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Obama Administration to Propose New Standards for Big Trucks

WASHINGTON—The Obama administration is set to propose Friday new standards for big trucks aimed at lowering fuel costs and cutting carbon emissions as part of President Barack Obama’s broad climate-change agenda. The U.S. Environmental Protection Agency and the Transportation Department will announce a suite of draft standards for big trucks, including garbage trucks, 18-wheelers and heavy-duty pickup trucks, according to a person familiar with the proposal. The standards will apply to big trucks built after 2018 and are a follow-up to the first-ever federal standards for big trucks that the Obama administration announced in 2011 that apply to models built between 2014 and 2018. The standards will also, for the first time ever, regulate trailers that are part of 18-wheelers and other big hauling trucks and issue tougher limits on the part of the truck hauling the trailer, called the tractor, according to multiple industry officials. The draft standards, […]

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Status on the Bakken ”Red Queen”

This post presents a study of developments of Light Tight Oil (LTO, shale oil) extraction for 8 companies in Bakken(ND) that as of April 2015 had added around 600 (or more) producing wells in the Bakken/Three Forks formations since January 2008. The 8 companies are; Continental Resources, EOG Resources, Hess Bakken Investments, Marathon Oil Company, Oasis Petroleum, Statoil Oil & Gas, Whiting Oil and Gas Corporation and XTO Energy . These 8 companies had around 63% of total LTO extraction from Bakken as of April 2015. The decline in the oil price has so far reduced the number of rigs drilling in Bakken and a decline in total Light LTO extraction in Bakken. This study shows there are differences in responses amongst the studied companies to the oil price decline. As with most other things, size matters, also in Bakken. Data from the North Dakota Industrial Commission (NDIC) shows […]

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Merkel says deal with Greece still possible if Athens musters will

BERLIN German Chancellor Angela Merkel said on Thursday that it is still possible for Greece to reach an agreement with its international creditors – the European Union, International Monetary Fund and European Central Bank. In a speech in parliament, Merkel also said Germany’s efforts are focused on keeping Greece in the euro zone. Merkel, who was interrupted by hecklers from opposition parties, added that Greece must decisively implement reforms. "I’m still convinced: Where there’s a will, there’s a way," she said. "If those in charge in Greece can muster the will, an agreement with the three institutions is still possible." (Reporting by Erik Kirschbaum and Michael Nienaber; Editing by Paul Carrel )

Posted On : Published By : Tom Whipple
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Two Billion People Are Running out of Water

Forget about peak oil—we should be worrying about peak water: Groundwater basins that supply 2 billion people are being rapidly depleted , according to a new study. Worse: No one knows how long those reserves will last. A research team led by scientists at the University of California, Irvine, examined the world’s 37 largest aquifers between 2003 and 2013 and found that one-third of them were “stressed,” meaning more water was being removed than replenished, according to one of two studies published Tuesday in the journal Water Resources Research . The eight worst-off aquifers, labeled “overstressed,” had virtually no natural replenishment to offset human consumption. The scientists determined the Northwest Sahara Aquifer System, which supplies water to 60 million people, to be the most overstressed. The Indus Basin aquifer of northwestern India and Pakistan is the second-most overstressed, followed by the Murzuk-Djado Basin in northern Africa. California’s Central Valley […]

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OMV, Gazprom mull pipeline expansions

Austrian energy company OMV reviews options to add new lines to existing Nord Stream gas pipeline with Russia’s Gazprom. Photo by Kodda/Shutterstock ST. PETERSBURG, Russia, June 18 (UPI) — Adding two new lines to the twin Nord Stream natural gas pipeline sending Russian gas to the European market is under consideration, Austrian company OMV said. Lead officials with OMV visited in St. Petersburg with Alexei Miller , the chairman of Russian energy company Gazprom, for a working meeting . Both sides signed a memorandum of understanding for the development of oil and gas fields in Russia. "The memorandum also sets forth the intentions of the parties to examine a possible cooperation in the project of construction of two lines in addition to the already existing Nord Stream pipeline," the Austrian company said in a statement. OMV is a partner in Gazprom’s twin Nord Stream pipeline running through the Baltic […]

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Wales opens mega offshore wind farm

