Oil

TransCanada To Nebraska: Altering Keystone XL Pipeline Route Would Be Unconstitutional

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In a signal of what might lie ahead in the contentious battle over the Keystone XL oil pipeline, the company behind the proposed project, Calgary-based TransCanada, suggested this week that legislative efforts underway in Nebraska to force a rerouting of the pipeline could prove unconstitutional.

The Nebraska legislature, at the urging of the state’s governor, opened a special session Tuesday during which lawmakers were expected to begin introducing myriad bills designed to tweak Nebraska’s pipeline siting and safety authority. For many lawmakers, the overarching goal is to force TransCanada to seek a different route for the pipeline, which as currently conceived would cut through a sensitive region known as the Sand Hills — part of the larger, multi-state Ogallala aquifer. Keep reading →

 /  Published November 2, 2011 at 1:15 PM

Cuba Sanctions Would Prevent Oil Spill Response

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US oil companies would be hobbled in their response to an oil spill from wells off the cost of Cuba, a Senate committee heard this week.

If there’s an oil spill from wells being drilled off the Cuban coast, US companies have sophisticated response equipment just 100 miles away – but couldn’t use it due to long-standing sanctions against Cuba. Keep reading →

 /  Published October 19, 2011 at 6:00 AM

Halliburton 3Q Sales Soar 40%, Beat Street

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Halliburton reported on Monday a stronger-than-expected 26% increase in third-quarter profit lifted by very strong demand in North America and a recovery in Canada and its other international markets. The company’s chief Dave Lesar said in a statement the recent drop in oil prices and declines in equity markets have been “unsettling to investors,” however he predicted the company will remain on its long-term course as its international businesses recover and activity improves. The world’s second-largest oilfield services company posted net income of $685 million, or 74 cents a share, compared with $545 million, or 60 cents a share, in the same quarter last year. This article is a linkout, for the full article go to: http://www.foxbusiness.com/markets/2011/10/17/shale-gas-helps-halliburton-profit-beat-street/#ixzz1b99R0DLy

 /  Published October 18, 2011 at 12:30 PM

How much tax do we pay on a gallon of gasoline?

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People are asking: How much tax do we pay on a gallon of #gasoline ? http://go.usa.gov/8N3 #energy #oil EIAgov

 /  Published October 14, 2011 at 9:15 AM

Unconventional No More: Huge Gas And Oil Plays Emerge

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Controversial estimates of potentially enormous new energy reserves highlighted by energy company strategists have sparked a wave of optimistic forecasts for fossil fuel development.

Natural gas from shale will soon cease to be considered “unconventional”, said vice-president and chief economist of industry group America’s Natural Gas Alliance (ANGA) Sara Banaszak. Keep reading →

 /  Published October 14, 2011 at 6:00 AM

From A Distance: US Output Grows, But Oil Imports Still Essential

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US production of oil and natural gas liquids from shale rock formations shows promise, but do not mean an end for American exposure to global oil markets.

“We are going to be a net importer for a long time,” Energy Information Administration deputy administrator Howard Gruenspecht told Breaking Energy on the sidelines of the US Association for Energy Economics Conference (USAEE) in Washington, DC this week. Keep reading →

 /  Published October 13, 2011 at 11:00 AM

Prize Awards Oil Clean Up Champions

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The US may be better prepared for future oil spills thanks to Elastec/American Marine’s grooved disc skimmer technology.

The group won first place today in the Wendy Schmidt Oil Cleanup X Challenge and was awarded a $1.4 million prize. Created by Wendy Schmidt after the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, the contest invited entrepreneurs, engineers, and scientists to compete in developing the most efficient method to capture crude oil from the ocean surface. Keep reading →

 /  Published October 11, 2011 at 4:00 PM

Keystone Pipeline: Why The Oil Sands Conduit Will Get Built

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Jobs and energy prices will ultimately push the Obama administration to approve the controversial Keystone pipeline, analysts say, despite the protests and environmental concerns over expanding production from Canada’s oil sands.

Stretching 1,600 miles from Alberta, Canada, to US refineries on the Gulf Coast, the Keystone pipeline project would boost U.S. consumption from the Canadian oil sands, now more than 1 million barrels a day, by about 50%. Keep reading →

 /  Published October 10, 2011 at 12:10 PM

Oil Spill Clean Up Prize Seeks To Award The Best And The Fastest

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If you made the mess, you should learn to clean it up, says Wendy Schmidt.

Schmidt is the president of the Schmidt Family Foundation which has funded the Wendy Schmidt Oil Cleanup X Challenge to award $1 million to the group that can clean oil up from water at both the highest Oil Recovery Rate (ORR) and the highest Oil Recovery Efficiency (ORE). Keep reading →

 /  Published October 7, 2011 at 6:00 AM

Groups Against Keystone XL Sue To Block Construction

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WASHINGTON — Environmental groups filed suit against the Obama administration on Wednesday, alleging that U.S. federal officials illegally allowed work on the Keystone XL oil pipeline to begin before the proposed project had been approved.

The Center for Biological Diversity, Friends of the Earth and the Western Nebraska Resources Council sued the State Department and the U.S. Fish and Wildlife Service on Wednesday for violating the National Environmental Policy Act by allegedly allowing construction of the pipeline to begin in Nebraska. Keep reading →

 /  Published October 5, 2011 at 2:45 PM
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