Posts tagged ‘North carolina’
By Kevin Robinson-Avila / ABQ Journal Staff Writer
The full story is here-> http://www.abqjournal.com/803674/oil-producers-want-u-s-to-restrict-imports.html
“ALBUQUERQUE, N.M. — New Mexico and West Texas oil producers are gearing up for a national effort to draw all major U.S. oil basins into a grassroots movement to restrict crude imports from overseas.
Leaders of the Panhandle Import Reduction Initiative, which launched in April in the Permian Basin, are seeking public meetings and rallies in other oil-producing zones to convert what’s now a regional initiative into a national movement, said Daniel Fine, associate director of the New Mexico Center for Energy Policy, who is working with local producers.
Those efforts will kick off in September with a presentation at the fourth Southeastern New Mexico Energy Summit in Carlsbad. After that, initiative leaders expect to hold public meetings in other shale oil basins, including the Bakken in Montana and the Dakotas and the Eagle Ford in South Texas.
“We’ll take it to Carlsbad first, and then it goes national,” Fine said. “We want to organize public rallies with producers and field workers whose jobs are at stake. This is a grassroots effort in the basins where the oil bust has taken place.”
The initiative is a reaction to the Organization of Petroleum Exporting Countries’ aggressive oil-pumping policies since mid-2014, which have helped drive global oil prices to ten-year lows and thrust domestic U.S. production into crisis. Initiative leaders say those policies were a deliberate effort by the mid-Eastern members of OPEC, particularly Saudi Arabia, to drive U.S. producers out of business.
Banning crude imports from overseas would undercut OPEC’s ability to manipulate prices, they say, and allow U.S. producers to ramp up domestic production to supply the U.S. market.”
New Mexico has a wealth of energy resources. And now it has a comprehensive plan to help guide development of those riches to grow the state’s economy.
Last week at the 2015 Southeastern New Mexico Mayor’s Energy Summit in Carlsbad, Gov. Susana Martinez laid out a broad “all of the above” energy policy. “There is no reason we shouldn’t be an energy leader,” she later told attendees at the eighth annual Domenici Public Policy Conference in Las Cruces.
Her plan embraces a wide range of energy sources, ranging from oil and gas to solar, wind and up-and-coming technologies, such as “small modular reactors,” which must still be approved by the federal Nuclear Regulatory Commission.
While the oil and gas industry has been – and still is – the backbone of the state’s energy economy (accounting for more than a billion dollars in revenues to the state each year), it’s clear there is plenty of opportunity for the growing renewable energy sector given New Mexico’s abundant sunshine, miles of windswept open spaces and nuclear experience and expertise.
One of the keys is development of more infrastructure – electricity transmission lines to move power generated by wind and solar, and new refineries and improved roads, rail and pipelines to transport resources in and out of the energy-producing areas in the southeastern and northwestern parts of the state.
It also proposes deployment of new battery storage technologies and exporting coal as utilities start using less of that resource as a result of agreements with the federal government to reduce greenhouse gas emissions and improve air quality.
Gov. Martinez of New Mexico unveils ‘all-of-the-above’ energy plan; first plan in 25 years “There is no reason we should not be an energy leader”
For the complete article use this link–> http://www.abqjournal.com/643822/biz/biz-most-recent/gov-martinez-to-unveil-new-state-energy-plan.html
ALBUQUERQUE, N.M. — Gov. Susana Martinez on Monday unveiled a broad “all-of-the-above” plan to develop New Mexico’s energy resources, the first such comprehensive policy outline for the state in 25 years.
The governor recommended a broad array of strategies and policies that includes traditional fossil fuels, such as oil, natural gas and coal, and renewables, such as wind and solar, and new technologies, such as “small modular reactors,” to harness nuclear energy.
It’s all about building and diversifying New Mexico’s economy to provide well-paying jobs, Martinez said.
“New Mexico is one of the most energy-rich and energy-diverse states in the nation, and we have an excellent opportunity to utilize this position to grow our economy and create more jobs,” Martinez said in a prepared statement.
“Improving our energy infrastructure, responsibly developing and producing energy of all types and better preparing our workforce for the needs of our energy sector are all critical components not only of a strong economic future, but of helping lead America to energy independence.”
Responses to the plan are likely to be varied, given the broad range of policies it promotes.
Oil and natural gas won’t be the only game in town under a new state energy policy unveiled Monday by Republican Gov. Susana Martinez.
“New Mexico is one of the most energy-rich and energy-diverse states in the nation, and we have an excellent opportunity to utilize this position to grow our economy and create more jobs,” Martinez said in a statement before detailing elements of the plan during an annual energy summit in southeastern New Mexico.
More than a year in the making, the plan stems from several listening sessions around the state. Some 450 people representing industry, state and local governments and other interests participated.
David Martin, secretary of the state Energy, Minerals and Natural Resources Department, acknowledged the continued importance of oil and gas development to the state’s bottom line but said things are much different now than when New Mexico’s last energy policy was adopted in 1991.
Martin cited the frustrations that come along with the cyclical nature of oil and gas and global pressures that are out of the nation’s control. Earlier this year, state lawmakers saw the amount of new money available for spending on schools and other government programs slashed by tens of millions of dollars due to drops in the price of oil.
Martin said the hope is that the new policy will help protect against volatility in one market or another.
