Category: Big Oil

By on June 2, 2021

On Tuesday, the Biden administration announced it would be suspending oil and gas leases issued in Alaska’s Arctic National Wildlife Refuge during the last days of the Trump administration. Bent on maintaining the United State’s energy independence, Donald Trump had moved to expand fossil fuel development in ways that would have been at odds with predecessor Barack Obama. But today’s White House represents a return to form, with an interest in supplanting traditional energy concerns with what it believes will be greener alternatives.

It’s bad news for the Alaskan state government, which had hoped to devote a subset of the region to rebuilding its oil industry by taking advantage of its vast reserves. But environmentalists and a subset of tribal representatives have praised the decision to prohibit development on protected lands. We expect consumers will have conflicting opinions, based largely upon how much they’re willing to pay at the pumpRead More >

By on May 11, 2021

With the Colonial Pipeline shut down due to last week’s ransom hacking, the Eastern United States has found itself running out of fuel. The line was shut down on Friday as a precaution and we’ve since learned that it’s not going to be reopened until this weekend — and maybe not even then.

While this has left some of us with fuel prices creeping aggressively toward $3 per gallon, other parts of the East Coast have seen panic buying and legitimate outages. But it’s hardly surprising when you consider the Colonial Pipeline is the country’s largest. Turning off the tap has ramifications and they’re manifesting all across the coast, though the situation appears to be substantially worse in southern states.  Read More >

By on May 3, 2021

As if you needed more doom and gloom to kick off this week, the National Tank Truck Carriers (NTTC) lobby has confessed that its fleet will go into the next few months operating well below capacity. That means there’s a very good chance that some parts of the country could see gas shortages over the summer. While we’re praying that this doesn’t come with with the deluge of less-than-desirable automobiles that followed the infamous 1973 oil crisis, a similar spike in fuel price is likely as gasoline becomes sporadically difficult to find.

With the United States technically still energy independent, the culprit is not a foreign oil embargo but our own inability to plan ahead. North America was already operating with a deficit of qualified tanker drivers ahead of the pandemic. Lockdowns suppressed demand as everyone was forced to remain immobile, suppressing demand that ultimately encouraged widespread layoffs and early retirement. Now there aren’t enough drivers as demand stabilizes.  Read More >

By on April 26, 2021

climate

The world’s climate has been centerstage the last two days. President Biden and other world leaders have vowed to reduce global warming by making drastic changes. Will they follow through?

At the 2015 Paris climate accord, then-President Obama set greenhouse gas reduction at half what Biden has proposed. Former President Trump, Obama’s successor, did little to forward this, but is it realistic for Biden, who served as Obama’s vice president,  to double down on Obama’s goal in a relatively short time frame?

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By on April 22, 2021

Shutterstock

Today President Joe Biden committed to cutting U.S. fossil fuel emissions up to 52 percent by 2030. His statement came during a virtual climate change summit with 40 world leaders.

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By on March 19, 2021

 

Oil

Oil 2021, an analysis by the International Energy Agency (IEA), explains why the pandemic caused the collapse in demand for oil in 2020, and why it may never return to ‘normal’.

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By on December 7, 2020

Environmental activist Jamie Henn, and his firm, Fossil Free Media, are attacking advertising and PR agencies that work on oil industry accounts. Their initiative, Clean Creatives, is designed to shame some of the world’s largest PR and ad agencies in hopes that they will resign.

“We want to get PR and ad agencies to stop working with the oil industry because they are spreading misinformation about climate change and lobbying action to address the crisis,” said Henn. “Our reliance on fossil fuels is driving global warming which will have serious impacts on our environment, health, and economy.”

Read More >

By on August 17, 2020

Ever since the first major oil fields were discovered at the start of the 20th century, the world has been on a never-ending hunt to see where else black gold might be hiding. Monetizing seepage areas goes back even further. But with global oil demand having dissipated on account of the pandemic, there’s little reason to spend cash on additional procurement.

Combine that with the green movement doing everything it can to convince governments there’s only one ethical way to handle energy, and we’re likely to be moving into an era where fossil fuels sell for less but cost more to harvest/utilize thanks to carbon emission regulations.

