asterisk2a + gas   47

DAPL's Worst Nightmare: Big Oil EXPOSED By Whistleblower - YouTube
TYT Politics Reporter Jordan Chariton (https://twitter.com/JordanChariton) spoke with John Bolenbaugh, a whisteblower who exposed the oil industry's cover up of major oil spills throughout the United States. These spills have polluted water, giving fish and other animals tumors, as well as causing debilitating illnesses in human beings.
fracking  USA  shale  gas  oil  lobby  corruption 
november 2016 by asterisk2a
Families to be given £20k payouts for fracking - The Scotsman
[ limiting the payout to those affected! LOL! Capitalism at its purest. Is a mock-compromise. national resource. not a corporate resource. see also people in USA who sold off their land for just a one-off price. ] A £1 billion shale wealth fund is already setting aside up to 10 per cent of the tax proceeds from fracking and Mrs May said this can go straight to residents in communities affected across the UK. [...] The new fund is expected to deliver as much as £10 million to each community where wells are situated. Downing Street declined to estimate how much payouts could be worth, but it is thought individual households could receive between £5,000 and £20,000.
capitalism  crony  compromise  natural  resource  fracking  shale  gas  pollution  carbon  carbonfootprint  exploitation  profit  maximisation  shareholder  value  Canada  USA  Umweltschutz  depletion  Theresa  May 
august 2016 by asterisk2a
Gefahr durch Fracking: Das Dreckwasser von Wyoming
Das umstrittene Fracking kann das Trinkwasser belasten. Ein beharrlicher US-Forscher hat das jetzt für ein Dorf exemplarisch nachgewiesen - gegen viele Widerstände. [...] Fallstudie zu Pavillion. Sie legt nahe, dass das Grundwasser dort tatsächlich mit Fracking-Schadstoffen belastet ist. Und dass diese im Boden nach oben wandern. In Tiefen, die auch von Trinkwasserbrunnen erreicht werden. [...] Was den Forscher zusätzlich empört, ist einfach erklärt: Die US-Gesetzgebung erlaubt es, dass zur Öl- und Gasförderung Chemikalien notfalls auch in Grundwasserreservoire eingeleitet werden. "Ich kenne keine westliche Demokratie, wo so etwas möglich ist", klagt DiGiulio. Man könne doch nicht ernsthaft annehmen, das so etwas ohne Folgen für das Trinkwasser bleibe.
fracking  shale  gas  shale  oil  water  pollution  Aquifer  drinking  water  shareholder  capitalism  ecological  damage  ecological  disaster  environmental  damage  environmental  disaster  corporate  governance  profit  maximisation  shareholder  shareholder  value  Wall  Street  Trinkwasser  carcinogen  carcinogenic  EPA  Consumer  Protection  No  Representation  lobby  public  health  public  health  risk  public  safety  pollution  revolving  door  Career  Politicians  USA  tobacco  passive  smoking 
april 2016 by asterisk2a
Hinkley: Why do we need the new nuclear power station? - BBC News
[ strike price ] Why is a new nuclear power station at Hinkley Point running years behind schedule and the cause of seemingly endless debate? Here are some answers to the questions surrounding the world's most expensive power project. [ prob w renewables is energy storage systems and capacity! ] [...] However, the UK needs to build more power stations if it is to meet growing demand for electricity and the government wants to ensure consumers foot the bill no matter where the electricity comes from.
Hinkley  Point  C  white  elephant  nuclear  power  nuclear  waste  carbon  tax  renewable  energy  energy  policy  energy  price  competitiveness  industrial  policy  Manufacturing  foreign  direct  investment  energy  storage  energy  security  Tories  Amber  Rudd  David  Cameron  George  Osborne  underinvestment  Smart  Grid  UK  Politics  dogma  ideology  trickle-down  economics  free  market  neoliberalism  neoliberal  subsidies  subsidizing  solar  energy  wind  energy  gas  energy 
march 2016 by asterisk2a
Ineos warns Scotland will pass up the chance of an economic lifeline if fracking is banned (From Herald Scotland)
NICOLA Sturgeon has been warned against passing up a once-in-a-generation opportunity to revitalise the Scottish economy after she admitted she is “highly sceptical” about fracking. One of the country’s largest firms intervened after the First Minister revealed her personal view in a bid to counter claims that the SNP is preparing to give the controversial gas extraction method the green light after the Holyrood elections. Ineos, which owns the sprawling Grangemouth petrochemical plant and owns fracking exploration licences for large swathes of central Scotland, said it believed shale gas could become “another Scottish success story like the North Sea” and “pick up the slack” of declining offshore reserves.
