The EIA’s Weekly Natural Gas Storage Report showed the largest inventory draw since the EIA started tracking the data in 1994. However, the withdrawal was slightly underwhelming, as analysts anticipated an even larger natural gas storage draw down resulting from increased heating needs during the recent extreme cold that blanketed much of the country. As… Keep reading →
The Energy Information Administration released a statement Monday projecting 2013’s CO2 emission’s rates to be 2% higher than the emissions in 2012. This comes on the heels of a decrease in emissions in 2012. The EIA attributes this increase to renewed coal consumption in the electricity power sector in 2013. The Obama administration retains the… Keep reading →
As the US tight oil and gas boom continues, reliance on Canadian crude oil and gas softens. Robust US production also sparked a vibrant export discussion, which could eventually see Canadian and US companies competing for customers and market share. “The protracted controversy over the Keystone XL Pipeline project has focused a great deal of… Keep reading →
A few years ago international oil companies were sharpening their drill bits in anticipation of re-entering Iraq’s post-Saddam Hussein oil industry, and now a similar situation is developing in Iran as plans to ease western-led economic sanctions progress. Potential investment opportunities in Iran – from upstream oil and gas to petrochemicals – have IOCs paying… Keep reading →
Google acquired smart thermostat startup company Nest for $3.2 billion in cash. Nest had been working on a reported $150 million financing round that would have valued the firm at $2 billion. CEO Tony Fadell – a former Apple SVP – said on the company’s blog “We’ve had great momentum, but this is a rocket… Keep reading →
Hedge funds are pulling out of bets that crude oil prices will rise in the short to medium term. With the market currently well supplied, investors are increasingly taking futures and options positions that could be profitable if oil prices decline further. “Money managers cut net-long positions, or wagers on rising prices, for benchmark West… Keep reading →
A proposed natural gas pipeline to supply the B.L. England power plant in Cape May County that would have run through the environmentally-sensitive Pinelands region was rejected last week. The power plant is switching from coal to natural gas and it’s unclear whether an alternative supply source has been identified. [New York Times] Kenya is… Keep reading →
During Tuesday’s State of American Energy address, API President and CEO Jack Gerard sketched out a more secure energy future for the United States – based on increased access to domestic oil and natural gas reserves, industry technology and ingenuity and a business/investment climate that allows development to go forward. Let’s focus on that last part,… Keep reading →
The Minnesota Public Utilities Commission will rule whether a solar project or natural gas plant should be constructed based on which facility is most in the public interest. A judge recently ruled the solar project was best for consumers. [Fresh Energy] Iran’s Supreme Leader Ayatollah Ali Khamenei recently said the nuclear talks “showed the enmity… Keep reading →
There were a handful high-profile hydraulic fracturing bans announced in Colorado and New Jersey communities in late 2013, and earlier in the year Vermont banned the controversial oil and gas well completion technique, the first US state to do so. However, Vermont and New Jersey don’t have significant natural gas resources, which makes the announcements… Keep reading →
