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Keyword: hydrocarbons

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  • 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...
  • ISIS' thirst for oil could lead to 'global catastrophe' if unchecked, experts say

    08/21/2014 6:53:42 PM PDT · by 2ndDivisionVet · 21 replies
    Fox News ^ | August 21, 2014 | Joshua Rhett Miller
    Islamic State's thirst for blood has the world on edge, but its equally insatiable yearning for oil could prove a "catastrophe" for the global economy if the terror organization isn't stopped, experts say. The jihadist group, formerly known as ISIS, now controls seven oil fields and two small refineries in northern Iraq, bringing in as much as $2 million per day by selling up to 40,000 barrels via middlemen in illicit deals. The black market oil sells for roughly $25 to $60 per barrel, compared to the current market rate of $102, according to Luay al-Khatteeb, founder and executive director...
  • 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...
  • Eagle Ford wave lifts Blue Dolphin Energy refinery

    08/21/2014 5:30:24 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | August 21, 2014 | Vicki Vaughan
    The Eagle Ford Shale is boosting the fortunes of Blue Dolphin Energy Co., which took a chance when it bought a rusty, mothballed refinery in the small town of Nixon about seven years ago. Blue Dolphin bought the plant out of bankruptcy before the promise of the Eagle Ford was apparent. The company spent tens of millions refurbishing the plant and restarted it in early 2012. Nixon, which is about 54 miles east of San Antonio, straddles Gonzales and Wilson counties in a booming part of the shale play. The plant buys every drop of its crude oil from drillers...
  • Gulf Coast to benefit from refinery retrofits

    08/21/2014 5:27:02 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | August 21, 2014 | Rhiannon Meyers
    The Texas Gulf Coast will be ground zero for a push to equip refineries to handle a flood of light crude unlocked in the U.S. shale boom, but the investments will be relatively conservative, a petrochemical consultant said Wednesday. Refiners wont spend the big bucks they dropped when they retooled to handle heavy, high-sulfur crude several years ago, largely because its cheaper and simpler to modify a refinery to process lighter crude, said Jim Jones, senior vice president at Dallas-based petrochemical consulting firm Turner, Mason and Company. It wont be a $5 billion investment, it will be a couple million...
  • Texas price gap widens as oil production rises

    08/19/2014 12:55:11 PM PDT · by thackney · 18 replies
    Fuel Fix ^ | August 19, 2014 | Robert Grattan
    The gap between crude oil prices in the major trading centers of Midland, Texas and Cushing, Okla. ballooned to $19 Tuesday morning, the widest point this year and second-highest on record. On Tuesday morning, the price for crude oil hit a low of $77.48 per barrel in Midland. In Cushing, the benchmark pricing point for U.S. crude contracts, the price was $96.48. Worldwide crude prices fell, Bloomberg reported, after Iraqi and Kurdish forces regained control of a key dam in Iraq and slowed the advance of Islamic State militants. Midland prices are further depressed because production growth in West Texas...
  • Oil and gas company debt soars to danger levels to cover shortfall in cash

    08/11/2014 4:08:43 PM PDT · by Lorianne · 19 replies
    Telegraph (UK) ^ | 11 August 2012 | Ambrose Evans-Pritchard
    The worlds leading oil and gas companies are taking on debt and selling assets on an unprecedented scale to cover a shortfall in cash, calling into question the long-term viability of large parts of the industry. The US Energy Information Administration (EIA) said a review of 127 companies across the globe found that they had increased net debt by $106bn in the year to March, in order to cover the surging costs of machinery and exploration, while still paying generous dividends at the same time. They also sold off a net $73bn of assets. This is a major departure from...
  • Permians Oil Surge Creates Need for Pipelines

