• Quake Debate: Scientists warn of potential for 'large earthquake' as injection well discussion continues

    BY ZIVA BRANSTETTER, Tulsa World | Published: Mon, Feb 9, 2015

    The warning may have seemed a little dramatic at the time, but OSU geology professor Todd Halihan wanted to get lawmakers’ attention about the risk of a damaging earthquake. “We knew the dust bowl would happen scientifically, but as scientists we did not communicate it effectively to the people of the state; I don’t want to do it again with a large earthquake,” states a slide in Halihan's presentation to an interim study committee last October. “If a damaging earthquake occurs, do the right people foot the bill or do the taxpayers or the companies who are taking the proper precautions foot the bill?” Read the rest of this story at TulsaWorld.com .

  • Oilfield equipment maker Team Oil Tools closing Tulsa plant, laying off 95

    BY ROD WALTON, Tulsa World | Published: Fri, Feb 6, 2015

    The modern day oil bust has claimed another employer in Tulsa. Team Oil Tools has informed the Oklahoma Department of Commerce that it will permanently close its manufacturing facility and lay off 95 workers. The facility is at 10557 East Ute St., just east of downtown Tulsa. The WARN notice that Team Oil Tools sent to the Commerce Department indicated that the closing will happen April 3. Read the rest of this story at TulsaWorld.com .

  • Not in My Back Acreage: Defenders of Tradition in Keystone Pipeline Fight

    Published: Fri, Jan 23, 2015

    BRADSHAW, Neb. — An unpainted wooden barn sits in a snow-dusted cornfield along a gravel road, one of many that dot the rural horizon here, says the New York Times, however, this barn contains no horses, tractors or farming tools. Its roof is covered with solar panels, there is a windmill out front, and the interior is plastered with signs with slogans like “Build Our Energy” and “ #NOKXL ,” in protest of the proposed Keystone XL pipeline, which could run under the property if President Obama approves the project. The 1,179-mile pipeline, first proposed in 2008, would carry oil from Canada into the United States, connecting with existing pipelines in southern Nebraska. In Congress, the Senate continues to debate a bill to approve the pipeline, and the House has already passed a bill to approve its construction. Four Harrington sisters — Abbi, Terri, Jenni and Heidi — grew up in the 1960s and ’70s tending livestock and crops here, and three of them have remained in Nebraska and continue to farm the land. They fear that construction of the pipeline could threaten their livelihood and a family farming tradition that dates back about 150 years, to when their great-great-grandfather settled on the plot.

  • Former oil exec: $5-a-gallon gas on the way

    Published: Tue, Jan 20, 2015

    John Hofmeister attracted national attention in 2010 when he predicted that average U.S. gasoline prices would soar to $5 a gallon in 2012, thanks to rising crude oil prices. His forecast fell short, as the cost of filling up flirted with $4 in 2012, but never went higher, USA TODAY reports. Now, with national gasoline prices currently averaging $2.05 a gallon, their lowest level since early 2009, the former president of Shell Oil 06is issuing another warning, telling motorists that their joy ride may end sooner than they think. "The next round of high prices is likely to start later this year, as crude rebounds to the $80s and $90s, perhaps pushing to the $100 level by late in the year or early next," Hofmeister told me the other day after a trip to Calgary, where he was promoting natural gas as a transportation fuel.

  • Saudi prince: $100-a-barrel oil 'never' again

    Published: Mon, Jan 12, 2015

    Saudi billionaire businessman Prince Alwaleed bin Talal told Maria Bartiromo for USA Today that we will not see $100-a-barrel oil again. The plunge in oil prices has been one of the biggest stories of the year. And while cheap gasoline is good for consumers, the negative impact of a 50% decline in oil has been wide and deep, especially for major oil producers such as Saudi Arabia and Russia. Even oil-producing Texas has felt a hit. The astute investor and prince of the Saudi royal family spoke to Bartiromo exclusively last week as prices spiraled below $50 a barrel. He also predicted the move would dampen what has been one of the big U.S. growth stories: the shale revolution.

