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  • Chesapeake Credit Rating Cut On Concerns Over Liquidity Risks, McClendon

    Forbes - Energy
    Steve Schaefer
    15 May 2012 | 1:41 pm
    Standard & Poor’s lowered its rating on Chesapeake Energy to BB- from BB Tuesday, citing concerns about the gap between the natural gas producer’s cash flow from operations and its planned capital spending. The cut is the second in a matter of weeks, after a matching one-notch cut April 26.

  • Fracking Safety Improves Dramatically, Says Independent Study

    Forbes - Energy
    Jon Entine
    15 May 2012 | 4:35 pm
    Fracking is getting safer and should present no major environmental problems in New York when the state allows drilling to commence—that’s the headline from a university-funded study released today by the Shale Resources and Society Institute at the University of Buffalo.

  • Chesapeake Shares Keep Falling, But Maybe It's Time To Buy The Debt

    Forbes - Energy
    Christopher Helman
    15 May 2012 | 3:01 pm
    There's a lot of investors, analysts and traders out there in oil & gas land who don't expect Chesapeake Energy to survive this ongoing barrage of outrage against its terrible corporate governance, murky balance sheet, lack of disclosures, liquidity questions and CEO self-dealing. Some money managers and financiers I talk to believe shares in Chesapeake are headed to goose eggs and that the ouster of Aubrey McClendon is a given. The rumored share buying by Carl Icahn helped the stock for a couple hours yesterday, but Icahn declined a request for interview and we've not yet seen any…

  • IEA: Global oil demand growth accelerating

    General Interest
    11 May 2012 | 11:32 am
    After posting near-zero annual growth in the fourth quarter of 2011, global oil demand growth will gradually accelerate throughout 2012, culminating in an increase of 1.2 million b/d by this year’s final quarter, the International Energy Agency said in its latest monthly oil market report.

  • Acknowledging The Arrival Of Peak Government

    Peak Oil News and Message Boards
    admin
    15 May 2012 | 7:06 pm
    Most informed people are familiar with the concept of Peak Oil, but fewer are aware that we’re also entering the era of Peak Government. The central misconception of Peak Oil — that it’s not about “running out of oil,” it’s about running out of cheap, easy-to-access oil — can also be applied to Peak Government: It’s not about government disappearing, it’s about government shrinking. Central government — the Central State — has been in the expansion mode for so long that the process of contracting government is completely alien to the nation, to those who…
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    API SmartBrief

  • White House is not against exports of LNG, official says

    15 May 2012 | 7:40 am
    The Obama administration isn't against liquefied natural gas exports, but it will use the results of a Department of Energy s -More- 

  • N.Y. rules would hinder Marcellus development, drillers say

    15 May 2012 | 7:40 am
    Proposed drilling rules and local bans in New York would hinder the development of lease holdings in the state's portion of t -More- 

  • API to give recommendations to Republican, Democratic parties

    15 May 2012 | 7:40 am
    The American Petroleum Institute this week will issue its recommendations to the Democratic and Republican platform committee -More- 

  • BHP would consider write-down on U.S. shale-gas assets, CEO says

    15 May 2012 | 7:40 am
    BHP Billiton Petroleum would consider a write-down on its shale natural gas properties in the U.S., said CEO J.  -More- Attend the biggest event of the year focused on Frac Sand Suppply & Logistics! Join industry leaders & experts September 27 & 28 at the Gaylord Texan Hotel in Grapvine, TX To discuss the opportunities, challenges & solutions related to frac sand supply and logistics! Sponsorship, exhibiting, & speaking opportunities available! sandconference.com Click here to learn more & register.

  • White House, industry are discussing proposed drilling rules

    15 May 2012 | 7:40 am
    The Obama administration has been discussing proposed natural gas drilling rules with the oil and natural gas industry, and i -More- Help your insurance underwriter help you. In manufacturing, the more successful you are at surfacing operational threats, the more you leverage better pricing, terms, and conditions with insurance carriers. Click here for a FREE download
 
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    Forbes - Energy

  • New US Sub-Prime: Putting A Price On 'Chesapeake' Gas

    Matthew Hulbert
    16 May 2012 | 3:41 am
    The travails of Chesapeake have been well documented, and with good cause. This basically amounts to a new US ‘sub-prime’ moment. Gas production worth close to spit, has been used to leverage and enhance positions far beyond credible valuations of the underlying asset.  Gas reserves are a long way from collateralised debt obligations that ripped through financial markets in 2008, but Chesapeake’s woes pose two big questions for the gas sector to consider: Is shale all it’s cracked up to be on your balance sheets? And if not, isn’t it about time US gas was loaded onto lucrative…

  • Fracking Safety Improves Dramatically, Says Independent Study

    Jon Entine
    15 May 2012 | 4:35 pm
    Fracking is getting safer and should present no major environmental problems in New York when the state allows drilling to commence—that’s the headline from a university-funded study released today by the Shale Resources and Society Institute at the University of Buffalo.

  • Chesapeake Shares Keep Falling, But Maybe It's Time To Buy The Debt

    Christopher Helman
    15 May 2012 | 3:01 pm
    There's a lot of investors, analysts and traders out there in oil & gas land who don't expect Chesapeake Energy to survive this ongoing barrage of outrage against its terrible corporate governance, murky balance sheet, lack of disclosures, liquidity questions and CEO self-dealing. Some money managers and financiers I talk to believe shares in Chesapeake are headed to goose eggs and that the ouster of Aubrey McClendon is a given. The rumored share buying by Carl Icahn helped the stock for a couple hours yesterday, but Icahn declined a request for interview and we've not yet seen any…

  • Chesapeake Credit Rating Cut On Concerns Over Liquidity Risks, McClendon

    Steve Schaefer
    15 May 2012 | 1:41 pm
    Standard & Poor’s lowered its rating on Chesapeake Energy to BB- from BB Tuesday, citing concerns about the gap between the natural gas producer’s cash flow from operations and its planned capital spending. The cut is the second in a matter of weeks, after a matching one-notch cut April 26.

