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Keyword: opec

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  • Red-faced Pluto Full of Surprises

    07/04/2015 6:56:24 PM PDT · by BenLurkin · 10 replies
    universetoday.com ^ | on July 4, 2015 | Bob King
    On Mars, iron oxide or rust colors the planet’s soil, while Pluto’s coloration is likely caused by hydrocarbon molecules called tholins that are formed when cosmic rays and solar ultraviolet light interact with methane in Pluto’s atmosphere and on its surface. Airborne tholins fall out of the atmosphere and coat the surface with a reddish gunk ... “Pluto’s reddish color has been known for decades, but New Horizons is now allowing us to correlate the color of different places on the surface with their geology and soon, with their compositions,” said New Horizons principal investigator Alan Stern of the Southwest...
  • U.S. Manufacturing costs are almost as low as China’s, and that’s a very big deal

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

    07/03/2015 4:20:10 AM PDT · by thackney · 34 replies
    Power Engineering ^ | 07/01/2015 | Power Engineering
    Indiana will not comply with President Barack Obama's plan to battle climate change by requiring reductions in emissions from coal-fired power plants, Republican Gov. Mike Pence said Wednesday. The proposal as currently written, known as the Clean Power Plan, will make Indiana electricity more expensive and less reliable and hurt economic growth in Indiana and across the nation, Pence wrote in a letter to Obama. The plan targets pollution from the coal-fired power plants that Indiana relies on. Pence said the Indiana coal industry employs more than 26,000 people. "If your administration proceeds to finalize the Clean Power Plan, and...
  • As Saudis Keep Pumping, Thirst for Domestic Oil Swells

    07/03/2015 4:39:13 AM PDT · by thackney · 3 replies
    Wall Street Journal ^ | July 2, 2015 | SUMMER SAID and AHMED AL OMRAN
    Saudi Arabia is poised to break records for oil production this summer, analysts said, as domestic-energy needs soar during its scorching summer and the holy month of Ramadan and threaten its ability to ramp up exports. Saudi Arabia has said it produced a near-record 10.3 million barrels a day in May, a mark that industry observers said could increase to 11 million barrels this summer as air-conditioning use increases with temperatures reaching 110 degrees Fahrenheit. The country has the ability to produce 12.3 million barrels a day for 90 days, but it has never pumped this much. Saudi output averaged...
  • U.S. oil rig count jumps up by a dozen, the first increase in 2015

    07/02/2015 12:59:11 PM PDT · by thackney · 7 replies
    Fuel Fix ^ | July 2, 2015 | Jordan Blum
    The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines. The number of actively drilling oil rigs jumped by 12 this week after several weeks of small decreases, which had indicated the streak of rigs being taken offline was nearing its end. The overall rig count, however, only grew by three rigs, because nine rigs drilling mostly for gas were taken out of service, according to data from oil services provider Baker Hughes. That is a switch from last week when three oil rigs were lost, but the gas-focused...
  • Court: Oklahoma woman can sue fracking company for causing earthquakes

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

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

    07/01/2015 5:38:49 AM PDT · by thackney · 4 replies
    Houston Business Journal ^ | Jun 30, 2015 | Olivia Pulsinelli
    Despite the economic effects of the oil slump, Houston is still among the top metropolitan areas to find a job, a new report says. The Bayou City was second only to Provo, Utah, according to new data compiled by Career Builder and summarized by Forbes. The list ranks the largest 150 U.S. metros based on multiple factors, including unemployment rates, job listings growth and the amount of high-paying new jobs. Raleigh, North Carolina; San Jose, California; and Salt Lake City, Utah, round out the top five. Two other Texas metros — McAllen at No. 6 and Austin at No. 9...
  • Chuck Schumer: Carbon tax has a chance if Clinton wins

    06/24/2015 6:28:08 AM PDT · by Oldeconomybuyer · 12 replies
    Politico ^ | June 23, 2015 | By ELANA SCHOR
    Sen. Chuck Schumer outlined a path Tuesday for Hillary Clinton to enact a carbon tax if the Democrats prevail in the 2016 elections. Schumer said that a Clinton presidency and the return of his party to the Senate majority in 2017 could pave the way for lawmakers to enact a carbon tax to help fund the government. The mere suggestion of a new fee on the emissions blamed for climate change, however, could become a political headache for Clinton and other Democrats, and it’s routinely dismissed by Republicans. Schumer also vowed that Democrats would successfully defend President Barack Obama’s landmark...
  • Did green madness help create the Greek debt crisis?

