Keyword: naturalgas

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  • An inviting opportunity for the American energy renaissance

    03/25/2015 4:44:00 AM PDT · by thackney · 1 replies
    Washington Times ^ | March 22, 2015 | William O'Keefe
    Last month the White House submitted President Obama’s annual economic report to Congress. Nestled in the findings is a compelling case for lifting the country’s antiquated ban on natural gas exports. “An increase in U.S. exports of natural gas, and the resulting price changes, would have a number of mostly beneficial effects,” the report states, for domestic employment, geopolitical security, our energy industry and the environment. The report ticks off numerous benefits — “create jobs in the short run,” “lower natural gas prices around the world,” “promote the use of cleaner energy abroad” — that make clear the question is...
  • W.Va. Finalizes Deal With Statoil To Drill Under Ohio River

    03/25/2015 4:40:04 AM PDT · by thackney · 18 replies
    The Intelligencer ^ | March 24, 2015 | CASEY JUNKINS
    For an average price of $8,732 per acre with 20 percent production royalties, the West Virginia Department of Commerce with allow Norway-based Statoil to frack for oil and natural gas thousands of feet beneath the Ohio River. The finalized lease agreement for drilling in state-owned mineral tracts under the river is in addition to those filed by Noble Energy and Gastar Exploration, which would pay the state $4.9 million and $749,000, respectively, in addition to the 20 percent royalties. These deals are not yet official, however, as the companies remain in negotiations with state leaders. "We are still finalizing agreements...
  • Saudi Arabia Looks To U.S. To Develop Shale Deposits

    03/24/2015 4:59:25 AM PDT · by thackney · 20 replies
    Manufacturing Business Technology ^ | 03/19/2015 | Andy Szal
    The boom in U.S. oil production over the past decade led thousands of workers to prairie cities from Texas to North Dakota. Now, Saudi Arabia hopes those workers—many of them casualties of the ongoing downturn in crude prices—will consider the deserts of the Middle East instead. Saudi Arabia has a long history of recruiting skilled workers from the West to develop its vast oil reserves. The country, however, also possesses shale oil deposits, and observers say the current oil market provides an opportunity for the Saudis to begin developing those resources. “With the layoffs, it’s a great time to do...
  • 100,000 Layoffs and Counting: Is This the New Normal?

    03/18/2015 5:30:12 AM PDT · by thackney · 17 replies
    Real Clear Energy ^ | March 17, 2015 | Andrew Topf
    This time a year ago, the oil industry's biggest problem was finding a way to deal with the “retirement tsunami” about to crash down on it as older oilfield workers hung up their cork boots to enjoy freedom-55. Now, with oil prices still in the doldrums, many of those same workers are lucky to be hanging onto their jobs, while others have been booted from the payroll as an ugly wave of layoffs takes hold. One of the worst-affected areas is the Canadian oil sands, where a higher per-barrel cost of production than conventional sources has oil companies scrambling to...
  • Fracking law opens North Carolina to drilling

    03/18/2015 5:21:50 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | March 17, 2015 | Associated Press
    Rules governing the hydraulic fracturing method for drilling natural gas are expected to take effect Tuesday, creating the potential for drilling to start later in the year. The set of 120 rules that govern issues including well construction, water testing and buffer zones was developed by the state Mining and Energy Commission over nearly two years and approved in December by a separate state panel. With the fracking rules in place, companies interested in finding natural gas can begin applying for fracking permits. A member of the Mining and Energy Commission, James Womack, said a company interested in fracking would...
  • 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...
  • Legislation Filed in Texas to Move Government Vehicles to Natural Gas

