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sidd

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Re: Oil and Gas Issues
« Reply #2000 on: December 19, 2017, 09:24:09 PM »

Bob Wallace

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Re: Oil and Gas Issues
« Reply #2001 on: December 19, 2017, 11:28:20 PM »
I suspect this is total BS, but thought I should ask here.  Perhaps it's only 50 - 70% BS

Quote
IEA Debunks Enviro Claims That Methane Leaks Are Wiping Out Natural Gas’ Climate Benefits
......the global warming potential of natural gas over a 20-year (GWP20) and 100-year (GW100) timeframe is still far lower than other traditional sources of energy even at leakage rates far higher than IEA’s current estimated global leakage rate of 1.7 percent.....

https://energyindepth.org/national/iea-debunks-enviro-claims-methane-leaks-wiping-out-natural-gas-climate-benefits/

Perhaps it's low BS.

We know that methane leaks can be plugged and minimized.  We've got data showing that NG wells don't have to leak much at all if proper practices are followed.  The large Northern California utility, PG&E, has been testing and fixing leaks in their distribution system.  Perhaps other utilities are doing the same.

Finding and fixing leaks on the main transmission lines are easier than in the distribution system.  Big pipe vs. lots and lots of little pipes running under streets and inside buildings.

We know that MWh per MWh NG produces about half as much CO2 as coal.

The findings could be accurate.  But with any study don't get too on-board until there's some verifying evidence. 
 

ghoti

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Re: Oil and Gas Issues
« Reply #2002 on: December 20, 2017, 02:10:45 AM »
Google Street View has tried to measure NG leaks in cities:

https://www.edf.org/climate/methanemaps

The measurements aren't terribly precise but results are still very clear that older systems desperately need fixing.


Bob Wallace

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Re: Oil and Gas Issues
« Reply #2003 on: December 20, 2017, 02:18:23 AM »
Google Street View has tried to measure NG leaks in cities:

https://www.edf.org/climate/methanemaps

The measurements aren't terribly precise but results are still very clear that older systems desperately need fixing.

This is really good.  I'd like to see them drive along the supply lines that run between wells and gas plants.  Let's see if leaks are happening there.

Richard Rathbone

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Re: Oil and Gas Issues
« Reply #2004 on: December 20, 2017, 05:22:19 PM »
I suspect this is total BS, but thought I should ask here.  Perhaps it's only 50 - 70% BS

Quote
IEA Debunks Enviro Claims That Methane Leaks Are Wiping Out Natural Gas’ Climate Benefits
......the global warming potential of natural gas over a 20-year (GWP20) and 100-year (GW100) timeframe is still far lower than other traditional sources of energy even at leakage rates far higher than IEA’s current estimated global leakage rate of 1.7 percent.....

https://energyindepth.org/national/iea-debunks-enviro-claims-methane-leaks-wiping-out-natural-gas-climate-benefits/

The uncertainty in methane leak estimation is huge. There's nothing here that changes that, and consequently nothing here that debunks anything.

Bob Wallace

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Re: Oil and Gas Issues
« Reply #2005 on: December 20, 2017, 05:26:15 PM »
I suspect this is total BS, but thought I should ask here.  Perhaps it's only 50 - 70% BS

Quote
IEA Debunks Enviro Claims That Methane Leaks Are Wiping Out Natural Gas’ Climate Benefits
......the global warming potential of natural gas over a 20-year (GWP20) and 100-year (GW100) timeframe is still far lower than other traditional sources of energy even at leakage rates far higher than IEA’s current estimated global leakage rate of 1.7 percent.....

https://energyindepth.org/national/iea-debunks-enviro-claims-methane-leaks-wiping-out-natural-gas-climate-benefits/

The uncertainty in methane leak estimation is huge. There's nothing here that changes that, and consequently nothing here that debunks anything.

Quote
And this news is made even better by fact that U.S. leakage rates are even lower than the 1.7 percent global average. According to the most recent Environmental Protection Agency (EPA) Inventory of U.S. Greenhouse Gas Emissions and Sinks, U.S. natural gas systems had a methane leakage rate of 1.2 percent in 2015 – which is 30 percent lower than global average.

ghoti

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Re: Oil and Gas Issues
« Reply #2006 on: December 20, 2017, 07:02:53 PM »
Where it has been checked methane leak rates have been massively higher than reported by industry (which is what EPA uses).

https://thetyee.ca/News/2017/04/27/Canada-Methane-Leakage-Under-Reported/

sidd

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Re: Oil and Gas Issues
« Reply #2007 on: December 20, 2017, 10:59:56 PM »
Salman goes after more: " ... more people being questioned and banks freezing more accounts ... "

https://www.bloomberg.com/news/articles/2017-12-20/saudi-arabia-is-said-to-freeze-more-bank-accounts-in-crackdown

