFind · 22 replies
    AllGov ^ | 07/28/2015 | Noel Brinkerhoff, Danny Biederman
    Two Christian conservatives who became billionaires from fracking have given a record political contribution to Republican presidential hopeful Ted Cruz. Farris and Dan Wilks, who made their fortunes in the West Texas fracking boom, have reportedly contributed $15 million to Keep the Promise, a super PAC supporting Cruz. The $15 million is the largest contribution so far in the 2016 race, and represents nearly half of the $38 million raised by Keep the Promise. The Wilks brothers have largely maintained a low profile until now. But their public remarks have caught the attention of liberals. Farris Wilks, 63, told CNN...
  • Billionaire Brothers Donate $15 Million to Ted Cruz Super PAC to Further Their Religious Agenda

    07/26/2015 3:02:38 PM PDT · by 2ndDivisionVet · 46 replies
    Patheos' The Friendly Atheist Blog ^ | July 26, 2015 | Hemant Mehta, editor
    Make no mistake about it: Religion and politics are closely intertwined. And in the Republican party, they’re practically synonyms. Yesterday, we learned that billionaire brothers Farris and Dan Wilks were donating $15 million to Ted Cruz‘s Presidential campaign (via a super PAC), making it the largest political contribution for any candidate this cycle and among the largest ever. And they’re doing it, in large part, because it’s the best way to further their religious agenda: “Our country was founded on the idea that our rights come from the Creator, not the government. I’m afraid we’re losing that,” Farris Wilks, a...
  • Ted Cruz Sells His Soul to to Frackers for $15 Million

    07/25/2015 7:59:06 PM PDT · by 2ndDivisionVet · 90 replies
    Politicus USA - Real liberal politics ^ | July 25, 2015 | Hrafnkell Haraldsson
    While Bernie Sanders and Hillary Clinton are bringing in a sizeable number of donations of under $100, Republicans have been going for the big money, like the huge score Ted Cruz just made from a pair of Texas frackers. Even so, on July 16, Newsmax made a big deal of Hillary receiving donations from wealthy individuals, with the headline, “Hillary Clinton’s Donations From Hedge Fund Titans Exceed Republicans.” Those Democrats are such elitists! You don’t want to be drinking milk when you read these things, at least not without a bib. And here the Texas Messiah, Ted Cruz, just hauled...
  • Oil and gas officials scramble after feds review species protections

    07/24/2015 4:01:42 PM PDT · by george76 · 12 replies
    Watchdog ^ | July 3, 2015 | Rob Nikolewski
    Oil and gas producers in one of the most active drilling areas in the country have had to make concessions to not disturb species such as the lesser prairie chicken and the dunes sagebrush lizard. Now industry officials in parts of Texas, Oklahoma and New Mexico may have four other species to contend with: make way for the Cascade Caverns salamander, the Arizona toad, the alligator snapping turtle and the Rio Grande cooter. The U.S. Fish and Wildlife Service announced Tuesday it is giving what it calls “status reviews” to the four amphibians and reptiles found in the Southwest as...
  • OPEC, Get Ready For The Second U.S. Oil Boom

    07/14/2015 9:46:17 AM PDT · by bananaman22 · 15 replies
    Oilprice.com ^ | 14-07-2015 | shale 2.0
    What OPEC countries fear most is a follow-up technological revolution that will lead to a second oil boom in the U.S., and that fear is now being realized. A technological revolution spurred the U.S. oil boom that resulted in the greatest increase in domestic oil production in a century, and while that has stuttered in the face of a major oil price slump and an OPEC campaign to maintain a grip on market share, the American response could be another technological revolution that demonstrates that the first one was merely an impressive embryonic experiment. It’s not only about shale now—it’s...
  • OPEC, Get Ready For The Second U.S. Oil Boom

    07/14/2015 5:10:52 AM PDT · by ckilmer · 13 replies
    oilprice.com ^ | Mon, 13 July 2015 21:59 | | stafford
    What OPEC countries fear most is a follow-up technological revolution that will lead to a second oil boom in the U.S., and that fear is now being realized. A technological revolution spurred the U.S. oil boom that resulted in the greatest increase in domestic oil production in a century, and while that has stuttered in the face of a major oil price slump and an OPEC campaign to maintain a grip on market share, the American response could be another technological revolution that demonstrates that the first one was merely an impressive embryonic experiment.
  • CALIFORNIA FACES THE SKYROCKETING GASOLINE PRICES BROWN FEARS

