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OilPrice.com | http://oilprice.com/ Wed, 08 Feb 2012 19:44:13 GMT Oilprice.com (info@oilprice.com) Two Natural Gas Kings: Russia and Qatar http://oilprice.com/Energy/Natural-Gas/Two-Natural-Gas-Kings-Russia-and-Qatar.html In my forthcoming energy economics textbook (2012), the two natural gas kings are three – Russia, Qatar and Iran – while if I were beginning that book today, I would consider making it a foursome. The United States (U.S.) might belong with this royalty, assuming that the shale revolution is indisputably authentic and relevant, and not a transient bounty. Unfortunately we must wait a while for the verification we require, because the Energy Intelligence Agency (EIA) of the U.S. Department of Energy has apparently reduced…

]]> ferd@oilprice.com (Ferdinand E. Banks) Wed, 08 Feb 2012 17:09:36 GMT http://oilprice.com/Energy/Natural-Gas/Two-Natural-Gas-Kings-Russia-and-Qatar.html Israeli Company Promotes Shale Oil and Natural Gas Production, Protests Ensue http://oilprice.com/Energy/Energy-General/Israeli-Company-Promotes-Shale-Oil-and-Natural-Gas-Production-Protests-Ensue.html Israel imports all its oil and coal and 70 percent of its natural gas needs, leaving the government deeply interested in developing indigenous alternatives. Highlighting the vulnerability of its imports, on 5 February there was an explosion on Egypt's $500 million East Mediterranean Gas Company Ltd. (EMG) pipeline, that transits Egyptian natural gas to Israel and Jordan in northern Sinai in the Massaeed area, west of al Arish. The attack on the EMG pipeline is the 12th since February 2011, when a popular uprising deposed Egyptian President…

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]]> admin@namecake.com (John Daly) Tue, 07 Feb 2012 23:35:18 GMT http://oilprice.com/Energy/Energy-General/Israeli-Company-Promotes-Shale-Oil-and-Natural-Gas-Production-Protests-Ensue.html End of the Boom: The True State of the Shale Gas Industry http://oilprice.com/Energy/Natural-Gas/End-of-the-Boom-The-True-State-of-the-Shale-Gas-Industry.html Estimates for recoverable shale gas just keep falling. Last year, the Potential Gas Committee, an industry consortium that focuses on long-term projections, estimated that recoverable natural gas from shale deposits in the United States would amount to 687 trillion cubic feet (tcf). (This optimistic appraisal laid the groundwork for the oft-repeated notion that the United States has 100 years of natural gas supply at current rates of consumption. The estimate was also based on so-called "speculative resources" of another 615 tcf.) But, in its early…

]]> cobbi@oilprice.com (Kurt Cobb) Tue, 07 Feb 2012 23:31:38 GMT http://oilprice.com/Energy/Natural-Gas/End-of-the-Boom-The-True-State-of-the-Shale-Gas-Industry.html Similarities Between Climate and Energy Policies are Only Skin Deep http://oilprice.com/Energy/Energy-General/Similarities-Between-Climate-and-Energy-Policies-are-Only-Skin-Deep.html It has been claimed that energy security and climate policy should be considered “two sides of the same coin.” In 2006, former UK Prime Minister Tony Blair said, “We must treat energy security and climate security as two sides of the same coin.” Other leaders in Europe, members of the United States Congress and many commentators have echoed Blair’s statement. Are both energy security and climate policy best addressed by the same policies, or do policies that are best for one goal possibly compromise attainment of the…

]]> (Judith Curry) Tue, 07 Feb 2012 23:26:44 GMT http://oilprice.com/Energy/Energy-General/Similarities-Between-Climate-and-Energy-Policies-are-Only-Skin-Deep.html Self-Sufficient Floating Cities to be Produced by 2025 http://oilprice.com/Energy/Energy-General/Self-Sufficient-Floating-Cities-to-be-Produced-by-2025.html Japanese scientists are working on a concept to build carbon-neutral, self-sufficient floating cities. Japanese firm Shimizu has a startling new concept: mini floating, carbon-neutral cities that drift across the Pacific on giant water lilies. The Green Float concept includes a number of cells that could house between 10,000 to 50,000 people. The cells, each about 1 kilometre wide, could float freely or attach onto other cells to form larger towns, cities or even countries. At the centre of each cell, a 1 kilometre high “City in the Sky”…

