Keyword: naturalgas

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  • Police kill man reportedly seen shooting at gas pipeline [Citrus County, FL]

    02/26/2017 12:32:32 PM PST · by Da Bilge Troll · 34 replies
    CBS News ^ | Feb 26, 2017 | Staff writer
    Police in Citrus County, Florida said Sunday that a man reportedly seen shooting at a natural gas pipeline had been fatally shot by officers after a vehicle chase. Citrus County Sheriff Mike Prendergast was quoted in a statement on his officeís Facebook page as saying no police were injured. He said officers from Citrus County, Marion County and the Florida Highway Patrol were involved. The chase began in Marion County and ended with a ďcrashĒ near Floral City in Citrus County, according to the statement. ďThis is where the suspect engaged the deputies and was subsequently shot and killed,Ē it...
  • Obama admin blocks seismic surveys in Atlantic Ocean [for natural gas drilling]

    01/06/2017 9:21:45 AM PST · by Olog-hai · 16 replies
    Associated Press ^ | Jan 6, 2017 11:58 AM EST | Matthew Daly
    The Obama administration is denying permits for energy companies to conduct seismic surveys in the Atlantic Ocean to map potential drilling sites for oil and natural gas. The Interior Department said it denied six pending applications in part because Obama has blocked Atlantic drilling under a five-year offshore drilling plan finalized late last year. Environmental groups and some East Coast lawmakers oppose the surveys, saying that loud sounds from seismic air guns could hurt marine life. Ö
  • Trump Should Quickly Rescind Obamaís Drilling Ban

    12/22/2016 2:49:12 PM PST · by jazusamo · 29 replies
    PJ Media ^ | December 22, 2016 | Andrew C. McCarthy
    In his enviro-extremism, President Obama is attempting to tie President-elect Trumpís hands by blocking vast swaths of the Arctic Ocean and stretches of the Atlantic from oil and natural-gas drilling. The gambit, announced by the administration on Tuesday, is part of an eleventh-hour wave by which Obama is flooding the regulatory zone: Promulgating so many rules Ė of the unpopular, hard-left variety that Democrats dare not unveil before Election Days Ė that he hopes the Trump administration will find it too cumbersome to undo all of them. The incoming president should not let his predecessor get away with it. Obamaís...
  • Trumpís Path to Mount Rushmore

    11/30/2016 11:40:21 AM PST · by 2ndDivisionVet · 24 replies
    The American Interest ^ | November 27, 2016 | Walter Russell Mead
    Smart energy policy could give the next President his best prospect for spurring growth in manufacturing jobsóand thus delivering on the promises his voters think matter most. Pundits are terrible at predicting presidencies; remember the hymns to the greatness of the Second Lincoln, the New Roosevelt, and the Democratic Reagan that wafted to the heavens during the Obama transition. And the pundits were even worse at predicting Trumpís fate during the election; how many times did they predict his demise? But now, as convinced as ever of his incompetence and their infallibility, the punditocracy is telling us why the Trump...
  • President Trump: This Is How To Bring Back 1 Million Energy Jobs

    11/11/2016 8:09:39 AM PST · by bananaman22 · 11 replies ^ | 11-11-2016 | Dan
    Dear President-Elect Trump, Thereís work to be done. And I know youíre up for a challenge. In fact, Iím now sure of it. So let me lay out a policy position that I am truly hoping you will adopt as your own. Iím talking about natural gas as a transportation fuel: cheap, clean, abundant natural gas. And Iím talking about U.S. energy independence, balanced budgets, jobs, trade and the environment. We use natural gas for power generation and as a heating fuel but thatís an old story for a new reality. Fracking has unlocked a phenomenal amount of gas in...
  • Why $25 NatGas Is Possible This Winter

    11/08/2016 3:09:41 PM PST · by bananaman22 · 24 replies ^ | 11-08-2016 | Mike
    For families using natural gas in their homes, this could be an expensive winter... or a cold one without heat. New England consumes the most liquid natural gas (LNGs) out of anywhere in North America primarily due to high population density and colder climate. Historically, the price of LNG rises in correlation to snow storms. Because of bottlenecks in the pipelines for LNG, supply is limited in the North East and a demand surge can cause a spike in price. In 2015, there were only 6 million homes that use traditional heating oil in New England, whereas nearly half of...
  • Chevron Phillips' $6 billion Houston expansion nears completion

