Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
October 31, 2014

Posts in "Exports"

October 29, 2014

T. Boone Pickens Defends Energy Industry, Fracking

pickens 03 072208 240x184 T. Boone Pickens Defends Energy Industry, Fracking

T. Boone Pickens, founder and CEO of BP Capital Management, arrives for the Senate Homeland Security and Governmental Affairs Committee hearing on “Energy Security: An American Imperative.” Copyright © 2008 Roll Call Photos

Today, during an interview at the Washington Ideas Forum, billionaire oil tycoon T. Boone Pickens was in a playful mood as he discussed energy policy, ranging from oil imports to fracking.

After cracking several jokes about his age, the 86-year-old chairman of BP Capital Management was asked if the U.S. had anything to worry about given the fall of U.S. oil imports, the decrease in oil prices and the cresting of OPEC’s power.

“It’s good news. Remember OPEC peaked. We imported from OPEC over 7 million barrels [per day]. Today, 3.2 [million per day]… No, I don’t see anything to be worried about as to what’s taken place. We are regaining our independence is what it is.”

When pressed on whether the U.S. should be concerned about the effects of low oil prices on the production of non-oil fuels like natural gas, he dismissed the fear as a “high class problem.” He then added that the only way to have an input on gasoline prices is to introduce a new fuel option. He believes that natural gas will replace gasoline and  diesel though he would like it to happen on a faster timetable. Pickens then said that if he can get natural gas into 18-wheelers he can wipe out OPEC, referring to the cartel as “the worst thing to happen to our country” and that while right now, we only import 3.2 million bpd, we are using twice as much oil everyday as the second largest consumer, China.

He then lamented the lack of leadership around energy policy in Washington and called for a North American energy alliance between the U.S., Canada and Mexico that could tell the rest of the world to “forget it, we have independence in North America. That’s it.”

Pickens also had some thoughts on the role his industry plays in the American economy.

“The natural gas and oil industry in the United States has done an unbelievable job for America,” he said. After loud enthusiastic clapping from one man several rows below me, he added “They didn’t do it for America. I can tell ya that.” The room erupted in laughter… “You’re out there because you’re trying to make money is what you’re trying to do. Now is that good for America? Of course it is, because of jobs and taxes. But in the mean time, what’d it do for America? It got our independence from OPEC.”

The topic then turned to fracking.

Pickens was unequivocal. “I’d like to dismiss this in 30 seconds. There’s not a problem with fracking.” He then said opponents could not think of one instance of fracking damaging anything.  He also accused fracking opponents of being global warming hypers merely spoiling for a fight. This claim did not go over so well with the audience.

The moderator quickly moved on to another subject.

 

October 27, 2014

The Week Ahead: Natural Gas & Clean Coal in China

Here’s what’s on tap for the week.

Tuesday

NRG President and CEO David Crane, U.S. Secretary of Energy Ernest J. Moniz, and BP Capital Management Chairman T. Boone Pickens will be speaking at the Aspen Ideas Forum hosted by the Atlantic along with the Aspen Institute. The event will take place over two days at the Harman Center for the Arts.

Kevin C. Ramnarine, minister of Energy & Energy Affairs for Trinidad and Tobago, will take part in a discussion hosted by the Natural Gas Roundtable. The discussion will center on natural gas and energy security in Trinidad and Tobago and the Americas and will be held at the University Club.

The Brookings Institute will host the International Energy Agency’s Chief Economist Fatih Birol for the U.S. launch of the IEA’s Africa Energy Outlook report.

The U.S. Energy Association will host a forum that looks at clean coal in China featuring Dr. Ren Xiangkun. Ren will discuss clean coal technology being developed by his company.

Wednesday

The Florida Chapter of the Air and Waste Management Association will hold a forum at its annual conference in Jacksonville on Wednesday and Thursday.  The panel will discuss guidelines for CO2 emissions from existing utility units.

Thursday

The U.S. Energy Association will host a forum on subsurface technology and engineering for energy applications such as oil and gas, carbon storage, geothermal and waste disposal.

Hans Bruyninckx, the executive director of the European Environment Agency, will discuss Europe’s 2050 agenda and event put on by the Wilson Center’s Environmental Change and Security Program.

Friday

The Wilson Center will host a panel discussion that examines the economic and political impact of low oil prices on countries like Russia, Saudi Arabia, Iraq, Nigeria and Venezuela.