    06/30/2015 7:39:20 AM PDT · by Brad from Tennessee · 14 replies
    Watts Up With That? ^ | June 30, 2015 | By Eric Worrall
    The unfolding Greek financial crisis is front page news. The repercussions – bank runs, unsustainable debts, deadlocked creditors – could easily lead to major consequences worldwide. However misconceived the Euro currency was, its downfall will be painful on a global scale. How much of Greece’s current economic problems were caused by the made Hellenic dash into renewable energy? The answer, unsurprisingly, is most likely quite a lot. Greece, like many small European economies, has placed a substantial focus on green energy, seeing it as a quick leg up into the big league – an easy way to attract generous funding...
  • Bragging rights: So who is the world’s top oil producer?

    06/30/2015 5:16:39 AM PDT · by thackney · 1 replies
    Platts ^ | June 30, 2015 | Robert Perkins
    Earlier this month, BP’s latest Statistical Review unintentionally reopened a debate into whether the US has regained the crown as the world’s top oil producer after decades of being out-gunned by Saudi Arabia and Russia. Ostensibly a straight-forward measure of which country tops the leaderboard on oil output, BP’s widely-read yardstick has the US eclipsing both Saudi Arabia and Russia for the first time last year since 1975. Fueled by booming shale oil, BP said, US oil output hit 11.64 million b/d last year, a narrow but decisive margin over Saudi Arabia’s 11.51 million b/d. The devil is in the...
  • Current Oil Price Slump Far From Over

    06/30/2015 10:32:51 AM PDT · by bananaman22 · 17 replies
    Oilprice.com ^ | 30-06-2015 | Arthur
    The oil price collapse of 2014-2015 began one year ago this month (Figure 1). The world crossed a boundary in which prices are not only lower now but will probably remain lower for some time. It represents a phase change like when water turns into ice: the composition is the same as before but the physical state and governing laws are different.* For oil prices, the phase change was caused mostly by the growth of a new source of supply from unconventional, expensive oil. Expensive oil made sense only because of the longest period ever of high oil prices in...
  • New York bans fracking after years of "exhaustive research"

    06/29/2015 1:28:12 PM PDT · by Citizen Zed · 18 replies
    Oneida Dispatch ^ | 6-29-2015 | AP
    <p>New York has formalized its ban on high-volume hydraulic fracturing for natural gas after a seven-year environmental and health review.</p> <p>Department of Environmental Conservation Commissioner Joe Martens announced the decision Monday, saying a ban was the "only reasonable alternative" after "years of exhaustive research and examination of the science and facts."</p>
  • Market Tanking - Any Correlation With the Judgement We Can Now Expect? [Vanity]

    06/29/2015 11:35:44 AM PDT · by fwdude · 53 replies
    self-published | 06/29/15 | fwdude
    At last check the market (DJI) was down 254 points after a steady decline throughout the day. US Treasury yields down 14 basis points. I know, the Greek crisis. But Who orchestrates these events beyond our understanding?
  • Hillary withheld emails on Benghazi & Libyan oil - altered others to downplay sharia

    06/29/2015 12:07:55 PM PDT · by Sean_Anthony · 19 replies
    Canada Free Press ^ | 06/29/15 | Robert Laurie
    If the White House is disgusted with anything, it's that she got caught According to a report published this weekend, not only did Hillary lie about the YouTube video but she also lied when she said she turned over all of her non-personal emails. ....And at least a few of the emails that she did manage to turn over were sanitized to downplay some politically uncomfortable realities. As the Washington Examiner reports: Hillary Clinton withheld Benghazi-related emails from the State Department that detailed her knowledge of the scramble for oil contracts in Libya and the shortcomings of the NATO-led military...
  • How Greece Crisis Could Drag Oil Prices Down

