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UT Austin to lead $58M study of methane hydrate in Gulf of Mexico; $41M from DOE

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A research team led by The University of Texas at Austin has been awarded approximately $58 million to analyze methane hydrate deposits under the Gulf of Mexico. Post-cruise analyses will determine the in situ concentrations, the physical properties, the lithology, and the thermodynamic state of methane hydrate bearing sand reservoirs.

Mexico 294
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Study finds plausibly high volumes of Canadian oil sands crudes in US refineries in 2025 would lead to modest increases in refinery CO2 emissions

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An analysis of the US refining sector, based on linear programming (LP) modeling, finds that refining plausibly high volumes of Canadian oil sands crudes in US refineries in 2025 would lead to a modest increase in refinery CO 2 emissions (ranging between 5.4% to 9.3%) from a 2010 baseline, depending upon the supply scenario.

Oil-Sands 247
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ExxonMobil: global GDP up ~140% by 2040, but energy demand ~35% due to efficiency; LDV energy demand to rise only slightly despite doubling parc

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Significant growth in the global middle class, expansion of emerging economies and an additional 2 billion people in the world will contribute to a 35% increase in energy demand by 2040, according to ExxonMobil’s latest Outlook for Energy report. The Outlook for Energy provides ExxonMobil’s long-term view of global energy demand and supply.

Energy 252
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RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

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However, the US military can play an important role in promoting stability in major oil producing regions and by helping protect the flow of energy through major transit corridors and on the high seas, the reports suggest. Earlier post.). Additionally, U.S.

Price 225
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Perspective: Drive Star Conversion Program Could Cut US Oil Use in Half by 2020

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In a pre-response to that speech, having successfully advocated for plug-in hybrids like the forthcoming Chevy Volt, we propose that the President follow that speech up with a “realistic and conservative” roadmap to halve our oil use in 10 years. Oil is holding us all hostage, economically and physically. Finally, it’s time to begin.

Oil 252
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EIA projects world liquid fuels use to rise 38% by 2040, driven by growth in Asia and Middle East; transportation 92% of demand

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Crude and lease condensate includes tight oil, shale oil, extra-heavy crude oil, field condensate, and bitumen (i.e., oil sands, either diluted or upgraded). oil shale), and refinery gain. per year, as the mature economies react to sustained high fuel prices.

Asia 341
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Opinion: The Shale Delusion: Why The Party’s Over For US Tight Oil

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The party is over for tight oil. Despite brash statements by US producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oil prices as the world production surplus continues. OPEC and US crude oil production.

Oil 150