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Tag Archives: U.S. Energy Department

You think the stock market is crazy? Look at oil prices.

FILE - In this July 16, 2015 file photo, an oil pump works at sunset in the desert oil fields of Sakhir, Bahrain. The price of oil slunk to a low of $38.24 on Monday, Aug. 24, 2015, the lowest since the depths of the recession in 2009. (AP Photo/Hasan Jamali, File)

NEW YORK — Commodity markets are renowned for their booms and busts but the last four days in the crude oil market have even experienced traders wide-eyed. The price of oil plunged 8 percent on Tuesday, following a three-day ascent of 27 percent, the biggest such jump in 25 years. “It’s wild!” said Phil Flynn, energy analyst at the Price ...

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OPEC cracks, ready to talk with world producers

Saudi Arabia's Oil Minister Ali al-Naimi talks to journalists before a meeting of OPEC oil ministers at OPEC's headquarters in Vienna. REUTERS/Heinz-Peter Bader.

The stubborn drive of OPEC is finally weaning down as the crude cartel has stated that it’s ready to talk to other producers about crashing oil prices, according to a release from an OPEC publication on Monday. “Today’s continuing pressure on prices, brought about by higher crude production, coupled with market speculation, remains a cause for concern for OPEC and ...

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ND regulator: Industry unlikely to meet flaring target

Image: Joel Tysver

BISMARCK, N.D. — North Dakota’s oil industry likely won’t meet a Jan. 1 target set by new self-imposed rules that require reducing the amount of natural gas burned off as a byproduct of oil production, the state’s top energy regulator said Wednesday. Problems with federal permits, land access permission for planned pipelines, stalled processing plants and increased natural gas production ...

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US Energy Dept gives Cove Point final OK to export LNG

Getty Images via NewsCred

WASHINGTON – The U.S. Energy Department said Thursday it has given the final approval for Dominion Resources to export liquefied natural gas (LNG) from its Cove Point, Maryland plant. The Cove Point plant is investing $3.8 billion in new infrastructure to ship up to 0.77 billion cubic feet of LNG starting late in 2017 to countries with which the United ...

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Sudy: Lifting U.S. crude export ban could boost production, cut gas prices

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NEW YORK – Lifting U.S. crude export restrictions could boost domestic oil production and cut gasoline prices, according to a report issued Friday by Columbia University’s Center on Global Energy Policy. The shale boom has flooded U.S. oil refiners with increased volumes of light sweet oil, which they are not generally configured to run. If rapid oil output growth continue ...

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Future of natural gas industry keeps improving, survey says

natural gas processing site during sunset

The U.S. natural gas industry is gathering steam amid changes and challenges that are remaking the business, according to a new report from Black & Veatch. Last year the Overland Park firm’s annual report on the industry described a cautious optimism about likely growth because of the trove of natural gas being recovered from shale formations in the United States. ...

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North Dakota inching towards flaring ambitions

office space flare

This July, North Dakota set goals to reduce flaring in the state significantly by 2020. The state planned to gradually reduce the amount of natural gas that each well site is allowed to burn off each quarter. According to the U.S. Energy Department, North Dakota was on track to meet these goals as of August. In August, the state reported flaring 28 ...

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US to train veterans to install solar panels

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Josh Lederman | Associated Press WASHINGTON — The U.S. is planning to train veterans to become solar panel installers in the next six years, the White House said Thursday. The jobs training program is among a host of initiatives the White House says will cut carbon dioxide emissions by more than 300 million tons through 2030, plus save billions of ...

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Petra Nova project breaks ground on world’s largest post-combustion carbon capture project

Deputy Secretary Daniel Poneman (sixth from left) joins in the groundbreaking of the world’s largest post-combustion carbon capture facility | Photo courtesy of the Energy Department.

U.S. Energy Department A coal-fired power plant in Texas is on its way to capturing 1.4 million tons of CO2 that previously would have been released into the air. Rather than building an entirely new facility, the Petra Nova project will apply carbon capture technology to an existing coal-fired power plant — helping to advance the technologies that enable cleaner, safer and more ...

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Panhandle nuclear plant puts wind-farm on line

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The Associated Press AMARILLO, Texas — Federal officials have thrown the switch on their biggest array of wind-driven generators at the Pantex nuclear plant in the Texas Panhandle. Plant and Amarillo-area elected officials dedicated the Pantex Renewable Energy Project on Tuesday. The array will generate nearly 47 million kilowatt-hours of electric power each year. That’s enough to fulfill almost two-thirds of ...

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