Sentences with phrase «shale oil more»

The companies say the pipeline would carry Bakken shale oil more cheaply and safely from North Dakota to Illinois en route to U.S. Gulf Coast refineries than it could be shipped by railroad or tanker trucks.

Not exact matches

Then, higher oil prices could also spur more production from areas outside the hottest U.S. shale play.

It is redesigning its deepwater oil platforms and onshore shale - gas projects to simplify them, a major cultural change at a firm that has long prided itself more for engineering prowess than for economic discipline.

U.S. shale producers have pioneered new techniques to drill oil more efficiently but also in places that were once seen as impossible.

While Tillerson has ties to Russia, he partly missed a key energy development back home in the United States by ceding growth potential in the shale oil industry to smaller, more nimble rivals, including Continental Resources.

The so - called shale revolution could help to alleviate Washington's reliance on foreign oil, including from turbulent Middle Eastern states, while also supporting a bid to export to more countries around the world.

Global shale resources are vast enough to cover more than a decade of oil consumption, according to the first - ever U.S. assessment of reserves from Russia to Argentina.

Unlike traditional onshore oilfields, which might have an annual production decline of 5 % or less, shale oil wells often decline more than 50 % in their first year.

More bountiful still is oil shale, a type of heavy oil that lies between layers of rocks like North Dakota's shale - oil but requires oilsand - like extraction and upgrading techniques.

What's more, any uptick in oil prices will likely incentivize non-OPEC countries, for instance, U.S. shale producers, to pump up supplies.

As they expire, small and medium sized shale companies will be more exposed to lower oil prices.

What's more, the U.S. Energy Information Administration (EIA) just reported that, thanks to the revitalized shale revolution, the U.S. produced over 10 million barrels of oil per day in November, the first time it's done so since 1970.

The only production that could be brought back on line fast is shale oil, but without the extremely low interest rates caused by government meddling, shale drilling will be much more expensive in the future.

Of course, supply and demand will have to balance out over time, and more Iranian crude will force a larger adjustment from U.S. shale, so U.S. oil production could see a deeper contraction.

Thanks to the so - called shale revolution, the US has enough oil that it's actually exporting more than 3 million barrels a day of gasoline and diesel to the rest of the world.

After becoming CEO in 2006, Tillerson led Exxon through more than a decade of ups and downs that included the late Hugo Chavez's seizure of Venezuelan oil fields, annual profits that set U.S. corporate records, and a 2010 shale acquisition that turned into a $ 35 billion wrong - way bet on natural gas.

BP Plc is weighing an acquisition of some of BHP Billiton Ltd.'s energy assets as the British oil major seeks more U.S. shale, according to people familiar with the matter.

The boom in unconventional fuels — such as bitumen extracted from Alberta's tar sands and oil extracted from North Dakota's Bakken shale formation by hydraulic fracturing («fracking»)-- has swelled global reserves even as climate scientists issue ever - sterner warnings that burning more than a small fraction of these reserves would be suicidal.

As the oil price increases, the shale output will also increase with more producers in the market.

One small group thinks that lower for longer could end soon because U.S. shale can't keep a lid on prices forever and can't catch up with expected robust demand — all the more so that investments in conventional supply around the world have slumped since the oil prices started crashing.

Among commodities, oil prices moved higher as fears about rising US shale production abated somewhat, and market participants began giving more weight to the effectiveness of supply cuts by members of the Organization of the Petroleum Exporting Countries and several other large oil - producing countries.

Less than a year ago major shale firms were saying they needed oil above $ 60 a barrel to produce more; now some say they will settle for far less in deciding whether to crank up output after the worst oil price crash in a generation.

More recently, as oil prices have struggled with the prospect of U.S. shale production re-accelerating, inflation expectations have slid lower as well.

Oil production from US shale currently equates to less than 5 million barrels of oil per day out of total US production of slightly more than 9 million per dOil production from US shale currently equates to less than 5 million barrels of oil per day out of total US production of slightly more than 9 million per doil per day out of total US production of slightly more than 9 million per day.

NEW ORLEANS U.S. oil producer Devon Energy Corp said on Monday it was looking to sell even more assets than previously announced in order to focus its portfolio on three shale regions.

In other cases, the story is more nuanced: For example, oil and gas extraction firms benefit, while the producers of petroleum and coal products lose, echoing the tension between refiners and oil - shale producers.

With the US currently feeling more or less self - sufficient with the shale oil / gas boom of the last decade, the primary market for bitumen has dried up, and shipping it around the world is laughably uneconomical.

