Insight and inspiration in turbulent times.
A succession of ministers of mining and hydrocarbons in Bolivia have attempted to lead the process of reforming the laws governing the industry, since the country’s president was forced to step down late last year by protests over natural gas policy.
The U.S. energy secretary, Spencer Abraham, praised on Friday Russia’s plans to increase oil exports to America and highlighted natural gas as the next long-term U.S.- Russia joint energy project.
Natural gas volumes needed to help the oil industry unlock Canada’s vast oil sands are expected to nearly triple in the next decade, just as production is waning and prices are surging, the country’s energy regulator said Thursday.
Secret policy changes made oil and gas development the dominant use of federal lands.[US]
Federal agency works to finish LNG safety report; consultant says difficult to predict fire potential from spills
For the past several years, we have been publishing U.S. natural gas production surveys of publicly traded companies. The bottom-line story has remained essentially the same throughout this entire time: U.S. natural gas production is heading firmly downwards, despite a massive increase in drilling activity.
Colorado is full of sand, but it’s useless for luring natural gas out of the earth through an increasingly important drilling method called hydraulic fracturing.
Three analyst groups have concluded that quarterly U.S. natural gas production dropped between 4.9-5.3% compared with a year ago, led by a sharp decline among the majors.
Gas prices, and the demand for permits, have been increasing steadily for about the past five years.
“LNG will not be coming into this country on the timeline that people have been hoping for. When the gas does arrive here, it will not be at a dollar or two an MCF but at $5 or $6.”
Financial columnist Andrew Weissman predicts high energy prices for the US.
British Petroleum states that Russian oil reserves equal to 60 billion barrels.
Such relatively modest amount leads us to believe that a new Russian law consummated in February 2004 was no coincidence. According to the new law, any information concerning oil reserves in the country is in fact State secret.
