BP and the US federal government are at odds over how much oil was actually spilled into the Gulf of Mexico as a result of the Deepwater Horizon incident in 2010: BP says 2.45 million barrels, the US government says 4.2 MM bbl. “Clean Water Act fines…range from a maximum of $1,100 for every barrel… Keep reading →
Investment bank Raymond James has updated its US oil and natural gas liquids production forecast, with new estimates suggesting that the country could produce enough oil to satisfy domestic demand in less than ten years’ time. “The U.S. could easily be approaching the ‘holy grail’ of net oil ‘energy independence’ toward the end of the… Keep reading →
If you don’t know what’s on your network at all times — if you can’t control what gets on — you put that network and the assets behind it at risk. That is true in any industry, but nowhere are the stakes higher than in critical infrastructure — the electric grid, oil and gas pipelines,… Keep reading →
An article published Saturday in the International Business Times points out two important links in the oil trading business: the link between a US credit downgrade or debt default and the value of the US dollar, and the link between the value of the US dollar and the price of a barrel of oil. “A… Keep reading →
Shell has selected Louisiana’s Ascension Parish as the potential site for its Gulf Coast natural gas-to-liquids facility. On September 24, 2013, Louisiana Governor Bobby Jindal and Royal Dutch Shell announced selection of Louisiana’s Ascension Parish as the site for a proposed Gulf Coast natural gas-to-liquids (GTL) plant, a cost of least $12.5 billion. Shell will also fund… Keep reading →
A regulatory framework that penalizes carbon dioxide emissions would improve nuclear’s competitiveness in the US, but greater policy clarity may be required for new nuclear investments to replace shuttered facilities like San Onofre and Yankee. Nuclear is not without its detractors, which have a laundry list of concerns, ranging from potential for terrorist attacks to… Keep reading →
Here is a roundup of some of this week’s more interesting energy deals: The BP-led Shah Deniz consortium signed a 25-year sales agreement for more than 10 billion cubic metres per year of natural gas from the second phase of development at the giant Shah Deniz field offshore Azerbaijan. Shah Deniz will deliver gas directly… Keep reading →
The White House may be looking for a new nominee for Federal Energy Regulatory Commission chairman to replace Ron Binz, who has been the object of fierce criticism, mostly from Republicans, but also from West Virginia (coal state) Democratic Senator Joe Manchin. [The Hill] The Guardian has helpfully laid out Ed Milliband’s proposal for UK… Keep reading →
California Air Resources Board has announced issuance of the first carbon offset credits for cap-and-trade program compliance. On September 17, 2013, the California Air Resources Board (CARB) announced issuance of 600,000 compliance-grade carbon offset credits for use in the cap-and-trade program. The offset credits will be issued through the Compliance Instrument Tracking System for state-issued carbon… Keep reading →
Some of the most promising climate-friendly innovations are already out there on the market, they just need to be brought to scale. And large companies can be instrumental in that role, as even minor modifications to production and distribution reverberate across massive global supply chains. “Even the most innovative companies find it difficult to innovate,”… Keep reading →