    03/13/2015 4:53:30 PM PDT · by shove_it · 31 replies
    PickensPlan ^ | March 12, 2015 | T. Boone Pickens
    Statement from T. Boone Pickens on Legislation Filed in Texas to Move Government Vehicles to Natural Gas March 12, 2015 The bill that State Senator Carlos Uresti and Lt. Governor Dan Patrick announced today will provide a roadmap – literally – for other states to follow to transition their fleet vehicles from imported gasoline and diesel to cleaner, cheaper domestic alternatives, including natural gas. Getting off foreign oil and utilizing American resources is crucial to the Texas oil and gas industry because it keeps taxpayer dollars from going to OPEC, and invests them in America instead. The oil and gas...
  • Mack Trucks Updates Its Natural-Gas Powered Semi Tractors

    03/10/2015 9:50:48 AM PDT · by thackney · 23 replies
    Green Car Reports ^ | Mar 9, 2015 | Stephen Edelstein
    Natural gas still hasn't really caught on as a fuel for private passenger vehicles, but it's slowly finding more success in commercial applications. The selection of natural-gas commercial vehicles is much larger, and using the fuel in fleets makes more sense from an environmental-impact standpoint than it does for individual cars. One company catering to this market is Mack Trucks, which announced that the natural-gas versions of its Pinnacle series trucks will get a handful of updates this year. These include a new Eaton UltraShift Plus automated transmission and Wingman Advanced safety system. The latter is essentially an adaptive cruise...
  • 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...
  • Obama Administration Should Abide By 'All of the Above' Approach to Energy

    03/04/2015 5:10:06 AM PST · by thackney · 14 replies
    IAGC via Rig Zone ^ | March 03, 2015 | Ken Wells
    The administration released in late January its draft five-year plan for offshore oil and gas leasing, the game plan for what areas will be open for exploration and how they will be managed. By no small coincidence, opponents of offshore exploration are now beating the drum to close off areas to oil and gas and put the emphasis entirely on wind power. As a country, we cannot take an either/or approach to our energy needs by picking just one source, whether it is wind or hydrocarbons. That is why the Administration’s stated goals of an “all of the above” energy...
  • Lithuania signs US deal to replace Russian gas

    03/01/2015 6:28:08 PM PST · by WhiskeyX · 31 replies
    Yahoo! ^ | 28 February 2015 | AFP
    Lithuania said Saturday it had signed a trade agreement to buy liquified natural gas from the United States in a move aimed at reducing the EU Baltic state’s heavy dependence on Russian gas deliveries. Under the deal with Houston-based Chenier Energy company, the first LNG fuel is expected to arrive in Lithuania as early as next year, state-owned company Litgas said in a statement.
  • Dresser-Rand to cut 8 percent of its workforce

    02/28/2015 7:21:12 AM PST · by thackney · 15 replies
    Fuel Fix ^ | February 27, 2015 | Collin Eaton
    Diesel engine and gas turbine maker Dresser-Rand Group is cutting 8 percent of its 8,100-employee workforce around the world in coming weeks, the company said Friday, trimming operating costs as falling crude prices have crushed profits in the oil service sector. The Houston firm, which makes oil industry tools including compression equipment and steam turbines, said the plan will cost $50 million in severance and other charges as it divests assets this year. But its “flexible” manufacturing business will enable the company to start realizing savings from fixed costs this year, it said. “While current market conditions may generate discomfort...
  • 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...
  • Kremlin: Ukraine has natural gas until Tuesday

    02/27/2015 6:28:31 AM PST · by McGruff · 8 replies
    UPI ^ | Feb. 27, 2015 | Daniel J. Graeber
    The natural gas spigot could be closed for Ukraine as early as Tuesday unless it pays for more deliveries in advance, Russia's energy minister said Friday. Russian energy company Gazprom confirmed it received $15 million from its Ukrainian counterpart, Naftogaz, which ensures gas deliveries until Tuesday.
  • Texas Legislature Gets Down to Business