    07/13/2015 11:14:03 AM PDT · by lowbridge · 35 replies
    breitbart ^ | july 13, 2015 | chriss w. street
    GasBuddy started an emergencypetition on Friday calling on Governor Brown to obtain an EPA waiver to prevent gasoline price increases of at least 50-cents a gallon in Southern California and 30-cents in Northern California. As Breitbart News warned in December in “Brown Needs Oil Trains to Prevent Skyrocketing Energy Prices,: decades of anti-oil-production-policies in the Democrat-controlled state had made residents highly reliant on inconsistent supplies of oil from Iraq and oil trains from North Dakota. With supplies now breaking down, Californians are sure to be angry paying $5 a gallon for gasoline. GasBuddy noted that an “extraordinary convergence of fuel supply problems...
  • Natural gas surpasses coal as biggest US electricity source

    07/13/2015 10:49:56 AM PDT · by Olog-hai · 12 replies
    Associated Press ^ | Jul 13, 2015 12:56 PM EDT | Tom Murphy
    Natural gas overtook coal as the top source of U.S. electric power generation for the first time ever earlier this spring, a milestone that has been in the making for years as the price of gas slides and new regulations make coal more risky for power generators. About 31 percent of electric power generation in April came from natural gas, and 30 percent from coal, according to a recently released report from the research company SNL Energy, which used data from the U.S. Energy Department. Nuclear power came in third at 20 percent. A drilling boom that started in 2008...
  • Colorado’s Future…Fracking & the Psychology and Science of Climate Change—July 13th

    07/09/2015 5:16:46 PM PDT · by Trteamer · 7 replies
    Trteamer | 7-9-15 | Trteamer
    Brittany Bloodhart- PhD in Social Psychology and Women’s Studies, currently a post-doctoral fellow and adjunct faculty at Colorado State University. Brittany will talk about ways to encourage pro-environmental behavior and policy support by psychologically connecting individuals with the impacts of climate change.
  • The Myths About Fracking Are Many And Damaging

    07/08/2015 4:38:49 AM PDT · by SeekAndFind · 5 replies
    IBD ^ | 07/08/2015 | MERRILL MATTHEWS
    Much of the reporting on fracking is a confused mess, which must leave many people wondering exactly what's going on. One day there's a news story or newly released study implying that fracking is causing earthquakes or groundwater contamination; the next day there's a different study or story asserting there is no clear connection. No wonder last March the Gallup Polling Co. found that an equal number, 40%, supported and opposed fracking. One problem is that people, and especially reporters, frequently confuse fracking with wastewater injection. Hydraulic fracturing, or "fracking," has been around for decades. It's a process whereby water,...
  • Chris Faulkner: A Real Look At The Oil Industry’s Self-Proclaimed Frack Master

    07/06/2015 9:18:34 AM PDT · by bananaman22 · 5 replies
    Texas Observer ^ | 06-07-2015 | Steve
    CNN International host Richard Quest strides across the studio and extends his hand to his round-faced, goateed guest. “Breitling Energy is a U.S. company that goes into fracking in a big way,” Quest says. “We have the man who’s called the ‘fracking master’ because you do so much of it.” And so continues Chris Faulkner’s seemingly endless series of TV interviews. Faulkner is CEO of Breitling Energy Corp., and during the last three years he has become the media’s go-to voice from Texas in favor of hydraulic fracturing, also known as fracking. His 45-minute Powering America show and one-minute “Oil...
  • U.S. Manufacturing costs are almost as low as China’s, and that’s a very big deal

    06/29/2015 8:41:40 AM PDT · by thackney · 47 replies
    Fortune ^ | JUNE 26, 2015 | Brian Dumaine
    “Made in the U.S.A” is becoming more affordable. The reason? Fracking. You don’t need to a Nobel Prize in economics to know that the fracking revolution has been good for the U.S. What’s not so well known is just how competitive cheap oil and gas has made American manufacturing. BCG, the Boston consultancy, estimates the average cost to manufacture goods in the U.S. is now only 5% higher than in China and is actually 10% to 20% lower than in major European economies. Even more striking: BCG projects that by 2018 it will be 2% to 3% cheaper to make...
  • Court: Oklahoma woman can sue fracking company for causing earthquakes