    10/20/2016 10:12:00 PM PDT · by Tolerance Sucks Rocks · 2 replies
    The Houston Chronicle ^ | October 10, 2016 | Jordan Blum
    The dozen or so cranes visible from Interstate 10 in Baytown will only remain for a few more months as Chevron Phillips Chemical's $6 billion petrochemical expansion moves toward completion. Chevron Phillips' complex is more than 80 percent complete, although it won't be fully operational for almost another year. The project involves a massive ethane cracker - on a plot the size of 44 football fields - that will separate a component of natural gas called ethane, which will provide the feedstock for some 1.5 million metric tons a year of ethylene, a common building block of plastics. Chevron Phillips,...
  • Hillary Corruption Led to Syria-Russia Crisis [aw!m vanity]

    10/15/2016 5:01:16 AM PDT · by Arthur Wildfire! March · 34 replies
    Big bold Drudge lines [*h*] ... CIA PLANS CYBER STRIKE ON RUSSIA 'DEFCON WARNING UPGRADE' MOSCOW READY FOR WAR Obama wants to not only wag-the-dog, but who knows? A cyber-war could disrupt internet communications -- time to blind Trump supporters. And it all boils down to their bribe money to take out the Syrian government. Obama and Hillary want you to think that Bashar Assad is the very devil. In many ways he is. Worst of all is his defense of Christians and Jews so far as the Establishment thinks. ISIS is cool -- they enslave Christians and Jews for...
  • Alabama pipeline leak: What we know so far about the spill, gas shortages and more

    09/18/2016 5:43:49 PM PDT · by servo1969 · 55 replies ^ | 9-18-2016 | Dennis Pillion
    On the morning of Sept. 9, an inspector with the Alabama Surface Mining Commission was performing a routine monthly check of an old coal mine in Shelby County when he noticed "a strong odor of gasoline" as well as a sheen on the surface of one of the retention ponds. The gasoline he was smelling came from Colonial Pipeline's Line 1, an underground pipeline three feet in diameter that normally pushes 1.3 million barrels of gasoline per day from refineries in Houston to distribution centers across the Southeast and along the eastern seaboard. That 36-inch line, built in 1963, has...
  • Researchers identify possible catalyst for converting methane to methanol at room temperature

    08/18/2016 10:55:22 AM PDT · by Red Badger · 20 replies ^ | August 18, 2016 | by Bob Yirka
    (¬óA team of researchers from Belgium and the U.S. has identified the active site of an iron-containing catalyst that has raised hopes for designing a practically useful catalyst that might make converting methane to methanol a possibility. In their paper published in the journal Nature, the researchers describe their efforts, what they discovered and why they believe their findings may lead to a practical way to convert methane to a more efficient energy resource. Jay Labinger, with the California Institute of Technology offers a News & Views piece outlining the work done by the team in the same journal issue....
  • How Brexit Will Affect Paris Global Warming Treaty

    08/17/2016 6:02:11 AM PDT · by george76 · 15 replies
    Daily Signal ^ | June 28, 2016 | Nicolas Loris
    The fate of the European Unionís global warming commitments negotiated as part of the Paris Protocol may be in jeopardy as result of Brexit. The U.S. on the other hand, should take a page out of the U.K.ís playbook and not only withdraw from the Paris agreement, but also withdraw participation from the United Nations Framework Convention on Climate Change altogether. ... countries made individual commitments to reduce carbon dioxide and other greenhouse gas emissions, largely centered on shifting away from affordable natural resources such as coal, oil, and natural gas, and toward more expensive, intermittent, subsidy-dependent renewables. ... The...
  • Shale Production Has Reduced Energy Prices To Levels Where Saudi Arabia Can't Fund Its Welfare State

    08/04/2016 12:58:31 AM PDT · by Kaslin · 98 replies ^ | August 3, 2016 | Matt Vespa
    Saudi Arabia knew that North American shale production could potentially torpedo their hold on the energy market via oil. So, they decided to trounce the natural gas market by opening the floodgates with petroleum. It didn’t work. The Telegraph now reports that shale production has cut prices so low that they can produce at prices that are lower that what’s required to keep Saudi Arabia’s socioeconomic fabric healthy: Opec's worst fears are coming true. Twenty months after Saudi Arabia took the fateful decision to flood world markets with oil, it has still failed to break the back of the US shale...
  • Marylandís Coming Fracking Showdown