The guy's desparate. Does he have news about the real state of Saud reserves and/or oilfields ?

sidd

TerryM

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Re: Oil and Gas Issues
« Reply #2008 on: December 20, 2017, 11:27:16 PM »
Salman goes after more: " ... more people being questioned and banks freezing more accounts ... "

https://www.bloomberg.com/news/articles/2017-12-20/saudi-arabia-is-said-to-freeze-more-bank-accounts-in-crackdown

The guy's desparate. Does he have news about the real state of Saud reserves and/or oilfields ?

sidd
I fear that once you start down the path of torturing subjects and confiscating their assets, all future problems resolve themselves to be about recalcitrant citizens and their excessive holdings.
Terry 

Sigmetnow

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Re: Oil and Gas Issues
« Reply #2009 on: December 21, 2017, 12:56:27 AM »
California sues Trump administration over global-warming gas rules
Quote
California Attorney General Xavier Becerra sued the Trump administration Tuesday for suspending regulations meant to curb emissions of the greenhouse gas methane, the latest front in the state’s battle with Washington over climate-change rules for the oil and natural gas industries.

The suit, filed in federal court in San Francisco, claims that the U.S. Bureau of Land Management acted irresponsibly this month when it delayed an Obama-era policy capping methane leaks and flaring at oil and gas wells. ...
http://www.sfgate.com/news/article/California-sues-Trump-administration-over-12441524.php
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2010 on: December 21, 2017, 08:09:22 PM »
France’s ban on oil drilling could keep 5 billion barrels in the ground.
Quote
For a country that already imports 99 percent of its oil, France’s decision to end all new oil development and phase out existing projects by 2040 may not seem all that meaningful. The Guardian called it a “largely symbolic gesture.”

But actually, as geoscientist Erik Klemetti noted, France is committing to keeping a massive oil reservoir in the ground. The Paris Basin, a region in northern France, may contain nearly as much underground petroleum as the huge Bakken Formation in North Dakota. Extracting that oil and gas would require extensive fracking. ...
https://grist.org/briefly/frances-ban-on-oil-drilling-could-keep-5-billion-barrels-in-the-ground/
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solartim27

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Re: Oil and Gas Issues
« Reply #2011 on: December 22, 2017, 08:34:49 AM »
More absolute crap from the oil prfirm that I posted about previously. Seen on Twitter

http://eidhealth.org/new-report-finds-marcellus-shale-development-unrelated-to-pa-mortality-rates/
Quote
Mortality rates in the six Pennsylvania counties with the most Marcellus Shale development have declined or remained stable since shale production began in the region, according to a new Energy In Depth-commissioned report. The findings directly refute accusations from anti-energy groups that the fracking boom is a threat to public health
FNORD

sidd

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Re: Oil and Gas Issues
« Reply #2012 on: December 23, 2017, 10:01:16 PM »

TerryM

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Re: Oil and Gas Issues
« Reply #2013 on: December 24, 2017, 04:58:33 AM »
One killed. 6 billion for Talal to walk. Salman ups the pressure.

http://www.middleeasteye.net/news/arabic-press-review-1383981136

https://www.wsj.com/articles/the-price-of-freedom-for-saudi-arabias-richest-man-6-billion-1513981887

sidd
So many questions spring to mind.


Is this enough to pay for all of those weapon systems the Saudi's ordered?


Takes us back to the old question of the value of a single human life - but puts a very high value on this particular one.


I'm sure his wife(s) are more than willing to live in relative poverty just to be able to live it with him, aren't they?


Is kidnaping insurance a real thing?
Terry

sidd

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Re: Oil and Gas Issues
« Reply #2014 on: December 24, 2017, 08:05:11 AM »
The weird part is that Salman got a billion from Miteb al Abdullah and let him walk early. Then he turned round and spent most of it on a (possibly fake) Leonardo and a chateau in France.  Now he wants six billion for Talal.

I mean, in the context of Saud this is supposed to be small change. He looks like he's digging for coins in the couch to pay the hookers. I find it hard to believe he is just ransoming and torturing people to exhibit power.

sidd

TerryM

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Re: Oil and Gas Issues
« Reply #2015 on: December 24, 2017, 09:11:33 AM »
Capturing, torturing, accepting ransom, then allowing these very powerful, very rich gentlemen with very strong family connections to walk free doesn't sound like a plan designed for longevity.


