US needs defense against military biofuel adventures
November 30th, 2012The US Senate has shirked fiscal responsibility by supporting biofuel boondoggles by the military.
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The US Senate has shirked fiscal responsibility by supporting biofuel boondoggles by the military.
Federal support of early-stage energy research and development in the 1980s and ‘90s led to technologies responsible for today’s US oil and gas renaissance, witnesses reminded a US House Science, Space, and Technology subcommittee.
Wider use of enhanced oil recovery in the US could contribute significant additional revenue to the federal budget, a new report by the US Chamber of Commerce’s Institute for 21st Century Energy suggested.
The US Department of the Interior plans to sell leases for wind farms offshore Rhode Island, Massachusetts, and Virginia, marking the first lease sale for wind energy on the Outer Continental Shelf, officials said from Washington, DC, on Nov. 30.
The US drilling rig count lost 6 units during the week ended Nov. 30, with the total number of rotary rigs reaching 1,811, Baker Hughes Inc. reported. This compares with 1,993 rigs working in the comparable week last year.
The US Coast Guard approved another remotely operated vehicle inspection of the Deepwater Horizon wreckage and the Macondo well site, scheduled to start Dec. 3.
OMV AG, as part of a strategic streamlining of its downstream business enabling it to concentrate on exploration and production, has signed an agreement to sell its marketing subsidiary in Bosnia-Herzegovina to NIS, Novi Sad, Serbia (OGJ Online, Jan. 13, 2012).
Oil prices rebounded Nov. 29, pulled up by the broader market, with crude increasing 1.9% to end a 3-day decline in the New York market. Report of an increase in US natural gas inventory drove the new front-month gas contract down 4%.
Reliance Industries Ltd., Mumbai, has sought arbitration in its dispute with the Indian government over oil and gas fields in the deepwater KG-D6 block offshore eastern India after the government imposed a fine of $1.005 billion (OGJ Online, Aug. 13, 2012).