October 20, 2014

The Week Ahead: Methane & Efficiency Scorecard

On tap this week:

Monday

Former EPA Administrator Carol Browner and Judi Greenwald, the Energy Department’s deputy director for climate, environment and energy will take part in a discussion on curbing methane emissions at the Center for American Progress. Full story

October 17, 2014

ICYMI: Oil Slides, CO2 Talk & Yucca Echoes

Down, down, down was the way oil looked this week, with the global benchmark Brent crude dropping 27 percent from July before rebounding slightly Thursday. Full story

October 16, 2014

Asian Refinery Upgrades Contribute to Light Oil Glut

Recent refinery upgrades in China and India have given those countries more flexibility in choosing imports and diminished demand for light crude on the global market, which has dropped a quarter of its value in the past three months. Full story

October 15, 2014

Cheap Oil, Sanctions Impact Russia

453610936 445x313 Cheap Oil, Sanctions Impact Russia

(SERGEI CHIRIKOV/AFP/Getty Images)

Russian President Vladimir Putin said his country may cut budget spending because of falling crude prices, the government news agency TASS reported Tuesday. Full story

October 14, 2014

Global Oil Supply Showdown

174775753 445x296 Global Oil Supply Showdown

(Andrew Burton/Getty Images)

Well, we’ve validated a basic theory of economics once again. Rising supplies led by U.S. shale production and resurgence in Libyan oil output coupled with less than expected demand have sent oil prices tumbling – setting up a faceoff within OPEC and between the group and U.S. shale investors. Full story

The Week Ahead: Russia, Solar, Gas, Carbon and Coal

A little bit of everything is happening this week, and much of it takes place Tuesday. Full story

October 10, 2014

ICYMI: Oil Slides, Export Reviews & Winter Outlook

456938438 445x296 ICYMI: Oil Slides, Export Reviews & Winter Outlook

Traders on the floor of the New York Stock Exchange Thursday, when the Dow Jones Industrial Average plunged more than 330 points on energy sales.
(Andrew Burton/Getty Images)

Oil prices dropped this week, leading to an energy sell off Thursday and the year’s biggest drop in the Dow Jones Industrial Average. Lower oil prices could lead companies to curtail shale development. Full story

October 9, 2014

Falling Oil Prices Could Cut Shale Production

174775721 445x296 Falling Oil Prices Could Cut Shale Production

Andrew Burton/Getty Images

For years the price of oil has been controlled by OPEC, which would simply throttle down the flow to decrease supply and maintain prices. The free market analogous process in U.S. shale oil production would likely kick in if oil prices continue their decline and fall another 20 percent or so, Fitch Ratings said Wednesday. Full story

Lawmakers Press for Alaska LNG Project

Alaska LNG project liquefaction plant 445x333 Lawmakers Press for Alaska LNG Project

Rendering of proposed project.
(Office of the Federal Coordinator for Alaska Natural Gas Transportation Projects)

Members of the Alaska delegation are pushing the Energy Department to expedite approval of exports of 2.55 billion cubic feet per day of liquefied natural gas from a facility planned in their state. Full story

October 8, 2014

Oil Flows Amid Mideast Unrest

452844800 445x296 Oil Flows Amid Mideast Unrest

Flames and smoke billow from an oil depot following clashes around Tripoli airport in July. (MAHMUD TURKIA/AFP/Getty Images)

Despite the attention on conflicts in Iraq and Libya this summer, oil production is humming right along. Full story

October 7, 2014

EIA Still Evaluating Crude Exports

108876647 445x262 EIA Still Evaluating Crude Exports

MARK RALSTON/AFP/Getty Images

The Energy Information Administration is running several studies on crude oil exports and expects results this month with a comprehensive report near year’s end, according to Administrator Adam Sieminski. Full story

October 6, 2014

Commerce Wants to Understand Condensates

phototry 445x332 Commerce Wants to Understand Condensates

A condensate stabilizer (Tryer Process Equipment).

Amid the industry tumult and political hullaballoo following two rulings earlier this year, the Commerce Department section in charge of regulating exports of crude oil has taken its sweet time figuring out what process companies deploy in the production of ultalight crude oil known as lease condensate. Full story

The Week Ahead: International Energy & Winter Heating

Monday

Energy Central will hold a webinar on U.S. energy policy with Mike Morris, former head of American Electric Power. Full story

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