Archive for the ‘Oil’ Category

Four reasons why US fracking may turn out to be a bubble.

July 23, 2014 Climate, Finance, Gas, Oil

Quartz: “Hydraulic fracturing—the oil drilling technique that unlocks oil and gas tightly trapped in rock formations—has been a recent bonanza for the US, creating economic growth, cheap fossil fuels and even changing the way the earth looks from space. But is it going to last?”

Residents “weep with relief” as council rejects Sussex fracking site.

July 22, 2014 Gas, Oil

West Sussex Gazette: “Villagers wept with relief as plans for exploratory drilling between Kirdford and Wisborough Green were thrown out by the county council today (Tuesday July 22).”

Fears slump in Russia could trigger new global economic meltdown.

July 22, 2014 Finance, Gas, Oil

Larry Elliot in the Guardian: “….The meltdown scenario can be easily sketched out. Every global downturn since 1973 has been associated with a sharp rise in the price of energy. Russia is one of the world’s biggest energy suppliers and is responsible for about one-third of Europe’s gas.”

Top geologist warns fracking hearing of the dangers of shale gas drilling.

July 22, 2014 Gas, Oil “Proposals for pilot fracking under consideration by West Sussex County Council have been attacked as “incomplete, incompetent and “disingenuous” by a leading academic.”

Kashagan delays mar outlook for Eni, Total and Shell.

July 20, 2014 Oil

FT: “Three of Europe’s largest oil companies could take a $1.5bn hit to earnings as a result of delays to Kashagan, the $50bn oil project in the Caspian Sea that has been bedevilled by hold-ups and cost over-runs.”

Solar displacing oil for lighting, en route to the rest of fossil fuels.

July 19, 2014 Change for Good, Clean Energy, Climate, Coal, Commentaries, Gas, Oil

Robyn Williams on ABC Radio National: “Jeremy Leggett describes kerosene lamps as the vampires of developing communities in Africa. They suck financial resources to provide pitiful light, noxious fumes, lost houses and schools due to accidents, as well as damaging emissions.”

California halts injection of fracking waste, fearing contamination.

July 18, 2014 Gas, Oil

Propublica: “California officials have ordered an emergency shut-down of 11 oil and gas waste injection sites and a review more than 100 others in the state’s drought-wracked Central Valley out of fear that companies may have been pumping fracking fluids and other toxic waste into drinking water aquifers there.”

The Economist on Shell, Exxon & carbon: “the elephant in the atmosphere”.

July 18, 2014 Climate, Commentaries, Finance, Gas, Oil

Economist: “In September 2013 a group of institutional investors with $3 trillion of assets under management asked the 45 biggest quoted oil firms how climate change might affect their business and, in particular, whether any of their oil reserves might become “stranded assets”—unusable if laws to curb emissions of carbon dioxide became really tight.”

Australia kills off carbon tax.

July 17, 2014 Clean Energy, Climate, Coal, Gas, Oil

Guardian: “Australia’s carbon price has been repealed, leaving the nation with no legislated policy to achieve even the minimum 5% greenhouse emissions reduction target it has inscribed in international agreements.”

“Supply setbacks will push oil price higher.”

July 17, 2014 Oil

FT: “A possible resumption of oil exports from Libya, as yet unhindered production in Iraq, and hopes of a nuclear deal with Iran, have caught the oil market on the hop.”

“A black mound of Canadian oil waste is rising over Detroit.”

July 17, 2014 Climate, Oil

NYT: “Assumption Park gives residents of this city lovely views of the Ambassador Bridge and the Detroit skyline. Lately they’ve been treated to another sight: a three-story pile of petroleum coke covering an entire city block on the other side of the Detroit River.

“‘Terrifying’ oil skills shortage delays projects and raises risks”: FT.

July 16, 2014 Gas, Oil

FT: “….The skills shortage in the oil patch is frequently cited as one of the biggest challenges facing the industry. In what has been called the “Great Crew Change”, the older generation of geoscientists and petroleum engineers who were hired before the sweeping lay-offs of the 1980s are now approaching retirement age and will soon leave the world of work.”

China requires EVs to be 30% of state vehicle purchases by 2016.

July 14, 2014 Clean Energy, Oil

Bloomberg: “China is mandating that electric cars make up at least 30 percent of government vehicle purchases by 2016, the latest measure to fight pollution and cut energy use after exempting the autos from a purchase tax.”

Iraq and Libya crucial to global oil supply in the short term: IEA.

July 11, 2014 Gas, Oil

FT: “Demand for oil is set to accelerate next year as the global economy gains momentum and will be met by rising supplies from the US and Canada, according to the west’s energy watchdog.”

China exempts new electric cars from tax.

July 10, 2014 Clean Energy, Climate, Oil

Guardian: “China will exempt electric cars and other types of “new energy” vehicles from purchase tax, the government said, as it seeks to reduce pollution and conserve resources.”

As China’s mood sours on the tar sands investor risk soars.

July 10, 2014 Finance, Oil

Financial Mail: “Barely two years since the national outcry over China’s aggressive push into Canada’s oil patch, some of the major acquisitions are looking messy to hopeless.”

Helsinki’s ambitious plan to make car use redundant in 10 years.

July 10, 2014 Clean Energy, Oil

Guardian: “The Finnish capital has announced plans to transform its existing public transport network into a comprehensive, point-to-point “mobility on demand” system by 2025 – one that, in theory, would be so good nobody would have any reason to own a car.”

Chairman of fracking firm Cuadrilla helps select DECC senior execs.

July 10, 2014 Gas, Oil “The chairman of fracking firm Cuadrilla has the power to hand-pick the board of non-executive directors at the Department of Energy and Climate Change, ClickGreen can reveal.”

Electric ‘Boris cars’ come to London, now that they work in Paris.

July 9, 2014 Clean Energy, Oil

Guardian: “….By any measure – including, judging from a random sample quizzed on the pavement last month, customer satisfaction – Paris’s Autolib’ electric car sharing scheme is looking like a success.” (more…)

“Shell underestimates risk for up to $77 billion of high cost oil projects.”

July 9, 2014 Climate, Finance, Gas, Oil

Carbon Tracker press release: “The Carbon Tracker Initiative (CTI) and Energy Transition Advisors (ETA) have today jointly published a thorough response to Shell’s stranded assets statement published on May 16th.”