  • Top, Bottom Energy Picks post-Q1

    Canaccord Genuity
    15 May 2012 | 8:00 am
    Following Q1/12 Canaccord Genuity oil and gas analyst John Gerdes released his favorite BUY rated companies, his HOLD rated companies, and his SELL rated companies:
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    Gas Prices on Huffington Post

  • Michael Brune: Share the Road and the Future

    Michael Brune
    15 May 2012 | 2:05 pm
    Bicycle commuting in the U.S. was up by 40 percent from 2000 to 2010. That's great, but it's only scratching the surface of how biking could transform our country. Read more: Oil, Bicycle, Bicycles, Bike to Work Day, Bike to Work Month, Bike to Work, Green Commuting, Bicycle Commuting, Green News

  • Brad Friedman and Desi Doyen: 'Green News Report' - May 15, 2012

    Brad Friedman and Desi Doyen
    15 May 2012 | 12:45 pm
    TWITTER: @GreenNewsReport. The 'GNR' is also now available on your cell phone via Stitcher Radio's mobile app!. IN TODAY'S RADIO REPORT: Ominous s... Read more: Gas Prices, Asian Carp, Antarctica, Green Jobs, Robert F. Kennedy Jr., Epa, Wave Energy, Regulation, Clean Energy, Nuclear, Green News Report, Pollution, Green Energy, Coal, Pipeline, Offshore Drilling, Colorado, Climate Scientists, Clean Energy Standard, Video, Solar Energy, 2012 Presidential Election, Oil Spill, Fossil Fuels, Big Oil, Climate Science, Protest, Portland Oregon, Anti-Science, Gop, Climate Change, Climate Change…

  • Democrat Says Falling Gas Prices Demolish GOP Argument Against Obama

    The Huffington Post News Team
    15 May 2012 | 11:32 am
    Former Pennsylvania Governor Ed Rendell said Tuesday that the current drop in gas prices could significantly dampen one of the GOP's major economic ta... Read more: Infrastructure Spending, Obama Gas Prices, Gas Prices, Infrastructure, Video, Ed Rendell, Ed Rendel Obama, 2012 Election, Public Transportation, Elections 2012, Barack Obama 2012, American Public Transportation Association, Gas Prices Falling, Politics News

  • Rocky Kistner: Voices Against Tar Sands: People on the Front Lines Speak Out

    Rocky Kistner
    15 May 2012 | 6:00 am
    When politicians and K Street lobbyists peddle the $7 billion Keystone XL tar sands pipeline, you can bet the red meat rhetoric about jobs and national security -- fanciful charges according to independent analysis -- is straight out of the game plan from DC's most popular blood sport; trolling for petro dollars. Read more: Oil, Tar Sands, Pollution, Keystone XL Pipeline, Video, Green News

  • Michael R. Powers: Are High Gas Prices a Boon to Auto Insurers?

    Michael R. Powers
    14 May 2012 | 12:01 pm
    In principle, one would expect personal lines automobile insurance companies to realize a modest windfall from recent increases in gasoline prices. However, I think it's fair to say that "not all's the same 'twixt the pump and the claim" -- not even the same as it used to be. Read more: High Gas Prices, Gas Prices, Car Insurance, Gas Prices Rising, Auto Insurance, Auto Insurers, Money News
 
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    The Oil Drum - Discussions about Energy and Our Future

  • Updating World Deepwater Oil & Gas Discovery

    Luis de Sousa
    15 May 2012 | 1:19 am
    This a guest post by Jean Laherrère, a long time guest contributor to TheOilDrum. Defining deepwater oil as the offshore resource found in water depths over 500 m, the data available as of October of 2010 was pointing to an ultimate around 150 Gb. This is the result of an extrapolation made last year: Figure 1: world deepwater (>500 m) creaming curve 1971-Oct 2010 The previous ultimate estimate in 2008 was 100 Gb, missing the third cycle in subsalt plays. Figure 2: world deepwater (>500 m) creaming curve 1971-2007 The cumulative discovery versus time with the data up to October of 2010…

  • TheOilDrum.com Archive 2005-2011

    Admin
    15 May 2012 | 12:30 am
    During the past seven years, TheOilDrum.com has hosted analysis and discussion surrounding the possibility and implications of a near term peak in global oil production and importance of energy to society in general. Out of the ~8,500 articles posted here (all searchable by keyword in upper left), the list below comprises what each author considered some of their most relevant content. The list is in alphabetical order, by last name of Oil Drum contributor. Click on the author's name to go to their list of selected articles. At the end of each section, a link is given to the complete list of…

  • Drumbeat: May 14, 2012

    Leanan
    14 May 2012 | 9:12 am
    Peak oil debate is over, say experts THE debate about peak oil is over and the world has used just a fraction of the petroleum it will be possible to extract, an expert believes. Speaking at the Australian Petroleum Production and Exploration Association (APPEA) 2012 conference in Adelaide, oil major Total's chief executive Christophe de Margerie said new sources of petroleum, such as tight gas and shale oil, meant that the world had ample supplies of petroleum. Mr de Margerie said while there were economic and environmental issues which would affect how quickly resources were exploited,…

  • New IMF Working Paper Models Impact of Oil Limits on the Economy

    Gail the Actuary
    11 May 2012 | 4:19 am
    The International Monetary Fund (IMF) recently issued a new working paper called “The Future of Oil: Geology versus Technology” (free PDF), which should be of interest to people who are following “peak oil” issues. This is a research paper that is being published to elicit comments and debate; it does not necessarily represent IMF views or policy. The paper considers two different approaches for modeling future oil supply: The economic/technological approach, used by the US Energy Information Administration (EIA) and others, and The geological view, used in peak oil…

  • Norwegian Crude Oil Reserves and Production as of 12/31/2011

    Rune Likvern
    9 May 2012 | 9:47 am
    In this post I present an updated view on Norwegian crude oil exploration, sanctioned developments, discoveries, production, reserves and what these now suggest for the future of Norwegian crude oil production. The content for this post was originally published in Norwegian here and here. Figure 01: The chart above shows a forecast for crude oil production from the 21 discoveries presently sanctioned for development on the Norwegian Continental Shelf (NCS) and which are scheduled to start flowing from 2012 to 2016. In Figure 5 these and a forecast for Johan Sverdrup are shown as parts of a…
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    General Interest

  • Director becomes interim Baytex chief

    11 May 2012 | 12:10 pm
    Raymond Chan, executive chairman of Baytex Energy Corp., Calgary, has assumed the additional role of interim chief executive officer, replacing Anthony Marino, president and chief executive, who is leaving the company.

