Keyword: opec

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  • Russia's Energy Minister To Meet OPEC As Oil Price Falls More

    09/16/2014 6:59:39 AM PDT · by thackney · 9 replies
    Rig Zone ^ | September 15, 2014 | Reuters
    Russian Energy Minister Alexander Novak will meet OPEC officials on Tuesday in Vienna, his spokeswoman said, as oil's price fall piled pressure on Moscow's budget. The annual meeting had been planned long before oil fell below the $100 per barrel level critical for Russia's oil sales which account for 40 percent of state budget revenues. Russia suffered from a decline of oil production and prices this year and has cut its outlook for oil output as core Western Siberian fields become more depleted. The spokeswoman said that Novak and the officials from the Organization of the Petroleum Exporting Countries had...
  • Is Scotland Big Enough To Go it Alone?

    09/14/2014 7:49:39 PM PDT · by Lorianne · 68 replies
    Mises ^ | 12 September 2014 | Peter St. Onge
    In a curious coincidence, 2014 Scotland and 1994 Quebec have nearly the same population: about 5–6 million. About the same as Denmark or Norway, and half-a-million more than Ireland. Even on physical area Scotland’s no slouch: about the size of Holland or Ireland, and three times the size of Jamaica. The fact that Ireland, Norway, and Jamaica are all considered sustainably-sized countries argues for the separatists here. So small is possible. But is it a good idea? The answer, perhaps surprisingly, is resoundingly “Yes!” Statistically speaking, at least. Why? Because according to numbers from the World Bank Development Indicators, among...
  • ISIS sets fire to Iraq’s largest oil refinery

    09/13/2014 3:16:36 PM PDT · by sheikdetailfeather · 31 replies
    Legal Insurrection ^ | 9-13-14 | Amy Miller
    <p>Islamic State militants have set fire to Iraq’s largest oil refinery, escalating tensions in the region and raising questions about how much control ISIS could potentially gain over the world’s oil supply.</p> <p>This isn’t the first time this particular refinery has been attacked; it’s a favorite target of ISIS militants. They have attacked the refinery in the past as a way of securing fuel to smuggle to parties who fund their self-declared “caliphate” in northern Iraq and Syria.</p>
  • BP threatened with nationalisation in independent Scotland

    09/12/2014 9:58:34 PM PDT · by Tailgunner Joe · 22 replies
    yorkshirepost.co.uk ^ | September 12, 2014 | Bernard Ginns
    OIL GIANT BP has been threatened with nationalisation in an independent Scotland. Jim Sillars, the former SNP deputy leader, also warned that bankers’ “casino days” would be over. The prominent Yes campaigner yesterday attacked “scaremongering” business leaders, claiming they will face a “day of reckoning” if Scotland votes to break away from the UK. Mr Sillars accused large companies and banks of “subverting Scotland’s democratic process” by making high-profile interventions in the independence referendum debate. He said: “This referendum is about power, and when we get a Yes majority we will use that power for a day of reckoning with...
  • Energy Minister: Half of Scottish Oil Reserves Yet to Be Exploited

    09/12/2014 12:24:40 PM PDT · by Lorianne · 19 replies
    RIA Novosti ^ | 10 September 2014 | Mark Hirst
    Scotland’s oil and gas sector is facing a bright future as half of oil reserves remain to be exploited, the Scottish Government's Minister for Energy, Enterprise and Tourism Fergus Ewing said Wednesday, commenting on a new study. Earlier, world leading oil expert Professor Alex Kemp, by using detailed financial modelling, predicted significant discoveries in Scottish oil sector made over the next 30 years. “His new predictions – based on that modelling – show a bright future for Scotland’s oil and gas sector for decades to come – with 99 new economic discoveries over the next three decades,” Ewing told RIA...
  • OPEC Says World Will Need Less of Its Oil Next Year

    09/10/2014 7:45:13 AM PDT · by thackney · 13 replies
    Wall Street Journal ^ | Sept. 10, 2014 | BENOÎT FAUCON
    OPEC said demand for its crude oil will be lower than expected next year, with a surge in U.S. output potentially bringing its production to levels not seen since the past decade. In its monthly oil-market report, the Organization of the Petroleum Exporting Countries said it had lowered the estimate of demand for its crude by 200,000 barrels a day for 2015 and by the same amount for this year. As a result, markets will need 300,000 barrels a day less of OPEC crude next year, it said. OPEC's statement comes after the Brent oil contract—the most widely traded international...
  • Venezuelan socialism accomplishes the impossible, starts importing oil

    09/08/2014 8:03:07 AM PDT · by SeekAndFind · 16 replies
    American Thinker ^ | 09/08/2014 | Thomas Lifson
    The country claiming the world’s largest oil reserves is now reduced to importing oil. Walter Russell Meade of The American Interest compiles the information: The management acumen of Venezuela’s President Nicolas Maduro continues to amaze. Reuters: Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week, a document from Venezuela’s state-run energy company PDVSA seen by Reuters showed Venezuela was considering importing crude oil for the first time and could use Algerian light crude as blending stock to boost sales of its own...
  • Venezuela Set To Import Oil