fracking  shale  gas  shalegas  Scotland  environmental  disaster  ecological  disaster  carbon  tax  fossil  fuel  Petroleum  Industry 
march 2016 by asterisk2a
Britain heading for power cuts next winter, say 60 local authorities | Business | The Guardian
bit.ly/1TOwjhT &! A group representing 60 local authorities has warned that recent closures of large power stations have left Britain heading for power cuts next winter, despite assurances to the contrary from the government. [...] National Grid needed to act immediately to fill the supply gap by sending out new contracts for at least 2,500 megawatts (MW) of additional generating capacity – enough to power 2.5m homes. The alliance wants ministers to reconsider the level of carbon taxes, saying this is one of the key reasons why so many coal-fired power stations are being shut down early. [...] In recent years, coal, nuclear and gas-fired plants have been shut because of low prices, high operating costs or old age. Windfarms have been erected and new nuclear facilities promised but energy companies say gas plants cannot be built without higher subsidies. //&! bit.ly/1MpvhlE - UK doesn not meet 15% of EU renewables target, but cuts subsidies for renewables, duh! &! bit.ly/1sL8Kty
carbon  tax  renewable  energy  Smart  Grid  energy  storage  energy  price  energy  policy  energy  security  UK  competitiveness  austerity  solar  energy  wind  energy  subsidies  subsidizing  corporate  welfare  fossil  fuel  Petroleum  Industry  gas  power  industrial  policy  policy  folly  policy  error  underinvestment  George  Osborne  Amber  Rudd  David  Cameron  Tories  short-termism  Hinkley  Point  C  nuclear  power  nuclear  waste  nasty  party  Generationengerechtigkeit  fairness  babyboomers  dogma  ideology  trickle-down  economics  free  market  neoliberalism  neoliberal  coal  power 
february 2016 by asterisk2a
Another Look At The Perilous Price Of American Energy by Reveal
fossil fuel companies lobbied themselves out of workers comp when accidents happen. + care about speed over safety. + contract out work. oil companies often don't have own employees on-site. energy companies duck responsibilities when things go wrong. can distance themselves when things go wrong. [...] [legal sleaze] big companies roll off part liabilities (claims) through contractors insurance. [...] bonuses to drill quickly.
Keystone  Pipeline  USA  fracking  Canada  tarsand  fossil  fuel  shale  gas  shalegas  self-regulation  lobbyist  lobby  Lobbying  Workers  Union  Trade  Union  profit  maximisation  shareholder  value  regulation  regulators  ecological  disaster  environmental  disaster  carbon  tax  DeepwaterHorizon 
february 2016 by asterisk2a
IEA warns consumers of spike in oil prices - BBC News
[ Saudie's playing game of who has the deepest pockets against USA and Canada ] The International Energy Agency (IEA) is warning consumers not to let cheap oil lull them into a false sense of security amid forecasts of a price spike by 2021. In a report, the IEA said it expects prices to start recovering in 2017. But it forecasts that will be followed by a sharp jump in price as supply shrinks following under-investment by struggling producers.
OPEC  shale  gas  fracking  Saudi  Arabia  aggregate  demand  BRIC  China  credit  bubble  commodity  prices  secular  stagnation  Russia  Middle  East  Iran  Iraq  Oil  price  petrodollar  petrodollars  Petroleum  Industry  fossil  fuel  underinvestment 
february 2016 by asterisk2a
Koch Brothers Declare War On Electric Cars - YouTube
introduce a carbon tax, rather than cherry picking! // who is also invested in their "ventures"? Arabs! See also Fahrenheit 9/11 documentary by Michael Moore. //&! Koch Bros Behind Solar Power Fines - youtu.be/E3SDcOZLksk --- ALEC lobby group. //&! Koch Bros Slammed By Billionaire T. Boone Pickens - youtu.be/65Y1RWDdQBI //&! Koch Brothers Caught On Tape - Obama & Osama Compared - youtu.be/hTUjYyae2zw //&! Koch Brothers Destroyed By Bloomberg Report - youtu.be/ENuN2R0je0k //&! Letters Expose Agenda Of Billionaire Koch Brothers - youtu.be/1JdhyI8mmqY //&! Koch Bros Tried To Shut Up Maddow, Bad Idea - youtu.be/J4XQO6bH7_k //&! Zach Galifianakis Slams Koch Brothers - youtu.be/fW96KEbeGTw //&! Koch Brothers EXPOSED: 2014 (ft. Bernie Sanders) - youtu.be/2N8y2SVerW8 //&!
fossil  fuel  vested  interest  interest  groups  carbon  tax  electric  car  Tesla  Motors  renewable  energy  solar  energy  wind  energy  subsidies  subsidizing  COP21  plutocracy  Greed  oligarchy  Super  Rich  1%  revolving  door  lobbyist  lobby  Lobbying  Koch  Brothers  Career  Politicians  Super  PAC  presidential  election  2016  climate  change  Generationengerechtigkeit  global  warming  climate  crisis  economic  damage  Wall  Street  shareholder  value  profit  maximisation  tax  evasion  tax  avoidance  corporate  welfare  pork  barrel  corporate  scandal  Oil  price  commodity  prices  budget  deficit  industrial  policy  competitiveness  competitive  crony  capitalism  history  Saudi  Arabia  petrodollar  Petroleum  Industry  petrodollars  Middle  East  gwbush  bush  georgewbush  fracking  shale  gas  SolarCity  Panel  ALEC  bribery  corruption  antitrust  far-right  free  market  neoconservatism  neoconservatives  neoliberalism  neoliberal 
february 2016 by asterisk2a
Obama climate initiative: Supreme Court calls halt - BBC News
this is akin to taking plaster to fix a crumbling high rise: limiting the emissions and putting cost on emissions for one industry, seen as heavies polluter in public eye ... while livestock industry is biggest +50% of them all. // what is needed is a carbon tax that also includes environmental and ecological cost (ie deforestation, water pollution from pig waste - livestock farming) and if we are already there, what about antibiotic-resistance? A Marschall Plan for the future of earth and its occupants. A future for us. // If and import doesn't have a carbon tax, tariffs have to be enacted on imports based on their damage to environment, ecology and carbon emissions. ... // economic damage & public health problems and health inequality in the future is deferred taxation for the next generation // Obama isn't bold enough. Not Utopian enough.
