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Oil Well Strippers Suffering From Low Oil Prices

Green Car Congress

With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil.

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BP Announces Giant Oil Discovery in the Deepwater Gulf of Mexico

Green Car Congress

BP announced a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico (GOM). The Tiber well is the deepest yet drilled in the industry. The well, located in Keathley Canyon block 102, approximately 250 miles (400 kilometers) south east of Houston, is in 4,132 feet (1,259 metres) of water. Source: BP.

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Nexans Secures Major Frame Agreement with BP Worth Up to $300M for Deep Water Umbilical Projects in the Gulf of Mexico

Green Car Congress

Nexans, a leader in the cable industry, has secured a frame agreement with BP Exploration & Production Inc. for deep water umbilical projects in the Gulf of Mexico that could be worth as much as $300 million in total. and Nexans for the Gulf of Mexico, which ran from 2002 to 2008.

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

Green Car Congress

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.

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KPMG study identifies 10 sustainability “megaforces” with accelerating impacts on business; imperative of sustainability changing the automotive business radically

Green Car Congress

The KPMG study, “Expect the Unexpected: Building Business Value in a Changing World”, explores issues such as climate change, energy and fuel volatility, water availability and cost and resource availability, as well as population growth spawning new urban centers. Source: KPMG. Click to enlarge. billion by 2032.

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Shell Becomes Founding Member of MIT Energy Initiative with $25M Investment

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The agreement establishes Shell as a Founding Member of the MIT Energy Initiative (MITEI), an extension of the collaborative projects Shell has been conducting with MIT in a variety of basic and applied research areas since 2002.

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USGS boosts assessment of recoverable natural gas in Marcellus Shale by 42x from 2002; now 84 trillion cubic feet

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Technically recoverable oil and gas resources are those quantities of oil and gas producible using currently available technology and industry practices, regardless of economic or accessibility considerations. billion barrels of natural gas liquids. the fracking boom) have been significant in the last decade, USGS says.

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