Tar sands producers lost $ 30.9 billion from 2010 through 2013 due to transportation bottlenecks and the flood of crude
coming from shale - oil fields.
May 7, 2012 • Cash - strapped states are embracing the millions of dollars in new tax revenue
coming from shale oil and gas development.
Much of
it comes from shale, deep petrified mud rich in organic matter that time, heat and pressure have turned into oil and gas.
Of the 800,000 b / d increase in actual field production of crude oil, almost all of the gain has
come from shale and other tight formations that horizontal fracturing methods have only recently opened up.
The advantage of natural gas applies whether
it comes from a shale gas well or a conventional gas well.
«Of the 900,000 barrels per day increase EIA has reported, 750,000 of
it came from shale plays on non-federal lands in Texas and North Dakota.
The extra oil
comes from shale and sandstone.
According to government studies, 50 percent now
comes from shale and unconventional sources.
Not exact matches
Most of it will
come from mines in Wyoming and Montana that find themselves without domestic customers since the
shale gas revolution, combined with emissions control regulation, drove utilities in the U.S. to shut down coal - fired plants and fire up cleaner - burning natural gas plants.
Marathon's higher profit and its deal for Andeavor both
come as U.S. refiners benefit
from stronger demand thanks to U.S.
shale output hitting record highs.
And second, competition will also be
coming from China's own
shale reserves, not to mention coal, which is the prime power - generating source gas producers aim to displace.
This is
coming at a time when shareholders are demanding financial discipline and a better return on investment
from shale drillers, another development that Papa believes will hold back production growth.
The extraordinary cost reductions achieved by North American oil and gas companies have likely reached their limit, and any boost in profitability for much of the U.S.
shale and Canadian oil sands industries will have to
come from higher oil prices, according to a new report
from Moody's Investors Service.
Calpine's deal
comes at a time when the U.S. wholesale power generation industry is struggling with margin pressure as cheap natural gas
from shale fields in recent years has been driving down electricity prices.
The company last year said it would exit its underperforming U.S.
shale oil and gas business after
coming under pressure
from Sydney - based Tribeca Investment Partners to sell the assets.
The bigger risk for Canada is competition
from Appalachia, Bakken and Niobrara
shale basins for the lucrative Midwest markets and eventually for Dawn / Toronto when Rover Phase 2
comes online.
Yes, the resurrection of Keystone XL
comes amid predictions that U.S. light oil
from shale formations in North Dakota and Texas is poised to surge again as crude prices improve and regulations are relaxed.
Specifically, oil
coming from the U.S. oil
shales have doubled and now represent almost 5 million barrels per day of the 9 million barrels per day of oil the U.S. produces.
Gains in Texas crude oil production
come primarily
from unconventional tight oil and
shale reservoirs in the Eagle Ford
Shale in the Western Gulf Basin and the Permian Basin in West Texas.
The higher supply has
come largely
from US and Canadian
shale fields as well as the 2014 Saudis» decision to maintain production levels.
The New York State Department of Environmental Conservation has
come under increased scrutiny as questions have arisen over the agency's ability to oversee Hyrdraulic Fracturing, should the process of extracting natural gas
from shale be legalized in the state.
Campaigners against fracking have been told they are ignoring the benefits that could
come from the controversial technique of releasing
shale gas.
«Because they allow us to distinguish if contaminants are
coming from natural sources, fracking and
shale gas development, coal mining, coal ash disposal, or other causes.»
Levels of contamination were just as high in wastewater
coming from conventional oil and gas wells as
from hydraulically fractured
shale gas wells.
As some of the incentives for fracking
come from the lower carbon emissions produced by gas - fired power stations, a key question is whether the extraction of
shale gas has an additional impact on greenhouse gas (GHG) emissions.
The fossils
come from black
shales originally disturbed by road works at Waterloo Farm.
The study
came under heavy criticism
from Cornell researcher Robert Howarth, who two years prior had published work that claimed methane emissions
from shale gas operations were far more significant.
Of the 6 mb / d increase in global oil production between 2006 and 2014, almost a fifth
came from the Canadian tar sands, and the rest
from the US «
shale oil revolution» driven by fracking.
Reject Greenhouse Gas emissions reductions schemes that
come from high - risk technologies which create irreversible damage to human and planetary health including tar sands,
shale gas, nuclear energy, and geo - engineering;
In fact, this energy
comes from oil
shale rather than coal.
Since most of the
shale gas in the foreseeable decade is
coming from Sichuan, expect that a majority of these demo projects happen (or don't happen) there.
Between January and May, U.S. carbon emissions fell to a 20 - year low; 48 percent of that resulted
from substituting coal for cheap
shale natural gas, while little, if any,
came from deploying subsidized wind and solar, according to Michael Levi, the director of the climate change program at the Council on Foreign Relations.
In Australia much of the financial support for Abbott's Liberal Party
comes from the coal industry while in Canada PM Harper's support
comes from the highly polluting tar - sands and oil -
shale mining businesses.
Even if other production
comes on line, e.g.
from unconventional sources such as tar sands in Alberta or
shale in the American West, their relatively high cost of production could permit low - cost producers, particularly Saudi Arabia, to increase production, drop prices for a time, and undermine the economic viability of the higher - cost competitors, as occurred in the mid-1980's.
But the biggest factor making any shift possible is the abundance and affordability of natural gas
coming from the country's
shale fields.
And petroleum — there aren't any oil
shales on the ocean floors, the precursors of petroleum, so where is the carbon for this
coming from?
It has all the hallmarks of a new industry with ups and downs, but it is clearly here to stay — even with cheap natural gas
coming from hydraulic fracturing (fracking) in
shale formations.
Some of the difference between the oil company scenarios and those
from green NGO's and academics is due to fossil fuel lobby assumptions about demand and the role of gas (including
shale gas), with CCS also seen as
coming on line in a big way.
Investigators were able to do a kind of «fingerprinting» to determine the source, and concluded the gas did not
come from the Marcellus
shale.
The American Gas Association (AGA), flush with cash
from increased consumption of
shale gas extracted through fracking, and all the political power that
comes with it, makes no bones about wanting the repeal of Section 433 of the 2007 Energy Independence and Security Act (EISA).
Consider the Source (or, How to Swashbuckle Like a Pirate) The American Gas Association (AGA), flush with cash
from increased consumption of
shale gas extracted through fracking, and all the political power that
comes with it, makes no bones about wanting the repeal of Section 433 of the 2007 Energy Independence and Security Act (EISA).
(In its 2005 energy bill, Congress included an exemption
from SDWA oversight for the water put into the ground for hydraulic fracturing — a provision that has
come to be known as the «Halliburton loophole» after the oil and gas industry service company that is active in the
shale industry.)
On the heels of the
shale gas rush that's swept the U.S. for the past decade, another wave of fossil fuel - based projects is
coming — a plastic and petrochemical manufacturing rush that environmentalists warn could make smog worse in communities already breathing air pollution
from fracking, sicken workers, and expand the plastic trash gyres in the world's oceans.
One problem is that producing oil
from shale or oil sands generates significant amounts of carbon dioxide — but a lot of that carbon dioxide
comes from producing the hydrogen needed to process the raw materials.
While U.S. oil production is down
from last year's highs and bankruptcies are up, the industry has become more efficient and the cost of extracting oil
from shale is continuing to
come down — resulting in the sixth straight week of an increased rig count and the 15th without a decrease.