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Keyword: opec

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  • Oil falls after OPEC comments imply no supply cut

    07/31/2015 9:19:50 AM PDT · by rickmichaels · 13 replies
    The Globe and Mail ^ | July 31, 2015 | Christopher Johnson
    Oil prices fell on Friday as concern over global oversupply intensified after oil producers’ cartel OPEC indicated there would be no cuts in production despite a huge global oversupply. The fall mirrored a general sell-off in commodities on persistent worries about demand in China, the world’s biggest user of energy and many key materials such as copper. China’s state planner said on Friday a slowing economy must not be allowed to morph into social risks as the volatile Chinese stock market fell again. “All commodities are down,” said Abhishek Deshpande, oil analyst at Natixis. “Commodities face weak demand, excess supplies...
  • Here's what the US would look like if all the Earth's ice melted

    07/28/2015 3:51:27 PM PDT · by rktman · 82 replies
    businessinsider.com ^ | 7/25/2015 | unknown
    If all the Earth's land ice melted, sea levels would rise over 200 feet. So what would that mean for the United States' coastlines?
  • EU tries again for compromise on deal to phase out coal aid

    07/27/2015 12:35:21 PM PDT · by Olog-hai · 3 replies
    Reuters ^ | Mon Jul 27, 2015 7:55am EDT | Barbara Lewis
    EU bosses are pushing to resolve a clash between industry and environmental policy with a new strategy to phase out funding to export coal technology to developing nations, ahead of a meeting of leading economic powers on the issue. The European Commission, the EU executive, urges tougher rules on when subsidies, known as coal export credits, can be used in a paper seen by Reuters, ahead of interim talks this week. Political pressure is growing to reach agreement on restricting the coal subsidies before United Nations climate change talks in Paris at the end of the year. But opposition is...
  • Ted Cruz Sells His Soul to to Frackers for $15 Million

    07/25/2015 7:59:06 PM PDT · by 2ndDivisionVet · 90 replies
    Politicus USA - Real liberal politics ^ | July 25, 2015 | Hrafnkell Haraldsson
    While Bernie Sanders and Hillary Clinton are bringing in a sizeable number of donations of under $100, Republicans have been going for the big money, like the huge score Ted Cruz just made from a pair of Texas frackers. Even so, on July 16, Newsmax made a big deal of Hillary receiving donations from wealthy individuals, with the headline, “Hillary Clinton’s Donations From Hedge Fund Titans Exceed Republicans.” Those Democrats are such elitists! You don’t want to be drinking milk when you read these things, at least not without a bib. And here the Texas Messiah, Ted Cruz, just hauled...
  • Three scientists investigating melting Arctic ice may have been assassinated, professor claims

    07/25/2015 12:27:05 PM PDT · by crusty old prospector · 68 replies
    The U. K. Telegraph ^ | July 25, 2015 | Robert Mendick
    A Cambridge Professor has made the astonishing claim that three scientists investigating the melting of Arctic ice may have been assassinated within the space of a few months. Professor Peter Wadhams said he feared being labelled a “looney” over his suspicion that the deaths of the scientists were more than just an ‘extraordinary’ coincidence. But he insisted the trio could have been murdered and hinted that the oil industry or else sinister government forces might be implicated. The three scientists he identified - Seymour Laxon and Katherine Giles, both climate change scientists at University College London, and Tim Boyd of...
  • This Is Why A Serious Decline In U.S Shale Plays Is Not Far Away

    07/24/2015 11:13:14 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 24-07-2015 | KingKurt
    The plunge in oil prices last year led many to say that a decline in U.S. oil production wouldn't be far behind. This was because almost all the growth in U.S. production in recent years had come from high-cost tight oil deposits which could not be profitable at these new lower oil prices. These wells were also known to have production declines that averaged 40 percent per year. Overall U.S. production, however, confounded the conventional logic and continued to rise--until early June when it stalled and then dropped slightly. Anyone who understood that U.S. drillers in shale plays had large...
  • Obama gives final approval to Arctic drilling

