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Keyword: opec

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  • EPA Admits to Senate that CO2 Regs Not About Pollution Control

    07/27/2014 3:10:20 PM PDT · by House Atreides · 29 replies
    www.drroyspencer.com Global Warming ^ | July 25, 2014 | Roy W. Spencer
    On Wednesday, before the Senate EPW Committee, EPA Administrator Gina McCarthy had this priceless quote regarding the EPA’s proposed carbon dioxide regulations (italics added): “And the great thing about this proposal is it really is an investment opportunity. This is not about pollution control. It’s about increased efficiency at our plants…It’s about investments in renewables and clean energy. It’s about investments in people’s ability to lower their electricity bills by getting good, clean, efficient appliances, homes, rental units.”
  • Venezuela climate summit calls for end to “green economy” - an end to capitalism

    07/24/2014 1:13:58 AM PDT · by Cincinatus' Wife · 7 replies
    RTCC - Responding To Climate Change ^ | July 23, 2014 | Sophie Yeo
    UN-backed event ends with unusual call from civil society groups to end capitalism A UN-backed conference in Venezuela has ended with a declaration to scrap carbon markets and reject the green economy. The Margarita Declaration was issued at the end of a four-day meeting of around 130 green activist groups, which the Venezuelan government hosted in order to raise the volume of civil society demands in UN discussions on climate change. “The structural causes of climate change are linked to the current capitalist hegemonic system,” the final declaration said. “To combat climate change it is necessary to change the system.”...
  • Coal company bankruptcies accellerating [Obama keeping his campaign promise]

    07/26/2014 11:41:06 AM PDT · by SeekAndFind · 14 replies
    American Thinker ^ | 07/25/2014 | Rick Moran
    Bloomberg is reporting on the increase in coal company bankruptcies in recent years, due to the switch by power companies to natural gas and fracking, which has flooded the market with cheap gas. Driving this conversion is the prospect of new, draconian rules to be issued by the EPA on emissions from coal plants. Exports are failing to save U.S. miners. Slowing Chinese growth and rising competition from overseas, including increased Australian output, have sent the price of metallurgical coal, used in steelmaking, to a six-year low. Central Appalachian thermal coal, used in power plants to produce electricity, fell on...
  • Russia's Rosneft to explore for offshore oil in Cuba, Putin says

    07/12/2014 10:03:29 AM PDT · by tcrlaf · 7 replies
    Reuters ^ | 7-11-2014 | Reuters
    Russian President Vladimir Putin said on Friday he was hopeful Russian oil company Rosneft and Cuban state oil company Cupet could begin jointly exploring Cuba's potential offshore oil reserves "in the very near future."
  • Putin makes unplanned stopover in Nicaragua

    07/12/2014 12:58:46 PM PDT · by Tailgunner Joe · 22 replies
    itar-tass.com ^ | July 12, 2014
    MANAGUA, July 12 /ITAR-TASS/. Russian President Vladimir Putin has changed the schedule of his Latin American tour and arrived in Nicaragua for a brief working visit. On his way from Cuba to Argentina on Saturday, the Russian leader decided to make a stopover in Managua, where he had been officially invited earlier. At the Managua airport, he was welcomed by Nicaraguan President Daniel Ortega. ‘Much is yet to be done to develop our relations, especially in the area of economy, but we have good base for that,” Putin said, adding that Russia and Nicaragua had long-standing good relations. “We admire...
  • Putin pledges to help Cuba explore for offshore oil

    07/11/2014 3:30:15 PM PDT · by Tailgunner Joe · 12 replies
    reuters.com ^ | July 11, 2014 | Alexei Anishchuk and Daniel Trotta
    HAVANA (Reuters) - Russian President Vladimir Putin pledged to help revive Cuba's struggling offshore oil exploration on Friday at the start of a six-day tour of Latin America as Russia aims to reassert its influence on the communist-ruled island. Putin was joined in Havana by close ally and so-called Russian oil czar Igor Sechin, the chairman of state oil company Rosneft, to finalise a deal to explore for oil off Cuba's northern coast. The Russian president also promised to reinvest $3.5 billion of Cuban debt with Russia into development projects on the island, part of a deal in which Russia...
  • Vintage Car Owners Line Up for Fuel

