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Tag Archives: oil and gas industry
The Shale Boom Has Turned To Bust: Producers Slashing Budgets, Staff, & Production Goals
The Shale Boom Has Turned To Bust: Producers Slashing Budgets, Staff, & Production Goals The collapse in the shale industry is continuing with no signs of stopping or even slowing down. No sooner did we highlight how shale is doomed no matter what the industry does and how recent price movements have triggered chaos across the industry, than we find […]
“A Murderer’s Row”: Oil And Gas Bankruptcies To Accelerate As $137 Billion Debt Matures Over Next Two Years
“A Murderer’s Row”: Oil And Gas Bankruptcies To Accelerate As $137 Billion Debt Matures Over Next Two Years Oil and gas companies are facing an onslaught of bankruptcies as the “shale revolution” appears to be coming to an unceremonious end, at least on Wall Street, according to the Wall Street Journal. Companies like Sanchez Energy Corp., Halcon Resources […]
Explosions in Three States Highlight Dangers of Aging Fossil Fuel Infrastructure
Explosions in Three States Highlight Dangers of Aging Fossil Fuel Infrastructure On August 1, for the third time in as many years, Enbridge’s Texas Eastern Transmission gas pipeline exploded. This tragic incident in central Kentucky killed a 58-year-old woman, Lisa Denise Derringer, and injured at least five others. Flames towered 300 feet high when the 30-inch diameter pipe […]
Accelerate New Oil Wells, Abandon the Old Ones, All the While Burning
Accelerate New Oil Wells, Abandon the Old Ones, All the While Burning Alberta in a nutshell, under new leader Jason Kenney’s trajectory. The urgency to expedite new petroleum projects stands in stark contrast to the utter disinterest in cleaning up the old ones. Alberta is perhaps unique in the world in having no mandatory timelines […]
On Climate, Does Trudeau’s Canada Play Hero or Villain?
On Climate, Does Trudeau’s Canada Play Hero or Villain? The Tyee asked global experts, and got some surprising answers. How does Canada rate in fighting climate change? Better than most countries, especially ones where fossil fuels drive politics. Terribly for the world, because if every country copied Canada, that would ensure climate catastrophe. That’s the […]
Canadian Oil Driller Abruptly Shuts Down, Abandons 4,700 Wells
Canadian Oil Driller Abruptly Shuts Down, Abandons 4,700 Wells A junior Canadian gas E&P company has shut down abruptly, leaving as many as 4,700 wells behind, CBC reports, quoting the Alberta Energy Regulator, which said it had sent Trident Exploration Corp. an order to manage its wells, to which the company did not respond. Trident closed […]
In Some Pennsylvania Pro-Fracking Corners, Name-calling, False Claims, and Swastika-Laden Images Circulate
In Some Pennsylvania Pro-Fracking Corners, Name-calling, False Claims, and Swastika-Laden Images Circulate Cabot Oil and Gas is a shale drilling company that, according to state regulators, botched its shale gas extraction operations in an area around Carter Road in Dimock, Pennsylvania, about a decade ago. Cabot has for years fought liability for locals’ contaminated water supplies and has […]
Report: Big Oil Is Spending ‘’Too Much’’ On New Oil Production
Report: Big Oil Is Spending ‘’Too Much’’ On New Oil Production Big Oil plans to spend nearly US$5 trillion in capital expenditure over the next decade, much of which would go into adding new production. Yet this money will also bring the world farther from the Paris Agreement climate targets, a report from energy industry-focused […]
Global Climate Coalition: Documents Reveal How Secretive Fossil Fuel Lobby Group Manipulated UN Climate Programs
Global Climate Coalition: Documents Reveal How Secretive Fossil Fuel Lobby Group Manipulated UN Climate Programs A fossil fuel–backed industry group was able to influence the process behind the United Nations climate assessments for decades, using lobbyists and industry-funded scientists to manipulate international negotiations, a cache of recently discovered documents reveals. The documents include hundreds of briefings, […]
‘Virtually No Risk of Drilling Restrictions,’ West Virginia Official Tells Fracking-Reliant Petrochemical Industry
‘Virtually No Risk of Drilling Restrictions,’ West Virginia Official Tells Fracking-Reliant Petrochemical Industry This week, at an industry conference focused on wooing petrochemical producers to West Virginia, officials from the state and federal government made clear their support for continuing fracked shale gas extraction and petrochemical industry development near the natural gas-rich Marcellus Shale. Why should […]
A Fracking Disaster: BC Failing to Make Polluters Pay
A Fracking Disaster: BC Failing to Make Polluters Pay Auditor general says oil and gas commission hasn’t ensured companies will pay cleanup costs. The polluter-pay approach isn’t working in British Columbia’s oil and gas patch. The province’s energy regulator hasn’t secured enough money from companies to cover the estimated $3-billion cleanup costs for 10,672 inactive […]
Kashmir Conflict Has Riyadh On Edge
Kashmir Conflict Has Riyadh On Edge Just days after Saudi Arabia’s Crown Prince Mohammed bin Salman finished his charm-offensive Asian trip to Pakistan, India, and China, the ever-simmering tensions between Pakistan and India flared up again over Kashmir—the territory the two countries have been disputing since 1947 when Britain partitioned its colonies and India and […]
Something about the Oil companies’ EROI
Something about the Oil companies’ EROI Researchers involved in the energy sector know very well what the EROI (acronym of Energy Return on Investment) is and how frequently is cited in scientific publications, in spite of differences of definition among researchers. Well aware of the fact that we arrived last in the middle of a […]
EXXONMOBIL U.S. OIL & GAS FINANCIAL TRAIN-WRECK: Producing Shale Is Destroying Its Bottom Line
EXXONMOBIL U.S. OIL & GAS FINANCIAL TRAIN-WRECK: Producing Shale Is Destroying Its Bottom Line The United States largest oil company, ExxonMobil, is facing a financial train-wreck in its domestic oil and gas sector. And, the majority of the blame can be attributed to Exxon’s move into shale. After Exxon acquired XTO Energy in 2009, a […]
Alberta’s Mega Oil and Gas Liability Crisis, Explained
Alberta’s Mega Oil and Gas Liability Crisis, Explained A Supreme Court ruling now forces firms to clean up abandoned wells before paying creditors. That doesn’t solve much. Just how will an increasingly indebted industry, hobbled by low energy prices and rising costs, find the up to $260 billion needed to clean up its inactive pipelines, wells, plants […]
