The recent memoranda of understanding (“MOUs”) entered between the Federal Energy Regulatory Commission (“FERC”) and the Commodity Futures Trading Commission (”CFTC”) made significant progress towards alleviating the long-time tension between the two agencies. On January 2, 2014, the FERC and the CFTC signed two MOUs on jurisdiction (“Jurisdiction MOU”) and information sharing (“Information Sharing MOU”)… Keep reading →
Many Americans lack knowledge on key energy issues, which could be problematic when they vote later this year for congressional representatives who will shape the country’s energy policies. “What is the solution to this ongoing problem of voters not having sufficient energy knowledge? It is information. Women and men need to understand both sides of the… Keep reading →
Baghdad’s promising offer on oil exports and revenues could provide vital breathing room to build a permanent revenue-sharing law, and Washington should encourage the Iraqi Kurds to sign on. On February 16, the Iraqi central government and the Kurdistan Regional Government (KRG) will hold another round of negotiations on oil exports and revenue sharing, the… 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 →
The secondary laws needed to enact Mexico’s historic constitutional changes that break state oil company Pemex’ 75-year monopoly on oil & gas development will reportedly be released mid-March. Additional laws covering royalties and taxes, however, will not be finalized until September. [Reuters] The Nymex natural gas futures contract for March delivery closed at $6.149 per… Keep reading →
A group of Stanford University researchers published the results of a methane leakage study on February 14 in Science that found volumes of the potent greenhouse gas released from US oil & natural gas development and infrastructure exceeds EPA estimates. “According to the new research, all told, the U.S. leaks about 14 million metric tons… Keep reading →
The US oil market has been moving on cold weather and the Keystone Pipeline’s southern leg activation, which is alleviating the glut of crude at the Cushing, Oklahoma storage hub. While most of the attention has been on whether President Obama will green light the northern portion of the pipeline, the southern portion was constructed… Keep reading →
Big news from the Commerce Department this week is that U.S. exports rose to a new high in 2013 and imports dropped to their lowest level since 2009 for the smallest U.S. trade deficit since 2009 – thanks largely to reduced oil imports due to growing domestic production and record exports of products made from petroleum. The Wall Street Journal (subscription… Keep reading →
Louisiana Democrat Mary Landrieu took over as head of the influential Senate Energy Committee yesterday, as outgoing Chairman Ron Wyden took the lead role at the Senate Finance Committee, which was vacated when Max Baucus was confirmed ambassador to China. “Landrieu confirmed that her signature bill to expand the amount of federal offshore oil-and-gas royalty… Keep reading →
Although yesterday’s EIA Weekly Natural Gas Storage Report recorded a smaller draw than analysts expected – 262 Bcf declined from storage, but expectations were around 271 Bcf – and the March NYMEX gas futures contract decreased in price as a result, storage remains historically low and the need to replenish it during injection season could… Keep reading →
