Insight and inspiration in turbulent times.
-Cabot’s Methodology Links Tainted Water Wells to Gas Fracking
-Shale gas report by health officer may remain secret
-Experts: Despite China’s efforts, technology constraints could curb shale gas development
-Water problem in shale is drawing a flood of capital
-Penn State Faculty Snub of Fracking Study Ends Research
Abandoned by the state of Pennsylvania and drilling company Rex Energy after the state’s testing found no evidence of groundwater contamination, distressed residents (whose well water is discolored and reeks, and whose families have suffered rashes and other ailments) had nowhere else to turn for clean water but their community. That’s when a group of area churches, including the Presbyterian church where my dad is a pastor, joined together to supply jugs and bottles of clean drinking water to affected families.
No doubt you’ve heard people speak of an energy transition from a fossil fuel-based society to one based on renewable energy–energy which by its very nature cannot run out. Here’s the short answer to why we need do it fast: climate change and fossil fuel depletion. And, here’s the short answer to why we’re way behind: History suggests that it can take up to 50 years to replace an existing energy infrastructure, and we don’t have that long.
Oil prices were once again oscillating between the price depressing effects of economic uncertainty and the price enhancing effects of Middle East political uncertainties this week…Saudi Arabia has promised to keep oil markets supplied in the event of shortfalls elsewhere, but Deutsche Bank, and others question whether the kingdom is really in a position to make good on the promise. The IEA now estimates Saudi spare capacity at just under 2 million barrels/day.
-Fracking Regulations In States Leave Wells Without Inspection, Environmental Group Says
-Report leaves debate open on contested Wyoming fracking study
-The Amazing Confusion Over European Shale
-Matt Damon’s ‘The Promised Land’ Takes on Natural Gas and Fracking
In this post I present the results from an in depth time series analysis from wells producing crude oil (and small volumes of natural gas) from the Bakken (Bakken, Sanish, Three Forks and Bakken/Three Forks Pools) formation in North Dakota. The analysis uses actual production data from the North Dakota Industrial Commission as of July 2012 from what was found to be a representative selection of wells from operating companies and areas.
Oil prices fell dramatically this week to $107/barrel for Brent, on worsening economic news from China and Europe, and assurances from Saudi Arabia that it is ready to pump more oil to keep prices down. The speed of the fall on Monday however is something of a mystery and has led to an investigation by the Commodity Futures Trading Commission and the FSA.
-Fracking: Boom or Doom
-Deepening Doubts About Fracked Shale Gas Wells’ Long Term Prospects
-Gazprom Rethinks Shale as European Gas Prices Sink
-Britain’s bosses back shale gas to cut imports
-Fracking banned by Quebec government
The victory last year to stop the Keystone XL pipeline was a temporary victory. I guess all environmental victories are temporary, but this one was even more temporary than most. Mitt Romney has made it absolutely clear that if he wins the election his first duty, on his first day in office, will be to approve the Keystone XL pipeline. Barack Obama hasn’t said one way or another what he will do, but the signs aren’t particularly great.
Energy news was dominated this week by the growing controversy over shale gas in Europe and the UK…
…Kunstler has a new work of social criticism titled Too Much Magic, his first nonfiction book since The Long Emergency came out in 2005. The book is an inquiry into a skewed, delusional perception of reality that Kunstler thinks has become “baseline normal for the American public lately.” Americans, he says, have been led astray by the incredible technological advancements of recent times. We’ve come to believe that any problem we face is solvable—as if by magic—with the application of some new technology.
Under the Securities and Exchange Commission’s (SEC) new rule for oil and gas, companies have been allowed much greater freedom to book reserves. On the surface, there is a good argument to be made for expanding the definition of allowable booked reserves. But in practice, this may have opened the door to false valuations of shale assets.