Why would anyone hoping for a long life do such a thing?
Terry

Sigmetnow

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Re: Oil and Gas Issues
« Reply #2016 on: December 24, 2017, 04:21:11 PM »
Congress Opens Arctic Wildlife Refuge to Drilling, But Do Companies Want In?
With the tax bill signed, conservationists vow to 'shine a very bright light' on any company planning to drill one of the nation's last untouched wilderness areas.
Quote
The Arctic National Wildlife Refuge is open for drilling, thanks to the tax bill passed by Congress this week and signed Friday by the president, but one key question remains: Now that oil companies can drill in the refuge, will they jump at the chance?

A provision tucked into the Republican tax overhaul calls for opening the refuge's coastal plain, a 1.5 million acre stretch of land that did not share the rest of the refuge's protected status. Republicans have fought for decades to allow drilling there.

But those hoping that oil companies will flock to the refuge—and that revenues raised can help offset some of the deficit created by the tax bill—might be sorely disappointed, said Bud Coote, a senior fellow with the Atlantic Council's Global Energy Center.

"In the current economic environment, it'll be a tough sell," he said. The coastal plain is in the northeastern corner of Alaska, far from the infrastructure and proven reserves of the North Slope. Compounding those challenges are the low price of oil and the fact that not much is known about how much oil is in the refuge. ...
https://insideclimatenews.org/news/20122017/arctic-national-wildlife-refuge-open-drilling-oil-tax-bill-congress-trump
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Bob Wallace

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Re: Oil and Gas Issues
« Reply #2017 on: December 24, 2017, 07:00:16 PM »
There have been recent discoveries of very large oil reserves on Alaska's North Slope in areas outside the  Arctic National Wildlife Refuge.

https://www.adn.com/business-economy/energy/2017/12/22/federal-report-finds-huge-increase-in-north-slope-oil-potential/?utm_source=ADN&utm_campaign=2cebe0746a-mailchimp_morning_newsletter&utm_medium=email&utm_term=0_0facd10a14-2cebe0746a-246087778

There will be no need to move into the Refuge as there is more than enough in the areas where oil is already being extracted. 

The upside of this is that it probably kills any oil drilling in the Arctic Ocean.  Offshore in a very harsh environment would be expensive.  It will be cheaper to just shift North Shore drilling/transporting infrastructure a modest distance to tap the newly found resources.

And then there are EVs.

It has to be extremely clear to oil companies that EVs are going to be eating into oil demand in only a few years.  It isn't going to make sense to spend billions opening up new oil fields when there may be no demand for that oil by the time pumping could start. 

The production cost of North Slope oil is over $50/barrel which would price it out of an oil market with even 25% decreased demand.  The lower cost oil producers can fill that need and will price where it lets them sell as much as they can before demand collapses further.


numerobis

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Re: Oil and Gas Issues
« Reply #2018 on: December 24, 2017, 09:46:54 PM »
Quote
Offshore in a very harsh environment would be expensive.

$75/barrel according to our government geologist.

Sigmetnow

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Re: Oil and Gas Issues
« Reply #2019 on: December 25, 2017, 01:37:13 AM »
December 20

In Victory for Standing Rock Sioux Tribe, Court Finds That Approval of Dakota Access Pipeline Violated the Law.
Quote
The Standing Rock Sioux Tribe won a significant victory today in its fight to protect the Tribe’s drinking water and ancestral lands from the Dakota Access pipeline.

A federal judge ruled that the federal permits authorizing the pipeline to cross the Missouri River just upstream of the Standing Rock reservation, which were hastily issued by the Trump administration just days after the inauguration, violated the law in certain critical respects.

In a 91-page decision, Judge James Boasberg wrote, “the Court agrees that [the Corps] did not adequately consider the impacts of an oil spill on fishing rights, hunting rights, or environmental justice, or the degree to which the pipeline’s effects are likely to be highly controversial.”

The Court did not determine whether pipeline operations should be shut off and has requested additional briefing on the subject and a status conference next week. ...
https://www.dailyflash24.com/2017/12/20/in-victory-for-standing-rock-sioux-tribe-court-finds-that-approval-of-dakota-access-pipeline-violated-the-law/
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2020 on: December 25, 2017, 09:22:55 PM »
So... a peaker plant, then:
“Tallawarra Power Station is a 435-megawatt (583,000 hp) combined cycle natural gas power station[1] in the city of Wollongong, New South Wales, Australia. Owned and operated by EnergyAustralia, the station is the first of its type in New South Wales[2] and produces electricity for the state during periods of high demand.”  — wikipedia

tallawarra dropped 400MW (!!!) without warning this afternoon.
these fossils are going to need a huge battery pack to be made reliable!
    https://twitter.com/simonahac/status/945274286486429697

Merry Christmas!!
(Looks like Tallawarra took the afternoon off for Christmas too)
    https://twitter.com/dylanjmcconnell/status/945243361417478145
Image below
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TerryM

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Re: Oil and Gas Issues
« Reply #2021 on: December 25, 2017, 10:39:06 PM »
Any idea on why these plants are suddenly dropping like flies? This is old technology that should have had the bugs worked out decades ago.


