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Murkowski leads effort to push Keystone XL pipeline, LNG exports

U.S. Sen. Lisa Murkowski unveiled a measure that would facilitate the construction of the Keystone XL oil pipeline and fast-track liquefied natural gas exports. Murkwoski, R-Alaska, ranking member on the Senate Energy Committee, joined Sen. John Hoeven , R-N.D., and John Barrasso, R-Wyo., in introducing the Energy Security Act as an amendment to a bill that would extend unemployment assistance. The measure authorizes pipeline company TransCanada to build the Keystone XL oil pipeline. Keystone XL needs federal approval as a cross-border pipeline, though the Senate leaders said lawmakers have the authority to act under the foreign Commerce Clause. The amendment also calls on the Department of Energy to approve applications to export liquefied natural gas to Ukraine, Japan and NATO allies that don’t have a free-trade agreement with the United States. Current law requires a consideration of public interest before granting LNG export licenses to […]

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U.S. House puts energy at top of budget plan

A budget proposal puts U.S. energy production at the top of the list of ways to generate new revenue, the House Natural Resources Committee chairman said. House Natural Resources Committee Chairman Doc Hastings , R-Wash, said a budget offered by House Budget Committee Chairman Paul Ryan recognizes U.S. energy reserves as a source of economic stimulus. "It prioritizes expanded American energy production and recognizes that new energy development is one of the best ways to raise new revenue, put Americans back to work, bolster the economy, lower gasoline prices, and create good-paying jobs," Hastings said . Ryan, R-Wisc., said his budget proposal would cut $5.1 trillion in government spending. His proposal calls for more competition in the energy sector, fewer corporate subsidies, and a strengthening of U.S. energy security through greater production. Rep. Chris Van Hollen , D-Md., ranking member of the budget committee, said […]

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Net energy imports in 2013 lowest in more than 20 years

Total U.S. net imports of energy, measured in terms of energy content, declined in 2013 to their lowest level in more than two decades. Growth in the production of oil and natural gas displaced imports and supported increased petroleum product exports, driving most of the decline. A large drop in energy imports together with a smaller increase in energy exports led to a 19% decrease in net energy imports from 2012 to 2013. Total energy imports declined faster—down 9% from 2012 to 2013—than in the previous year, while export growth slowed. Crude oil production grew 15%, about the same pace as in 2012, which led imports of crude oil to decrease by 12%, accounting for much of the overall decline in imports. These data reflect only the energy content of energy trade. For more information on the value of energy trade, see a previous series of Today in Energy […]

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Foreign Frackers Now Find Comfort in Water-Hungry Spain

A few years ago, fracking in Spain seemed as likely as bullfighting in Britain. These days, energy companies from Texas, Canada and Ireland are going after exploration and drilling permits in hopes of capitalizing on geology that indicates Spain has a sizable chunk of the 883 trillion cubic feet of natural gas in shale estimated to sit under Europe . What’s changed? A sluggish economy for one — the energy industry estimates fracking could eventually create tens of thousands of jobs in a nation with an unemployment rate of 26 percent. Unlocking gas deposits might ease what consumers pay for the heating fuel. It’s about triple the U.S. price. As important, the national government, with the economy in mind, took a pro-fracking stance even as regional and local authorities harden what’s long been widespread European environmental opposition to oil and gas development of any kind. In December, two years […]

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Britain Confronts Gas Mother Lode With Fracking by Lord Browne

The hills of Lancashire, England, sit atop a mother lode of shale gas that may be extracted with hydraulic fracturing, or fracking. Photograph: Alan Clarke/Bloomberg Markets Close The hills of Lancashire, England, sit atop a mother lode of shale gas that may be extracted with hydraulic… Read More The hills of Lancashire, England, sit atop a mother lode of shale gas that may be extracted with hydraulic fracturing, or fracking. Photograph: Alan Clarke/Bloomberg Markets Close John Browne, a former CEO of BP, is a prime mover behind efforts exploit Britain’s natural gas through fracking. … Read More John Browne, a former CEO of BP, is a prime mover behind efforts exploit Britain’s natural gas through fracking. Photograph: Alan Clarke/Bloomberg Markets Close Andrew Pemberton, who keeps 130 cows, says he’s worried that his dairy business is located downstream from a proposed… Read More Andrew Pemberton, who keeps […]