    08/08/2014 4:22:20 AM PDT · by thackney · 10 replies
    Fox Business ^ | August 07, 2014 | Matthew Rocco
    With crude gushing from the Permian Basin, companies are ramping up efforts to build pipelines and better capitalize on the production surge. Drillers have been producing oil in the Permian for some eight decades. But in recent years, the Texas formations central region, which consists of the Delaware and Midland basins, became a hotbed for shale oil. The Permian is now the top oil-producing area in the U.S., accounting for 18% of the nations total output in 2013. Based on data from the Energy Information Administration, the Permian recorded production of 1.35 million barrels per day last year. The region...
  • 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...
  • The Stunning Key That Could Unlock 160 Billion Barrels of Oil Trapped Underneath America

    07/20/2014 1:42:44 PM PDT · by ckilmer · 69 replies
    fool.com ^ | July 20, 2014 | By Matt DiLallo
    The Stunning Key That Could Unlock 160 Billion Barrels of Oil Trapped Underneath America By Matt DiLallo | More Articles July 20, 2014 | Comments (0) Photocredit: Flickr/Melissa It is estimated that there are 160 billion barrels of oil still trapped underneath this country in what are considered depleted oil fields. That's a tremendous amount of oil given that America uses about seven billion barrels of it each year. In fact, if we could only find the key to unlock this trapped oil wecould extend fleeting our reserves by more than 22 years.That's why it probably comes as a surprise...
  • Kemp: Peak Petroleum Engineer? Or Still Time to Join the Boom?

    07/17/2014 4:58:32 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | July 17, 2014 | John Kemp
    Petroleum engineers are among the best paid professionals in the United States. Only chief executives and some specialist doctors earned more last year, according to federal government pay data. Petroleum engineers were paid an average of $132,000 a year, with the top 10 percent on more than $187,000, according to the Bureau of Labor Statistics (BLS). These figures include everyone from the newest graduates to the most experienced engineers with decades of experience, and are based on median earnings in May 2013. Petroleum engineers earned almost four times as much as the average employee across the economy, who was on...
  • Reuters Exclusive: Iraq Tells U.N. that 'Terrorist Groups' Seized Nuclear Materials

    07/09/2014 6:18:37 PM PDT · by kristinn · 44 replies
    Reuters ^ | Wednesday, July 9, 2014 | Michelle Nichols (with Mark Hosenball)
    Insurgents in Iraq have seized nuclear materials used for scientific research at a university in the country's north, Iraq told the United Nations in a letter appealing for help to "stave off the threat of their use by terrorists in Iraq or abroad." Nearly 40 kilograms (88 pounds) of uranium compounds were kept at Mosul University, Iraq's U.N. Ambassador Mohamed Ali Alhakim told U.N. Secretary-General Ban Ki-moon in the July 8 letter obtained by Reuters on Wednesday. "Terrorist groups have seized control of nuclear material at the sites that came out of the control of the state," Alhakim wrote, adding...
  • Canada pulls the plug on the U.S. Keystone Pipeline will send oil toAsia

    06/29/2014 8:38:39 PM PDT · by Signalman · 52 replies
    WUWT ^ | 6/28/2014 | Anthony Watts
    Obamas inability to make a decision on Keystone has finally yielded a result Canada has made the decision for him. Breitbart reports Canada has just approved the Enbridge Northern Gateway Project a major pipeline to ship Canadian oil to Asia. The Canadian oil will still be burnt in Asia, instead of America. All the jobs and energy security which Canadian oil could have delivered to America, will instead be delivered to Asia. Rather than purchasing crude from a friendly and allied neighbor, the United States will most likely need to continue its reliance upon hostile sources like...
  • The World Has 53.3 Years of Oil Left

    06/22/2014 10:52:21 AM PDT · by ckilmer · 67 replies
    fool.com ^ | June 22, 2014 | Matt DiLallo
    The World Has 53.3 Years of Oil Left By Matt DiLallo |June 22, 2014 |Photo credit: BP. BP (NYSE: BP) has provided an intriguing update to its global oil reserves estimate in the company's latest yearlyreview of energy statistics. BP raised its reserve estimate by 1.1% to 1,687.9 billion barrels, which is enough oil to last the world 53.3 years at the current production rates. However, there's likely a lot more oil left in the tank beyond what BP sees today. America's energy boom surgesA good portion of the growth in global oil reserves in BP's report comes from the...
  • What Iraq's war may mean for the Keystone pipeline