    07/22/2015 2:33:44 PM PDT · by jazusamo · 18 replies
    The Hill ^ | July 22, 2015 | Timothy Cama
    The Obama administration gave its final stamp of approval Wednesday to Shell Oil Company's application to drill oil and natural gas in the Arctic Ocean. Under the approval, Shell can start drilling exploratory wells as soon as its fleet arrives at its prospect in the Chukchi Sea, about 140 miles off Alaska's northwest coast. But the two “application to drill”s approved by the Interior Department’s Bureau of Safety and Environmental Enforcement (BSEE) included key restrictions that bar Shell from drilling in areas known to contain oil, since its safety equipment is not yet fully ready. The decision is a major...
  • Why Are Republicans Resurrecting Uber-Failed Green Energy Subsidies?

    07/21/2015 10:24:50 AM PDT · by E. Pluribus Unum · 17 replies
    Human Events ^ | 07/21/2015 | Seton Motley
    Thank goodness we last November gave the Republicans the Senate majority.Who besides the GOP would resurrect government money for ridiculous “green” “energy” – which is neither green nor energy? To the tune of tens (if not hundreds) of billions of dollars more down the juice-less rat hole. Oh yeah – every Democrat on the planet. Senate May Revive Expired Green Energy Tax SubsidiesThe Senate finance committee will be holding a markup hearing on expired tax subsidies members want to be revived for their constituents and campaign supporters, and this includes now defunct subsidies for green energy.A document released by...
  • We Interrupt Our Regular Trump Programming to Announce America’s Surrender To Iran...

    07/20/2015 10:20:18 PM PDT · by Steelfish · 6 replies
    National Review ^ | July 20, 2015
    We Interrupt Our Regular Trump Programming to Announce America’s Surrender to Iran and Global Governance July 20, 2015 At the New York Times website this morning, if you dig down under stories on the Donald Trump Circus, you will find a one-line link, buried beneath several other one-line links, to a report titled, “U.N. Vote on Iran Nuclear Deal Irks Congress.” Further burying the lede, you must scour down to a passing reference in paragraph four to find a glimmer of the real story: The Obama administration has already raced to the United Nations Security Council to spearhead action, today,...
  • The oil price war is set to get vicious (Saudi's now borrowing money)

    07/20/2015 8:25:12 PM PDT · by aimhigh · 35 replies
    Money Week ^ | 7/15/15 | John Stepek
    Saudi Arabia is pumping more crude oil than ever before. In June, it produced 10.6 million barrels a day. That’s the highest on record, . . . . .. And it’s pretty clear that Saudi Arabia is settling in for the long run. The country borrowed $4bn on the bond markets this week, selling bonds for the first time in eight years.
  • Nuclear deal: Saudis signal they'll act before Iran gets the money

    07/20/2015 3:58:21 PM PDT · by Isara · 23 replies
    CS Monitor ^ | July 17, 2015 | Taylor Luck
    Amman, Jordan — The nuclear deal that will lift tough sanctions on Iran is mobilizing Saudi Arabia to turn the tide against its regional rival in Yemen and Syria before it makes an economic recovery, military officials and analysts say. According to the sources, the military component of the Saudi offensive will include the use of special forces on the ground in Yemen, and a potentially widened use of Saudi and allied Sunni air power in Syria. The Saudis have signaled their intent to employ ground forces in Yemen previously, but have not done so. But the potential military initiatives,...
  • India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned

    01/23/2012 11:18:49 AM PST · by JohnKinAK · 29 replies
    Debka File ^ | 1/23/2012 | DebkaFile
    India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, debkafile's intelligence and Iranian sources report exclusively. Those sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets. By trading in gold, New Delhi and Beijing enable Tehran to bypass the upcoming freeze on its central bank's assets and the oil embargo which the European Union's foreign ministers agreed to impose Monday, Jan....
  • India, Iran mull over gold-for-oil for now

