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ExxonMobil discovers oil and gas in Argentina shale well; expands presence in Permian shale in US

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ExxonMobil Exploration Argentina, jointly with Gas y Petróleo del Neuquén, has discovered oil and gas in an unconventional shale well in Neuquén Province of Argentina. Data analysis and additional studies are being conducted to fully evaluate this discovery. — Stephen M.

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MIT study finds computational load for widespread autonomous driving could be a huge driver of global carbon emissions

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of global greenhouse gas emissions, or about as much carbon as the country of Argentina produces annually, according to the International Energy Agency. Realizing that less attention has been paid to the potential footprint of autonomous vehicles, the MIT researchers built a statistical model to study the problem.

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Study reports non-US global shale gas recoverable resources of 5,760 Tcf; global shale gas boosts total recoverable natural gas resources by 40%

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Map of 48 major shale gas basins in 32 countries. Initial assessments of 48 shale gas basins containing almost 70 shale gas formations in 32 countries suggest that shale gas resources, which have recently provided a major boost to US natural gas production, are also available in other world regions. Source: EIA.

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Argentina and Venezuela to cooperate in $2.2B 100,000 bpd extra-heavy oil joint venture in Orinoco Belt

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Argentina and Venezuela will form a joint venture targeting production of 100,000 barrels of extra-heavy oil per day in the Junin field area of the Orinoco Oil Belt. According to a study released by the US Geological Survey, the mean estimate of recoverable oil resources from the Orinoco Belt is 513 billion barrels of crude oil.

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New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

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Map of basins with assessed shale oil and shale gas formations, as of May 2013. The report also estimates technically recoverable shale gas resources of 7,299 trillion cubic feet—10% higher than an estimate in an earlier 2011 report on recoverable shale gas resources. Source: US EIA. Click to enlarge. Report terminology.

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Study Concludes That Land Set-Asides Can Be Better Climate Investment Than Corn Ethanol

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A new study concludes that, depending on prior land use, carbon (C) releases from the soil after planting corn for ethanol may in some cases completely offset C gains attributed to biofuel generation for at least 50 years. The paper appears in the March edition of the journal Ecological Applications. Gervasio Piñero et al.

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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.)

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