Architectural firm SWA Group has proposed building a bike lane along the Keystone XL pipeline, which “could turn what is now a source of rancor into a tourist attraction”. Project costs could reach $400 million, factoring in designers, cultural experts, economists, engineers and “interpretive elements” along the route. [Bloomberg] Consol Energy’s sale of five coal mines… Keep reading →
Coal producers are under fire in the US from stricter environmental regulations and stiff competition in the face of low natural gas prices, but it is far from the end of the line for this cheap and abundant fuel source.
The US has been dubbed the “Saudi Arabia of coal” for good reason, with 237,295 million tons of reserves at the end of 2010, the country held over 27% of the world’s coal, according to the BP Statistical Review of World Energy. That represents more than 240 years of supply at end-2010 production rates. Keep reading →
Drilling for natural gas in Pennsylvania will continue to expand unabated if a pair of substantial independent energy firms have their way. Noble Energy and CONSOL Energy said today they have a partnership agreement in place that will boost their drilling rigs in the state’s Marcellus Shale from four to sixteen in the next four years.
Noble Energy will pay $1.07 billion for a 50% interest in CONSOL’s 663,350 net undeveloped acres of natural gas properties in Pennsylvania and West Virginia as part of a total deal worth $3.4 billion to CONSOL. Noble will pay development costs up to a $400 million cap each year, with funding linked to the price of natural gas. Noble is paying for the deal out of its cash and currently untouched revolving credit facility. Keep reading →
