It was announced Friday afternoon, when no one was supposed to pay attention: after years of controversy, heated rhetoric, intense lobbying, and stiff opposition from some unlikely bedfellows, the Obama Administration decided in favor of the US oil and gas industry. With major geopolitical impact.
Entries in Energy (68)
Contributed by Casey Research: The last time Vladimir Putin was president, he laid the foundation to pull Mother Russia from the wreck of economic chaos to a world power once again. This time, he's ready to extend that influence to counter the West. His tools: Russia's abundant resources of energy, including uranium.
Contributed by Daniel J. Graeber of Oilprice.com. Growing security risks in the Middle East and North Africa are giving oil companies the jitters. But with seven of the 12 OPEC members experiencing some form of upheaval, the cost of doing business suggests members may need more than a little bit of luck to return to glory.
Contributed by Daniel Graeber of Oilprice.com: New US Interior Department Secretary Sally Jewell went green when she announced her department would get hybrid vehicles to advance a federal low-carbon footprint. The next day, she announced plans for a lease sale in the Gulf of Mexico – in line with President Obama's "all-of-the-above" energy policy.
Contributed by Jen Alic of Oilprice.com. In Kiobel vs. Royal Dutch Petroleum, the US Supreme Court has ruled that Nigerian nationals do not have the right to sue the oil company for alleged rights abuses overseas, dashing the hopes of Esther Kiobel, who filed her lawsuit against Shell in 2002 shortly before she became a US citizen.
Where German industrial companies plan to invest: a slew of losers out there, including Germany. But one country stands out ... and the reasons why!
Bubbles are a funny thing. Participants don’t see them. Outsiders shake their heads, then get sucked in themselves. Central banks create them but deny their existence. Money piles in on top of money. Risks no longer exist. Result: mayhem, capital destruction, devastation of the industry.... and a new beginning for the lucky ones. Take natural gas.
Suddenly No Solution For 56 Million Gallons Of Highly Radioactive Toxic Waste Leaking Into The Ground
Engineers have done a great job developing nuclear technologies to serve mankind’s many endeavors: medical devices, power generators, or formidable weapons to wipe out mankind and its many endeavors. Yet they haven’t figured out what to do with the radioactive, toxic materials these technologies leave behind. And we’re shuffling them to the next generation.
Some Mile Stones: Working gas in underground storage, the primary measure of whether gas is in over- or undersupply, has now dropped 2.1% below the five-year average for this week, and a dizzying 31.6% below the same week last year. But the price of natural gas - it doubled over the last 12 months - is still below the cost of production.
Contributed by Marin Katusa, Casey Research: Hugo Chávez was a highly controversial figure, calling George W. Bush a drunkard and a "psychologically sick man" and Tony Blair an "imperialist pawn,” and worse. But with Chávez no longer in the picture, things will change, and cheap Venezuelan oil will be able to flow into the markets, right? Wrong!
Contributed by Llewellyn King, executive producer and host of “White House Chronicle” on PBS. Hal Quinn, president of the National Mining Association, says coal in 2016 will again be the world’s largest source of energy. This may seem surprising when the use of coal in the US is in decline, edged out by cheap natural gas and increasingly strict regulations from the EPA.
Catastrophic nuclear accidents, like Chernobyl or Fukushima, are very rare, we’re told incessantly. But when they occur, they’re costly. So costly that the French government, when it came up with estimates, kept them secret. But the report was leaked: an accident at a single reactor in a thinly populated part of France could cost over three times France’s GDP.
Contributed by Chriss Street. The UK has been committed to green economics. Powered by subsidies, environmental and low-carbon businesses employ one million people and make up 8% of GDP. But with the nation heading into its third recession in four years, the public seems ready to pull the plug on green economics and join the “Dash for Gas.”
Contributed by John C.K. Daly of Oilprice.com. Hanford, Washington, was, along with Oak Ridge, Tennessee, one of the two Manhattan Project nuclear plants that provided fissile material for the bombs dropped on Japan. Now the past is coming back to haunt the site. Washington governor Jay Inslee called it a “perfect radioactive storm.”
Contributed by James Stafford of Oilprice.com. The oil and gas game is tricky for junior companies, but if played right, the pay-off can be massive. At a time when juniors are risking a lot in volatile venues in the Middle East and Africa, Canada’s Aroway Energy is planting its feet firmly in homeland soil and in conventional plays.
The California Division of Occupational Safety & Health just slammed Chevron with massive, record-breaking penalties related to the refinery in Richmond—the one that ended up in a fireball last August and caused 15,000 people to seek medical treatment. Purpose: to teach the mega-company an excruciatingly painful lesson. Alas....
Contributed by Jen Alic of Oilprice.com. Libya—awash with roving militias and undergoing a near-total evacuation of Westerners from oil-producing Benghazi—is doing its best to make cosmetic security changes in an atmosphere of growing uncertainty. But much of the country’s south and half of its border regions are not even under government control.
China has tried over the years to come to grips with its pandemic pollution, yet in Beijing, through a combination of factors, it reached catastrophic levels in mid-January and set another record. Result of the white-hot pace of economic growth. And of coal consumption: this year, China is set to burn more coal than the rest of the world combined!
Contributed by James Burgess of Oilprice.com. The US is obsessed with reducing its reliance on foreign oil, yet Amir Adnani, CEO of Uranium Energy Corp. in Texas, has stated that “the U.S. is more reliant on foreign sources of uranium than on foreign sources of oil.” But he has a new way of extracting uranium. Coming to a backyard near you.
Contributed by John C.K. Daly of Oilprice.com. America’s energy industry has a new threat – computer malware, an ominous portent for the U.S. power grid. Apparently, in October 2012 a computer malware virus invaded a turbine control system at a power plant when a technician “unknowingly” inserted an infected USB computer drive into the network.