    06/19/2014 6:26:32 AM PDT · by shove_it · 11 replies
    CNBC ^ | 18 Jun 2014 | Javier E. David
    Supporters of the Keystone XL pipeline have found a new talking point: Iraq Violence exploding in one of the world's largest oil-producing nations is ricocheting in the debate over U.S. energy policy. Backers of the pipeline, which would run from Alberta, Canada, to Texas, are pointing to the crisis in Iraq as a rationale for pushing the project forward. Often billed as a possible component for supplying the U.S.'s voracious energy markets with crude oil, TransCanada's long-delayed $5.3 billion pipeline has been mired in delays for six years. On Wednesday, the Senate Energy and Natural Resources committee voted 12-10 to...
  • US Senate Panel Advances Bill To Force Keystone Pipeline Approval

    06/19/2014 5:04:43 AM PDT · by thackney · 16 replies
    Reuters via Rig Zone ^ | June 18, 2014 | Ros Krasny
    The U.S. Senate Energy Committee advanced a bill on Wednesday that would force congressional approval of TransCanada's proposed Keystone XL oil pipeline project, but the measure seems unlikely to be taken up by the full Senate. The bill, the latest effort by lawmakers to breathe life into the long-delayed pipeline from Canada to the U.S. Gulf Coast, will languish without a commitment from Senate Majority Leader Harry Reid to bring it to a vote. The measure, from Democratic Senator Mary Landrieu of Louisiana and Republican Senators John Hoeven of North Dakota and Lisa Murkowski of Alaska, would take a decision...
  • Senate panel votes to approve Keystone (but Reid won't bring it up for vote)

    06/18/2014 12:10:01 PM PDT · by Cincinatus' Wife · 13 replies
    The Hill ^ | June 18, 2014 | Timothy Cama
    The Senate Energy and Natural Resources Committee voted Wednesday to approve the Keystone XL pipeline, delivering a rebuke to President Obama. All Republicans on the panel voted to clear the pipeline, joined by Chairwoman Mary Landrieu (La.) and Sen. Joe Manchin (W.Va.), two Democrats in energy-heavy states, in a 12-10 vote. Proponents of the pipeline expressed frustration with Obamas refusal to take action for more than five years on the final leg of Keystone, which is planned to run from Albertas oil sands to refineries on the United States Gulf Coast. I really wish we werent sitting here years after...
  • We Are So Not Prepared For Another Oil Shock

    06/17/2014 6:55:43 PM PDT · by Lorianne · 18 replies
    Dollar Collapse ^ | 15 June 2014 | John Rubino
    In one sense, energy doesnt matter all that much to whats coming. Once debt reaches a certain level, oil can be $10 a barrel or $200, and either way were in trouble. But the cost of energy can still play a role in the timing and shape of the next financial crisis. The housing/derivatives bubble of 2006 -2008, for instance, might have gone on a while longer if oil hadnt spiked to $140/bbl in 2007. And the subsequent recovery was probably expedited by oil plunging to $40 in 2008. With the Middle East now lurching towards yet another major war,...
  • Iraq's biggest oil refinery shut down, foreign staff evacuated

    06/17/2014 8:22:02 AM PDT · by Rusty0604 · 15 replies
    Reuters ^ | 06/17/2014 | Oliver Holmes
    Iraq's biggest oil refinery, Baiji, has been shut down and its foreign staff evacuated, refinery officials said on Tuesday, adding that local staff remain in place and the military is still in control of the facility Due to the recent attacks of militants by mortars, the refinery administration decided to evacuate foreign workers for their safety and also to completely shut down production units to avoid extensive damage that could result," a chief engineer at the refinery said on condition of anonymity.
  • Analyst: Fall Of Baghdad Would Make Current Gas Prices Look Like A Bargain'

