U.S. Fracking's Larger Implications

[American_Jihad]

If there is so much oil out there why is the price going up but consumption per capita going down?

It's obongos fault...

 

[Mr. H.]

With the phenomenal increase in onshore oil and gas production (thanks to hydraulic fracturing), the threat of hurricanes shutting down GOM production is less of a concern these days...

The Shale Boom Is Immunizing US Oil And Gas Production From Hurricanes - seattlepi.com

In 1997, 26% of the nation’s natural gas was produced in the federal Gulf of Mexico. In 2012, that number was 6%.

The Gulf of Mexico's share of crude oil production has also declined, from 26% in 2007-11 to 19% in 2012.

 

[Mr. H.]

Fuck yeah...

U.S. tops global oil, gas production growth: BP Review - Energy Ticker - MarketWatch

Oil and natural gas production rose faster in the United States last year than anywhere in the world. It was also the biggest gain in oil production in the nation’s history, according to an annual review by BP PLC released Wednesday.

Private enterprise, ingenuity, risk, and hard work.

Who needs that piss ant Obama?

 

[Mr. H.]

Far out...

U.S. industrial sector goes for more natural gas - Energy Ticker - MarketWatch

The use of natural gas by the industrial sector rose more than 3% in the first five months of the year compared with the same period last year, thanks to historically low natural-gas prices on the heels of heightened shale production.

Power utilities still take on more natural gas to fuel their plants than industries, but that has been changing after a sharp decline in 2008 and 2009 during the economic downturn, the Energy Information Administration said.

Industrial customers pay close to spot price since they buy large quantities of the fuel regularly.

 

[KissMy]

If there is so much oil out there why is the price going up but consumption per capita going down?

It's obongos fault...

It's been going on for 43 years!

You will pay more & get less unless you start getting energy from some other source. Every year you pay more & get less energy. Oil has failed to deliver more energy per citizen & has been in decline since 1970 & is declining faster since 2005.

 

[KissMy]

Far out...

U.S. industrial sector goes for more natural gas - Energy Ticker - MarketWatch

The use of natural gas by the industrial sector rose more than 3% in the first five months of the year compared with the same period last year, thanks to historically low natural-gas prices on the heels of heightened shale production.

Power utilities still take on more natural gas to fuel their plants than industries, but that has been changing after a sharp decline in 2008 and 2009 during the economic downturn, the Energy Information Administration said.

Industrial customers pay close to spot price since they buy large quantities of the fuel regularly.

Obama loves the Natural Gas & hates the Coal.

Obama will use executive orders to tackle global warming - "Obama’s senior energy and climate adviser, Heather Zichal, said the Environmental Protection Agency was preparing to use its authority under the Clean Air Act to regulate heat-trapping pollution from coal-fired power plants.

“The EPA has been working very hard on rules that focus specifically on greenhouse gases from the coal sector.""

 

[Mr. H.]

Far out...

U.S. industrial sector goes for more natural gas - Energy Ticker - MarketWatch

The use of natural gas by the industrial sector rose more than 3% in the first five months of the year compared with the same period last year, thanks to historically low natural-gas prices on the heels of heightened shale production.

Power utilities still take on more natural gas to fuel their plants than industries, but that has been changing after a sharp decline in 2008 and 2009 during the economic downturn, the Energy Information Administration said.

Industrial customers pay close to spot price since they buy large quantities of the fuel regularly.

Obama loves the Natural Gas & hates the Coal.

Obama will use executive orders to tackle global warming - "Obama’s senior energy and climate adviser, Heather Zichal, said the Environmental Protection Agency was preparing to use its authority under the Clean Air Act to regulate heat-trapping pollution from coal-fired power plants.

“The EPA has been working very hard on rules that focus specifically on greenhouse gases from the coal sector.""

Yup. Coal can be nasty, and coal can be "clean". The government should put more effort into promoting cleaner coal-combustion processes. It's doable.

 

[Mr. H.]

OPEC to lose market share in 2014 as rivals pump more | Reuters

(Reuters) - OPEC's share of the world market will shrink in 2014 as rising supply of U.S. shale oil gives the exporter group little comfort from the fastest growth in world demand in four years.

 

[Smilebong]

Re: Gasland...

"...according to the Colorado Oil and Gas Conservation Commission, which tested Markham's water in 2008, there were "no indications of oil & gas related impacts to water well." Instead the investigation found that the methane was "biogenic" in nature, meaning it was naturally occurring and that his water well was drilled into a natural gas pocket."

http://cogcc.state.co.us/library/GASLAND DOC.pdf

Earthquakes? Likely...

UK firm says shale fracking caused earthquakes | Reuters

However, there are over 1 million naturally occuring earthquakes each year.

Bazinga!!!

 

[Mr. H.]

It's spreading... and it all started right here, folks.

Hell, the entire modern oil and gas industry was begun in the United States and exported throughout the world.

We are the shit.

