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Tag Archives: oil and gas industry
After Warmest Winter, Drought-Stricken California Limits Water But Exempts Thirstiest Big Growers
After Warmest Winter, Drought-Stricken California Limits Water But Exempts Thirstiest Big Growers As California’s record drought continues, Gov. Jerry Brown has ordered residents and non-agricultural businesses to cut water use by 25 percent in the first mandatory statewide reduction in the state’s history. One group not facing restrictions under the new rules is big agriculture, […]
Californians Outraged As Oil Producers & Frackers Excluded From Emergency Water Restrictions
Californians Outraged As Oil Producers & Frackers Excluded From Emergency Water Restrictions California’s oil and gas industry is estimated (with official data due to be released in coming days) to use more than 2 million gallons of fresh water per day; so it is hardly surprising that, as Reuters reports, Californians are outraged after discovering that these firms […]
Canada’s Energy Policy Should Not Be an Oil and Gas Policy
Canada’s Energy Policy Should Not Be an Oil and Gas Policy I was out for dinner with a friend the other night and, naturally, the conversation turned to food, energy policy and how they are linked. As our server was well aware, and as almost any restaurant employee could tell you, language is important. Culinary […]
Economists Fear Oil-Price ‘Contagion’ Has Hit Canada’s Economy
Economists Fear Oil-Price ‘Contagion’ Has Hit Canada’s Economy ‘Unbelievable’ decline in oil drilling could impact banks, construction Cost-cutting budgets in Alberta, Quebec will reduce economic growth Analysts completely divided on where oil prices are headed now Following some nasty recent surprises in Canada’s economic data, analysts are starting to sound more pessimistic about the country’s […]
The Shale Debt Redux
The Shale Debt Redux Shale debt, falling prices and slack demand has tight oil producers in trouble. And yet, there is still burgeoning production. Why? Well, we’ve seen this before. It’s the shale debt redux. Operators did it a few years ago in natural gas and prices have yet to recover. Unfortunately cheap money in […]
This Is The Man Exxon Chose To Lead Its Effort Against Climate Science
This Is The Man Exxon Chose To Lead Its Effort Against Climate Science This DeSmog UK epic history post portrays Lee Raymond, the Texan captain who steered the Exxon ship against the rising tide of climate science. In 1997, BP’s British boss, John Brown, stunned the world by endorsing the science of climate change and calling for government regulation to reduce […]
Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia
Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia With some analysts predicting the global price of oil to see another drop, many oil majors have deployed their parachutes and jumped from thehydraulic fracturing (“fracking”) projects rapidly nose-diving across the world. As The Wall Street Journal recently reported, the unconvetional shale oil and gas boom is […]
Wall Street Banks Hit by Oil & Gas Defaults, Bankruptcies
Wall Street Banks Hit by Oil & Gas Defaults, Bankruptcies The fracking boom has been cash-flow negative for oil and gas drillers from the very beginning. The steep decline rates of fracked wells force producers to drill more wells just to keep production and revenues flat, even at high oil prices. They fund this drilling […]
‘Frackademia’ Report Reveals Ties Between Government, Universities, and Shale Industry
‘Frackademia’ Report Reveals Ties Between Government, Universities, and Shale Industry While the government has decided to provide tax breaks for the oil industry in the 2015 Government Budget, everyone else has been talking about divestment. Ben Lucas looks at the growing movement and new evidence published this week on the relationship between government, universities and […]
Saudi Exec Expects $1 Trillion Drop In Energy Investments
Saudi Exec Expects $1 Trillion Drop In Energy Investments A high-ranking Saudi Aramco executive says the plunge in energy prices already has caused many in the industry to cut spending on oil and gas projects, and the trend probably will continue for a few years, perhaps reaching a cut of $1 trillion in investments. “Challenges […]
“Default Monday”: Oil & Gas Companies Face Their Creditors
“Default Monday”: Oil & Gas Companies Face Their Creditors Debt funded the fracking boom. Now oil and gas prices have collapsed, and so has the ability to service that debt. The oil bust of the 1980s took down 700 banks, including 9 of the 10 largest in Texas. But this time, it’s different. This time, […]
New—and Worrisome—Contaminants Emerge From Oil and Gas Wells
New—and Worrisome—Contaminants Emerge From Oil and Gas Wells Researchers find alarming levels of ammonium and iodide in fracking wastewater released into Pennsylvania and West Virginia streams. Two hazardous chemicals never before known as oil and gas industry pollutants – ammonium and iodide – are being released into Pennsylvania and West Virginia waterways from the booming […]
Russia Cuts Off Ukraine Gas Supply To 6 European Countries
Russia Cuts Off Ukraine Gas Supply To 6 European Countries Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas. Due to these “transit risks for European consumers in the territory of Ukraine,”Gazprom cut gas […]
Subsidy Spotlight: Publicly Funding a Utah Disaster in the Making
Subsidy Spotlight: Publicly Funding a Utah Disaster in the Making A green stegosaurus graces the logo of Uintah County, Utah, a gateway to the famed Dinosaur National Monument, where breathtaking landscapes and fossils preserved in sandstone attract thousands of visitors every year. That logo has taken on new meaning over the past decade as prehistoric remains […]
Job losses, writedowns tipped for oil and gas industry
Job losses, writedowns tipped for oil and gas industry Widespread job cuts, writedowns and project delays are predicted for Australia’s oil and gas industry as it struggles to cope with falling oil prices. The price of oil has fallen by more than 50 per cent since August, to a low not seen since the global […]