    02/27/2015 5:59:12 AM PST · by thackney · 3 replies
    Texas Alliance of Energy Producers via Rig Zone ^ | February 26, 2015 | Alex Mills
    Before the Texas Legislature got down to business a month ago, there was a strong feeling among insiders that the big issues would be water, transportation, and taxes. So far, the leadership has kept true to those projections. Already, Governor Abbott has called for a $2.2 billion reduction in property taxes and a $2 billion franchise tax decrease. Lt. Governor Dan Patrick and House Speaker Joe Straus also have stated their belief that a primary goal should be tax reduction, and funding for transportation. The House Energy and Natural Resources committees already have held a joint hearing on water and...
  • Rise in salt cavern storage capacity for natural gas offsets declines in other capacities

    02/26/2015 5:15:37 AM PST · by thackney
    Energy Information Administration ^ | FEBRUARY 26, 2015 | Energy Information Administration
    With natural gas storage at low levels in most of 2014 and production relatively high, minimal new natural gas storage capacity was built, except for salt facilities in the Producing region. Capacity in the East region of the United States fell slightly, resulting in relatively unchanged national total capacity. EIA measures natural gas storage capacity in November of each year, which is typically when storage withdrawals begin to exceed storage injections. From November 2013 to November 2014, EIA found that each of EIA's two measures of storage capacity within the Lower 48 states was virtually unchanged, as increases in salt...
  • Fracking pushes New York towns to consider secession, join Pennsylvania

    02/25/2015 5:10:42 AM PST · by thackney · 38 replies
    NEWSDAY ^ | February 22, 2015 | NEWSDAY
    ...According to WBNG in Binghamton, 15 New York towns in the southern tier of the state are considering seceding from New York and joining neighboring Pennsylvania because of Gov. Andrew Cuomo's fracking ban. A local group called upstate New York Towns Association is examining whether such a plan is possible, and if it's worth the cost. James Finch, Conklin Town supervisor, told Capital New York that "everybody over the border has new cars, new four-wheelers, new snowmobiles," because of the stronger economy in Pennsylvania, which allows fracking.
  • 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”...
  • Study: Government’s [Unconstitutional] Control of Land Is Hurting Oil Production, Job Growth

    02/23/2015 10:11:18 AM PST · by PapaNew · 8 replies
    The Daily Signal ^ | February 22, 2015 | Ben Smith
    Current government regulations imposed by the Bureau of Land Management are harming energy production and holding back the U.S. economy, a new study reveals. “While federally owned lands are also full of energy potential, a bureaucratic regulatory regime has mismanaged land use for decades,” write The Heritage Foundation’s Katie Tubb and Nicolas Loris. The report focuses on the Federal Lands Freedom Act, introduced by Rep. Diane Black, R-Tenn., and Sen. James Inhofe, R-Okla. It is designed to empower states to regain control of their lands from the federal government in order to pursue their own energy goals. That is a...
  • Natural gas inventory exceeds five-year average for first time since November 2013

    02/20/2015 5:48:29 AM PST · by thackney · 12 replies
    Energy Information Administration ^ | FEBRUARY 20, 2015 | Energy Information Administration
    Working natural gas in storage has surpassed five-year average levels for the first time in more than a year. At 2,157 billion cubic feet (Bcf) as of February 13, stocks are 58 Bcf greater than the five-year average. Recent extremely cold weather may result in high stock withdrawals for the week ending February 20, which could again push stocks below their five-year average. However, natural gas production in February and March that is forecast to average 5 Bcf/day above the year-ago level is likely to contribute to healthy inventories and moderate prices as the nation moves from winter into spring....
  • 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...
  • The Federal Lands Freedom Act: Empowering States to Control Their Own Energy Futures

    02/18/2015 8:56:45 AM PST · by thackney · 5 replies
    The Heritage Foundation ^ | February 18, 2015 | Katie Tubb and Nicolas Loris
    Abstract The United States is now the world’s leader in both natural gas and oil production— centuries’ worth of oil, natural gas, and coal resources lie beneath private property as well as under lands owned by state governments. While federally owned lands are also full of energy potential, a bureaucratic regulatory regime has mismanaged land use for decades. The tremendous economic benefits of open energy markets and the proven track record of the individual states’ regulatory structures dictate a re-examination of the way the federal government manages resources on federal lands. The Federal Lands Freedom Act gives states the...
  • West Virginia Combined Cycle Plant Will Be First to Burn Ethane and Natural Gas