    07/27/2016 8:26:26 PM PDT · by Tolerance Sucks Rocks · 11 replies
    MC GOP ^ | July 26, 2016 | Mark Uncapher
    The clock is counting down toward an important decision for Marylandís economic future, namely whether to allow hydraulic fracturing, commonly known as fracking, to drill for natural gas in the state. Over a year ago, legislation that blocked fracking for another two years became law without Gov. Larry Hoganís signature. That law barred the state from issuing drilling permits until October 2017 and required the Department of the Environment to adopt new regulations by October 2016. The passage of this law effectively delayed any decision on fracking until next year. To recap: the Marcellus Shale is a geological formation found...
  • Colorado Has 40 Times More Natural Gas Than Once Believed

    06/09/2016 1:16:16 PM PDT · by smokingfrog · 35 replies
    Daily Caller ^ | 6-9-16 | Chris White
    U.S. Geological Survey (USGS) officials said Wednesday that western Colorado has upwards of 40 times more natural gas than previously believed, making it the second largest natural gas producing formation in the U.S. The Mancos Shale formation in Coloradoís Piceance Basin, located in the western section of Colorado, nestles nearly 70 trillion (66.3 trillion) cubic feet of gas. This marks a massive uptick from the 1.6 trillion cubic feet estimated in 2003, research shows. A trillion cubic feet of natural gas, according to the U.S. Energy Department, is enough to heat 15 million homes for a year ó 66. 3...
  • Natgas shortages threaten Southern California summer power reliability

    05/20/2016 8:03:21 PM PDT · by Lorianne · 11 replies
    Reuters ^ | 18 May 2016
    The operator of the California power grid said on Wednesday that natural gas shortages related to a leak at the giant Aliso Canyon storage facility will threaten electric reliability in the southern part of the state this summer. The rest of the state, however, should have enough electricity to meet summer air conditioning demand, the California ISO, the grid operator, said in a release. In April, several California agencies prepared a report on potential power shortages related to last year's gas leak at the Aliso Canyon storage facility in the Los Angeles area. That report found significant risks to electricity...
  • The Leftís Jihad against American energy

    05/18/2016 5:20:12 AM PDT · by Kaslin · 4 replies ^ | May 18, 2016 | Ken Blackwell
    This election season has created an unprecedented alliance between the environmental Left and the anti-free market movement. The result is a well-funded juggernaut adept at conducting coordinated and sophisticated assaults on American businesses while attempting to influence crucial elections. Their goals are nothing short of shuttering our American manufacturing industry, halting the production of affordable energy and placing a ruling clique of radicals in office.One such tactic focuses on intimidating universities and other institutions into divesting their financial holdings of fossil fuel investments. Activists behind this campaign talk candidly about how they hope to ďrevoke the social licenseĒ of energy...
  • The Age of Cheap Oil and Natural Gas Is Just Beginning

    05/09/2016 11:14:20 AM PDT · by samtheman · 26 replies ^ | May 3, 2016 | Marian Radetzki, Roberto F. Aguilera
    But we believe the period of excessively high oil prices has come to an end. The international spread of two revolutions will assure much ampler oil supplies, and will deliver prices far below the highs that reigned between the end of 2010 and mid-2014.
  • Mass. Sen. President Rosenberg to Berkshire Gas: Pipeline is dead; lift the moratorium

    04/24/2016 10:30:24 AM PDT · by matt04 · 23 replies
    Massachusetts Senate President Stanley Rosenberg on Wednesday called upon Berkshire Gas to lift its moratorium on new and expanded natural gas service in the region ó but a spokesman for Berkshire's parent company, the publicly-traded Avangrid, told The Republican that the moratorium on new hookups would stay in place without a "permanent solution" for additional natural gas capacity in western Massachusetts. ... Berkshire Gas had hoped to purchase capacity on the line. Berkshire's parent company, Avangrid, had also signed on as an investor in the $5-8 billion Kinder Morgan pipeline. Berkshire more than a year ago imposed a moratorium on...
  • How much natural gas does the United States have, and how long will it last? (84 years)

    04/17/2016 8:42:42 PM PDT · by Signalman · 42 replies
    Dept. of Energy ^ | 11/18/2015 | Dept of Energy
    How much natural gas does the United States have, and how long will it last? The U.S. Energy Information Administration estimates that as of January 1, 2013 there were about 2,276 trillion cubic feet (Tcf) of technically recoverable resources of dry natural gas in the United States. At the rate of U.S. dry natural gas consumption in 2013 of about 27 Tcf per year, the United States has enough natural gas to last about 84 years. The actual number of years will depend on the amount of natural gas consumed each year, natural gas imports and exports, and additions to...
  • MIT Report: Carbon Tax Necessary to Break Fossil Fuel Dependence