  • IEA: Global oil demand growth accelerating

    11 May 2012 | 11:32 am
    After posting near-zero annual growth in the fourth quarter of 2011, global oil demand growth will gradually accelerate throughout 2012, culminating in an increase of 1.2 million b/d by this year’s final quarter, the International Energy Agency said in its latest monthly oil market report.

  • Cuba drilling continues as US groups press spill response need

    11 May 2012 | 10:10 am
    Repsol SA continues drilling Cuba’s first offshore oil well as some US government agencies, oil and gas organizations, and environmental groups press to ease restrictions that would keep US companies from responding if the well blows out and sets off a spill, experts at a Center for International Policy seminar said.

  • CBO study examines policy options to reduce oil price volatility

    10 May 2012 | 4:59 pm
    Policies that reduce the US transportation system’s heavy reliance on petroleum products would more effectively shield consumers from volatile prices and supply interruptions in the long term than simply increasing US production, a new Congressional Budget Office study concluded.

  • MARKET WATCH: NY market pattern continues; gas prices up, oil down

    10 May 2012 | 12:33 pm
    The front-month contract for benchmark US crude continued a six-session losing streak in the New York market while natural gas maintained its rally, up 3% on May 9.
 
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    Energy Bulletin -

  • Oil - May 16

    bart
    15 May 2012 | 7:42 pm
    - Peak oil debate is over, says Total chief - Oil Falls to 2012 Low on Greek Debt, Saudi Call for Drop - Reuters global energy and envrionment summit read more

  • Oil and water— drilling stirs new concerns in Ohio

    MQBachman
    15 May 2012 | 6:11 pm
    In the late 1800s northwestern Ohio was at the center of an oil boom as the state became the nation's largest crude producer. Today Ohio is at the center of another fossil fuel boom, where a new drilling method — hydraulic fracturing (fracking) combined with modern horizontal drilling — is releasing natural gas from deep underground shale, leading to a rush of new leases. Is drilling safe or are contamination concerns unfounded? read more

  • Tom Murphy: Time to be honest with ourselves about our looming energy risks

    kristinsponsler
    15 May 2012 | 10:56 am
    Tom uses simple, easy-to-understand math -- yes, that four-letter word -- to logically -- I say quite logically -- make the case that simply extrapolating past trends in energy and economic growth is not going to cut it. Instead, we face gigantic challenges and significant risks to our current model. Not least of which is, when asked what we will use when fossil fuels dwindle away, the most typical answer is I’m sure we will think of something. That is, our future of energy is a question mark right now. read more

  • Free energy does not occur in nature

    barath
    15 May 2012 | 10:53 am
    It's not just that what we generally think of as free energy doesn't occur in nature, but also that free energy does occur in the everyday lived environments of people in industrial nations, which we might thus say are unnatural. So what are instances of free energy that we experience in our lives, and why do they matter? read more

  • U.S. coal generation drops 19 percent in one year, leaving coal with 36 percent share of electricity

    kristinsponsler
    15 May 2012 | 4:01 am
    Power generation from coal is falling quickly. According to new figures from the U.S. Energy Information Administration, coal made up 36 percent of U.S. electricity in the first quarter of 2012 -- down from 44.6 percent in the first quarter of 2011. That stunning drop, which represented almost a 20 percent decline in coal generation over the last year, was primarily due to low natural gas prices. As EIA explains, natural gas generation will climb steadily this year, while coal will see a double-digit drop by the end of 2012... read more
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    OIL INDUSTRY NEWS - Google News

  • Oil and ethanol industries pump up product debate - DesMoinesRegister.com

    16 May 2012 | 4:06 am
    Oil and ethanol industries pump up product debateDesMoinesRegister.comAndrea Melendez/The Register Ethanol and the oil industry continued their escalating battle this week, with Iowa ethanol producers saying their product cuts gas prices while the petroleum industry argues that larger blends of ethanol can harm consumers and more »

  • Oil Drops to Six-Month Low on Rising Stockpiles, Greek Crisis - BusinessWeek

    16 May 2012 | 3:54 am
    The NationalOil Drops to Six-Month Low on Rising Stockpiles, Greek CrisisBusinessWeekBy Grant Smith and Ben Sharples on May 16, 2012 Oil dropped in New York to the lowest price in more than six months after US crude stockpiles grew and talks to form a coalition government in Greece collapsed, raising concern that the region's debt Crude oil prices fall as Opec production risesThe NationalThe spread between US shale oil and foreign crude is narrowingOil & Gas Financial Journalall 983 news articles »

  • We're No. 3!: Alaska's falling oil output is nothing to cheer - Fairbanks Daily News-Miner

    16 May 2012 | 2:21 am
    The GuardianWe're No. 3!: Alaska's falling oil output is nothing to cheerFairbanks Daily News-MinerWho cares that Alaska has fallen behind North Dakota on the list of states producing the most barrels of oil per day? We're no longer the most popular person at the ball. Oil companies now have more choices about who they want to dance with and for how ND passes Alaska to become nation's No. 2 oil producerJuneau EmpireND's No. 2 rank surprises Oil PatchDickinson PressGrand Forks markets to Oil Patch companiesIn-ForumDevil's Lake Daily Journalall 325 news articles »

  • Noble Corporation to Present at the UBS Global Oil and Gas Conference - Sacramento Bee

    16 May 2012 | 2:05 am
    Noble Corporation to Present at the UBS Global Oil and Gas ConferenceSacramento BeeBy Noble Corporation ZUG, Switzerland, May 15, 2012 -- /PRNewswire/ -- Noble Corporation (NYSE: NE) today announced that David W. Williams, Chairman, President and Chief Executive Officer, Noble Corporation, will present at the UBS Global Oil and Gas and more »

  • Oil industry says it will report California 'fracking' information - Sacramento Bee

    16 May 2012 | 2:01 am
    RollingStone.comOil industry says it will report California 'fracking' informationSacramento BeeBy David Siders On the eve of a series of public hearings on hydraulic fracturing, a controversial but little-regulated method of oil extraction in California, an industry group said Tuesday that its members will voluntarily post information about Oil companies agree to post fracking dataBakersfield CalifornianCitizens, Groups Calling for a Ban on Fracking in CaliforniaNorthcentralPa.comall 11 news articles »
 
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    OpenSecrets Blog

  • Did OpenSecrets.org Foil A Chinese Propaganda Hit?

