I’ve never understood this ‘Keep it in the Ground’ movement. I wonder if they even know what they’re talking about by [wanting to keep it] in the ground. Because the reality is that [where the Permian Shale Basin is concerned] you’re talking about keeping in the ground an economy that is somewhere between the size of India and China, and that makes no sense to me. –Allen Gilmer, Forbes, 17 August 2017
An unassuming confluence of pipelines here in the heart of Cajun Country is becoming the most important place in the world for natural gas prices. The Henry Hub has for years been a benchmark for U.S. contracts. Now it is helping to set prices from Mozambique to Japan, as a wave of U.S. natural gas being unlocked by shale drillers reaches Europe, South America, and Asia. Until recently, natural gas markets remained staunchly regional. But that’s changing rapidly. Analysts say the U.S. is set to become the world’s swing supplier of LNG as construction is completed on several new terminals that will chill natural gas until it turns to a liquid that can be carried away on tankers. –Alison Sider and Christopher M Matthews , The Wall Street Journal, 17 August 2017
We should view the Permian Basin as a permanent resource. The Permian is best viewed as a nearly infinite resource – we will never produce the last drop of economic oil from the Basin. We have at least half a trillion barrels in the Permian at reasonable economics, and it could be as high as 2 trillion barrels. That is, as a practical matter, an infinite amount of resource, and it is something that has a huge geopolitical consequence for the United States, in a very good way. It has a huge consequence in terms of GDP, and right now it is creating an American energy global ascendancy. –Allen Gilmer, Forbes, 17 August 2017
China is likely to build two shale gas bases in the south of the country and open up tenders for more oil and gas exploration blocks in the world’s biggest energy producer, the Ministry of Land Resources said on Tuesday. At a news conference in the capital, ministry officials said China is likely to start commercial production of shale gas in the southern city of Anye in Guizhou province and Yichang in Hubei province. The steps come as China ramps up its exploration efforts as crude oil production from aging wells drops. Beijing is also on a mission to lift natural gas consumption to help combat smog. —Reuters, 15 August 2017
Coal is showing signs of a revival and breathing economic life into West Virginia and other coal states. It is becoming more competitive as a fuel source as the price of natural gas has risen 63% since March 2016. —The Wall Street Journal, 16 August 2017
Coal will and should remain the primary source of energy for India in the short to medium term as the fossil fuel remains the cheapest source of energy for India’s development needs, chief economic advisor Arvind Subramanian said on Thursday. Renewable energy, on the other hand, comes with hidden costs, Subramanian said in a lecture organized by think tank The Energy and Resources Institute (TERI). Subramanian called for setting up a global coalition for clean coal technology, mirroring the international solar alliance, which could find ways of sustainable use of coal in power generation. —Gireesh Chandra Prasad, Live Mint, 17 August 2017
Now that Gore is out with a sequel (that is bombing at the box office, so there probably won’t be a sequel Oscar in Gore’s future), it is worth taking in the reflections of two young political scientists at the University of British Columbia who conclude that Gore’s efforts on behalf of climate change have only succeeded in polarizing the issue, and set back the cause of climate action. —Steven Hayward, Power Line, 17 August 2017
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