I am tired of hearing about the unbelievable impact of technology on collapsing U.S. shale production costs. The truth is that these claims are unbelievable. The savings are real but only about 10 percent is from advances in technology. About 90 percent is because the oil industry is in a depression and oil field service … Continue reading Tech Miracle In U.S. Shale Is A Media Myth
Recently, BP ruled itself out from drilling shale gas in the UK because it may “attract the wrong kind of public attention” . In 2013 new studies estimated huge shale potential in the United Kingdom, as much as 1,000 trillion cubic feet of shale gas. However, despite the strong push from Prime Minister David Cameron, … Continue reading DISCUSSION: What is the cost of keeping Europe’s shale in the ground?
Fracking is not a new technology, but the technological advances that have expanded its application to vast, previously unrecoverable reserves, have exposed it to significant new scrutiny. Since 2005, shale gas production has already reached 23% of United States total gas production, and that number is projected to continue to increase to 49% by 2035. … Continue reading DISCUSSION: How will the fracking wars end?
The pending decision on the Keystone XL Pipeline is perceived as a precedent-setter for defining the US government’s commitment to balancing the environment with economic development. Anti-Keystone protests at the White House are a very visible example of public environmental interest in the matter. These manifestations are particularly significant when tied to President Obama’s climate … Continue reading DISCUSSION: Pipelines or Rail? Implications of the new Keystone Report
Mexico’s energy reform signed last December by President Pena Nieto marks an important milestone for the country, opening oil and natural gas exploration and production not only to local, but also to foreign private companies. Private investment will be allowed through various schemes: profit sharing, production sharing and in the form of a license. For … Continue reading DISCUSSION: Mexico’s Energy Revolution: A win for whom?
The recent boom in shale oil and gas production in the US has dramatically improved the economic and energy security prospects on North America. Texas alone saw a 20% increase of its oil production in 2013, which was a record year for the US in terms of oil and gas production growth. However, recent claims … Continue reading DISCUSSION: What is the best leading indicator of shale production?
The EIA’s Annual Energy Outlook for 2013 projects a continuation of the rebalancing occurring in electricity generation in the USA (See figure 1), with gas rising to 30% of the US electricity mix by 2040. This switching of capacity from coal and nuclear power generation to gas generation is occurring already. For example, 2013 production estimates for … Continue reading [Closed] DISCUSSION: Power from gas – who bears the risk?
LNG imports and nuclear energy have long played a key role in Japan’s electricity generation, as the country lacks domestic natural resources. However, since the Fukushima incident, Japan has increasingly been relying on the import of fossil fuels. As a result, high energy bills are pushing the country to reconsider its energy mix and look … Continue reading [Closed] DISCUSSION: Methane Hydrates: another unexpected revolution?
The Marcellus Shale industry, which arrived in this northern Pennsylvania city five years ago and turned Williamsport into the seventh-fastest-growing area in the nation, appears to have lost some momentum. Economic activity in this city affectionately known as \"Billtown\" has subsided noticeably in the last year as the pace of drilling natural gas wells slowed … Continue reading [Closed] DISCUSSION: Williamsport, booming gas-drilling city, stays optimistic as drilling slows
The International Energy Agency last year warned that if humanity is to have any hope of avoiding catastrophic climate change, a third of the world’s fossil fuel reserves must be put off limits until 2050. That prompted HSBC Global Research to estimate that some oil giants could lose up to half their market value. In … Continue reading [Closed] DISCUSSION: Climate change could put $6 trillion in fossil fuel reserves at risk