CBC. TransCanada Corp. says it expects B.C.'s oil and gas commission to decide soon on two pipeline projects that the company wants to build across the province.
One of the projects is a 900-kilometre pipeline to move natural gas from the Montney gas-producing region near Fort St. John, in northeastern B.C., to a connection near a proposed liquefied natural gas terminal near Prince Rupert, B.C.
In a 2013 address to the United Nations General Assembly, President Barack Obama announced that the United States would continue to safeguard the “free flow of energy… to the world,” even as the shale revolution ushers in an unprecedented increase in oil and natural gas production here at home. New oil and gas production technologies, such as hydraulic fracturing, horizontal drilling, and deepwater drilling, have already begun to redraw the map of energy production. Because oil is traded in a global market, increased domestic production does not insulate the U.S. from supply shocks and price volatility. But even if the move toward “energy independence” makes little difference to U.S. national security, changes in the geography of energy production could still have an important impact.
A major new study investigates how changing trade flows and energy revenues affect U.S. national security via two potential mechanisms: shifts in U.S. bilateral relationships with oil-exporting countries and disruptions in regional security. Join us as the lead researcher, Eugene Gholz, presents the findings, followed by comments and discussion among experts in the field.
If you can’t make it to the Cato Institute, watch this event live online at www.cato.org/live and follow @CatoEvents on Twitter to get future event updates, live streams, and videos from the Cato Institute.
Online registration for this event is now closed. If you are interested in registering for this event, please email email@example.com.
Luncheon to Follow
Our Friends at the Alliance note that this Friday, May 1st is the deadline for comments on Shell’s Revised Exploration Plan (EP) for the Chukchi Sea. The EP can be found on The Bureau of Ocean Energy Management’s (BOEM) website at:
Comments are only accepted and considered by BOEM if they are submitted through the federal eRulemaking Portal. Click here to use the Portal.
Points to consider for our comments:
- Shell’s revised Exploration Plan is complete and fully addresses all of the major activities associated with offshore exploration in the Chukchi Sea. The EP should be approved in an expeditious manner so drilling can occur this summer.
- With a sustained level of leasing and exploration drilling activity over the next 15 years, offshore Alaska could yield significant new domestic production by the mid-2030s and sustain this level of production through mid-century and beyond.
- The federal government estimates there are 23.6 billion barrels of recoverable oil and 104.4 trillion cubic feet of natural gas in the Chukchi and Beaufort seas planning areas. America’s offshore Arctic oil and gas deposits could be among the largest in the world.
- Offshore development in the Alaska Arctic has the potential to be a significant contributor to our nation’s energy security, as well as a significant source of long-term jobs for Americans. It is estimated that economic activity from the development of Arctic energy resources would create an annual average of 54,700 jobs nationwide with a cumulative payroll of $154 billion over the next 50 years.
- Arctic OCS oil and gas production could generate approximately $200 billion in federal, state, and local government revenue. Offshore development would also help extend the longevity of the Trans-Alaska Pipeline System, which is critical and strategic infrastructure to the nation’s energy security.
AP by Dan Joling. A federal judge (today) will consider a request by Royal Dutch Shell PLC for an injunction against illegal boarding of Arctic-bound drilling equipment by activists from Greenpeace Inc. (We reasonably expect the judge to provide Shell with the injunction; this action would demonstrate judicial support for the rule of law and against lawless behavior disguised as 'protest'. -dh)
Posted: 28 Apr 2015 12:22 PM PDT
The Legislature adjourned yesterday, but the Governor called a special session to address Medicaid and the unresolved FY16 budget issues. Currently, the FY16 budget is short-funded, meaning there is not enough money to pay for the full year. The Senate passed a budget that relied on the Constitutional Budget Reserve (CBR) to make-up budget shortfalls. Using the CBR requires a ¾ vote and the House was not able to come up with the votes to make this happen. House minority members want to restore school funding that was cut from the Senate’s budget.
Many hope that the special session will result in a fully funded budget. Governor Walker has also asked that Medicaid expansion be discussed but it seems unlikely that the expansion will be approved. There will also be discussion about the new bill ‘Erin’s Law’ that will require school districts to implement sexual abuse and assault prevention programs.
The special session will be called to order in Juneau, and then adjourn to regroup in Anchorage. The capitol building will not be available to the Legislature due to planning restoration. Legislators will have a period of rest before gathering in Anchorage for the special session.
Game Changer? New price pressures for public and private sector officials in Alaska, Canada and other oil producing areas -- and new hope for more secure oil supplies for Europe! Thanks to reader Steve Borell for this timely link. dh)
BBC by John Moylan. ... up to 100 billion barrels of oil onshore beneath the South of England, says exploration firm UK Oil & Gas Investments (UKOG). ...the firm drilled a well at Horse Hill, near Gatwick airport, and analysis of that well suggests the local area could hold 158 million barrels of oil per square mile. ...only a fraction of the 100 billion total would be recovered, UKOG admits. "We think we've found a very significant discovery here, probably the largest [onshore in the UK] in the last 30 years, and we think it has national significance," Stephen Sanderson, UKOG's chief executive told the BBC. More....
Associated Press/ADN. The Alaska Senate has passed legislation that would authorize financing for a gas project to serve Interior Alaska.
The bill, which Gov. Bill Walker (NGP Photo) has called a must-have, passed unanimously on Sunday. The House would have to decide whether to agree to the Senate's version.
The bill would allow the Alaska Industrial Development and Export Authority to provide up to $275 million in financing for a gas project serving the Interior if the authority approves a project plan. The plan would have to include the source of gas and the estimated cost of the project and the gas supplied to utilities. Regular reports on the project would be required. (We compliment the Legislature for adding these prudent caveats. -dh)
Calgary Herald by Dan Healing. Mullen Group slashed its employee head count by 1,000 — more than 13 per cent — in the first quarter to control costs in its oilfield services division as its producer customers deeply cut spending to deal with low commodity prices.
The report from the trucking and oilfield services company Thursday sets the stage for what is expected to be a series of disappointing .... More
Earlier this month, the Canadian Association of Petroleum Producers estimated its members had laid off 4,500 workers so far. The Canadian Association of Oilwell Drilling Contractors, meanwhile, said its 2015 rig activity forecast suggests more than 23,000 fewer oilfield services staff would be needed .... More.