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Archive for the ‘energy policy’ Category

This will reduce the SPR to <400 million (from 727 million bbls when full) for the first time since May 1984

Posted in energy policy, tagged , on October 19, 2022| Leave a Comment »

As of 10/14/2022, the SPR inventory was 405.1 million barrels.

President Biden will announce on Wednesday that he is releasing 15 million more barrels of fuel from the Strategic Petroleum Reserve, a move aimed at easing gas prices three weeks before voters anxious over rising costs head to the polls as Democrats have been battered by GOP attacks on the economy.

WP

One objective is to support domestic drillers😀😀😀

The administration is also expected to release further details on timing for refilling the stockpile, reflecting its desire to combat rising pump prices while also supporting domestic drillers with future demand for their oil, they said.

Reuters

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Danish police confirm that powerful explosions caused the Nord Stream pipeline leaks

Posted in energy policy, pipelines, tagged , , , on October 19, 2022| Leave a Comment »

Still no clues as to the responsible parties.

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Expect this type of behavior to continue

Posted in climate, energy policy, Offshore Energy - General, UK, Uncategorized, tagged , , , on October 17, 2022| Leave a Comment »

Two supporters of Just Stop Oil have thrown soup over Vincent Van Gogh’s Sunflowers, as actions in the capital roll into the 14th day. They are demanding that the UK government halts all new oil and gas projects.

Just Stop Oil

Why these stunts will continue in Europe and N. America:

  • Minimal penalties for their behavior.
  • Publicity and contributions. (Donate buttons are the main feature of JustStopOil)
  • Prominent supporters and leading political figures have endorsed their message, if not their conduct.
  • Weak, imbalanced educational systems, particularly with regard to energy.

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OCS Wind Program: the beginning

Posted in energy policy, Offshore Energy - General, Wind Energy, tagged , , , , , on October 14, 2022| Leave a Comment »

The need for alternate energy/use legislation was obvious to Minerals Management Service (predecessor of BSEE and BOEM) personnel decades ago given the growing interest in renewable energy projects and the reuse of offshore platforms. Twenty years ago, MMS staff took the initiative to draft alternate use amendments to the OCS Lands Act that MMS Director Johnnie Burton and the congressional liaison office worked closely with Congresswoman Barbara Cubin of Wyoming to gain support for the amendments and they were adopted as part of the Energy Policy Act of 2005

Attached below are the talking points used by MMS in briefing congressional staff and other agencies. These talking points were spot-on and have endured the test of time.

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Declining SPR nears the 400 million barrel mark

Posted in energy policy, tagged , , on October 13, 2022| Leave a Comment »

SPR “Milestones” update:

  • Largest-ever one year SPR decline – 208 million bbls or 33.7% (10/8/2021 to 10/7/2022)
  • 43.7% decline since 2010
  • 79 consecutive weeks of decline – 4/9/2021 to 10/7/2022
  • Lowest inventory since 6/15/1984

Don’t forget that in the spring of 2020 the previous administration proposed to refill the SPR to maximum capacity of 727 million barrels at $24 per barrel, but Congress failed to authorize the purchase.

Above numbers are end of year volumes except for 2022 which is as of 10/7

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Does this count as a comment on BOEM’s 5 Year OCS leasing plan? It should!

Posted in energy policy, Offshore Energy - General, tagged , , , on October 12, 2022| 1 Comment »

Jamie Dimon, CEO JPMorgan Chase

“In my view, America should have been pumping more oil and gas and it should have been supported,” Dimon told CNBC’s Julianna Tatelbaum at the JPM Techstars conference in London.

“We have a longer-term problem now, which is the world is not producing enough oil and gas to reduce coal, make the transition [to green energy], produce security for people,” he said.

“I would put it in the critical category. This should be treated almost as a matter of war at this point, nothing short of that,” he added.

“This is the chance to get our act together and to solidify the Western, free, democratic, capitalist, free people, free movements, freedom of speech, free religion for the next century,” he continued.

“Because if we don’t get this one right, that kind of chaos you can see around the world for the next 50 years.”

Jamie Dimon, CEO, JPMorgan Chase,

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Louisiana to BlackRock: We’re out!

Posted in climate, energy policy, tagged , , , on October 6, 2022| Leave a Comment »

Louisiana treasurer John Schroder said Wednesday he would pull $794 million of state money from BlackRock Inc. funds.

“Your blatantly anti-fossil fuel policies would destroy Louisiana’s economy,” Mr. Schroder wrote.

WSJ

Here is the pertinent guidance from Louisiana Attorney General Jeff Landry:

2022.08.30-agguidanceonesg_finalDownload

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Just as the comment period on BOEM’s 5 year leasing program closes (today), OPEC (again) reminds us of the importance of US production

Posted in climate, energy policy, Gulf of Mexico, Offshore Energy - General, tagged , , on October 6, 2022| Leave a Comment »

Planned obsolescence, as justification for the minimalist leasing program (see below), is neither prudent nor consistent with the OCS Lands Act.

“The long-term nature of OCS oil and gas development, such that production on a lease can continue for decades makes consideration of future climate pathways relevant to the Secretary’s determinations with respect to how the OCS leasing program best meets the Nation’s energy needs.“

5 Year Leasing Program, p.3

Basing offshore leasing decisions on “future climate pathways” is a high risk strategy that may be inconsistent with the recent SCOTUS decision in West Virginia vs. EPA. A planned or phased shutdown of the offshore oil and gas program would dramatically increase economic and security risks, and has not been authorized by legislation.

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Updated OPEC+ production table as a result of today’s 2 million bopd reduction

Posted in energy policy, tagged , , on October 5, 2022| Leave a Comment »

production-table-33rd-onommDownload

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Updated Strategic Petroleum Reserve “milestones”

Posted in energy policy, tagged , , on October 5, 2022| Leave a Comment »

  • Largest-ever one year SPR decline – 203 million bbls or 32.8% (9/24/2021 to 9/30/2022)
  • 42.8% decline since 2010
  • 78 consecutive weeks of decline – 4/9/2021 to 9/30/2022
  • 84 million bbls below the strategically important 500 million barrel threshold which was first breached (on the downside) on 6/24/2022
  • Lowest inventory since 7/6/1984 when the SPR was being filled
Above numbers are end of year volumes except for 2022 which is as of 9/30

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