    03/03/2016 3:06:18 PM PST · by bananaman22 · 34 replies ^ | 03-03-2016 | MIT
    Renewable energy advocates like to point out that the cost of renewable fuels, like solar power, have dropped substantially in the last few years. The cost of solar power for instance has fallen by more than two-thirds since 2009. Yet for all the excitement about renewable power, the reality is that the entire energy sector has essentially been in a state of deflation for the last decade. The notable drop in oil prices over the last two years aside, costs of producing oil both in the U.S. and in many parts of the world have fallen dramatically. The phase out...
  • S&P takes aim at energy companies

    02/03/2016 5:21:05 AM PST · by thackney
    Fuel Fix ^ | February 2, 2016 | Robert Grattan
    Standard and Poor's said Tuesday it had cut or was considering cutting the investment-grade credit ratings at 20 oil and gas giants, including Chevron Corp. and Exxon Mobil Corp. The ratings actions, which spanned integrated and independent producers, are an acknowledgement that $30 oil could shake the credit worthiness of even the largest oil and gas companies. Chevron's credit rating was cut one notch from AA to AA-. Exxon Mobil, which remains at the agency's highest credit rating of AAA, was put on notice its long-term credit rating was up for review. "We anticipate Chevron will significantly outspend internally generated...
  • PSEG Plans $1.6B in New Gas-Fired Projects

    02/03/2016 5:02:37 AM PST · by thackney · 5 replies
    Power Engineering ^ | 01/29/2016 | Power Engineering
    Public Service Enterprise Group Inc. (PSEG) is planning a $1.6 billion investment in new gas-fired projects in the coming years. PSEG Power President and COO William Levis tells Reuters the company is taking advantage of the "low gas-price environment" by building combined-cycle plants in Maryland and New Jersey. The company is also looking into building a new 500-MW gas-fired facility by summer 2019 at the site of its 383-MW coal plant in Bridgeport, Connecticut - the state's only coal facility - which PSEG has agreed to close in 2021.
  • US oil & gas sector: things to get worse before they get better

    02/02/2016 5:02:46 AM PST · by thackney · 3 replies
    Fuel Fix ^ | February 1, 2016 | Matt Smith
    Today is Harry Styles' 22nd birthday, and accordingly the crude complex is heading in one direction. (Down). We burst into February today, and get hit by a wave of global manufacturing numbers, as well as the ongoing debate re 'will-they-won't-they' cut production. (they won't). China kicked things off overnight, setting a cautious tone with its worst official manufacturing print since August 2012. The Caixin manufacturing release also showed ongoing contraction from the sector, but in contrast was better than consensus. Eurozone manufacturing was in line with consensus, boosted by Germany and Spain, held back by Italy and France. Japan was...
  • Shell transitioning Houston truck fleet from diesel to LNG

    01/28/2016 12:48:34 PM PST · by thackney · 12 replies
    Fuel Fix ^ | January 28, 2016 | Jordan Blum
    Royal Dutch Shell is switching its trucking fleet to more liquefied natural gas-fueled vehicles in Houston and Louisiana as more companies increasingly move away from dirtier diesel fuel. The use of LNG and compressed natural gas -- another new CNG fueling station opened Thursday in Houston -- in commercial vehicles has rapidly expanded because of the nation's cheap and bountiful supply of natural gas. Shell said Thursday it partnered with Miami-based Ryder transportation company for 15 new, heavy-duty LNG trucks to support its oil and gas logistics operations in Houston and Lafayette, Louisiana. The 15 new trucks will replace diesel-fueled...
  • New pipeline projects increase Northeast natural gas takeaway capacity

    01/28/2016 9:44:21 AM PST · by thackney · 12 replies
    Energy Information Administration ^ | JANUARY 28, 2016 | Energy Information Administration
    A number of recently completed and upcoming natural gas infrastructure projects are expected to increase the reach of natural gas produced in the Marcellus and Utica regions of the Northeastern United States (see map). These projects are intended to transport natural gas from production centers to consuming markets or export terminals. Over the past several years, natural gas production in the Marcellus and Utica areas has grown significantly: their combined growth of 12 billion cubic feet per day since 2011 accounts for 89% of the United States's total growth in natural gas production. The Marcellus and Utica shale plays are...
  • Iran Seeks Rapid Reboot for Natural Gas Exports {Europe within two years}