    07/11/2014 1:17:40 PM PDT · by Citizen Zed · 21 replies
    Wards Auto ^ | 7-11-2014 | Tom Murphy
    If you own a classic car, the place to be Friday morning was the Mobil Gas Station on Woodward Avenue in Birmingham, MI. Where else would you find gasoline priced the same as it was when your vintage auto was brand new? For instance, the owner of a ’31 Cord would pay the lowest price, a measly $0.17 per gallon of regular unleaded, while the owner of an ’82 Pontiac Firebird would pay the most – $1.31 per gallon, a princely sum back then. “This is the greatest day ever!” declares Thomas Semaan, whose ’80 Chevrolet Corvette Stingray fueled up...
  • Oil industry's wastewater wells blamed for triggering Oklahoma quakes [liberal lies]

    07/04/2014 8:32:02 PM PDT · by re_nortex · 10 replies
    Fortune ^ | July 3, 2014, 2:06 PM EDT | Michael Casey
    ...the study provides the strongest evidence yet that the upsurge quakes in the past decade across Central and mid-America is at least partially to be blamed on humans. More than 300 earthquakes have occurred from 2010 to 2012 compared to an average rate of 21 every year from 1967 to 2000, according to the U.S. Geological Survey. Most have ranged from 2.0 to 3.6 on the Richter scale but there have been exceptions, including a 5.6 event in central Oklahoma in November 2011 that destroyed 14 homes and injured two people.
  • New York State considers releasing oil train details

    07/04/2014 5:53:36 PM PDT · by Citizen Zed · 6 replies
    While the federal government ordered railroads a month ago to give states details about shipments of volatile crude oil from North Dakota’s Bakken shale region, New York State officials haven’t decided whether to share that information with the public. The Associated Press and eight environmental groups filed Freedom of Information Law requests with the state Office of Emergency Management this week, arguing that it’s in the public interest for communities to know more about the shipments in light of at least eight major accidents during the last year, including one that killed 47 people in Quebec a year ago. The...
  • Here Are the Biggest Winners as the 40-Year Ban on U.S. Crude Oil Exports Ends

    06/28/2014 9:31:26 AM PDT · by mgist · 25 replies
    Money Matters ^ | 6/27/14 | dr. Kent Moors
    After over four decades, it looks like America is getting back into the oil export business again. For the first time since the 1970s, Washington has opened the door to sending more U.S. crude oil abroad. Of course, the United States has been exporting oil products for some time now. In fact, America is now the largest exporter of products like gasoline, low sulfur heating oil, and diesel fuel in the world. But until now, companies were hamstrung when it came to the raw material itself. Of course, there have been a few exceptions. Very heavy California crude, which has...
  • Pressure on Oil Megaprojects

    06/23/2014 3:50:31 AM PDT · by Laurent.w · 2 replies
    The New York Times ^ | JUNE 17, 2014 | MURIEL BOSELLI
    Around the world, the giant oil companies of the United States and Europe are putting the brakes on a decade-long spending spree focused on finding and developing offshore oil fields in ever-tougher environments. The reason: Soaring costs are outpacing foreseeable rises in energy prices. Analysts at Bernstein say oil prices are likely to remain stable in the near term, but they also point to a long-term uptrend, with prices underpinned by rising costs. They predict that oil prices will rise to an average of $132 per barrel in 2018, from $110 per barrel now. “The era of easy to find,...
  • The World Has 53.3 Years of Oil Left

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

    06/20/2014 1:13:56 PM PDT · by Tailgunner Joe · 6 replies
    freebeacon.com ^ | June 20, 2014 | Bill Gertz
    A key figure in covert Russian efforts to destabilize eastern Ukraine is working for Russia’s GRU military intelligence service, according to U.S. officials. Igor Vsevolodovich Girkin, who is currently using the nom de guerre Igor Strelkov, has identified himself in press reports as “defense minister” of the self-proclaimed, pro-Russian “Donetsk People’s Republic. This week he called for Russia to send military aid to rebels in eastern Ukraine. U.S. officials said Strelkov is considered a leading pro-Russian rebel who is undermining stability as part of a major Russian covert action program in Ukraine. Officials said Girkin is a GRU colonel who...
  • Russia denies troop buildup at Ukraine border

