U.S. Energy Information Administration

Sun, 2015-03-22 18:40Steve Horn
Steve Horn's picture

Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia

With some analysts predicting the global price of oil to see another drop, many oil majors have deployed their parachutes and jumped from the hydraulic fracturing (“fracking”) projects rapidly nose-diving across the world.

As The Wall Street Journal recently reported, the unconvetional shale oil and gas boom is still predominantly U.S.-centric, likely to remain so for years to come.

“Chevron Corp., Exxon Mobil Corp. and Royal Dutch Shell PLC have packed up nearly all of their hydraulic fracturing wildcatting in Europe, Russia and China,” wrote The Wall Street Journal.

“Chevron halted its last European fracking operations in February when it pulled out of Romania. Shell said it is cutting world-wide shale spending by 30% in places including Turkey, Ukraine and Argentina. Exxon has pulled out of Poland and Hungary, and its German fracking operations are on hold.” 

Though the fracking boom has taken off in the U.S. like no other place on Earth, the U.S. actually possesses less than 10 percent of the world’s estimated shale reserves, according to The Journal.

Despite this resource allotment discrepency, the U.S. Energy Information Administration (EIA) recently revealed that only four countries in the world have produced fracked oil or gas at a commercial-scale: the United States, Canada, China and Argentina.

Global Shale Fail
Image Credit: U.S. Energy Information Administration

Mon, 2014-05-05 10:33Steve Horn
Steve Horn's picture

For First Time, TransCanada Says Tar Sands Flowing to Gulf in Keystone XL South

TransCanada admitted for the first time that tar sands oil is now flowing through Keystone XL's southern leg, now rebranded the Gulf Coast Pipeline Project. The company confirmed the pipeline activity in its 2014 quarter one earnings call.

Asked by Argus Media reporter Iris Kuo how much of the current 300,000 to 400,000 barrels per day* of oil flowing from the Cushing, Oklahoma to Port Arthur, Texas pipeline is tar sands (“heavy crude,” in industry lingo), TransCanada CEO Russ Girling confirmed what many had already suspected.

“I don’t have that exact mix, but it does have the ability to take the domestic lights as well as any heavies that find a way down to the Cushing market, so it is a combination of the heavies and the lights,” said Girling. “I just don’t know what the percentage is.”

The Keystone Pipeline System — of which Keystone XL's northern leg is phase four of four phases — is and always has been slated to carry Alberta's tar sands to targeted markets. So the announcement is far from a shocker.


Image Credit: Wikimedia Commons

More perplexing is why it took so long for the company to tell the public that tar sands oil now flows through the half of the pipeline approved via a March 2012 Executive Order by President Barack Obama

Sat, 2011-06-11 13:15Carol Linnitt
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Post Carbon Institute Debunks False Hope Of Gas As ‘Bridge Fuel’

Touted by industry as a “clean energy” panacea, unconventional gas is widely heralded as deliverance from air pollution to global warming to foreign energy dependence. It is clean, the drillers say, and there is plenty of it. Descriptions like ‘trillions of cubic feet’ and ‘more than a century’s worth’ are becoming commonplace, used to prop up the vision of a clean, affordable and homegrown unconventional gas future.

But like most things that sound too good to be true, unconventional gas is no exception, as DeSmogBlog pointed out in our own recent report “Fracking the Future.”

Now, continuing to dispel some of the most egregious misconceptions regarding the future of gas, Post Carbon Institute Fellow David Hughes recently released a new report entitled Will Natural Gas Fuel America in the 21st Century?

In his report, Hughes takes on three myths undergirding our gas ambitions: that hydraulic fracturing and horizontal drilling have guaranteed our access to a century’s worth of fuel; that the price of natural gas, which has been historically volatile, will remain low; and that, from a global warming and public health perspective, natural gas is a clean and safe alternative to other fossil fuels.

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