livestock  farming  coal  power  gas  shale  gas  fracking  carbon  tax  COP21  self-regulation  antibiotic  resistance  antibiotics  post-antibiotic  era  public  transportation  gasoline  Petroleum  Industry  fossil  fuel  zombie  consumer  consumerism  materialism  Wegwerfgesellschaft  Generationengerechtigkeit  climate  crisis  climate  change  climate  science  climate  system  extreme  weather  weather  extreme  economic  damage  coastal  erosion  public  health  policy  public  health  air  pollution  public  safety  water  pollution  pollution  ecological  disaster  environmental  disaster  ocean  warming  acidification  Overfishing  Meat  Industry  food  global  warming  exploitation  Wall  Street  profit  maximisation  shareholder  value  oversight  revolving  door  lobbyist  lobby  Lobbying  accountability  food  poisoning  food  borne  illness  presidency  barackobama  economic  history  history 
february 2016 by asterisk2a
Erdgas: So will Europa unabhängig von Putins Russland werden - SPIEGEL ONLINE
Ähnlich frei wie Litauen soll sich bald ganz Europa fühlen. Derzeit sind viele EU-Mitgliedstaaten noch stark von den russischen Lieferungen abhängig. Mit einem Marktanteil von rund 40 Prozent ist Russland noch immer der mit Abstand größte Gaslieferant der EU. Doch nun hat die EU-Kommission nach Informationen von SPIEGEL ONLINE zentrale Infrastrukturprojekte definiert, durch die bald jeder EU-Staat sein Gas aus mehreren Ländern beziehen können soll. [...] Modellrechnungen zeigten, dass die angestrebten Projekte "echte Gassicherheit und Wettbewerb" in den gesamten EU-Markt brächten, heißt es in dem Entwurf aus Brüssel. Die Projekte sollen deshalb über EU-Mittel gefördert werden. Zwischenstaatliche Energieabkommen und selbst Lieferverträge einzelner Unternehmen [ strike price ] will die Kommission künftig vorab prüfen. [...] Nordstream-Pipeline
energy  security  energy  price  Smart  Grid  renewable  energy  EEG  Umlage  shale  gas  gas  Russia  Oil  price  fracking  energy  storage  infrastructure  investment  nuclear  power  strike  price  Germany  foreign  policy  sanctions 
february 2016 by asterisk2a
BP makes record loss and axes 7,000 jobs | Business | The Guardian
£6bn wiped off stock market value of oil company as investors react to losses and increasing Deepwater Horizon liablities [...] In the meantime the company plans to divest up to $8bn of assets over the next two years and cut 4,000 jobs from its exploration arm and 3,000 from “downstream” refining. Many of the exploration posts will be in Houston but some could also be in Aberdeen. [...] “No one is making money (in the key North American market) at $30 per barrel oil and every oil company is taking as many writedowns as they can. These are largely paper losses and its an absolute over-reaction to mark down BP shares by 9%.”
Oil  price  commodity  prices  fracking  shale  gas  USA  OPEC 
february 2016 by asterisk2a
No, Goldman Is Not Calling For An "Oil Bull Market": Here Is What It Really Said And Why It's Bad News For Banks | Zero Hedge
And herein lies the rub, because the more energy suppliers go into bankruptcy to remove the excess supply which is the critical condition of Goldman's upside case, the greater the shock will be among the banking system which is clearly underreserved for a mass default wave. To wit, just moments ago Wells admitted that it is among the most exposed banks to the energy sector: WELLS FARGO HAS $17 BIL OF OUTSTANDING ENERGY LOANS: CFO
Oil  price  NPL  shale  gas  fracking  USA  OPEC  commodity  prices 
january 2016 by asterisk2a
"Markets Crash When They're Oversold" | Zero Hedge
Technology Destroying Jobs + While the big driver of the decline in economic growth since the 1980’s has been a structural change from a manufacturing based economy (high multiplier effect) to a service based one (low multiplier effect), it has been exacerbated by the increase in household debt to offset the reduction in wage growth to maintain the standard of living. This is shown clearly in the chart below. [...] In fact, each job created in energy-related areas has had a “ripple effect” of creating 2.8 jobs elsewhere in the economy from piping to coatings, trucking and transportation, restaurants and retail. Simply put, lower oil and gasoline prices may have a bigger detraction on the economy than the “savings” provided to consumers.
