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US oil - Oct 17

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Congress applies pressure to BP over Gulf oil sheen

fuelfix

Lawmakers in Washington are applying more pressure to BP and its chief executive to give them answers about last month’s discovery of an oil slick in the Gulf of Mexico that has been traced to oil from the company’s blown-out Macondo well.

Rep. Ed Markey of Massachusetts and Rep. Henry Waxman of California, both of whom led investigations of the British oil giant following the 2010 Deepwater Horizon disaster off Louisiana, sent a letter to CEO Robert Dudley on Tuesday seeking a briefing by Oct. 30 on the company’s investigation...
(16 October 2012)

US Oil Rig Boom Levelling Off?

Stuart Staniford, Early Warning Blogspot

I just thought to check this following the Presidential debate last night. The above shows the weekly Baker Hughes count of oil rigs drilling in the United States. This number has been in a near-vertical climb ever since the beginning of the economic recovery in 2009. However, in the last few months there are signs of it leveling off - whether temporarily or permanently I don't know. It has certainly been an incredible boom...


(17 October 2012)

Texas landowners take a rare stand against Big Oil

Ramit Plushnick-Masti, AP

Oil has long lived in harmony with farmland and cattle across the Texas landscape, a symbiosis nurtured by generations and built on an unspoken honor code that allowed agriculture to thrive while oil was extracted.

Proud Texans have long welcomed the industry because of the cash it brings to sustain agriculture, but also see its presence as part of their patriotic duty to help wean the United States off "foreign" oil. So the answer to companies that wanted to build pipelines has usually been simple: Yes...
(17 October 2012)

Deepwater Permits in U.S. Gulf Exceed Pre-BP Spill Level

Kasia Klimasinska, Bloomberg

The Obama administration has issued this year the most deep-water oil-drilling permits for the Gulf of Mexico since 2007 as high crude prices revive exploration slowed by the 2010 BP Plc (BP/) spill.

The pace of issuing permits under President Barack Obama drew criticism from his Republican rival Mitt Romney last night and from energy lobbyists during the campaign who say the policies slowed oil and gas production on federal land. Obama had suspended drilling after BP’s Macondo well exploded 40 miles off Louisiana’s coast, killing 11 workers and sending an estimated 4.9 million barrels of oil into the Gulf...
(17 October 2012)

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