Category OIL

Using Solar Power to Extract Oil

GlassPoint GlassPoint has built a greenhouse with lightweight mirrors that it says could also be used to make steam for electricity production. A California company has begun using solar power to squeeze oil out of an old oil field, flooding the underground rock with steam that comes from the sun’s heat instead of from burning […]

New drilling method opens vast oil fields in US

     AP – FILE – This Oct. 17, 2010 photo shows an aerial photo of oil sprayed over 15 acres downwind of a runaway … Related Quotes Symbol Price Change BP 45.83 -0.54 EOG 103.95 -0.81 ^GSPC 1,320.88 -3.69 // // A new drilling technique is opening up vast fields of previously out-of-reach oil in the western […]

Obama’s Bid to End Oil Subsidies Revives Debate

WASHINGTON — When he releases his new budget in two weeks, President Obama will propose doing away with roughly $4 billion a year in subsidies and tax breaks for oil companies, in his third effort to eliminate federal support for an industry that remains hugely profitable. David McNew/Getty Images. President Obama urges an end to […]

Fuel…there is some left in the good o’l USA…will the government allow it to be extracted?

  Ralph Wilson/Associated Press NO SHORTAGE A Chesapeake Energy natural gas well near Burlington, Pa. Experts say the nation has gas reserves for 100-plus years. THREE summers ago, the world’s supertankers were racing across the oceans as fast as they could to deliver oil to markets growing increasingly thirsty for energy. Americans were grumbling about […]

Neste Oil starts up its new renewable diesel plant in Singapore

  Neste Oil starts up its new renewable diesel plant in Singapore Neste Oil has started up the world’s largest renewable diesel plant in Singapore. Production of NExBTL renewable diesel will be ramped up on a phased basis. The plant was completed on-schedule and on-budget and marks a major step forward in Neste Oil’s clean […]

Is ‘Peak Oil’ Behind Us?

  International Energy Agency Projections of the world’s liquid energy sources to 2035. Peak oil is not just here — it’s behind us already. That’s the conclusion of the International Energy Agency, the Paris-based organization that provides energy analysis to 28 industrialized nations. According to a projection in the agency’s latest annual report, released last […]

New Oil Patches Sprout Across Nation

  Paul Bordovsky, left, and John Braudaway talk last week by the well on Mr. Bordovsky’s 642-acre ranch. With Natural-Gas Prices Low, Drillers Set Sights on Crude Locked in Shale; Estate-Planning in a South Texas Town  KARNES CITY, Texas—A surge in oil drilling is transforming this rural south Texas community—and with it, American energy production. […]

Cost of Tapping Green Power Makes Projects Tougher Sell

Michael Polsky’s wind farm company was doing so well in 2008 that banks were happy to lend millions for his effort to light up America with clean electricity. But two years later, Mr. Polsky has a product he is hard-pressed to sell. His company, Invenergy, had a contract to sell power to a utility in […]

Clinton Facing Heat on Oil Sands Pipeline

  Associated Press Pastureland in north central Nebraska through which the Keystone XL pipeline would be built. Battle lines have been hardening over the proposed Keystone XL pipeline over the last couple of weeks. The pipeline, which will stretch between Alberta in Canada and refineries on the Gulf Coast, would nearly double the United States’ […]

Brazil deepwater well hits huge oil reserve

The Brazilian government has found up to 15bn barrels of oil in a deep-water field known as Libra, in a further indication of potentially enormous reserves contained in the so-called pre-salt region first discovered in 2007. If confirmed, the Libra field alone could more than double the size of Brazil’s current proven reserves of about […]

U.S. Military Orders Less Dependence on Fossil Fuels

      Last week, a Marine company from California arrived in the rugged outback of Helmand Province bearing novel equipment: portable solar panels that fold up into boxes; energy-conserving lights; solar tent shields that provide shade and electricity; solar chargers for computers and communications equipment. The 150 Marines of Company I, Third Battalion, Fifth […]

German Military Braces for Scarcity After ‘Peak Oil’

A study by a German military think tank leaked to the Internet warns of the potential for a dire global economic crisis in as little as 15 years as a result of a peak and an irreversible decline in world oil supplies. Associated Press The study was produced by the Future Analysis department of the […]