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]]> energydigital@oilprice.com (Energy Digital) Tue, 07 Feb 2012 23:21:32 GMT http://oilprice.com/Energy/Energy-General/Self-Sufficient-Floating-Cities-to-be-Produced-by-2025.html The Energy Mix that will help us Survive without Fossil Fuels http://oilprice.com/Energy/Energy-General/The-Energy-Mix-that-will-help-us-Survive-without-Fossil-Fuels.html Breathe, Neo. I’ve been running a marathon lately to cover all the major players that may provide viable alternatives to fossil fuels this century. Even though I have not exhausted all possibilities, or covered each topic exhaustively, I am exhausted. So in this post, I will provide a recap of all the schemes discussed thus far, in matrix form. Then Do the Math will shift its focus to more of the “what next” part of the message. The primary “mission” of late has been to sort possible future energy resources into boxes…

]]> murphyt@oilprice.com (Tom Murphy) Tue, 07 Feb 2012 23:14:37 GMT http://oilprice.com/Energy/Energy-General/The-Energy-Mix-that-will-help-us-Survive-without-Fossil-Fuels.html Oil Rich Azerbaijan Looking for Investors http://oilprice.com/Energy/Energy-General/Oil-Rich-Azerbaijan-Looking-for-Investors.html The prosperity of former republics of the USSR, which collapsed in December 1991, has primarily been driven by the development of energy resources in the post-Soviet era, notably around the Caspian. Out of the debris of the Soviet Union have arisen four petro-states ringing the Caspian – the Russian Federation, Turkmenistan, Kazakhstan and Azerbaijan. The possibilities there have focused the attention of investors for the last twenty years. More than a decade ago Vice President Dick Cheney, then Halliburton CEO, remarked, "I can't think…

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]]> admin@namecake.com (John Daly) Tue, 07 Feb 2012 23:11:24 GMT http://oilprice.com/Energy/Energy-General/Oil-Rich-Azerbaijan-Looking-for-Investors.html How Energy Availability Affects Economies and Societies http://oilprice.com/Energy/Energy-General/How-Energy-Availability-Affects-Economies-and-Societies.html So familiar has the social economy of energy become in modern societies, so routine its extraordinary wastefulness, so toxic its effects, that the capacity for a better way can be missed. By questioning the how, why and what of energy use, says Rebecca Willis, new possibilities - of living, travelling, eating, working and buying - can open. There are no pavements in downtown Bahrain. Visiting a few years ago for a family wedding, I wanted to pop to the shops to pick up some nappies. I could see a chemist from our hotel window, but the receptionist…

]]> opendemocracy@oilprice.com (Open Democracy) Tue, 07 Feb 2012 23:06:35 GMT http://oilprice.com/Energy/Energy-General/How-Energy-Availability-Affects-Economies-and-Societies.html U.S. Energy Trade Mission to Visit Four African Countries http://oilprice.com/Energy/Energy-General/U.S.-Energy-Trade-Mission-to-Visit-Four-African-Countries.html For the last decade, as China has advanced its economic interests on the Dark Continent, Washington regarded Africa primarily through its ‘global war on terror” lens. Top of the U.S. agenda was combating terrorism. After World War II, the US military carved up the globe outside its borders into a series of Unified Combatant Commands (UCC) to project military power and safeguard interests abroad. In 2008 the Pentagon’s fifth UCC was established, when the United States Africa Command (AFRICOM) became operational. Except for Egypt,…

]]> admin@namecake.com (John Daly) Tue, 07 Feb 2012 18:40:21 GMT http://oilprice.com/Energy/Energy-General/U.S.-Energy-Trade-Mission-to-Visit-Four-African-Countries.html Is a Solar Energy Revolution Just Around the Corner? http://oilprice.com/Alternative-Energy/Solar-Energy/Is-a-Solar-Energy-Revolution-Just-Around-the-Corner.html India’s “Solar Mission” to install 20,000MW of solar power by 2022 has recently had a boost following the news that electricity from solar power is now cheaper than that produced by diesel generators. Making them a cost effective alternative to many people in developing countries. According to figures by market analysts Bloomberg, the price of solar panels fell by nearly 50% in 2011 alone, and they are currently just one quarter of the price they were in 2008. According to the International Energy Agency’s 2011 World Energy…