    06/29/2015 9:54:41 AM PDT · by bananaman22 · 8 replies
    Oilprice.com ^ | 29-06-2015 | Grexit
    The Greek tragedy is reaching its climax. The discussions between Greece and its European creditors broke down over the weekend, with the two sides still at an impasse. Greek Prime Minister Alexis Tsipras balked at deeper austerity cuts to the Greek economy, cuts that are a prerequisite for further help from Berlin and Brussels. As a result, Greece is approaching the precipice. With a massive debt payment due on June 30 to the IMF, Greece could default. The extent of the fallout is anybody’s guess, but Greece could see the value of its bonds plummet, putting its banks in crisis,...
  • Debate intensifies over the nation’s gas pipeline needs

    06/25/2015 1:07:53 PM PDT · by thackney · 4 replies
    Fuel Fix ^ | June 25, 2015 | Jordan Blum
    The numerous pipeline projects already in the works are more than sufficient to handle the increased natural gas demands in the U.S., with a federal push to limit carbon emissions, according to a new report from the Advanced Energy Economy Institute that urges for more clean power solutions. The new report attempts to counter claims by the North American Electric Reliability Corp. and other stakeholders that contend the nation’s increasing reliance on cheap natural gas for electricity will require more pipeline and power generation capacity. Such critics say the problems will be exacerbated and the nation’s grid reliability will suffer...
  • Rigzone 2Q Survey Reveals Oil, Gas Companies Reluctant to Hire

    06/25/2015 9:40:23 AM PDT · by thackney · 4 replies
    Rig Zone ^ | 6/25/2015 | Valerie Jones|
    Still grappling with market uncertainty, 51 percent of global hiring managers decreased their hiring efforts in the past three months, according to Rigzone’s latest global hiring survey. Additionally, 13 percent have completely frozen their recruitment plans. Since oil prices bottomed out in mid-March, the industry has seen slight increases in oil price per barrel, but not enough for oil and gas companies to feel comfortable enough to actively increase hiring plans in the near future, the survey revealed. In fact, 54 percent of global hiring managers said they believe job cuts are more likely in the next six months and...
  • U.S. refinery capacity reaches 18 million barrels per day

    06/25/2015 9:48:54 AM PDT · by thackney · 6 replies
    Energy Information Administration ^ | June 24, 2015 | Energy Information Administration
    U.S. operable atmospheric crude distillation (CDU) capacity increased by 0.2% in 2014, reaching 18.0 million barrels per calendar day (b/d) according to EIA's recently released annual Refinery Capacity Report (Figure 1). This was the second consecutive year of modest capacity growth following the 2.9% increase in 2012 that resulted from the restart of East Coast refineries that had closed in 2011. The capacities of secondary units that support heavy crude processing and production of ultra-low sulfur diesel and gasoline, including thermal cracking (coking), catalytic hydrocracking, and hydrotreating/desulfurization, also increased. The refinery capacity reported for the start of 2015 includes expansions...
  • Black Chamber of Commerce: EPA Clean Air Plan Will Increase Black Poverty 23%, Strip .. Black Jobs

    06/24/2015 9:55:43 AM PDT · by george76 · 50 replies
    CNS News ^ | June 24, 2015 | Ali Meyer
    A study commissioned by the National Black Chamber of Commerce, which represents 2.1 million black-owned businesses in the United States, found that the Environmental Protection Agency’s (EPA) Clean Power Plan would increase black poverty by 23 percent and cause the loss of 7 million jobs for black Americans by 2035. The study also found that the EPA' plan would increase Hispanic poverty by 26 percent and cause the loss of 12 million jobs for Hispanic Americans by 2035. The EPA proposed the Clean Power Plan on June 2, 2014 to cut carbon emissions from power plants. ... There was a...
  • North Dakota tribal panel wants to regulate oil development