Sabotage?
Terry

Bob Wallace

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Re: Oil and Gas Issues
« Reply #2022 on: December 25, 2017, 11:08:17 PM »
I suspect most of us are unaware how often large thermal plants suddenly go offline.  I've never seen a database of coal plant outages.

I've been tracking US nuclear plant outages for awhile and the frequency is high.

sidd

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Re: Oil and Gas Issues
« Reply #2023 on: December 26, 2017, 09:46:09 AM »

Sigmetnow

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Re: Oil and Gas Issues
« Reply #2024 on: December 26, 2017, 09:13:22 PM »
Any idea on why these plants are suddenly dropping like flies? This is old technology that should have had the bugs worked out decades ago.


Sabotage?
Terry

Old age! ;)

“The Mt Piper unit remains out of service, due to tube leaks, along with a 420MW unit at Liddell (out for six months due to turbine blade issues), and lingering problems at another 560MW unit (Unit 1) at Loy Yang A, which has been out for more than a month since tripping in early November.”

From the Coal thread:
Australia, December 20.

”AEMO can predict with a large degree of accuracy any swings in output from wind and solar, but has made it clear that supply is most threatened by unexpected outages from a large thermal unit.”

Intermittent: Another big coal unit trips – that’s four in a week
Quote
A 700MW unit at the Eraring coal fired power station in New South Wales tripped on Monday afternoon, taking to four the number of big coal units that have failed without warning in less than a week.

The failure of the Eraring unit at 6pm on Monday follows unexpected trips at of a 420MW unit at Milmerran in Queensland on Tuesday, a 700MW unit at Mt Piper in NSW on Wednesday, and a 560MW unit at Loy Yang A (unit 3) in Victoria on Thursday.

The Mt Piper unit remains out of service, due to tube leaks, along with a 420MW unit at Liddell (out for six months due to turbine blade issues), and lingering problems at another 560MW unit (Unit 1) at Loy Yang A, which has been out for more than a month since tripping in early November.

It means that, aside from the unexpected trips, the equivalent of another Hazlewood power plant (more in fact) is out of service and unavailable as the summer heat intensifies.

The intermittent and unreliable nature of the coal fired power stations will be of particular concern to the Australian Energy Market Operator, charged with keeping the lights on and hoping it has enough reserve capacity to deal with failing coal and gas units.

AEMO last week issued a market notice pleading for operators to check their equipment and make sure it was in a good operational state and able to deliver something close to its rated capacity.

It is worried of a repeat of the events in NSW last February, when with two of four units at Liddell sidelined (840MW), the two biggest gas generators (more than 1,100MW) failed and a widespread blackout was only narrowly averted.
...
http://reneweconomy.com.au/intermittent-another-big-coal-unit-trips-thats-four-in-a-week-47037/
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oren

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Re: Oil and Gas Issues
« Reply #2025 on: December 27, 2017, 10:23:35 PM »
This may already have been discussed hereabout, but I thought it worth quoting anyway, as it comes from a mainstream source.
Quote
2. The biggest story in oil equities this year was Royal Dutch Shell’s decision to sell about $30 billion in upstream assets and concentrate its future business on downstream product production rather than oil drilling. Over the past year, Shell (NYSE:RDSa) either sold or looked to sell $587 million in assets in Gabon, $1.23 billion in gas assets in Ireland, $500 million in gas assets in Tunisia, $1 billion in assets in New Zealand. Part of this divestment strategy comes from a need to eliminate “nonstrategic assets” from Shell’s balance sheet. However, Shell’s CEO portrayed the shift as a response to growth in the electric vehicle market and forecasts of “peak oil demand.”

Shell’s decision to invest less money in upstream asset development is emblematic of a divergence among major oil companies that will continue in 2018. Some oil companies (Shell among them) are investing less in asset development and instead seeking value in petrochemicals, renewables, or refining. Other companies, particularly national oil companies like Aramco, are continuing or even expanding their investment in upstream asset development. Oil majors that choose to sell off upstream assets will see higher stock prices, in the short term. However, it is unclear if downstream assets and renewables will yield the kind of profits these companies have traditionally seen with the production and sale of crude oil in times of high oil prices. Look for this divergence to grow wider in 2018.
https://www.investing.com/analysis/top-5-oil-market-events-of-2017-and-what-to-expect-in-2018-200275960

gerontocrat

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Re: Oil and Gas Issues
« Reply #2026 on: January 01, 2018, 03:52:09 PM »
An article about how the American Petroleum Institute knew all about CO2 and global warming a long, long time ago.

