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It appear that the price of Natural Gas is about to GO UP!! Why, really?:nuts: Environmental Price Adjustment.
API: Proposed EPA Emission Rules Will Reduce Shale Gas Drilling
by Karen Boman
|
Rigzone Staff
|
Thursday, March 15, 2012


Proposed regulations by the U.S. Environmental Protection Agency (EPA) to reduce air emissions from hydraulic fracturing operations would drastically reduce shale gas drilling by 31 percent to 52 percent, or 12,700 to 21,400 wells, over the 2012 to 2015 time period, according to a study by the American Petroleum Institute (API).
The API study also found that:

  • 5.8 to 7.0 quadrillion Btu (Quads) of otherwise economic unconventional natural gas would not be developed and produced by 2015, a 9 percent to 11 percent reduction
  • 1.8 billion barrels of otherwise economic unconventional liquids would not be developed and produced by 2015, a 21 percent to 37 percent reduction
  • federal royalties of $7 billion to $8.5 billion that would otherwise be collected would not be paid in the first four years after the requirements go into effect
  • state revenues from severance taxes amounting to $1.9 billion to $2.3 billion would be delayed beyond the first four years after the requirements go into effect.

RIGZONE - API: Proposed EPA Emission Rules Will Reduce Shale Gas Drilling
 
DRILLDRILLBABYDRILL!
Pioneer Bets On West Texas Shale Oil To Rival Bakken
by MARILYN ALVA
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Investor's Business Daily
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Thursday, March 15, 2012
U.S. oil production is enjoying a renaissance, thanks to new technology that has made oil recovery possible in tight shale rock.
The busy Bakken formation in North Dakota and Montana is the largest and best-known oil shale play.
The Eagle Ford in South Texas and the Barnett "combo play" (gas and oil) in North Texas are also fairly famous unconventional plays.
But the Wolfcamp Shale?
"Over the next two or three years, everybody is going to be making a beeline to the Wolfcamp," said Scott Sheffield, chief executive of Pioneer Natural Resources.
Spanning numerous counties across West Texas, the Wolfcamp formation is located below the long-plied Spraberry field, which helped make Midland, Texas, oil-central starting in the early 1950 s.
Its location in the Midland Basin is within the larger Permian Basin.
Sheffield and other oil experts say the Wolfcamp is probably the thickest of any onshore U.S. oil shale play, with up to 1,000 feet of potential payout across hundreds of thousands of acres.
Biggest And Thickest
RIGZONE - Pioneer Bets On West Texas Shale Oil To Rival Bakken
 
That Brent Crude is just too expensive. USA Oil is what they need!
As gas prices rise, no relief in sight at pump

Published March 17, 2012
| The Wall Street Journa

US. gasoline jumped 6% in February, and market experts predict they will climb higher because critical refining operations in the Northeast are shutting down.
From New York to Philadelphia, refineries that turn oil into gasoline have been idled or shut permanently because their owners are losing money on them. Sunoco Inc. is expected to close the region's largest refinery in July, taking another 335,000 barrels per day in production capacity off the market.

Read more: As Gas Prices Rise, No Relief In Sight At Pump | Fox News
 
Oil Higher On the Day, Flat for the Week
by Trey Cowan
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Rigzone Staff
|
Friday, March 16, 2012


Tailwinds like a weaker U.S. dollar and CPI growth that was not higher than anticipated (a sign that U.S. inflation remains tame) both helped push crude prices higher Friday.
While WTI crude advanced more than 1 percent on Friday, Brent showed an even more forceful surge of over 2 percent.
RIGZONE - Oil Higher On the Day, Flat for the Week

 
nnuut said:
Maybe I'll try Algae next time.:laugh:
Click to expand...

Well, you asked for it this time.
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That's pure electric baby....
 
Gasoline back up to $3.95 a gallon. It was as low as $3.61/gallon. On the way home from work this afternoon two gas stations (Shell & BP) right across from each other were 28 cents a gallon different. Shell was 3.67/gallon and BP was $3.95.
 
What Are We Going to Do With All This Gas?
by Karen Boman
|
Rigzone Staff
|
Monday, March 19, 2012
Now that we know we can successfully produce gas from U.S. shale gas plays, the question remains: What do we do with all this supply?
Price differentials between the low U.S. natural gas prices versus diesel, gasoline and propane are providing incentives for fuel-switching in other demand areas aside from the electric power and industrial sectors, and the abundance of U.S. natural gas has prompted some oil and gas companies to find new ways to use gas.
The U.S. trucking sector offers the greatest opportunity for gas to substitute transportation fuels. Prior to the economic downturn, approximately 65 billion gallons a year were consumed by diesel vehicles; two thirds of the vehicle segment is comprised of large semi tractor trailers, said David Schultz, vice president of fuels at Pivotal LNG, a subsidiary of Atlanta-based AGL Resources. Through Pivotal, AGL is positioning itself using its existing gas liquefaction capacity to capture the growing market opportunities for switching to gas from other fuel options.
Click to expand...
RIGZONE - What Are We Going to Do With All This Gas?
 
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