    01/27/2016 6:36:03 AM PST · by thackney · 1 replies
    Wall Street Journal ^ | Jan. 26, 2016 | BENOIT FAUCON
    Iran is pushing to find new ways to extract and export its vast natural-gas reserves, including developing facilities to liquefy the commodity and ship it to Europe in two years, now that Western sanctions have lifted, according to a top Iranian official. Iran holds the world's largest reserves of natural gas, but has long lacked the export infrastructure of competitors such Russia and Qatar. They have networks of international pipelines as well as liquefied-natural-gas facilities that enable them to export gas by ship. Tehran is exploring several options to help the country "join the international LNG club," said Alireza Kameli,...
  • Spread between Henry Hub, Marcellus natural gas prices narrows as pipeline capacity grows

    01/27/2016 5:43:23 AM PST · by thackney · 1 replies
    Energy Information Administration ^ | JANUARY 27, 2016 | Energy Information Administration
    Natural gas spot prices around the United States are often compared to prices at the Henry Hub in Louisiana. At trading points in and around the Marcellus and Utica shale plays in Pennsylvania, West Virginia, and Ohio, natural gas prices consistently trade below the Henry Hub national benchmark price. However, the difference between these pricing points and the Henry Hub has narrowed in recent months as new pipeline projects have come online. Most of the natural gas produced in the region is consumed in other areas of the country. With limited infrastructure to deliver natural gas to consumers, the Marcellus...
  • EIA: Natural gas prices could rise as production finally slows

    01/26/2016 7:58:19 AM PST · by thackney · 2 replies
    Fuel Fix ^ | January 25, 2016 | jamesosborne
    A historic low in natural gas prices should ease over the next two years, according to a forecast released Monday by the U.S. Energy Information Administration. Following a December average of $1.93 for the Henry Hub benchmark, federal analysts predict gas prices will average $2.65 per MMBtu this year and $3.22 in 2017. Oil and gas drillers across the United States have struggled under collapsing commodity prices, driven in part by a boom in domestic shale drilling that has transformed the industry. But the U.S. gas surge is now beginning to taper off. This year U.S. production is only expected...
  • Forest Service rejects proposed route of Atlantic Coast Pipeline

    01/25/2016 10:15:38 AM PST · by thackney · 20 replies
    Richmond Times-Dispatch ^ | January 21, 2016 | MICHAEL MARTZ
    The U.S. Forest Service has rejected the latest proposed route of the Atlantic Coast Pipeline because of the 42-inch natural gas pipeline's potential damage to the habitat of sensitive animal species protected by two national forests in Virginia and West Virginia. In a letter to the Dominion-led pipeline company on Tuesday, the Forest Service said the proposed route is "inconsistent" with Forest Service plans and commitments to protect the habitats of the Cow Knob salamander, Cheat Mountain salamander and West Virginia northern flying squirrel, as well as the red spruce forest ecosystem in which they live. Consequently, the pipeline project...
  • Don't Thank Obama for Cheap Oil

    01/19/2016 10:45:42 AM PST · by Kaslin · 10 replies ^ | January 19, 2016 | Stephen Moore
    The big fall-off-your-chair moment during President Obama's State of the Union address came when he proclaimed: "We've cut our imports of foreign oil by nearly 60 percent and cut carbon pollution more than any other country on Earth. Gas under two bucks a gallon ain't bad, either." Sure, Mr. President. Take a bow for the smashing success of the very domestic oil and gas industry that you have tried to destroy. Even Obama couldn't carry this off. The smirk on his face as he sang the praises of the oil and gas industry was unmistakable. Right after Obama boasted...
  • The Jacki Daily Show LIVe at 2PM Pete Sessions, Article 5 discussion, and All things energy!

    01/17/2016 10:20:49 AM PST · by RaceBannon · 3 replies
    The Jacki Daily Show ^ | 1/17/2016 | The Jacki Daily Show
    The Jacki Daily Show starts at 2pm ET / 1CT on Glenn Beck's TheBlazeRadioNetwork Today! Congressman Pete Sessions, member of House GOP Leadership, gives us our energy update from Washington DC, including the outlook on natural gas exports. Then, Rob Henneke of TPPF talks about Texas Governor Abbott's new effort to unite the states to hold a Constitutional Convention, with nine proposed Constitutional amendments to return power back to the states. Then, energy economist Bud Weinstein of the Maguire Energy Institute talks about the geopolitics of oil exports. Listen at or on demand on iTunes, SoundCloud, or where...
  • Cheniere delays first Sabine Pass LNG export

    01/15/2016 5:43:37 AM PST · by thackney · 1 replies
    Fuel Fix ^ | January 14, 2016 | Robert Grattan
    Cheniere Energy has delayed the first export of liquefied natural gas from its Sabine Pass plant by about one month until late February or early March, the company announced Thursday. The shipment, which was originally secluded to depart near the end of January, is still slated to be the first cargo of liquefied gas to sail from the continental United States. While Cheniere remains ahead of its competitors, the international markets it's racing to serve have been roiled by a crush of liquefaction capacity due online in 2016 and sluggish demand for the fuel. A one-month delay isn't likely to...