  • Robert Redford: Here's Why Keystone XL Is the Wrong Choice for Our Nation

    Published: Fri, Jan 9, 2015

    The new Republican majority in Congress wants to force approval of the Keystone XL pipeline for dirty tar sands oil, says Robert Redford in the Huffington Post. President Obama announced he will veto bills that bypass the official review of Keystone XL. There are plenty of reasons to block these bills and this pipeline.

  • Cheap oil is killing my job

    Published: Tue, Jan 6, 2015

    Marcus Benson moved 1,500 miles from his home in Philadelphia to North Dakota for the shale boom, says CNN Money. He made the lengthy drive -- with no job and nowhere to live -- in April 2012 after hearing on the news that the state had the lowest unemployment rate in the country. He immediately landed good-paying work loading rail cars with sand used for fracking.

  • Saudi Arabia: We'll never cut oil production

    Published: Mon, Dec 22, 2014

    Saudi Arabia has a tough message for oil producers hurting from the price crash: We'll never cut production. In an exclusive interview with CNN, Saudi oil minister Ali al-Naimi also said he wasn't conspiring to take out rival producers by driving down the price.

  • 8 countries that win and lose big from oil plunge

    Published: Tue, Dec 16, 2014

    Oil prices traded near a five-year low Tuesday, as global supply continued to outstrip demand. Since the start of the year, prices have plummeted close to 50 percent, according to USA TODAY. That decline has produced windfalls — or disasters — for a number of countries. Here's a look at four of the biggest winners and four major losers...

  • Study: Your all-electric car may not be so green

    Published: Mon, Dec 15, 2014

    WASHINGTON (AP) — People who own all-electric cars where coal generates the power may think they are helping the environment. But a new study finds their vehicles actually make the air dirtier, worsening global warming. Ethanol isn't so green, either. "It's kind of hard to beat gasoline" for public and environmental health, said study co-author Julian Marshall, an engineering professor at the University of Minnesota. "A lot of the technologies that we think of as being clean ... are not better than gasoline." The key is where the source of the electricity all-electric cars. If it comes from coal, the electric cars produce 3.6 times more soot and smog deaths than gas, because of the pollution made in generating the electricity, according to the study that is published Monday by the Proceedings of the National Academy of Sciences. They also are significantly worse at heat-trapping carbon dioxide that worsens global warming, it found.

  • Oklahoma: First U.S. Gas Station Drops Below $2 a Gallon

    Published: Thu, Dec 4, 2014

    $2 gasoline is back in the U.S. An Oncue Express station in Oklahoma City was selling the motor fuel for $1.99 a gallon today, becoming the first one to drop below $2 in the U.S. since July 30, 2010, Patrick DeHaan, a senior petroleum analyst at GasBuddy Organization Inc., said by e-mail from Chicago.

  • As oil prices plunge, wide-ranging effects for consumers and the global economy

    Published: Wed, Dec 3, 2014

    Tumbling oil prices are draining hundreds of billions of dollars from the coffers of oil-rich exporters and oil companies and injecting a much-needed boost for ailing economies in Europe and Japan — and for American consumers at the start of the peak shopping season. The result could be one of the biggest transfers of wealth in history, potentially reshaping everything from talks over Iran’s nuclear program to the Federal Reserve’s policies to further rejuvenate the U.S. economy.

  • As oil prices plunge, wide-ranging effects for consumers and the global economy

    Published: Tue, Dec 2, 2014

    Tumbling oil prices are draining hundreds of billions of dollars from the coffers of oil-rich exporters and oil companies and injecting a much-needed boost for ailing economies in Europe and Japan — and for American consumers at the start of the peak shopping season. The result could be one of the biggest transfers of wealth in history, potentially reshaping everything from talks over Iran’s nuclear program to the Federal Reserve’s policies to further rejuvenate the U.S. economy.

