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Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

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Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. North America is expected to witness the highest capex globally, with $254.3

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

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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. What Keystone XL would carry. Earlier post.) Greenhouse gas LCA analysis.

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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Source: Maugeri 2012. Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6

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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. —Bartis 2012. Earlier post.). Energy security concerns also may help strengthen existing partnerships (e.g.,

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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. OPEC oil producers are the largest source of additional liquid fuel supply between 2010 and 2040.

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Opinion: This Is What Needs To Happen For Oil Prices To Stabilize

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On September 10 th , the EIA reported a production decline in the Lower 48—essentially shale production—of 208,000 BOPD (barrels of oil per day). That is a staggeringly enormous number, approximately 10 percent of the estimated global over-supply. Yet it received little attention through the week.

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State Department releases Keystone XL Final Supplemental Environmental Impact Statement

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Incremental well-to-wheels GHG emissions from WCSB Oil Sands Crudes Compared to Well-to-Wheels GHG Emissions from Displacing Reference Crudes Click to enlarge. Market analysis: cross-border pipeline constraints have a limited impact on crude flows and prices. million bpd in 2012 and 7.5 million bpd in 2010 to 6.5

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