Archive for the ‘Oil’ Category

“The Oil and Gas Weapon Won’t Work”: Davis & Leggett on Ukraine.

March 13, 2014 Commentaries, Gas, Oil

Lt. Col. Daniel Davis & Jeremy Leggett in The National Interest: “After many weeks of political chaos and bloodshed in Kiev, Moscow sent soldiers across the frontier into the Crimea on February 27, claiming it aimed to protect the Russian-speaking population.” (more…)

Norway’s state pension fund to be given a renewables mandate.

March 13, 2014 Clean Energy, Climate, Finance, Oil

WWF: “Today it was announced that the government of Norway would mandate the country’s sovereign wealth fund, the largest in the world, to invest in renewable energy, Prime Minister Erna Solberg said in Oslo this morning.”

“The energy transition tipping point is here, and there is no going back.”

March 12, 2014 Clean Energy, Coal, Finance, Gas, Nuclear, Oil

Chris Nelder on SmartPlanet: “I have waited a long time—decades, really—for a tipping point in the energy transition from fossil fuels to renewables beyond which there can be no turning back. Fresh evidence pertaining to many themes I have explored in this column over the past three years suggests that tipping point is finally here.”

Chevron cuts production growth target in face of rising costs.

March 11, 2014 Gas, Oil

FT: “Chevron, the US oil group, has raised sharply its expectation of future oil prices and cut its target for production growth, as it highlighted the steep rise in costs in the industry.”

Was 2013 the year of peak global fossil-fuel capex?

March 10, 2014 Change for Good, Clean Energy, Climate, Coal, Finance, Gas, Oil “Following on from our focus on 2012 capital expenditure (CAPEX) in our 2013 Unburnable Carbon analysis, we have reviewed the data from 2013. This reveals some interesting trends.”

“Armchair warriors wage phoney war”: US gas exports can’t help Ukraine.

March 10, 2014 Gas, Oil

Derek Brower in Petroleum Economist: “From London to Washington politicians and commentators have arrived at a solution to their Putin problem. Russia is weak, their argument claims, because it depends on oil and gas revenue. Unleash American energy on the world and watch the Kremlin crumble.”

Kashagan operators face huge fine for sour gas leak.

March 7, 2014 Gas, Oil

FT: “The government of Kazakhstan will seek $737m in damages from the consortium of international companies developing the Kashagan Caspian Sea oilfield, in the latest blow to the $50bn megaproject.”

“Carbon bubble poses serious threat to UK economy, MPs warn.”

March 6, 2014 Clean Energy, Climate, Coal, Gas, Oil

Guardian: “Stock markets are inflating a “carbon bubble” by overvaluing companies that produce fossil fuels and greenhouse gases, and this poses a serious threat to the economy, an influential committee of UK MPs has warned.”

“Production from shale is not a revolution; it’s a retirement party.”

March 5, 2014 Gas, Oil interview with Art Berman: “There’s another side to the story of the relentless US shale boom, one that says that some of the numbers are misunderstood, while others are simply preposterous. The truth of the matter is that the industry has to make such a big deal out of shale because it’s all that’s left.”

“Brakes put on UK shale gas revolution”: FT.

March 5, 2014 Gas, Oil

FT: “When the British Geological Survey doubled estimates for the shale gas reserves in the Bowland Basin, it raised expectations of a US-style shale gas revolution in the UK.”

GOP: US shale exports can wean EU off Russian gas.

March 4, 2014 Gas, Oil

FT: “The US should make it easier for Europeans to buy American natural gas in order to reduce its allies’ dependence on Russian energy, the top Republican in the House of Representatives has said.”

BHP CEO warns on shale gas cost ….& fossil-fuel divestment.

March 4, 2014 Climate, Coal, Finance, Gas, Oil

FT: “Relying on shale gas would be a “very expensive” solution to meeting the world’s growing demand for energy, the chief executive of BHP Billiton, the mining, oil and gas group, has said.”

“Norway spurs rethink on fossil fuel companies”: FT.

March 4, 2014 Climate, Coal, Commentaries, Finance, Gas, Oil

FT: “Norway’s decision to set up an expert group to see if its $840bn oil fund should stop investing in fossil fuel companies has triggered a wave of speculation since it was announced last week.”

“If you think the financial crisis was bad, consider this.”

March 3, 2014 Clean Energy, Commentaries, Gas, Oil

MeJudice & You-Tube: Short video interview with Jeremy Leggett on the coming energy crisis, as described in The Energy of Nations, and the potential for a road to renaissance. All in the context of recent woes at Shell and other oil and gas companies.

State Department is downplaying KXL impact: Carbon Tracker.

March 3, 2014 Climate, Oil

Huffington Post: “The State Department’s final environmental impact analysis for the proposed Keystone XL pipeline downplays the significance the pipeline would have for development of the Canadian tar sands, according to a new analysis from a United Kingdom-based group.”

BP: we agree all reserves probably can’t be burned.

March 1, 2014 Climate, Gas, Oil

BP annual report extract: “We agree that burning all known reserves would probably cause global temperatures to rise by more than 2°C – and that addressing this issue will require the efforts of governments, industry and individuals.” (more…)

Norway’s oil fund to debate stopping all fossil-fuel investments.

February 28, 2014 Change for Good, Climate, Coal, Finance, Gas, Oil

FT: “Norway is to debate whether the world’s largest sovereign wealth fund – funded by petroleum revenues – should stop investing in oil, gas and coal companies.”

KXL delayed for more than a year, antagonists agree.

February 28, 2014 Oil

John Dizard in the FT: “The enviros and the energy industry’s political people on K street in Washington rarely see matters the same way, butboth groups now privately agree that the proposed Keystone XL pipeline from Alberta’s oil sands to the US Midwest isdead for more than a year, and probably much longer.”

“Dream of U.S. oil independence slams against shale costs.”

February 27, 2014 Gas, Oil

Bloomberg:  ”The path toward U.S. energy independence, made possible by a boom in shale oil, will be much harder than it seems. Just a few of the roadblocks: Independent producers will spend $1.50 drilling this year for every dollar they get back.” (more…)

“Beginning of the end” as oil companies cut back on spending?

February 26, 2014 Gas, Oil

Gail Tvarberg on The Energy Collective: “Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies are finding their profits squeezed, and have recently announced plans to sell off part of their assets in order to have funds to pay their dividends.”