    01/10/2011 10:22:36 PM PST · by dollarbull · 5 replies
    The economic times ^ | 1/8/11 | Dheeraj Tiwari & Rajeev Jayaswal,ET Bureau
    NEW DELHI: India is determined to ensure steady crude oil supplies from Iran and is even considering settling payments with gold in the short term before the two countries agree on a mutually accepted currency and a bank to clear the transactions.
  • India, Iran mull over gold-for-oil

    01/10/2011 3:34:36 PM PST · by DeaconBenjamin
    Economic Times ^ | 8 Jan, 2011, 01.36AM IST, | Dheeraj Tiwari & Rajeev Jayaswal
    NEW DELHI: India is determined to ensure steady crude oil supplies from Iran and is even considering settling payments with gold in the short term before the two countries agree on a mutually accepted currency and a bank to clear the transactions."We have written a letter to NIOC (National Iranian Oil Company) asking it to suggest a bank where US sanctions are not applicable," a government official involved in the matter said requesting anonymity. Another official said India could settle crude oil import transaction using gold in the short term, while efforts to resolve the deadlock continue. An Indian delegation,...
  • Joule says “will go commercial in 2017″: solar fuels on the way

    07/17/2015 6:38:31 AM PDT · by ckilmer · 24 replies
    biofuelsdigest.com ^ | Jim Lane | March 23, 2015
    Joule says “will go commercial in 2017″: solar fuels on the way March 23, 2015 | Jim Lane     “Staged industrialization process” beginning; exotic yields from an exotic organism that uses CO2, water and nutrients and secretes ethanol or diesel. Former Total, Alcatel CEO Serge Tchuruk is now at the helm as the Joule team updates The Digest on the progress in New Mexico. For fans of the “solar renewable fuels” company Joule, there’s significant news from Bedford: the company has announced that it will undertake a “staged industrialization process”, to culminate in a 1000-acre production plant starting construction...
  • Al Gore: Obama's Arctic Drilling Plan 'Is Insane'

    07/17/2015 11:08:03 PM PDT · by nickcarraway · 16 replies
    Politico ^ | 7/17 | Nick Gass
    Former Vice President Al Gore offered up some rare criticism of President Barack Obama’s environmental policy in a recent interview, calling for a ban on all Arctic drilling and blasting the administration’s decision to allow Royal Dutch Shell to begin sinking exploratory wells in the oil-rich Chukchi Sea in the Arctic as “insane.” “I think that in his second term, he has done really quite a good job,” Gore said in an interview with The Guardian published Thursday. “Of course there are things I would change. I think Arctic drilling is insane. I think that countries around the world would...
  • As oil falls, Russia choked by military, social spending

    12/30/2014 11:49:11 AM PST · by elhombrelibre · 22 replies
    Reuters ^ | 30 Dec 14 | Darya Korsunskaya and Elena Fabrichnaya
    Russian authorities are facing some unpalatable options as they try to keep the economy afloat - unless they can persuade President Vladimir Putin to curb massive military spending. Officials fear that without limiting the defence budget, the government will have to raise taxes, increase the pension age or print money to prevent the state deficit from running out of control. Despite a crisis brought on by diving oil markets and Western sanctions, they believe Russia can muddle through next year provided the price of crude, its dominant export earner, holds near current levels. But even at $60 per barrel, the...
  • Shale Industry May Need A Complete Rethink To Survive

    07/16/2015 11:30:32 AM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 16-07-2015 | shale overhaul
    Shale reservoirs have become an important part of North American oil and gas supply and their development has begun a new era of oil and gas production worldwide. Advances in well drilling and completion technologies supported the rapid development of shale resources which contributed to the almost overwhelming success of U.S. shale in recent years. Globally, Argentina’s Neuquén Basin and China’s Sichuan Basin are the two front-runners to emulate the successes of the United States, with Poland, Algeria, Australia, Colombia, Russia, and Mexico still in earlier phases of exploration and evaluation, while Saudi Arabia also has plans for domestic shale...
  • OPEC, Get Ready For The Second U.S. Oil Boom

