WhatFinger


EIA thinks it will produce 350,000 barrels a day by 2035, but most analysts think that estimate is far too low.

Billions of barrels of untapped U.S. oil



By Steve Hargreaves, senior writer, CNN Money HOUSTON -- In the grasslands of western North Dakota, one of the country's richest oil men is using a controversial gas drilling technology to develop what could be the biggest domestic oil discovery in the last 40 years.

Support Canada Free Press


The oil lies underground in a shale rock formation stretching across western North Dakota, northeast Montana, and into Canada's Saskatchewan Province known as the Bakken. Thanks to hydraulic fracturing or "fracking" and high oil prices, oil production in the Bakken has exploded.

Global natural gas markets are changing, report says

Source: Power-Gen Worldwide Technological advances in the production and transportation of natural gas are bringing new opportunities but the old way of doing business in gas markets is being challenged, according to a report from IHS Cambridge Energy Research Associates (IHS CERA) and the World Economic Forum. The report, Energy Vision 2011: A New Era for Gas, says that advances in unconventional gas production combined with growing liquefied natural gas (LNG) trade are changing long-standing assumptions about natural gas markets around the world. The report also states that the biggest demand for natural gas will come from the power generation industry because it is less expensive and emits fewer greenhouse gases than other fossil fuel sources. As a result of the shale gas revolution, North America has enough recoverable gas to meet current levels of use for more than 100 years. Global LNG trade doubled from 2000 to 2010 and is expected to increase another 50 percent or more in the next decade. Recent advances in technology mean that there is likely to be more gas available at a lower price than was assumed a few years ago.

Europe shale gas: As big as North America

By Nick Grealy, No Hot Air I have often railed here against what I call the CW or Conventional Wisdom of UK energy experts, i.e. those who went through various stages during the shale journey. The CW are those who when they don't make a good living advising the government to spend huge amounts on money on energy, actually are in government themselves, as I used to be. The CW have a vested interest in maintaining the perception that gas is a big problem (cost, security, carbon): Simply put they don't provide anything as messy as solutions since there is easier and better money to be made spinning out the problem. That explains a lot of why while wilful ignorance on shale is rife in the UK, it's getting replaced by outright denial and hostility in some quarters. But CERA are both mainstream and consistently cutting edge on shale. A lot of this must come from the corportate culture of Daniel Yergn's original company which is curious, open and hopeful, instead of close-minded and fearful and classic top down energy thinking. So when CERA, who have always been realistic about shale but, like everyone else unable to come up with some numbers, actually come up with some numbers to put against European shale, they will be listened to.


View Comments

News on the Net -- Bio and Archives

News from around the world


Sponsored