by Eric Worrall, December 31, 2018 in WUWT
Despite oil accounting for a whopping 90% of Venezuela’s export earnings, President Maduro, a fervent supporter of the Paris Agreement, has courageously put principle before profits by implementing his version of a new green deal. Maduro has eliminated the capitalist exploiters from his nation’s oil industry, and replaced them with loyal army officers who are rapidly dismantling the infrastructure left behind by the capitalists.
Read more: https://www.businessinsider.com/r-special-report-oil-output-goes-awol-in-venezuela-as-soldiers-run-pdvsa-2018-12/
by Larry Hamlin, December 15, 2018 in WUWT
The L. A. Times published an article addressing a panel discussion at the latest U.N. climate alarmist confab in Poland touting protests by attendees regarding the need for continued use of fossil fuels.
by David Middleton, December 7, 2018 in WUWT
The “amazing” thing is that this isn’t a “new” oil discovery. It’s just a realization that a lot more oil and gas can be produced from these formations than was previously imagined.
The Permian Basin a nearly infinite resource. It seems as if there will always be more hydrocarbons to squeeze out of its numerous oil & gas reservoirs. From a Warmunist perspective the Bone Spring and Wolfcamp are much worse than previously thought…
by J. Farchy & H. Warren, December 2, 2018 in Bloomberg
While there’s little cobalt mining in China itself (1 percent of the world’s total output in 2017), Chinese companies have snapped up cobalt mines abroad in recent years, particularly in the Democratic Republic of Congo, the largest source of the metal.
by U.S. Energy Information Administration, November 2018
Stronger oil and natural gas prices combined with continuing development of shales and low permeability formations drove producers of crude oil and natural gas in the United States to report new all-time record levels of proved reserves for both fuels in 2017. Total U.S. oil reserves in 2017 exceeded a brief, one-year, 47-year-old record, highlighting the importance of crude oil development in shales and low permeability plays, mainly in the Southwest. The new record for natural gas extends a longer-term trend of development, mainly in shale plays in the Northeast. Both U.S. proved reserves of crude oil and natural gas are approximately double their levels from a decade ago. These new proved reserves records were established in 2017 despite production of crude oil at levels not seen since 1972, and record natural gas production.
Highlights are listed below.
by Toi Staff, November 24, 2018 in TheTimes.of.Israel
HE LONGEST, DEEPEST UNDERWATER GAS NETWORK IN THE WORLD
Greece, Italy, and Cyprus have reached an agreement with Israel to lay a pipeline connecting the Jewish state’s gas reserves to the three countries, in a major project estimated at costing over $7 billion that will supply gas from the eastern Mediterranean to Europe, as the continent seeks to diversify its energy supply.
According to Hadashot TV, the European Union agreed to invest $100 million in a feasibility study for the project before the agreement was reached over the laying of the longest and deepest underwater gas pipeline in the world.
by Stephanie Roker, November 22, 2018 in WorldCoal
Indonesia’s consumption of domestic coal for power generation will almost double from 84 million t in 2018 to 157 million t by 2027. This increases power generation’s share of domestic consumption from 18.5% to 33.6%, which is likely to displace export tonnage.
Another factor contributing to the higher coal consumption is that Indonesia’s new power plants are designed to consume lower energy coal. This means more coal will be required per unit of electricity generated.
This increase in domestic consumption combined with potential government efforts to conserve coal reserves represents a downside risk for Indonesian exports.
Indonesia’s electrification programme to drive domestic coal demand
by Stop These Things, November 20, 2108 in ClimateChangeDispatch
In the climate alarmists’ worldwide crusade against carbon dioxide gas, only the most delusional still believe that wind and solar power add anything to their arsenal.
As we have said repeatedly, nuclear power is the only stand-alone power generation source which is capable of delivering power on demand, without CO2 emissions being generated in the process.
Perversely, notwithstanding that Australia is in the top three uranium exporters, it’s the only G20 country with a legislated prohibition on nuclear power generation…
by Andy May, November 20, 2018 in WUWT
A few news items from The Shale Gas News, by Bill desRosiers of Cabot Oil & Gas. The main paragraphs below are adapted from desRosiers, but I’ve added some detail. Things are looking very good for the U.S. oil, gas and coal industries.