I hope the people who are suing Exxon etc have access to the documents quoted, as they demonstrate clearly that the oil companies knew the consequences of what they were doing.

https://www.theguardian.com/environment/climate-consensus-97-per-cent/2018/jan/01/on-its-hundredth-birthday-in-1959-edward-teller-warned-the-oil-industry-about-global-warming
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2027 on: January 02, 2018, 09:43:13 PM »
To round out a year of rollbacks, the Trump administration just repealed key regulations on fracking
Quote
On the last business day of the year, the Interior Department rescinded a 2015 Obama administration rule that would have set new environmental limitations on hydraulic fracturing, or fracking, on public lands.

The regulation from the Bureau of Land Management, which had been opposed by the oil and gas industry and tied up in court, would have tightened standards for well construction and wastewater management, required the disclosure of the chemicals contained in fracking fluids, and probably driven up the cost for many fracking activities.

It had been held up in litigation and had not taken effect; a Wyoming district court said it exceeded the agency’s authority. Reversing the regulation, the Interior Department says, clears up that legal question and also lifts a costly regulation for the industry, in line with President Trump’s agenda to slash regulations and advance the United States’ “energy dominance.” ...
https://www.washingtonpost.com/amphtml/news/energy-environment/wp/2017/12/29/to-round-out-a-year-of-rollbacks-the-trump-administration-just-repealed-key-regulations-on-fracking/
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2028 on: January 02, 2018, 09:49:16 PM »
Because there’s no shortage of gas this time?

The U.S. Just Burned the Most Natural Gas Ever
Quote
The U.S. burned the most natural gas ever on Monday, breaking a record set during the so-called polar vortex that blanketed the nation’s eastern half with arctic air in 2014. America consumed 143 billion cubic feet of gas as temperatures dipped to all-time lows on New Year’s Day, topping the previous high of 142 billion from four years ago, data from PointLogic Energy show. Prices for the heating fuel rose to the highest in a month.
https://www.bloomberg.com/amp/news/articles/2018-01-02/america-is-burning-more-gas-than-ever-as-chill-grips-east-chart
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Alexander555

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Re: Oil and Gas Issues
« Reply #2029 on: January 02, 2018, 10:11:44 PM »
To round out a year of rollbacks, the Trump administration just repealed key regulations on fracking
Quote
On the last business day of the year, the Interior Department rescinded a 2015 Obama administration rule that would have set new environmental limitations on hydraulic fracturing, or fracking, on public lands.

The regulation from the Bureau of Land Management, which had been opposed by the oil and gas industry and tied up in court, would have tightened standards for well construction and wastewater management, required the disclosure of the chemicals contained in fracking fluids, and probably driven up the cost for many fracking activities.

It had been held up in litigation and had not taken effect; a Wyoming district court said it exceeded the agency’s authority. Reversing the regulation, the Interior Department says, clears up that legal question and also lifts a costly regulation for the industry, in line with President Trump’s agenda to slash regulations and advance the United States’ “energy dominance.” ...
https://www.washingtonpost.com/amphtml/news/energy-environment/wp/2017/12/29/to-round-out-a-year-of-rollbacks-the-trump-administration-just-repealed-key-regulations-on-fracking/

Something about that article is'nt right. Because these fracing guys hold hundreds and hundreds of billions of debt. A couple dozens of millions a year is close to nothing for this industry.

Sigmetnow

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Re: Oil and Gas Issues
« Reply #2030 on: January 03, 2018, 08:29:03 PM »
To round out a year of rollbacks, the Trump administration just repealed key regulations on fracking
Quote
On the last business day of the year, the Interior Department rescinded a 2015 Obama administration rule that would have set new environmental limitations on hydraulic fracturing, or fracking, on public lands.

The regulation from the Bureau of Land Management, which had been opposed by the oil and gas industry and tied up in court, would have tightened standards for well construction and wastewater management, required the disclosure of the chemicals contained in fracking fluids, and probably driven up the cost for many fracking activities.

It had been held up in litigation and had not taken effect; a Wyoming district court said it exceeded the agency’s authority. Reversing the regulation, the Interior Department says, clears up that legal question and also lifts a costly regulation for the industry, in line with President Trump’s agenda to slash regulations and advance the United States’ “energy dominance.” ...
https://www.washingtonpost.com/amphtml/news/energy-environment/wp/2017/12/29/to-round-out-a-year-of-rollbacks-the-trump-administration-just-repealed-key-regulations-on-fracking/

Something about that article is'nt right. Because these fracing guys hold hundreds and hundreds of billions of debt. A couple dozens of millions a year is close to nothing for this industry.

