This piece does a good job laying out the pros and cons of the most common crude oil transportation methods – rail, pipeline, truck and boat. “So it depends upon what your definition is for worse. Is it death and destruction? Is it amount of oil released? Is it land area or water volume contaminated? Is… Keep reading →
Some banks are sticking it out in commodities as several others exit the business amid onerous regulations and decreasing profitability. The banks that stick around – including Goldman Sachs – face less competition. [Bloomberg] Putin feels emboldened by the fact that major western oil companies remain committed to Russia despite the current souring of relations… Keep reading →
The largest US nuclear plant owner Exelon said it may shut nuclear facilities to shore up its balance sheet if profits do not improve this year. Historically low natural gas prices and renewable energy sources have decreased the price the utility receives for the power it sells. “Exelon owns 10 nuclear power plants, six of… Keep reading →
The revolution in North American energy development has been made possible by technological breakthroughs in decades-old methods of energy development, which has set this nation on the path to energy security, a concept unthinkable just a few years ago. The energy policies we choose today will determine if our nation will continue its march toward… Keep reading →
Up to 150,000 b/d of Bakken crude oil currently passes through Albany via rail and/or barge on its way to East Coast refineries and other destinations. Read Breaking Energy coverage of rail transport capacity expansion at the Phillips 66 Bayway Refinery in New Jersey here. Some are concerned about the crude oil transport increases Albany… Keep reading →
Various authorities have been playing regulatory catchup in the wake of unanticipated oil transport by rail increases and several associated accidents. Today’s big news is a US Transportation Department announcement that crude oil moving by rail will be subject to extensive testing for characteristics like vapor pressure and other properties that impact flammability. The testing… Keep reading →
High vapor pressures can increase the flammability of crude oil and Bakken grades were determined to have higher pressures than several other common international grades refined in the US, which raises rail transport safety questions. “Given the recent derailments and subsequent reaction of the Bakken crude in those incidents, not enough is known about this… Keep reading →
Northeast distillate inventories decreased by 19% in the past 3 weeks and are currently 50% below the 5-year average, according to the EIA. “Demand for heating oil has outpaced supply during January’s cold snaps, resulting in a drawdown of stocks… In addition to increased demand from consumers that regularly use oil heat, press reports indicate… Keep reading →
The writing has been on the wall since the disastrous train derailment last July near Lac-Megantic in Quebec and subsequent incidents involving the release of flammable liquids during railroad accidents. The issue of rail safety has also gotten a lot of press recently, as crude oil shipments by rail reportedly increased 400% since 2005. Now… Keep reading →
