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Oil rises, natural gas soars

monetary growth

NEW YORK — The price of oil rose 1 percent Thursday as stockpiles declined and new indications that demand is rising in the U.S., the world’s largest crude consumer. The price of natural gas soared nearly 5 percent to close at $4.46 per thousand cubic feet — the highest price since July of 2011 — after the government reported a huge ...

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Footprint lauds plant ruling

footprint power

SALEM — The Supreme Judicial Court appears poised to hear the Salem power plant case in March, which is later than the plant’s developer wanted but sooner than many expected. In a two-page filing yesterday, Associate Justice Barbara Lenk referred the case to the full court and scheduled dates in January and February for the two sides to file briefs. ...

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United against fracking?

No fracking way!

By John Bestoloffe | Marcellus.com Across the country there is a trend of communities placing bans on Hydraulic Fracturing or “fracking.”  These bans are spreading like wildfire. However, many of the bans protect individual cities or counties so there is in effect a quilt pattern being created of areas that are available for drilling and areas that are not. Individual ...

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Crude market update

crude inventories

Oil numbers up, Gas numbers down Last week’s energy reports sound more like “The Tale of Two Extremes”.  Traders were expecting another drop in crude oil production of -2.5 million barrels but most were surprised to see the actual number at -10.59 million barrels. Alternatively, weekly gas inventories told a different story with an increase in excess of more than ...

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Ethanol plant a go: Work to start in January

biofuel

Work will begin on the Dakota Spirit AgEnergy ethanol plant sometime in January, according to information released by the company Thursday. DSA is a planned 65-million-gallon per year renewable fuel plant owned by Great River Energy at Spiritwood. When fully operational, the plant will purchase about 23 million bushels of corn. Along with ethanol, the plant will produce fuel-grade corn ...

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Senate bill follows Goodlatte’s recommendations

corn

Democrats and Republicans in both the U.S. House and Senate have put forth bills that would eliminate the Renewable Fuel Standard. The latest effort came on Thursday, as Senators Dianne Feinstein and Tom Coburn introduced the Corn Ethanol Mandate Elimination Act. The bill comes a week after Rep. Bob Goodlatte testified in hearings set up by the Environmental Protection Agency, ...

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Exxon Mobil: Decades of life left in fossil fuels

fossil fuel

WASHINGTON — Oil and natural gas will provide the bulk of the energy needed to fuel the world by 2040, with most of it coming from North America, Russia and the Middle East, Exxon Mobil Corp. predicted Thursday. According to the latest version of the company’s annual long-term outlook, the two fossil fuels will reign supreme in three decades, with ...

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Erie County Legislature votes 9-2 to ban fracking on county-owned property

forest depths

The Erie County Legislature Thursday voted 9-2 to approve a local law banning hydraulic fracturing on county-owned property. The law also prohibits introducing drilling waste into any county-owned facility such as a wastewater treatment plant and outlaws spreading of fracking byproducts on county roads. About 50 proponents of the ban who attended the Legislature’s session wearing “no fracking” buttons and ...

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Delta expects refinery to make money next year

delta

Delta Air Lines, which bought the former ConocoPhillips refinery in Trainer, Delaware County, to secure a steady source of discounted jet fuel, said Wednesday the refinery lost $100,000 in 2013, but is expected to be profitable next year. Although some analysts had expressed skepticism about an airline diversifying into oil refining, a capital-intensive business with low margins, Delta president Edward ...

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Township inks lease with Range Resources

agreement

HANOVER TWP. — Supervisors approved a five-year leasing agreement Monday for the natural gas rights beneath 51 acres of Hanover Township-owned property that will bring in at least $127,500 for the township. “If they ever drill, the money will allow us to take care of a lot of expenses,” Supervisor Samuel Minich said. The lease is with Range Resources, a ...

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