RIGZONE - UK Energy Secretary: Shale Gas Has 'Huge Potential'

The UK Secretary of State for Energy and Climate Change Ed Davey said that UK shale gas has "huge potential" at a gathering Wednesday afternoon of the All Party Parliamentary Group on Unconventional Oil and Gas in Westminster, London.

 

[Mr. H.]

Bravo! Hydraulic Fracturing... it's not just for breakfast anymore:

http://www.rigzone.com/news/article...013-07-16&utm_content=&utm_campaign=feature_3

North Dakota Oil, Gas Production Reach New Highs

 

[chikenwing]

Good for them

 

[Mr. H.]

FEAR THIS!

Should Saudi Arabia Fear North Dakota? One Man Says Yes

Prince Alwaleed bin Talal, founder of Kingdom Holding and a multi-billionaire investor in News Corp, Time Warner and Citigroup, among other companies, has told Saudi Oil Minister Ali Al-Naimi that the desert kingdom is making a mistake not to worry about burgeoning U.S. oil and gas production.

 

[Mr. H.]

This is what it's all about, Alfie...

Shale Explorers Outperforming International Oil Titans - Bloomberg

Oil explorers focused on high-margin shale drilling from Texas to North Dakota are set to outperform Big Oil this year.

EOG Resources Inc. (EOG), Pioneer Natural Resources Co. (PXD) and Continental Resources Inc. are poised to reap bigger returns for investors than energy titans 15 times their market values as they devote almost all their drilling capital to higher-margin, domestic crude wells, said Gianna Bern, founder of Brookshire Advisory and Research Inc. in Chicago. Houston-based EOG is estimated to more than triple profit in 2013 to $1.92 billion.


...and they said it couldn't be done.

 

[Mr. H.]

"The shale industry has been a blessing to steel," said Hamman, citing reports of mills that reopened in Youngstown, Ohio, to support the Marcellus and Utica shale drilling boom. "The drilling companies have to get their steel from somewhere."

Monroe County Steel Mill Planned - News, Sports, Jobs - The Intelligencer / Wheeling News-Register

Monroe County Steel Mill Planned

 

[Mr. H.]

Panda Power Funds acquires Pennsylvania natgas-fired project | Reuters


Aug 22 (Reuters) - Panda Power Funds will begin construction immediately on an 829-MW natural gas-fired power plant in Pennsylvania after acquiring the project from Moxie Energy and completing financing, Panda said on Thursday.

The Panda Liberty generating station will be built on a 33-acre site in Bradford County, Pennsylvania. Commercial operations are expected to begin by early 2016.

 

[Mr. H.]

RIGZONE - Rising Oil, Gas Production Lowers US Energy Security Risk

The United States experienced a reduction in 2012 in its energy security risk thanks to rising U.S. oil and natural gas production and continued environmental improvements, according to a new report.

The United States’ energy security risk score stood at 95.3 in 2012, down from 102.0 in the previous year, the highest since 1970, the U.S. Chamber of Commerce’s institute for 21st Century Energy reported in its 2013 Index of U.S. Energy Security Risk.

 

[Mr. H.]

Energy boom a windfall for U.S. family income: IHS | Reuters

Robust energy production will increase wages, cut energy and manufacturing costs, and add as much as $2,000 a year to each family's income by 2015, IHS said.

Last year, an average U.S. household earned $1,200 more because of the energy boom as oil and gas companies produced nearly 2 million barrels-per-day of oil, the report said.

The rush has added 2.1 million jobs to the U.S. economy in 2012, both directly and indirectly, and that number is expected to balloon to 3.3 million by 2020, a boon for an economy struggling with stubbornly high unemployment.

"This is a great story for jobs, for the tax base and now for the average household," said John Larson, a vice president of the firm that co-authored the report.

 

[chikenwing]

Panda Power Funds acquires Pennsylvania natgas-fired project | Reuters


Aug 22 (Reuters) - Panda Power Funds will begin construction immediately on an 829-MW natural gas-fired power plant in Pennsylvania after acquiring the project from Moxie Energy and completing financing, Panda said on Thursday.

The Panda Liberty generating station will be built on a 33-acre site in Bradford County, Pennsylvania. Commercial operations are expected to begin by early 2016.

The greens should applaud this ,yet they don't. there have been several old coal plants shuttered in the area in the last few years,the additional capacity,and use of a LOCAL CLEANER resource is outstanding.

This hasn't made the local news,and not surprising, Broome county NY just north of Bradford PA suffers from a not so objective media,,crossing into pa from new york one can see the economic impact very plainly.

 

[Mr. H.]

WOO HOO!

RIGZONE - Eagle Ford, Permian Basin on Track to Surpass 2 MMbopd in 2013

Texas oil production from just two fields, the Eagle Ford shale and the Permian Basin, is likely to total well over 2 million barrels of oil per day (MMbopd) this year, if recent output trends continue, and could approach 2.5 MMbopd sometime in 2014, according to analysts.