    06/20/2014 6:56:53 AM PDT · by McGruff · 29 replies
    REUTERS ^ | Jun 20, 2014
    The Kremlin on Friday denied a statement by NATO suggesting Russia was building up troops on the frontier with Ukraine but said Moscow had brought in more border guards because of security concerns. NATO Secretary-General Anders Fogh Rasmussen said on Thursday that at least a few thousand more Russian troops were now at the frontier, and called it a regrettable step backwards following an earlier withdrawal from the border. "There has been no build-up," Yuri Ushakov, President Vladimir Putin's foreign policy adviser, told reporters. He said Russia was concerned about security at the border and added: "This means just the...
  • Grouse hits 400,000 Acres Out of Energy Production

    06/21/2014 8:19:33 AM PDT · by george76 · 25 replies
    Colorado Observer. ^ | June 20, 2014 | Audrey Hudson
    The federal government’s decision to ban energy development across a wide swath of Colorado and eastern Utah to protect the Gunnison sage grouse habitat has raised concerns the action would inflict economic damage. Although the Obama administration was not expected to make its decision as to whether the bird warrants the endangered listing until November, the Bureau of Land Management’s decision this week effectively puts an oil, gas and coal moratorium on 400,000 acres – roughly 90 acres per bird. The final decision was “pushed back until after the election, because when people understand the impact on jobs, people get...
  • Senate Energy Committee clears pro-Keystone XL measure, with Mary Landrieu leading the charge

    06/19/2014 2:37:36 PM PDT · by SeekAndFind · 7 replies
    Hotair ^ | 06/19/2014 | Erika Johnsen
    In the face of the relentless dillydallying on the part of the Obama administration on the Keystone XL pipeline, Canada went ahead and starting exploring the potential of cutting deals with other markets in Asia — and yesterday, the Canadian government approved their own Northern Gateway pipeline to carry crude from the Alberta oil sands out to the Pacific Ocean for shipment via tankers. There has been some speculation about the possibility of the Obama administration approving the Keystone XL pipeline now that Iraq’s oil output is on seriously unstable footing (although, reality check: The Keystone XL pipeline by...
  • Saudi Arabia Under Pressure To Plan For Iraq Oil Disruption

    06/18/2014 5:59:09 AM PDT · by thackney · 11 replies
    Oil Price ^ | 16 June 2014 | Nick Cunningham
    When U.S. President Barack Obama spoke briefly on June 13 outside the White House on the deteriorating security situation in Iraq, he ruled out sending in U.S. troops, but said that he had instructed his national security team “to prepare a range of other options.” While the potential use of force – most likely consisting of airstrikes in some form – is what made headlines, Obama also hinted at the fact that his administration was working behind the scenes to plan for a possible major disruption in Iraqi oil output, which accounts for some 3.5 percent of global supply. “One...
  • North Dakota Pumps 1 Million Barrels of Oil a Day

    06/17/2014 5:09:24 PM PDT · by Citizen Zed · 4 replies
    abc news ^ | Jun 17, 2014 | Josh Wood
    North Dakota has joined the ranks of the few places in the world that produce more than a million barrels of oil per day, due in large part to the rich Bakken shale formation in the western part of the state. The April figures released Tuesday by the state's Department of Mineral Resources showed the record tally. North Dakota had flirted with the million-barrel-per-day mark for months, but the harsh winter slowed the pace. In March, production had hit 977,000 barrels per day. North Dakota's oil fields now represent more than 12 percent of all U.S. oil production, and more...
  • Hillary Clinton weighs in on Keystone XL pipeline

    06/17/2014 5:00:14 AM PDT · by thackney · 19 replies
    AP via Fuel Fix ^ | June 16, 2014 | Rob Gillies
    The pipeline is critical to Canada, which needs infrastructure in place to export its growing oil sands production. Alberta has the world’s third largest oil reserves, with 170 billion barrels of proven reserves. “I did not see it nor should it be a proxy for the relationship. It is, after all, one pipeline. We already have a lot of pipelines that cross our border,” Clinton said
  • Shiite militia seizes control of Iraqi town, slowing ISIS drive toward Baghdad