    07/01/2015 7:28:33 PM PDT · by SeekAndFind · 15 replies
    Hotair ^ | 07/01/2015 | Jazz Shaw
    If you read the title there’s not much more of an intro to do, really. Let’s just get to the case. Oklahoma’s Supreme Court said New Dominion LLC can be sued for damage caused by an earthquake that a woman blames on disposal wells tied to fracking, in what may be the first such case to head to a jury trial.Sandra Ladra sued New Dominion and Spess Oil Co. for injuries suffered to her knees and legs in November 2011, when a 5.0 magnitude earthquake struck near her home in central Oklahoma. She said the tremor caused the rock...
  • Oklahoma court rules earthquake victim can sue oil companies

    07/01/2015 7:40:36 AM PDT · by markomalley · 13 replies
    Reuters ^ | 6-30-15 | Yeganeh Torbati
    An Oklahoma woman who was injured when an earthquake rocked her home in 2011 can sue oil companies for damages, the state's highest court ruled on Tuesday, opening the door to other potential lawsuits against the state's energy companies. Oklahoma has experienced a dramatic spike in earthquakes in the last five years, and researchers have blamed the oil and gas industry's practice of injecting massive volumes of saltwater left over from oil and gas drilling. The state saw nearly 600 quakes of magnitude 3.0 or greater in 2014, compared to just one or two per year prior to 2009, according...
  • Chuck Schumer: Carbon tax has a chance if Clinton wins

    06/24/2015 6:28:08 AM PDT · by Oldeconomybuyer · 13 replies
    Politico ^ | June 23, 2015 | By ELANA SCHOR
    Sen. Chuck Schumer outlined a path Tuesday for Hillary Clinton to enact a carbon tax if the Democrats prevail in the 2016 elections. Schumer said that a Clinton presidency and the return of his party to the Senate majority in 2017 could pave the way for lawmakers to enact a carbon tax to help fund the government. The mere suggestion of a new fee on the emissions blamed for climate change, however, could become a political headache for Clinton and other Democrats, and it’s routinely dismissed by Republicans. Schumer also vowed that Democrats would successfully defend President Barack Obama’s landmark...
  • New York bans fracking after years of "exhaustive research"

    06/29/2015 1:28:12 PM PDT · by Citizen Zed · 18 replies
    Oneida Dispatch ^ | 6-29-2015 | AP
    <p>New York has formalized its ban on high-volume hydraulic fracturing for natural gas after a seven-year environmental and health review.</p> <p>Department of Environmental Conservation Commissioner Joe Martens announced the decision Monday, saying a ban was the "only reasonable alternative" after "years of exhaustive research and examination of the science and facts."</p>
  • U.S. Manufacturing costs are almost as low as China’s, and that’s a very big deal

    06/27/2015 4:17:30 AM PDT · by 2ndDivisionVet · 31 replies
    Fortune ^ | June 26, 2015 | Brian Dumaine
    “Made in the U.S.A” is becoming more affordable. The reason? Fracking.You don’t need to a Nobel Prize in economics to know that the fracking revolution has been good for the U.S. What’s not so well known is just how competitive cheap oil and gas has made American manufacturing. BCG, the Boston consultancy, estimates the average cost to manufacture goods in the U.S. is now only 5% higher than in China and is actually 10% to 20% lower than in major European economies. Even more striking: BCG projects that by 2018 it will be 2% to 3% cheaper to make stuff...
  • Wyoming federal judge blocks federal fracking rules

    06/24/2015 10:03:53 PM PDT · by 2ndDivisionVet · 1 replies
    Hot Air ^ | June 24, 2015 | Jazz Shaw
    The new Bureau of Land Management rules regarding fracking on federal lands were just about to go into effect this month, pleasing environmental activists no end since it would make the process essentially untenable. But several states, along with energy company interests, had filed suit to protest the excessively heavy handed rules and a federal judge has now shut down the implementation of these restrictions pending further review. A federal judge in Wyoming has temporarily blocked implementation of the Obama administrationÂ’s regulations for hydraulic fracturing on federal land, hours before they were set to take effect. The late Tuesday decision...
  • Judge postpones Obama administration’s fracking rule from taking effect

