Insight and inspiration in turbulent times.
Proved reserves of natural gas increased for the fifth year in a row, according to “Advance Summary: U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves 2003 Annual Report” released today by the Energy Information Administration. U.S. natural gas reserves increased by 1 percent in 2003.
Testifying before a House Small Business subcommittee on behalf of the American Farm Bureau Federation, Missouri farmer Hal Swaney said increased energy costs over the 2003 through 2004 growing season have cost farmers more than $6 billion in added expenses to produce the food and fiber for this country.
A terrorist attack on an LNG tanker “would have the force of a small nuclear explosion,” according to the chairman of Lloyd’s, a British insurer of natural gas port facilities like the ones being proposed in Fall River and Providence.
The world of crude has flipped upside down, with high prices becoming the norm, says the president of Devon Energy Corp., the largest U.S. oil and gas independent.
Untapped fossil-fuel reserves could be hidden deep within our planet.
Australia and Mexico will forge an energy co-operation agreement in November, the energy minister of Australia, which wants to sell more coal and gas to the Latin American country, said yesterday.
“A book would need to be written in order to fully explain and diagram the on-going discussions and controversy that surrounds the prospect of drilling on the Rocky Mountain Front in Montana.”
Julian Darley, the founder of a Vancouver-based energy think tank has claimed that North America is on the verge of “a full-blown natural-gas crisis”.
Energy giant Exxon Mobil Corporation said while energy companies continued to work on reducing greenhouse gas emissions, there were some big challenges in bringing clean energy products onto the market.
Consumers may be up in arms, but a host of law firms are reaping the benefits of the UK’s dwindling gas supplies as preparations hot up for the country’s first liquefied natural gas (LNG) import terminals.
When the question of oil and gas depletion is raised the flat earth fraternity often can’t help themselves laughing whilst pointing out “but we’ve never produced more than we are today, the world is awash in oil and gas”. A sobering lesson is to be learnt by looking at the current depletion rates in New Zealand’s Maui natural gas field.
“The odd thing about oil prices in the last 20 years was how unbelievably low they were, as opposed to how odd it is that oil prices are at the level they are today.”