    02/18/2015 8:24:46 AM PST · by thackney · 3 replies
    Power ^ | 02/17/2015 | Gail Reitenbach
    On Monday, the West Virginia Public Service Commission (PSC) approved the siting certificate for Moundsville Power LLC to construct a 549-MW combined cycle natural gas power plant in Marshall County. It will be the first to also burn ethane. The company is also touting the project’s role in helping to offset the effect of area coal plant closings. With the PSC approval in hand, Moundsville Power’s next step is financing. Construction is scheduled to begin in late 2015, and the plant is expected to be operational in early 2018. The Moundsville Power facility will be a wholesale generator for the...
  • Why "drill, baby, drill" was right

    02/11/2015 4:35:29 PM PST · by upsdriver · 27 replies
    TribTalk ^ | February 11, 2015 | Sarah Palin
    It’s always a pleasure returning to the beautiful Lone Star State. This week I’m in Houston speaking with the industrious men and women of America’s oil patch at the North American Prospect Expo. These are the unsung heroes of our nation’s energy renaissance. In the brutal economic environment of the last six years, one sector had good news to report, and it came straight out of America’s oil patch. From 2007 to 2012, employment in the energy industry rose a dramatic 31.6 percent while employment nationwide fell 2.7 percent. U.S. oil production increased from 6.5 million barrels per day in...
  • Gov. Tom Wolf outlines 5 percent tax on natural gas drilling (It's for the Children!)

    02/11/2015 4:31:51 PM PST · by Kid Shelleen · 26 replies
    PennLive ^ | 02/04/2015 | Wallace McKelvey
    Gov. Tom Wolf outlined his proposal for a 5 percent severance tax on natural gas production, most of the proceeds of which will go toward education funding. "It's not like this is out of the blue," he said, in a speech from a Chester County elementary school. "We're the only state in the union with natural resources without a severance tax." The tax, which Wolf said was modeled after one in place in West Virginia, was a key component of his gubernatorial campaign.
  • Houston company postpones $100 million Nebraska plant project

    02/05/2015 4:41:56 AM PST · by thackney · 2 replies
    Fuel Fix ^ | February 4, 2015 | Associated Press
    A Houston-based company that makes piping and casing for oil and gas drilling has postponed plans to build a manufacturing plant in northeast Nebraska. Tejas Tubular Products President Maximo Tejeda told the Norfolk Daily News that he remains committed to building a mill next to Nucor Steel in Norfolk....
  • EPA turning regulatory eyes to natural gas, expert says

    02/04/2015 5:30:06 AM PST · by george76 · 22 replies
    Mississippi Watchdog ^ | February 4, 2015 | Steve Wilson
    A former Environmental Protection Agency regulator warns that while the Obama administration now has coal in its crosshairs, natural gas is next in line. David Schnare cites a proposed rule on methane emissions as one of the ways President Obama and the EPA will clamp down on natural gas. The 33-year EPA veteran, who once sued utilities for coal-fired plants that didn’t meet Clean Air Act standards, is director of the Center of Energy and Environmental Stewardship at the Thomas Jefferson Institute for Public Policy. Schnare said the EPA — as part of its “Clean Power Plan” rule that would...
  • Energizing an energy policy

    02/03/2015 7:55:16 PM PST · by Tolerance Sucks Rocks · 3 replies
    The Washington Times ^ | February 2, 2015 | Ed Fuelner
    If you’re like most Americans, you’re enjoying the fact that it costs a lot less to fill up your car’s gas tank these days. If you’re a fan of big government, you may feel a bit ambivalent, though. Why? Because one of the biggest drivers behind the drop in gas prices is the rise in directional drilling and hydraulic fracturing (“fracking”) here at home. While the government is busy micromanaging the energy industry — trying to saddle it with more regulations while showering favors on so-called “green” companies — the free market is showing how to actually get things done....
  • Deliveries of liquefied natural gas take edge off region’s supply gap

