Industry

Forum: Just how safe is ‘fracking’ of natural gas?

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Yale Environment 360 asked industry officials, scientists, and conservationists to answer the following two-part question: “Can hydraulic fracturing of gas and oil reserves in shale formations be done on a large scale without significant negative impacts on water supplies, air quality, and local communities? As fracking continues to expand rapidly, do you believe more stringent federal and state regulations are needed and, if so, what should they be?” Among the wide range of views, one theme emerged: Shale gas fracking in the U.S., which to date has been less strictly regulated than other sectors of the oil and gas industry, is almost certainly headed for a period of tougher federal and state environmental controls.

Review of Bundeswehr Report on peak oil: Section 2.2. Tipping Point (Nov. 2010)

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Oil is often described as ‘the life-blood’ of modern society. It is as vital to our globalized economy as water is to the human body. A reduction in supply of only a few percentages could create difficulties throughout the entire system. Further reductions could lead to a complete failure of critical systems.

Saudi Arabia to produce 10mbd in July?

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When the Saudi oil minister speaks to the world’s business reporters, one cannot rely that his words will later match the kingdom’s official reports to international statistical agencies. Whether through sloppiness or otherwise, at least one of Mr al-Naimi’s statement and the Saudi report were in error to the tune of almost half a million barrels a day — more than five percent of production — at a time when oil markets are critically seeking signals of Saudi intentions and capabilities.

China’s Energy Future

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I was recently asked to participate in an energy roundtable at Focus on China’s Energy Future and the Shale Gas Question. It is no secret that I feel that China’s moves stand to continue sending shock waves through the energy markets over the upcoming years. In fact, energy news from China warranted inclusion in My Top 10 Energy Stories of both 2009 and 2010. In 2009, I stated my belief that “China will be the single-biggest driver of oil prices over at least the next 5-10 years.” In 2010, the news was reported by the International Energy Administration (IEA) that China had become the world’s top energy consumer. BP confirmed this in their just-released Statistical Review of World Energy 2011.