The local government in Lancashire County in England dealt a blow to British efforts to develop shale resources, rejecting a plan from Cuadrilla Resources to use hydraulic fracturing to extract natural gas, The New York Times reports.
As extraction costs decrease and the Energy Department renews focus on research, some scientists say methane hydrates, gas trapped in ice, have strong potential to be a major source of U.S. energy in the future, National Journal reports.
The Alberta Environment Ministry issued a drinking water warning after a storage pond at the Obed Mountain coal mine spilled water contaminated with coal and shale particles into the Athabasca River, Bloomberg reports.
A Reuters survey of energy and financial analysts projected that the cost of Brent crude will average 95 dollars a barrel -- 80 dollars in real terms -- in 2020. That's a drop of 20 dollars since last year's survey, and it's thought due to the shale boom.
COLUMBUS, Ohio (AP) — Ohio Gov. John Kasich's claim that a single energy company could recover $1 trillion worth of oil and gas from the state's shale is an exorbitant overestimate, according to experts interviewed by The Associated Press.
At current oil prices, that figure represents more than four times U.S. oil production last year. Viewed another way, every drop of oil produced in America for the next four years will be worth roughly $800 billion, based on current prices and production rates.
The Obama administration may be backing away from its insistence that future coal-burning power plants use carbon capture technology, settling instead on a requirement for ultra-supercritical technology in the Environmental Protection Agency's Clean Power Plan, E&E reports.
The U.S. Army Corps of Engineers argued that the Environmental Protection Agency's Clean Water Rule lacks a sound scientific basis in memos made public by the House Oversight and Government Reform Committee Thursday, The Hill reports.
The Department of Energy has agreed to rework its proposed efficiency standards for walk-in freezers and coolers, according to the Air-Conditioning, Heating and Refrigeration Institute, which says it has reached a settlement with the DOE over the issue, The Hill reports.
Sen. Martin Heinrich, D-N.M. says some other Democrats may be willing to go along with him and Sen. Angus King, I-Me., in a willingness to support legislation lifting the ban on U.S. crude exports if it also backs renewable energy such as wind and solar, E&E reports.
Despite data from the Energy Information Administration showing that U.S. crude production peaked at almost 9.7 million barrels a day in March, news of an increase in oil rig count this week piled more pressure on prices. U.S. benchmark crude slumped $1.40, or 2.9 percent, to settle at $47.12 a barrel on the Nymex, while in London, Brent dropped $1.10 to $52.26, its lowest settlement since January, The Wall Street Journal reports.
Chevron is getting nearly a third more oil and gas from its wells in the Permian Basin, and is paying less for oilfield services as well—but even so, its second quarter profits dove 90 percent on lower crude prices, FuelFix reports.
Hess has increased its production forecast for its Bakken Shale operations to up to 110,000 barrels of oil equivalent per day, despite the company dropping the number of rigs it’s operating in the play, Platts reports.
Many witnesses testifying at the first Interior Department hearing on the future of the federal coal program—which was attended by Secretary Sally Jewell—said they wanted to see higher royalty rates to raise more money for U.S. taxpayers, High Country News reports.
Senior creditors for Alpha Natural Resources Inc. will loan money to the beleaguered Virginia-based coal company to help it get through bankruptcy, a filing for which could come as early as Monday, Bloomberg reports.
Although Thursday’s peak demand of 67,624 megawatts didn’t break the all-time record as the Electric Reliability Council of Texas had feared, it's been a huge week for demand, and the grid operator expects high usage throughout the summer, FuelFix reports.