    02/03/2015 5:57:35 AM PST · by thackney · 5 replies
    Portland Herald Press ^ | February 1, 2015 | TUX TURKEL
    A tanker offloaded enough liquefied natural gas at Boston Harbor last week to heat 30,000 homes for a year, bolstering New England’s tight pipeline capacity just as a new wave of below-average temperatures threatens to strain energy supplies. But some advocates say this strategic slug of LNG during the coldest days of the winter can do more: It may help lower wholesale power prices from Connecticut to Maine, helping to hold down the cost of electricity for homeowners and businesses. That’s a debatable claim, but it highlights the intensifying dispute over whether New England power customers should spend billions of...
  • Vermont just replaced its only only nuclear reactor with fossil fuels obtained from fracking

    02/02/2015 3:04:53 PM PST · by grundle · 26 replies
    wordpress ^ | February 1, 2015 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Vermont just replaced its only only nuclear reactor (which had accounted for 71.8% of the state’s electricity production) with fossil fuels obtained from fracking For the past 42 years, Vermont’s only nuclear power plant was responsible for 71.8% of the state’s electricity production. This huge amount of electricity was generated by a single nuclear reactor.Vermont has just shut down this reactor.The replacement energy source for this shut down reactor is shale gas, a fossil fuel whose combustion causes global warming, and which is obtained from fracking.And all this time, I had thought that liberals in Vermont...
  • Feds To Regulate Fake Fireplaces To Stop Global Warming

    01/31/2015 11:14:52 AM PST · by Tolerance Sucks Rocks · 88 replies
    The Daily Caller ^ | January 30, 2015 | Michael Bastasch
    Better go out and buy a gas fireplace and stove soon before federal regulations make them more expensive. Federal officials are looking to regulate the energy usage of fake fireplaces as part of the Obama administration’s effort to fight global warming.The Energy Department has proposed new regulations that would mandate that “gas-fired hearth products” like decorative fireplaces and stoves be more energy efficient and produce fewer carbon dioxide emissions. DOE says its rule would save $165 over the lifespan of the average hearth and reduce carbon dioxide emissions by 11.1 million metric tons through 2030.The major change DOE demands is...
  • Pennsylvania reinstates drilling moratorium

    01/30/2015 11:05:46 AM PST · by Berlin_Freeper · 27 replies
    upi.com ^ | Jan. 30, 2015 | Daniel J. Graeber
    A decision to ban oil and gas drilling on state land in Pennsylvania was met with praise and criticism, with an industry leader describing it as a "lose-lose." Louis D'Amico, president and executive director of the Pennsylvania Independent Oil & Gas Association, said the moratorium struck a blow against an industry that's already returned more than $700 million in revenue to the state in the last seven years. "This is a lose-lose for Pennsylvania's taxpayers and energy consumers," he said in a statement Thursday.
  • Dozens Recovering from Mexico City Hospital Blast

    01/30/2015 6:28:16 AM PST · by Citizen Zed · 6 replies
    cbn ^ | 1-30-2015
    More than 70 victims are recovering from their injuries after a massive explosion destroyed most of a maternity hospital in Mexico City Thursday. At least one adult and two babies were killed, and several more victims were left in critical condition due to the disaster caused by a powerful gas explosion. The blast collapsed about three-fourths of the hospital, and firefighters and emergency crews raced through rubble as nurses and moms carried crying infants from the wreckage. Operation Blessing was on the scene of the tragedy within moments to offer aid. An Operation Blessing worker lives in the neighborhood, and...
  • Contributions of Horizontal Drilling and Hydraulic Fracturing to the USA Economy

