Gasoline prices were up $0.17/gallon last week. Not surprisingly the DJIA was down -2.1% and the S&P500 was off -1.7%. Events in North Africa reminded Americans their economy and equity markets are directly tied to the price of oil. Since the United States imports 60% of its petroleum at a cost of over $1 billion [...]
If the price of oil, currently at $99 per barrel, rises much hight due to continuing political and social change in the Middle East, this will be the U.S’s third oil shock since 1970. What can U.S Policy makers do to avoid the economic and social impacts of another unstable oil market. More drilling wont [...]
What does industry think of U.S. EPA’s plans to take a life-cycle approach to studying the impacts of hydraulic fracturing? Click here to watch, OnPoint, Kathryn Klaber, president and executive director of the Marcellus Shale Coalition, discusses the latest on safety and regulation of hydraulic fracturing. She also explains how natural gas prices and the [...]
Schlumberger Ltd. (SLB) Chief Operating Officer Paal Kibsgaard said Wednesday that refinements must be made in shale drilling before the underground oil-and-gas-filled rocks can be exploited beyond North America. “We are convinced that the brute force approach established in North America will not be practical overseas, either from a financial or an operational standpoint,” Kibsgaard, [...]
American Honda’s natural gas-powered Civic GX has earned the title of America’s greenest vehicle for the eighth time according to the American Council for an Energy-Efficient Economy (ACEEE). Five Honda vehicles earned recognition from the annual Green Book Online ranking of environmentally responsible vehicles. This is the 11th year in a row that a Honda [...]
Global mining giant BHP Billiton has made its first move into shale gas, agreed to agreeing to buy shale gas interests from Chesapeake Energy Corp. In BHP’s first big acquisition since a string of failed deals, the global miner said it was buying Chesapeake’s holdings in Arkansas’ Fayetteville shale natural gas field for $4.75 billion. [...]
There is no such thing as bad publicity. But the PR adage seems to have been overlooked by America’s energy lobby, whose attacks on a documentary on natural gas drilling have dramatically raised the film’s pre-Oscar buzz. The attacks – including a demand to strike the film, Gasland, from Oscar contention – have brought a [...]
Chevron Corp. has completed its acquisition of natural gas producer Atlas Energy Inc., providing the oil company access to vast unconventional natural gas reserves in the Marcellus Shale in Pennsylvania and New York. “The assets…complement our global position in developing unconventional gas resources,” said Chevron Vice Chairman George Kirkland in prepared remarks. Some analysts believe [...]
Talisman Energy Inc. (TLM-T23.910.301.27%) says its fourth-quarter loss widened to $304-million as it booked higher costs. The company said Wednesday that while commodity prices were higher, and dry hole expenses were lower, those advantages were more than offset by stock-based compensation and taxes, which were both more than the comparable period. A year ago, the company [...]
Nexen Inc. hired Bank of America Corp.’s investment banking unit to help it find partners to develop shale-gas reserves in British Columbia, Chief Executive Officer Marvin Romanow said. The Horn River region of northern British Columbia has as much natural gas as all of Alberta, Canada’s biggest energy- producing region, Romanow said during a call [...]