    06/24/2015 5:32:16 AM PDT · by bestintxas · 4 replies
    wash times ^ | 6/23/15 | v richardson
    A federal judge agreed Tuesday to postpone the Obama administration’s tough new hydraulic fracturing restrictions just hours before they were scheduled to take effect. U.S. District Court Judge Scott Skavdahl in Casper, Wyoming, gave both sides another week to submit arguments and citations before making a final decision on the request for a stay, which is expected July 22. Four Western states — Colorado, North Dakota, Utah and Wyoming — along with two oil and gas industry groups had asked the court to delay the Bureau of Land Management rule slated to kick in Wednesday until their lawsuits could be...
  • ‘End Austerity Now,’ demand Britons

    06/20/2015 4:35:16 PM PDT · by RightGeek · 24 replies
    The Hindu ^ | 6/21/2015 | Parvathi Menon
    End austerity: it’s cheating us all; Jobs not Trident; No cuts; Defy Tory rule; Cut war not welfare; Stop fracking; a Living Wage for mothers; and, The Pope gets it, why can’t you? With the slogans emblazoned on banners, posters and flags, anti-austerity marchers shouted slogans, sang, and beat drums, as they walked through London in what is being called the biggest protest march that the city has seen. The ‘End Austerity Now’ demonstration saw participation by an estimated crowd of between 70,000 and 250,000, all coming together to protest against cuts imposed due to austerity, the threats to the...
  • Study: Mega injections of wastewater triggers more quakes (anti-fracking barf alert)

    06/18/2015 4:43:15 PM PDT · by Olog-hai · 14 replies
    Associated Press ^ | Jun 18, 2015 7:27 PM EDT | Seth Borenstein
    The more oil and gas companies pump their saltwater waste into the ground, and the faster they do it, the more they have triggered earthquakes in the central United States, a massive new study found. An unprecedented recent jump in quakes in America’s heartland can be traced to the stepped up rate that drilling wastewater is injected deep below the surface, according to a study in Thursday’s journal Science that looked at 187,570 injection wells over four decades. It’s not so much the average-sized injection wells, but the supercharged ones that are causing the ground to shake. Wells that pumped...
  • Hewitt: 5 bold reforms Hillary should champion to devastate the GOP and ensure a long ‘Clinton Era’

    06/16/2015 7:04:24 AM PDT · by fredericbastiat1 · 42 replies
    TheBlaze Books ^ | 2015-06-16 | Benjamin Weingarten
    1. A constitutional amendment abolishing the Electoral College and substituting in its place a direct election of the president by popular vote. 2. A constitutional amendment abolishing the two term limit on the presidency. 3. A constitutional amendment mandating that 5% of GDP be spent on the Pentagon’s budget, with safeguards that the money actually be spent on soldiers, sailors, airmen and Marines and the equipment they need, and not on absurd “tack-ons” like “green energy” production for military bases. Rebuild the military and detach it from the GOP, and do so before a coup becomes a reality in the...
  • California on Cusp of Fracking Boom Bigger than North Dakota

    06/17/2015 8:04:01 AM PDT · by rktman · 50 replies
    breitbart.com ^ | 6/17/2015 | Chriss W. Street
    California may be on the cusp of an oil fracking boom along its 1,750-square-mile Monterrey Shale Formation, which is potentially the richest shale oil reserve in the United States. Earthquakes have disturbed the layers of shale rock that run under most of the western state, making fracking more challenging than in a region like North Dakota. But when the next cyclical El Nińo brings the huge amounts of water necessary for fracking, California could experience an economic boom similar to North Dakota’s oil rush.
  • Frack Ban Repealed......

    06/17/2015 7:13:03 AM PDT · by ALASKA · 6 replies
    Denton Record-Chronicle ^ | June 16, 2016 | Peggy Heinkel-Wolfe
    Denton’s 7-month-old ban on hydraulic fracturing fell early Wednesday morning in what city leaders dubbed a “strategic repeal.” Several City Council members said repealing the ban could help neutralize a pair of lawsuits against the city that were on the move again. Council member Greg Johnson called the option the least of three bad choices. Only Council member Keely Briggs voted against the ordinance to repeal, which passed 6-1. The Texas General Land Office and the Texas Oil and Gas Association amended their lawsuits against Denton's ban late Monday. They both cited House Bill 40 as the basis not only...
  • America's Next Economic Boom Could Be Lying Underground