]]> burgessj@oilprice.com (James Burgess) Tue, 07 Feb 2012 18:27:30 GMT http://oilprice.com/Alternative-Energy/Solar-Energy/Is-a-Solar-Energy-Revolution-Just-Around-the-Corner.html Crude Oil Analysis for the Week of February 6, 2012 http://oilprice.com/Energy/Oil-Prices/Crude-Oil-Analysis-for-the-Week-of-February-6-2012.html March Crude Oil closed lower last week after posting an expanded range. The market continued its downslide that began five weeks ago when it topped out at $103.90. Heavy selling pressure early in the week drove the market close to a key 50 percent price level at $95.40. After it reached the low for the week on Thursday at $95.44, traders showed their respect for the 50 percent level by creating a short-covering rally that prevented the market from closing on its low. The weekly chart indicates layers of support this week. The first level is the…

]]> axempire@oilprice.com (FX Empire) Tue, 07 Feb 2012 13:55:24 GMT http://oilprice.com/Energy/Oil-Prices/Crude-Oil-Analysis-for-the-Week-of-February-6-2012.html Sudan's President Omer al Bashir’s New Best Friend - Russia? http://oilprice.com/Energy/Crude-Oil/Sudans-President-Omer-al-Bashirs-New-Best-Friend-Russia.html When Communism collapsed in the Soviet Union in December 1991, many Europeans naively thought that the new Russian government would fully embrace “Western” values. Two decades later, after a brutal war in Chechnya and a brief conflict with Georgia in 2009, few in Brussels or elsewhere hold that view. Russian foreign policy has remained defiantly nationalist and pragmatic, much to the distress of European and American diplomats. Russia’s cautions on Iran and threats to block UN Security Council proposals to pacify Syria are…

]]> admin@namecake.com (John Daly) Tue, 07 Feb 2012 4:51:59 GMT http://oilprice.com/Energy/Crude-Oil/Sudans-President-Omer-al-Bashirs-New-Best-Friend-Russia.html Are There Holes in Pipeline Transparency? http://oilprice.com/Energy/Energy-General/Are-There-Holes-in-Pipeline-Transparency.html An assistant attorney general in Montana announced this week he was trying to decide whether or not to move ahead with claims against Exxon Mobil for a July oil spill in the Yellowstone River. Exxon had agreed to a million-dollar settlement for environmental damage that resulted from the rupture of its Silvertip oil pipeline that, at the time, was buried just four feet below the riverbed. A state attorney general was quoted by local media as saying all of the environmental issues weren't resolved yet but statements last year suggested all was well,…

]]> dg@oilprice.com (Daniel J. Graeber) Tue, 07 Feb 2012 4:48:15 GMT http://oilprice.com/Energy/Energy-General/Are-There-Holes-in-Pipeline-Transparency.html Cambodia - Next Oil and Natural Gas Frontier? http://oilprice.com/Energy/Energy-General/Cambodia-Next-Oil-and-Natural-Gas-Frontier.html U.S. and Japanese companies are interested in prospecting for oil and natural gas in Cambodia. According to Phai Siphan, state secretary and spokesman of the Council of Ministers Office, in the provinces of Preah Vihear, Siemreab, and Kampong Thom there are 17 oil blocs covering a total area of over 2,300 square miles undergoing seismic study, where around 6,000 boreholes, each 0.2 inches in diameter, are drilled to a depth of 20 to 65 feet. Phai noted that Japanese company JOGMEC (Japan Oil Gas, Metals Corporation) began prospecting…

]]> admin@namecake.com (John Daly) Tue, 07 Feb 2012 4:46:30 GMT http://oilprice.com/Energy/Energy-General/Cambodia-Next-Oil-and-Natural-Gas-Frontier.html Russia Behind Bulgarian Anti-Fracking Protests? http://oilprice.com/Energy/Natural-Gas/Russia-Behind-Bulgarian-Anti-Fracking-Protests.html Pity the poor Eastern Europeans. Fifty years under the domination of their massive Soviet eastern neighbor then the collapse of Communism there two decades ago offered undreamed of opportunities to join both the European Union and NATO. But they still remain dependent on the Russian Federation for the majority of their oil and gas needs, and the new capitalists in Moscow do not hesitate to charge the highest prices possible. According a number of East European nations, particularly Poland and Bulgaria, are actively investigating the possibility…