    06/14/2014 7:29:57 AM PDT · by MeshugeMikey · 46 replies
    C.B.S. local ^ | June 13, 2014 | Not Attributed
    "any reduction in the flow of Iraqi crude due to the ongoing Islamic insurgency in the northern Iraq cities of Mosul and Tikrit could have worldwide economic consequences, according to oil industry analyst Phill Flynn, who said speculators are watching for the worst-case scenario."
  • Kurds Seize Disputed Oil Hub Amid Iraq Chaos (assume control of "majority of the Kurdistan region")

    06/14/2014 9:42:32 AM PDT · by xzins · 64 replies
    AP ^ | June 14, 2014 | Diaa Hadid and Emad Matti
    After a decades-long dispute between Arabs and Kurds over the oil-rich northern Iraqi city of Kirkuk, it took just an hour and a half for its fate to be decided. As al-Qaida-inspired militants advanced across northern Iraq and security forces melted away, Kurdish fighters who have long dominated Kirkuk ordered Iraqi troops out and seized full control of the regional oil hub and surrounding areas, according to a mid-ranking Army officer. He said he was told to surrender his weapons and leave his base. "They said they would defend Kirkuk from the Islamic State," said the Arab officer, who oversaw...
  • A billion-dollar daily shot in the arm for the American economy

    06/13/2014 9:30:58 AM PDT · by ckilmer · 15 replies
    exxonmobilperspectives ^ | August 17, 2012 | Ken Cohen
    A billion-dollar daily shot in the arm for the American economy Posted: August 17, 2012 by Ken Cohen Print this: email   inShare   One billion dollars every single day.That is the rough measure of the benefit the U.S. economy is estimated to receive by the end of this year thanks to the development of new supplies of oil and natural gas, according to a new analysis.USA Today reported recently about a Merrill Lynch study that seeks to quantify just how much the new supplies of natural gas and oil from unconventional sources like shale – not to mention offshore...
  • Bloody Mexican Shale Fields Sit Idle While Texas Booms

    06/13/2014 5:46:51 AM PDT · by thackney · 10 replies
    Reuters via Rig Zone ^ | June 12, 2014 | David Alire Garcia
    To grasp the difficulties Mexico faces in capitalizing on a North American shale boom, just wander into the dusty landscape due south of the U.S. border. On one side of the fence, thousands of wells work around the clock in Texas to produce record volumes of shale oil and gas, transforming towns like Carrizo Springs in a modern-day gold rush. On the other side, violent drug cartels roam above untapped shale riches, leaving behind a trail of blood. The relatively few conventional wells operated by state oil giant Pemex and its contractors close down overnight as a security precaution. But...
  • Bureau Of Land Management Forecloses Oil Leasing, Utah Sues

    06/12/2014 2:00:57 AM PDT · by lilyramone · 6 replies
    DailyCaller ^ | June 11, 2014 | Jonah Bennett
    In yet another spat between the Bureau of Land Management and residents of a western state, Utah is suing the federal agency after it unlawfully foreclosed oil and gas leasing on unprotected lands. Utahs litigation alleges that the BLM is imposing wilderness criteria on lands outside designated wilderness and wilderness study areas. Uintah County and the Utah Association of Counties is joining the suit, claiming that they have been left out of key management decisions.
  • Gulf of Mexico saturated with oil?

    01/30/2007 8:39:08 AM PST · by milwguy · 57 replies · 1,890+ views
    petroleumnews ^ | 01/30/2007 | milwguy
    Chevron's announcement this week that the Jack Field located in the Gulf of Mexico 270 miles southwest of New Orleans may have as much as 15 billion barrels of oil was not the only recent find of oil in the Gulf. In March, Mexico announced the discovery of a new huge oil find, the Noxal Field some 60 miles from the port of Coatzacoalcos on the coast of Veracruz state. Estimated to contain as much as 10 billion barrels of oil, the find could well be larger than Cantarell, Mexico's biggest oil field, near Yucatan. Like the Jack Field discovery,...
  • US Navy 'game-changer': converting seawater into fuel

