Sometimes all you have to do is join the dots. Letâs take three different headlines from yesterday, which are all from the Guardian newspaper in the UK. Headline number one: â’Golden age of gas’ threatens renewable energy, IEA warnsâ The article went on to state: âA âgolden age of gasâ spurred by a tripling of … Read More
Gas
The $13 Billion Bill for Elgin Gas Spill
Oil companies operating in the North Sea could face an estimated $13 billion (Euros 10 billion) bill in light of the Elgin gas spill which could also seriously affect their credit ratings, according to rating agency Fitch. Total’s Elgin platform in the North Sea has been leaking gas since last month with some estimates that … Read More
Africaâs New Scramble for Gas
Some twenty five years ago when Amoco were exploring for oil offshore Somalia, the company was convinced that the waters of East Africa contained vast reserves of oil and gas. But its exploration was unsuccessful, Somalia was ripped apart by civil war and the waters of East Africa, once the tranquil domain of dhows and … Read More
The Hidden Danger of the Gas Boom
The hype surrounding the US gas industry continues to grow as America moves ever closer to its cherished dream of energy independence. Yesterday, Bloomberg reported that âthe U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo … Read More
British LNG Imports at Risk in Gulf Crisis
More on the growing Iranian crisis. Brent crude is rising this morning due to worries over serious disruptions to the supply of crude after Iran warned its Arab neighbours of âconsequencesâ if they raised oil output to replace Iranian loses through international sanctions. As the US has increased diplomatic pressure on countries that import Iranian … Read More
Shale Gas Investment is âEye-Wateringâ
The worldâs largest mining company, BHP Billiton has signalled it too wants to get in on the shale gas revolution sweeping the US, despite the growing controversy over fracking. In a deal announced late last week, BHP agreed to pay $12.1bn for Houston-based gas developer Petrohawk, with a view to spending nearly $50 billion developing … Read More
China To Start Fracking Too
What a difference a day makes. Last week, the FTâs âEnergy Specialâ pull-out included an article on Chinaâs potential for shale gas. The article quoted a recent report from the investment bank, Jefferies which said: âUnconventional gas is a dream come true for Chinaâs energy policymakers,â but then the report added âChina does not need … Read More
Shell’s Pipeline At War With the People
On and off for twenty years I have written about the oil industry. I have worked with communities from Alaska to Africa who have been threatened by Big Oil. So often the stories are the same: an industry that is indifferent to local concerns and needs. It is an industry that bullies and effectively bribes … Read More
UK Gov Dismisses Fracking Inquiry Call
Another day and another review has been ordered into the controversial technique called fracking. Last week, the Governor of Maryland established the âMarcellus Shale Safe Drilling Initiativeâ, which will review the safety of the drilling technique for natural gas from the Marcellus Shale in Western Maryland. âWe are also very concerned about an array of … Read More
Gas is No “Panacea” For Climate Change
As the old saying goes âIf it walks like a duck, quacks like a duck, looks like a duck, it must be a duck.â And if it smells like a fossil fuel and is produced by the fossil fuel industry, then it probably is a fossil fuel. So despite the best efforts by the oil … Read More