Oil  price  shale  gas  fracking  job  creation  USA  2016  Service  Sector  Jobs  Manufacturing  globalization  globalisation  neoliberalism  neoliberal  borderless  flat  world  economic  history  UK  low  income  wage  stagnation  wage  growth  income  growth  disposable  income  discretionary  spending  consumer  debt  squeezed  middle  class  household  debt  property  bubble  working  poor  precarious  work  Precariat  job  security  job  market  jobcreation  job-creation  recovery  GFC  dogma  ideology  austerity  tax  evasion  tax  avoidance  corporate  welfare  subsidies  subsidizing  lobbyist  lobby  Lobbying  trade  agreement  TPP  TTIP  NAFTA  CETA  European  Union  sovereign  debt  crisis  credit  bubble  China  BRIC  structural  imbalance  global  imbalances  faultlines  2015  presidency  barackobama  ZIRP  NIRP  QE  George  Osborne  private  debt  debtoverhang  debt  servitude  student  loan  debt  student  loan  student  debt  credit  card  debt  car  loan  liquidity  trap  Richard  Koo  balance  sheet  recession  deleveraging 
january 2016 by asterisk2a
BHP Billiton writes down $7.2bn of shale assets - BBC News
BHP Billiton has written down the value of its US shale assets by $7.2bn (£5bn) as a result of the dive in oil prices.
Oil  price  OPEC  shale  gas  fracking  commodity  prices 
january 2016 by asterisk2a
California state of emergency over methane leak - BBC News
[ saving $ on maintenance by corporate ] the well now accounts for about a quarter of the state's total emissions of methane - an extremely potent greenhouse gas. The well is situated in a mountainous area more than a mile away from residential areas, but residents have complained of health effects like headaches, nausea, vomiting and trouble breathing. "Let's call it an environmental and public health catastrophe," Tim O'Connor, a lawyer with the Environmental Defense Fund, told the BBC's environment correspondent, Matt McGrath. "In terms of timelines this is going to surpass the gulf oil problem by a mile. What we do know is that that climate equivalent of this leak is like burning thus far almost 700 million gallons of gasoline or it's the same amount of pollution as 4.5 million cars put out every day, it's tragic." [...] The BBC's Matt McGrath says the large amounts of powerful gas that are leaking could have a significant impact on climate change. &! bit.ly/1mJNW5m
methane  ecological  disaster  environmental  disaster  gas  leak  corporate  scandal  fossil  fuel 
january 2016 by asterisk2a
RWE: Aufsichtsrat gibt grünes Licht für Aufspaltung - SPIEGEL ONLINE
RWE macht einen radikalen Schnitt: Vorstandschef Terium bündelt die zukunftsfähigen Geschäftsfelder in einer Tochtergesellschaft und will diese an die Börse bringen. Nun hat der Aufsichtsrat den Plänen zugestimmt.
renewable  energy  fossil  fuel  RWE  conglomerate  Wall  Street  profit  maximisation  shareholder  value  nuclear  power  coal  Smart  Grid  capitalism  green  energy  gas  energy  policy  Germany  European  Union 
december 2015 by asterisk2a
Texas Fracking Zone Emits 90% More Methane Than EPA Estimated | twice as much as estimated by the Environmental Protection Agency's Greenhouse Gas Inventory, and 5.5 times the number from a separate global database. : science
Texan here. I can say it is getting pretty noticeable in some parts. The I-20 between Pecos and Abilene reeks of gas now. I've lived in Texas for over 20 years and this is the worst it's been. At one point, I had to turn the air off in my car just so the stench would stop flowing in (even the air filter did little to help). But in a bit of uplifting news, Sweetwater, also on the I-20, has installed a ton of wind turbines. So it's good to see that the move the green energy is being made in the state.
methane  fossil  fuel  fracking  oversight  self-regulation  regulation  regulators  accountability  air  pollution  Wall  Street  crony  capitalism  capitalism  profit  maximisation  shareholder  value  EPA  carbonfootprint  carbon  tax  carbon  trading  scheme  carbonemission  shale  gas  shalegas  Career  Politicians  revolving  door  No  Representation  energy  policy  energy  price  Makers  lobbyist  lobby  Lobbying  ecological  disaster  environmental  disaster  pollution  water  pollution 
december 2015 by asterisk2a
The "Great Accumulation" Is Over: The Biggest Risk Facing The World's Central Banks Has Arrived | Zero Hedge
PBoC’s rapid liquidation of USTs over the past two weeks has added fuel to the fire and effectively boxed the Fed in. On Tuesday, Deutsche Bank is out extending their "quantitative tightening" (QT) analysis with a look at whats ahead now that the so-called "Great Accumulation" is over.  "Following two decades of unremitting growth, we expect global central bank reserves to at best stabilize but more likely to continue to decline in coming years," [...] Less reserve accumulation should put secular upward pressure on both global fixed income yields & USD. [If the shadow actor in Belgium doesnt buy it up @rate everyone else is selling (divesting) ] [...] The current secular shift in reserve manager behaviour represents the equivalent to Quantitative Tightening, or QT. This force is likely to be a persistent headwind towards developed market central banks’ exit from unconventional policy in coming years, representing an additional source of uncertainty in the global economy. ...
