The U.S. Environmental Protection Agency (EPA) on Monday has finalized the new Tier 3 vehicle emission standards for cars and gasoline that the agency claims will significantly reduce harmful pollution, improve public health and prevent thousands of premature deaths and illnesses and create a cleaner environment, all by reducing the amount of sulfur that’s released into [...]
Researchers at the the Department of Energy’s Pacific Northwest National Laboratory Pacific Northwest National Laboratory can spin algae into oil. A biofuels company, Utah-based Genifuel Corp., has licensed the technology and is collaborating with an industrial partner to create a pilot plant using the technology.
As the renewable electricity generation and electric cars is rising there is also a growing interest in energy storage technology. On Thursday the U.S. Department of Energy released a report on this emerging technology that points out big problems and potential panacea for encouraging energy storage technology development and installation. Lowering the price of energy storage systems and ensuring they are safe to use are among the big obstacles.
In the past, Americans were concerned about running out of energy to keep their cars revving and their homes heated, but with advanced technologies making oil, natural gas and other fossil fuels more abundant, the risk now is that the world might run out of the water needed to generate power.
According to Exxon Mobil the drive for better living standards around the world will increase the demand for electricity and transportation fuels even as economies revive and governments put a price on pollution.
A reviving economy and low prices at the pump have enhanced U.S. gasoline demand in the past months after five years of decline, a change that could continue into 2014. Since 2007, owing to the economic slowdown and expensive gasoline motorists were forced to drive less or buy smaller, more fuel efficient cars but there has been a rise in consumption in the second half of this year
The seemingly limitless supply of natural gas at record low prices has got the U.S. chemical industry to experience a surge of new production capacity. According to Thomas Kevin Swift, Chief Economist and Managing Director at the American Chemistry Council who conducts a weekly tally of new plants and expansions says the other industries that use natural gas as a source of energy are also adding new factories.
According to energy consultancy firm Wood Mackenzie (Woodmac) Coal will outdo oil as the key fuel for the global economy by 2020. In spite of government efforts to abate carbon emissions, increasing demand in China and India will push coal past oil, as the two countries will need the comparatively cheaper fuel to power their economies, while coal requirement in the United States, Europe and the rest of Asia will remain stable.
Business and economy, gas. All know that the latest exceedingly influences the first one, so it comes as no surprise at all that everybody look at the rise of gas with that bitter taste in mouth. Due to latest news aren’t exactly the best ones. Just less than two weeks ago you were reading about Turning point for U.S. oil production, U.S. oil production finally exceeded oil consumption, everybody hardly waited for this to happen, but then this week we get Gas rise.
It goes without saying that the oil industry has brought in gainful revenue for companies engaging in shale oil production. Though it is a tough venture, drilling for shale resources has made the United States a record producer in such a small window of time, will soon exceed Saudi Arabia in terms of liquids production. Companies like EOG Resources (NYSE: EOG) have been leading the charge of the national production boom by concentrating on shale areas in Texas.
It seems that the UK might have a golden goose as IGas Energy Plc informed that it had much more shale gas than initially estimated. This revelation might mean an approaching revolution which in turn will significantly decrease the UK reliance on foreign gas. Thus the country should take advantage of its colossal shale gas reserves.
New tax breaks have brought a wave of investment as BP Plc decided to add two new drill rigs to the North Slope. The project, which is to be wrapped up by 2016, is an essential element of a $1 billion investment plan the British oil giant wants to introduce over the next five years.
We are standing at this point when we just have to either find or develop the fuel of the future. The fact is that mounting concerns over climate changes push us to look for alternative fuels or just fuels of the future. The need is even bigger when we take into account the fact that all reserves of known fossil fuels are slowly running out…
It seems that BG Group Plc is ready to once again to concentrate on exploration and liquefied natural gas (LNG) as it wants to regain its investors’ favor. The company, which is the UK third largest natural gas producer, aims to engage its partners into investment as it will try to expand its operations.
Glencore Xstrata Plc, one of the world’s biggest mining companies, informed that its saw copper output climb staggering 18 percent in the first quarter as its assets in Congo increased significantly the production. Indeed, increased copper production in Africa certainly helped the company enjoy strong first-quarter performance as it seeks ways to expand.
Shareholders of BP PLC had a message from their advisory body Pirac to vote against the compensation sought by the chief executive officer of BP PLC, Bob Dudley, as he demanded a BONUS of £2.6 million in shares and cash for standard performance of the company and poor profit margins.
It seems that Woodside Petroleum grew up to make a decision as it informed that it mothballed its controversial Browse LNG project. The US$40 billion onshore liquefied LNG project was put on hold due to raising ecological controversies and fast-increasing costs.
The UK North Sea gets another lift as Xcite Energy Ltd has informed that its Bentley field is rich in oil, according to the newest estimates. To top it all, the Bentley bed is estimated to be one of the largest heavy oil fields in the United Kingdom. The news awoke investors’ hopes, while shares of the company climbed as much as 12 percent on the report.
If one thinks that renewable energy is the future, then s/he can be surprised with a new decision made by BP Plc. Surprising or not, BP Plc has informed that it wants to get rid of its US wind arm. The sale of the US wind farm assets will close a chapter in the BP’s history of involvement in renewable energy which is also named the fuel of the future. The company intends to fully focus on its oil and gas projects as they are most profitable.