    06/24/2015 1:11:02 PM PDT · by Citizen Zed · 5 replies
    Kansas City Star ^ | 6-24-2015 | JAMES MACPHERSON, AP
    BISMARCK, N.D. Tribal leaders from an oil-prolific portion of North Dakota's Fort Berthold Reservation say they can't count on federal or state regulators — or their own tribal government — to monitor the boom, so they are moving to do it themselves. Industry officials question whether the tribe has the jurisdiction to impose such rules and warned the change could severely slow oil production on the reservation, which accounts for about a third of the state's 1.1 million barrels of daily oil production. Lone Fight and other tribal leaders from the region said they are fed up with everything from...
  • America's grain stocks running short (food security and export control?)

    02/25/2008 5:08:27 AM PST · by TigerLikesRooster · 273 replies · 3,162+ views
    The Grand Island Independent ^ | 02/24/08 | By Robert Pore
    America's grain stocks running short By Robert Pore robert.pore@theindependent.com Print Story | e-mail Story | Visit Forums Global demand for grain and oilseeds is at record levels, causing the nation's grain stocks to reach critically low levels, according to Purdue University agricultural economist Chris Hurt. With a weak U.S. dollar and global demand so high, foreign buyers are outbidding domestic buyers for American grain, Hurt said. "Food consumers worldwide are going to have to pay more," Hurt said. "We ended 2007 with our monthly inflation rate on food nearly 5 percent higher. I think we'll see times in 2008 where...
  • Saudi Arabia, Russia sign nuclear power cooperation deal

    06/21/2015 9:13:05 AM PDT · by mac_truck · 33 replies
    Reuters ^ | 6/19/15 | Reem Shamseddine
    Saudi Arabia and Russia have signed an agreement to cooperate on nuclear energy development, a Saudi government body in charge of such projects said. The government body, the King Abdullah City for Atomic and Renewable Energy, announced the cooperation deal on its website on Thursday but gave no further details. Saudi-owned al-Arabiya TV, citing unnamed sources, said the kingdom planned to build 16 nuclear reactors in which Russia would play a significant role in operating them. The Saudi atomic and renewable energy body has already signed nuclear cooperation deals with countries able to build reactors, including the United States, France,...
  • ‘End Austerity Now,’ demand Britons

    06/20/2015 4:35:16 PM PDT · by RightGeek · 24 replies
    The Hindu ^ | 6/21/2015 | Parvathi Menon
    End austerity: it’s cheating us all; Jobs not Trident; No cuts; Defy Tory rule; Cut war not welfare; Stop fracking; a Living Wage for mothers; and, The Pope gets it, why can’t you? With the slogans emblazoned on banners, posters and flags, anti-austerity marchers shouted slogans, sang, and beat drums, as they walked through London in what is being called the biggest protest march that the city has seen. The ‘End Austerity Now’ demonstration saw participation by an estimated crowd of between 70,000 and 250,000, all coming together to protest against cuts imposed due to austerity, the threats to the...
  • Shale 2.0:Technology and the Coming Big-Data Revolution in America’s Shale Oil Fields

    06/20/2015 8:10:08 AM PDT · by bestintxas · 13 replies
    Manhattan Institute ^ | 5/16/15 | Mark P. Mills
    With petroleum prices down 50 percent over the past year, many analysts and pundits are predicting the end of America’s shale oil boom. Recent headlines include: “Oil Price Fall Forces North Dakota to Consider Austerity” (New York Times);[1] “Oil Price Drop Hurts Spending on Business Investments” (Wall Street Journal);[2] “The American Oil Boom Won’t Last Long at $65 per Barrel” (Bloomberg Business);[3] and “The Shale Oil Revolution Is in Danger” (Fortune)[4]. High prices, shale skeptics argue, created a bubble of activity in unsustainably expensive shale fields. As shale-related businesses contract, consolidate, and adjust to the new price regime, a major...
  • Putin: Russian pipeline project to help Greece pay its debt