U.S. crude oil and natural gas production increased in 2017, with fewer wells. The total number of wells producing crude oil and natural gas in the United States fell to 991,000 in 2017, down from a peak of 1,039,000 wells in 2014. This recent decline in the number of wells reflects advances in technology and drilling techniques. EIA’s updated U.S. Oil and Natural Gas Wells by Production Rate report shows how daily production rates of individual wells contributed to U.S. total crude oil and natural gas production in 2017.
The well efficiency gains, in part, reflect an increase in the proportion of horizontal wells. The number of vertical wells decreased from 940,000 in 2014 to 864,000 in 2017. The number of horizontal wells increased from 99,000 in 2014 to 127,000 in 2017, an increase of 28%. This is important since only one percent of vertical wells produce 100 barrels of oil per day (BOPD) or more, but 30% of horizontal wells do. Typically, a horizontal well costs about twice as much as a vertical well to the same reservoir.
U.S. oil production grew from 10 million BOPD to 11 million BOPD between December 2017 and July 2018. Over the same period natural gas production grew from 97 BCF (billion cubic feet) to 100 BCF. Figures 1, 2, and 3 show the total number of wells drilled and the total oil and natural gas production.
by P. Homewood, November 17, 2018 in NotalotofPeopleKnowThat
It’s worth taking a closer look at the claim made last week that India is leading the world in tackling climate change.
The claim was based on India’s latest National Electricity Plan (NEP), which was published in April 2018. Below is the current situation for installed capacity, according to the NEP:
by CarbonBrief, June 5, 2018
Since 2000, the world has doubled its coal-fired power capacity to 2,000 gigawatts (GW) after explosive growth in China and India. Another 200GW is being built and 450GW is planned.
More recently, 200GW has closed due to a wave of retirements across the EU and US. Another 170GW is set to retire by 2030 and 13 of the world’s 77 coal-powered countries plan a total phaseout.
Meanwhile, electricity generated from coal peaked in 2014, so the expanding fleet is running fewer hours than ever. This erodes coal’s bottom line, as does competition from gas and renewables.
The way coal’s next chapter unfolds is key to tackling climate change. All unabated coal must close within a few decades if warming is to be limited to less than 2C above pre-industrial temperatures, according to the International Energy Agency (IEA).
To shed light on this story, Carbon Brief has mapped the past, present and future of all the world’s coal-fired power stations. The interactive timeline map, above, shows the plants operating in each year between 2000 and 2017, as well as the location of planned new capacity.
Using data from CoalSwarm’s Global Coal Plant Tracker, it features around 10,000 retired, operating and planned coal units, totalling nearly 3,000 gigawatts (GW) across 95 countries.
by Jude Clemente, November 15, 2018 in Forbes
Even with the Paris climate accords signed in late-2015, global coal demand in 2017 rose for the first time in two years, as reported by the Paris-based International Energy Agency during its annual World Energy Outlook release week.
Global coal use increased in 2017, despite claims it is “dying.”DATA SOURCE: BP; JTC
by Andy May, November 13, 2018 in WUWT
Popular accounts of shale oil and gas reservoirs are often riddled with errors and, even when technically correct, often misleading. As a shale petrophysicist, retired from Devon Energy, I thought I would try and explain, in a non-technical way, how these reservoirs work and why they have been so successful.
Figure 1. Major shale oil and gas plays in the United States. Source EIA.
by P. Homewood, November 9, 2018 in NotaLotofPeopleKnowThat
What are the environmental impacts?
Generally the environmental impact of geothermal developments is extremely low. There are virtually no emissions and land use and visual impact are small. However, some potential impacts do need to be considered and information on each of these issues is set out in the sections below.
All these issues will be fully considered as part of the planning process. Cornwall Council has worked with the industry to develop robust Supplementary Planning Guidance to ensure risks are mitigated and minimised. In addition to planning permission, projects must also obtain the necessary licenses from the Environment Agency.
What is the risk of earth tremors (induced seismicity)?
by Liam Denning, November 1, 2018 in BloomberOpinion
The contrast between the success of the U.S. oil and gas industry and unpopularity in the stock market grows ever starker.
The Energy Information Administration released revised monthly figures for U.S. oil production on Thursday. The headline is that production is up — way, way up. It reached 11.35 million barrels a day in August, fully 2.1 million barrels a day higher than a year before. That’s almost like adding a whole new Mexico in the space of 12 months.