    01/30/2015 5:37:01 AM PST · by thackney · 1 replies
    Oil Pro ^ | 1-29-2015 | Richard Goodwin
    Horizontal Drilling and Hydraulic Fracturing, represent technology developed in the 1980’s, are responsible for extracting Shale Gas and Shale Oil [Unconventional Liquid Hydrocarbons] from previously non-productive shale formations about one mile below the surface. As this technology was applied throughout the USA environmental upsets occurred (e.g. well water contamination in Weis County TX and Methane leaks in Dimrock PA. Recent peer review studies [Cornel, Stanford, Duke, Texas University, Penn State University and Ohio State University] have shown that these incidents could have been avoided by maintaining proper well integrity. State regulatory agencies now require adherence to industry standards, to ensure...
  • Foreign Firm Funding U.S. Green Groups Tied to State-Owned Russian Oil Company

    01/27/2015 7:59:35 AM PST · by george76 · 29 replies
    Washington Free Beacon ^ | January 27, 2015 | Lachlan Markay
    Executives at a Bermudan firm funneling money to U.S. environmentalists run investment funds with Russian tycoons. A shadowy Bermudan company that has funneled tens of millions of dollars to anti-fracking environmentalist groups in the United States is run by executives with deep ties to Russian oil interests and offshore money laundering schemes involving members of President Vladimir Putin’s inner circle. One of those executives, Nicholas Hoskins, is a director at a hedge fund management firm that has invested heavily in Russian oil and gas. He is also senior counsel at the Bermudan law firm Wakefield Quin and the vice president...
  • Sasol delays $14B gas-to-liquids plant near Lake Charles during oil price slump

    01/28/2015 9:38:39 AM PST · by justlittleoleme · 8 replies
    NOLA.com | The Times-Picayune ^ | January 28, 2015 at 8:59 AM | Katherine Sayre,
    South African petrochemical company Sasol is delaying a decision on whether to move forward with a proposed $14 billion gas-to-liquids facility outside of Lake Charles, the company said Wednesday (Jan. 28). Sasol said the plans are being put on hold as the company saves cash in response to falling oil prices. The gas-to-liquids facility is part of a $21 billion planned complex in Westlake, one of the largest foreign investments in Louisiana history. "Albeit at a much slower pace, we will continue to progress the U.S. GTL facility," Sasol president and CEO David Constable said in a news release. "This...
  • Oil, Gas Salary Adjustments Amid Oil Price Decline

    01/25/2015 8:12:38 AM PST · by thackney · 18 replies
    Rig Zone ^ | January 23, 2015 | Gene Lockard
    As many energy industry companies revise their capital expenditures downward for 2015 amid the steep drop in crude oil values, they are making a variety of decisions with regard to worker compensation, according to Aon Hewitt, a global human resource company that tracks corporate performance, reward and talent. The slide in crude oil prices picked up speed late in 2014, about the time that financial decisions for 2015 were being made. As prices continued to dip, many companies within the industry revisited the budgeting process early in the new year in light of the current reality of sub-$50/barrel crude oil....
  • EPA Putting Electricity Grid At Risk

    01/23/2015 11:58:15 AM PST · by Tolerance Sucks Rocks · 15 replies
    The Daily Caller ^ | January 22, 2015 | Mike Duncan
    When the temperature dips below freezing, reliable electricity becomes more than a matter of convenience but a matter of life and death. Unfortunately, the reliability of our electric grid is at-risk due to EPA regulations that are shutting down America’s coal plants.Existing EPA regulations already have led to the scheduled shutdown of nearly 20 percent of the U.S. coal fleet. EPA’s newest carbon regulations being finalized this summer will lead to even more shutdowns. With coal responsible for generating nearly 40 percent of America’s electricity, these shutdowns will further strain our nation’s electricity grid and could leave many Americans in...
  • Range Resources cuts spending plan amid low prices