    06/20/2015 5:29:04 AM PDT · by sheikdetailfeather · 13 replies
    AP ^ | 6-20-2015 | SANDY MACINTYRE and NATALIYA VASILYEVA
    ST. PETERSBURG, Russia (AP) -- Russian President Vladimir Putin said after Friday's talks with Greek Prime Minister Alexis Tsipras that a prospective Russian natural gas pipeline should help Greece service its debt, but the Kremlin said the question of direct Russian financial aid to Greece was not discussed. Speaking of the pipeline deal at a meeting with top executives of global news agencies, including The Associated Press, which began nearly three hours behind schedule at around midnight, Putin said he saw no support for the Greeks from the EU. "If EU wants Greece to pay its debts it should be...
  • Hewitt: 5 bold reforms Hillary should champion to devastate the GOP and ensure a long ‘Clinton Era’

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

    06/17/2015 7:31:22 PM PDT · by Olog-hai · 22 replies
    Cybercast News Service ^ | June 16, 2015 | 6:58 PM EDT | Penny Starr
    John Holdren, President Barack Obama’s top science and technology advisor, said at a White House summit on clean energy on Tuesday that a “global low-carbon economy” by the year 2050 means that “cars, trucks and planes” will be powered by “electricity, biofuels or hydrogen.” “As we all know, a global low-carbon economy in 2050 is going to have to meet the energy needs of 9 or 10 billion people using technologies that will have to be more advanced than the technologies that are in place today,” he said. “Buildings, agriculture, machines must be dramatically more energy-efficient.” “Cars, trucks and planes...
  • Why The Oil Rally May Well Be Over

    06/17/2015 10:58:45 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 17-06-2015 | Pricepoints
    The oil markets could be about to enter another round of soft prices. The OPEC decision on June 5 to leave its collective target unchanged was widely expected. As a result, oil prices barely flinched. But there are other reasons to think that oil prices could see a bit of a downturn in the coming weeks. First, OPEC revealed in its latest monthly oil report that it is still producing well above its stated 30 million barrel per day target. Saudi Arabia’s output inched up another 25,000 barrels per day in May from the month before in a further sign...
  • Seeds from plant said biodiesel source

    07/10/2007 5:19:30 AM PDT · by Red Badger · 7 replies · 545+ views
    John Gallagher pinches a pod from the long-stemmed plant in the greenhouse next to his office, cracks it open and pops the BB-sized seeds into his mouth. "They're not going to compete with peanuts, but they're good," said Gallagher, a University of Delaware researcher. While the seashore mallow might be handy for a quick snack, the sturdy plant has provided Gallagher food for thought in addressing a smorgasbord of environmental problems, from global warming to the disappearance of coastal farmland. Gallagher, a marine biosciences professor, says the seeds are a promising source of biodiesel, with an oil composition similar to...
  • Is Elon Musk Just A Billionaire Welfare King?

    06/12/2015 9:27:31 PM PDT · by Rabin · 32 replies
    oilprice.com ^ | 11 June 2015 | Gaurav Agnihotri
    Elon Musk our billionaire, whose Stimulus funded Tesla Motors, Solarandra City and (only option to Russia, NASA is out) Space X has received $4.9 billion in FedSlush. Is Elon Musk a billionaire welfare queen of Federal grants, discounted loans, tax breaks, government RICO & Carbon credits? Tesla is set to receive an incentive worth $1.3 billion from the state of Nevada. Anyone who buys a Tesla gets a $7,500 federal income tax credit, Californians receive an additional rebate of $2,500 from the state. In all, Tesla Motors Inc. has received close to $2.391 billion in form of government subsidies. SolarCity,...
  • The Front-Runners In Fusion Energy

