U.S. energy official praises Russia’s oil increase
The U.S. energy secretary, Spencer Abraham, praised on Friday Russia’s plans to increase oil exports to America and highlighted natural gas as the next long-term U.S.- Russia joint energy project.
Natural Gas
Gas demand to soar for Canada’s oil sands – report
Natural gas volumes needed to help the oil industry unlock Canada’s vast oil sands are expected to nearly triple in the next decade, just as production is waning and prices are surging, the country’s energy regulator said Thursday.
New Information Documents Bush Administration’s Land-Management Shift
Secret policy changes made oil and gas development the dominant use of federal lands.[US]
US: No undue delays for LNG projects, FERC says
Federal agency works to finish LNG safety report; consultant says difficult to predict fire potential from spills
The Downward Trend Continues: Q1 Gas Production Survey Shows Massive 4.2% Decline
For the past several years, we have been publishing U.S. natural gas production surveys of publicly traded companies. The bottom-line story has remained essentially the same throughout this entire time: U.S. natural gas production is heading firmly downwards, despite a massive increase in drilling activity.
Colorado gas wells rely on true grit
Colorado is full of sand, but it’s useless for luring natural gas out of the earth through an increasingly important drilling method called hydraulic fracturing.
Despite Drilling, U.S. Gas Output Continued Decline in Q1
Three analyst groups have concluded that quarterly U.S. natural gas production dropped between 4.9-5.3% compared with a year ago, led by a sharp decline among the majors.
US: High natural gas prices driving up well drilling in northwestern Pa.
Gas prices, and the demand for permits, have been increasing steadily for about the past five years.
US: gas devotees look for something solid
“LNG will not be coming into this country on the timeline that people have been hoping for. When the gas does arrive here, it will not be at a dollar or two an MCF but at $5 or $6.”
US: Natural Gas Supply, Demand and Pricing
Financial columnist Andrew Weissman predicts high energy prices for the US.
Russia: Top secret oil
British Petroleum states that Russian oil reserves equal to 60 billion barrels.
Such relatively modest amount leads us to believe that a new Russian law consummated in February 2004 was no coincidence. According to the new law, any information concerning oil reserves in the country is in fact State secret.
World Oil Crisis Looms
Geologists and analysts have been saying for some time that estimates of global oil reserves may be dangerously exaggerated. The oil industry has been gripped by scandal since Royal Dutch/Shell twice this year downgraded its proven oil reserves by 20 per cent, or nearly 4bn barrels. Shell may not be alone. Other companies and even governments have hyped up the estimates of how much oil they have, which is a vital factor in measuring their economic health…. About four-fifths of the world’s known oil reserves lie in politically unstable or contested regions.