    01/12/2016 5:47:42 AM PST · by thackney · 6 replies
    Platts ^ | -11 Jan 2016 | Platts
    he US moved one step closer to becoming a global natural gas exporter on Monday as the 160,000 cu m Energy Atlantic LNG carrier began its final approach to Cheniere Energy's Sabine Pass export facility, Platts trade flow software, cFlow showed Monday. While US LNG exports from Kenai, Alaska, began as early as 1969, Cheniere's newly minted export facility will be the first to send gas produced from the Lower-48 states to consumers across the globe. Much of the newly available US gas comes from hydraulic fracking that has lifted monthly production by more than 66% over the last decade...
  • US Shale Output To Fall 116,000 Bpd mo/mo In Feb.

    01/11/2016 1:52:00 PM PST · by thackney · 17 replies
    Rig Zone ^ | January 11, 2016 | Reuters
    U.S. shale oil production is expected to fall for a seventh month in a row in February, declining at about the same rate as the month before as drillers manage to eke out a few more barrels from each new well, U.S. data showed on Monday. Total output was set to decline by 116,000 bpd to 4.8 million bpd in February compared with January, a U.S. Energy Information Administration's (EIA) drilling productivity report said. Production was estimated to have fallen by about the same margin in January, despite some expectations that the decline rate would begin to quicken as companies...
  • Air Products contracts Technip to build $400 million Baytown plant

    01/11/2016 4:54:42 AM PST · by thackney · 12 replies
    Fuel Fix ^ | January 8, 2016 | Jordan Blum
    Air Products and Chemicals Inc. formally signed on Technip to engineer and build its $400 million hydrogen plant in Baytown, the companies announced Friday. Pennsylvania-based Air Products is planning for the world-scale steam methane reformer plant in Texas to produce 125 million cubic feet a day of hydrogen and carbon monoxide, much of which will ship through its Gulf Coast pipeline that runs from the Houston Ship Channel to New Orleans. Paris-based Technip touted its work with Air Products as the longest and best hydrogen alliance in the world supporting the oil and gas industry. Hydrogen is used in the...
  • Doctors Urge California Residents "Leave Now...While You Can" As Gas Leak Fears Grow

    01/08/2016 10:34:21 AM PST · by Perseverando · 50 replies
    Zero Hedge ^ | January 8, 2016 | Tyler Durden
    California Governor Jerry Brown finally declared a state of emergency on Wednesday, concerning the ongoing, currently unstoppable methane gas leak spewing from Aliso Canyon that has created a nightmare for residents of Porter Ranch. ‚ÄúI will tell you, this goes well beyond Porter Ranch. We‚Äôve had complaints from as far as Chatsworth, Northridge, and Granada Hills,‚ÄĚ emphasized Los Angeles City Councilman Mitchell Englander during a Porter Ranch town hall meeting on December 28. ‚ÄúApparently this plume of toxic chemicals and whatever it might be, doesn‚Äôt know zip codes [‚Ķ] This is the equivalent of the BP oil spill on land,...
  • Moody‚Äôs: 2016 likely to see more oil and gas defaults

    01/06/2016 5:30:49 AM PST · by thackney · 1 replies
    Fuel Fix ^ | January 5, 2016 | Robert Grattan
    Moody's Investor Service hiked its measure of economy-wide financial stress to the highest level since 2010 on Tuesday and warned that more defaults are coming among oil and gas companies this year. The debt rating agency raised its oil and gas liquidity stress index, a gauge of how easily companies can access capital markets, from 19.3 percent in November to 19.6 percent in December. A higher reading indicates companies are having a harder time raising money. For the wider economy, Moody's bumped the liquidity stress index up to 6.8 percent in December, up from 6.5 percent in November. The hike...
  • $1.2B bet on a dry hole along Louisiana coast led to ‚ÄėJim Bob‚Äô Moffett‚Äôs fallout at Freeport