    01/19/2015 5:16:48 AM PST · by thackney · 4 replies
    TribLIVE.com ^ | Jan. 15, 2015 | Tribune-Review
    Pennsylvania's most prolific shale gas driller dialed back 2015 spending plans Thursday because of low natural gas prices, following a general belt-tightening among energy companies across the country. Fort Worth-based Range Resources Corp., which has a regional headquarters in Cecil, dropped its capital expenditure plan by a third to $870 million from $1.3 billion. That initial figure was 18 percent lower than its 2014 plan. The company plans to spend nearly all that money in developing Marcellus shale wells and still plans to increase gas production by 20 percent over this year. “The time and effort that Range spent in...
  • Putin Cuts Off Gas Supply To Six European Countries Without Warning

    01/18/2015 2:50:54 PM PST · by dila813 · 105 replies
    Forbes ^ | 1/18/2015 @ 4:03PM | Paul Gregory
    On January 14, Vladimir Putin ordered Russia’s natural gas monopoly, Gazprom, to cut back by 60% the natural gas delivered to Europe through Ukraine. His ostensible reason: Ukraine was illegally siphoning off gas for its own use—a charge Ukraine denies. Overall Europe depends on Russia for 30% of its gas supplies, and some 80% of Europe’s Russian natural gas comes via Ukraine. Putin’s order would leave six countries in eastern and southeastern Europe totally without gas.
  • API's Gerard to President Obama: Follow Facts and Science, Not Politics

    01/16/2015 4:56:32 AM PST · by thackney · 6 replies
    Rig Zone ^ | January 15, 2015 | Gene Lockard
    Ahead of President Obama’s upcoming State of the Union (SOTU) address, American Petroleum Institute (API) President and CEO Jack Gerard discussed ways for the president to take a leadership position on the oil and gas industry in the United States. The energy industry has gone from scarcity in the 20th century to abundance early in the 21st century, generating billions in tax revenue, creating millions of new jobs and providing a boost to manufacturing, Gerard said, thus necessitating a new way of thinking about energy. The change also offers the country an opportunity to achieve a level of energy security...
  • Enjoying cheaper gas? Don’t worry, EPA is about to cause it to go up again

    01/15/2015 8:39:14 PM PST · by SeekAndFind · 28 replies
    Hotair ^ | 01/15/2015 | Bruce McQuain
    Yes friends, never let it be said that this administration isn’t beholden to special interests to the detriment of the middle class.The oil shale boom has helped create a surplus of oil that has entered the market and driven prices down to under $2 a gallon. It is an economic boon to hard pressed families and businesses who use a lot of fuel. It is also a testament to how well markets work.And that’s why government is about to intrude in that market and jack the prices back up. This time under guise of your out-of-control EPA: In spite...
  • Russia Is Losing Control Over The European Gas Market

    01/15/2015 3:21:25 AM PST · by elhombrelibre · 5 replies
    Reuters ^ | 14 Jan 15 | Elena Holodny
    Oil isn't Russia's only problem. The energy exporter is losing its dominance over the European gas market. In the past there were two factors that kept Russia as the major gas powerhouse: European policies and cold winters. But both of those things have changed — and Russia is starting to explore non-Western countries.
  • Shell scraps plans for multi-billion dollar petrochemical plant

    01/14/2015 10:12:36 AM PST · by thackney · 3 replies
    Fuel Fix ^ | January 14, 2015 | Ryan Holeywell
    Royal Dutch Shell won’t move forward with plans for a new petrochemical plant in Qatar, the company announced Wednesday, citing the “economic climate” facing the energy sector today. The project, dubbed Al Karaana, had been in the works for more than three years. It would have been a joint venture between Shell, which had a 20 percent stake in the project, and state-owned Qatar Petroleum, which had an 80 percent stake. Shell said in a statement that it decided not to move forward with Al Karaana after receiving bids from engineering and construction firms that ”showed high capital costs, rendering...
  • Obama targets oil and gas industry, demands massive reduction in methane emissions