    09/08/2014 5:30:51 AM PDT · by thackney · 18 replies
    American Interest ^ | September 6, 2014 | WALTER RUSSELL MEAD
    The management acumen of Venezuela’s President Nicolas Maduro continues to amaze. Reuters: Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week, a document from Venezuela’s state-run energy company PDVSA seen by Reuters showed Venezuela was considering importing crude oil for the first time and could use Algerian light crude as blending stock to boost sales of its own extra-heavy oil. “Yes, we are in talks,” Yousfi told Reuters when asked whether Algeria was planning to export crude oil to Venezuela. He declined...
  • The Enterprise Of Maligning Enterprise (And The Clergy Who Make Matters Worse)

    09/06/2014 11:16:29 PM PDT · by 2ndDivisionVet · 13 replies
    Townhall ^ | September 7, 2014 | Austin Hill
    "MCDonalds Mcdonalds, can't you see...Seven-forty is not for me..." The chant, recited through a megaphone, was being led by a man identifed as a Christian Pastor ("Reverend Charles" we'll call him), near a McDonalds restaurant in Detroit last week. Dozens of people in the parking lot uttered the chant with him, as the crowd sought to malign McDonalds restaurants while at the same time demanding a $15.00 per hour wage. "They want fifteen, they want a union, they want to be organized" Pastor Charles told the tv news crews. "The McDonalds corporation should allow that to happen immediately." The illogic...
  • Domestic crude begins to cut into Saudi sales volumes

    08/26/2014 12:22:14 PM PDT · by thackney · 30 replies
    Fuel Fix ^ | Robert Grattan | Robert Grattan
    Since about 2009 and until just recently, Saudi Arabia shipped discounted crude to the U.S. in growing volumes even as total U.S. waterborne imports fell. But while Saudi Arabia isn’t about to exit the U.S. market, cheaper domestic crude oils are beginning to displace Saudi imports. Daily U.S. crude imports fell from 11.8 million barrels in 2010 to 9.8 million barrels in 2013. Over roughly the same period, U.S. daily oil imports from Saudi Arabia rose from an annual average of just under 1.1 million barrels to about 1.5 million barrels, according to data from the U.S. Energy Information Administration....
  • Yemen government offers to resign - source

    08/23/2014 9:55:45 AM PDT · by Citizen Zed · 5 replies
    news 24 ^ | 8-23-2014 | Reuters
    Yemen's government offered on Saturday to resign within a month and to review an unpopular decision to cut fuel subsidies in an attempt to end protests by the Shi'ite Houthi movement, a government source told Reuters. Yemenis are unhappy about the government's decision in late July to cut energy subsidies to ease the burden on its budget deficit, a move which led to a rise in fuel prices. The government spent about $3bn on subsidies last year, nearly a third of state revenues. A previous attempt by the government to cut subsidies in 2005 led to unrest that left about...
  • Thanks to Obama, Iran’s Economy Is Booming

    08/12/2014 7:18:37 AM PDT · by SJackson · 6 replies
    FrontPage Magazine ^ | August 12, 2014 | Majid Rafizadeh
    Thanks to Obama, IranÂ’s Economy Is BoomingPosted By Majid Rafizadeh On August 12, 2014 @ 12:30 am In Daily Mailer,FrontPage | 1 Comment According to the latest statistics, IranÂ’s economy is being stabilized, with oil exports increasing by approximately 30 percent. This economic recovery has emboldened and empowered the ruling clerics in the Islamic republic who are fighting several proxy wars in the Middle East by funding and arming Hamas and sending troops to Iraq to ensure the power of the Shiite coalition of Prime Minister Nori Al Maleki and by supporting the Assad regime financially, politically, militarily, and through...
  • Will NATO's Turkey join Russia, or Muslim Militants, as Obama's "Pen and Phone" Military weakens?

    08/08/2014 8:04:04 AM PDT · by Graewoulf · 11 replies
    Graewoulf | August 8, 2014 | Graewoulf
    As the well-coordinated, Russian and Militant Muslim giant military pincer maneuver continues to rapidly succeed for control of the Eastern Mediterranean formerly Sovereign Nations, will NATO's Turkey soon have to decide if Obama's failed "Pen and Phone, Whack-a-Mole" Military Exceptionalism, is better or worse than Putin or ISIS? Control of the Eastern Mediterranean and the Suez Canal by Russia's Navy would allow the free flow of Muslim Militant's Oil to the Russian-controlled Ukraine Oil Pipelines to Europe, at a mutually beneficial price to Putin and ISIS, of course.
  • The U.S. Airstrikes in Northern Iraq Are All About Oil

    08/10/2014 12:16:08 AM PDT · by 2ndDivisionVet · 21 replies
    The New Republic ^ | August 8, 2014 | John B. Judis
    Last night, President Barack Obama announced that he was authorizing American airstrikes in Iraq. He described his intervention as a “humanitarian effort to help save thousands of Iraqi civilians who are trapped on a mountain” and as an effort “to protect our American personnel.” One word that he didn’t mention is “oil,” but it lies near the center of American motives for intervention. The United States is conducting airdrops to aid the Yazidis who have fled the advance of Islamic State militants, but it is conducting airstrikes around Erbil, which is to the west. There are American consular personnel in...
  • Natalie Tennant's Pro-Obama Past Comes To Haunt Her In West Virginia Race