    04/07/2014 9:18:38 AM PDT · by DeaconBenjamin · 50 replies
    economic times ^ | 7 Apr, 2014, 08.00PM IST
    WASHINGTON: The US Navy believes it has finally worked out the solution to a problem that has intrigued scientists for decades: how to take seawater and use it as fuel. The development of a liquid hydrocarbon fuel is being hailed as "a game-changer" because it would signficantly shorten the supply chain, a weak link that makes any force easier to attack. The US has a fleet of 15 military oil tankers, and only aircraft carriers and some submarines are equipped with nuclear propulsion. All other vessels must frequently abandon their mission for a few hours to navigate in parallel with...
  • US Navy 'game-changer': converting seawater into fuel

    04/07/2014 9:13:03 AM PDT · by TangledUpInBlue · 25 replies
    AFP/Yahoo ^ | 4/7/14 | Mathieu Rabechault
    The US Navy believes it has finally worked out the solution to a problem that has intrigued scientists for decades: how to take seawater and use it as fuel. The development of a liquid hydrocarbon fuel is being hailed as "a game-changer" because it would signficantly shorten the supply chain, a weak link that makes any force easier to attack. The US has a fleet of 15 military oil tankers, and only aircraft carriers and some submarines are equipped with nuclear propulsion.
  • Net energy imports in 2013 lowest in more than 20 years

    04/02/2014 1:09:41 PM PDT · by thackney · 9 replies
    Energy Information Administration ^ | APRIL 2, 2014 | Energy Information Administration
    Total U.S. net imports of energy, measured in terms of energy content, declined in 2013 to their lowest level in more than two decades. Growth in the production of oil and natural gas displaced imports and supported increased petroleum product exports, driving most of the decline. A large drop in energy imports together with a smaller increase in energy exports led to a 19% decrease in net energy imports from 2012 to 2013. Total energy imports declined fasterdown 9% from 2012 to 2013than in the previous year, while export growth slowed. Crude oil production grew 15%, about the same pace...
  • Report: Condensate could be first crack in oil export ban

    04/02/2014 11:31:58 AM PDT · by thackney · 31 replies
    Fuel Fix ^ | April 2, 2014 | Jennifer A. Dlouhy
    A simple tweak by the Commerce Department would allow the U.S. to begin selling ultralight fossil fuels overseas, a significant first step in easing the 39-year-old ban on crude exports, a new report says. The analysis released by Sen. Lisa Murkowski, R-Alaska, focuses on condensate, a natural gas liquid made up of light fuels such as propane and butane. The fuels generally flow as liquids at normal temperatures even if theyre gas underground. Though it is chemically different than crude, condensate is swept under the oil export ban at least as long as the light hydrocarbon is coming out...
  • US gasoline prices reach six-month high as ethanol climbs

    04/02/2014 6:58:35 AM PDT · by thackney · 33 replies
    Bloomberg News via Fuel Fix ^ | April 2, 2014 | Barbara Powell
    Link only due to Bloomberg content
  • Texas producing 36 percent of US crude

    04/02/2014 6:55:02 AM PDT · by thackney · 23 replies
    Fuel Fix ^ | April 1, 2014 | Ryan Holeywell
    Texas is producing about 36 percent of the countrys crude oil three times more than any other state, according to the latest monthly figures from the U.S. Energy Information Administration. Texas pumped nearly 2.9 million barrels of crude daily of the 7.9 million barrels produced nationwide in January, the latest month for which figures are available. The Gulf of Mexico produced about 17 percent, the second-largest portion, followed by North Dakota with about 12 percent of the U.S. crude. California and Alaska rounded out the top five crude-producing areas, each home to about 7 percent of the nations oil....
  • Thanks to Fracking, U.S. Will Pass Saudi Arabia In Oil Production

    03/12/2014 3:59:46 PM PDT · by VitacoreVision · 15 replies
    The New American ^ | 12 March 2014 | Warren Mass
    Thanks to Fracking, U.S. Will Pass Saudi Arabia In Oil Production 12 March 2014 Thanks to fracking, or hydraulic fracturing, a process used to extract oil from shale, the United States will soon pass Saudi Arabia as the worlds largest oil producer....
  • Are we sitting on unlimited fossil-fuel resources?