    06/11/2015 7:39:13 AM PDT · by Bluewater2015 · 33 replies
    NPR (don't barf, this is pretty good!) ^ | June 11, 2015 | Chris Arnold
    There's a serious problem in the American economy right now: Big corporations are doing well, but real household income for average Americans has been falling over the past decade — down 9 percent, according to census data. "That's not good for America," says Harvard economist Michael Porter. "That's not good for America's standard of living. That's not good for our vitality as a nation." That's why Porter's excited about the deep reserves of natural gas and oil that have been made accessible by hydraulic fracturing technology, or fracking — a boon he examines in detail in a new report. "It...
  • Gasland Producer Kicked Off Fox For Calling Host A ‘Liar’ [Stuart Varney kicks butt]

    06/09/2015 1:44:00 AM PDT · by Cincinatus' Wife · 7 replies
    The DC - The Daily Caller ^ | June 8, 2015 | Michael Bastasch
    Josh Fox, creator of the “Gasland” films, has been playing up on Twitter that he got kicked off the Fox Business show Varney & Co. after a heated debate with the show’s host on the EPA’s hydraulic fracturing report. Fox and his supporters claimed he was kicked off the Fox show for schooling its host Stuart Varney in a fracking debate. Fox claims Varney kicked him off the show after being “confronted with the truth on fracking.” But Fox’s claim of being kicked off Fox Business for beating them down with facts is very far from the truth. The Daily...
  • Concerns Over Earthquakes Spread To Texas

    06/08/2015 11:37:23 AM PDT · by bananaman22 · 17 replies
    Oilprice.com ^ | 08-06-2015 | quAKE3
    The connection between wastewater injection wells and an alarming increase in the frequency of earthquakes is getting a lot more scrutiny these days. First was Oklahoma, which has suddenly become the earthquake capital of the United States. The number of earthquakes with a magnitude of 3.0 or higher more than quadrupled between 2013 and 2014 in the state. The culprit? Scientists are becoming more confident that the injection of wastewater into disposal wells causes fault lines to “slip,” contributing to the likelihood of an earthquake. The issue has become highly contentious in Oklahoma. But now the controversy has spread to...
  • Putin and Buffett’s War on U.S. Pipelines

    06/06/2015 6:52:57 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | June 6, 2015 | Paul Driessen
    Abundant, reliable, affordable oil and natural gas empower people. They support job creation, mobility, modern agriculture, homes and hospitals, computers and communications, lights and refrigerators, life and study after sundown, indoor plumbing, safe drinking water, less disease and longer lives. Hydrocarbons make plastics, pharmaceuticals and synthetic clothing. They create fertilizers and pesticides, to improve crop yields, reduce food prices and improve nutrition. But Sierra Club, 350.org and other radicals want to keep America’s oil and natural gas bounties in the ground. They block leasing, drilling and fracking. They block pipelines that transport oil and gas to refineries, power plants, factories...
  • EPA Fracking Study: Drilling Wins

    06/05/2015 6:32:57 PM PDT · by 2ndDivisionVet · 7 replies
    Forbes ^ | June 5, 2015 | RobertBradley, Jr.
    Finally, the Environmental Protection Agency has admitted what the oil and natural gas industry has been saying for more than 60 years: “Hydraulic fracturing activities have not led to widespread, systemic impacts to drinking water sources.” EPA’s five-year-long study, requested by Congress, examined more than 950 pieces of information, including published papers and technical reports. While finding “potential vulnerabilities, some of which are not unique to hydraulic fracturing,” the report basically pronounces fracking safe. This conclusion should not be a surprise. In 2011, then-EPA Administrator Lisa Jackson told a congressional panel there has been no evidence linking fracking operations to...
  • EPA: Uh, Fracking Isn't Bad Afterall

    06/05/2015 1:13:17 PM PDT · by Kaslin · 9 replies
    Townhall.com ^ | June 5, 2015 | Katie Pavlich
    After years of unfounded hysteria from so-called environmentalists, the media and Hollywood that fracking causes drinking water contamination, the Environmental Protection Agency just issued a major blow to anti-fracking activists. A new report from the EPA, based on a study sanctioned by Congress, shows drinking water contamination only results if fracking wells aren't built or maintained properly, which is a rarity. "We did not find evidence that these mechanisms have led to widespread, systemic impacts on drinking water resources in the United States. Of the potential mechanisms identified in this report, we found specific instances where one or more of these mechanisms...
  • EPA: Fracking's no big threat to water

