Archive for the ‘Gas’ Category

BGS admits ignorance of UK fracking impact absent monitoring.

November 22, 2014 Gas, Oil

Observer: “Hundreds of government-funded boreholes are set to be drilled across Britain to try to persuade the public that a looming shale gas boom can be developed safely, the Observer has learned.”
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Shale narrative fizzles in China as clean energy and imports lead the way.

November 21, 2014 Gas, Oil

Bloomberg: “China has sharply cut its output target for shale, signaling the country’s drilling boom is fizzling out before it even gets going.”
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Ineos to invest £640m in UK shale gas exploration.

November 20, 2014 Gas

BBC: “Chemicals giant Ineos has announced plans to invest up to £640m in shale gas exploration in the UK. The company plans to use the gas as a raw material for its chemicals plants, including Grangemouth in Stirlingshire.”
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“Oil industry risks trillions of ‘stranded assets’ on US-China climate deal.”

November 19, 2014 Climate, Gas, Oil

Telegraph: “Brazil’s Petrobras is the most indebted company in the world, a perfect barometer of the crisis enveloping the global oil and fossil nexus on multiple fronts at once.”
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Why belief in looming US oil “independence” is based on myth.

November 18, 2014 Climate, Gas, Oil

Daniel Davis, Cavid Hughes, & Mark Lewis for the Huffington Post: “Media reports regarding the American crude oil industry have been uniformly positive in the past few months. Oil prices have dropped to their lowest level since 2010 and along with it prices at the pump.”
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Fracking boom means soaring demand for sand – and clouds of dust.

November 14, 2014 Gas, Oil

Bloomberg: “A little sand mine down the road didn’t seem like a big deal 17 years ago, when Alphonse Dotson picked the site for a vineyard in the Texas Hill Country.”
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Fracking “no silver bullet”, say EU science academies.

November 13, 2014 Gas, Oil

Guardian: “There are no scientific or technical grounds to ban fracking in Europe but it will not be a “silver bullet” to improve energy security or cut emissions, European science academies have said.”
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IEA: US shale boom masks threat to world oil supply.

November 12, 2014 Gas, Oil, Top Ten Signposts to Energy Crisis

Bloomberg: “The U.S. shale boom masks threats to global oil supply including Middle East turmoil, conflict in Ukraine and the difficulty of unconventional oil production beyond North America, theInternational Energy Agency said.”
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Ministers are hyping UK shale, says UK Energy Research Centre.

November 12, 2014 Gas, Oil

BBC: “Ministers have “completely oversold” the potential of shale gas, energy experts say. Researchers from the UK Energy Research Centre (UKERC) told the BBC promises of lower prices and greater energy security from UK shale gas were “hype” and “lacking in evidence”.”
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Rich countries subsidise fossil fuels by $88bn a year.

November 11, 2014 Climate, Coal, Finance, Gas, Oil

Guardian: “Rich countries are subsidising oil, gas and coal companies by about $88bn (£55.4bn) a year to explore for new reserves, despite evidence that most fossil fuels must be left in the ground if the world is to avoid dangerous climate change.”
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UK government intends to create a shale sovereign wealth fund.

November 10, 2014 Gas, Oil

Business Green: “A plan for new shale gas tax revenues to be deployed in a UK sovereign wealth fund is to be debated in the House of Lords on Monday.”
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“Shale drillers idle rigs from Texas to Utah amid oil rout.”

November 8, 2014 Gas, Oil

Bloomberg: “The shale-oil drilling boom in the U.S. is showing early signs of cracking. Rigs targeting oil sank by 14 to 1,568 this week, the lowest since Aug. 22, Baker Hughes Inc. (BHI) said yesterday. The Eagle Ford shale formation in south Texaslost the most, dropping nine to 197. The nation’s oil rig count is down from a peak of 1,609 on Oct. 10.”
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How Chevron uses black arts PR to whitewash its excesses.

November 7, 2014 Climate, Gas, Oil

Guardian: “Mike Aldax has been called a corporate prostitute, a propagandist for big oil, an apologist for pollution, Voldemort and more. But he’d rather you call him a journalist.”
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Opec weakness at low oil price means US shale drillers “might win”.

November 6, 2014 Gas, Oil

Bloomberg: “Here’s why the U.S. shale upstarts just might win a confrontation with Saudi Arabia as oil sinks: While the Arab nation is as flush with cash as ever, the finances of some fellow OPEC members are deteriorating quickly.”
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EOG is the only shale driller expected to generate cash this year and next.

November 5, 2014 Gas, Oil

Bloomberg: Headline: “How EOG, an Enron castaway, became the ‘Apple of Oil’.”As crude prices plunge below $80 a barrel and billions are erased from the market value of energy companies, there’s one U.S. oil producer that most analysts still think makes a good buy.”

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“Fracking’s mythology is single biggest threat to the solar revolution.”

November 5, 2014 Clean Energy, Climate, Coal, Commentaries, Finance, Gas, Oil

Jeremy Leggett in Recharge magazine: “There are days of late when the solar revolution seems to be an inevitability, and an imminent one.
When one reads that by 2020 an “energy trio” purchase of solar roof plus electric vehicle plus domestic battery will be able to pay for itself within six to eight years, while giving a 7% pre-tax return on investment, how could it be otherwise? Especially when that prognosis comes from a team of analysts at the world’s biggest private bank. Such developments, UBS says, will change the face of the energy industry.
But then there are days when the vehemence of the incumbency’s rearguard action is so daunting that one wonders if Big Energy can delay the solar revolution, maybe for years, or even derail it.”
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Texas oil town makes history as residents vote no to fracking.

November 5, 2014 Gas, Oil

Guardian: “The Texas town where America’s oil and natural gas boom began has voted to ban fracking, in a stunning rebuke to the industry.”
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Storage will soon replace simple cycle combustion turbine peaker plants.

November 5, 2014 Clean Energy, Gas

REW.com: “Power grids need extra generating capacity to work properly. For example, about 20 percent of New York State’s generation fleet runs less than 250 hours a year. Because they don’t run much, “peaker plants” are by design the cheapest and least efficient fossil generators.”
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“One Trillion Tonnes and $5 Trillion: Thoughts on IPCC Synthesis Report.”

November 3, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil

Mark Lewis for Kepler Cheuvreux (no url): “….The (IPCC) Synthesis Report states that if the world is to stand a better than even chance  of limiting warming  to no more than 2°C, only about one trillion tonnes of CO2 more can be emitted from 2011 onwards (the precise amount will depend on emissions trends for other GHGs).”
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CO2 budget 1.1 tn tons, & fossil-fuel subsidies exceed reductions spend.

November 3, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil

Bloomberg: “The world can only consume a fraction of the known deposits of fossil fuels if it’s to avoid the most dangerous effects of climate change, according to the biggest assessment of the issue.”
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