    07/14/2015 5:10:52 AM PDT · by ckilmer · 13 replies
    oilprice.com ^ | Mon, 13 July 2015 21:59 | | stafford
    What OPEC countries fear most is a follow-up technological revolution that will lead to a second oil boom in the U.S., and that fear is now being realized. A technological revolution spurred the U.S. oil boom that resulted in the greatest increase in domestic oil production in a century, and while that has stuttered in the face of a major oil price slump and an OPEC campaign to maintain a grip on market share, the American response could be another technological revolution that demonstrates that the first one was merely an impressive embryonic experiment.
  • Rejoice! Your gas will get a little cheaper once Obama lets Iran build a bomb

    07/13/2015 12:21:46 PM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 07/13/15 | Dan Calabrese
    It's the little things that matter. What can you do to top a deal in which socialists bail out even worse socialists, which we got this morning from the Greeks and the masters of the Eurozone? How about a deal in which a group of Islamic fanatics get the go-ahead to build a bomb from a guy who is either the most naive fool ever to grace the world stage or a complete Muslim sympathizer? HTML5 video is not supported! Maybe you can be both, come to think of it. But don’t despair! While the Iranians are building their bomb,...
  • The Multi-Trillion Dollar Oil Market Swindle

    07/13/2015 12:55:54 PM PDT · by bananaman22 · 2 replies
    Oilprice.com ^ | 13-07-2015 | Len
    In the past, I documented the overstatements by both the IEA and EIA in 2014 & 2015 in terms of supply, inventory and understatements of demand. Others also noticed these distortions and, whether intentional or not, they exist and they are very large in dollar terms. These distortions, which are affecting price through media hype and/or direct/indirect price manipulation, are quite possibly the largest in financial history. Putting numbers behind it, with worldwide production running some 95 million barrels per day, and assuming $55 per barrel for oil, the market for crude oil is about $5.2 billion per day. Each...
  • Why We Should Get Used To Low Oil Prices

    07/13/2015 11:03:11 AM PDT · by bananaman22 · 34 replies
    Oilprice.com ^ | 13-07-2015 | ABM
    The news from the IEA is not good. “World oil demand growth appears to have peaked in 1Q15 at 1.8 mb/d and will continue to ease throughout the rest of this year and into next as temporary support fades.” I don’t have great faith in forecasts but the data shows declining demand growth from late 2010 to the 2nd quarter of this year The weak global economy is the cause of low demand growth. The current debt crisis Greece and collapsing stock markets in China are the latest alarm signals.
  • Natural gas surpasses coal as biggest US electricity source

    07/13/2015 10:49:56 AM PDT · by Olog-hai · 12 replies
    Associated Press ^ | Jul 13, 2015 12:56 PM EDT | Tom Murphy
    Natural gas overtook coal as the top source of U.S. electric power generation for the first time ever earlier this spring, a milestone that has been in the making for years as the price of gas slides and new regulations make coal more risky for power generators. About 31 percent of electric power generation in April came from natural gas, and 30 percent from coal, according to a recently released report from the research company SNL Energy, which used data from the U.S. Energy Department. Nuclear power came in third at 20 percent. A drilling boom that started in 2008...
  • CALIFORNIA FACES THE SKYROCKETING GASOLINE PRICES BROWN FEARS

    07/13/2015 11:14:03 AM PDT · by lowbridge · 35 replies
    breitbart ^ | july 13, 2015 | chriss w. street
    GasBuddy started an emergencypetition on Friday calling on Governor Brown to obtain an EPA waiver to prevent gasoline price increases of at least 50-cents a gallon in Southern California and 30-cents in Northern California. As Breitbart News warned in December in “Brown Needs Oil Trains to Prevent Skyrocketing Energy Prices,: decades of anti-oil-production-policies in the Democrat-controlled state had made residents highly reliant on inconsistent supplies of oil from Iraq and oil trains from North Dakota. With supplies now breaking down, Californians are sure to be angry paying $5 a gallon for gasoline. GasBuddy noted that an “extraordinary convergence of fuel supply problems...
  • Donald Trump: Resistance Leader

