U.S. Trade Deficit Narrows in June – Thanks to Oil and Natural Gas Exports The Christian Science Monitor: WASHINGTON — An oil and gas boom helped drive the US trade deficit to a five-month low in June, according to federal data released Wednesday. Increased domestic energy production means Americans are buying less foreign oil and gas, and selling… Keep reading →
The latest blog in our “Top Things You Didn’t Know About…” series is brought to you by the Office of Energy Efficiency and Renewable Energy. Be sure to check back for more entries soon. 10. Offshore Wind Resources Are Abundant: Offshore wind has the potential to deliver large amounts of clean, renewable energy to fulfill the electrical needs of cities… Keep reading →
The energy industry – oil & gas sector in particular – is bracing itself for a massive wave of retirements over the short to medium term, which has been dubbed “The Great Shift Change.” As the industry prepares for this turnover, companies are looking to the next generation of candidates with skills ranging from finance,… Keep reading →
Shell spent billions of dollars and significant political capital to obtain the licenses and approvals required to explore for oil and gas off the coast of Alaska. A US appeals court recently ruled the original lease sale flawed, which threw new obstacles in the company’s path toward offshore Alaskan oil and gas development. The recent… Keep reading →
Yesterday’s Gulf of Mexico lease sale brought in just over $102 million in high bids, less than the two previous sales. Various news outlets described it in less-than-glowing terms. Oil & Gas Journal called the results “lackluster“, while Fuel Fix said the sale drew “tepid interest“. “This sale was not eye-popping, and may be closer to a… Keep reading →
Last week we published a piece on what are likely to be Congress’ top 6 energy policy priorities after the August recess, according to Frank Maisano, Senior Principal at law firm Bracewell Giuliani. Elias Hinckley, also a Washington, DC-based attorney specializing in energy, has offered a slightly different take on what we might see in energy policy… Keep reading →
A fire at the Motiva refinery – the largest in the US – took more than half its capacity offline for at least two weeks. “The fires come on top of a nagging vibration problem with a key pipe in the plant’s biggest crude distillation unit, or CDU, that is expected to keep it running… Keep reading →
The price of West Texas Intermediate crude had risen for five consecutive days as of yesterday afternoon – “the longest stretch of gains since April” – on news of escalating unrest in Egypt, as Brent hit a four-month high. A police crackdown on protests in Egypt has left more than 500 dead. [Bloomberg] Iran has… Keep reading →
Chesapeake is giving up its leases in New York state. “The decision, expected to be finalized next week, is a sign of energy firms’ growing frustration over operating in the Empire State, where most drilling is on hold, and also an indication of how Chesapeake is reining in spending after years of aggressive acreage buying… Keep reading →
An offshore natural gas well blew out yesterday in the Gulf of Mexico about 150 miles south of the Louisiana coast. All personnel were safely evacuated and no injuries were reported. Environmental group Natural Resources Defense Council took the opportunity to comment on risk associated with petroleum development and suggested that risk is too great… Keep reading →