    06/14/2014 4:37:41 PM PDT · by BenLurkin · 38 replies
    .washingtonpost.com ^ | June 14 at 7:23 PM | Liz Sly and Abigail Hauslohner
    Men young and old piled into taxis, trucks, police vehicles and minibuses and drove noisily through the streets, honking horns and waving an assortment of weapons including rocket-propelled grenades, high-powered sniper rifles, Kalashnikov assault rifles and handguns. “Daiish we will never surrender,” chanted a group of young men piled on the back of a pick-up truck, using an acronym for the al-Qaeda-inspired Islamic State of Iraq and Syria (ISIS), which carried out a stunningly swift seizure of large swaths of northern Iraq last week. “We want to show the world that we can protect ourselves,” said Khodr al-Tamimi, a turbaned...
  • LocalAnalyst: Fall Of Baghdad Would Make Current Gas Prices ‘Look Like A Bargain’

    06/14/2014 3:46:19 PM PDT · by TigerClaws · 33 replies
    CBS Los Angeles ^ | June 13, 2014
    LOS ANGELES (CBSLA.com) — Oil industry analysts are warning a brewing civil war between Islamic militants in Iraq could potentially send gas prices soaring here in the Southland. KNX 1070′s Pete Demetriou reports the price of crude oil has shot up to $107 per barrel – the highest in 10 months – on reports that soldiers with the al-Qaeda-inspired Islamic State of Iraq and Syria captured two towns in an ethnically mixed province northeast of Baghdad.
  • Expected growth in non-OPEC production reduces the call on OPEC crude required to balance the market

    06/11/2014 12:16:15 PM PDT · by thackney · 9 replies
    Energy Information Administration ^ | 6/11/2014 | Energy Information Administration
    n June 11, the Organization of the Petroleum Exporting Countries (OPEC) reaffirmed the group's crude oil production target of 30 million barrels per day (bbl/d) that has been in place since December 2011. This target is slightly above the 29.8-million-bbl/d call on OPEC crude oil and global stocks during 2014 presented in the June Short-Term Energy Outlook (Figure 1). The expected 2014 average call on OPEC and global stocks is 0.3 million bbl/d lower than in 2013, with an additional 0.2-million-bbl/d decline during 2015 to an average of 29.6 million bbl/d. Growing non-OPEC supply, particularly from continuing tight oil production...
  • Turkey driven by 'greed' in Kurdish oil row: Iraqi deputy PM

    06/01/2014 1:23:49 PM PDT · by DeaconBenjamin · 4 replies
    hurriyet daily news ^ | June/01/2014
    Turkey has been “driven by greed” in an escalating row over oil pumped from Iraq’s autonomous Kurdish region and shipped overseas, Baghdad’s top energy official has said, after northern Iraqi leader Masoud Barzani reportedly threatened to consider self-rule. The remarks by Hussein al-Shahristani, deputy prime minister responsible for energy affairs, represent a significant ratcheting up of rhetoric after Baghdad took legal action against Ankara in a widening dispute over Iraq’s prized natural resources. The shipping of oil extracted from the three-province Kurdistan Regional Government (KRG) last month has chilled ties both between Baghdad and Ankara, and between the central government...
  • Obama warns of 'devastating' hurricanes from climate change

    06/01/2014 2:25:37 PM PDT · by Libloather · 65 replies
    The Hill ^ | 5/30/14 | Laura Barron-Lopez
    President Obama warned Friday that storms like Hurricane Sandy will become more frequent as climate change intensifies. While being briefed by emergency response officials at the Federal Emergency Management Agency (FEMA) headquarters, Obama urged the public to prepare now for this year's hurricane season. "The changes we’re seeing in our climate means that, unfortunately, storms like Sandy could end up being more common and more devastating," Obama said. "And that’s why we’re also going to be doing more to deal with the dangers of carbon pollution that help to cause this climate change and global warming. And that’s why we’re...
  • U.S. gas imports declining steadily