    15 May 2012 | 3:57 pm
    Tensions between China and the United States have been high lately, particularly since the blind legal activist Chen Guangcheng fled to the U.S. embassy -- a drama that current U.S. Ambassador to China Gary F. Locke played a prominent role in defusing.But Locke's high-profile role was not appreciated by Chinese authorities, and since the drama began unfolding several weeks ago, he's been under attack by several prominent government-controlled media outlets.On Monday, when a commenter asked about Locke's personal wealth, editors at the Beijing Daily took the opportunity to take another dig at…

  • Violence Against Women Act Focus of Heavy Lobbying

    15 May 2012 | 2:33 pm
    This week the House is debating the reauthorization of the 1994 Violence Against Women Act, and there seems to be little danger of a relapse of the relative bipartisanship that occurred at the end of April, when the Senate approved its version of the bill.By the time of that vote, 15 Republicans joined the entire Democratic caucus in passing the legislation, which is not to say that the two sides were singing in harmony from the start. And things are worse over on the other side of the Capitol. Even before things got tense, 44 organizations were registered to lobby on the bill as of March 31…

  • Ron Paul's Unorthodox Fundraising

    15 May 2012 | 12:26 pm
    Ron Paul's announcement Monday effectively ending his presidential bid brought the end of a quiet campaign that nevertheless raised more money -- $36.7 million as of March 31-- than that of any Republican candidate other than Mitt Romney.About 45 percent of Paul's money came from small donors -- those giving $200 or less. The Federal Election Commission doesn't require disclosure of the identities of those individuals. But Paul supporters who went over that threshhold have a distinct identity. 

  • Obama Bundlers Include Many Who Are LGBT

    14 May 2012 | 5:08 pm
    Ticket sales for tonight's gala fundraiser hosted by Ricky Martin at New York's Rubin Museum of Art were selling fine before last week, but there were still a fair number left. Then on Monday, Obama announced his support for gay marriage. The remaining tickets, which went for a minimum of $5,000 apiece, sold out within 24 hours. "There was a tremendous response," said one fundraiser.That was hardly the message the Obama campaign wanted to project. By the end of last week, campaign staffers were discouraging some of its more prominent LGBT fundraisers from speaking with the press. The concern,…

  • OpenSecrets Blog's PolitiQuizz: Attack of the 'Death Star'

    14 May 2012 | 3:45 pm
    It's election season. For politicians, that means two things: campaigning and fundraising. But for most Americans, it only means one: ads, ads, ads. And in this, the first presidential election since Citizens United v. Federal Election Commission -- wherein the U.S. Supreme Court overturned decades-long prohibitions on the ability of corporations, unions and other groups to pour millions into independent expenditures -- hundreds of super PACs are dominating the airwaves.But are they really? Yes and no.As of this writing, only 81 of the 535 super PACs that have received the Federal Election…
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    OPEC NEWS - Google News

  • OPEC oil price slightly rises - Kuwait News Agency

    16 May 2012 | 3:13 am
    OPEC oil price slightly risesKuwait News AgencyVIENNA, May 16 (KUNA) -- OPEC daily basket price stood at USD 108.70 a barrel Tuesday compared with USD 108.14 pb the previous day, according to a statement released on Wednesday by OPECNA, the news bulletin of OPEC (Organization of Petroleum Exporting and more »

  • OPEC sued for 'economic terrorism' - WND.com

    15 May 2012 | 10:16 pm
    WND.comOPEC sued for 'economic terrorism'WND.comMore ↓ An activist lawyer who has taken on leaders such as Mahmoud Ahmadinejad, Bill Clinton and Hugo Chavez has traveled to Austria to serve, personally, officials at OPEC with a lawsuit charging the cartel with “economic terrorism.and more »

  • OPEC reports soaring Venezuelan production by 2.8% - El Universal

    15 May 2012 | 11:33 am
    Greentech Media (blog)OPEC reports soaring Venezuelan production by 2.8%El UniversalIn April, in terms of volume of production, Venezuela ranked sixth among the 12 Member States of the Organization of Petroleum Exporting Countries (OPEC), according to the month report of the oil cartel. The extraction report, based on third-party Iraq Oil Output Beating Iran Ends Saddam Legacy: Energy MarketsBloombergIraq Oil Output Beating Iran Ends Saddam LegacyBusinessWeekOil prices likely to stay high despite good supply – IEAVanguardGreentech Media (blog) -Trend.az -SteelGuruall 20 news…

  • OPEC, China and an Airline: Unlikely Allies for US Drivers - Wall Street Journal

    15 May 2012 | 9:24 am
    Wall Street JournalOPEC, China and an Airline: Unlikely Allies for US DriversWall Street JournalBy LIAM DENNING What do OPEC, Delta Air Lines and the Chinese have in common? They might all help President Obama get re-elected this year. During the Republican primaries, high gasoline prices figured prominently in verbal volleys against the White Crude oil prices fall as Opec production risesThe NationalNigeria Leads OPEC To Stabilise Oil PriceLeadership NewspapersFurther fall in weekly OPEC oil pricesXinhuaReuters -Bloomberg -London South Eastall 983 news articles »

  • No Shortage of Oil in the Market - OPEC - AllAfrica.com

    14 May 2012 | 5:51 am
    Wall Street JournalNo Shortage of Oil in the Market - OPECAllAfrica.comBy Ben Ndubuwa, 13 May 2012 Organisation of Petroleum Exporting Countries (OPEC) has said that the Organisation is working hard to bring down oil prices that jumped towards $130 a barrel earlier this year. According to OPEC, more oil is being pumped OPEC Boosts Oil Production for Seventh Month on Iraq, IEA SaysBloombergOPEC Pushes Up Production to Highest Level Since 2008Wall Street JournalOil likely to stay high despite good supply - IEAReutersMarineLink -The Daily Star -New York Timesall 74 news…
 
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    OPEC News

  • OPEC daily basket price stood at $108.70 a barrel

    16 May 2012 | 4:48 am
    WAM Vienna, May 16th, 2012 -- The price of OPEC basket of twelve crudes stood at 108.70 dollars a barrel on Tuesday, compared with $108.14 the previous day, according to OPEC Secretariat calculations.