    06/12/2015 2:24:36 PM PDT · by ckilmer · 15 replies
    zerohedge ^ | Thu, 11 June 2015 21:49 | | Michael McDonald
    The Front-Runners In Fusion Energy Submitted by Tyler Durden on 06/12/2015 15:14 -0400 Reality     inShare1   Submitted by Michael McDonald via OilPrice.com,Fusion power has been something of a holy grail in the energy field for decades. The idea of harnessing the same energy that powers the sun naturally excites many. At the same time, despite decades of research, fusion energy has yet to come close to being a reality. The only significant practical advance in fusion reactions has been the development of thermonuclear weapons like the hydrogen bomb which, for all intents and purposes, serve the same purpose...
  • And it's gone...Greek Banks in Macedonia can't withdraw cash - Central Bank's Bogov

    06/12/2015 7:42:44 AM PDT · by alexmark1917 · 39 replies
    https://twitter.com/zerohedge/status/609341858045497344 https://twitter.com/TraderStef/status/609355146842275840 https://twitter.com/JAFF3/status/609343992803774464 https://twitter.com/russian_market/status/609341880623591424 The bank runs (and capital controls) begin. Macedonia Central Bank Governor Bogov states: *GREEK BANKS IN MACEDONIA CAN’T WITHDRAW CASH: BOGOV*MACEDONIAN BANKS PROTECTED IN CASE OF GREXIT: BOGOV How long before the rest of Europe follows suit and a bank holiday is declared Monday to "Cyprus" depositors? He further added: *MACEDONIAN CENTRAL BANK SEES MAJOR RISKS FROM POLITICAL CRISIS http://www.zerohedge.com/news/2015-06-12/macedonia-central-bank-blocks-greek-bank-withdrawals-case-grexit Macedonia Central Bank blocks Greek bank withdrawals FXStreet (Córdoba) - Macedonian Central Bank's Governor Dimitar Bogov has stated that Greek banks are not able to withdraw cash. According to Bogov, this withdrawal halt is protection against...
  • Oil exploration in the U.S. Arctic continues despite current price environment

    06/12/2015 5:49:05 AM PDT · by thackney · 4 replies
    Energy Information Administration ^ | JUNE 12, 2015 | Energy Information Administration
    Alaska's crude oil production has declined from 1.8 million barrels per day (MMb/d) in 1991 to 0.5 MMb/d in 2014, and it is expected to continue declining through 2040. Almost 75% of Alaska's crude oil production from 1990 to 2012 was from the Prudhoe Bay and Kuparuk River fields in the central North Slope, which respectively produced 4.9 billion and 1.7 billion barrels of crude oil over this period. Crude oil production in Alaska is sensitive to the challenging environment—including variable ice conditions and limited time without ice coverage—as well as pipeline economics. However, recent conditional approval granted to Royal...
  • IEA: Crude demand returns, and OPEC steps up

    06/12/2015 5:44:52 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | June 11, 2015 | Collin Eaton
    The world’s appetite for crude is making a comeback as economies improve and cheap oil draws out more buyers, the International Energy Agency says. In its monthly oil market report released Thursday, the IEA revised its estimate of daily global oil demand in the first half of the year by 400,000 barrels, as the United States and other developed nations reversed a “long declining, seemingly entrenched, trend to a rising one.” Worldwide, daily demand was 93.3 million barrels for the last six months, up 1.6 million from the same period last year. And the IEA believes demand could rise to...
  • The truth about ‘America’s project’

    04/20/2015 10:40:56 PM PDT · by 2ndDivisionVet · 3 replies
    Al Arabiya News ^ | April 16, 2015 | Eyad Abu Shakra
    With every day that passes, Operation Decisive Storm proves just how necessary, and hence, justifiable it is. The conspirators inside Yemen have made huge investments over the past few years in funding sectarian infrastructures, organizations, logistics, as well as tribal and interest-based relations woven with ex-president Ali Abdullah Saleh’s “family-run militia.” The militia that has fought under his banner defends his interests and the interests of those he chooses to befriend today, only to turn on them tomorrow. These investments have been huge and long term. The investors are now well known and for a time this looked like nothing...
  • Gasland Producer Kicked Off Fox For Calling Host A ‘Liar’ [Stuart Varney kicks butt]

