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Exxon Mobil Acquiring XTO Energy in $41B Deal; Enhances US Position in Unconventional Natural Gas and Oil

Green Car Congress

The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources. XTO is a US producer engaged in the acquisition, exploitation and development of quality, long-lived oil and natural gas properties in the United States.

Oil 186
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MIT and IEA reports take different views of the future of natural gas in transportation

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MIT and the IEA both have newly released reports exploring the potential for and impact of a major expansion in global usage of natural gas, given the current re-evaluation of global supplies. The IEA takes a more conventional approach, assessing the impact on the penetration of vehicles burning gas as their fuel. Earlier post.)

MIT 299
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Stanford, UC Santa Cruz study explores ramifications of demand-driven peak to conventional oil

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The IDES model defines conventional oil as hydrocarbons with density greater than 15° API and produced via primary and secondary recovery, and excluding natural gas liquids (NGLs). If the transition is to natural gas and electricity generated from renewable sources, emissions from transport may well fall toward the middle of the century.

Oil 207
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The Dirty Truth of Petrol & Diesel Vehicles

Plug In India

Even if electricity is produced from burning coal, the power plant is far away from population centers, transferred over power lines keeping any direct pollution away from the population. And the percentage of clean energy is growing every year as coal and gas plants are being replaced by renewable energy sources.

Petrol 59
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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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Other liquids refer to natural gas plant liquids (NGPL), biofuels (including biomass-to-liquids [BTL]), gas-to-liquids (GTL), coal-to-liquids (CTL), kerogen (i.e., However, other countries, including Mexico, Russia, Argentina, and China, begin producing substantial volumes of tight oil between now and 2040.

Asia 341
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PwC analysis finds meeting 2 C warming target would require “unprecedented and sustained” reductions over four decades

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Examining the role of shale gas, PwC’s report suggests that at current rates of consumption, replacing 10% of global oil and coal consumption with gas could deliver emissions savings of around 3% a year (1gt CO 2 e per annum). Other G20 (Australia, Korea, EU, South Africa, Saudi Arabia, Argentina).