  • Iran rejects IEA report on "30 mln barrels unsold stored crude oil"

    16 May 2012 | 3:48 am
    Iran has rejected the International Energy Agency's report, which says that the country has stored up to 30 million barrels of unsold crude oil in oil tankers in the Persian Gulf.

  • UPDATE 1-Oil falls $1 on rise in U.S. stocks, econ woes

    15 May 2012 | 11:33 pm
    Oil prices fell more than $1 on Wednesday as a larger-than-expected rise in crude stocks in top consumer United States and fears of Greece's exit from the euro zone muddied the outlook for demand growth.

  • Falling Crude Prices Spark Worry for Eagle Ford Growth

    15 May 2012 | 7:24 pm
    That's because if oil prices fall too low, the expensive fracking and horizontal drilling used to exploit the estimated billion barrels of oil buried in shale formations 11,000 feet beneath south and southeast Texas will no longer be cost effective, and oil industry experts warn that when rigs are removed from an area, it is a lengthy and very ... (more)

  • Kuwait risks exhausting oil savings by 2017 - IMF

    15 May 2012 | 3:09 pm
    The International Monetary Fund headquarters building is seen in Washington, DC in this May 15, 2011 file photo.
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    OIL DRILLING NEWS - Google News

  • Loveland approves drilling moratorium - ReporterHerald.com

    16 May 2012 | 2:35 am
    Loveland approves drilling moratoriumReporterHerald.comAn emergency moratorium on the processing of any new permits or approvals for natural gas and oil drilling operations within Loveland took effect shortly after 9 pm with the required six councilors voting in favor of the measure that will remain in Loveland enacts emergency fracking ban, Fort Collins may followThe ColoradoanFort Collins, Loveland mull drilling bansNorthern Colorado Business ReportOil bans being considered in Loveland, Fort Collins city limitsThe Republic9NEWS.com -KUNCall 13 news articles »

  • Oil drilling plan divides Huasna Valley residents - San Luis Obispo Tribune

    16 May 2012 | 1:40 am
    Oil drilling plan divides Huasna Valley residentsSan Luis Obispo TribuneBy David Sneed | dsneed@thetribunenews.com More than 70 people weighed in Tuesday on whether oil drilling should be allowed in rural Huasna Valley. San Luis Obispo County supervisors held a half-day hearing on the Excelaron oil project.and more »

  • Tethys Petroleum Limited: Kazakhstan Oil Resource Upgrade - MarketWatch (press release)

    16 May 2012 | 1:01 am
    Tethys Petroleum Limited: Kazakhstan Oil Resource UpgradeMarketWatch (press release)It is also targeting a third target, a Jurassic sand similar to the horizon that tested oil in the AKD03 exploration well. To date, over 13000 bopd have been tested from exploration and appraisal wells in and around the Doris oil discovery.and more »

  • North Dakota takes No. 2 rank in oil drilling - Toledo Blade

    16 May 2012 | 12:05 am
    The GuardianNorth Dakota takes No. 2 rank in oil drillingToledo BladeNorth Dakota oil drillers pumped 17.8 million barrels in March, compared with 17.5 million in Alaska, though it is just over half of Texas's production. North Dakota owes its rapid rise from No. 9 six years to improved horizontal drilling techniques in ND becomes nation's second-leading oil producerBusinessWeekNorth Dakota Tops Alaska in Oil OutputWall Street Journalall 325 news articles »

  • Report finds little drilling damage - Albany Times Union

    16 May 2012 | 12:04 am
    Washington TimesReport finds little drilling damageAlbany Times Union"This study presents a compelling case that state oversight of oil and gas regulation has been effective," said Tim Considine, who wrote the inaugural report for the university's Shale Resources and Society Institute. The report examined Pennsylvania NY report: State regs reduce gas-drilling impactsBusinessWeekPennsylvania gets high marks for rein on drilling for gasWashington TimesGas-rich states lose fracking lotteryReutersSan Antonio Express -NPRall 198 news articles »
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    OFFSHORE DRILLING NEWS - Google News

  • Noble Corporation to Present at the UBS Global Oil and Gas Conference - Sacramento Bee

    16 May 2012 | 2:05 am
    Noble Corporation to Present at the UBS Global Oil and Gas ConferenceSacramento BeeNoble is a leading offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 79 offshore drilling units (including five ultra-deepwater rigs and six jackup drilling and more »

  • Obama challenges oil companies to drill existing leases - Houston Chronicle

    15 May 2012 | 8:41 pm
    ThinkProgressObama challenges oil companies to drill existing leasesHouston ChronicleAccording to the Department of Interior report, oil and gas companies are actively drilling or have launched development on less than a third of the 36 million acres they have leased offshore, and on just over half of their onshore leases.Report says drilling companies not pursuing oil and gas exploration on leased NewsOK.comBig Oil lets leases lie dormantThe Detroit News (blog)Report: Gulf drilling lowThe AdvocateTransportation Nation -ThinkProgress -FuelFix (blog)all 14 news articles »

  • Northern Offshore Reports First Quarter 2012 Results - MarketWatch (press release)

    15 May 2012 | 6:09 pm
    Northern Offshore Reports First Quarter 2012 ResultsMarketWatch (press release)Northern Offshore, Ltd. is a Bermuda holding company which operates offshore oil and gas drilling units and one production vessel in various markets around the world, including the North Sea, the Indian Ocean, the Mediterranean Sea and Southeast Asia.and more »

  • JPMorgan Chase Lowers Price Target on Diamond Offshore Drilling (DO) - Junction Report

    15 May 2012 | 2:53 pm
    JPMorgan Chase Lowers Price Target on Diamond Offshore Drilling (DO)Junction ReportResearch analysts at JPMorgan Chase (NYSE: JPM) cut their target price on shares of Diamond Offshore Drilling (NYSE: DO) from $75.00 to $73.00 in a report released on Tuesday. The firm currently has an “underweight” rating on the stock.

