After a handful of false starts and accidents, Shell’s multi-billion dollar bet on offshore Alaskan oil and gas exploration was put on hold for 2014. And now a Coast Guard report claims the oil major prioritized financial interests over safety with its fateful decision to tow a drilling rig to Seattle for repairs on New Year’s… Keep reading →
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 →
The secondary laws needed to enact Mexico’s historic constitutional changes that break state oil company Pemex’ 75-year monopoly on oil & gas development will reportedly be released mid-March. Additional laws covering royalties and taxes, however, will not be finalized until September. [Reuters] The Nymex natural gas futures contract for March delivery closed at $6.149 per… Keep reading →
Shifting the United States’ energy sector to cleaner, more energy efficient systems is a long process and one that has been tackled in many ways throughout the years. In December, Senator Max Baucus, outgoing Chairman of the Senate Finance Committee released a staff discussion draft on proposed energy tax reform. There is a long history… Keep reading →
Energy issue positives from President Obama’s State of the Union address Tuesday night: Crediting surging domestic oil and natural gas production for adding jobs, creating economic growth and revitalizing the manufacturing sector. Recognizing that because of domestic output the U.S. “is closer to energy independence than we have been in decades.” Pledging to “slash bureaucracy” and streamline… Keep reading →
We saw an interesting evolution of Barack Obama as an energy president on display last night in his fifth official State of the Union address. You might say the president got real. He was more emphatic than ever about the reality of climate change. He let his affection for natural gas blossom into a full-fledged love… Keep reading →
As Beltway types rush to make their opinions known on Senator Max Baucus’ energy tax revision proposals before a response deadline at the end of this month, financiers are scrambling to get deals together that can support renewable energy projects already underway. Tax policy has been a major component of energy policy in the US… Keep reading →
ExxonMobil’s Ken Cohen highlights the tax payments made by some of the largest US-based oil companies, three of which – Exxon, Chevron and ConocoPhillips – appear in a list of the Top 10 corporate tax payers in 2012 compiled by 24/7 Wall Street. “In fact, ExxonMobil and Chevron are ranked #1 and #3 respectively, with… Keep reading →
Mexico’s legislature recently passed historic energy reforms designed to attract desperately-needed foreign direct investment to the inefficient nationalized energy sector for the first time since 1938. This was when then-President Lázaro Cárdenas seized fields from U.S. and British companies and made oil at all stages of production, refining and distribution constitutionally guaranteed legal property of… Keep reading →
Obama Touts Solar in SOTU: “We’re Becoming a Global Leader in Solar Too.”
By Roman KilisekPresident Obama proclaimed in his 2014 State of the Union address that his “all the above” energy strategy is working. He then directed the focus to one specific renewable energy source, stating the following: “Now, it’s not just oil and natural gas production that’s booming; we’re becoming a global leader in solar too. Every four… Keep reading →