Archive for the ‘Gas’ Category

Fossil fuel divestment: climate activists take aim at Australia’s banks.

October 18, 2014 Climate, Coal, Gas, Oil

Guardian: “Climate change activists will aim to give the big banks a $200m bloody nose on Saturday, in the latest round of what has been an increasingly bitter campaign to force the divestment of companies with fossil fuel interests.”
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Chesapeake sells shale gasfields for $5.38bn

October 16, 2014 Gas, Oil

FT: “….a price that was significantly higher than analysts had expected. It has agreed a deal with Southwestern Energy, another US gas producer, to sell drilling rights on 413,000 acres of land in the Marcellus and Utica shales of Pennsylvania and West Virginia.”
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Russian gas shutdown would not cause blackouts, says EC.

October 16, 2014 Gas

Guardian: “A total shutdown of Russia’s gas supply to Europe will not cause blackouts this winter, the European commission said on Thursday, as Vladimir Putin warned of a potential repeat of 2008 when Russia turned off gas supplies to the Ukraine.”
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Fracking boom will not tackle global warming, analysis warns.

October 15, 2014 Climate, Gas

Guardian: “An unrestrained global fracking boom that unleashes plentiful and cheap gas will not tackle global warming by replacing coal and cutting carbon emissions, according to a comprehensive analysis that takes into account the impact on the rest of the energy supply.”
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Fracking company appeals against UK council planning rejection.

October 15, 2014 Gas, Oil

Guardian: “A fracking company is lodging an appeal against a county council decision to refuse it permission to explore for oil and gas. West Sussex county council’s planning committee refused the application by Celtique Energie for oil and gas exploration near Wisborough Green, a conservation area just outside the South Downs national park, in July.”
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“Welcome to the energy transition”: Times special report.

October 15, 2014 Clean Energy, Climate, Coal, Commentaries, Gas, Oil

The Times: “It is tempting to be selective and take sustainability success stories, such as the positive climate stance of President Obama, Rockefeller Foundation divestment, and record-breaking solar power generation in China and Germany, as evidence of a global tipping-point moment for the clean and green agenda.”
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UK fracking companies can use “any substance” under homes.

October 14, 2014 Gas, Oil

Guardian: “The UK government plans to allow fracking companies to put “any substance” under people’s homes and property and leave it there, as part of the Infrastructure Bill which will be debated by the House of Lords on Tuesday.”
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“Falling oil price raises questions on viability of shale”: FT.

October 14, 2014 Gas, Oil

FT: “Plunging share prices for US oil and gas companies in recent days have highlighted a potentially decisive factor in the looming crude price war: investor confidence.”
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Europe plots to escape high-priced Russian gas.

October 14, 2014 Gas

FT: “….Scars from Russia’s gas cuts in 2006 and 2009 run deep across eastern Europe and, at first glance, the continent appears to be in danger again this year thanks to a seemingly unshakeable dependence on Gazprom, Moscow’s gas export monopoly.”
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Mark Carney: most fossil fuel reserves can’t be burned.

October 13, 2014 Climate, Coal, Finance, Gas, Oil

Business Green: “The governor of the Bank of England has reiterated his warning that fossil fuel companies cannot burn all of their reserves if the world is to avoid catastrophic climate change, and called for investors to consider the long-term impacts of their decisions.”
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EU subsidies: for every € going to solar, 0.67 goes to coal.

October 13, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil

EU Press release: “The functioning of energy markets and the size and effect of government interventions has been the subject of debate for years. To date however, a consolidated dataset for government interventions in the power market of the European Union has been missing.”
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Australian government bullies ANU after divestment decision.

October 13, 2014 Climate, Coal, Finance, Gas, Oil

Guardian: “The government has been accused of bullying the Australian National University, after Joe Hockey criticised it for divesting from a number of fossil fuel companies.”
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Exxon accuses divestment movement of fuelling global poverty.

October 13, 2014 Climate, Finance, Gas, Oil

National Journal: “Exxon Mobil is wielding its public relations might against the fossil-fuel divestment movement, signaling that climate-change activists have struck a nerve at the world’s biggest publicly traded oil and gas company.”
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Carney on carbon-bubble risk: “vast majority of reserves are unburnable”.

October 12, 2014 Climate, Coal, Finance, Gas, Oil

Emerging Markets: “A public call by Bank of England governor Mark Carney that the vast majority of oil reserves should be considered “unburnable” if the world wants to avoid catastrophic climate change makes him stand out among mainstream figures.”
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“The price of oil has been tumbling. The cost of finding it has not.”

October 11, 2014 Finance, Gas, Oil

Economist: “Thas been a nerve-racking summer for oil companies. Since June the price of a barrel of Brent crude oil—the global benchmark—has slumped from $115 to $92, a decline of 20% and the lowest for more than two years.”
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“Is the shale boom built on a sea of lies?”

October 10, 2014 Gas, Oil

Tyler Durden on Zero Hedge: “One of, if not the biggest contributors to the improving US trade deficit and thus GDP (not to mention labor market in select states) over the past several years, has been the shale revolution taking place on US soil, which has led to unthinkable: the US is now the biggest producer of oil in the world, surpassing Saudi Arabia and Russia. Which is great today, but what about tomorrow?”
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“Here’s why shale oil stocks are tanking.”

October 10, 2014 Finance, Gas, Oil

Bob Pisani on CNBC: Why are shale plays getting hit so hard? The short answer is, because oil is dropping. West Texas Intermediate has gone from $105 to $85 in three months. But a large part of the problem has to do with the way shale drilling is financed.”
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Fracking setbacks dim Polish hopes for less Russian gas.

October 10, 2014 Gas

Bloomberg: “Poland’s ambition to achieve energy independence from Russia is being undermined by drillers giving up on the nation’s shale wells after disappointing results.”
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Gillian Tett, prescient heroine of the MBS bubble, sees no shale bubble.

October 9, 2014 Finance, Gas, Oil

Gillian Tett on the FT: This winter Jim Ratcliffe, the British billionaire founder of Ineos, the chemicals group, is trying to spark a local shale gas revolution. He has offered to share 6 per cent of future revenues with communities or landowners if they work with Ineos to develop the energy source – far more than anything offered in the UK before.”
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66 out of 73 US shale drillers report higher reserves to public than to SEC.

October 9, 2014 Gas, Oil

Bloomberg: “Lee Tillman, chief executive officer of Marathon Oil Corp., told investors last month that the company was sitting on the equivalent of 4.3 billion barrels in its U.S. shale acreage.” That number was 5.5 times higher than the one Marathon reported to federal regulators.”
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