The US has gone from a net chemical importer in 2011 to an exporter with anticipated export revenue of almost $30 billion by 2018, thanks in large part to comparatively cheap natural gas and power prices. “US groups such as ExxonMobil, Dow Chemical, Chevron and Phillips 66 are among the leaders in investing in new… Keep reading →
Consulting behemoth IHS has published the results of the third in a series of studies on how the US unconventional oil and gas boom is impacting the country’s economy. The study, America’s New Energy Future: The Unconventional Oil and Gas Revolution and the Economy – Volume 3: A Manufacturing Renaissance, found that across the value chain,… Keep reading →
An industry economic analysis report estimates that BLM’s revised draft of regulations governing hydraulic fracturing on public lands would cost at least $345 million. On July 22, 2013, the Western Energy Alliance and the Independent Petroleum Association of America released an analysis of compliance costs of the Department of Interior’s (DOI) revised draft rule… Keep reading →
The Northeast has joined Texas as a hotbed for energy lawyers, driven by our nation’s insatiable demand for energy and the lack of a coherent national energy policy. In addition, the industry is moving from a time-worn regulated monopoly model to free-market competition – complicated by climate change concerns on the one hand and the… Keep reading →
Illinois’ Hydraulic Fracturing Regulation Act establishes strict environmental protections and sets the stage for significant economic development in the state. On May 31, 2013, Illinois Senate passed the Hydraulic Fracturing Regulation Act (SB 1715) by a vote of 52-3, one day after it passed the House by a vote of 108-9. The legislation, developed with… Keep reading →
While various wastewater recycling technologies have the same ultimate goal – to give drillers a cost-effective means of reusing flowback and produced water – there is no clear consensus on how to achieve it. Some companies use chemicals, others use electrical pulses. Some see removal of solids as mandatory, some see it as costly and… Keep reading →
The ongoing debate about whether the US should permit additional LNG exports to countries with which it does not have a free trade agreement (non-FTA) is far from being just a question of whether we have enough gas to remain well-supplied domestically and export to other countries. The LNG export issue touches upon prospects for… Keep reading →
Moody’s analysts are have weighed in on prospects for liquefied natural gas (LNG) exports from the US, forecasting that chemical companies and utilities could see some negative impact from higher domestic natural gas prices, but not enough to bring down their credit ratings.
Moody’s expects US LNG export capacity to rise to 6.3 billion cubic feet per day by 2020 – equivalent to 178.4 million cubic meters per day, compared with global exports totaling 330.8 billion cubic meters per day in 2011, according to BP’s Statistical Review of World Energy. “We do not expect the volume of exports from North America will have a significant impact on the global LNG trade during this decade,” the rating agency said in a report, The Prospect of US LNG Exports Influences Pricing and Gas Markets Worldwide. Keep reading →
International chemical firm and major energy customer BASF has invested $30 million in biomass technology firm Renmatix as companies around the world continue to ramp up research and development of alternative bio-based fuels and chemicals for industrial purposes.
Renmatix’ technology allows for the production of industrial sugar from wood, cane trash or straw, the American firm said in announcing the new investment. The privately-held firm already operates a facility in Georgia, where it has the capacity to turn three tons of cellulosic biomass into sugar daily. The BASF investment will allow Renmatix to boost production to industrial scale and become more efficient, Renmatix CEO Mike Hamilton said. Keep reading →