    06/05/2015 6:41:28 AM PDT · by McGruff · 13 replies
    POLITICO ^ | 6/4/15 | ELANA SCHOR
    The Environmental Protection Agency’s long-awaited report on fracking dismayed liberal green groups Thursday while pleasing the oil and gas industry — the latest episode in both sides’ fraught relationship with President Barack Obama. The study, more than four years in the making, said the EPA has found no signs of “widespread, systemic” drinking water pollution from hydraulic fracturing. That conclusion dramatically runs afoul of one of the great green crusades of the past half-decade, which has portrayed the oil- and gas-extraction technique as a creator of fouled drinking water wells and flame-shooting faucets. The report also jibes with Obama’s global...
  • EPA: Remember all that horrible stuff we said about fracking? Yeah… never mind

    06/05/2015 6:53:20 AM PDT · by SeekAndFind · 15 replies
    Hotair ^ | 06/05/2015 | Jazz Shaw
    The Environmental Protection Agency has finished a draft copy of a long awaited study on fracking and its impact (or lack thereof) on drinking water. The folks in the green energy community who have been pushing for bans on the practice for years now are up in arms already because the results were precisely what they didn’t want to hear. The alarmist have been pedaling bogus science for quite a while now. The Environmental Protection Agency’s long-awaited report on fracking dismayed liberal green groups Thursday while pleasing the oil and gas industry — the latest episode in both sides’...
  • EPA Buries Its Own Good News About Fracking

    06/05/2015 4:05:37 AM PDT · by IBD editorial writer · 9 replies
    Investor's Business Daily ^ | 06/04/2015 | Thomas McArdle
    Want to see a perfect example of spin as a Washington art form? Read the results of the federal government's most in-depth investigation ever of fracking.
  • Jerry Brown turns on liberal environmentalists, rejects California fracking ban

    06/03/2015 5:02:38 AM PDT · by bestintxas · 40 replies
    wash times ^ | 6/3/15 | v richardson
    An unusual schism has opened up on California’s politically dominant left flank, where Gov. Jerry Brown, a longtime favorite of the state’s environmentalists, has refused to give in to the climate change movement’s demand for a statewide ban on hydraulic fracturing. His stance comes despite the growing clamor in the aftermath of fellow Democratic Gov. Andrew Cuomo’s decision in December to allow a similar statewide ban of the revolutionary oil and gas drilling technique in New York. Hollywood stars and environmental activists badly want California to be next. The irony, of course, is that there may be no greener governor...
  • 'No shale gas revolution in Europe'

    06/03/2015 1:58:14 PM PDT · by 2ndDivisionVet · 5 replies
    The British Broadcasting Corporation ^ | June 3, 2015 | Richard Anderson, business reporter
    There will be no US-style shale gas revolution in Europe, the president of the International Gas Union (IGU) has told the BBC."You cannot duplicate [the US experience] in Europe," said Jerome Ferrier. "Politicians are hesitating to accept shale development." Abundant shale gas in the US has helped domestic energy prices fall. As a result some European governments, not least the UK, are keen to develop their own shale resources. Mr Ferrier's comments come a day after a number of major energy firms called for a working price of carbon. Carbon pricing The IGU president, talking to the BBC at the...
  • An immoral food-to-fuel policy(starving people or fueling cars)

    06/03/2015 5:15:22 AM PDT · by bestintxas · 29 replies
    wash times ^ | 6/2/15 | s burnett
    In the early 2000s, ethanol was touted as the solution to a variety of ills plaguing our nation. As is currently the case, those who worshipped at the altar of ethanol placed their faith in a false idol. Early in the new millennium, oil prices began to rise and natural gas prices shot up. Doomsayers lacking an understanding of history and economics popped up, as they always do, to proclaim the end of cheap oil was nigh. “Peak oil” pundits ruled the airwaves and editorial pages. The United States had recently suffered the horrific terrorist attacks of Sept. 11, 2001,...
  • Easy Access to Money Keeps U.S. Oil Pumping

    06/02/2015 6:06:43 PM PDT · by Lorianne · 2 replies
    Nasdaq ^ | 31 May 2015
    Wall Street's generous supply of funds to U.S. oil drillers helped create the American energy boom. Now that same access to easy money is keeping them going, despite oil prices that are languishing around $60 a barrel. The flow of money into oil has allowed U.S. companies to avoid liquidity problems and kept American crude production from falling sharply. Even though more than half of the rigs that were drilling new wells in September have been banished to storage yards, in mid-May nearly 9.6 million barrels of oil a day were pumped across the country, the highest level since 1970,...
  • The Shale Boom Shifts Into Higher Gear