    06/01/2014 2:42:11 PM PDT · by thackney · 9 replies
    UPI ^ | May 29, 2014 | Daniel J. Graeber
    The amount of natural gas imported into the U.S. market dropped 14 percent last year in part because of abundant domestic resources, the Energy Department said. The Energy Information Administration, the statistical arm of the Energy Department, said natural gas production in 2013 hit 24.2 trillion cubic feet, which would be a new record if preliminary data are correct. EIA said in its report net imports declined in part as a response to increases in domestic production. The level of natural gas imports have declined every year since 2007, the report said, and is at its lowest level since 1989....
  • EPA to Seek A 30% Cut In Emissions [by 2030]

    06/01/2014 2:48:43 PM PDT · by Lorianne · 32 replies
    Wall Street Journal Online ^ | 01 June 2014 | Amy Harder
    The Environmental Protection Agency will seek a 30% reduction in U.S. carbon-dioxide emissions by 2030 from existing power plants based on emission levels from 2005, according to two people briefed on the rule, setting in motion the main piece of President Barack Obama's climate-change agenda. The draft rule, to be proposed Monday and scheduled to be completed one year from now, will give flexibility to the states, which must implement the rules and submit compliance plans to the EPA by June 2016. States can decide how to meet the reductions, including joining or creating new cap-and-trade programs, deploying more renewable...
  • U.S. Gasoline Consumption Plummets By Nearly 75%

    05/31/2014 11:02:00 AM PDT · by blam · 55 replies
    Zero hedge - BullionBullsCanada ^ | 5-31-2014 | Jeff Nielsen
    Tyler Durden 05/30/2014Submitted by Jeff Nielsen via BullionBullsCanada blog, Regular readers are familiar with my narratives on the U.S. Greater Depression, and (in particular) some of the government’s own charts which depict this economic meltdown most vividly. The collapse in the “civilian participation rate” (the number of people working in the economy) and the “velocity of money” (the heartbeat of the economy) indicate an economy which is not merely in decline, but rather is being sucked downward in a terminal (and accelerating) death-spiral. However, even that previously published data, and the grim analyses which accompanied it could not prepare me...
  • Scientists Admit Polar Bear Numbers Were Made Up To ‘Satisfy Public Demand’

    05/31/2014 7:09:18 AM PDT · by grundle · 44 replies
    Daily Caller ^ | May 30, 2014 | Michael Bastasch
    Researchers with the IUCN Polar Bear Specialist Group (PBSG) recently admitted to experienced zoologist and polar bear specialist Susan Crockford that the estimate given for the total number of polar bars in the Arctic was “simply a qualified guess given to satisfy public demand.” Crockford has been critical of official polar bear population estimates because they fail to include five large subpopulations of polar bears. Due to the uncertainty of the populations in these areas, PBSG did not include them in their official estimate — but the polar bear group did include other subpopulation estimates. PBSG has for years said...
  • Obama to impose carbon pollution cap on power plants

    06/01/2014 11:00:23 AM PDT · by lowbridge · 152 replies
    cbs ^ | may 31, 2014 | jake miller
    In his most sweeping effort to date to reduce carbon emissions and combat climate change, the Obama administration will unveil a new rule from the Environmental Protection Agency on Monday limiting the amount of carbon pollution from coal power plants. The rule will impose a cap on the level of emissions existing power plants are permitted and it will provide each state a flexible series of options to implement that cap. Among other options, power plants will be allowed to increase the energy they derive from renewable sources like wind and solar power, adopt new technology to increase energy efficiency,...
  • A World Turns Against Biofuels

    06/01/2014 6:29:39 AM PDT · by rktman · 16 replies
    canadafreepress ^ | 5/31/2014 | Dennis Avery
    The United Nations’ Intergovernmental Panel on Climate Change has suddenly reversed its support for biofuels. The panel now admits growing crops for fuel “poses risks to ecosystems and biodiversity.” Scientists—and many Green activists—turned against ethanol and biodiesel years ago because it took too much land. However, the United States and EU governments have kept their farmer subsidies. “Environmentalism” had suddenly become political payoff.
  • Ahead of power plant push, Obama ties climate change to health hazards

