Earlier this month, documentary filmmaker Philem McAleer asked questions to filmmakers Matt Damon and John Krasinski about their new anti-fracking film "Promised Land," regarding the funding the film got from Abu Dhabi. (Fracking is the extraction of natural gas from shale rock layers within the Earth, and can make the United States energy independent.) McAleer's question, and Damon's meek answer, were edited out of the podcast that was made available on iTunes.
A shale-oil boom will thrust the U.S. ahead of Saudi Arabia as the world's largest oil producer by 2020, a radical shift that could profoundly transform not just the world's energy supplies but also its geopolitics, the International Energy Agency said.
The U.S. will overtake Saudi Arabia as the world's largest oil producer by 2020 due to a boom in shale oil. How will that impact global energy supplies and geopolitics? Liam Denning reports on the Markets Hub.
The future of energy insecurity has arrived. In August, a devastating cyber attack rocked one of the world's most powerful oil companies, Saudi Aramco, Riyadh's state-owned giant, rendering thirty thousand of its computers useless. This was no garden-variety breach. In the eyes of U.S. defense secretary Leon Panetta, it was "probably the most destructive attack that the private sector has seen to date."
Mild earthquake linked to fracking oil extraction activities:
There were rumors that crude reserves offshore Norway would deplete and consequently the Brent will eventually fade from the market. But geology is not confirming the scarcity news. On the contrary. Statoil announced that a newly discovered oil field measures gigantic proportions - somewhere between 500 million and 1.2 billion recoverable barrel field. A more precise estimate is expected and that may bring even better news about the oil reserves under the North Sea.
Yet another monstrous natural gas deposit was revealed under the waters off the coast of Mozambique.
"The Mamba South 1 discovery well is located in water depths of 1585 meters approximately 40 km off Cabo Delgado coast, in the Northern offshore of Mozambique. This is the first exploration well in Area 4."?
Enormous reserves of shale oil in the south of Argentina were recently discovered by this company. Estimates indicate a 44 percent growth in Argentina's natural oil reserves. Both the South American country and the Spanish based company will profit from investing to tap into the equivalent of 927 million barrels of crude. To date, large areas remain unexplored, hiding potentially bigger reserves of oil and natural gas.
More discoveries of large stores of both oil and natural gas. This happens all the time, yet hardly anyone hears about it. What difference does it make anyway? They can't drill it.
Remember that back in the 1990s the Clintons sent Russia $30b because they claimed only they had large stores of natural gas. Today we know we have more than they do. We have huge amounts of oil in shallow waters (20 to 40 miles off our coasts) and deeper ones 40-80 miles off shore.
No! We can't drill. But we send Brazil $2b to help them with their offshore drilling-that is blatant wealth transfer carried out right in front of the American people and most of them can't recognize it. Very sad.
No More Nuclear Plants in Germany? More North Sea Crude and Gas Pipelines!
Unsurprising news inform us that Germany has officially decided to close its last nuclear power plant by 2022.
Sure, politicians that decide today won't be in office eleven years from now. It happened before, and this tells us that it may happen again, that different contexts will deliver different outcomes to long range decisions.
Mass hysteria against "Atomkraftwerke," or nuclear power plants, in the aftermath of the disaster at Fukushima, is not entirely baseless. We know that newer German-made nuclear reactors are safer than the Dai-ichi ...and so on... obsolete reactors made in the sixties, than aging plants built on realms where the tsunami hits every now and then, in a land haunted by epic earthquakes and tremendous typhoons. The geographical position of Germany cannot compare to Japan in almost any aspect. "Almost," because they however almost share some latitudes in the 40's N.
The price of oil remains under 100$/ barrel, although it's easy to believe, that it will raise again in the few months. The statistics may show some variations, the trade may be influenced by the political relations, but there is one certain fact, that may influence the prices: the nature.