bond  bubble  treasuries  Treasury  Market  liquidity  trap  liquidity  squeeze  China  FX  reserves  centralbanks  reserves  USD  Dollar  QE  ZIRP  NIRP  petrodollar  2015  Yuan  RMB  devaluation  global  trade  global  economy  global  imbalances  global  growth  faultlines  OPEC  Oil  price  Asia  emerging  PBOC  Russia  shale  gas  fracking  tarsand  Canada  USA  Taper  Fed  credit  bubble  reflate  reflation  GFC  recovery  monetary  system  financial  monetary  theory  monetary  policy  monetary  stimulus  unconventional  monetary  policy  Saudi  Arabia  UAE  Iran  commodity  prices  Quantitative  Tightening  QT  2016  New  Normal  uncertainty  BOE  IMF  SDR  reserve  currency 
september 2015 by asterisk2a
Why It Really All Comes Down To The Death Of The Petrodollar | Zero Hedge
What might not be as clear (on the surface anyway) is how recent events in developing economy FX markets following the devaluation of the yuan stem from a seismic shift we began discussing late last year - namely, the death of the petrodollar system which has served to underwrite decades of dollar dominance and was, until recently, a fixture of the post-war global economic order. In short, the world seems to have underestimated how structurally important collapsing crude prices are to global finance. For years, producers funnelled their dollar proceeds into USD assets providing a perpetual source of liquidity, boosting the financial strength of the reserve currency, leading to even higher asset prices and even more USD-denominated purchases, and so forth, in a virtuous loop. [...] For the first time in decades, exported petrodollar capital turned negative. [...] the world is now beginning to feel the impact of the petrodollar's quiet demise. // &! Follow-on! bit.ly/1IGh4O3
petrodollar  OPEC  centralbanks  reserves  USD  Dollar  2015  Oil  price  FX  reserves  China  Asia  emerging  market  global  trade  global  economy  global  imbalances  Yuan  RMB  devaluation  PBOC  Russia  shale  gas  fracking  tarsand  Canada  USA  Taper  Fed  credit  bubble  QE  ZIRP  NIRP  reflate  reflation  GFC  recovery  monetary  system  financial  market  monetary  theory  monetary  policy  monetary  stimulus  unconventional  monetary  policy  Saudi  Arabia  UAE  Iran  commodity  prices  liquidity  trap  liquidity  squeeze  treasuries  Treasury  bond  bubble  faultlines  IMF  SDR  reserve  currency 
september 2015 by asterisk2a
Frankreich verliert Status als Deutschlands wichtigstes Exportland - SPIEGEL ONLINE
IMF rechnet für 2015 mit einem Anstieg des BIP US um 2,5 Prozent und für 2016 mit 3 Prozent. "Wir sehen zudem eine Reindustrialisierung in den USA: Dort werden wegen der niedrigen Energiekosten viele neue Fabriken und Produktionsstätten hochgezogen", sagte Treier. "Dafür werden Maschinen und Ausrüstungen aus deutscher Produktion benötigt." Hilfreich sei zudem der schwächelnde Euro, [...] "Die Amerikaner sind relativ preissensible Käufer, auch wenn es um Luxusprodukte wie deutsche Autos geht", // Germany & UK are energy dependent, especially after Desert Storm Energy project failed. UK need the bet on STEM and digital economy and knowledge economy, added value services that can be exported & leverage "British" brand. It can not compete against cheap energy fuelled China and USA! But it did nothing, UK has to even import Nurses and Doctors now! Thanks to short-sighted ideological dogmatic austerity & policy for established businesses. low corp tax & deregulation to compete w price only.
USA  warrenbuffet  2015  fracking  energy  price  Oil  price  energy  policy  shale  gas  shalegas  tarsand  Canada  Exportweltmeister  China  global  trade  Europe  Germany  industrial  policy  UK  global  economy  recovery  Makers  Career  Politicians  competitive  advantage  competitive  competitiveness  competition  energy  dependence  Manufacturing  policy  error  policy  folly  renewable  energy  wind  energy  energy  efficiency  Conservative  Party  budget2015  Tories  austerity  corporate  tax  rate  capital  gains  tax  income  tax  tax  free  income  David  Cameron  George  Osborne  Iain  Duncan  Smith  deregulation  Workers  Union  self-regulation  regulation  regulators  neoliberalism  neoliberal  differentiate  differentiation  ZIRP  NIRP  QE  digital  economy  economic  history  trickle-down  economics  tax  evasion  tax  avoidance  export  exports  current  account  deficit  budget  deficit  trade  deficit  fiscal  deficit  fiscal  policy  fiscal  stimulus  STEM  research  knowledge  economy  knowledge  worker  economics  of  abundance  marginal  cost  economic  damage  shared  economic  interest  macroeconomic  policy  microeconomic  policy  DWP  education  policy  inequality  Gini  coefficient  social  mobility  poverty  trap  child  poverty  income  mobility  creative  destruction  Future  of  Work  Mobile  Creatives  Mobile  White-collar  Blue-collar  squeezed  middle  class  Sozialer  Abstieg  working  poor 
august 2015 by asterisk2a
A Funny Thing Happened on the Way to $80 Oil - Bloomberg View
