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IHS Markit: conventional oil & gas discoveries at lowest levels in 70 years; major rebound unlikely

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Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.

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Sasol bails on $13-$15B US GTL project, divests from Canadian shale; no new greenfield GTL

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At the company’s Capital Markets Day 2017 in Johannesburg, South Africa, Sasol management said that the company will no longer pursue its proposed ) project in the US ( earlier post ) and furthermore will not invest in additional greenfields gas-to-liquids (GTL) projects.

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US Shale Is Now Cash Flow Neutral

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Oil prices are probably already high enough to spark a rebound in shale production. Even when US oil production hit a peak at 9.7 By the third quarter, oil prices had climbed back to above $40 and traded at around $50 per barrel for some time, replenishing some lost revenue. by Nick Cunningham of Oilprice.com.

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ADB approves $240M to help Kazakhstan modernize transport, improve connectivity

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Kazakhstan, rich in natural resources such as oil, gas, and metal, has huge potential for economic development but infrastructure constraints result in significant travel time and cost, and hinder access to foreign markets.

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National Research Council report finds it unlikely the US will meet cellulosic biofuel mandates absent major innovation or a change in policies

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A key barrier to achieving RFS2 is the high cost of producing biofuels compared to petroleum-based fuels and the large capital investments required to put billions of gallons of production capacity in place. Resolving most of the barriers is necessary to achieving RFS2, and many of them are interrelated as illustrated by the examples below.

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Researchers Suggest That Although CCS and Other Technologies Could Reduce Oil Sands GHG Emissions to Near Zero, That Strategy May Not Make Sense

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Examples of emerging oil sands related technologies and trade-offs. Furthermore, they write, if the relative cost of cutting emissions was high in a given sector, then growing emissions alone would not solely justify major focus on cutting in that sector alone. Credit: ACS, Bergerson and Keith. Click to enlarge. Charpentier, A.

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Study Finds Government Mandates Superior to All Other Biofuels Policies, But Mixing With Subsidies Causes Adverse Effects; The Argument for a Direct CO2 Tax

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Other findings from the study include: Ethanol policy can have a substantial impact on corn prices. However, production costs of US corn-ethanol are very high. The gap between the intercept of the ethanol supply curve and the oil price creates large deadweight costs that may overwhelm any external benefits.

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