Beijing acquiring major ownership in oil, natural gas across nation
NEW YORK – The Obama administration is quietly allowing China to acquire major ownership interests in oil and natural gas resources across the U.S.
The decision to allow China to compete for U.S. oil and natural gas resources appears to stem from a need to keep Beijing economically interested in lending to the U.S.
The Obama administration has run $1-trillion-plus annual federal budget [...]
by Gregor Macdonald, CM
There’s been a lot of excitement in the past year over the rise of North American oil production and the promise of increased oil production across the whole of the Americas in the years to come. National security experts and other geo-political observers have waxed poetic at the thought of this emerging, hemispheric strength in energy supply.
What’s less discussed, however, is the negligible effect this supply swing is [...]
With a 103-36 vote in the House of Representatives, Vermont on Friday became the first state to ban hydraulic fracturing to extract oil or natural gas. The bill passed the Senate earlier this week.
The House debate was short. Heidi Scheuermann, R-Stowe, raised concerns that Vermont was banning the practice without knowing what natural gas resources it was giving up. “We have no idea if some farmers in Franklin County might [...]
May 4, 2012
Setting up another battleground with the energy industry — as well as Republicans ahead of the presidential election — the Obama administration on Friday proposed requiring that drillers on federal lands publicly list what chemicals they use in a technique known as hydraulic fracturing, or fracking.
“This administration’s energy strategy is an all-out effort to boost American production of every available source of energy,” Interior Secretary Ken Salazar [...]
While Americans focused their attention on the Colombian controversy involving U.S. Secret Service agents, prostitutes, and excessive drinking, President Obama quietly signed his latest Presidential Executive Order.
The Supporting Safe and Responsible Development of Unconventional Domestic Natural Gas Resources Executive Order seeks to create what amounts to a Presidential super committee that will oversee the regulation and development of the ‘unconventional’ natural gas industry..
… The President’s order establishes an “Interagency [...]
Monday, April 16, 2012
While Americans focused their attention on the Colombian controversy involving U.S. Secret Service agents, prostitutes and excessive drinking, President Obama quietly signed his latest Presidential Executive Order.
The Supporting Safe and Responsible Development of Unconventional Domestic Natural Gas Resources Executive Order seeks to create what amounts to a Presidential super committee that will oversee the regulation and development of the ‘unconventional’ natural gas industry for the purpose of ensuring a [...]
From The Stock Sage:
This morning, I came across an interesting slide from Ultra Petroleum’s ($UPL) latest investor presentation at the Howard Weil Energy Conference…
F&D cost stands for “finding and development cost,” which means that UPL’s average cost to find and develop its natural gas resources stands at roughly $1.60/Mcfe of gas. Moreover, UPL is one of the lowest-cost operators in the natural gas E&P industry, however, its all-in cost ($2.88/Mcfe) [...]
Iran insists it is only seeking a peaceful energy supply, while the West suspects Tehran is building an atomic bomb. And yet, some believe it is all about the oil. Again.
Conn Hallinan, a columnist at the Foreign Policy in Focus magazine, says the West’s concern over Iran’s nuclear program is merely a pretext to take control of its vast energy resources.
“I think the nuclear bomb is really in many ways [...]
February 10, 2012
… What ought to be acutely troubling is that the history of revisions to oil and gas resources has heretofore been one of increases. For the first time, we are now seeing not just downward revisions in estimated natural gas resources, but drastic downward revisions. That should tell us that the era of unlimited horizons for fossil fuels has come to a close. All the advanced [...]