  • OPEC Policy Ensures U.S. Shale Crash, Russian Tycoon Says

    Published: Thu, Nov 27, 2014

    From Bloomberg: OPEC policy on crude production will ensure a crash in the U.S. shale industry, a Russian oil tycoon said. The Organization of Petroleum Exporting Countries kept output targets unchanged at a meeting in Vienna today even after this year’s slump in the oil price caused by surging supply from U.S shale fields. American producers risk becoming victims of their own success.

  • Chesapeake accused of not paying for natural gas produced from invalid leases

    Published: Thu, Nov 20, 2014

    Chesapeake Energy may face a class-action lawsuit that claims it has cheated North Texas landowners of at least $100 million by pumping gas from properties that had gone through foreclosure, invalidating the oil and gas leases, the Fort Worth Star-Telegram reports. Chesapeake continued to tap reserves beneath the various properties in Johnson and Tarrant counties even after the Oklahoma City-based energy giant discovered it had troubled leases following the economic downturn in 2008, choosing instead to “ignore the problem,” the lawsuit asserts. Read more here: http://www.star-telegram.com/2014/11/19/6302714/chesapeake-accused-of-not-paying.html#storylink=cpy

  • Fracking to be allowed in largest national forest on U.S. east coast

    Published: Tue, Nov 18, 2014

    Over the objection of environmental groups and Virginia’s governor, a federal management plan released on Tuesday will allow a form of natural gas drilling known as fracking to occur in parts of the largest national forest on the east coast, according to The Guardian. The US Forest Service originally planned to ban fracking in the 1.1m-acre George Washington National Forest, but energy companies cried foul after a draft of the plan was released in 2011. It would have been the first outright ban on the practice in a national forest. “We think we’ve ended up in a much better place, which is we are allowing oil and gas drilling,” Robert Bonnie, the US Department of Agriculture’s undersecretary for natural resources and environment, told the Associated Press in a telephone interview.

  • House, Senate to vote on Keystone XL pipeline

    Published: Thu, Nov 13, 2014

    For the first time in the six-year fight over the controversial Keystone XL pipeline, both houses of Congress will hold a vote on the proposed project, giving each side in a Louisiana Senate election a chance to boost its candidate. The two lawmakers locked in the runoff contest, Sen. Mary Landrieu (D) and Rep. Bill Cassidy (R), seized control of the congressional agenda Wednesday, extracting assurances from House and Senate leaders that votes will be held to bypass President Obama’s authority and authorize construction of the pipeline.

  • Former Chesapeake CEO says U.S. shale boom not exportable

    Published: Wed, Nov 5, 2014

    Aubrey McClendon, former CEO of natural gas giant Chesapeake Energy, argued in a speech Wednesday the U.S. shale drilling boom was unlikely to be replicated in other countries, the Dallas Morning News reports. McClendon, who now has a new shale venture, American Energy Partners, said the combination of entrepreneurial spirit, expansive infrastructure and the private ownership of mineral rights makes the United States unique.

  • Boone Pickens tells oil companies to stop drilling

    Published: Thu, Oct 23, 2014

    Billionaire oilman T. Boone Pickens has seen plummeting oil prices before and says he knows what the problem is. Energy companies are pumping too much oil and none of them wants to be the first to stop, Mr. Pickens said Wednesday in an interview with The Wall Street Journal.

  • Saudi Arabia’s Crude Oil Supply Said to Fall in September

    Published: Thu, Oct 23, 2014

    The amount of oil Saudi Arabia supplied to markets fell last month, according to a person familiar with the country’s oil policy. Its production climbed. The world’s biggest crude exporter supplied 9.36 million barrels a day last month, a reduction of 328,000 barrels daily from August, according to the person, who asked not to be identified, citing policy. The supply figure excludes what’s stored. Saudi Arabia produced about 100,000 barrels a day more than in August, the person said.