Posted in energy policy, tagged SPR depletion, SPR milestones, Strategic Petroleum Reserve on October 13, 2022| Leave a Comment »
SPR “Milestones” update:
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.
Posted in energy policy, Offshore Energy - General, tagged 5 year leasing plan, BOEM, Jamie Dimon, JPMorgan on October 12, 2022| 1 Comment »
“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,
Posted in climate, energy policy, tagged BlackRock, Jeff Landry, John Schroder, Louisiana 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:
Posted in climate, energy policy, Gulf of Mexico, Offshore Energy - General, tagged 5 year leasing plan, OCSLA, OPEC 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.
Posted in energy policy, tagged decrease, oil production, OPEC+ on October 5, 2022| Leave a Comment »
Posted in energy policy, tagged dubious milestones, SPR depletion, Strategic Petroleum Reserve on October 5, 2022| Leave a Comment »
Posted in accidents, energy policy, pipelines, tagged German Navy, NordStream, pipeline leaks, Russia on September 29, 2022| Leave a Comment »
Germany’s navy is contributing to the investigation into the Nord Stream 1 and 2 gas pipeline leaks, said Defence Minister Christine Lambrecht, who added that the situation must be clarified and those responsible must be identified quickly.
Reuters
Russia’s FSB security service is investigating the damage sustained by the Nord Stream gas pipelines under the Baltic Sea as “international terrorism”, the Interfax news agency cited the general prosecutor’s office as saying on Wednesday.
Reuters
Meanwhile, “the U.S. is supporting efforts to investigate,” whatever that means.
Here is Al Jazeera’s summary video:
Posted in energy policy, Offshore Energy - General, tagged Adriatic, Giorgia Meloni, Italy, offshore gas on September 26, 2022| Leave a Comment »
Meloni at the rally said Italy should exploit gas resources in the Adriatic Sea and not just look to buy gas from countries like Algeria, as Draghi has done, to wean Italians from supplies from Russia, given that country’s war against Ukraine.
AP
Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged BOEM, CCS, Exxon, Lease Sale 257 on September 22, 2022| Leave a Comment »
Which bid was rejected? BOEM announced that 307 of the 308 high bids were accepted. One bid was rejected on fair market value grounds. The unsuccessful bid is not specified on the Sale 257 web page.
When can we expect a statement from Exxon on their intentions for the 94 blocks they acquired? Those 94 blocks (31% of the entire sale) are the elephant in the room, yet we have heard nothing from the company. Given Exxon’s apparent interest in using these leases for CCS purposes, and the tax credits and Federal funding associated with CCS projects (as per the Infrastructure Bill and Inflation Reduction Act), clarification regarding Exxon’s intentions would seem to be appropriate.
Posted in climate, energy policy, tagged climate, Jamie Dimon, JPMorgan on September 21, 2022| Leave a Comment »
Rep. Rashiba Tlaib: “Does your bank have a policy against funding new oil and gas products?” (I assume her script said “projects,” and that she misread it. She also butchered “Celsius,” a word that should be very familiar to such a climate expert.)
Jamie Dimon: “Absolutely not and that would be the road to Hell for America.”
Bud's Offshore Energy (BOE) 