When it comes to the question of whether pipeline or rail is safer for moving crude, the answer depends somewhat on the source, but pipelines are broadly understood to come out ahead, not only on safety, but also on cost and efficiency. However, newfound oil abundance in areas not traditionally associated with oil and gas… Keep reading →
Even if environmental opposition to the Keystone XL Pipeline manages to prevent its construction, it will fail to achieve environmental groups’ objective of preventing development of the oil sands production at the origination point, according to Charles Dewhurst, US Natural Resources practice leader for accounting and consulting firm BDO. “Environmental groups are very concerned that… Keep reading →
A new study from consultancy IHS Cera has concluded that construction of the Keystone XL pipeline would not have a material impact on US greenhouse gas emissions, in part because the replacement for volumes from Canadian oil sands would most likely have the same carbon footprint. Breaking Energy has reported on comments in the past… Keep reading →
The tight oil being developed in North America is certainly not the lowest-cost oil in the world. But of the opportunities available to major oil companies, relatively low cost is just one of many advantages it offers over other sources of production. “The shale revolution has changed the competitive landscape, because every investment decision we… Keep reading →
Major Norwegian pension fund Storebrand recently “divested its financial interests in 13 coal extractors and six companies heavily involved in oil sands extraction.” The financial services company instituted a “no loan” policy for any company involved in “extreme” fuel extraction. Is that the energy equivalent of snowboard super pipe? [The Energy Collective] At first glance… Keep reading →
President Obama’s June 25 Climate Action Plan speech has cast a pall over prospects for the Keystone XL oil pipeline project to deliver Canadian oil to US Gulf Coast refineries. Environmentalists cheered both the subject matter of the President’s speech and the possibilities it raised for blocking the controversial pipeline. But some in industry were… Keep reading →
Importing Canadian heavy oil via the Keystone XL pipeline may represent a more environmentally friendly option than crude from other sources, according to panelists at the New York Energy Week Oil and Gas Market Perspectives breakfast on Tuesday, hosted by CME Group. Environmentalists frequently cite the environmental footprint of Canada’s “tar sands” as a primary… Keep reading →
Shell says its investments in North American natural gas fueling infrastructure are focused solely on liquefied natural gas, citing greater infrastructure challenges for compressed natural gas (CNG) vehicles and greater in-company expertise in producing LNG. Shell has announced several initiatives to supply LNG to the North American transportation sector. These include a joint venture with… Keep reading →
Citi’s commodity research team just released a densely-packed note that breaks down the US oil transportation system reorganization currently underway and models potential market impacts associated with shifting crude and product flow patterns. Global oil price benchmark crude West Texas Intermediate (WTI) traded at a slight premium to the world’s other major benchmark, Brent, for… Keep reading →
Canadian Prime Minister Stephen Harper spoke bluntly about the rationale for approving the Keystone XL pipeline during a visit to the Council on Foreign Relations in New York yesterday. Canadian energy exports are critically important to the country’s economy, which has suffered in recent years from a lack of market access for its crude oil.… Keep reading →