    06/01/2015 8:58:38 AM PDT · by Hojczyk · 7 replies
    The Wall Street Journal ^ | May 31,2015 | DONALD L. LUSKIN And MICHAEL WARREN
    The nimblest and smartest competitors have worked relentlessly to increase their productivity. Leading-edge operators report that they can produce more profitably today at a price of $65 a barrel than they could at $95 a barrel three years ago. Where can they be profitable three years hence—$40 a barrel? $30? The oil patch today is afire with the same technological imperative and competitive mission that has powered the U.S. electronics revolution—think Moore’s Law—to dash headlong down the learning curve, crushing costs and prices and making up for it in volume. Today’s surge in production is coming predominantly from wells that...
  • Pennsylvania vs New York: A tale of two counties… and fracking

    06/01/2015 8:55:07 AM PDT · by SeekAndFind · 12 replies
    Hotair ^ | 05/30/2015 | Jazz Shaw
    The Daily Signal recently paid a visit to my neck of the woods and conducted some interviews on both sides of the New York – Pennsylvania border in the rural, upstate region. It’s an area which sits atop the Marcellus shale formation and is the source of one of the richest deposits of natural gas on the continent, if not in the world. But that invisible border between the states has revealed a stark contrast between the lives of residents on each side. As their report found, one state is thriving while the other is dying a slow death,...
  • Technology for a Saudi fracking boom moves closer to reality

    05/27/2015 4:07:06 AM PDT · by thackney · 20 replies
    CNBC ^ | 5/26/2015 | Andrew Zaleski
    ...carbonite-formations, and no region has as much oil and gas trapped in carbonate-formations as the Middle East. Carbonates are areas of sedimentary rock-Limestone, for instance—that contain many natural cracks inside them. Carbonite-formations are estimated to hold 60 percent of the world's oil and 40 percent of the world's gas reserves. In the Middle East, roughly 70 percent of oil and 90 percent of gas reserves are trapped in the carbonite, according to oil services giant Schlumberger.... ...Saudia Arabia is fifth in the world when it comes to recoverable gas reserves. Much of that is in carbonate-formation. What Saudia Arabia doesn't...
  • Fracking is Pitting OPEC Members Against Each Other. It Couldn't Happen Nicer Bunch Cartel Members

    05/30/2013 5:26:05 AM PDT · by thackney · 20 replies
    The Daily Beast ^ | May 29, 2013 | Megan McArdle
    OPEC meets in Vienna on Friday, a meeting that will, according to the Wall Street Journal, be a mite testy. The last few years have been flush for the cartel, with oil prices well above their historical average. Now fracking is changing all that--and hammering open fissures in the cartel that been temporarily plugged with huge wads of petrodollars. On one side are members like Saudi Arabia, who you can think of as OPEC's central banker. Saudi Arabia sits on top of a vast reservoir of high quality oil that is cheap to pump and cheap to refine. It's not...
  • Opec under siege as Isil threatens world's oil lifeline

    05/30/2015 7:33:57 AM PDT · by Enlightened1 · 13 replies
    The Telegraph ^ | 05/30/15 | Andrew Critchlow
    As the bloc’s 12 oil ministers meet in Vienna, the march of Isil jihadists in the Middle East is putting Iran and Saudi Arabia on a collision course with explosive consequences Thick black smoke rising from the Baiji oil refinery could be seen as a dirty smudge on the horizon as far away as Baghdad after fighters from the Islamic State of Iraq and the Levant (Isil) set fire to the enormous processing plant just over 100 miles north of the capital last week. The decision to torch the refinery, which once produced around a third of Iraq’s domestic fuel...
  • U.S. retail gasoline prices lowest since 2009 heading into Memorial Day weekend

    05/22/2015 5:07:46 AM PDT · by thackney · 12 replies
    Energy Information Administration ^ | MAY 22, 2015 | Energy Information Administration
    On May 18, the U.S. average retail price for gasoline was $2.74 per gallon ($/gal), or 92˘ per gallon (˘/gal) lower than at the same time last year. This is the lowest average price heading into the Memorial Day weekend—the traditional start of the summer driving season—since 2009. Lower gasoline prices reflect lower crude oil prices, with the spot price of North Sea Brent crude oil at more than $45 per barrel ($/b) lower than the same time last year, despite having increased more than $10/b since the beginning of February. Average retail prices for all regions of the country...
  • Texas Legislature Preempts Denton Fracking Ban