    08/09/2014 4:46:22 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | August 8, 2014 | Matt Vespa
    Democrats from red states are feeling the heat. Their constituents don’t like Obama, or his polices, and they have to somehow convince them that they’ll be somewhat independent when it comes to fighting for their interests. Natalie Tennant, the Democratic candidate in West Virginia’s Senate race, is trying to disseminate that message of independene with this ad rebuking Obama’s energy policy. It was released at the end of July. She says that she’ll protect coal jobs in West Virginia and “stand up to leaders of both parties who threaten our way of life.” She then proceeds to turn off...
  • Russia: Apparent US Sub Driven From Barents Sea

    08/09/2014 8:30:12 AM PDT · by Oldeconomybuyer · 26 replies
    ABC News ^ | August 9, 2014
    Russian state news agencies say the country's navy claims to have driven away a submarine believed to be American that entered Russia's northern waters. The reports said the fleet sent several vessels and an anti-submarine Il-38 aircraft to drive the submarine away.
  • Exxon drilling in Russian Arctic shows sanctions on oil lack bite

    08/08/2014 8:16:12 PM PDT · by Citizen Zed · 4 replies
    reuters ^ | 8-8-2014
    On Saturday, Exxon Mobil starts drilling a $700 million well in the Arctic Ocean, showing that for all the talk of action against Vladimir Putin’s oil industry, the largest U.S. energy company is undeterred. As Russia’s relations with Europe and the U.S. deteriorated to the lowest point since the Cold War over the conflict in Ukraine, the European Union imposed a third round of sanctions last week, restricting the export of equipment used for offshore oil production. That doesn’t affect Exxon’s plans because the contract to hire the rig was signed before the measures were announced. Developing the Arctic is...
  • Christie vetoes bill aiming to ban fracking waste in N.J.

    08/08/2014 9:39:04 PM PDT · by MikeNJ · 3 replies
    The Star-Ledger ^ | August 08, 2014 | Brent Johnson
    TRENTON — For the second time in two years, Gov. Chris Christie has vetoed a bill that would have banned the dumping of fracking waste in New Jersey. Environmentalists and lawmakers from both parties had championed the measure, which would have prohibited companies from treating, discharging, disposing, and storing waste from hydraulic fracturing — the controversial practice of pumping water, sand, and chemicals deep underground to harvest natural gas. Though an increase in fracking in recent years has caused U.S. energy production to spike, critics worry that the practice could pollute drinking water supplies. And while fracking doesn't happen in...
  • Meeks Pushed for Iran Sanction Exemption After Azerbaijan Junket

    08/03/2014 9:10:02 AM PDT · by jazusamo · 6 replies
    NLPC | August 3, 2014 | Peter Flaherty
    There’s fallout from the July 27 Houston Chronicle exposé of a trip to Azerbaijan by 10 member of the House that violated House rules. The trip was ostensibly sponsored by nonprofit groups but was actually funded by oil companies BP, Conoco Phillips and SOCAR, the national oil company of Azerbaijan. According to the New York Post today: Rep. Gregory Meeks pushed to let an Iran-backed natural-gas project dodge US sanctions — after attending an illicit junket paid for by energy companies. Also from the Post: “Congressman Meeks went on a 2013 Congressional trip to Baku, Azerbaijan, subsidized in part...
  • A Dozen States File Suit Against New Coal Rules

    08/02/2014 7:55:44 AM PDT · by Oldeconomybuyer · 19 replies
    New York Times ^ | August 1, 2014 | By CORAL DAVENPORT
    Twelve states filed a lawsuit against the Obama administration on Friday seeking to block an Environmental Protection Agency proposal to regulate coal-fired power plants in an effort to stem climate change. The plaintiffs are led by West Virginia and include states that are home to some of the largest producers of coal and consumers of coal-fired electricity. The suit was filed in the United States Court of Appeals for the District of Columbia. The other plaintiffs are Alabama, Indiana, Kansas, Kentucky, Louisiana, Nebraska, Ohio, Oklahoma, South Carolina, South Dakota and Wyoming. The E.P.A. rule, announced by President Obama on June...
  • Beyond oil and reserves, Russia running on empty

    07/31/2014 10:06:50 PM PDT · by elhombrelibre · 26 replies
    Reuters ^ | 1 Aug 14 | Lidia Kelly and Katya Golubkova
    MOSCOW (Reuters) - For all the sanctions Western leaders can throw at Russia, the biggest threat to President Vladimir Putin's ability to back separatists in east Ukraine is something beyond his or their control: the price of oil. With Russia's $2 trillion economy heavily dependent on crude exports, oil prices are always closely monitored by the Kremlin, but the government is particularly wary now as tensions with the West mount and sanctions ratchet up. Such conflicts often push up crude prices, but as long as oil, which accounts for 40 percent of state revenues, remains above the average $104 per...
  • 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,...