Another Canadian Province Will Have To Ban Fracking: 6.6 Magnitude Earthquake Off British Columbia; Dithering On The Keystone, Embarrassing -- Washington Post

CBC is reporting:

A 6.6-magnitude earthquake struck last night shortly after 8 p.m. PT, with the epicentre located 40 kilometres southwest of Port Alice, according to the Pacific Tsunami Information Centre.

There were no initial reports of damage or injury.

The earthquake was initially reported at 6.7 magnitude, but the U.S. Geological Survey's National Earthquake Information Centre later changed the scale of the quake to 6.6.

And so it goes. Another promising oil field that will be closed to fracking.

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Who Will Benefit From Chinese Shale?

For archival purposes only. This is a throwaway article over at Motley Fool. I include it only for archival purposes:

One company participating in the Chinese shale opportunity is Royal Dutch Shell. The Anglo-Dutch conglomerate is teaming up with state giant China National Petroleum Corporation to explore the Fushun-Yongchuan block in China's promising Sichuan basin. So far, the two companies have drilled 24 wells last year and plan to drill 14 more wells this year.

Another super-major participating in the Chinese shale opportunity is Total SA. The French company is working with Sinopec to look for economically recoverable shale gas in a 4,000 square-mile space near China's eastern city of Nanjing. If they find economical reserves, Total and Sinopec may agree on a long-term development deal over that acreage.

Not to be left out, Chevron is in China as well. The company is exploring China's Qiannan Basin for shale gas and has drilled two wells so far.

That's far in the future. The next story will play out over the next year or so. If the 2014 - 2015 winter is a severe winter, look for Mr Putin to cash in his cards.

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Will GE Support VP Or BHO?

Reuters is reporting:

Russia warned foreign companies working in the oil and gas sector that if they quit the country over Ukraine-related sanctions, they would not be able to return any time soon.
Natural Resources Minister Sergei Donskoy said on Thursday that foreign firms had not so far signalled they would withdraw from projects in Russia, the world's top crude oil producer, but that there would be a price to pay if they did.

"It is obvious that they won't return in the near future if they sever investment agreements with us, I mean there are consequences as well," Sergei Donskoy told reporters in the city of Birobidzhan in Russia's Far East.

"Russia is one of the most promising countries in terms of hydrocarbons production. If some contracts are severed here, then, colleagues, you loose a serious lump of your future pie."

Presidents come and go. Is it worth it to GE to leave Russia?

For the archives.

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The Keystone Dithering? Embarrassing

The Washington Post editorial board is reporting:

If foot-dragging were a competitive sport, President Obama and his administration would be world champions for their performance in delaying the approval of the Keystone XL pipeline.

Last Friday afternoon, the time when officials make announcements they hope no one will notice, the State Department declared that it is putting off a decision on Keystone XL indefinitely — or at least, it seems, well past November’s midterm elections. This time, the excuse is litigation in Nebraska over the proposed route, because that might lead to a change in the project that various federal agencies will want to consider. The State Department might even decide to substantially restart the environmental review process . This is yet another laughable reason to delay a project that the federal government has been scrutinizing for more than five years. 

The administration’s latest decision is not responsible; it is embarrassing. The United States continues to insult its Canadian allies by holding up what should have been a routine permitting decision amid a funhouse-mirror environmental debate that got way out of hand. The president should end this national psychodrama now, bow to reason, approve the pipeline and go do something more productive for the climate.