    01/05/2016 1:24:36 PM PST · by thackney · 20 replies
    Baton Rouge Business Report ^ | DECEMBER 30, 2015 | DAILY REPORT STAFF
    Freeport-McMoRan Inc. co-founder James "Jim Bob" Moffett's last big gamble as head of the world's largest copper miner was a $1.2 billion wrong-way bet six miles beneath the Louisiana coastline. Bloomberg reports Moffett, a legendary wildcatter and geologist whose credits include the gigantic Grasberg copper deposit in Indonesia, is stepping down as chairman and director at Freeport as the minerals, oil and gas producer turns to cutbacks and cash preservation amid a deepening commodities meltdown. The 77-year-old Moffett in 2007 staked much of the company's future on an obscure cluster of gas-soaked rocks, hidden beneath coastal Louisiana oil fields, that...
  • Average annual natural gas spot price in 2015 was at lowest level since 1999

    01/05/2016 5:31:36 AM PST · by thackney · 1 replies
    Energy Information Administration ^ | JANUARY 5, 2016 | Energy Information Administration
    Natural gas spot prices in 2015 at the Henry Hub in Louisiana, a national benchmark, averaged $2.61 per million British thermal unit (MMBtu), the lowest annual average level since 1999. Daily prices fell below $2/MMBtu this year for the first time since 2012. Henry Hub spot prices began the year relatively low and fell throughout 2015, as production and storage inventories hit record levels and fourth-quarter temperatures were much warmer than normal. Natural gas prices at key regional trading hubs ended the year lower than their starting point. At northeastern locations, where natural gas transmission infrastructure is often constrained, prices...
  • Texas shale gas headed for Europe

    01/05/2016 5:19:37 AM PST · by thackney · 90 replies
    WFAA ^ | January 4, 2016 | Jack Beavers
    Texas shale gas is setting sail for Europe. Cheniere Energy has begun liquefying natural gas at its Sabine Pass terminal on the Texas-Louisiana border. The gas will be loaded onto a ship scheduled to travel overseas later this month. That's welcome news for Texas and U.S. gas producers. A glut of shale gas has depressed prices in the domestic market. Slower growth in China and South Korea have clouded prospects for LNG shipments from Alaska to Asia. That leaves Europe, where demand for natural gas remains strong -- and prices are much higher. Getting the gas there is the challenge....
  • Prices for oil and natural gas commodities fell during 2015

    01/04/2016 7:34:50 AM PST · by thackney · 11 replies
    Energy Information Administration ^ | JANUARY 4, 2016 | Energy Information Administration
    The energy component of the widely followed S&P Goldman Sachs Commodity Index (GSCI) fell 41% from the start of 2015, a larger decline than the industrial metals, grains, and precious metals components, which declined 24%, 19%, and 11%, respectively, in 2015. Weakness in global economic growth contributed to the overall decline in commodity markets in 2015, but unique supply-side factors within certain commodity markets also affected prices. Each of the 16 commodities in the S&P GSCI Energy, Grains, Industrial Metals, and Precious Metals indices declined in 2015, with prices of some of the energy commodities falling more than 30%. Nickel,...
  • California gas company finds underground location of leaking well

    12/29/2015 7:10:03 AM PST · by Navy Patriot · 17 replies
    Fox News ^ | December 29, 2015 | Staff
    The location of an underground well pipe that has been leaking methane gas in a Los Angeles neighborhood has been pinpointed, Southern California Gas Co. officials said Sunday. The utility company said it had drilled down about 3,800 feet when it found the breached well's 7-inch pipe with a magnetic ranging tool that allows workers on the surface to locate small underground targets. They are drilling a relief well nearby that they will eventually connect to the leaking well so they can plug it with cement. The leak has forced thousands of people to leave their homes. "One of the...
  • The Scientific Consensus Has Been Dead-Wrong on Oil

    12/29/2015 5:27:30 AM PST · by Kaslin · 40 replies ^ | December 29, 2015 | Stephen Moore
    It would be hard to find anyone in all of America who has been more wrong on the American energy story than Barack Obama. Oil prices have fallen from $105 a barrel in the summer of 2014 to hovering at $35 a barrel today. That's a two-thirds reduction in the price, and the biggest factor is shale oil brought to you by fracking. In many areas of the country gas is now less than $2 a gallon, and it could fall further in the weeks ahead. The falling price means, of course, an expanded supply. But now listen to Obama,...
  • Natural Gas Could Be Key To An Israeli/Turkish Rapprochement

    12/28/2015 8:02:21 AM PST · by Marcus · 5 replies
    Capitalist Review ^ | December 28, 2015 | Mark R. Whittington
    The economic war being conducted by Russia against Turkey provides some opportunities for the United States if it chooses to take advantage of them. However, according to Al-Monitor, a website that covers all aspects of what is going on in the Middle East, Israel is already poised to make a diplomatic and trade breakthrough with Turkey. Israel has uncovered a great deal of proven natural gas reserves in its offshore Tamar and Leviathan fields. The Jewish state has enough gas to supply its own needs and have plenty left over for export, an astonishing turn of events, as Israel has...
  • America‚Äôs Top Shale Gas Basin in Decline

