In a New York Times editorial celebrating the recent demise of the ethanol subsidy, the Old Grey Lady once again descends into outright falsehood to malign the industry that Progressives love to hate: Congress should now focus on the oil industry, which has long enjoyed a web of arcane and unnecessary tax breaks — deductions for well depletion and intangible drilling costs. They are unique | Read More »
1. Despite a natural gas drilling moratorium in New York, that state’s Chemung and Broome Counties are feeling the economic lift from drilling next door in Pennsylvania. But to the New York Times, the ex-pat workers, largely from Texas, Oklahoma and Louisiana, have awfully low-brow tastes, don’t you know. (NYT link below the fold.) 2a & 2b. The Daily Beast seems to have turned over | Read More »
On an annual basis, retail gasoline prices hit an all-time high in 2011. The average price for all grades was $3.576 per gallon, vs $3.299 in 2008. Meanwhile, the shale gas revolution has set the stage for declining prices per mmbtu of natural gas.
Natural gas spot prices. Source: http://www.eia.gov.
On Wednesday of the week just past, the Department of the Interior conducted the first sale of oil and gas leases in the Gulf of Mexico since BP’s Macondo oil spill. Measured by the statistics touted in Interior’s press release, the sale would appear to be a rousing success: NEW ORLEANS – The Department of the Interior’s Bureau of Ocean Energy Management announced that its | Read More »
Another day, another distorted and fear-mongering attack from the Old Grey Lady on America’s natural gas industry. Headline: Add Quakes to Rumblings Over Gas Rush (originally published under the headline “Some Blame Hydraulic Fracturing For Earthquake Epidemic”; link may require subscription/signup) Nine quakes in eight months in a seismically inactive area is unusual. But Ohio seismologists found another surprise when they plotted the quakes’ epicenters: | Read More »
On Monday, Canada’s Environment Minister Peter Kent announced that his country would exercise its legal option to end its participation in the Kyoto Protocols. The Protocols were a United Nations initiative, adopted in 1997 with a goal of rolling carbon dioxide emissions back to 1990 levels in an effort to stop Global Warming. Failure to meet those goals would incur stiff monetary penalties. Canada will | Read More »
Iron Eyes Cody cried at the sight of polluted waters and skies in a famous public service announcement, first aired in 1971. Old Iron Eyes may have been a faux-Indian, but his message resonated with people. The Crying Indian PSA was one of the most successful ever. It resonated because it was true. In the early ’70s, the environment was a mess. Urban skies were | Read More »
On Tuesday, the Institute for Energy Research issued its North American Energy Inventory (.pdf link), a report which documents the government’s own estimates of oil, natural gas and coal resources for the U.S., Canada and Mexico. (The IER is a non-profit, non-partisan 501(c)3 organization that is dedicated to advancing America’s supply using free market principles.) In a nutshell, North America contains a vast bounty of | Read More »
In its never-ending quest to stop the peril this country faces from natural gas, the New York Times takes on Rep. Dan Boren, the sole Democrat in Oklahoma’s congressional delegation. He co-chairs the House Natural Gas Caucus and serves as a member of the House Natural Resources Committee. As a representative of the #3 gas-producing state, it’s not surprising that his voting record is decidedly | Read More »
M. King Hubbert is the father of Peak Oil theory. In a 1956, he paper correctly called the timing of the peak in U.S. crude oil production in the early 1970s. Neo-Malthusians and Progressives make sure you know about Hubbert’s pessimistic outlook for conventional crude oil. They made Hubbert a household name, the only oil technologist whose name they use without adding “sellout” or “whore”. | Read More »
I know a little about the costs of construction and maintenance of oil and gas platforms in a marine environment. I always wondered why it would be cheaper to install and maintain a windmill offshore. Now I have my answer: it isn’t. Surprise, surprise. Dutch fall out of love with windmills Arguments over the high cost and maintenance of sea-based turbines, as well as complaints | Read More »
One of the reasons we’re supposed to be wary of the Keystone XL Pipeline is its alleged threat to the Ogallala Aquifer, the water source for much of the Great Plains. From Wikipedia: The depth of the water below the surface of the land ranges from almost 400 feet (122 m) in parts of the north [e.g., Nebraska – Ed.] to between 100 to 200 | Read More »
The habitual self-loathing of the American Left is perhaps its most endearing quality. Most of us remember actress Julia Louis-Dreyfus from her lead role in the late, lamented CBS sitcom Watching Ellie. Now she’s an expert on energy, international economy, and the environment. Here’s a video in which she expresses her opposition to the Keystone XL Pipeline: “Who can stop this mega-stupid mega-pipeline? You | Read More »
Last week, we heard about the Fisker Karma, the new electric vehicle being built in Finland using a $529 million loan from U.S. taxpayers. Beneficiaries of this deal include one Albert Gore, partner in the “green” venture capital firm Kleiner Perkins Caufield & Byers. Now Forbes contributor Warren Meyer weighs in with an analysis of the Karma’s true energy | Read More »
The New York Times descends even deeper into self-parody with its ongoing crusade against natural gas development. Thursday’s installment: Rush to Drill for Natural Gas Creates Conflicts With Mortgages It seems that some mortgage lenders are beginning to balk at lending money secured by real estate if said real estate is under development for natural gas. A credit union in upstate New York has started | Read More »