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ConocoPhillips CEO Ryan Lance targeted shale boom skeptics Friday, refuting arguments that the surge in oil and gas production will be short-lived, the Houston Chronicle reported. Speaking at Rice University’s Baker Institute for Public Policy, Lance said he believes the country’s shale revolution is only in the “first inning of a nine inning game,” and critics shouldn’t assume growing shale production will stop any time soon.
"A little bit uncomfortable," that's how the CEO of Chesapeake Energy says it felt taking the reins of the oil and gas company from Aubrey McClendon last spring," reports News 9. Not only was Doug Lawler assuming control of a company that was struggling with both performance and governance issues, he was stepping into the shoes of a man he calls ...
After a Chevron hydraulic fracturing well exploded in rural Dunkard Township, Pennsylvania, last Tuesday, and burned for four days straight, the energy company knew just the way to soothe nearby residents: free pizza. The flames that billowed out of the Marcellus Shale natural gas well were so hot they caused a nearby propane truck to explode, and first responders were forced to retreat to avoid injury. The fire burned for four days, and Chevron currently has tanks of water standing by in case it reignites. Of the twenty contractors on the well site, one is still missing, and is presumed dead. Seconds before the explosion, John Kuis, 57, who lives less than a half-mile away in Dilliner, said he felt rumbling.
Pennsylvania Gov. Tom Corbett is calling for an investigation into allegations of fraud against Pennsylvania’s biggest natural gas driller, Chesapeake Energy Corp., StateImpactPA reports. Corbett sent a letter to Chesapeake’s CEO Doug Lawler, saying he has asked the state's attorney general to investigate allegations the company is shortchanging landowners on natural gas royalty payments. “I have received complaints from my constituents and your leaseholders regarding practices of Chesapeake Energy which strike many as unfair and perhaps illegal.” Corbett wrote. ”I remain disappointed that the complaints continue to go unheeded.”
A sniper attack in April that knocked out an electrical substation near San Jose, Calif., has raised fears that the country's power grid is vulnerable to terrorism, the Wall Street Journal reports. Nobody has been arrested or charged in the attack at PG&E Corp.'s Metcalf transmission substation. It is an incident of which few Americans are aware. But one former federal regulator is calling it a terrorist act that, if it were widely replicated across the country, could take down the U.S. electric grid and black out much of the country.
Replacing the Keystone XL pipeline with oil-laden freight trains from Canada may result in an average of six additional rail-related deaths per year, according to a U.S.State Department and Reuters reports. The Association of American Railroads suggested that the report had painted an unfair comparison.