6-9-15 Alaska has a new Arctic oil competitor (i.e. NWT shale plays with estimated gross reserve POTENTIAL of 190 billion barrels of oil in place)

A new competitor for the Alaska oil patch: A Bakken-sized NWT shale play? More….

NOTE: NEXT WEEK, the U.S. House of Representatives Subcommittee on Energy and Mineral Resources will have an Oversight Hearing on Arctic Resources and American Competitiveness. Our readers may watch, live. Here's more…. -dh

US Senator Lisa Murkowski, Lift oil ban, File Photo by Dave Harbour at Brookings Institute

U.S. Sen. Lisa Murkowski (NGP Photo), today advanced her efforts to end the current prohibition on most U.S. crude oil exports in a report entitled “Rendering Vital Assistance: Allowing Oil Shipments to U.S. Allies.” More….

BP in Alaska is a biannual publication listing the latest facts and figures around BP's field data, hiring, community investment, special projects, and more. Our readers interested in Arctic production and related information will find it extremely timely and useful. Our readers may access the publication, here. -dh

OIL PRICE, BY Andrew Topf
Posted on Mon, 08 June 2015 21:38 | (NOTE: "…read a more subdued story in Bloomberg News, titled “Drop in oil prices means no drilling in Canada's biggest shale reserves.”)

The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana.

The report by Canada’s National Energy Board (NEB) evaluated, for the first time, the volume of oil in place for the Canol and Bluefish shale formations, located in the territory’s Mackenzie Plain. It found the “thick and geographically extensive” Canol formation is expected to contain 145 billion barrels of oil, while the “much thinner” Bluefish shale contains 46 billion barrels.

The report did not estimate the amount of recoverable oil, but points out that even if one percent of the Canol resource could be recovered, that represents 1.45 billion barrels. The calculation immediately had reporters comparing Canol and Bluefish to the Bakken, where the latest USGS estimate shows 7.4 billion barrels of …. (More)

FOR IMMEDIATE RELEASE

Tuesday, June 9, 2015

CONTACT: Julia Bell

202-226-9019

Subcommittee on Energy and Mineral Resources Announces Oversight Hearing on Arctic Resources and American Competitiveness

WASHINGTON, D.C. – On Tuesday, June 16, 2015, at 10:30 AM, in Room 1334 Longworth House Office Building, the Subcommittee on Energy and Mineral Resources will hold an oversight hearing on “Arctic Resources and American Competitiveness.”

WHAT:	Subcommittee on Energy and Mineral Resources will convene an oversight hearing titled, "Arctic Resources and American Competitiveness”
WHEN:	Tuesday, June 16 10:30 AM
WHERE:	1334 Hearing Room in the Longworth House Office Building

Visit the Committee Calendar for additional information, once it is made available. The meeting is open to the public and a live video stream will be broadcast at House Committee on Natural Resources.

G-7 AGREES TO 2 DEGREE GOAL: Leaders of seven of the world's largest economies agreed Monday to do what it takes to limit global warming to 2 degrees Celsius above pre-industrial levels, setting the stage for high-level international climate talks later this year.

The 2-degree goal meets the level many scientists say would prevent the worst of global warming.

Leaders of the G-7 countries — the United States, Germany, France, Canada, the United Kingdom, Japan — made the announcement Monday in Germany during their annual meeting. The United Nations is set to host a climate conference later this year calling on world governments to take steps that would keep the ills of global warming at bay.

"The agreement should enhance transparency and accountability including through binding rules at its core to track progress towards achieving targets, which should promote increased ambition over time," the G-7 declaration said.

To meet the goal, leaders said they need to greatly reduce their carbon dioxide emissions and reduce the use of fossil fuels.