The article is fine.  The illogic you are seeing is the oil and gas industry (and the GOP politicians who depend on their donations) blindly insisting the industry must have less regulation, regardless of cost, and even if the reg is specifically aimed toward health and safety.  Gotta make as much money as they can, by doing as much damage as they can, in the short time they have left.  Also, it was an Obama administration regulation, so of course it must be undone. ::)
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2031 on: January 04, 2018, 05:58:13 PM »
Good to see some regulators are still at work!

Quote
Pennsylvania regulators ordered construction crews to stop work Wednesday on a controversial major pipeline after recording numerous environmental violations in the building process, including spills and well contamination.

The Pennsylvania Department of Environmental Protection (DEP) accused Sunoco Pipeline of “egregious and willful violations” of environmental rules in building the Mariner East 2 pipeline.

Pennsylvania halts construction of controversial pipeline
http://thehill.com/policy/energy-environment/367217-pennsylvania-halts-construction-of-controversial-pipeline
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2032 on: January 05, 2018, 01:11:56 AM »
“Rather than listen to the people they are supposed to work for, Trump and Zinke are listening to the industry that’s bankrolled their campaigns and filled their administration.”

Trump plan for oil drilling off coast ripped by Florida leaders — in both parties
Quote
Florida waters long closed to offshore drilling would open up under a Trump administration plan to dramatically expand domestic oil and gas production.

The plan drew swift criticism from political leaders of both parties in Florida. Republican Gov. Rick Scott, who previously opposed protections put in place by the Obama administration, objected. Democratic Sen. Bill Nelson and Republican Sen. Marco Rubio, who have fought to extend a drilling ban in the eastern Gulf, also criticized a draft proposal released Thursday by Interior Secretary Ryan Zinke.

“I have already asked to immediately meet with Secretary Zinke to discuss the concerns I have with this plan and the crucial need to remove Florida from consideration,” Scott said in a statement.

According to the proposal, open to public comment for the next 60 days, the nation would more than quadruple the number of drilling leases available in U.S. waters. The plan covers parts of the eastern Gulf of Mexico off the Florida coast not available since 1988, as well as the Atlantic coast and Florida Straits. In total, the plan would open the nation’s offshore oil and gas reserves in all but one area off Alaska over the next five years. ...
http://amp.miamiherald.com/news/local/environment/article193051089.html
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2033 on: January 06, 2018, 02:32:29 PM »
Up til Dec. 31, 2017, U.S. oil companies were taxed 9 cents per barrel to fund spill cleanups.
On Jan. 1, 2018, GOP let the tax drop to 0.

Why would the administration curtail response funds and alter safety rules at a time when it is pushing to expand oil and gas exploration on land and offshore?  “It’s indicative of a mind-set that safety’s a secondary concern.”

Without fanfare, oil companies just received a tax break on New Year's Day
https://www.washingtonpost.com/amphtml/news/energy-environment/wp/2018/01/05/republicans-allowed-a-tax-on-oil-companies-to-expire-and-almost-nobody-noticed/
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2034 on: January 06, 2018, 03:07:53 PM »
For Exxon, a Year of Living Dangerously
The oil giant faced setbacks as it fought to stop state climate fraud investigations, but both sides have dialed back the rhetoric. Is something about to change?
https://insideclimatenews.org/news/22122017/exxon-investor-fraud-2017-year-review-climate-change-investigation-tillerson-new-york-attorney-general
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etienne

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Re: Oil and Gas Issues
« Reply #2035 on: January 06, 2018, 04:48:37 PM »
Up til Dec. 31, 2017, U.S. oil companies were taxed 9 cents per barrel to fund spill cleanups.
On Jan. 1, 2018, GOP let the tax drop to 0.

Why would the administration curtail response funds and alter safety rules at a time when it is pushing to expand oil and gas exploration on land and offshore?  “It’s indicative of a mind-set that safety’s a secondary concern.”

Well, this is a common way to act and it is why there are laws to protect people and nature. There was in south Belgium a guy going aroung in a van, selling tools with lifetime guarantee. Just that each year, he created a new company and closed the old one, so people who had a problem with the tools had to complain at the producer or the importer, not at his mobile shop.

Bob Wallace

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Re: Oil and Gas Issues
« Reply #2036 on: January 06, 2018, 05:58:05 PM »
Up til Dec. 31, 2017, U.S. oil companies were taxed 9 cents per barrel to fund spill cleanups.
On Jan. 1, 2018, GOP let the tax drop to 0.

Why would the administration curtail response funds and alter safety rules at a time when it is pushing to expand oil and gas exploration on land and offshore?  “It’s indicative of a mind-set that safety’s a secondary concern.”

Without fanfare, oil companies just received a tax break on New Year's Day
https://www.washingtonpost.com/amphtml/news/energy-environment/wp/2018/01/05/republicans-allowed-a-tax-on-oil-companies-to-expire-and-almost-nobody-noticed/

We have a hell of a mess to clean up once we get these idiots out of office. 