Welsh first minister on hand for inauguration of offshore wind farm, which German energy company RWE says will put it in a leadership position in the offshore market. Photo courtesy of RWE. CARDIFF, Wales, June 18 (UPI) — With Wednesday’s inauguration of a Welsh wind farm, German energy company RWE said it’s positioned to be one of the largest wind energy providers in the world. Welsh First Minister Carwyn Jones was on hand for the inauguration of the Gwynt y Mor wind farm, the second largest installation of its kinds with 160 turbines. "Local companies have been among those to benefit during construction and the site will bring high quality employment and opportunities for years to come," he said in a statement. The wind farm will have a peak operational capacity of 576 megawatts, which RWE says will be enough to meet the energy demands of about 30 percent […]

Posted On : Published By : Tom Whipple
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London to end subsidies for onshore wind

British government proposes end to public subsidies for onshore wind, but Scotland, which hosts most of the regional onshore wind farms, says the move is regrettable. File Photo by UPI/Pat Benic LONDON, June 18 (UPI) — Scotland said an end to subsidies for onshore wind farms will tack on extra costs, though the British government said it’s the best deal for consumers. London announced plans to end public subsidies for new onshore wind farms starting in April 2016. Last year, the $1.2 billion in government support helped onshore wind power generate 5 percent of total British electricity and bring the region closer to its climate change goals, the British government said. "We are driving forward our commitment to end new onshore wind subsidies and give local communities the final say over any new wind farms," Energy and Climate Change Secretary Amber Rudd said in a statement. "Onshore wind is […]

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Greece to Sign Russian Gas Pipeline Deal

Greek Prime Minister Alexis Tsipras is due to meet Russian President Vladimir Putin. ST PETERSBURG, Russia—Greece is expecting to sign a preliminary agreement for the country’s participation in Russia’s planned extension of a gas pipeline through Greek territory, Greek energy ministry officials said Thursday. Meanwhile, Russian gas giant OAO Gazprom OGZPY 0.18 % said it had reached a preliminary deal with three European energy companies to double the capacity of a gas pipeline that takes Russian gas to Germany under the Baltic Sea. The potential Greek-Russian agreement, which wouldn’t be legally binding, is expected to be signed Friday during Greek Prime Minister Alexis Tsipras’ visit to an economic conference in St. Petersburg. Mr. Tsipras is due to meet Russian President Vladimir Putin Friday on the sidelines of the forum. The agreement on the so-called ’Turkish Stream’ gas pipeline, which would bring Russian gas to Europe through Greece and Turkey, […]

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In Eurozone, Growing Support for a Greek Exit

Of the countless writs and regulations that govern Europe’s currency club, one golden rule trumps them all: Membership is conditional. After joining the euro in 2001 and through the bailouts of the last five years, Greece has been told the same thing. To belong, it must satisfy the strict economic standards that underpin this community of 19 disparate nations. Now, as yet another Greek government resists the rule makers, the view is taking hold in Europe that its ambitious currency project would be better served if Greece just left. At its root, the euro project is an enterprise that succeeds only if its members follow the rules. Such a dire outcome is not assured, of course. Greece and its creditors could strike a deal, unlocking fresh aid and avoiding a default. Greek government officials said debt talks with creditors would continue through the weekend. And there is a chance […]

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Exclusive: Gazprom building global alliance with expanded Shell

ST PETERSBURG, Russia Gazprom is building a global strategic alliance with energy major Royal Dutch Shell that will include asset swaps and allow the Russian gas giant to penetrate new markets, its chief executive told Reuters. Gazprom, the world’s top gas producer, said on Thursday that Shell and its long-time gas buyers in Europe – Germany’s E.ON and Austria’s OMV – had agreed to build two new Nord Stream gas pipelines under the Baltic sea to Germany. In a rare interview, chief executive Alexei Miller said the agreement with Shell also foresaw an expansion of the firms’ joint $20 billion liquefied natural gas plant on the eastern island of Sakhalin as well as global upstream asset swaps. "Documents of such significance are signed only once every five years or maybe even 10," Miller said on the sidelines of Russia’s top forum for investors in Saint Petersburg. The deal with […]

Posted On : Published By : Tom Whipple