The plan indicates the state will be looking for new markets — from exporting coal and natural gas to other states and possibility across the Mexican border to the feasibility of small nuclear reactors.
Column: Geopolitical events demand rapid response from unconventional producers by oil and gas expert Dr. Daniel Fine -Special to the Daily-Times-
For the complete article by Dr. Daniel Fine use this link-> http://www.daily-times.com/four_corners-news/ci_28389990/column-geopolitical-events-demand-rapid-response-from-unconventional?source=most_viewed
The Saudi-OPEC price war is now nine months old. Two OPEC meetings have passed without revisions or changes in strategy. It is a war against high-cost unconventional American producers that are seen as the principal threat to market share.
The West Texas Intermediate price per barrel has recovered since the low of the mid-$40 bottom to slightly above $60. This has become a trading range with algorithms following momentum making a price range. Financial or paper traders and speculators have moved the price of oil in a “rally” up $15.
Oversupply still overshadows the market. The balance of supply and demand awaits the onset of winter or 2016. The market share for OPEC and Saudi Arabia continues to expand at the expense of non-OPEC producers, but American shale or unconventional production has not declined to the point that an acceptable world balance between supply and demand appears to be in the making.
The CEO of Conoco Phillips was invited to the recent preliminary OPEC meeting and he challenged the producer countries with a warning: American “high cost” production will survive the price war with cost-saving efficiency already in process and yet to come. This promises American oil supply at less cost and a prospect of little change in world supply while demand remains weak and possibly weaker with China importing less crude as well as iron ore and other commodities.
What is now at play in oil price formation is geopolitics.
Dr. Daniel Fine, associate director of the New Mexico Center for Energy Policy and policy lead for the New New Mexico Energy Policy, explains how an oil price war led by Saudi Arabia impacts the prospects for drilling off the N.C. coast. Fine offered these comments during a May 21, 2015, speech to the John Locke Foundation’s Shaftesbury Society. Video courtesy of CarolinaJournal.tv. Access full-length videos of JLF presentations here:
The John Locke Foundation presents The GeoPolitics of Oil Price-Resource War with oil and gas expert Dr. Daniel Fine RSVP NOW!
The John Locke Foundation presents
The Geopolitics of Oil Price-Resource War
In this presentation, Dr. Fine will discuss Saudi Arabian market share strategy and its threat to U.S. higher-cost shale oil. He will review how it began, the impact on new capital expenditure and drilling, how American technology is fighting back, and the impact on the Western states.
About Dr. Fine
Dr. Daniel Fine is the Associate Director of the New Mexico Center for Energy Policy and is a Senior Policy Analyst in the New Mexico State Department of Energy Minerals and Natural Resources. He has given testimony on strategic natural resources before the U.S. Senate Committees on Foreign Affairs and Energy and Natural Resources. Dr. Fine is co-editor of Resource War in 3-D: Dependence, Diplomacy and Defense, and has contributed to Business Week, the Engineering and Mining Journal, The Washington Times and the Energy Magazine/Daily Times, Farmington, New Mexico. Dr. Fine participated in the Atlantic Council Workshop on Central Asian Energy Policy and the Hudson Institute Russia-United States Relations Project (Oil and Gas). He was a member of the Director’s Advisory Board of the South Carolina Research Authority and a Research Associate at the Massachusetts Institute of Technology (Energy and Materials). He was also a contributor to the Harvard University Business School Study on Energy Futures.
Shaftesbury Luncheon talks are free and open to the public. An optional lunch is available for purchase at the event, or participants may brown bag a lunch if they choose.
Purchase Tickets for this Event Online -> http://www.johnlocke.org/events/event.html?id=1035
What do money markets, antiques, gold, corn, wheat, and stocks in companies like Google or Apple have in common? They’re bought by speculators.
And yet speculators, especially in oil, have become the bogeyman of economics. On tomorrow’s I Spy Radio Show (11-noon, kykn.com), we talk with Dr. Daniel Fine about America’s energy resources and energy policy. What role dospeculators have in the price of oil?
To hear Dr. Fine on I spy Radio click on this link—–>
Guest & Links mentions on the show
- Dr. Fine’s article on the effect of oil speculators
- Another great article (not mentioned on the show): America’s Energy Disaster from the National Review Online
- Listen live on the radio, Saturdays 11-noon (Pacific time) via 1430-AM in the greater Salem Area (Corvallis to Tigard, Lyons to Grand Ronde)
- Listen live from anywhere in the world via kykn.com (11-noon on Saturdays) via the “listen live” tab up top of web page
- Download the show after it airs. Just go to the Current Show page. The download link becomes active shortly after noon each Saturday.
Nearly 40 years ago, when the first oil price shock from the Middle East and OPEC disrupted the American economy, North Carolina and Appalachia briefly became an oil and gas frontier. Following geological investigations, Chevron drilled an exploratory well in the Deep River Basin beneath Lee County, N.C. Oil was discovered at 5,000 feet, but it contained excessive paraffin and Chevron plugged the well.
It remains there today as a new natural gas and oil technology has emerged: the capability of opening tight rock formations or shale through hydraulic fracturing and horizontal drilling.
Why is North Carolina not yet a site for drilling rigs, mud and service companies? Why is there shale gas exploration and production in the Marcellus Shale in Pennsylvania and West Virginia, and on different rock formations in Arkansas, Texas and in the Rocky Mountains?
The answer is political.