EIA’s latest Annual Energy Outlook (AEO) projects a 56 percent increase in natural gas production by 2040, overtaking coal as the largest share of U.S. electric power generation. On December 16, 2013, the Energy Information Administration (EIA) released the AEO 2014 Early Release Overview presenting updated projections for U.S. energy markets through 2040. The AEO… Keep reading →
Berkshire Hathaway energy unit MidAmerican Power Holdings has agreed to buy wind turbines with an estimated value of more than $1bln from Siemens. IFM Investors has agreed to invest $1.3 billion in equity funding for the proposed three-train Freeport LNG natural gas liquefaction and export plant in Texas, sourced from a consortium of project finance ledners. The funding in question… Keep reading →
Former US Secretary of Energy Steven Chu has joined the board of carbon capture firm Inventys. The announcement is a coup for Vancouver-based Inventys, which sees big market opportunities in the US, specifically in the enhanced oil recovery space. Operators in mature oil formations, such as Texas’ Permian Basin, often use EOR – which can… Keep reading →
Rising oil output in the US has already begun to alter the traditional price relationship between US and international crudes, and continued production growth could lead to a domestic glut of certain grades, adding to pressure to lift restrictions on crude exports. The stunning turnaround in the US’ oil fortunes has made plenty of headlines,… Keep reading →
The global oil market is a strange place indeed and the surge in US crude production coupled with outdated regulations are creating counterintuitive trade dynamics. A majority of US crude imports come from Canada – 2.5 million barrels per day in September according to EIA data – but now the US also exports more crude… Keep reading →
Canadian government negations with energy industry representatives regarding a carbon emissions mitigation strategy have reportedly been underway for the past two years with little to show for the effort. A climate plan could improve the Keystone XL pipeline’s chances of being approved by the US government. [Reuters] The boom and bust cycle that characterizes PTC-dependent… Keep reading →
Once again, all eyes will turn to the Arctic this week as Canada sets to file its UN claim over an extended continental shelf in the Arctic Ocean. As a signatory to the UN Convention on the Law of the Sea (UNCLOS) in 2003, in order to obtain exclusive rights over the upcoming claim to… Keep reading →
Chevron is restarting a shale drilling campaign in Romania, which has met resistance from the local population. As many as 300 riot police are patrolling the site. [Natural Gas Europe] Platts’ Brian Scheid has written an interesting piece on the Department of Energy’s latest LNG export approval, for an additional 0.4 billion cubic feet per… Keep reading →
We are at a transformational moment in energy history. Just a few years ago, all energy projections forecast increased imports, increased scarcity, and increased natural gas prices. Today, we’ve shifted from scarcity to abundance. U.S. oil production has increased by 2.5 million barrels per day (B/D) since 2010. This year, the United States overtook Saudi… Keep reading →
Out With Bad Arguments – In With Energy Security
By Energy Tomorrow BlogThe long-delayed Keystone XL pipeline and whether President Obama will agree with a strong majority of Americans who believe that the full project is in the U.S. national interest landed on a couple of year-ending lists of top energy issues, here and here, no doubt reflecting the politics surrounding the pipeline’s five-year federal review. Much of politicizing has been fueled… Keep reading →