Natural gas

November 7, 2011, Rome - Alaska Governor Sean Parnell welcomed news that Escopeta Oil has reported a major natural gas discovery in Cook Inlet.

“I am pleased that Alaska is seeing the results of tax credit legislation that provides incentives for explorers and producers to continue investing in Alaska,” Governor Parnell said.

The well was drilled from a jack-up rig that was shipped to Alaska earlier this year. Additional wells are required to confirm the company’s estimates. It is the first exploration well drilled offshore in Cook Inlet since the early 1990s. Tax credit legislation enacted in 2010 provided incentives to attract offshore drilling equipment to Alaska.

Congressionally directed study will evaluate potential impacts on drinking water

11/03/2011 -- WASHINGTON - The U.S. Environmental Protection Agency (EPA) today announced its final research plan on hydraulic fracturing. At the request of Congress, EPA is working to better understand potential impacts of hydraulic fracturing on drinking water resources. Natural gas plays a key role in our nation’s clean energy future and the Obama Administration is committed to ensuring that we continue to leverage this vital resource responsibly.

Launches Coordinated Renewable Energy Initiatives in Alaska as part of Interagency Working Group; NPR-A Lease Sale Set for December

11/03/2011 -- ANCHORAGE—Wrapping up a trip to Alaska, Department of the Interior Deputy Secretary David J. Hayes today highlighted several initiatives underway to spur development of our nation’s domestic energy resources, including federal task force efforts to help harness Alaska’s renewable and conventional energy resources, and an oil and gas lease sale for the National Petroleum Reserve-Alaska (NPR-A). The initiatives are part of a series of steps President Obama announced this past spring to continue to expand safe and responsible production of our domestic resources.

Governor Parnell Urges House to Restore Funding for Gasline and Scholarships

March 5, 2010, Anchorage, Alaska – The House Finance Committee recently released draft legislation that strips several of Alaska Governor Parnell’s priorities from his proposed operating budget, including funds for ongoing development of a natural gas pipeline, and the Governor’s Performance Scholarship.

“I understand that this is a step in the committee process,” Governor Parnell said. “However, I am deeply concerned that unless the Legislature restores funding for our in-state gas efforts and for merit scholarships, this draft budget will set us back in pursuing these important economic development and education initiatives for Alaska.”

Fuel Ethanol Margins: 2009 Update

January 21, 2010 -- The November 26, 2008, edition of This Week In Petroleum looked at profit margins for the dry mill fuel ethanol industry, pointing out the boom-and-bust cycles that had occurred. In 2009, ethanol producers’ margins continued to fluctuate as shown in Figure 1.

The variable cost margin plotted in Figure 1 (“Ethanol Margin”) represents the difference between Chicago spot prices for ethanol (revenue) and the variable cost inputs of production, converted to their ethanol price equivalent in cents per gallon. It is sometimes referred to as the “producers’ margin”.1

Baucus Announces the Retirement of Leases on Rocky Mountain Front; Oil and Gas Leases to be returned to the Bureau of Land Management

January 14, 2010 -- Helena, MT – U.S. Senator Max Baucus (D-MT) today announced that five energy companies have agreed to relinquish oil and gas leases on nearly 29,000 acres in Montana’s Rocky Mountain Front adjacent to Glacier National Park. Baucus said this step “will help preclude oil and gas development and preserve fish and wildlife habitat in this unique area, which is important to citizens of Montana and the rest of the country.”

December 9, 2009 -- Washington, DC – Today, the House of Representatives passed legislation that will encourage America’s businesses to make the transition to clean American energy. The legislation, proposed by Congressman John B. Larson, (CT-01), Chairman of the House Democratic Caucus, will extend a tax credit on natural gas.

Congressman Larson said, “natural gas is a vital part of our transition to cleaner American energy. By encouraging businesses to spend their money on a fuel found in abundance here in America, we are making our economy and our homeland more secure and reducing our reliance on foreign energy.”

Needed to Meet Global Natural Gas Demand; Commercialization and Execution of Complex Projects Key Determinants of Success

DOHA, Qatar -- Dec. 9, 2009 -- Large-scale liquefied natural gas (LNG) projects will be necessary to meet increasing global demand for natural gas, Tom Walters, president of ExxonMobil Gas and Power Marketing Company, said today at a panel presentation at the International Petroleum Technology Conference (IPTC) in Doha.

New Outlook for Energy: A View to 2030; Energy demand to be about 35 percent higher in 2030 than it was in 2005 as economies grow and living standards improve worldwide

IRVING, Texas -- Dec. 9, 2009 -- Growing world economies will increase energy demand by about 35 percent in 2030 compared to 2005, requiring trillions of dollars in investment and a commitment to innovation and technology, Exxon Mobil Corporation2 (NYSE:XOM) said today as it released its new edition of Outlook for Energy: A View to 2030.3

December 7, 2009, Anchorage, Alaska – Alaska Governor Sean Parnell welcomed the news that the U.S. Minerals Management Service (MMS) has approved Shell's 2010 Chukchi Sea Plan of Exploration. The MMS granted conditional approval for Shell to drill up to three exploratory wells off the northwest coast of Alaska.

Although conditional approval has been granted, exploration cannot move forward without air permits from the Environmental Protection Agency and additional environmental analysis requested by the D.C. Circuit Court last April.