Protests against new oil and gas pipeline construction are becoming more or less part of everyday life in the U.S. and Canada. Keystone XL, Dakota Access, Enbridge’s Line 5, Energy East, you name it. There seem to be dozens of new pipelines in the works, and almost all are the target of protests by environmentalists, Native American tribes and First Nations.
After the demise of the Keystone XL project, the Dakota Access pipeline seems to have garnered the most attention, with mass protests from Native American tribes and their supporters earlier this month succeeding in getting the project shelved – a move by the White House that energy industry insiders warned could set a dangerous precedent for other infrastructure projects, affecting the economic development of the country. Continue reading
RIO DE JANEIRO — Brazil’s efforts to become one of the world’s major oil producers have attracted businesses such as U.S. drilling giants Halliburton and Baker Hughes, gained it partnerships with oil companies from India and China, lured immigrants from idyllic Norway and drawn investment dollars from American pension funds in Florida, South Carolina and California.
But the prospects for success have darkened in the seven years since Brazil first identified massive oil deposits in deep water off its coast. Many fear that Brazil’s chance to become one of the world’s major energy producers is fading as the global energy landscape changes dramatically. Continue reading
BRUSSELS – The European Union must create an energy union to secure its supply and reduce its dependence on Russian gas, Poland’s Prime Minister Donald Tusk has said.
Tusk’s energy blueprint, set out in an article in the Financial Times on Tuesday (22 April), would establish a single European body that would buy gas for the whole 28-nation bloc. This would end a system that currently sees the different countries negotiate their own deal with energy giant Gazprom, the government-backed firm which dominates Russia’s gas market.
Meanwhile, “solidarity mechanisms” between EU countries would kick into action if countries were threatened with being cut off from gas supplies. Continue reading
With discussion of income inequality reaching a fever pitch—from New York City Mayor Bill de Blasio’s “tale of two cities” message to the headline-grabbing sermons of Pope Francis—former Goldman Sachs asset management chairman Jim O’Neill believes the global economy could be at a tipping point.
“I wonder if we could be in the very early stages of a redistribution of wealth from capital back to mass income through government policies, whether it be from taxes or things being done to boost minimum wages,” O’Neill told CNBC’s “Squawk on the Street” on Wednesday. “But obviously this is something else just as human beings, nevermind investors, that we all have to watch closely.” Continue reading
Much digital ink has been spilled about the oil and gas boom in the US, the result of ever improving fracking technologies, and whether or not it will lead to energy independence, or even turn the US into an oil exporter.
Now a “confidential” report by the German version of the CIA, the Bundesnachrichtendienst (BND), seeped to the surface. It sketched out the boom’s geopolitical consequences. Biggest loser? China. Continue reading
Big changes are already underway in the global energy sector. And some of these changes are contrary to previous expectations. What we now realize, once again, is that capitalism works. Capitalism has always solved our most basic problems. Even now it is solving our energy problem.
Four years ago Russia was the rising powerhouse of global energy production. Marshall I. Goldman’s 2008 book on Russia was titled Petrostate: Putin, Power and the New Russia. As Goldman explained, “Russia … finds itself in a newly assertive, even dominant, international position. Its emergence as a new super energy power overlaps with the weakening of the United States as we have squandered our … resources in Iraq.” But Russia’s energy sector has always been a state-manipulated behemoth with serious problems of its own. Continue reading
Following up from another story hitting out at American energy independence, the chatter continues to increase by a small amount. However, and per usual, the only obstacle holding this back are the politics of overblown environmental concerns and the red tape from them, a form of economic warfare. See also this, and this. Until the restrictive tape is removed, it’s likely to remain a pipe dream at best.
Drillers in Utah and Colorado are poking into a massive shale deposit trying to find a way to unlock oil reserves that are so vast they would swamp OPEC.
A recent report by the U.S. Government Accountability Office estimated that if half of the oil bound up in the rock of the Green River Formation could be recovered it would be “equal to the entire world’s proven oil reserves.”
Both the GAO and private industry estimate the amount of oil recoverable to be 3 trillion barrels. Continue reading
Believing this one might be a difficult thing to uphold. The energy resources available aren’t disputed, but the actual motive to use them are. Most of the news the last four years reflects that the Obama administration has gone out of its way to close everything up it can (i.e. available shale oil land in Colorado via making national parks out of everything) and kill Canadian imported oil. Only time will tell what will come of this anomaly.
* U.S. to become biggest oil producer by 2017
* To overtake Russia as top gas producer by 2015
* Moving to become self-sufficient in energy (Adds details, para 8-9) Continue reading
The Obama administration, despite the nation’s economic woes, effectively killed the job-producing Keystone Pipeline last month. The Arab Spring is turning the oil production of Libya and other Arab nations over to the Muslim Brotherhood. Iraq is distancing itself from the U.S. And everyone recognizes that Iran, whose crude supplies are critical to the European economy, will do anything it can to frustrate America’s strategic interests. In the face of all of this, Obama insists on cutting back U.S. oil potential with outrageous restrictions.
Part of Obama’s apparent war against U.S. energy independence includes a foreign-aid program that directly threatens my state’s sovereign territory. Obama’s State Department is giving away seven strategic, resource-laden Alaskan islands to the Russians. Yes, to the Putin regime in the Kremlin.
Full article: Obama’s giveaway: Oil-rich islands to Russia (WND)