    06/03/2011 12:34:43 PM PDT · by SeekAndFind · 43 replies
    Hotair ^ | 06/03/2011 | Ed Morrissey
    You’ve heard that we’re running out of oil. You’ve heard that natural gas has a finite and ever-shortening supply. The media has been reporting on Peak Oil for decades, and the peak has always been just around the next corner. But what if that weren’t true, and for practical purposes, the US has an unlimited supply of fossil fuel for its energy needs? Would that not undercut the entire notion of an energy crisis, except as self-inflicted?Get ready for a paradigm change, courtesy of … Salon? (via Ace) Are we living at the beginning of the Age of Fossil Fuels,...
  • Huge Natural Gas From Methane Hydrates Process Developed

    05/03/2012 12:51:07 PM PDT · by Ernest_at_the_Beach · 57 replies
    New Energy and Fuel ^ | May 3, 2012
    U.S. Department of Energy (DOE) Secretary Steven Chu contributed a statement to an announced breakthrough in research into tapping the vast fuel resource of methane hydrates that could eventually bolster already massive U.S. natural gas reserves.As Al Fin pointed out yesterday natural gas is priced to a barrel of oil equivalent at about $10-$11 per the estimable Geoffrey Styles view, something less than 10% of the cost of oil. For North Americans adding a viable and hopefully low cost means to make use of gas hydrates could be giant boost to low cost fuel sources and a massive kick to...
  • New research shows how oil gets stuck underground (Denmark)

    05/11/2009 1:15:22 PM PDT · by decimon · 16 replies · 1,339+ views
    University of Copenhagen ^ | May 11, 2009 | Unknown
    Nano-research on drill cores from the North Sea might help increase extraction rates of oil in Denmark It is a mystery to many people why the world is running out of oil when most of the worlds oilfields have only been half emptied. However some of the oil that has been located is trapped as droplets of oil in small cavities in the surrounding rock or is stuck to the walls of the underground cavity and cannot be accessed by the techniques currently used in the oil industry. Now, new research may have come up with an explanation as to...
  • Oil Fields' Free Refill - More oil than we thought (maybe)

    04/23/2002 4:48:26 PM PDT · by visagoth · 83 replies · 1,584+ views
    Newsday ^ | April 16, 2002 | Robert Cooke
    DEEP UNDERWATER, and deeper underground, scientists see surprising hints that gas and oil deposits can be replenished, filling up again, sometimes rapidly. Although it sounds too good to be true, increasing evidence from the Gulf of Mexico suggests that some old oil fields are being refilled by petroleum surging up from deep below, scientists report. That may mean that current estimates of oil and gas abundance are far too low. Recent measurements in a major oil field show "that the fluids were changing over time; that very light oil and gas were being injected from below, even as the producing...
  • New evidence supports 19th century idea on formation of oil and gas

    11/04/2009 11:55:29 AM PST · by decimon · 51 replies · 1,755+ views
    American Chemical Society ^ | Nov 4, 2009 | Unknown
    Scientists in Washington, D.C. are reporting laboratory evidence supporting the possibility that some of Earth's oil and natural gas may have formed in a way much different than the traditional process described in science textbooks. Their study is scheduled for Nov./Dec. issue of ACS' Energy & Fuels, a bi-monthly publication. Anurag Sharma and colleagues note that the traditional process involves biology: Prehistoric plants died and changed into oil and gas while sandwiched between layers of rock in the hot, high-pressure environment deep below Earth's surface. Some scientists, however, believe that oil and gas originated in other ways, including chemical reactions...
  • Huge hydrogen stores found below Earth's crust

    04/15/2002 6:58:27 PM PDT · by pragmatic_asian · 65 replies · 1,847+ views
    Vancouver Sun ^ | April 15, 2002 | Robert Matthews
    LONDON -- Scientists have discovered vast quantities of hydrogen gas, widely regarded as the most promising alternative to today's dwindling stocks of fossil fuels, lying beneath the Earth's crust. The discovery has stunned energy experts, who believe that it could provide virtually limitless supplies of clean fuel for cars, homes and industry. Governments across the world are urgently seeking ways of switching from conventional energy sources such as coal, gas and nuclear power to cleaner, safer alternatives. Energy specialists estimate that oil production will start to decline within the next 10 to 15 years, as the economically viable reserves start...
  • Barbara Boxer sees carbon tax in the mix ('Sandy' will be catalyst for O's climate change action)

