Oil


Though the Solyndra scandal cast a shadow on government loan guarantees for renewables, some significant players are saying a bigger problem is market-distorting subsidies for fossil fuels in some countries.

The Organization for Economic Cooperation and Development and its energy arm, the International Energy Agency, joined to publish an analysis of data on government subsidies for fossil fuel industries across the globe which concluded that governments should be phasing out these handouts. Keep reading →


GE and Shell have been close partners in overseas development, particularly in gas and oil drilling.

In this video, Shell Nigeria Exploration and Production Company’s Donald Sabatini talks about how Shell is using GE equipment to move from shallow to deeper oil and gas reserves in Nigeria and how important that relationship has been for development. Keep reading →


Energy exchange operator CME Group named a new managing director for its global energy business.

Gary Morsches was named as Managing Director for its energy business today. With 30 years of experience in the energy industry, Morsches will lead the company’s global energy complex which specializes in price transparency for energy commodities and includes trade in the West Texas Intermediate oil futures contract. Keep reading →


We are the only country in the developed world without an energy policy. Because of this, things like the Keystone pipeline on the Great Plains get put on the back burner. Every president since the 1980s has said he will get us off of Middle East oil, and none has succeeded. Our administration and congress are now making our country more dependent on Middle East oil — through a lack of drilling permits and the lack of courage to make a decision on this pipeline. We currently import just under 50% of our oil for domestic use. That is down from approximately 60% but is aided by a decrease in demand and an increase in ethanol — not long-term structural changes. Read more: http://www.foxbusiness.com/markets/2011/09/28/why-do-not-want-canadas-oil/?cmpid=partner_aol#ixzz1ZHUx1OkQ


Oil company Hess CEO John Hess took policymakers to task for failing to formulate a long-term national energy policy in an address to the IHS Herold Pacesetters Energy Conference.

“The US is in desperate need of an energy policy,” Hess said. “It’s fundamental to our economic growth, our environmental sustainability, and obviously our national security,” he said. Keep reading →


Low natural gas prices are likely to persist in the US, which could prompt a new wave of oil and gas asset deals, and potentially industry consolidation.

Robust drilling activity, ongoing productivity gains, a backlog of wells awaiting completion, continued joint venture capital infusions, and hedging activities are all helping to sustain an oversupply of natural gas in the US, said R. Dean Foreman, chief economist, planning and commercial for independent Talisman Energy at the IHS Herold Pacesetters Energy Conference. Read more on the conference: Drilling Advances Trigger Tight Oil Renaissance. Keep reading →


Technological advancements in oil and gas drilling have rejuvenated the US and Canadian onshore oil and gas sectors, but above-ground risks may impede rapid production growth.

Widespread use of drilling techniques such as horizontal drilling and hydraulic fracturing in shales and other geologic formations have shifted the outlook for North American natural gas supply, and proved more applicable to onshore oil production, as well. Keep reading →


Oil and gas supplies will struggle to keep up with world demand growth, making energy prices more expensive and more volatile in the long term, the head of Europe’s largest oil company has warned.

Peter Voser, the chief executive of Royal Dutch Shell, told the Financial Times: “We will have a lot of volatility ahead of us that we cannot avoid … for energy prices in general.” Keep reading →


Though its tempting for regulators and politicians in Washington to throw money at energy alternatives that steer the country away from classic fossil fuels and dependence on Middle Eastern oil, environmentalists and industry-insiders are increasingly worried about some of the touted alternatives.

Natural gas, originally introduced to as a cleaner greener gas, is now the subject of heated debate particularly because of the way it is extracted from the ground, in a process of hydraulic fracturing or “fracking.” Watch an industry video on how fracking works: Part 1 and Part 2. Keep reading →


With job creation taking center stage in American politics, the oil industry Wednesday made a pitch for drilling more widely. With looser restrictions, the industry says it could deliver 1.4 million new jobs, boost tax rolls by $800 billion, and increase domestic energy production almost 50%.

To hit those numbers, the industry would need to drill off the East and West Coasts, in waters off Florida’s Gulf Coast, in Alaska’s Arctic National Wildlife Refuge, and on most federal public land that’s not a national park. These areas are currently off limits to drilling, except for some public land in these regions. Keep reading →

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