The U.S. Energy Information Administration (EIA) has predicted that natural gas production in the US will continue to grow at an impressive pace. Right now output is close to 70 billion cubic feet a day and is expected to reach over 100 billion cubic feet per day by 2040. The trend is likely to continue without hitting a geologic (more…)
U.S. trains spilled 1.15 million gallons of crude oil in 2013 — more than was spilled in the nearly 40 years since officials began tracking such accidents, federal data show. The majority of that volume came from two major derailments: a November incident in Alabama that spilled 750,000 gallons and a December incident in North Dakota that officials (more…)
Picture yourself back in 1995 for a moment. Besides questionable music and fashion choices, we were at the start of some troubling trends in energy. The fuel economy of our cars and trucks had flatlined for five years, and they would stay that way for another 15. We were producing less and less of our own fuel at home, and biofuels were barely on the map, let alone (more…)
Canada’s natural resources minister told delegates at the International Energy Forum in Kuwait that his country was on the cusp of becoming an “energy superpower.” Canada ranks No. 6 in terms of global oil production, but much of its crude exists in the form of oil sands. European leaders are considering a measure that would classify oil sands as an (more…)
On April 23, 2008, when the U.S. was on the verge of a record-high gas price of $4.11 per gallon, the average retail price at the pump was $3.60 per gallon. Three years later, the average retail gasoline price is already $3.86 per gallon, according to AAA, and we are still several weeks, if not months, away from the historical gas price peak, which usually hits around Memorial (more…)
Almost all oil production on Alaska’s North Slope remains shut down after workers on the Trans-Alaska Pipeline system discovered a leak over the weekend. BP, the pipeline company’s largest single owner, has called it a “significant event.”
BP is no stranger to pipeline problems in Alaska. We recently reported that a BP (more…)
The International Energy Agency says that the world has already reached its peak oil production, a surprising conclusion that could have significant effects on future oil prices. In its annual report, the group suggests that production rates likely topped out at about 70 million barrels a day in 2006. Two years ago, the group projected that conventional oil production would likely (more…)
If I were the new CEO of Chevron, I would stop listening to the lawyers and bring the engineers into the boardroom to develop a strategy to invest a good portion of last year’s record $24 billion profit into inventing solutions to the adverse environmental and social impacts of the company’s operations around the globe.
It is clear that Chevron’s historical reliance upon litigation to get what it wants is being eclipsed by new activist strategies that have effectively boxed Chevron into a corner.