]]> admin@namecake.com (John Daly) Sat, 04 Feb 2012 18:20:52 GMT http://oilprice.com/Energy/Natural-Gas/Russia-Behind-Bulgarian-Anti-Fracking-Protests.html India Drops the Dollar and Pays for Iranian Oil in Gold http://oilprice.com/Energy/Crude-Oil/India-Drops-the-Dollar-and-Pays-for-Iranian-Oil-in-Gold.html Media reports suggests that India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US dollar for purchasing the Iranian oil. Citing an Israeli intelligence website, The Times of India has reported that India is opting for gold to repay crude oil supplies from Iran. The website, Debkafile, said the transaction will be routed through UCO Bank, the Kolkata-based public sector lender. However, the authenticity of the news could not be confirmed as the Indian government has neither confirmed…

]]> agmetal@oilprice.com (Ag Metal Miner) Sat, 04 Feb 2012 18:15:00 GMT http://oilprice.com/Energy/Crude-Oil/India-Drops-the-Dollar-and-Pays-for-Iranian-Oil-in-Gold.html The Energy Fallout from the Arab Spring http://oilprice.com/Energy/Energy-General/The-Energy-Fallout-from-the-Arab-Spring.html Jordan announced this week it was discussing with Baghdad the development of natural gas fields along its northern border with Iraq. The pipeline system in the Sinai Peninsula carrying natural gas from Egypt to its Middle East customers was the target of nearly a dozen attacks since Hosni Mubarak was ousted during last year's revolution. Authorities from Mubarak's administration were accused of getting rich off of shady gas contracts with Israel. Though Mubarak's cronies are out of the picture, the military leadership in Cairo hasn't exactly been…

]]> dg@oilprice.com (Daniel J. Graeber) Sat, 04 Feb 2012 18:10:20 GMT http://oilprice.com/Energy/Energy-General/The-Energy-Fallout-from-the-Arab-Spring.html Canada's Shameful Propaganda Against Saudi Arabian Oil Reaches New Levels http://oilprice.com/Energy/Energy-General/Canadas-Shameful-Propaganda-Against-Saudi-Arabian-Oil-Reaches-New-Levels.html Almost exactly nine years ago, opposition to the US invasion of Iraq was reaching a fever pitch. On February 15, 2003 millions of people around the world rallied to protest the inexorable march to war, including in over 150 cities in the United States. The case for war — coming from the Bush White House and its supporters through every pore of the mainstream media complex — was fierce and demanding, an hourly barrage of breathless warnings that at any moment Saddam Hussein could unleash nuclear or biological terrorism on Americans.…

]]> postcarbon@oilprice.com (Post Carbon) Sat, 04 Feb 2012 18:07:24 GMT http://oilprice.com/Energy/Energy-General/Canadas-Shameful-Propaganda-Against-Saudi-Arabian-Oil-Reaches-New-Levels.html Cuba, Oil Diplomacy and the Southern Tip of Florida http://oilprice.com/Energy/Crude-Oil/Cuba-Oil-Diplomacy-and-the-Southern-Tip-of-Florida.html U.S. lawmakers spent most of this week lobbing insults at the Cuban government while assessing the risks of an offshore oil spill about 90 miles from the southern Florida coast. Spanish energy company Repsol is leading an exploratory drilling campaign in Cuban waters and, rightfully so, many wary U.S. lawmakers are still shell-shocked from the 2010 oil spill in the Gulf of Mexico. Considering Florida relies on tourism for a substantial part of state revenue, it's no wonder Florida's Lt. Gov. Jennifer Carroll said Cuba can't be trusted with protecting…

]]> dg@oilprice.com (Daniel J. Graeber) Fri, 03 Feb 2012 2:49:24 GMT http://oilprice.com/Energy/Crude-Oil/Cuba-Oil-Diplomacy-and-the-Southern-Tip-of-Florida.html What Affect Will High Oil Prices Have on the 2012 Election http://oilprice.com/Energy/Oil-Prices/What-Affect-Will-High-Oil-Prices-Have-on-the-2012-Election.html If current trends continue, gasoline prices and U.S. energy policy seem destined to play a larger role in the political debate prior to the November elections than ever before. Gasoline on the East Coast is already within striking distance of all-time highs and most prognosticators are talking about the likelihood of $4+ gasoline before summer. Although the U.S. consumer is more inured to $4 gasoline than four years ago, the crossing of the $4 barrier is bound to set off another round of recriminations and finger pointing as to just who or what…

]]> postcarbon@oilprice.com (Post Carbon) Fri, 03 Feb 2012 2:47:31 GMT http://oilprice.com/Energy/Oil-Prices/What-Affect-Will-High-Oil-Prices-Have-on-the-2012-Election.html