Consol Energy, which has been shedding its coal operations to invest in gas, will use around three fourths of its total capital expenditure this year, nearly $1 billion, to drill for natural gas in the Marcellus and Utica shales in Appalachia, according to COO Tim Dugan, formerly of Chesapeake Energy, Platts reports.
WASHINGTON (AP) — The U.S. trade deficit jumped to a two-year high in April, as exports declined and imports surged to a record high.
The deficit rose to $47.2 billion in April, up 6.9 percent from an upwardly revised March deficit of $44.2 billion, the Commerce Department said Wednesday.
Exports dropped for the fourth month out of the past five, falling 0.2 percent to $195.4 billion. Meanwhile, imports climbed 1.2 percent to an all-time high of $240.6 billion, reflecting record shipment levels of foreign-made cars, food, computers and other goods.
DRAKESBORO, Ky. (AP) — In the shadow of Paradise Fossil Plant's aging smokestacks, where white steam and carbon dioxide rises into the sky, outdated coal-fired generators are being replaced with one that runs on natural gas.
The change in Muhlenberg County, once the nation's top producer of coal, is emblematic of what's been happening across the U.S. as natural gas becomes cheaper and electric utilities try to meet stiffer carbon emissions rules the Obama administration announced this week.
Petrochemical companies operating in North America are getting a leg up over competitors from cheap shale gas, giving them the ability to process low-cost ethane in a steam cracker to get ethylene and other useful derivatives, according to a Standard & Poor’s analysis, Platts reports.
BRUSSELS (AP) — The European Union on Tuesday told Bulgaria to suspend preparatory work on the Russian gas pipeline South Stream, which will bypass Ukraine to bring supplies into the heart of Europe.
EU Commission spokeswoman Sabine Berger said Tuesday that work on the line should not proceed until the Bulgarian government gives clear answers on antitrust concerns over ownership. She added that "the project should be reevaluated in the light of the EU's energy security priorities."
The standoff over Ukraine has forced the 28-nation EU into a sudden rethink of its energy policies to make it less reliant on Russia and its state-owned gas giant Gazprom.
If no deal is reached this week with Gazprom over natural gas prices then Ukraine will bring the matter to a court in Stockholm for arbitration, Prime Minister Arseny Yatseniuk told parliament Tuesday, Reuters reports.
Cheniere Energy’s annual meeting, originally set to take place next week, won’t happen until September because of a lawsuit filed by a shareholder over executive compensation, the company said, according to The Wall Street Journal.
The increase in demand for natural gas as a result of the Environmental Protection Agency’s proposed new carbon rule would come to 3.29 billion cubic feet a day by 2020, according to the Energy Information Administration, but the EIA predicts demand would drop off afterward because of better energy efficiency, Platts reports.
A plan under discussion would resolve the natural gas dispute between Russia and Ukraine and fix the price Kiev would pay for gas from Moscow for a year, according to EU Energy Commissioner Guenther Oettinger, Reuters reports.
Dominion Resources has filed papers with the Federal Energy Regulatory Commission, asking for a start to the review process for the proposed 550-mile natural gas Atlantic Coast Pipeline, The Associated Press reports.
Federal agencies have reduced their greenhouse gas emissions 17 percent compared to levels in 2008, according to the White House Council on Environmental Quality, but they also remain vulnerable to the effects of climate change in different ways, National Journal reports.
As part of their fight to become the top-ranking Democrat on the House Energy and Commerce Committee, Rep. Frank Pallone of New Jersey and Rep Anna Eshoo of California have raised and distributed more than $1.2 million to their colleagues during this election cycle, National Journal reports.
Scientists at the National Institute of Standards and Technology and the National Oceanic and Atmospheric Administration are working on a technique using lasers that would more accurately measure greenhouse gas concentrations, E&E reports.
News of production increases in the U.S. and among OPEC members weighed on oil prices Friday. West Texas Intermediate crude for December delivery finished the Nymex session down 58 cents to $80.54 a barrel, a drop of 12 percent over the whole of October, while in London Brent lost 38 cents to settle at $85.86, Bloomberg reports.
Increased demand is leading SolarWorld Americas to spend $10 million expanding its solar modules plant, and the company announced it will be hiring 200 additional workers as well, The New York Times reports.
To encourage the development of advanced nuclear reactors – anticipated to be more efficient – the Department of Energy is spending $13 million to help major companies including AREVA, GE Hitachi and Westinghouse in their research of the technology, The Hill reports.