General Oil, Gas and CERAweek

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Markey Report: Oil Companies Pocketing Billions of Dollars in Free Drilling

The gubmint decides that, since they can't sell and acre of lease due to the low price of oil, they need something to get some drilling done. Therefore they offer "no royalty" leases at a time oil is selling for under $20/bbl. They sold their leases. making a mint on the sale, wells were drilled that otherwise would not have been and the public had gasoline for their cars.

Now dead-head Markey wants the money back.

But... He got his head handed to him again - thankfully. Don't make a bargain and then break your word dEaD.

“The Deep Water Royalty Relief Act was a good example of sound, constructive energy policy that was very successful in establishing a reliable source of domestically produced energy,” said John Christiansen, spokesman for Anadarko. “Without the DWRRA incentives that spurred these long-term investments, much of the domestic production in these frontier areas of the deep-water Gulf of Mexico would not exist today.”

Moreover, he said, the lease bonuses, royalties and income taxes on deep-water production paid to the federal government from other wells still total in the billions of dollars “and have grown markedly since 1995.”

Another useless individual.....

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Layers of energy topics will fuel CERAWeek conference in Houston

In all, more than 200 people from 55 countries are scheduled to speak, divided between keynote addresses and panel discussions at the conference, which will be at the Hilton Americas.
More than 2,000 people are expected to attend at least some portion of the five-day event; registration rates range from $4,500 to $7,250.

A study released by IHS in December found that while many of the economic benefits from the latest boom in shale drilling are in the 16 states with unconventional oil and gas production, other states also have related economic activity.

The study found that 32 states in the lower 48 lack major unconventional oil and gas activity, and yet still gained nearly 500,000 jobs through businesses that sell
goods and services critical to the supply chain for unconventional oil and gas development.

That compares with 1.3 million energy-related jobs in the 16 producing states, led by Texas and including North Dakota, California, Colorado and Oklahoma.

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IHS CERAWeek 2013

The energy industry is undergoing a profound transformation driven by new technologies, shifts in global demand, regulatory uncertainties, and the new realities and cost structure of supply. At the same time, growing economic uncertainty, particularly in Europe and emerging Asia — along with geopolitical tensions in the Middle East, Asia, Africa, and Latin America — all pose new risks and challenges as companies invest to meet future energy needs.

IHS CERAWeek 2013 will offer new insight on the energy future — and on the strategic and investment responses by producers, consumers and policy-makers. What are the changes ahead in the competitive landscape for oil, natural gas, coal, renewables, and nuclear power? How will the global unconventional oil and gas revolution change the game for all energy participants? What will be the fuel and technology choices of the future?

IHS CERAWeek is the leading gathering of senior energy decision-makers from around the world. It provides presentations from over 300 speakers — including senior industry executives, government officials and thought leaders — on the changing energy playing field. IHS CERAWeek 2013 will be a timely gathering that delivers unparalleled insight, critical analysis, and clarity on the future of energy in a changing world.

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Predictions for 2013: higher natural gas prices, more U.S. manufacturing

In a preview of the sessions planned for the CERAWeek energy conference, IHS analysts offered a few predictions for the year — rising natural gas prices in the United States, growing diversification of China’s power sector and continued questions about how quickly the North American shale revolution will spread to the rest of the world.

Monday’s opening sessions of the IHS CERAWeek 2013 raised questions speakers will address in more depth throughout the week.

But the opening speakers also offered a few other predictions.

John Larson, vice president for economic and public sector consulting at IHS, suggested that the United States is poised for a major manufacturing renaissance.

“I think you’ll see more onshoring, displacing imports,” he said.

That’s already started to happen as petrochemical companies and others take advantage of cheap natural gas, which many companies use as both a source of fuel and as a feedstock. Larson suggested that’s likely to grow, even as the U.S. economy may continue to struggle.

More than 2,000 people are expected to attend at least a few days of the five-day conference, which continues through Friday at the Hilton Americas. It will include more than 300 speakers, ranging from wonky researchers to top CEOs, including Microsoft founder Bill Gates and General Motors CEO Daniel Akerson, although one speaker, MIT physicist Ernest Moniz, withdrew over the weekend.

He had a good excuse: President Obama nominated him Monday as energy secretary.

Cambridge Energy Research Associates started the annual CERAWeek conference in 1982, and the event continued after CERA was acquired in 2004 by IHS, formerly called Information Handling Services.

The conference will cover big themes — oil, natural gas, electric power — and the role that innovation will play in all of those. Exports of liquefied natural gas will come up in several guises, as will the challenges of transporting the new bounty unleashed by new drilling techniques.

“Oil and gas are going to be part of the mix a lot longer than people thought even a few years ago,” conference chairman Daniel Yergin said in an interview last week, noting that oil production is up 40 percent since 2008.

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Amid oil boom, Saudi Aramco urges resilience - or 'The way we see it, don't upset our apple cart.'

Does he really believe he can sell that soap?

“The age of austerity has seriously affected government support for renewables,” Al-Falih said.
Though the company’s renewable efforts are in their infancy, Al-Falih said that would change.
“As they become more affordable — and they will become more affordable in the long term, I believe — renewables will have an important role to play in the long term and we are committed to invest in their development,” he said.

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A quick note to those who feel put upon by "Big Oil" - Guess what? it's more where you live......


Why Gasoline Prices Are So Different Around the US

“The fact that a refinery in the Midwest can process crude oil that costs $30 less than on the East Coast is a big factor in the wildly divergent price of that refined fuel,” Kloza says.

I've noted the same brand in SE Texas being 30-40 cents cheaper then in Arlington VA.


Then lets nor forget the taxes either.

From a low of 8 cents to a high of half a buck - just for the states.