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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Oil production is expected to begin in late 2021. In 2013, BP (operator, with 60.5% —Bob Dudley, BP Group Chief Executive.

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Cascadia Capital forecasts flurry of MA and commercialization in clean tech in 2011; US Congress to discard Cap and Trade

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the future of the economy and the environment. Rising Oil Prices Lead to Investments in Natural Gas. Oil markets are traditionally sensitive to a pick up in economic activity. As the economy continues to slowly improve over the next 12 months, Cascadia predicts that oil will hit $100 per barrel.

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New UC Davis market-based sustainability forecasting approach concludes supplanting gasoline and diesel with renewable fuels could take 131 years

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At the current pace of research and development, replacing gasoline and diesel with renewable fuel alternatives could take some 131 years, according to a new University of California, Davis, study using a new sustainability forecasting approach based on market expectations. The forecast was published online 8 Nov. —Deb Niemeier.

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Worldwide heavy oil reserves by country.

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Toyota Plug In

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more ) M eanwhile, in the United States, the political environment to support plug ins continues to grow. "On New York Times columnist Thomas Friedman; Jon Wellinghoff, commissioner, Federal Energy Regulatory Commission; and CEOs and top executives from Ford, General Motors, Federal Express, and Southern California Edison.

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EPA announces 2011 Presidential Green Chemistry Challenge Awards; green chemistry market opportunity projected to be $98.5B by 2020, about 2% of total market

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Furthermore, the Bio-BDO fermentation process operates near ambient pressure and temperature, thus providing a safer working environment. Genomatica expects Bio-BDO to be competitive at oil prices of $45 per barrel or at natural gas prices of $3.50 Lipshutz, PhD, University of California, Santa Barbara.

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Antelope Valley Transit orders up to 85 electric buses from BYD; first US all-electric public transit fleet

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The board of directors of the Antelope Valley Transit Authority (AVTA) in California voted to award BYD a contract to manufacture up to 85 electric buses over a five-year period. Safer Work Environment for Technicians: The electric batteries are safe, thermal runaway proof, non-toxic, and maintenance free.