article thumbnail

Low oil prices hurting some US shale operations; slumping oil prices putting pressure on drillers

Green Car Congress

The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. There are now 1,590 active oil rigs, the lowest level in six weeks. 17, compared to the prior week.

article thumbnail

Baker Institute experts: major parts of the US shale sector will ramp up with $60 oil prices

Green Car Congress

If West Texas Intermediate (WTI) crude oil prices stabilize at or above $60 per barrel, major parts of the United States shale sector that are currently dormant will ramp up, according to an analysis by experts in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. Baker III and Susan G.

article thumbnail

State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

Green Car Congress

The US Department of State (DOS) has released its Draft Supplemental Environmental Impact Statement (SEIS) in response to TransCanada’s May 2012 application for the Keystone XL pipeline that would run from Canada’s oils sands in Alberta to Nebraska. The pipeline would primarily transport crude oil from the WCSB and Bakken regions.

article thumbnail

IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

Green Car Congress

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4

Oil 150
article thumbnail

Cleantech Blog: Smart Grids and Electric Vehicles

Tony Karrer Delicious EVdriven

High-Speed Rail Unlocks Intermodal Potential Texas Excess Ford Expands Hybrid Success to Electric Vehicles ► March (17) Carbon Capture and Storage: To Be or Not To Be? Millions of EVs and PHEVs would expand the sale of electricity as an alternative to oil. No more Big OIL - think of the extra money stimulating the economy!

Grid 28
article thumbnail

Opinion: Political Climate Shifting Against The Oil And Gas Industry

Green Car Congress

Oil and gas companies have had a tough time over the past year trying to weather the storm of falling oil prices. Drilling oil and gas wells requires a lot of money. For companies that have seen their revenues vanish because of collapsing oil prices, access to credit is obviously critically important.

Oil 150