[ new duopoly? - USA - OPEC, and OPEC not wanting that?! ] I'm sticking with my forecast of $10 to $20 a barrel. The logic behind that February projection still seems valid. Cartels exist to keep prices above equilibrium. But that encourages cheating, as cartel members want more than their allotted share and outsiders sell more to take advantage of the artificially elevated price. So the job of the cartel leader -- in OPEC's case, Saudi Arabia -- is to cut its production to accommodate the cheaters and prevent a price collapse. The Saudis had been doing that for decades, and as a result, OPEC production over the last 10 years has been flat, with all the growth instead enjoyed by non-OPEC producers, including U.S. frackers and Canadian oil-sands companies. [...] In Texas's Permian Basin and in the Persian Gulf, the marginal cost is $10 to $20 a barrel, and even lower for some Saudi oil fields. [...] Russia is desperate for anything that will earn foreign exchange. // &! bv.ms/1yKiZBs
OPEC  cartel  Oil  price  oligopol  monopoly  duopoly  marginal  cost  Saudi  Arabia  foreign  affairs  foreign  policy  foreign  relations  Middle  East  Russia  China  deflationary  deflation  fracking  shale  gas  shalegas  USA  energy  price  energy  policy  renewable  energy  2015  economic  history 
august 2015 by asterisk2a
Saudi Arabia will need deep pockets if it is to win its oil war with US | Larry Elliott | World news | The Guardian
Riyadh’s plan to raise $27bn from bond sales is a sign that its economic battle with United States is taking its toll [...] Saudi Arabia is an expensive country to run for the House of Saud. Fearful of Iran, it has imported the latest military kit to show that it is the Middle East’s regional superpower. Higher defence spending has also been needed to fund action in Yemen and to counter the threat from Islamic State. In addition, Saudi Arabia has an unemployment problem that it fears may become a social unrest problem. Two-thirds of the population is under 30 and the unemployment rate for the 16-29 age group is 29%. [...] [IMF] estimates that Saudi Arabia is on course to run a budget deficit of 20% of national income this year. [...] oil accounts for almost 90% of Saudi Arabia’s revenues, [...] Saudis are now embroiled in a long – and expensive – war of attrition. And one they may not win. // &! /bbc.in/1gmHu0V
OPEC  shale  gas  shalegas  Oil  price  tarsand  fracking  USA  Europe  Saudi  Arabia  short-term  thinking  short-term  view  policy  folly  policy  error  democracy  Religion  western  world  fiscal  policy  industrial  policy  Career  Politicians  corruption  bribery  Islamic  Law  Law  &  Justice  Justice  System  foreign  affairs  foreign  policy  2015  national  interest 
august 2015 by asterisk2a
Royal Dutch Shell cuts 6,500 jobs - BBC News
Oil giant Royal Dutch Shell has announced it has shed 6,500 jobs as part of cost-cutting plans as it seeks to counter falling oil prices. // &! bbc.in/1OPYI2I - British Gas owner Centrica cuts 6,000 jobs [...] However, the strong performance at British Gas was offset by a collapse in profits at Centrica's oil and gas production division. Profits in this unit fell 78% to £116m as a result of lower oil prices. [...] Centrica appointed Iain Conn as chief executive at the start of this year. He has been conducting a strategic review of the business over the past five months, which has concluded Centrica should concentrate on the British Gas side of the business and reduce its activities in actual energy production, which takes major investment. That is a less attractive business currently, as raw energy costs, such as oil, are around $50-60 a barrel, half the levels of last year. Centrica said it was assuming the oil price would not move far from that for the foreseeable future.
energy  price  2015  Oil  price  recovery  global  economy  China  secular  stagnation  economic  growth  business  cycle  business  confidence  consumer  confidence  deflationary  deflation  disinflation  debtoverhang  sovereign  debt  crisis  Taper  balance  sheet  recession  Richard  Koo  energy  market  renewable  energy  green  energy  energy  security  wind  energy  energy  policy  energy  efficiency  competitive  competitiveness  OPEC  shale  gas  fracking  shalegas  UK  USA  Europe  Japan  debt-fuelled  recovery  debt  monetisation  debt  monetization  fiscal  policy  monetary  policy  austerity  ZIRP  NIRP  QE  productive  investment  asset  allocation  unintended  consequences  unknown  unkown  asset  bubble  speculative  bubbles  hunt  for  yield 
july 2015 by asterisk2a
How plunging oil prices have created a volatile new force in the global economy | Business | The Guardian
The new Saudi strategy has caused ripples across the world, knocking off pricey drilling operations everywhere from the Arctic to South America. More broadly, lower energy prices have delivered a blow to oil-dependent nations, pressuring state-run oil firms, causing a currency slump in Nigeria, and contributing to major economic contractions in Venezuela and Russia. Some experts also say that the Saudis are hoping to cut off the fracking boom at its knees. If they’d allowed prices to stay high, US production would have continued to grow rapidly.