    05/31/2014 4:42:00 AM PDT · by Oldeconomybuyer · 26 replies
    Reuters ^ | May 31, 2014 | by Jeff Mason
    President Barack Obama kicked off a campaign to promote new restrictions on U.S. power plant emissions on Saturday by tying the fight against climate change with efforts to promote better health for children and the elderly. In his weekly radio address, Obama said the United States had to do more to reduce carbon emissions so that children suffering from asthma and other related ailments did not face further problems as a result of polluted air. Obama said the new guidelines would reduce smog and soot that threaten vulnerable populations such as the young and the aged and he said up...
  • The Jaw-Dropping Potential in This American Oil Patch Could Change the World

    05/25/2014 9:39:44 AM PDT · by ckilmer · 41 replies
    fool.com ^ | May 24, 2014 | Tyler Crowe
    The Jaw-Dropping Potential in This American Oil Patch Could Change the World By Tyler Crowe |May 24, 2014 | It may not look like much, but this might be the biggest oil field in the world (Source: Devon Energy Media Resources).The pride and joy of Saudi Arabia's oil industry has been the Ghawar oil field, which has been recognized as the largest in the world ever since its discovery in 1948. That is, perhaps, until now. A shale oil formation deep beneath the plains of West Texas has been sitting right under our noses for years, and Pioneer Natural Resources (NYSE: PXD  )...
  • Gas Price Record Worsens: 1,245 Days above $3 a Gallon

    05/22/2014 1:34:55 PM PDT · by Olog-hai · 41 replies
    Cybercast News Service ^ | Julia Seymour
    Memorial Day weekend drivers will continue to take a hit as gasoline prices remain high. May 20 marks the 1,245th straight day that the national average for a gallon of regular gasoline costs more than $3 a gallon, according to AAA data. That’s nearly three-and-a-half years above $3 a gallon.
  • Oil companies say new federal regulations on Southwest bird has halted drilling in Kansas

    05/24/2014 11:07:55 AM PDT · by Hojczyk · 17 replies
    Fox News ^ | May 24 ,2014 | Joseph Weber
    Oil companies say a weeks-old Obama administration ruling that protects a Southwestern prairie bird has already halted oil-drilling operations in Kansas and is costing the U.S. economy tens of millions of dollars, as a GOP congressmen suggests the move is another “job-killing” attack on fossil fuel. The decision by the U.S. Fish and Wildlife Service that was announced in late March and took effect May 1 includes a provision that should allow federal officials and landowners in the five impacted states -- Colorado, Kansas, New Mexico, Oklahoma and Texas -- to manage conservation efforts. But oil producers say the interim...
  • U.S. imports of crude oil from Africa fell by more than 90 percent between 2010 and early 2014

    05/22/2014 12:49:20 PM PDT · by thackney · 9 replies
    Energy Information Administration ^ | May 21, 2014 | Energy Information Administration
    African crude oil exports to the United States averaged 170,000 barrels per day (bbl/d) for the first four months of 2014 as rapidly rising U.S. crude production has reduced U.S. refiner demand for imported light sweet crude oil. Historically, U.S. refiners have been major consumers of African crude oil, primarily light sweet crude from Nigeria, Algeria, and Angola, with the United States taking 2 million bbl/d, or about one-quarter, of African crude exports as recently as 2010. African exports to other global regions reflect both changes in exports to the United States and the repeated and extended disruptions in Libyan...
  • US Oil Production Booms While OPEC Flounders

    05/19/2014 3:13:52 PM PDT · by ckilmer · 9 replies
    dailycaller ^ | 12:52 PM 05/19/2014 | Michael Bastasch
       US Oil Production Booms While OPEC Flounders 12:52 PM 05/19/2014   Michael Bastasch Instability in the Middle East is posing problems for OPEC, the world’s largest oil cartel. The cartel may have trouble producing enough oil to meet demand later this year, according to energy analysts.But in the U.S., oil production continues to boom, reaching a 28-year high last week, rising 78,000 barrels per day to reach 8.428 million — close to the 1970 all-time production high of 9.6 million barrels per day.Last week, the International Energy Agency (IEA) said that while OPEC production rebounded slightly from earlier this year...
  • Move Over OPEC and Russia, America is in the Oil-Price Driver's Seat

