The Federal Gulf of Mexico is one of the fastest-growing offshore markets with yet-to-be-discovered potential of about 48 billion barrels of oil, according to various US data. The latest EIA data allocate 17% of US crude oil production in 2013 to the federal offshore Gulf of Mexico. Could the future of the US oil industry… Keep reading →
Wind turbines that float 1,000 above ground for months at a time take advantage of higher wind speeds than ground-based units, but they cost a lot more. Nevertheless, floating windmills could be deployed in circumstances where cost is not a primary limitation, such as remote locations characterized by high power prices or military installations. [Inhabitat]… Keep reading →
The US EPA lifted a ban that prohibited BP from bidding on new leases in the Gulf of Mexico. BP was suing the EPA because of the ban. The British oil major may now participate in a lease sale being held this Wednesday. “After a lengthy negotiation, BP is pleased to have reached this resolution,… 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 →
The idea that global oil production was nearing its peak, only to plateau and then decline was a common view in the energy world for many years. The geophysicist M. King Hubbert predicted in the 1950’s that US oil production would peak in the 1970’s, a forecast that held true until technology allowed companies to… Keep reading →
Alaska Governor’s latest plans to advance Alaska’s long-sought natural gas pipeline calls for state ownership share in the state’s LNG export project. On January 10, 2014, Alaska Governor Sean Parnell announced a proposal to establish state equity partnership in the Alaska Liquefied Natural Gas (LNG) project. To this end, the state will terminate its 2008… Keep reading →
The EU Commission has intervened in construction of the South Stream gas pipeline on the grounds that deals signed between Russia’s Gazprom and seven European countries violate an EU law forbidding a company from acting as both pipeline operator and monopoly gas supplier. The EU energy commissioner will go to Moscow next month for talks… Keep reading →
What can cost a billion dollars more each week before it even exists? At the end of September, the Louisiana governor’s office projected that a new gas to liquids project announced by Royal Dutch Shell would cost an estimated $12.5 billion. Less than a week into December, the multinational energy giant cancelled its plans amid… Keep reading →
In a rare move, the UK government has come out in defense of BP regarding the US EPA’s decision to suspend the company from new government contracts. Members of the UK government filed a midnight brief on Monday saying the EPA’s decision could negatively impact jobs and pension funds invested in the UK super major.… Keep reading →
Four oil traders are claiming in a lawsuit that they can prove that BP, Statoil and Shell conspired with Morgan Stanley and trading firms such as Vitol to manipulate Brent crude prices. The traders say that the three oil companies placed orders to move markets, rather than buy crude. “Platts’ methodology ‘can be easily gamed… Keep reading →