    06/09/2015 1:44:00 AM PDT · by Cincinatus' Wife · 7 replies
    The DC - The Daily Caller ^ | June 8, 2015 | Michael Bastasch
    Josh Fox, creator of the “Gasland” films, has been playing up on Twitter that he got kicked off the Fox Business show Varney & Co. after a heated debate with the show’s host on the EPA’s hydraulic fracturing report. Fox and his supporters claimed he was kicked off the Fox show for schooling its host Stuart Varney in a fracking debate. Fox claims Varney kicked him off the show after being “confronted with the truth on fracking.” But Fox’s claim of being kicked off Fox Business for beating them down with facts is very far from the truth. The Daily...
  • G7 leaders agree to phase out fossil fuels by 2100, Merkel says

    06/08/2015 6:34:43 AM PDT · by xzins · 104 replies
    Global News ^ | Jun 8, 15 | AP
    German Chancellor Angela Merkel says the Group of Seven wealthy democracies have agreed that the world should phase out the use of fossil fuels by the end of this century. Merkel said Monday that the G-7 leaders committed themselves to the need to “decarbonize the global economy in the course of this century.” That is a technical term for ending the use of oil, gas and coal – but not nuclear power – and replacing them with alternative sources of energy such as wind and solar power.
  • China Now World's Largest Oil Importer; Effect on Global Market

    06/08/2015 5:13:10 AM PDT · by thackney · 37 replies
    Forbes ^ | 6/08/2015 | Tom Morgan
    Although data_opacity makes objective_analysis difficult, market observers reported in April that China has surpassed the United States as the world’s largest oil_importer. This statistical inflection point needs context to understand global consumption trends. While oil bulls are anxious about China’s reduced crude growth appetite, fundamental shifts in Chinese currency and domestic consumption strategies point to long-term growth in Chinese hydrocarbon consumption generally. Keith Johnson wrote in Foreign Policy on May 11, 2015, “… China’s continued and, indeed, deepening reliance on volatile regions for the world for energy supplies, especially the Middle East, points to continued security vulnerabilities for Beijing for...
  • OPEC members approve Indonesia's bid to rejoin: Indonesia Energy Ministry

    06/08/2015 5:19:59 AM PDT · by thackney · 4 replies
    Reuters via Fiscal Times ^ | June 5, 2015 | Alex Lawler and Jonathan Leff
    Te Saudi Arabian government delegation appreciate and fully support the decision of the Indonesian government to become an OPEC member again, because Indonesia is one of the founders of OPEC," Indonesian Energy Minister Sudirman Said said in the statement. Saudi Arabia is Indonesia's top crude supplier. Naimi will also push for Saudi state oil firm Saudi Aramco to invest in Indonesia's downstream sector, Said said.
  • Saudi Arabia says it shot down Scud missile fired from Yemen

    06/06/2015 1:28:26 AM PDT · by SaveFerris · 18 replies
    Yahoo! News ^ | 58 minutes ago - 6/6/2015 | ABDULLAH AL-SHIHRI
    RIYADH, Saudi Arabia (AP) — Saudi Arabia said it shot down a Scud missile fired by Yemen's Shiite rebels and their allies early Saturday at a Saudi city that is home to a major air base, marking what could be a major escalation in the monthslong war. Two missiles launched from a Patriot missile battery shot down the Scud around 2:45 a.m. Saturday (2345 GMT, 7:45 p.m. EDT Friday) around the southwestern city of Khamis Mushait, the official Saudi Press Agency reported. The agency did not report any casualties in the attack. Khamis Mushait is home to the King Khalid...
  • Yemen Rebels fire 3 Scud missiles at Saudi Airbase