    05/20/2015 1:39:35 PM PDT · by ThethoughtsofGreg · 6 replies
    American Legislator ^ | 5-20-15 | John Eick
    Last November, citizens of Denton, TX voted via referendum to ban the oil and gas well stimulation technique commonly known as hydraulic fracturing or “fracking.” The outcome was significant since the city sits on top of the Barnett shale play, the third largest onshore natural gas producing field in the U.S. Although a handful of municipalities and counties across the country have banned fracking or related activities, Denton is the first city with significant oil or natural gas deposits to do so. Last year, ALEC briefly wrote about the lawsuits filed in Texas challenging the legality of the ban and...
  • Goldman Sachs Predicting $45 Oil By October

    05/20/2015 11:34:40 AM PDT · by bananaman22 · 8 replies
    Oilprice.com ^ | 20-05-2015 | pricingpoints
    Could oil prices be in for yet another decline? Oil prices have rebounded with surprising speed in recent weeks, with WTI prices bouncing by more than a third from March lows. There are good reasons for this. Rig counts are down by nearly 1,000 (or nearly 60 percent) since hitting a high in October 2014. Spending on some of the world’s largest projects has been cut by a combined $129 billion, a figure that could balloon to $200 billion by 2016. The spending and drilling contraction is finally leading to some small production declines.
  • Two States of Mind

    05/18/2015 11:46:27 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | May 18, 2015 | Paul Greenberg
    LITTLE ROCK, Ark. -- What a difference a border can make. Sometimes it marks a difference not just in altitude but attitude. When our neighbors in Oklahoma find the ground shaking beneath their feet, they know well enough what's causing it. Or they should know by now. As quake follows quake in the center of that state, the cause becomes undeniable: the injection of wastewater into deep wells as part of the process called fracking. The number of good-sized tremors in our neighboring state has multiplied tenfold within just the past three years. The revolution in oil-and-gas production that's making...
  • Exclusive: Anti-Fracking Filmmaker Josh Fox Arrested In Finger Lakes Protest

    05/15/2015 10:22:31 AM PDT · by thackney · 33 replies
    The Daily Beast ^ | 05.13.15 | James Joiner
    The creator of the award-winning film ‘Gasland’ was just arrested at a protest in rural New York. Here’s the mini-documentary he made on the eve of his arrest. Award-winning documentary filmmaker Josh Fox, who wrote and directed the acclaimed fracking film Gasland, was arrested this afternoon while engaging in a human barricade at a natural-gas storage facility in the Finger Lakes. “People need to see what’s happening at Seneca Lake, and also understand that this isn’t isolated, it is happening everywhere,” Fox told The Daily Beast before the protest. “We need to educate people that our dependency on fossil fuels...
  • Saudi Arabia Continues To Turn Screws On U.S. Shale

    05/13/2015 11:50:03 AM PDT · by Opintel · 16 replies
    Oilprice.com ^ | 13-05-2015 | ShaleDefender
    Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC’s latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month’s total of 10.29 million barrels. That was enough for the de facto OPEC leader to claim its highest oil production level in more than three decades. Saudi Arabia has increased production by 700,000 barrels per day since the fourth quarter of 2014 in an effort maintain market share. The resulting crash in oil prices is forcing some...
  • The arguments that convinced a libertarian to support aggressive action on climate

    05/13/2015 6:05:00 PM PDT · by Citizen Zed · 46 replies
    vox ^ | 5-12-2015 | David Roberts
    To the casual observer, the American right can appear an undifferentiated wall of denial and obstructionism on climate change, but behind the scenes there are signs of movement. A growing number of conservative leaders and intellectuals have come to terms with climate science and begun casting about for solutions. Led mainly by libertarians and libertarian-leaning economists, they've begun to coalesce behind a carbon tax, which they consider the most market-friendly of the available alternatives. Jerry Taylor, a longtime veteran of the libertarian think tank Cato Institute who recently founded his own libertarian organization, the Niskanen Center, is a vocal proponent...
  • earthquake off Japan, 6.8

    05/12/2015 2:57:09 PM PDT · by RaceBannon · 39 replies
    USGS ^ | 5/12/15 | usgs
    big one, just listed 6.8 33km SE of Ofunato, Japan 2015-05-12 21:12:58 UTC