This has left oil companies pondering the true value of seeking new sources of oil, with some having already decided there’s no point. Read More >

By on April 7, 2020

The world’s largest oil producers are meeting this week for negotiations aimed at saving the energy sector a lot of hardship further down the road. That includes the Organization of the Petroleum Exporting Countries (OPEC), which has been at odds with itself more than usual of late. Hampered by dwindling demand, member countries are suffering and aren’t sure what’s to be done about last month’s price plunge and surplus of crude.

During the cartel’s last meeting, Russia declined to collaborate with OPEC’s planned production cuts. This sent Saudi Arabia into a furious tizzy; it quickly attempted to flood the market with bargain oil in an attempt to drive out lesser players. Like everything else, this was further complicated by the global pandemic. The coronavirus has suppressed oil use to a point where suppliers are growing concerned about storage capacity running out.  Read More >

By on March 10, 2020

With the coronavirus keeping people indoors and shale drilling keeping U.S. oil prices relatively stable, you’ve probably noticed gasoline bills being quite reasonable of late. Well, don’t get used to the sums you’re paying now, as analysts project fuel prices will drop even lower as 2020 progresses. While you might think this is due to national quarantines and lessened demand, you’d only be half right.

Last week, the Organization of the Petroleum Exporting Countries (OPEC) failed to strike a deal that would have enacted production cuts to better stabilize the market. Instead of slashing output, Saudi Arabia started slashing prices as it sought ways to ramp up production. Russia immediately responded by promising to increase its own output, leading to what looks like an all-out price war.  Read More >

By on March 14, 2018

fuel gauge

The Trump administration’s chief environmental regulator claims the Environmental Protection Agency will not pursue stricter fuel economy mandates after 2025. EPA Administrator Scott Pruitt also said California won’t call the shots for the rest of the country just because it can set its own rules on emissions.

“California is not the arbiter of these issues,” he said. Currently, California and 16 other states have pledged to maintain Obama-era emission when federal regulators decide to roll them back “but that shouldn’t and can’t dictate to the rest of the country what these levels are going to be,” according to Pruitt.

Stick that in your tailpipe, one-third of America.  Read More >

By on January 15, 2018

Achates Power Opposed Six image 1

Thus far, the North American International Auto Show has been a truck festival  – more specifically, a green-truck fest. Ram showed a hybrid 1500. Ford revealed their V6 diesel. Chevrolet surprised with an inline-six diesel. Clearly the Big Three are looking at the calendar, with a big red circle over the 2025 CAFE standards looming like a dark cloud.

Achates Power, a fourteen-year-old startup from San Diego, has a different idea. By combining a variety of existing technologies – some of which date from before World War Two – they have developed an engine that they expect to meet 2025 fuel economy standards, emissions standards, and most importantly, the performance standards of light-truck buyers.

How does 37 mpg sound in a half-ton truck? That’s on gasoline. The Achates engine can also manage 42 mpg in the same truck running on diesel.

Read More >

By on November 6, 2016

pumping fuel

America’s largest gasoline pipeline returned to operational status today after an explosion in Alabama six days ago killed one worker and injured five others.

Following repair delays caused by an interior fire, Colonial Pipeline Company announced that its Line 1 pipeline was restarted early Sunday morning. However, it will take several days for the fuel delivery supply chain to return to normal. The same goes for pump prices.

Read More >

By on September 13, 2016

pumping gas

Automakers can expect a favorable environment for lucrative truck and SUV sales well into next year, as the right conditions come together for a continued oil glut. That heralds lower prices at the pump, less painful driving, and less scrutiny of EPA mileage figures on Monroney stickers.

Oil supply and inventories are rising, even as demand falls off sharply, while overseas interests are conspiring to keep prices down — and in their favor. Read More >

By on August 25, 2016

1-Ethanol-Gas-006

A new study from the University of Michigan adds (bio)fuel to the growing backlash against supposedly clean and green fossil fuel substitutes.

The study claims that the environmental benefits of ethanol and biodiesel — championed by both the federal government and the lucrative biofuel industry — are based on completely false assumptions, the Detroit Free Press reports. Read More >

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