• 2 days Shell Oil Trading Head Steps Down After 29 Years
  • 2 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 2 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 2 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 3 days Venezuela Officially In Default
  • 3 days Iran Prepares To Export LNG To Boost Trade Relations
  • 3 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 3 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 3 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 3 days Rosneft Announces Completion Of World’s Longest Well
  • 3 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 4 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 4 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 4 days Santos Admits It Rejected $7.2B Takeover Bid
  • 4 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 4 days Africa’s Richest Woman Fired From Sonangol
  • 4 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 4 days Russian Hackers Target British Energy Industry
  • 5 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 5 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 5 days Lower Oil Prices Benefit European Refiners
  • 5 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 5 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 5 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 6 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 6 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 6 days OPEC To Recruit New Members To Fight Market Imbalance
  • 6 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 6 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 6 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 6 days GE Considers Selling Baker Hughes Assets
  • 6 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 6 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 7 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 7 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 7 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 9 days The Oil Rig Drilling 10 Miles Under The Sea
  • 9 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 9 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 9 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Alt Text

Did This Startup Solve The Carbon Capture Challenge?

Costs have long prohibited carbon…

Alt Text

Oil Majors See Profit In Carbon Capture And Storage

carbon capture and storage technology…

Climate Change Debate Heats Up, Threatens Shale Boom

Climate Change Debate Heats Up, Threatens Shale Boom

Whether or not you believe that global warming is real, there is no disputing that the rhetoric over the issue is heating up again.

Case in point:  Hollywood has thrown its latest incendiary bomb at the oil and gas industry:  Greedy Lying Bastards. a documentary by an activist filmmaker who claims to have exposed a cabal of fossil industry conspirators including oil and gas interests (usual suspects the Koch brothers, ExxonMobil) who bankroll climate "denial" campaigns and the politicians who purportedly shill for industry in the same way (Bush 43, Sen. James Inhofe [D-OK]).

Related article: The Beijing Syndrome: China Begins to Care for the Environment

The documentary film, which opened a few weeks ago in selected cities, can be considered as the third in a sort of recent trilogy, coming on the heels of the Oscar-nominated Gasland (of the flaming methane kitchen sink spigots) and the Matt Damon drama Promised Land.  The film's producer, activist/faded actress Daryl Hannah, has had a marathon of appearances on national television news programs to promote it. The film is as subtle as its title, but the rollout's timing is serendipitous, coming so soon after President Obama renewed his long-dormant vow to tackle climate change during his State of the Union address.

But the president is also fond of noting the revolutionary surge of American oil and gas production that has occurred during his tenure. However, a new study by the nonpartisan Congressional Research Service notes how oil and gas production on federal lands declined during Obama's first term while output has skyrocketed on nonfederal lands. And his new pick to head the EPA has a mandate to tackle climate change while also developing tighter strictures on hydraulic fracturing.

Here's the rub:  Perhaps the major reason US greenhouse gas emissions last year were the lowest in nearly 20 years was the substitution of cheap natural gas for coal in power plants. Cheap natural gas made abundant by hydraulic fracturing.

Related article: Fracking Industry Loses $1.5 Billion in Gas Leaks Each Year

And yet the president continues to push for uneconomic alternative energy sources subsidized by taxpayers and seeks to increase the oil and gas industry's taxes.

Is this the crux of Obama's "all of the above" energy plan--take away "all" of the oil and gas industry's incentives to sustain this modern energy revolution that is underpinning a revival of American manufacturing and generating potentially millions of jobs?

By. Chris Faulkner




Back to homepage


Leave a comment
  • klem on April 13 2013 said:
    All I can say is thank God the Dems do not control both houses of Congress. If they did we'd all be forced to have rooftop wind turbines, drive electric cars, eat tofu and fracking would be outlawed. Bar-b-qued tofu burgers are the worst. Gotta win the Senate in the next mid-term election, gotta win it.

    And if Bloomburg becomes a Democrat and wins the Presidency in 2016, this war against oil, gas and coal will get a lot worse.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News