    05/19/2014 11:09:25 AM PDT · by ckilmer · 20 replies
    fool.com ^ | May 18, 2014 | Tyler Crowe
    Move Over OPEC and Russia, America is in the Oil-Price Driver's Seat By Tyler Crowe | May 18, 2014 | The sun may be setting on OPEC dominance (Source: lalabell68 via pixabay.com).Want to know something that you probably haven't considered, but will absolutely blow your mind?  Since 2011, two of the world's top 25 oil-exporting nations -- Libya and Sudan -- have seen production completely fall off a cliff, Export volumes from Venezuela and Mexico have been on a slow decline for a decade, and Russia and the West are in the midst of a Cold War-esque standoff over Ukraine....
  • The Obama Coalition Is About to Come Apart

    05/17/2014 7:38:44 AM PDT · by george76 · 47 replies
    American Spectator ^ | 5.16.14 | William Tucker
    He owes it all to the Keystone Kops of the leisure class. For the past decade the Democrats have managed to defy gravity by bolting together an unlikely coalition of the richest and poorest Americans. It’s no secret. Ever since President Bush’s re-election in 2004, the pattern has been clear. People making above $100,000 and below $40,000 vote Democratic. The people in the middle vote Republican. But now that top-bottom coalition is about to come apart, or lose its majority status at least. And the issue will be one that may loom larger than the debacle of Obamacare — the...
  • Krugman: GOP has reached point of no return on climate

    05/17/2014 4:03:09 PM PDT · by Oldeconomybuyer · 111 replies
    Houston Chronicle ^ | May 16, 2014 | By Paul Krugman
    ... Think of it this way: Once upon a time it was possible to take climate change seriously while remaining a Republican in good standing. Today, listening to climate scientists gets you excommunicated - hence Rubio's statement, which was effectively a partisan pledge of allegiance. And truly crazy positions are becoming the norm. A decade ago, only the GOP's extremist fringe asserted that global warming was a hoax concocted by a vast global conspiracy of scientists (although even then that fringe included some powerful politicians). Today, such conspiracy theorizing is mainstream within the party, and rapidly becoming mandatory; witch hunts...
  • WTI Vs. LLS: A Major Shift In The U.S. Oil Boom

    05/17/2014 1:00:18 PM PDT · by ckilmer · 1 replies
    nasdaq.com ^ | May 16, 2014
    For more than a century, the global oil and natural gas supply picture changed only a decade at a time. In the past half-decade, however, the picture has changed with startling speed. That has been particularly true in America. New technologies opened regional production in areas including North Dakota's Bakken Shale and Texas' Eagle Ford basin.
  • U.S. Tight Oil Reserves From Bust to Boom... to Bust Again?

    05/17/2014 1:22:08 PM PDT · by ckilmer · 3 replies
    energyandcapital ^ | Tuesday, May 13th, 2014 | Keith Kohl
    U.S. Tight Oil Reserves From Bust to Boom... to Bust Again?   By Keith KohlTuesday, May 13th, 2014Nowhere else in the world are people more used to the boom and bust of the oil industry than in Texas.I think it's safe to say that nearly all of us have heard of the historic gushers in the state's history — and the famous Lucas Gusher at Spindletop is arguably the most famous of them.That single exploratory well in Beaumont started it all for the Lone Star State.And while the image of 100,000 barrels of oil exploding out of the top of one...
  • OPEC Questions Sustainability Of North American Oil Boom

    05/16/2014 6:03:48 AM PDT · by mgist · 33 replies
    nasdaq ^ | 5/16/14 | graeber
    OPEC Secretary-General Abdalla el-Badri said oil supplies from North America “will play an important role in the coming few years,” but he cast doubt on their sustainability over the long term. Speaking May 15 in Moscow, el-Badri acknowledged that oil supply from producers outside of OPEC are expected to increase by more than 4 million barrels per day (bpd) between 2013 and 2018, with much of that coming from North America. But he cautioned that the addition of non-OPEC oil supplies to the global market “should be viewed as a periodic shift." "Tight oil adds depth and diversity to the...
  • Canadian oil can make world safer

    05/15/2014 8:00:22 PM PDT · by rickmichaels · 7 replies
    Toronto Sun ^ | May 15, 2014 | MARK MILKE
    Given Canada’s proximity to the United States, we tend to take our peace and security for granted. This comfortable distance from most of the world’s violence has led us to underestimate how useful Canada might be in defusing threats elsewhere using energy as leverage. Canadians might have a general sense that oil in particular matters to world affairs; but given that Canada has never been a superpower, it has never been responsible for the wider world order to ensure that oil (or natural gas) flows to countries that need it. Given recent developments at home and abroad, that blissful unawareness...
  • Obama Blocks Keystone To Start Energy Takeover