    06/06/2015 12:34:35 PM PDT · by tcrlaf · 9 replies
    LATimes ^ | 6-6-2015 | By Zaid Al-Alayaa and Laura King
    n the first such attack of the 10-week-old conflict in Yemen, Shiite Muslim rebels early Saturday launched three Scud missiles toward a large Saudi air base, the insurgents reported. The Saudis acknowledged the firing of one missile, which they said was shot down. The episode came as the United Nations is struggling to bring the two sides together for talks that are envisioned to begin June 14. Both sides appear to be seeking to shore up their gains in advance of any negotiations. The Houthis’ Masirah television reported the missile firings, which Saudi Arabian reports said were aimed at the...
  • Putin and Buffett’s War on U.S. Pipelines

    06/06/2015 6:52:57 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | June 6, 2015 | Paul Driessen
    Abundant, reliable, affordable oil and natural gas empower people. They support job creation, mobility, modern agriculture, homes and hospitals, computers and communications, lights and refrigerators, life and study after sundown, indoor plumbing, safe drinking water, less disease and longer lives. Hydrocarbons make plastics, pharmaceuticals and synthetic clothing. They create fertilizers and pesticides, to improve crop yields, reduce food prices and improve nutrition. But Sierra Club, 350.org and other radicals want to keep America’s oil and natural gas bounties in the ground. They block leasing, drilling and fracking. They block pipelines that transport oil and gas to refineries, power plants, factories...
  • EPA: Uh, Fracking Isn't Bad Afterall

    06/05/2015 1:13:17 PM PDT · by Kaslin · 9 replies
    Townhall.com ^ | June 5, 2015 | Katie Pavlich
    After years of unfounded hysteria from so-called environmentalists, the media and Hollywood that fracking causes drinking water contamination, the Environmental Protection Agency just issued a major blow to anti-fracking activists. A new report from the EPA, based on a study sanctioned by Congress, shows drinking water contamination only results if fracking wells aren't built or maintained properly, which is a rarity. "We did not find evidence that these mechanisms have led to widespread, systemic impacts on drinking water resources in the United States. Of the potential mechanisms identified in this report, we found specific instances where one or more of these mechanisms...
  • Jerry Brown turns on liberal environmentalists, rejects California fracking ban

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

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

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

    06/01/2015 2:43:38 PM PDT · by brownwill6767 · 4 replies
    John Locke Foundation ^ | 5/21/15 | Mitch Kokai
    Saudi Arabia’s unwillingness to follow its longstanding policy of propping up oil prices means North Carolina might have to wait for offshore energy exploration. That’s the assessment of Daniel Fine, associate director of the New Mexico Center for Energy Policy and project leader of a group developing New Mexico’s state energy policy. Fine described a Saudi-led oil “price war” during a presentation to the John Locke Foundation’s Shaftesbury Society. In the video clip below, Fine explained how falling oil prices tied to Saudi Arabia’s new policy affect North Carolina’s energy options.
  • Obama's JV team ISIS now threatens the entire global oil supply.

    06/01/2015 5:32:38 PM PDT · by free_life · 12 replies
    Now the End Begins ^ | May 31, 2015 | Geoffrey Grider
    "We have very little food and ammunition, and we can't withstand the suicide bombers, snipers and rockets....All of us are thinking of committing suicide - Iraqi Federal Police Officer. Against this cataclysmic backdrop of bombs falling in Sana’a and with ISIS literally at the gates of the major Iraqi city of Ramadi, many US energy and security experts were shocked to hear President Barack Obama ignore the danger in a recent keynote speech in which he pinpointed global warming as an equally big risk for Americans. “Climate change constitutes a serious threat to global security, an immediate risk to our...
  • Iranian General Says Saudi Arabia Will Soon Be Toppled

    04/27/2015 8:28:57 AM PDT · by McGruff · 25 replies
    NY Times ^ | April 27, 2015 | THOMAS ERDBRINK
    A senior Iranian general said on Monday that the leadership of Saudi Arabia, a regional rival, was on the edge of collapse and would be toppled soon, “God willing.” Saudi-led bombardments on Yemen are “shameless and rude and an affront to all Islamic values,” the head of the 150,000-strong Islamic Revolutionary Guards Corps, Gen. Mohammad Ali Jafari, said during a speech in Tehran.