OPEC  shale  gas  fracking  USA  geopolitics  foreign  affairs  foreign  policy  foreign  relations  petrodollar  Petroleum  Industry  petrodollars 
july 2015 by asterisk2a
America Is One Big Pothole: Ray LaHood - YouTube
- increases cost for people and businesses, doing business. in USA, compared to elsewhere. Ops Cost. ie Commuting times. biggest well being/health cost to employees and thus businesses (sick days and productivity and health care spending) same with air and water pollution. same with defences against flooding (drainage and sewers). same with fallen trees on electricity lines during storms (rail and street disruption). // China is building controversially not for the next 5-10 years. It is building for the next 20-30 years because (1) political system and (2) for the purpose of keeping GDP growth up y/y at an arbitrarily number of ie 5-7%. Without regard for the quality, the multiplier, repair cost (up keep cost of an empty road or building till it is fully utilized in 5-10 years time). // US, UK, etc could also additionally to the gasoline tax put on a levy of 0.1-2% on gross revenue of all businesses. Because they USE the infrastructure too & depend on it to do business - or move.
infrastructure  infrastructure  investment  USA  gas  tax  gasoline  tax  fiscal  stimulus  fiscal  policy  long-term  view  long-term  thinking  competitiveness  competitive  flat  world  borderless  UK  Germany  globalisation  globalization  Career  Politicians  No  Representation  economic  model  trickle-down  economics  tax  evasion  tax  avoidance  tax  code  corporate  tax  rate  fairness  solidarity  Gesellschaft  society 
july 2015 by asterisk2a
Government makes ‘outrageous’ U-turn over fracking in precious wildlife sites | Environment | The Guardian
Green MP Caroline Lucas says decision to backtrack on vow to ban fracking in sites of special scientific interest shows ministers cannot be trusted on issue
UK  fracking  shale  gas  shalegas 
july 2015 by asterisk2a
Jeremy Rifkin: A New Era of Capitalism - YouTube
energy changes societies. urbanisation and suburban enabled by fossil fuels. // "Energy Internet" clients are houses with solar roof-top and plugged in electric cars. Nodes are wind and solar farms, storage forms etc. Sharing energy globally. Continentalisation. // scales laterally, favours SME/SMB. // democratise manufacturing = 3D printing // Top-Down Corps to Prosumer (ProAm) to everybody being a potentially player! thus entrepreneurship, differentiation, being remarkable (Seth Godin). Distributed. Collaborative. Open. Transparent. (Open Source). Lateral Power. (TaxiOS project (collaborative) vs Uber (still top-down Wall Street profit maximisation shareholder value with no shared economic interest, capitalism [ youtu.be/wCLPizjSe6I ]). // We have to move from geopolitics to biosphere politics. Wall Street corporates are no stakeholders in our world, well being etc. // Continental political unions. Europe, Asia, South America, North America // Curse of oil! no diversification.
book  Industrial  Revolution  2.0  Energy  Internet  infrastructure  investment  infrastructure  Smart  Grid  ProAm  differentiate  differentiation  Seth  Godin  Future  of  Work  Mobile  Creatives  Mobile  Creative  Career  Politicians  No  Representation  education  policy  vocational  education  practical  skills  practical  skill  set  geopolitics  biosphere  politics  carbonfootprint  carbonemission  fossil  fuel  Wall  Street  stakeholder  globalisation  globalization  Collaborative  Capitalism  crony  profit  maximisation  shareholder  value  productive  investment  underinvestment  GFC  21stcentury  Europe  tarsand  shale  gas  shalegas  fracking  economic  model  economic-thought  economic  history  academia  academic  academics  trickle-down  economics  economics  of  abundance  marginal  cost  economic  growth  empathy  authenticity  authentic  humanitarian  crisis  human  tragedy  human  capital  human  progress  human  being  global  citizenship  global  warming  extreme  weather  weather  extreme 
may 2015 by asterisk2a
Royal Dutch Shell to buy BG Group in £47bn deal - BBC News
Defensive merger? The deal comes at a time of uncertainty for oil and gas companies. In the past six months the price of oil has fallen by about 50%. Meanwhile, analysts have warned that investment in North Sea oil exploration has all but dried up, threatening the entire industry. Last month, the Chancellor, George Osborne, lowered the supplementary corporation tax levied against oil companies that operate in the North Sea. BG Group warned in February that it would write down the value of its oil and gas assets by nearly £6bn ($9bn) due to the oil price slump. Similarly, Shell announced in January that it would be cutting spending by nearly £10bn over the next three years. As it announced the takeover bid, Shell said it expected to make asset sales totalling $30bn between 2016 and 2018, although it did not specify which assets it was reviewing for sale. - never let a crisis go to waste - http://www.bbc.co.uk/news/business-32217624
Oil  &  Gas  Industry  Aberdeen 
april 2015 by asterisk2a
Inside Story: Oil wars - Shifting balance of power? - YouTube