    05/13/2014 5:00:38 PM PDT · by jazusamo · 21 replies
    Investors.com ^ | May 13, 2014 | Scott Powell
    After successfully bringing more than 30% of the U.S. economy — the health care and financial services industries — under political control during his first term, President Obama made it clear last week that a priority of his second term is to go after the energy sector — another 10.5%. The purpose of the White House's orchestrated release of the National Climate Assessment on May 7 was to set the stage to drive energy markets and fossil fuels under the heel of more government regulation. Most Americans would celebrate knowing that the U.S. is on the cusp of oil and...
  • Wyoming is 1st state to reject science standards (standing up against AGW hoax)

    05/08/2014 3:24:44 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | May 8, 2014 3:11 PM EDT | Bob Moen
    Wyoming is the first state to reject adopting new K-12 science standards proposed by national education groups. The Wyoming Board of Education decided recently that the Next Generation Science Standards need more review after questions were raised about how the standards address man-made global warming. Wyoming is the nation’s leading coal producing state. …
  • Vietnam and China face off in South China Sea

    05/07/2014 10:03:42 AM PDT · by mojito · 27 replies
    Reuters ^ | 5/7/2014 | Nguyen Phuong Linh and Michael Martina
    Vietnam said on Wednesday a Chinese vessel intentionally rammed two of its ships in a part of the disputed South China Sea where Beijing has deployed a giant oil rig, sending tensions spiraling in the region. The foreign ministry in Hanoi said the collisions took place on Sunday and caused considerable damage to the Vietnamese ships. Six people sustained minor injuries, it said. "On May 4, Chinese ships intentionally rammed two Vietnamese Sea Guard vessels," said Tran Duy Hai, a foreign ministry official and deputy head of Vietnam's national border committee. "Chinese ships, with air support, sought to intimidate Vietnamese...
  • Unintended Consequences of Renewable Energy?

    05/05/2014 6:42:48 AM PDT · by rktman · 5 replies
    Canada Free Press ^ | 5/4/2014 | Dr. Ileana Johnson Paugh
    The D.C. metro was plastered last month with ads by GoWithCanada.ca, promoting the proposed 1,179-mile Keystone XL Pipeline, a 36-inch-diameter crude oil pipeline originating in Hardisty, Alberta, and extending south to Steele City, Nebraska. Described as “America’s best energy partner,” Canada provides United States refineries every day with 2.4 million barrels of crude oil, more than Saudi Arabia and Venezuela combined. The ads explained that “80% of Canada’s oil sands production capacity is owned by North American companies.”
  • Gulf of Mexico saturated with oil?

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

    05/03/2014 12:10:39 PM PDT · by Kaslin · 28 replies
    Townhall.com ^ | May 3, 2014 | Charles Payne
    em>"Probably for the next decade, the most dominate technology around the world will be coal..." -Jeff Immelt The fastest growing source of energy in the world last year was coal, and it is going to stay that way for a very long time. With that in mind, one has to wonder why President Obama has insisted on the gut-wrenching destruction of the coal industry that has costs thousands of jobs, and has sent electricity costs to all-time highs. This, combined with last month's report from the International Energy Agency, state that reaching the goal of carbon emission reduction would cost...
  • Largest coal producing state slams administration over EPA rules

    05/01/2014 8:46:19 AM PDT · by george76 · 11 replies
    Fox News ^ | May 01, 2014 | Kelly David Burke
    The American coal industry is accusing the Obama administration of using the Environmental Protection Agency to end the use of coal despite the president's claim of having an "all of the above" energy policy. ... the EPA's MATS rules, which go into effect in January 2016, will devastate coal production in America and .. about 60 gigawatts of coal-fired generation coming off-line .. One of Monseu’s issues is the way she said the administration is targeting coal, which currently fuels around 40 percent of the electricity produced in the U.S. "Increasingly we face a situation where policy is dictated not...