Despite sanctions that have crippled Iran’s oil exports, the country continues to pump at nearly pre-sanction levels.
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For the US, aspiring to be merely energy independent is “too modest,” says Manhattan Institute Adjunct Fellow Mark Mills.
Instead, the US should collaborate with Canada and Mexico to not only fulfill domestic needs but make North America the world’s largest energy supplier, Mills says in a new report, “Unleashing the North American Energy Colossus.” Keep reading →
The floor of the New York Mercantile Exchange in lower Manhattan is one of the rare places the complex interplay between the ‘real’ economy of infrastructure and goods and the financial economy of data sets and dizzying amounts of money can be seen in action.
In an increasingly computerized trading world, floor traders at Nymex, since 2008 part of the globe-spanning exchange powerhouse CME Group, are an increasingly rare breed involved in an increasingly unusual occupation. But for pure dramatic representation of the financial economy at work, nothing conveys the reach and reality of the trading universe like a busy pit moving contracts in real commodities. Keep reading →
U.S. Energy Information Administrator Guy Caruso (R) compares notes with U.S. Chamber of Commerce Institute for 21st Centery Energy Managing Director Karen Harbert (C) as Deutsche Bank Chief Energy Economist Adam Sieminski looks on before they testify to the House Select Committee on Energy Independence and Global Warming about ‘The Future of Oil’ June 11, 2008 in Washington, DC.
As US oil production from shales grows, it may make sense to allow some oil exports in specific circumstances, says the new head of the Energy Information Administration. Keep reading →
The latest round of talks over Iran’s nuclear program are set to begin Monday in Moscow, but analysts are not expecting a breakthrough that would avoid sanctions in coming weeks.
The oil and gas industry can bring new resources to bear in its battle against critics and efforts to achieve a “social license to operate.” A small cleantech firm has developed patented technology that allows producers to recycle up to 100% of their well flowback and produced water during hydraulic fracturing operations.
“We use and have invented an advanced oxidation process to treat water on the front end of the [fracking process] and at the flow rate of the [fracking process], eliminating liquid biocides and chemicals for bacteria growth and scale inhibition, and allowing 100% recycling of the flowback and produced waters,” said EcoSphere Technologies Chairman and CEO Charles Vinick said during a recent radio appearance. Keep reading →
America’s oil refiners are preparing to intensify efforts to press the federal government to drop mandates to encourage the development of advanced biofuels and counter the Obama administration’s “war on fossil fuels.”
The Renewable Portfolio Standard requires that 36 billion gallons of renewable fuel be blended with petroleum-based products by 2022 under the Bush-era Energy Independence and Security Act of 2007. Keep reading →
The Middle East holds a little less than half the world’s proven natural gas reserves, but several countries in the region are facing gas shortages. In fact, many of these fossil fuel titans are pursuing solar power and other alternative energy technologies to supplement their soaring power generation requirements.
The International Energy Agency discusses this issue in its recently released Medium-Term Gas Market Report 2012 and says that – with the exception of existing export contracts – incremental medium-term production will exclusively serve domestic markets in the Middle East. Keep reading →
An Iranian war-boat fires a missile during the ‘Velayat-90’ navy exercises in the Strait of Hormuz in southern Iran on December 30, 2011.
The fact that some of the world’s largest oil and gas reservoirs are 100% owned and operated by national oil companies could benefit international oil companies if economic sanctions imposed on Iran constrain the country’s petroleum production, Moody’s Investors Service said in a recent note. Keep reading →
Oil prices fell more than $2 a barrel Monday, hitting a five-month low as worries over Greece and JPMorgan’s big loss spooked traders.
U.S. crude sank below $94 a barrel early Monday before recovering slightly. Keep reading →
