Next year, Time magazine cover -- "men of the year."
Nobel peace prize: Kim-Xi Moon. Pies.
A tank containing crude oil or asphalt exploded at a large refinery in Wisconsin on Thursday, injuring several people and causing a blast that one worker described as sounding like a sonic boom.A reader tells me that Enbridge "feeds" this refinery. On Monday of this week, a Minnesota administrative judge ruled that Enbridge's plan to expand its Line 3 pipeline could go forward.
No fatalities have been reported, but at least five people have been taken to hospitals in Duluth, Minnesota, following the explosion at the Husky Energy oil refinery at about 10 a.m., Superior Fire Chief Steve Panger said in a statement.
Panger didn't have details about the extent of their injuries. Others were walking wounded.
A contractor who was inside the building told WDIO television that the explosion sounded like "a sonic boom" and that it happened when crews were working on shutting the plant down for repairs.
Panger said the fire was out by 11:20 a.m., although smoke could be seen rising from the plant. Panger said a small tank exploded containing either crude oil or asphalt.
The next natural gas fill/withdrawal data will be released by the EIA tomorrow (Thursday, April 26, 2018).
This is what is/was forecast.How did that forecast work out? Actual results:
- this Thursday (tomorrow), we expect EIA to report 1,287 bcf of working gas in storage for the week ending April 20.
- 2e anticipate to see a draw of 12 bcf, which is 83 bcf larger than a year ago and 72 bcf larger vs. 5-year average.
Don't get fooled by the headline: BP admits it underestimated renewable energy growth. Near the end of the story --When I think of shale oil, about the last company I think of is BP. I very, very seldom see BP involved with shale oil.
China’s solar race could start sputtering some time in the future. This should be a safe enough prediction: sooner or later the local energy market will become saturated with solar power capacity.
There is a limit to how big a role US shale can play in the global oil market, according to the chief executive of BP, who said traditional producers such as Saudi Arabia would continue to exert more influence over crude prices.
Bob Dudley said he had become less worried about the extent to which US shale resources could hold down prices as more was learned about their geology. “There are cracks appearing in the model of the Permian being one single, perfect oilfield,” he told the Financial Times, referring to the region of Texas and New Mexico at the centre of the shale revolution.Yes, both Mark Papa (former CEO/EOG) and Bob Dudley talk about the challenges in the Permian -- but they are all logistical (mostly takeaway capacity) and those challenges will be addressed. Successfully.
China’s solar race could start sputtering some time in the future. This should be a safe enough prediction: sooner or later the local energy market will become saturated with solar power capacity.TSLA: continues to fall (even on an "up" day for the market). Now trading at $280. 52-week high -- $390. TSLA has fallen almost 30% off it's 52-week high.
The Labor Department said initial claims for state unemployment benefits dropped 24,000 to a seasonally adjusted 209,000 for the week ended April 21, the lowest level since December 1969. Economists polled by Reuters had forecast claims falling to 230,000 in the latest week.The best news: I was not at home, so I did not have to listen to Steve Liesman explain how the numbers are really not as good as they seem once you peel back the layers of the onion.
TransCanada is now acquiring land in Nebraska for its planned Keystone XL oil pipeline, aimed at shipping incremental volumes of Western Canadian barrels to the US Gulf Coast for local refining and also providing options for exports ...
"The process [of land acquisition] just started last week," ...
The need to acquire new "easements" -- handing over long-term access to land without transfer of ownership -- came after the Nebraska Public Service Commission decision, which approved an alternate route ...
In November (2017), the NPSC upheld its decision to allow TransCanada to build the 830,000 b/d Keystone XL pipeline system on an alternate route.
The Nebraska regulators approved the 'mainline alternative,' which heads east sooner towards the existing Keystone pipeline and parallels it for 96 miles.
A final investment decision is widely due for the Keystone XL system that will ship crude from Hardisty, Alberta, to Steele City, Nebraska, and link up with the Keystone pipeline that runs through Cushing, Oklahoma, to the USGC.
... TransCanada said in January it has sufficient customer support to go ahead with construction of the pipeline in 2019.
... the Keystone XL pipeline system drew 500,000 b/d in firm 20-year commitments from shippers ...
Large-scale and well-funded producers in the Permian have built dedicated gathering systems and signed up for pipeline-takeaway options to keep their barrels moving to markets at the Gulf Coast and Cushing.
For the most part, smaller producers don’t have the same options, for a variety of reasons. More and more, barrels from outside the core areas of the Permian are competing for the last bits of pipeline space and producers are being forced to rely more heavily on Permian trucking companies to help keep their crude flowing. Truckers are being asked to make less desirable, less economical and longer hauls, and are passing those costs back to the producer. With pipeline takeaway capacity maxed out, trucking capacity is being pushed to the limit too, with several potential upstream impacts. Today, we look at trucking options for smaller producers in second-tier production areas, the impact of boom-bust cycles on trucking companies and what tight trucking capacity means for the basin as a whole.