    01/22/2013 1:34:53 PM PST · by NormsRevenge · 30 replies
    SFGate.com ^ | 1/22/13 | Carolyn Lochhead
    Sen. Barbara Boxer said she had a one word answer for why President Obama promised to act on climate change in his second inaugural address: Sandy. Boxer called Hurricane Sandy a turning point in public opinion on global warming, and said Washington will act to curb CO2 emissions not via legislation but through the Environmental Protection Agency. My view is they have no choice but to act, Boxer said, referring to a Supreme Court ruling that affirmed that greenhouse gasses are pollutants under the Clean Air Act. The EPA has huge authority here. ... There may be a way to...
  • Boxer: Carbon dioxide will be leading cause of conflict in next 20 years

    06/10/2010 2:37:56 PM PDT · by Ernest_at_the_Beach · 62 replies · 1,038+ views
    Hot Air ^ | June 10, 2010 | Ed Morrissey
    Lets see how Senator Maams priorities work in this revealing clip from her speech earlier today in the Senate. Weve had four terrorist attacks in less than a year, two of which succeeded in killing people and another two which only failed because of the incompetence of the terrorist. Iran is a year or less away from getting a nuclear weapon. Turkey is rapidly sliding towards Islamism. North Korea is doing their best to restart the Korean War.And what keeps Barbara Boxer awake at night? A raging case of the vapors: Im going to put in the record, Madam President,...
  • Barbara Boxer uses Oklahoma tornado to push carbon tax

    05/21/2013 9:48:56 AM PDT · by SeekAndFind · 60 replies
    Daily Caller ^ | 05/21/2013 | Michael Bastasch
    California Democratic Sen. Barbara Boxer blamed the tornado that devastated Oklahoma on global warming during a Senate floor speech Tuesday, using the opportunity to push her own plan to tax carbon dioxide emissions. This is climate change, Boxer said. This is climate change. We were warned about extreme weather: Not just hot weather, but extreme weather. When I had my hearings, when I had the gavel years ago its been a while the scientists all agreed that what wed start to see was extreme weather. Carbon could cost us the planet, Boxer added, plugging her own carbon tax...
  • Senate Dems to set up global warming task force (Boxer leads the hoax)

    01/10/2014 3:19:39 PM PST · by Libloather · 23 replies
    Daily Caller ^ | 1/09/14 | Michael Bastasch
    Senate Democrats are planning on setting up a global warming task force to revive the issue in Congress and help President Obama achieve the goals set out in his climate agenda. Democratic Sens. Barbara Boxer and Sheldon Whitehouse told reporters on Thursday that they would launch the task force with more than a dozen members. They say they have the full support of Senate Majority Leader Harry Reid. The purpose is to use the bully pulpit of our Senate offices to achieve that wakeup call, Boxer told reporters who gathered in her office. We believe that climate change is a...
  • Climate change warning labels on gas pumps?

    01/09/2014 2:38:10 PM PST · by artichokegrower · 38 replies
    San Francisco Chronicle ^ | January 9, 2014 | David R. Baker
    Buy a pack of cigarettes, and a printed warning from the surgeon general will remind you that smoking causes cancer. Obviously, youve chosen to smoke anyway. But perhaps one day youll look at that message, printed on the pack, and resolve to change your ways. Now, apply that idea to global warming. A group of Bay Area environmentalists wants to slap warning stickers on gasoline pumps, telling drivers that the fuel theyre buying is cooking the planet. The stickers would constantly remind consumers of the link between driving and climate change.
  • Whoops! Earth's Oldest 'Diamonds' Actually Polishing Grit

