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Tag Archives: EIA

Alaska Gov. Walker to Obama: Help us put more oil in the pipeline

President Barack Obama is visiting Alaska next week, where he’s expected to argue climate change is an urgent problem that requires international action. The message he’ll hear from Gov. Bill Walker? Walker wants the federal government to help Alaska access more fossil fuels — consumption of which is widely viewed as one of the primary drivers of climate change. In ...

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Coal producers getting burned by switch to natural gas

The coal industry is in deep trouble, and Southern Company’s decision to buy an Atlanta natural gas utility puts it even deeper in the hole. For years, coal producers have been taking it on the chin as electric utilities have closed more and more coal-fired power plants and switched to cheaper, cleaner-burning natural gas. The situation was made worse when ...

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Silverton residents reconsider need for Superfund in light of spill

bills

SILVERTON, Colo. – Silverton Standard editor Mark Esper said he had just finished lunch on Aug. 5 when he heard an unusual call over the police scanner. “I hear Sheriff (Bruce) Conrad say on the scanner — ’20-foot wall of orange sludge coming toward Silverton,'” Esper said. A plume of toxic mine waste burst forth from Gold King Mine and rushed ...

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EIA lowers 2015, 2016 U.S. crude oil production forecasts

NEW YORK – The U.S. government on Tuesday lowered both its 2015 and 2016 U.S. crude oil production forecasts as a 60-percent rout in benchmark prices since last summer weighs on shale output. In its short term energy outlook, the U.S. Energy Information Administration lowered its 2015 U.S. crude oil production growth forecast to 650,000 barrels per day (bpd) from ...

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Gulf of Mexico dead zone 11th biggest, bigger than predicted

NEW ORLEANS — An area in the Gulf of Mexico with too little oxygen to keep sea creatures alive is the 11th largest measured and nearly 18 percent bigger than predicted earlier this year. It has gotten so big because heavy June rains throughout the Mississippi River watershed carried nutrient-rich runoff from farms and other human activities into the gulf, ...

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Brent inches up above $50 ahead of U.S. oil stocks data

SINGAPORE – Benchmark Brent crude oil prices inched up just above a key support level of $50 on Wednesday, recovering from multi-month lows, as investors await U.S. oil inventories data to gauge supply. Oil markets paused for a breather after prices tumbled about 20 percent in July because of a supply glut. OPEC continued to pump at record rates in ...

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U.S. oil storage becomes big business: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Commercial crude stocks across the United States rose by 105 million barrels early this year to peak at 490 million barrels, the highest level in eight decades. Despite some draw downs in recent weeks, which have reduced inventories to 460 million barrels, stocks are still ...

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EIA: U.S. crude stockpiles fall 4.2 mln barrels in latest week

NEW YORK – U.S. crude oil inventories declined far more than expected last week, while gasoline stocks decreased amid robust demand for the motor fuel, data from the Energy Information Administration (EIA) showed on Wednesday. Crude inventories fell 4.2 million barrels to 459.68 million in the week to July 24, more than twenty times analysts’ expectations for a decrease of ...

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Don’t worry, there’s enough natural gas to go around this winter

natural gas flame

No need to worry about natural gas this winter, for we will have plenty–if not record breaking levels–in storage. According to data provided by Bloomberg, by November 1st, the start of the new heating season, gas inventories could reach new highs.  As explained by Bloomberg, “If injections for the rest of this year track 2014 levels, storage may come close ...

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U.S. emergency oil reserve tempts Congress at the wrong time

WASHINGTON – U.S. lawmakers on both sides of the aisle figured this month they had hit on a clever way to fund everything from new drug programs to highway maintenance: sell off part of America’s strategic oil reserves, a supply cushion that no longer needs to be so large. The notion, embedded in a House of Representatives bill that passed ...

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