Posts Tagged ‘oil’

Credit: Entek Corp.


This overlooks the fact that ‘the majority of petroleum is converted to petroleum products, which includes several classes of fuels’. It also includes ‘conventional fertilizers [which] are commonly derived from petroleum. In fact, a single 40-pound bag contains the equivalent of 2.5 gallons of gasoline.’ Electricity is only a manufactured power source, as far as national networks are concerned.

Electricity is “the new oil” and the effect of increasing global electrification is having a “very deep rippling effect for the power sector”.

That was one of the highlights this morning at the launch of the International Energy Agency’s annual World Energy Outlook, reports PEI.

Laura Cozzi, head of the IEA’s Energy Demand Outlook Division, said: “We are seeing growing electrification happening throughout the energy sector – electricity going into sectors that were confined to other fuels before: most notably, cars, but also heating and cooling.”

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Rex Tillerson

Rex Tillerson

After years of being persecuted by climate alarmists, the oil giant Exxon now finds its CEO nominated for a top post
in the next US government. What’s he like? Tough at times, as this BBC report notes: ‘At the Exxon AGM, journalists from the Guardian were barred from the meeting in Dallas – Exxon argued that the newspaper was not “objective” in their reporting.’

Good news for environmental campaigners: President-elect Trump has finally nominated someone to his cabinet who actually believes in climate change science.

The bad news for those same campaigners is that this true believer happens to be CEO of Exxon Mobil, and also sees fossil fuels as critical to humanity’s survival.

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Pipeline cancelled [image credit: americaherald.com]

Pipeline cancelled [image credit: americaherald.com]


The political ducking and weaving is over. After years of indecision, there will be no new oil pipeline from Canada to the US, as BBC News reports.

US President Barack Obama has announced he is rejecting an application to build the Keystone XL pipeline from Canada. Speaking from the White House, he said it would not have served the “national interests” of the US.

Its construction has been hotly disputed for seven years, with environmentalists saying it would do irreparable damage. But the president said the pipeline had taken on an “overinflated role” in the climate change debate.

The proposed pipeline would have run 1,179-miles (1,897km) taking 800,000 barrels of oil a day from Alberta, Canada, to Steele City, Nebraska. But Mr Obama said it would not have: lowered petrol prices, created long-term jobs, or affected energy dependence. “The pipeline would not make a meaningful long-term contribution to our economy,” he said.

Republican presidential candidates condemned the news, with Jeb Bush calling it an attack on the US economy.

Full report: US rejects Keystone XL pipeline from Canada – BBC News

They will just have to keep sending the oil by rail.

Decision time [image credit: AP Photo/Tony Gutierrez]

Decision time [image credit: AP Photo/Tony Gutierrez]


After all the political argy-bargy, the final decision on the controversial oil pipeline plan is due as The New Republic explains. But the oil producers are already moving their product in other ways. Whether it’s still worth it with oil down near $40 a barrel is another matter.

Environmentalists have been waiting since 2008 for President Barack Obama’s decision on whether to approve the Keystone XL pipeline. That decision may come any day now. But Canada’s tar sands industry hasn’t been waiting around.

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Saudi Britannia?

Posted: April 15, 2015 by oldbrew in Energy, Politics
Tags: ,
Nodding donkey, or pump jack [credit: Wikipedia]

Nodding donkey, or pump jack [credit: Wikipedia]

Is this North Sea oil and gas – part 2, or will British politicians shy away from the wealth under our feet, citing nebulous climate theories that don’t work in the real world?

Huw Jenkins of Shale Energy Insider reports:
Following reports that the Jurassic Kimmeridge formation in England could contain more oil than Saudi Arabia’s Ghawar – the world’s largest oil reserve – the conversation about oil and gas drilling in England is heating up, once again.

Chris Faulkner, CEO of Breitling Energy Corporation based in Dallas, Texas, known by the media as the ‘Frack Master’, thinks that the reports are a “game changer” for England and that shale exploration will still be viable in the UK, despite oil and gas prices.

“We knew about this potential long before it became news and now UKOG has proven what the geology showed.  This is actually an extension of the same formation that was being extracted in the North Sea. It just comes on land, and ironically is not far from Gatwick Airport,” Faulkner said.

“This is a game changer for England, and they will now have to shift their entire focus on how to approach oil and gas production.  There’s too much at stake now for them not to,” he added.

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