Analysis by the father of American Geopolitics Dr. Daniel Fine, MIT.

Posts tagged ‘Raleigh’

Oil producers want U.S. to restrict imports


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.”

Advertisements

Energy group hopes to reduce foreign oil imports


by James Fenton

The full article is at–> http://www.daily-times.com/story/money/industries/oil-gas/2016/06/14/energy-group-hopes-reduce-foreign-oil-imports/85855044/

“FARMINGTON – A group of oil and gas executives and energy policy experts from the Texas Panhandle and New Mexico’s piece of the Permian Basin are pushing a plan to restrict seafaring imports of foreign oil from coming into the U.S. in order to stabilize the oil and gas industry and bring back lost oilfield jobs.

The group’s plan, which would exempt crude oil imported from Mexico and Canada, is an effort to push back against the price wars the group said are being waged by OPEC, or the Organization of the Petroleum Exporting Countries, led by Saudi Arabia.

Members met at the School of Energy at San Juan College Tuesday to promote  the “Panhandle Import Reduction Initiative,” which they say could be implemented in multiple phases within 90 days of the next administration, with the ultimate goal of reducing heavy crude oil imports to about 10 percent of demand.

Launched in November, the initiative aims to cut foreign oil imports enough to activate more domestic drilling rigs and boost domestic production to meet current demand levels within four years.

Former state legislator and Four Corners Economic Development Chief Operating Officer Tom Taylor said the drop in natural gas prices eight years ago and the fall of crude oil in 2014, has delivered prolonged pain to the regional economy.

“We find ourselves … in a situation now where we’re down about 6,000 jobs, most of those in the oil and gas industry,” Taylor said of the San Juan Basin. “We have about 11,000 people who have left (San Juan County) … So while we’re down 6,000 jobs and down 11,000 people, we’ve built seven fast-food restaurants, three more under construction, and two big box stores. It’s a different world out there.

“But the fact of the matter is that the economic base of the community is in trouble. And not only is the community in trouble, but the state of New Mexico is in trouble, and not only is New Mexico in trouble but our nation and its security. It’s all tied together. It’s a very difficult situation we find ourselves in when we have one country that can control oil prices. It goes beyond free trade. It’s a problem we need a solution to. We are at the dependence of foreign oil.”

Taylor said about a third of New Mexico’s general fund comes from the oil and gas industry in the form of taxes and fees.”

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

Link

US Gas and oil boom benefits consumers


US Gas and oil boom benefits consumers

After years of steadily rising prices, “low-cost fuel” may seem like an oxymoron.

But thanks to a steady surge in domestic oil and gas production, energy experts say consumers could enjoy inexpensive gasoline and natural gas for years to come.

MAP MASTER“The outlook is for a low-cost energy economy in the U.S.,” said Daniel Fine, associate director of the New Mexico Center for Energy Policy, which is run by the New Mexico Institute of Mining and Technology in Socorro. “This is a long-term trend, not an isolated event, and it’s something almost revolutionary.”

The country’s newfound oil and gas boom, made possible by modern drilling technologies, has helped keep gasoline prices well below the $4-per-gallon peaks that consumers faced just a few years ago. It’s also driven home-heating bills to record lows since 2009.

Now, with production still climbing fast, Fine and others say natural-gas prices will remain moderately low for another five to 10 years at least. And gasoline prices likely will continue to fall into 2014, before stabilizing at somewhere above $2 per gallon for the foreseeable future.

“I believe gasoline will reach $2.35 a gallon or less quite soon, within a year at most,” Fine said.

Gregg Laskoski, a senior policy analyst with the online price-tracking service Gas Buddy, agreed.

“That may seem shocking, but it’s not as outlandish as it sounds,” he said. “The potential is certainly there.” For more of the article use this link—> http://www.abqjournal.com/302397/biz/oil-gas-production-booms.html

Potential Bounty for North Carolina


By Dr. Daniel I. Fine

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.

Read Energy expert Dr. Daniel Fine’s Op-Ed “Potential bounty for North Carolina”now on Shale Gas in North Carolina


Dr. Fine writes “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. and asks the question: 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?

 

DENR: With safeguards, fracking is OK in North Carolina


Great story for Shale Gas creation in America! Pass it on!

RALEIGH State environmental regulators say the process of extracting natural gas from underground shale deposits, known as “fracking,” can be done safely if adequate protections are in place.

That’s the conclusion the state Department of Environment and Natural Resources reached in a study released Friday that legislators last year required it conduct with the Department of Commerce.

But the study cautions that not enough is known about many environmental and economic consequences of the practice of horizontal drilling and hydraulic fracturing. And, it says, because the oil and gas industry has been able to escape some federal environmental laws that apply to other industries, the state must clearly define its regulatory authority in order to protect people from contaminated water and other risks.

Fracking proponents hailed the study as proof that fracking is safe and viable for North Carolina, where it has been prohibited by law.

Tag Cloud