  • Statoil secures rig for drilling offshore Newfoundland - MarketWatch (press release)

    14 May 2012 | 11:15 am
    The TelegramStatoil secures rig for drilling offshore NewfoundlandMarketWatch (press release)CALGARY, May 14, 2012 /PRNewswire via COMTEX/ -- Statoil has reached an agreement to use Seadrill's West Aquarius deepwater drilling rig for Statoil's 2012-2013 exploration activities offshore Newfoundland, Canada. "We have ambitious exploration New drill rig for offshore Newfoundland and LabradorThe TelegramStatoil Employs Seadrill Rig - Analyst BlogNASDAQStatoil Agrees To Use Seadrill Rig Offshore NewfoundlandFox Businessall 37 news articles »
 
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    Peak Oil News and Message Boards

  • Acknowledging The Arrival Of Peak Government

    admin
    15 May 2012 | 7:06 pm
    Most informed people are familiar with the concept of Peak Oil, but fewer are aware that we’re also entering the era of Peak Government. The central misconception of Peak Oil — that it’s not about “running out of oil,” it’s about running out of cheap, easy-to-access oil — can also be applied to Peak Government: It’s not about government disappearing, it’s about government shrinking. Central government — the Central State — has been in the expansion mode for so long that the process of contracting government is completely alien to the nation, to those who…

  • Tom Murphy: Time to be honest with ourselves about our looming energy risks

    admin
    15 May 2012 | 11:26 am
    Chris Martenson:  Hello. Welcome to another ChrisMartenson.com podcast. I am your host, of course; Chris Martenson. And today we have the very good fortune of speaking with Tom Murphy, Associate Professor of Physics at the University of California, San Diego, and an avid writer on energy and growth-related matters on his website, Do The Math, which I believe is found at physics.ucsd.edu/dothemath. Tom uses simple, easy-to-understand math — yes, that four-letter word — to logically — I say quite logically — make the case that simply extrapolating past trends in energy…

  • India will cut oil imports from Iran by 11%

    admin
    15 May 2012 | 11:23 am
    A week after Secretary of State Hillary Clinton urged New Delhi to reduce its engagement with Tehran, India said it would cut Iranian oil imports by 11 percent in the coming year. The promised cut could constitute a significant step for India toward securing a waiver from U.S. sanctions before a June deadline — although officials here denied that they were motivated by U.S. pressure and some analysts questioned whether the move would be enough to satisfy Washington. The United States has already granted sanction waivers to Japan and 10 European countries after they announced cuts, but it…

  • U.S. coal generation drops 19 percent in one year, leaving coal with 36 percent share of electricity

    admin
    15 May 2012 | 8:19 am
    Power generation from coal is falling quickly. According to new figuresfrom the U.S. Energy Information Administration, coal made up 36 percent of U.S. electricity in the first quarter of 2012 — down from 44.6 percent in the first quarter of 2011. That stunning drop, which represented almost a 20 percent decline in coal generation over the last year, was primarily due to low natural gas prices. As EIA explains, natural gas generation will climb steadily this year, while coal will see a double-digit drop by the end of 2012: Natural‐gas‐fired generation continues to expand its share of…

  • Orlov: Down the Skyscraper

    admin
    15 May 2012 | 8:18 am
    It was Andrew Lawrence, the inventor of the skyscraper index, who pointed out that the building of the world’s tallest buildings is a good proxy for dating the onset of major economic downturns. His index has stood the test of time; the few times when it made an incorrect prediction can be adequately explained by exceptional circumstances, such as the onset of world wars. It is now being put to the test again, and we ignore its advice at our own peril. In “Skyscrapers and Business Cycles” Mark Thornton writes: “The ability of the index to predict economic collapse is surprising. For…
 
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    OilPrice.com Daily News Update

  • Why US Energy Policy cannot Rely on Natural Gas alone

    15 May 2012 | 11:31 am
    With natural gas prices at such low levels many people are attracted to focussing on natural gas to supply the majority of US energy, believing that the domestically produced product will protect them from global oil price fluctuations, and ensure energy security in the future. However focussing on one source of energy unbalances the US energy sector and puts the economy at risk in the long term.Energy policies must take a long term view and promote fuel diversity rather than choose a favourite energy technology to support. An energy strategy that…Read more...

  • The IMF are Warned that Oil Prices Could Double by 2022

    15 May 2012 | 10:43 am
    Despite crude oil already trading on the world markets at a historically high level of $113 a barrel, the International Monetary Fund (IMF) has been warned by its internal research team that in the next decade oil prices could climb to a permanent level double that which we are experiencing at the moment.The increase could have a dramatic effect on global trade of all kinds, as the report, entitled The Future of Oil: Geology v Technology, warns that the prices will be “uncharted territory for the world economy, which has never experienced…Read more...

  • Using Viruses to Create Electricity

    15 May 2012 | 10:40 am
    Objects with piezoelectric properties can convert mechanical energy into electrical energy, meaning that electricity can be cleanly produced just by thought movement. Scientists have been trying to find a way to use this phenomenon to create large amounts of electricity for decades, but most materials that can be used to create piezoelectric devices are highly toxic, somewhat limiting their widespread use.Scientists at the US Department of Energy’s Lawrence Berkeley National Laboratory have developed a method to create electricity via a piezoelectric…Read more...

  • Mexico has the Fastest Growing Wind Power Sector

    15 May 2012 | 10:39 am
    Mexico produces a large volume of greenhouse gases, and suffers from severe air pollution in its large cities, some of which, such as Mexico City,  have the worst air particle pollution in North America.In an effort to reduce the countries carbon emissions Mexico is looking to invest more to develop its renewable energy sector. At the beginning of 2012 President Calderón signed the Mexican Global Climate Change Program. The progam pledged $70 million over five years as part of an agreement to cooperate with the US on stimulating the…Read more...