    01/14/2015 7:34:49 AM PST · by Jan_Sobieski · 55 replies
    The Washington Times ^ | 1/14/2015 | Ben Wolfgang
    Taking direct aim at the oil-and-gas industry, President Obama on Wednesday put forth long-awaited regulations on methane emissions, setting an ambitious goal of reducing those emissions by 45 percent over the next decade. The move comes just days before the State of the Union address and underscores that, in the final two years of presidency, Mr. Obama is looking to cement his legacy on climate-change and environmental issues...
  • Obama Is Said to Be Planning New Rules on Oil and Gas Industry’s Methane Emissions

    01/14/2015 5:15:28 AM PST · by Citizen Zed · 29 replies
    ny times ^ | 1-13-2015 | CORAL DAVENPORT
    In President Obama’s latest move using executive authority to tackle climate change, administration officials will announce plans this week to impose new regulations on the oil and gas industry’s emissions of methane, a powerful greenhouse gas, according to a person familiar with Mr. Obama’s plans. The administration’s goal is to cut methane emissions from oil and gas production by up to 45 percent by 2025 from the levels recorded in 2012. The Environmental Protection Agency will issue the proposed regulations this summer, and final regulations by 2016, according to the person, who spoke on the condition of anonymity because the...
  • Environmentalists are Wrong about Port Ambrose LNG

    01/13/2015 5:16:02 AM PST · by thackney · 5 replies
    The Energy Collective ^ | January 13, 2015 | Edward Dodge
    The proposed Port Ambrose deepwater LNG terminal near New York City has been denounced by environmentalists as a dirty and dangerous export terminal in disguise. The reality is that LNG is the safest and cleanest fuel available and natural gas is critical in efforts to eliminate air pollution and save lives in New York City. Protesters showed up at a public hearing January 7 on Long Island to encourage Governor Cuomo to veto the proposal for the terminal. The Port Ambrose LNG terminal should be appreciated by environmentalists as a technological marvel that helps provide much needed seasonal supplies of...
  • Natural Gas Market Is Ice Cold

    01/09/2015 6:13:56 AM PST · by thackney · 33 replies
    Wall Street Journal ^ | Jan. 8, 2015 | TIMOTHY PUKO
    Furnaces from Minnesota to Maine are running full-blast as frigid temperatures descend from the Arctic. But the natural-gas market is still ice cold. Prices for the fuel, used to heat half of U.S. homes, hit a more-than two-year low this week and are down 35% since mid-November. The arrival of freezing weather across most of the country hasn’t revived the market. Normally, plunging temperatures are a cue for traders to make bullish bets because the resulting spike in demand can deplete natural-gas supplies. Last February, prices jumped by more than 30% in a matter of days during one particularly severe...
  • Cowen: Global Oil and Gas Exploration Spending to Slide 17%

    01/08/2015 5:21:57 AM PST · by thackney · 10 replies
    Rig Zone ^ | January 08, 2015 | Reuters
    The world's oil and gas exploration companies are expected to cut capital expenditures 17 percent this year as a deep slump in crude oil prices takes a toll on budgets... The survey, based on an average oil price of $70 per barrel, estimates that global exploration and production expenditures will slide 17 percent to $571 billion. If oil prices average $60 per barrel, spending should drop by 30 percent to 35 percent, according to the survey of 476 oil companies. ...under $50 per barrel on Wednesday... North American spending is forecast to drop by 22 percent...
  • Outlook 2015: Q and A with oilpatch veteran Jim Gray

    01/02/2015 8:32:32 AM PST · by thackney · 10 replies
    Calgary Herald ^ | January 1, 2015 | Deborah Yedlin
    With oil prices sliding downward, Jim Gray — a veteran of Alberta’s energy business — provides perspective. 1. There has been a lot of gloom and doom over the oil price slide. What do you make of the 50 per cent drop in the price of oil since June? There are many precedents for a 50 per cent slide in oil prices. Just since 1983, there have been four principal slides. When you look at the history of oil prices since 1983, you’ll see the rate of recovery is tied to how quickly prices fell. In 1986, prices dropped between...