Filed under: Uncategorized | Tags: Bakken, energy consumption, exploding oil, FERC Enbridge, fracking, oil, peak oil, shale oil, Tesoro, True
Kind of makes the unsourced story about LPG cars seem like a fake-out.
According to Bloomberg, Enbridge Inc., Tesoro Corp., and True companies all won the approval of the Federal Energy Regulatory Commission to refuse oil that had high levels of hydrogen sulfide, a highly flammable gas that can be a byproduct of oil production, after they started seeing oil with concentrations tens and even hundreds of times higher than what regulators have deemed safe for exposure. The danger of these elevated levels of gas in the oil was thrown into stark relief on July 6, when an unmanned, runaway train crashed carrying 72 cars of oil. Five of them exploded, killing 47.
Filed under: Uncategorized | Tags: Bakken, Keystone, Lac-Megantic, oil transportation, shale oil, tight oil
Investigators say they’ve recovered the “black box” that should help determine what happened before a Montreal, Maine & Atlantic Railway Ltd. train carrying crude oil derailed and exploded in a Quebec town, killing at least five people.
The train with 72 carloads of crude oil crashed and burst into flames early Saturday near the center of Lac-Megantic, in the southeastern part of the province, forcing the evacuation of 2,000 people, police said. Forty people remain unaccounted for and a criminal investigation is under way.
Filed under: Uncategorized | Tags: Bakken, Lac-Megantic, oil transportation, Quebec, train derailment
Okay, this makes a lot more sense. Sorry about the confusion. Still a mystery however.
The cause of the accident was believed to be a runaway train, the railway’s operator said. The president and CEO of Rail World Inc., the parent company of Montreal, Maine & Atlantic Railway, said the train had been parked uphill of Lac-Megantic. The tanker cars then sped downhill into the town before derailing.
“If brakes aren’t properly applied on a train, it’s going to run away,” said Edward Burkhardt. “But we think the brakes were properly applied on this train.”
Burkhardt, who was mystified by the disaster, said the train was parked because the engineer had finished his run.
“We’ve had a very good safety record for these 10 years,” he said of the decade-old railroad. “Well, I think we’ve blown it here.”
Filed under: Uncategorized | Tags: Bakken, crude oil, energy, IEA, IEA forecast, OECD, oil price predictions, oil supply, OPEC, peak oil, refining capacity, shale oil, tight oil
IEA… Not a good track record with the predictions. Doesn’t stop ’em from throwing out new crazy numbers every year.
While geopolitical risks abound, market fundamentals suggest a more comfortable global oil supply/demand balance over the next five years. The MTOMR forecasts North American supply to grow by 3.9 million barrels per day (mb/d) from 2012 to 2018, or nearly two-thirds of total forecast non-OPEC supply growth of 6 mb/d. World liquid production capacity is expected to grow by 8.4 mb/d – significantly faster than demand – which is projected to expand by 6.9 mb/d. Global refining capacity will post even steeper growth, surging by 9.5 mb/d, led by China and the Middle East.
Filed under: Uncategorized | Tags: Bakken, enegy, frack, fracking, IEA, oil journalism, oil production, oil shale, oil supply, Peak Demand, peak oil, shale oil, tight oil, Tom Gjelten
As NPR’s Tom Gjelten reports:
“Petroleum engineers have always known about the untapped underground oil in the United States, but it was unreachable, trapped in tight shale rock. Then the engineers figured out how to crack the rock. Hydraulic fracturing — fracking — got that ‘tight oil’ finally flowing in places like North Dakota.”
Wrong, Tom. The tight oil has been ‘reachable’ for several decades, it was just such an expensive process that it made no sense to do it when oil was cheap — a money-losing proposition. Now, all the cheap oil is gone, and out comes the ‘unconventional’ oil.
Gjelten also said that the decline in oil consumption in the US was due to efficiency (check the VMT chart Tom). There was no mention of depletion of existing fields, or the striking decline rate of fracked shale wells. And he reported that cheaper oil is just over the horizon.
Would it hurt Mr. Gjelten to do just a tiny bit of research on the topic of his reports so he doesn’t sound like a complete idiot?
Filed under: Uncategorized | Tags: Bakken, fracking, health care costs, shale gas, shale oil, tight gas, tight oil, Watford City
A less obvious form of corporate welfare.
The furious pace of oil exploration that has made North Dakota one of the healthiest economies in the country has had the opposite effect on the region’s health care providers. Swamped by uninsured laborers flocking to dangerous jobs, medical facilities in the area are sinking under skyrocketing debt, a flood of gruesome injuries and bloated business costs from the inflated economy.
This post is an interesting companion to the one below.
Filed under: Uncategorized | Tags: Bakken, CH4, fracking, horizontal drilling, Natural gas, natural gas flaring, North Dakota, oil production, shale oil, taxes, tight gas, tight oil
Rampant waste and environmental degradation have been part of the Bakken boom. The state doesn’t care about that, but it wants its taxes.
Helms estimates that about 30% of the gas produced in the state is flared, since development of takeaway infrastructure has not matched the pace of drilling.
Producers are currently allowed to flare gas for a year without paying royalties. The new bill would extend that tax-exempt period for two more years if an operator can collect at least 75% of the produced gas.