  • As Saudi Oil Giant Expands, Can it Meet Mounting Security Concerns?

    14 May 2012 | 10:49 pm
    Already the largest oil exporter in the world, state-owned Saudi Aramco plans to significantly expand refining capacity and for the first time ever to venture into oil trading, which could render it the world’s largest integrated energy company; but mounting security threats pose a serious challenge to these ambitious goals. Aramco Trading, which opened in January, plans to move 1.5 million barrels per day in physical oil and gas, paper, futures and derivatives trading. The move coincides with Aramco’s goal of doubling its refining…Read more...
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    Palm Oil HQ Daily Update

  • Crude Palm Oil Ends Up But Lackluster Export Demand Caps

    Palm Oil HQ
    15 May 2012 | 6:07 am
    Crude palm oil futures on Malaysia’s derivatives exchange partially recouped recent losses Tuesday, as better-than-expected German GDP numbers offered some relief for investors, though lackluster export numbers capped gains, trade participants said. The benchmark July contract on the Bursa Malaysia Derivatives exchange ended 2.4% higher at MYR3,225 a metric ton after hitting an intraday low [...]

  • Crude Palm Oil Falls To 2-Month Low On Global Cues

    Palm Oil HQ
    11 May 2012 | 5:55 am
    Crude palm oil futures on Malaysia’s derivatives exchange slipped to a two-month low Friday, mirroring declines in regional stocks and commodities as disappointing Chinese economic data added to worries over global growth. The benchmark July contract on the Bursa Malaysia Derivatives exchange ended 2.2% lower at MYR3,275 a metric ton after falling as much as [...]

  • Crude Palm Oil Ends Down On Europe; Industry Data In Focus

    Palm Oil HQ
    9 May 2012 | 6:31 am
    Crude palm oil futures on Malaysia’s derivatives exchange fell Wednesday, with investors exiting riskier bets amid resurfaced fears over euro-zone debt and ahead of a slew of industry data due Thursday. Developments in Europe dominated investor concerns, as political turmoil in Greece and political parties’ failure to form a new government heightened uncertainty about the [...]

  • Crude Palm Oil Slips On Profit-Taking, Euro-zone Concerns

    Palm Oil HQ
    8 May 2012 | 6:06 am
    Crude palm oil futures on Malaysia’s derivatives exchange gave up gains made earlier Tuesday as investors locked in profits amid euro-zone debt worries, although losses were limited by supportive fundamentals. The benchmark July contract on Bursa Malaysia Derivatives ended 0.3% lower at MYR3,351 metric ton after trading in a narrow MYR3,351-MYR3,388/ton range. July soyoil on [...]

  • Crude Palm Oil Falls, Hits 6-Week Low; Export, MPOB Data In Focus

    Palm Oil HQ
    4 May 2012 | 6:02 am
    Crude palm oil futures on Malaysia’s derivatives exchange fell for a fourth consecutive day and touched a six-week low Friday as disappointing economic data this week generated worries about global economic growth. Most market participants refrained from making aggressive bets ahead of a slew of data due to be released next week. The benchmark July [...]
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    Crude Oil Insights

  • CRUDE OIL PRICE OUTLOOK- Bearish Trend and Rogue Trading

    scheheryar
    14 May 2012 | 6:17 am
    Oil is continuing its downward trend as more bearish news continues to surface. Today media pinpointed the following issues: Reuters reports that Brent crude slipped below $112 today as traders focused on the negatives. Greece talks to form a coalition failed which is causing political indecisiveness across the region. Germany, the largest economy in EU is expected to release its flash Gross Domestic Product tomorrow. The effects of worsening demand of China are also weighing down on the market. Talks are expected with Iran over the coming weeks and their results will determine the flow of…

  • CRUDE OIL PRICE OUTLOOK- Disappointing Chinese Demand

    scheheryar
    14 May 2012 | 5:11 am
    The much anticipated data on Chinese demand went out on Thursday and now markets are reacting to it. US crude oil supplies are also reaching ever-higher levels and the outcome from the elections in France and Greece to the sovereign debt crisis is highlighted in the following media updates today: Mark Shenk of Bloomberg reports oil dropping in price on sixth consecutive day, which is the longest downtrend since almost two years. US stockpiles increased to 3.65 million barrels to the expected 2 million barrels. Greece is also struggling to form a government and has heavy scheduled debt…

  • CRUDE OIL PRICE OUTLOOK- Elections in Greece and France

    scheheryar
    7 May 2012 | 11:35 pm
    The crucial elections in France and Greece finally took place and the markets’ reaction is seen as bearish. Whether this trend will continue or not depends on perhaps the sole bullish feature; whether EU will implement the ban on Iranian oil or not. Investors are waiting this week for China to generate data on its economy so that they can see the latest economic conditions clearly. On Thursday, Fed Chairman Ben Bernanke’s speech is also anticipated. Chikako Mogi of Reuters highlights that defeat of the ruling parties in France and Greece led to risk aversion in the market which caused the…

  • CRUDE OIL PRICE OUTLOOK- Volatility Reigns Again

    scheheryar
    7 May 2012 | 12:46 am
    Volatility has returned to the market. With the Iran situation tension slithering down the oil market has focused on the demand side and the health of the economies of US and European nations. This is precisely what caused such a dramatic drop in oil prices in just over a day or so. Comprehensive coverage by Bloomberg Mark Shenk highlights these points: This is the first time that WTI oil fell below $100 barrier since February. US employers inducted fewer labor than expected and combine this demand situation with the current highest level of inventories in twenty one years. 160,000 increases…

  • CRUDE OIL PRICE OUTLOOK- Preparations for the Summer

    scheheryar
    2 May 2012 | 11:34 pm
    Swings are common in the oil market as today’s analysis shows. Summer season is almost at the footstep and preparations are underway. Is the oil price downward trend temporary and will be offset by the higher demand in the summer season? Media explores this point and a number of other relevant highlights in today’s print: Reuters reports that NYMEX held steady a day after a sharp increase due to higher manufacturing growth in US than expected. This data was anticipated a while ago and was predicted to lower the prices due to falling growth instead.  The key data HSBC final PMI reading…
 