And that's where shale producers can gain even more traction over heavy oil and offshore rivals, not to mention the Saudis.

I was concerned in several conversations, with me undertaking most of the listening, about the prospect of a sharp oil price tag spike, if the Opec exporters» cartel, getting broken US shale producers by dragging prices down, starts off limiting source as soon as much more.

shale oil may be a bubble but countries like Libya Iraq Iran produce nothing compared to their potential / production capacity + there is always offshore exploration recently Morocco seems to be in the spot light not to mention the arctic sea / north pole especially Russia where a new Koweit is to be found and also south China sea Venezuela's tight oil if all the types of oil are included venezuela must be a heaven with a quarter of global oil reserves with +300 billion barrels more than 260 bbls of Saudi Arabia that can still produce more than 10/11 million barrel / day that it's procucing today.

Lou Mercer: Yeah, so I think that's a key point, is that there are some other factors in play here, and that is that not only is oil shale production up, but the technology is getting more and more affordable, as it often does.

Bitumen production is way more expensive than oil from shale.

However, the fact that the average quantity of frack sand used per well has more than doubled in recent years — which has helped lower the breakeven price of U.S. shale oil — should help insulate the industry from the worst of the oil crash.

However, gold may be the more attractive bet over the long term as geopolitical risks and rising U.S. shale production squeeze oil prices.

«Assuming that technology will allow ever more shale gas production at low prices — and betting energy policy and the future energy security of the country on it — is risky business,» says geologist David Hughes, who retired from the Canadian Geological Survey and is now doing assessments of shale gas and oil for the nonprofit Post Carbon Institute, a California - based environmental think tank.

Whether such a quantity can be produced from tar sands and oil shale at a price near (never mind below) $ 30 per barrel is highly uncertain, but more suggestive of Lomborgs confusion in any case is that the price he mentions is higher (according to his own Figure 65) than the price of oil has been for any prolonged period in the last 120 years except for 1979 - 86, in the aftermath of the second (1979) Arab - OPEC oil - price shock.3 This means resources of tar sands and oil shale that would be economically exploitable only at prices around $ 30 per barrel are in fact more expensive than oil has been for nearly all of the last century.

Hydraulic fracturing, a technique for extracting oil and gas from shale rock, often takes place a mile or more below groundwater supplies.

Fracking (hydraulic fracturing) rock fracturing with pressurized liquid creating cracks in deep - rock formations through which shale gas, oil, tight gas and brine will flow more freely... major part of the Golden Age of Gas

Moreover, I think you are failing to take into account that while Oil is running out, we have more than enough coal, oil shale, tar sands, etc. to continue to cook our gooOil is running out, we have more than enough coal, oil shale, tar sands, etc. to continue to cook our goooil shale, tar sands, etc. to continue to cook our goose.

If this happens, a combination of even more subsidies to the oil companies and technological breakthroughs could easily enable both tar sands and shale oil - and then we may be really in trouble.

Landscapes will continue to suffer as we move to more tar sands, oil shales, etc..

Gasoline from traditional sources, including these harebrained schemes to go offshore and onto ANWR, is inseparable from tar sands and oil shale, which are far more abundant and destructive (as Raypierre pointed out).

Then there's well over a TRILLION barrels of recoverable shale oil, more than the world has used in all of history.

It's an initial sign that the oil and gas industry is waking up to the need for far more transparency if shale gas is to play a substantial role in America's energy mix any time soon.

In case you missed it, the oil was being carried from America's new oil patch, the Bakken shale fields of North Dakota, to a St. John, New Brunswick, refinery that, according to the owner, Irving Energy, sends more than half of its 300,000 daily barrels of petroleum products back across the border to the northeastern United States.

With shale oil and more coal than anybody else that can be turned in to oil, it is not a matter of survival if we have the will to use what we already have.

A more likely scenario if we do nothing is that emissions will continue at a rapid pace as oil from sand and shale plus coal substantially replace oil and natural gas, with the consequence that we will have dug ourselves into a deeper hole in terms of having sufficient resources to reduce emissions sufficiently without major disruption to our society.

Those guys go around saying the oil just isn't there (and if you blather about biodisel or shale, they will tell you that it takes more energy to get that stuff than you get out of it.)

Despite our talk, the reality is that we and others are searching everywhere for more oil — from new oil fields, tar sands, oil shales, or anywhere else they may be hiding.

We might not then need the tar sands and oil shales, and this would be a better overall solution because we would be able to reduce emissions and re-stabilize the climate more quickly, and thus avoid the need for some of the more extreme adaptation measures.