Oil Price Daily News Update
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- The Limitless Potential of the E-Cat: An Interview with Andrea Rossi
- South Sudan Runs out of Time for Oil Transit Alternatives
- Did Libya’s Oil Bubble Burst Already?
- South Korea’s Nuclear Energy Dilemma – Salesmanship Post-Fukushima
- How to Save the US Natural Gas Sector
- New Oil Sands Pipeline is More Carbon Friendly than Shipping
- Plans for a New Pipeline to Rival Keystone XL
- Denmark Increases Carbon Emission Reduction Targets
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The Limitless Potential of the E-Cat: An Interview with Andrea Rossi Posted: 29 Mar 2012 06:54 AM PDT Resource depletion, climate change and rising oil prices have led to large investments in renewable energy and new fossil fuel extraction techniques. However despite the positive headlines on solar, wind, and shale, all of these sectors are beset with problems that add to our uncertain energy future. We appear to be decades away from finding a renewable source that will help us avoid the impending energy crisis.Yet amongst this bleak outlook a relatively unknown Italian inventor could be about to spark an energy revolution?Andrea Rossi appears…
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South Sudan Runs out of Time for Oil Transit Alternatives Posted: 28 Mar 2012 04:37 PM PDT Ongoing border and oil disputes and the halting of oil production by South Sudan has led to renewed clashes between Khartoum and Juba, the specter of another war and the buckling of South Sudan’s underdeveloped economy. On 26 March, clashes erupted between the Sudan People’s Liberation Army (SPLA) of South Sudan and the Sudan Armed Forces (SAF) in a number of border-area hotspots. Fighting is ongoing in the states of Kordofan and Unity, the latter home to the main oil field in Heglig, inside South Sudan but claimed by both sides.…
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Did Libya’s Oil Bubble Burst Already? Posted: 28 Mar 2012 04:32 PM PDT Libyan crude oil production has witnessed a notable uptick since major combat operations ended last year. In mid-2011, at the height of the international conflict, it looked as if the loss of Libyan crude oil could unravel any hopes of a global economic recovery. Crude oil prices have in general increased during the first four months of 2012, though some optimism was expressed because of Libya’s return. With Tripoli headed for its first free election in 40 years, however, nothing is certain regarding the former OPEC giant. OPEC said in its…
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South Korea’s Nuclear Energy Dilemma – Salesmanship Post-Fukushima Posted: 28 Mar 2012 04:30 PM PDT Prosperous, energy poor South Korea, largely bereft of indigenous energy resources, is forced to compete in an increasingly turbulent world market. As the U.S. Energy Information Administration notes, “South Korea was the world’s tenth largest energy consumer in 2008, and with its lack of domestic reserves, Korea is one of the top energy importers in the world. The country is the fifth largest importer of crude oil, the third largest importer of coal, and the second largest importer of liquefied natural gas (LNG). South Korea has…
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How to Save the US Natural Gas Sector Posted: 28 Mar 2012 04:26 PM PDT US natural gas prices are at record lows–about where they were in 1976, and at the low points in the 1990s, in today’s dollars (Figure 1). Figure 1. US wellhead natural gas prices based on EIA data, adjusted to January 2012 price levels using US CPI All Urban Price data. There are several reasons why US natural gas prices are so low: • Our pricing system is based on short-term supply and demand, and storage facilities are limited. It is very easy for supply to overwhelm the system, and prices to drop very low in response,…
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New Oil Sands Pipeline is More Carbon Friendly than Shipping Posted: 28 Mar 2012 04:14 PM PDT It didn’t take long for the oil industry to go to Plan B to get the massive new supplies of Bakken Formation oil in North Dakota and the Canadian Oil Sands to the remaining refineries at the Gulf Coast. It may not overcome the closing of refineries on the US east and west coasts, but the nation will get its own oil and its good neighbour’s supplies refined and off to market. It’s likely a more expensive alternative, but the current administration has made it clear the citizens, the neighbours and the economy are not…
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Plans for a New Pipeline to Rival Keystone XL Posted: 28 Mar 2012 04:09 PM PDT New technologies in shale oil drilling, and the Alberta oil sands means that there is a glut of oil in Canada and the northern US with very few transportation options. This has led to trade prices far lower than world crude prices, and therefore there is an eagerness to get this oil to the coast for refinement and shipping. Following the rejection of approval and the general uncertainty surrounding the Keystone XL pipeline, two companies have now released plans to create a new pipeline which will move crude oil to the Gulf Coast. The $2 billion…
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Denmark Increases Carbon Emission Reduction Targets Posted: 28 Mar 2012 04:06 PM PDT In an attempt to reduce reliance on gas and oil the Danish government has recently announced the “broadest, greenest, and most long-term energy agreement” in its history by increasing its green energy and carbon reduction targets for 2020. By 2020 Denmark now wishes to cut its greenhouse emissions by 34% in comparison to its 1990 levels, whilst also reducing its energy consumption by more than 12% compared to 2006. They also plan to develop renewable heat technology, smart girds, and biogas amongst others, in order to supply 35% of…
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