    12/23/2015 2:56:25 PM PST · by bananaman22 · 10 replies ^ | 23-12-2015 | Marcellus
    The natural gas drilling frenzy is grinding to a halt, as the industry struggles with excess supply. Natural gas prices have plunged to their lowest levels in more than a decade this month, dipping below $1.80 per million Btu (MMBtu). The shale gas revolution is an old story at this point, one that everyone is familiar with. But the revolution never really ended, even though the media moved on to focus on the tight oil boom. Natural gas production continued to rise over the past decade, reaching record heights in 2015. However, demand has not kept up, despite the rise...
  • Dresser-Rand plans to shutter plant, lay off 72 workers

    12/22/2015 6:05:51 AM PST · by thackney · 6 replies
    Fuel Fix ^ | December 21, 2015 | Rhiannon Meyers
    More Houston-area energy jobs are on the chopping block next year as Dresser-Rand announced plans to shutter a North Houston support facility and lay off 72 people who work there. The company said it will "cease operations at the facility" at 20120 E. Hardy Road, with the shutdown slated to finalize between Feb. 21 and March 5, Dresser-Rand said in a letter to the Texas Workforce Commission. Dresser-Rand, which makes turbo compressors, turbines, valves and other components for the energy industry, was acquired by German industrial conglomerate Siemens earlier this year. Like other companies that manufacture and maintain equipment for...
  • Natural Gas Exports Are Ramping Up - What Does It Mean For The Commodity?

    12/22/2015 5:24:00 AM PST · by thackney · 16 replies
    Seeking Alpha ^ | Dec. 21, 2015 | : Force Majeure
    Summary Flows On Cheniere Energy's Creole Trail natural gas pipeline have rapidly increased over the past two weeks, suggesting that the company is in the final stages of preparing its first. Despite natural gas exports being ballyhooed as the savior of the natural gas industry, their impact on supply/demand fundamentals in 2016 will be limited. Even as exports become a significant component of demand long-term, the evolving fundamentals of the international market that the U.S. is about to become a part of may limit viability. A trading strategy involving natural gas that takes into account both domestic and international natural...
  • A Russian Gas Embargo Against Turkey Could Be An Opportunity For The United States

    12/21/2015 12:55:28 PM PST · by Marcus · 10 replies
    Capitalist Review ^ | December 21, 2015 | Mark R. Whittington
    A recent op-ed in the Observer notes the progress of Russia’s economic war against Turkey in the wake of the Turkish shoot-down of a Russia jet fighter. The short version is that Russia is inflicting significant pain on Turkey. Russia has slowed down the construction of nuclear power plants that Turkey is relying on to provide electricity. The Russians have also stopped importing Turkish fruits and vegetables, a $4 billion hit to Turkey’s export revenues. Russia has also curtailed travel to Turkey by its citizens. All this may just be the opening shot in an economic campaign that could cripple...
  • Out of Gas: Turkey Is Losing Its Battle With Russia

    12/17/2015 11:56:45 AM PST · by sparklite2 · 26 replies
    Observer ^ | 12/10/15 | Micah Halpern
    Turkey relies on Russia for $20 billion of natural gas every year. If that flow is even slightly altered, even for a single day Turkey will grind to a halt. That natural gas engines Turkey's electric grid. Gas is next. Russia will start pulling it. They have already cancelled work on the underwater gas pipeline which, together with the nuclear electric plants, would eventually make Turkey more energy independent. Russia will get away with everything. And despite pressure that Turkey is trying to apply the real pressure will be placed by Russia on Turkey. No one is willing to step...
  • Natural Gas Sinks to 14-Year Low

    12/15/2015 6:06:53 AM PST · by thackney · 24 replies
    Wall Street Journal ^ | Dec 14, 2015 | TIMOTHY PUKO
    Natural-gas prices plunged to a 14-year low, as the warmest start to winter on record in the U.S. saps demand for the heating fuel and deals another blow to struggling energy companies. A weather pattern known as El Ni√Īo has pushed temperatures to records for this time of year across North America. The unseasonable warmth has cut consumption and raised concerns that the current gas supply glut will linger for years. Monday's 4.8% decline brings year-to-date losses to 34%, making natural gas the third-worst-performing commodity so far in 2015. "This level of inventories and a super-El Ni√Īo is unprecedented," said...