I expect there are multiple groups who are keeping a list of these missteps and what it will take to reverse them so that the job can be done quickly. 

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gerontocrat

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Re: Oil and Gas Issues
« Reply #2038 on: January 08, 2018, 02:32:25 PM »

Here is an overview from Bloomberg on global energy trends 2018 - below a quote re US plans for oil and gas expansion.

https://www.bloomberg.com/view/articles/2018-01-08/5-things-to-watch-on-global-energy-front-in-2018

Quote
U.S. energy companies keep raising money: U.S. oil and gas exploration and production companies, pipeline operators and liquefied natural gas firms have a knack for raising new money in the capital markets. For most of the past decade, that money has split fairly evenly between equity and high-yield bonds, with a few exceptions. But in 2016, energy companies raised money in equity almost entirely and then, in 2017, turned to debt. Last year, in a record 12 months for new capital, they raised 80 percent of their money -- more than $50 billion -- through debt.

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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2039 on: January 08, 2018, 04:48:38 PM »
 So, one good hiccup, and the whole house of cards falls....
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Tor Bejnar

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Re: Oil and Gas Issues
« Reply #2040 on: January 08, 2018, 05:00:41 PM »
Meanwhile, crude oil is going up in price, now over $60 for West Texas Intermediate:
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2041 on: January 09, 2018, 05:55:33 PM »
This Is What Caused Nordic American Tankers Limited's Jaw-Dropping 70.5% [stock price] Plunge in 2017
Quote
What happened
Last year was a tumultuous one for Nordic American Tankers Limited (NYSE:NAT), with the oil tanker company shedding nearly three-quarters of its value. Several factors contributed to the devastating slide, including plunging dayrates for tankers, which forced the company to take drastic action to shore up its financial situation. ...
https://www.fool.com/investing/2018/01/08/this-is-what-caused-nordic-american-tankers-limite.aspx
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2042 on: January 09, 2018, 06:04:47 PM »
The area in the China Seas where the Sanchi is burning has been called ‘the new Bermuda Triangle’ due to all the ship losses there.

Oil tanker Sanchi spilling slick after ship crash in 'new Bermuda triangle'
Thousands of tons of oil are at risk of leaking from the burning Iranian vessel following its collision with a Chinese freighter.
Quote
Last year, German newspaper Die Welt carried out research which found the South and East China Seas and the seas around Indochina, Indonesia, the Malay Peninsula, the Korean Peninsula and Japan were the most dangerous in the world.

Some 33 ships were lost in 2016, according to the paper.

The risks presented by the region's seas led Die Welt to headline the article "The new Bermuda Triangle lies in front of China".

The Bermuda Triangle was a mythical area of the Atlantic Ocean between the Caribbean and Bermuda where dozens of ships and planes inexplicably sank or went missing in the 19th and 20th centuries.
https://news.sky.com/story/oil-tanker-sanchi-spilling-slick-after-ship-crash-in-new-bermuda-triangle-11199123
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2043 on: January 10, 2018, 08:22:57 PM »
New York City to Announce Climate Lawsuit Against Oil Companies
Quote
New York City is suing five major oil companies, becoming  the latest in a growing number of municipalities attempting to hold the industry accountable for damages caused by climate change.

New York Mayor Bill de Blasio is scheduled to make the announcement at a press conference Wednesday afternoon, where he is also expected to announce that the city will divest its pension funds of $5 billion in fossil fuel investments.

Damages sought in the suit will be used to cover infrastructure improvements needed to protect New Yorkers from the increasing effects of climate change, according to the Associated Press, which first reported the city’s plan. ...
https://www.climateliabilitynews.org/2018/01/10/new-york-city-climate-lawsuit-liability-bill-de-blasio/
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2044 on: January 10, 2018, 08:30:43 PM »
If this is not simply a political stunt to help Florida’s governor, why not address complaints from all the other coastal states with “unique tourism“ concerns which do not want drilling off their shores?

Ryan Zinke Removes Florida Waters From Offshore Drilling Plan
The Interior secretary’s move was immediately slammed as a political favor for Florida Gov. Rick Scott.
Quote
Interior Secretary Ryan Zinke announced late Tuesday that at the recommendation of Florida Gov. Rick Scott (R) — whom he called a “straightforward leader that can be trusted” — he will remove the state’s coastal waters from consideration for future offshore oil drilling.

The decision came just days after the Trump administration released a sweeping new proposal to open nearly all U.S. waters, including huge swaths of the Arctic, Atlantic and Pacific oceans, to oil exploration. ...
https://www.huffingtonpost.com/entry/ryan-zinke-florida-offshore-drilling_us_5a55577ae4b0b117f88064ce
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Buddy

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Re: Oil and Gas Issues
« Reply #2045 on: January 10, 2018, 08:44:50 PM »
Quote
If this is not simply a political stunt to help Florida’s governor, why not address complaints from all the other coastal states with “unique tourism“ concerns which do not want drilling off their shores?