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Gazprom chief Miller meets EU leaders

Russian energy company Gazprom said Wednesday its chief executive, Alexei Miller , went to Brussels to discuss his commitments to the European energy sector. Miller met in Brussels with European Commissioner for Energy Gunther Oettinger and German Foreign Minister Frank-Walter Steinmeier. Gazprom in a statement said both sides discussed a "wide range" of bilateral issues. "The parties confirmed their interest in maintaining the mutually beneficial relationship built over the decades of successful collaboration," the Russian company said in a statement . There was no public statement from Oettinger or the German foreign minister on the meeting with Miller. European leaders have tried to add a layer of diversity to a natural gas market that’s dependent on Russia. Ukraine’s role as a transit nation for Russian gas has added to concerns about European energy security. European officials have looked to supplies from gas-rich Azerbaijan as a […]

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Air pollution hits maximum level in southeast Britain

Air pollution in parts of Greater London and southeast England deteriorated on Thursday, hitting the maximum level on the government scale despite forecasts that it would start to abate. Defra, the environment department, forecasts that air pollution will be at or near 10 on its scale of one to 10 in East Anglia, through the Midlands, into easternmost Wales, on Merseyside and as far south as through London into northern Kent. A reading of 10 is classified as “very high”. Frank Kelly, professor of environmental health at King’s College London, said: “Today is going to be the worst day of the last couple of weeks.” He recommended that children be kept indoors in areas where pollution is high or very high. “The general understanding of the effects of air pollution on children is that it leads to a decrease in their lung growth,” he said. “This is precautionary […]

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Cuadrilla: UK Could Produce Shale Gas in 4 Years in Emergency

LONDON, April 2 (Reuters) – Shale gas production in Britain could begin within four years if the current crisis in Ukraine escalates to such an extent that a national state of emergency is declared, the chief executive of Cuadrilla Resources said. Britain is in the early stages of exploring for shale gas to counter its growing dependence on imports, and geologists have estimated it could have shale resources equivalent to several hundred years of demand. Cuadrilla is the only company in Britain so far to have used hydraulic fracturing, or fracking, in test wells in Lancashire. It is two to three years away from establishing whether its British shale gas operations are commercially viable, Chief Executive Francis Egan said at an event at think-tank Chatham House on Tuesday evening. If the Ukraine crisis worsens dramatically and Britain declares a state of national emergency and removes all constraints, "it would […]

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Oil Futures Choppy Ahead U.S. Crude Stockpile Report

Crude-oil futures fluctuated between gains and losses in Asian trading hours Wednesday after a sharp overnight drop that sent Nymex WTI below the $100 a barrel mark. On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded at $99.58 a barrel at 0519 GMT, down $0.16 in the Globex electronic session. May Brent crude on London’s ICE Futures exchange was unchanged at $105.62 a barrel. "The selloff in both markets is likely the unwinding of recent long positions associated with the situation in Crimea," ANZ said. Late Tuesday, the American Petroleum Institute, a trade group, reported that U.S. crude-oil inventories unexpectedly fell by 5.8 million barrels for the week ended March 28. The more definitive oil inventory report from the U.S. Energy information Administration is due later today. U.S. oil stockpiles are expected to rise by 700,000 barrels last week, according […]

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Oil down slightly ahead of US inventories report

The price of oil was steady Wednesday after a big fall the day before as traders waited for a report on U.S. crude stockpiles. Benchmark U.S. crude for May delivery was down 2 cents to $99.71 a barrel at 0720 GMT in electronic trading on the New York Mercantile Exchange. The contract slid $1.84 to $99.74 on Tuesday, dented by soft Chinese manufacturing figures and expectations of another increase in U.S. crude stockpiles. Brent crude, used to set prices for international varieties of oil, was up 6 cents to $105.68 a barrel on the ICE exchange in London. Despite recent signs of weakening manufacturing in China, which could dent oil demand, there are new signs of life in the U.S. economy including a report from the U.S. Commerce Department earlier this week showing rising construction spending. But U.S. crude oil inventories due later Wednesday are expected to show demand […]

Posted On : Published By : Tom Whipple