    07/12/2015 3:52:19 PM PDT · by Mariner · 81 replies
    The Huffington Post ^ | 07/12/2015 5:32 pm EDT | Bill Schneider
    There's a reason why Donald Trump is stirring up the Republican race. The Republican Party has become a resistance movement, and Trump is leading the resistance. What it's resisting is the rise of the New America. That's the coalition of groups that were historically marginalized: immigrants, racial and religious minorities, gays, working women, single mothers, young people and "unchurched" Americans with no religious affiliation. It's a coalition united by a commitment to diversity and inclusion. And deeply opposed to symbols of exclusion like the Confederate flag, hostility to immigrants and homophobia. The coalition is growing in numbers as the U.S....
  • The Pope's new world order: Francis calls for the 'goods of the Earth' to be shared [Truncated]

    07/08/2015 12:05:10 PM PDT · by Up Yours Marxists · 82 replies
    The Daily Mail UK ^ | July 7, 2015 17:38 UTC | Simon Tomlinson
    Pope ends first leg of his three-nation South American tour with impassioned plea to safeguard the environmentDelivered message in Ecuador, which has one of the world's most diverse ecosystems but is also reliant on oil He said: 'As stewards of these riches, we have an obligation toward society and toward future generations' (...) 'As stewards of these riches which we have received, we have an obligation toward society as a whole and toward future generations,' Francis said. 'We cannot bequeath this heritage to them without proper care for the environment, without a sense of gratuitousness born of our contemplation...
  • Pope wraps Ecuador leg of South America trip after calling for new ecological, economic order

    07/08/2015 6:42:40 AM PDT · by Enlightened1 · 32 replies
    Pope Francis wraps up the first leg of a three-nation South American pilgrimage Wednesday after issuing an impassioned call for a new economic and ecological world order where the goods of the Earth are shared by everyone, not just exploited by the rich
  • Net petroleum product exports continue to increase

    07/08/2015 5:15:47 AM PDT · by thackney · 2 replies
    Energy Information Administration ^ | JULY 8, 2015 | Energy Information Administration
    Over the past decade, domestic refinery output of petroleum products has grown significantly while consumption has declined, resulting in a major increase in product exports. Petroleum product exports averaged 4.1 million barrels per day (b/d) in the first four months of the year, an increase of 0.5 million b/d over exports the same time last year. Product imports are also higher than last year, but to a lesser extent, leading to an increase in net petroleum product exports. Import and export patterns vary by region, with most exports leaving from the Gulf Coast (Petroleum Administration for Defense District 3), and...
  • The Myths About Fracking Are Many And Damaging

    07/08/2015 4:38:49 AM PDT · by SeekAndFind · 5 replies
    IBD ^ | 07/08/2015 | MERRILL MATTHEWS
    Much of the reporting on fracking is a confused mess, which must leave many people wondering exactly what's going on. One day there's a news story or newly released study implying that fracking is causing earthquakes or groundwater contamination; the next day there's a different study or story asserting there is no clear connection. No wonder last March the Gallup Polling Co. found that an equal number, 40%, supported and opposed fracking. One problem is that people, and especially reporters, frequently confuse fracking with wastewater injection. Hydraulic fracturing, or "fracking," has been around for decades. It's a process whereby water,...
  • Did the Catholic Church Endorse Fossil-Fuel Divestment?