OPEC will export more and more to ASIA/emerging and developing world. and western world will wean itself off oil. // still USA, the world police, is only one secury the energy security corridor to asia, there is no direct link to USA anymore. // still energy security is still in academics mind. rising population and rising middle class in ASIA, Africa, Eurasia, Latin America, ... // every country needs an energy mix, period. but it's not about which direction, it's about the willingness to invest in efficient enough renewable sources. //
geopolitics  OPEC  Asia  fracking  shale  gas 
april 2015 by asterisk2a
BBC News - Oil firm Talisman Sinopec plans 300 North Sea job cuts
production cost higher, price lower, OPEC playing hard ball (it wants high production cost facilities (tar sands oil sands shale gas and expensive deep sea well operations and explorations to go bust under low oil prices for the next 6-12 months. it thinks it has the longer breath, deeper purse - HELLO WORLD!) = job cuts. first "asset" to go. --- BP, Shell, Chevron and Conoco Phillips have all announced reductions to their workforces recently. // http://www.economist.com/blogs/economist-explains/2014/12/economist-explains-4 &! http://www.vox.com/2014/12/16/7401705/oil-prices-falling &! http://www.bloomberg.com/news/2014-10-29/why-oil-prices-went-down-so-far-so-fast.html &! bit.ly/1COGvMx 35k jobs will be lost in 5 years &! the contrast of the working poor vs Millionaires - bit.ly/1yHz9tr &! bit.ly/1Gue1O6 "but the party is not over yet" bc this will pass too (OPEC's move/price war and global economy expectations 2015) &! 7k job cuts at Schlumberger bit.ly/158SetV &! bit.ly/1sXXs74
North  Sea  Oil  and  Gas  oilprice  price  UK  Aberdeen  global  economy  2015  general  election  2015  OPEC  shalegas  fracking  shale  tarsand  sands  political  theory  political  science  foreign  relations  foreign  affairs  foreign  policy  Middle  East 
january 2015 by asterisk2a
BBC News - UK's oil, coal and gas 'gone in five years'
"Britain has just 5.2 years of oil." Aberdeen companies (whole region) got 2 pivot 2 off-shore windfarm tech and maintenance and tidal wave technology [clean tech - clean energy technology]. PLUS there is the decommissioning business, decommissioning of oil and gas platforms. Plus the option of building/solidifying itself as knowledge and skill hub for global oil and gas business - the mobile creative / skill-based worker. Otherwise it could turn sour quiet quickly like the areas where the coal mines and other post-heavy industry locations in the UK were - them being still smudge of economic inactivity on UK's economic landscape and economic history. "Ministers are hoping that enough shale gas - extracted by fracking - will be obtained to make a difference, the BBC's environment analyst Roger Harrabin says." The gas amount from fracking in UK is negligible, not comparable to USA even if accounted 4 landmass size & energy usage/capita. + http://econ.st/1n8oyAZ http://econ.st/1gdiesV
UK  energy  security  energy  policy  industrial  policy  Aberdeen  renewable  energy  clean  tech  clean  energy  technology  Scotland  Scottish  Independence  economic  history  davidcameron  GeorgeOsborne  public  policy  green  energy  fracking  shalegas  shale  gas  2014  2015  nuclear  power  energy  crunch  brownouts  blackouts  competitiveness  Russian  Reliance  Europe  foreign  policy  foreign  affairs  Career  Politicians  accountability  governance  democracy  long-term  thinking  short-term  thinking  election  campaign  promises  general  election  2015 
may 2014 by asterisk2a
Fracking, Schiefergas: Das Märchen von der deutschen Erdgas-Bonanza - SPIEGEL ONLINE
In der Fachwelt glaubt daran fast niemand. US-Gasanalyst: "Ein Tropfen auf den heißen Stein" Mehr deutsches Schiefergas bringt sinkende Gas- und Strompreise - die Gleichung scheint so logisch, dass sie in der Öffentlichkeit kaum hinterfragt wird. In der Fachwelt geht jedoch fast niemand davon aus, dass sie stimmt. Tatsächlich dürfte das Schiefergas wenig zur Lösung der deutschen Energieprobleme beitragen. Das liegt nicht nur am Widerstand der Anwohner gegen die in Deutschland bisher nicht erprobte Fracking-Methode, "Wer außerhalb der USA auf eine Schiefergas-Revolution wartet, wird enttäuscht werden", stellte die Deutsche Bank 2011 in einer Studie fest.
shalegas  shale  gas  energy  security  Germany  fracking  Schiefergas 
february 2013 by asterisk2a
Energy crisis is postponed as new gas rescues the world - Telegraph
This is almost unknown to the public, despite the efforts of Nick Grealy at "No Hot Air" who has been arguing for some time that Britain's shale reserves could replace declining North Sea output.
Rune Bjornson from Norway's StatoilHydro said exploitable reserves are much greater than supposed just three years ago and may meet global gas needs for generations.
"The common wisdom was that unconventional gas was too difficult, too expensive and too demanding," he said, according to Petroleum Economist. "This has changed. If we ever doubted that gas was the fuel of the future – in many ways there's the answer."
.
There is an output gap results in unemployment results in shrinking consumption. ... Recession.
>> industrial production over the last year is still down 19pc in Japan, 18pc in Italy, 17pc in Germany, 15pc in Canada, 13pc in France and Russia. 11pc in the US and the UK and 10pc in Brazil. A 12pc rise in China does not offset this.
energy  gas  economics  oil  technology  resources  crisis  uk  recession  output  gap  USA 
october 2009 by asterisk2a

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