Energy

California Water Crisis Meets (Already Iffy) Fracking Boom

by Oilprice.com •  • Comments Off on California Water Crisis Meets (Already Iffy) Fracking Boom

California is sitting on the largest tight oil formation in the US, the Monterey Shale. Interest is heating up. The legislature passed a controversial law to regulate fracking and allow the industry to drill. But fracking requires lots of water.

Natural Gas Squeeze? “Panic hasn’t ensued just yet”

by Wolf Richter •  • Comments Off on Natural Gas Squeeze? “Panic hasn’t ensued just yet”

Record demand has pushed natural gas in storage to the lowest level for that week since 2005. And in 2005, the price of natural gas spiked to its all-time high. Something has to give.

Fracking Fluids to Blame for Rail Car Explosions

by Oilprice.com •  • Comments Off on Fracking Fluids to Blame for Rail Car Explosions

There has been a surge of derailments of trains carrying crude oil that resulted in huge, deadly explosions, highly unusual for crude oil trains. But the oil originated from the Bakken shale formation in North Dakota.

Iran, Russia Ruffle US Feathers With Oil Swap Deal

by Oilprice.com •  • Comments Off on Iran, Russia Ruffle US Feathers With Oil Swap Deal

Iran and Russia are in talks about a potential $1.5 billion oil-for-goods swap that could boost Iranian oil exports by 50%, which didn’t go over very well in Washington.

Offshore Fracking (And Dumping Chemicals Into Coastal Waters) Beyond The Public Eye

by Oilprice.com •  • Comments Off on Offshore Fracking (And Dumping Chemicals Into Coastal Waters) Beyond The Public Eye

Oil companies have been fracking offshore California and dumping chemicals into coastal waters for as long as two decades. It wasn’t until recently that FOIA requests brought it to light. Now the EPA is feebly trying to step in.

Brazil’s Energy Sector Struggles With Its “Oil Revolution”

by Oilprice.com •  • Comments Off on Brazil’s Energy Sector Struggles With Its “Oil Revolution”

Brazil has been touted as Latin America’s oil powerhouse, projected to account for one-third of global supply growth by 2035. But poor policies and bad luck are throwing cold water on these projections.

Clean Energy Presents “Perfect Storm” for Utilities

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A UBS report finds that the declining costs of renewable energy and energy storage are presenting a “perfect storm” for big utilities: They upend centralized electricity generation and put the utility business model in jeopardy.

The Natural Gas Glut Is, Like, So Over. Price Soars!

by Wolf Richter •  • Comments Off on The Natural Gas Glut Is, Like, So Over. Price Soars!

Someone must have known something. Natural gas jumped 2% before the Department of Energy released its Weekly Natural Gas Storage Report at 10:30 a.m. Normally, the report sends gas futures gyrating up or down. Today, they gyrated up from the start of trading.

Smart U.S. Oil Money Is on Rail

by Oilprice.com •  • Comments Off on Smart U.S. Oil Money Is on Rail

US oil production is breaking 20-year records. With the International Energy Agency suggesting the boom won’t last, smart investors are getting behind rail as the delivery tool of choice. Forget the controversial Keystone XL pipeline.

Ukraine, Third-Highest Default Risk In The World, Squeezed By Russia, Makes Two Gas Deals To Save Its Hide

by Oilprice.com •  • Comments Off on Ukraine, Third-Highest Default Risk In The World, Squeezed By Russia, Makes Two Gas Deals To Save Its Hide

By Scott Belinksi, OilPrice.com: If one were to believe most Western media outlets, the Ukraine has been lost to Russia. But two gas deals the Ukraine has reportedly made, one with Russia, the other with Slovakia in the EU, show that reality is slightly more complex.