    07/08/2015 1:14:46 AM PDT · by 2ndDivisionVet · 5 replies
    The Nation ^ | July 7, 2015 | Bob Massie, climate finance expert, senior advisor, Boston Common Asset Management
    In his breathtaking and magisterial encyclical on poverty and climate change, Laudato Sí, Pope Francis leaves no doubt about his intended audience. “Faced as we are with global environmental deterioration,” he writes, “I wish to address every person living on this planet.” In the United States, one group is paying particularly close attention to the pope’s call for structural change: the vast array of parishes, orders, dioceses, schools, universities, hospitals, and other institutions with which nearly 70 million Catholics—one in five Americans—are affiliated. All these institutions proclaim fidelity to the teachings of the pope and the Roman Catholic church, and...
  • DEADLINE! Government has Until Midnight to Save Colowyo ( Coal mining Jobs: Colorado )

    07/07/2015 3:06:14 PM PDT · by george76 · 27 replies
    ColoradoPeakPolitics ^ | July 7, 2015
    The community of Craig is holding its collective breath today, waiting on the feds to decide by midnight whether they will bother to challenge a court decision that threatens to shutter the Colowyo Mine. The Interior Department has gobbled up the entire period allotted to them to decide whether to appeal. We can only hope they have used this time wisely to decide in favor of the 200 plus workers whose jobs are on the line. And the lines in the proverbial sands have been clearly drawn. On one side is the radical environmental group WildEarth Guardians, who brought the...
  • Clinton emails may revive environmental group's lawsuit

    07/07/2015 10:03:26 AM PDT · by Brad from Tennessee · 2 replies
    Washington Examiner ^ | July 7, 2015 | By Sarah Westwood
    An environmental group whose request for records related to the Keystone Pipeline was reportedly hampered while Hillary Clinton served as secretary of state is considering taking the case to court for the second time. Ben Schreiber, climate and energy program director at Friends of the Earth, said his group has weighed the option of relitigation in the weeks since learning that Clinton's chief of staff, Cheryl Mills, had interfered in the agency's handling of Freedom of Information Act requests for Keystone documents. While Schreiber said Friends of the Earth received a number of emails involving Clinton's top aides when the...
  • Saudi’s targeting of market share does not appear to be working

    07/06/2015 6:11:40 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | July 6, 2015 | Matt Smith
    Thirty-four years ago today, Indiana Jones was the number one movie at the box office with ‘Raiders of The Lost Ark’. 1981 was also the year in which Beyoncé was born. These two reference points are just to highlight how long ago 1981 was (even if a swashbuckling Harrison Ford doesn’t seem that distant a memory). But while the world was a very different place back in 1981, one thing is the same now as it was then: the level of Saudi Arabian oil production. According to OPEC data, Saudi oil production reached 10.3 million barrels per day in May,...
  • Did China's Stock Market Crash Just End Economic Reform?

    07/05/2015 6:43:39 PM PDT · by BenLurkin · 22 replies
    forbes ^ | 7/05/2015 @ 9:59AM
    The beauty of markets is that they have a mind of their own. For the Chinese government, this has been a tough pill to swallow. Try as it might, the Chinese government was unable to arrest the decline in the domestic stock market last week. The central bank cut benchmark interest rates and the amount of money banks must keep with it on reserve. A government investment vehicle made it known that it was buying ETFs. The securities regulator eased regulations on margin trading and the Stock Exchange cut transaction fees. Despite this, the benchmark Shanghai Composite Index declined 12%...
  • Oil prices tumble after Greek no vote to bailout, China stock market turmoil

    07/05/2015 6:55:28 PM PDT · by 2ndDivisionVet · 54 replies
    Reuters ^ | July 5, 2015 | Aaron Sheldrick and Henning Gloystein
    Oil prices fell sharply in early trading on Monday after Greece rejected austerity measures demanded in return for bailout money and as China rolled out an unprecedented series of steps over the weekend to prevent a full-blown stock market crash. In a referendum on Sunday, Greeks overwhelmingly rejected austerity measures demanded in return for bailout money, putting in doubt its continued place in the single currency and pulling down the euro EUR= in early trading on Monday. In China, stock markets face a make-or-break week after officials rolled out a series of measures to prevent a full-blown stock market crash...
  • Red-faced Pluto Full of Surprises

    07/04/2015 6:56:24 PM PDT · by BenLurkin · 11 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 · 13 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...