Oil Industry and Environmentalists respond to State of the Union - “After years of talking about it, we are finally poised to control our own energy future,” said President Obama, "“We produce more oil at home than we have in 15 years."
Youngstown company under fire for allegedly dumping wastewater - "Federal charges are expected to be filed today against an oil and natural gas drilling company accused of dumping more than 20,000 gallons of fracking waste into a tributary of the Mahoning River on Jan. 31, according to a news release from U.S. Attorney Steven Dettelbach." Dettelbach has scheduled a news conference for 1 p.m. to announce the charges against D&L Energy, a Youngstown-based company engaged in fracking operations primarily in the Appalachian Basin of Ohio and Pennsylvania, according to its website. (Cleveland Plain Dealer)
Northern Ireland's shale potentially worth billions - Shale gas deposits in Northern Ireland could be worth about £80bn according to a new report by consulting firm PwC...Sinn Féin have claimed the report was "one-sided" and "sensationalist". The issue of fracking has divided the community in Fermanagh in recent years. In order to carry out fracking a company must receive a license from the Northern Ireland executive. (BBC)
Liquefied Petroleum Gas set to make U.S. oil exporter - The U.S. is poised to become a net exporter of liquefied petroleum gases for the first year ever as shale-based energy production jumps, prompting new orders for specialized ships to haul propane and butane. Daily LPG shipments equated to a record 194,000 barrels in last year’s first 11 months, outpacing imports at 169,700 barrels, U.S. Energy Information Administration figures show. That’s the first time the country was a net exporter in records going back to 1973, according to data compiled by Bloomberg... Increased U.S. production is leading to orders at shipyards for vessels designed to transport LPG as well as other petrochemical gases including ethane, said Stephen Wilson, director of Braemar Seascope’s gas department.(Bloomberg)
Shale poses threat to renewable energy - The shale oil industry is still in its infancy, but has the potential to reach up to 12 per cent of global production, potentially pushing down oil prices by as much as $50 per barrel by 2035, according to a new report by consultancy firm PwC. Lower oil prices are more likely to extend production rather than simply increase it, but this could make alternative low carbon technologies less attractive, Jonathan Grant, director of sustainability and climate change at PwC, told BusinessGreen..."Digging up and burning new reserves of fossil fuels can only exacerbate the huge negative impact on the global economy of climate change," said Doug Parr, chief scientist at Greenpeace, in an emailed statement. "Any short term price gains for consumers will ultimately be dwarfed by the impact of rising temperatures on every aspect of economic life." (Guardian UK)