    01/03/2014 2:26:38 PM PST · by aimhigh · 14 replies
    LiveScience ^ | 1/3/2014 | Becky Oskin
    Evidence of Earth's first continents 4.3-billion-year-old "diamonds" are actually just fragments of polishing grit, a new study finds. In 2007, an international team first reported discovering the tiny gems, which hid in pockets inside zircon crystals from Western Australia's Jack Hills, in the journal Nature. But it turns out that the gems weren't actually diamonds, but polishing paste, smushed into hairs'-width cracks when the zircons were prepared for laboratory tests, according to a study published online in the Feb. 1, 2014, edition of the journal Earth and Planetary Science Letters.
  • Toyota Brings Hydrogen Cars To Production

    12/11/2013 3:27:33 AM PST · by 2ndDivisionVet · 38 replies
    The Big Stage from NYSE ^ | December 10, 2013 | Josh Dean
    Twelve years ago, Toyota Motor Corp. (NYSE: TM) began testing a unique and outlandishly expensive automobile in California: a car powered by hydrogen fuel cells. This so-called FCHV (fuel cell hybrid vehicle) was an electric car that didnt need to be plugged in. Its electricity was generated by a stack of fuel cells that ran on compressed gaseous hydrogen, a relatively cheap fuel that gives off no harmful emissions; its only byproduct was water vapor. The FCHV never made it to dealer lots, however. Production of plug-in electric cars proved more viable, partially because the FCHV technology was...
  • Toil for oil means industry sums do not add up

    11/30/2013 11:43:53 AM PST · by Lorianne · 13 replies
    Financial Times ^ | 25 November 2013 | Mark Lewis
    High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/5e923e3a-51d3-11e3-8c42-00144feabdc0.html#ixzz2m9yJLw8r The most interesting message in this years World Energy Outlook from the International Energy Agency is also its most disturbing. Over the past decade, the oil and gas industrys upstream investments have registered an astronomical increase, but these ever higher levels of capital expenditure have yielded ever smaller increases in the global oil supply. Even these have only been made possible...
  • Surprising Trove of Gas Seeps Found Off East Coast

    06/21/2013 12:10:40 PM PDT · by neverdem · 21 replies
    LiveScience.com via Yahoo ^ | Jun 19, 2013 | Douglas Main
    On the seafloor just off of the U.S. East Coast lies a barely known world, explorations of which bring continual surprises. As recently as the mid-2000s, practically zero methane seeps spots on the seafloor where gas leaks from the Earth's crust were thought to exist off the East Coast; while one had been reported more than a decade ago, it was thought to be one of a kind. But in the past two years, additional studies have revealed a host of new areas of seafloor rich in seeps, said Laura Brothers, a research geologist at the U.S. Geological...
  • Science: Democrat Rep. Ral Grijalva borrows lab coat, makes best pro-Keystone XL video ever

    06/02/2013 7:37:58 AM PDT · by Rusty0604 · 31 replies
    Twitchy ^ | 06/01/2013 | Twitchy
    Were used to hearing that Republicans are the anti-science party, but that criticism is especially hard to take in light of Rep. Ral Grijalvas new video, warning of the dangers of building the Keystone XL pipeline. Weve also been assured that conservatives dont understand the nuances of metaphor, but theres just something about Grijalva playing politics while wearing a borrowed lab coat and pretending to be a scientist that makes you miss Al Gores relatively sophisticated hucksterism. The videos so bad, in fact, that the National Republican Congressional Committee is urging people to view it, calling it a must watch....
  • College fossil-fuel divestment movement builds

    05/23/2013 2:25:02 AM PDT · by Olog-hai · 28 replies
    Associated Press ^ | May 22, 2013 6:34 PM EDT | Kevin Begos and Joann Loviglio
    Student activists at more than 200 colleges are trying a new tactic in hopes of slowing the pace of climate change: They are asking their schools to stop investing in fossil fuel companies. The Fossil Free campaign argues that if its wrong to pour pollution into the air and contribute to climate change, its also wrong to profit from it. The strategy, modeled after anti-apartheid campaigns of the 1980s, aims to limit the flow of capital to fossil fuel companies by making their stocks morally and financially unattractive. In theory, that could lead to a slowdown in how much fossil...