Once again, all eyes will turn to the Arctic this week as Canada sets to file its UN claim over an extended continental shelf in the Arctic Ocean. As a signatory to the UN Convention on the Law of the Sea (UNCLOS) in 2003, in order to obtain exclusive rights over the upcoming claim to… Keep reading →
Amid much hype and excitement, international oil companies that had been chomping at the bit for years to get into Iraq finally got their chance in 2009 when the country hosted its first post-Saddam Hussain oil field development bid rounds. After much confusion and a generally failed first bid round, the second resulted in several… Keep reading →
The noise level created by the debate over fracking in the US is reaching unprecedented levels. It seems everyone has a view on the controversial oil and gas development technology, some informed and many less so. A new video series features celebrities asking President Obama and several state leaders to ban the practice outright, but… Keep reading →
Opposition to hydraulic fracturing of shales has become ‘hip’, embraced by students, long-time activists and the usual Hollywood suspects. Unfortunately, this generates a lot more noise than signal, as claims ranging from false to outrageous get the most attention. Politicians regularly respond to hysteria, but frequently with gestures and profound announcements of concern, and only… Keep reading →
It made for great headlines, but the Syrian conflict never posed a serious risk to global oil supplies. Syria’s domestic production has dwindled and civil war ground exports down to virtually nothing last year. Escalating violence in Egypt, however, presents much more serious global oil market risk. Insurgents displeased with the ouster of Muslim Brotherhood… Keep reading →
Ryan Lizza’s New Yorker article about the Keystone XL Pipeline project is both insightful and depressing. The piece dissects the issue’s genesis and history, finding the proposed pipeline to be a climate change symbol seized by wealthy activists seeking to influence national politics, while advancing their own political ambitions. Unfortunately, in selecting Keystone XL opposition… Keep reading →
President Obama has made it clear that Syria crossed a “red line” by using chemical weapons against its own people. The proposed remedy is to execute a limited strike to change the behavior of the Assad government, but without putting troops on the ground, without regime change or without an international stamp of approval. Congress… Keep reading →
Global benchmark oil prices crept up to two-year highs over the past week or so as tensions in the Middle East and North Africa flare. US intervention in Syria currently awaits a congressional vote, so what will that decision likely mean for near-term price trajectory? It appears the geopolitical risk premium is mostly factored in… Keep reading →
Working in the energy sector is an inherently political activity. I once sat opposite a friend of a friend at lunch, and when she found out that I covered the energy business and then quizzed me on the industry’s practices, asked if I found people often wanted to hit me. I don’t find that, but the way a modern economy depends on the energy business means that everyone – along the entire spectrum of beliefs – also has opinions about its politics in ways that don’t necessarily reflect a subtle, shifting, complex reality.
Over the course of 2012, we’ve been focusing on the issues at play in energy politics, and have gathered them together in a special hub that can be found on Breaking Energy here. Keep reading →
A Brave New World Powered by Distributed Energy
By David CraneIn just a few years, Americans will soon produce the majority of the power they consume at their home or office, primarily through distributed solar arrays on their roof or over their driveways or parking lots. If they come up short, they can tap the battery in their electric car or an energy converting appliance… Keep reading →