Donnie will need every Republican Senator he can over the next 8 - 18 months.  And beady eyed Medicare crook Rick Scott is running for Senator this year in Florida.  Donnie will do ANYTHING HE CAN TO HELP republican senators and POTENTIAL republican senators.

Just as a reminder to those that don't know....Rick Scott was the CEO of Columbian Healthcare when they were found guilty of committing THE LARGEST MEDICARE FRAUD IN US HISTORY at the time.....$1.7 billion dollar fine.
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2046 on: January 11, 2018, 09:39:01 PM »
Florida isn't alone.
The governors of New York, New Jersey, Delaware, Maryland, Virginia, North Carolina, South Carolina, California, Oregon and Washington have all voiced opposition to offshore oil drilling as well.

Dropping Florida from Offshore Drilling Opens Legal Cracks in Zinke's Plan
The Trump administration wanted to open 90 percent of the U.S. coasts to oil and gas drilling. With states opposed and potential legal challenges, can it succeed?
https://insideclimatenews.org/news/10012018/trump-offshore-oil-drilling-leases-florida-legal-questions-zinke-california-new-york-oregon
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2047 on: January 12, 2018, 09:04:54 PM »
But of course!

Oil Giants See a Future in Offshore Wind Power. Their Suppliers Are Investing, Too.
Quote
Transporting an offshore wind array from the factory floor to the ocean floor is no easy feat. Giant, specialized marine vessels must carry the blades and turbines—which sit atop rigs hundreds of feet tall—out miles from shore. Steel or concrete foundations are built to hold them in place, and underwater cables are laid on the seabed to transfer the power to land.

One other industry has spent decades constructing and maintaining such massive energy infrastructure that can survive the storms of the open ocean: oil and gas. Now, with global demand for wind power growing, major oil and gas companies like Shell and Statoil are diversifying their portfolios by developing offshore wind, and the companies that provide services to offshore fossil fuel platforms are seeing a new market rising in their wake.

"Offshore wind developing seemed like a natural skill set for offshore oil and gas companies," said Stephen Bull, senior vice president of wind and carbon capture storage for Statoil, a Norwegian oil and gas company. "From the Gulf of Mexico to Brazil and beyond, we see a similar supply chain and skill set and can grow within this area." ...
https://insideclimatenews.org/news/11012018/offshore-wind-turbines-oil-gas-industry-renewable-energy-investment-shell-statoil-block-island

(Cross-posted to the Renewable Energy thread.)
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Alexander555

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Re: Oil and Gas Issues
« Reply #2048 on: January 13, 2018, 01:55:03 AM »
But of course!

Oil Giants See a Future in Offshore Wind Power. Their Suppliers Are Investing, Too.
Quote
Transporting an offshore wind array from the factory floor to the ocean floor is no easy feat. Giant, specialized marine vessels must carry the blades and turbines—which sit atop rigs hundreds of feet tall—out miles from shore. Steel or concrete foundations are built to hold them in place, and underwater cables are laid on the seabed to transfer the power to land.

One other industry has spent decades constructing and maintaining such massive energy infrastructure that can survive the storms of the open ocean: oil and gas. Now, with global demand for wind power growing, major oil and gas companies like Shell and Statoil are diversifying their portfolios by developing offshore wind, and the companies that provide services to offshore fossil fuel platforms are seeing a new market rising in their wake.

"Offshore wind developing seemed like a natural skill set for offshore oil and gas companies," said Stephen Bull, senior vice president of wind and carbon capture storage for Statoil, a Norwegian oil and gas company. "From the Gulf of Mexico to Brazil and beyond, we see a similar supply chain and skill set and can grow within this area." ...
https://insideclimatenews.org/news/11012018/offshore-wind-turbines-oil-gas-industry-renewable-energy-investment-shell-statoil-block-island

(Cross-posted to the Renewable Energy thread.)


Do they have other options ? The OPEC + Russia hold almost 90 % from all conventional oil reserves. All these big oil companies like they call them, they don't have much reserves left. In most cases not even for 10 years, and the replacement rate is very low for the moment. So you can almost be sure that the oil selling landscape will be completely different in 10 years from now. A tide kartel, with Saudi-Arabia, Venezuela, Irak, Iran.....on top of it. Most small players will be gone.

Bob Wallace

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Re: Oil and Gas Issues
« Reply #2049 on: January 13, 2018, 03:52:05 AM »
Alexander -

Give this video a look.



Worry not about oil supply.