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    This Just In

  • Wife of former Syracuse coach accused of molesting ball boys to speak

    lmungin
    16 May 2012 | 3:46 am
    Laurie Fine, the wife of a former Syracuse University assistant basketball coach accused of molesting ball boys, will break her months-long silence Wednesday to address what she calls false accusations in the case, her lawyers say. Bernie Fine was fired from Syracuse in November after several ball boys came forward and said the basketball coach molested them. Bernie Fine, who has not been charged with a crime, has maintained his innocence, saying shortly after the allegations surfaced that they were "patently false in every aspect." Former Syracuse ball boys Bobby Davis and his…

  • City pays $1 million to mother of homeless man beaten to death by police

    etpayne
    16 May 2012 | 3:39 am
    The City of Fullerton, California, has reached a $1 million settlement with the mother of a mentally ill homeless man who died last year after a beating he received at the hands of police officers. The city council unanimously approved the award during a closed-door session on Tuesday, an attorney for Cathy Thomas said. "To lose a son at the hands of rogue police officers is an indescribable horror," the attorney, Brian Gurwitz, said. "There is nothing this council could ever do to compensate her for the loss she's suffered." The settlement comes a week after a…

  • Part of Russian plane's flight recorder found in Indonesia

    jethromullencnn
    16 May 2012 | 2:11 am
    Indonesian authorities said Wednesday that they had found part of the flight recorder of the Russian passenger jet that crashed into the side of a volcano during a demonstration flight last week, killing 45 people. Searchers retrieved the cockpit voice recorder, which records communication between pilots and air traffic controllers, but have so far been unable to locate the flight data recorder, said Vice Marshal Daryatmo, head of the National Search and Rescue Agency. He said the voice recorder would be brought to Jakarta for analysis. Rescue workers found no survivors from the Sukhoi…

  • Infected student makes progress; ups and downs forecast

    etpayne
    16 May 2012 | 12:20 am
    The doctors for Aimee Copeland are promising a "roller coaster ride of highs and lows" in the coming weeks and months as she struggles against a rare "flesh-eating" bacteria, her father said. "Each day we claim some small victory," Andy Copeland wrote Tuesday evening in his blog that details his daughter's battle. "We don't have to see physical progress, we seem to take comfort from simple words, silly actions and quiet moments." Aimee Copeland, who has been on life support since May 4, is in intensive care at Doctors Hospital in Augusta,…

  • Long-awaited Mladic war crimes trial begins Wednesday

    jethromullencnn
    15 May 2012 | 11:36 pm
    Ratko Mladic, who is accused of orchestrating a horrific campaign of ethnic cleansing during the bloody civil war that ripped apart Yugoslavia, goes on trial Wednesday at the International Criminal Tribunal for the former Yugoslavia in The Hague, Netherlands. Prosecutors say Mladic's campaign included the massacre of 8,000 Muslims in the Bosnian town of Srebrenica. The 70-year-old former Bosnian Serb general has been indicted on 11 counts of genocide, war crimes and crimes against humanity in the 1992-95 war. On Monday, his lawyers filed a petition to delay his trial by six months,…
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    Energy, Markets and Money

  • The Spanish Banking Reform And The Devil's Alternative

    14 May 2012 | 9:03 am
    (This article was published in Cotizalia on May 12th 2012)There is hope and doubt among investors following the announcement of the Spanish financial reform. And like it or not, investors are the only real solution to help finance the so-called "property management agencies" (bad bank), the term used for the entities that will house the toxic assets of Spanish banks, generated after a decade of real estate bubble.There is hope because it is the first reform that looks real. But there are doubts, especially because it is not clear which will be the discount to be applied to the valuation of…

  • Argentina, Repsol and the Nationalization of YPF

    22 Apr 2012 | 4:20 am
    (This article has been updated from posts published in Cotizalia on 25th Feb 2012 and 21 April 2012)Most of Repsol's stake (shares amounting to 51%) in YPF was expropriated on April the 16th.The expropriation comes as Argentina's economy slumps despite official figures that seem attractive at first glance, GDP growing 8.8%, 6.7% unemployment, trade surplus and growing by 2%. Sounds good, right? Except official surplus of $143 million in January is accompanied by a fiscal deficit of almost $1 billion annually.Official figures hide an unemployment level that is estimated to be several times…

  • What happened to put Spain on the verge of intervention?

    11 Apr 2012 | 3:46 am
    (This article was published in Cotizalia on April 7th 2012)"Italy is not Spain". This is the most repeated sentence in Italy this past week. However, along with Spain at 430bps, Italian bond spreads against the Bund rose to 400bps. Does this remind you of anything? Rewind to July 2011. When we heard "Spain is not Greece", "we don't have a problem of public debt", "we are doing our homework.". Anyway ... time puts everything in context. We talked about it here months ago (read).However, after the announcement of Spain's budget, the Ibex (at the close of this article), plummeted to 7,500…

  • China Shale Gas... The New Frontier

    19 Mar 2012 | 3:55 am
    China is really pushing its shale gas resource opportunity. And this will likely be another nail in the coffin for renewables in the country.The NDRC (http://en.ndrc.gov.cn/) has unveiled its strategic plan to explore and develop China's huge shale resources. The plan sets a very ambitious growth and drilling plan, that will most surely find itself challenged by the lack of infrastructure and the technical issues, but nothing that will not be surmounted with a huge amount of international oil companies' money and government incentives. What shale gas in China will likely do is have the…

  • Attack Iran? Is It A Good Idea?

    17 Mar 2012 | 11:46 am
    The picture above shows the recent move of warfare ships in the region (via zerohedge).According to Israel's NRG and CNBC, Netanyahu has achieved a majority (8 over 6) supporting an Iran attack. NRG also notes that at this point Israel has decided to not wait until the US elections in November before proceeding with an attack. I believe Israel is trying to push the US administration and Europe to be more forceful and strong in its sanctions against Iran, but as my friend David Simantob mentioned in my Facebook account:  "I think what we are dealing with is a lot of noise from Israel…
 
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