Energy & Fuel

"Does Shale Oil Boom Mean U.S. Energy Independence Near?"

US energy independence -- for decades a seemingly unreachable strategic goal -- seems now tantalizingly almost within reach as hydrofracking and high oil prices bring into play oil and gas deposits once economically unfeasible. But the US will continue to import hydrocarbons from Canada and Mexico, and price corrections (much less depleting reserves) could snatch the boom from industry's hand. More to the point: should a nation whose political rhetoric uses "energy independence" to justify gifts to industry be preparing to export petroleum products and natural gas?

Source: McClatchy, 12/22/2011

"With Federal Green Light, Shell Hits the Gas on Arctic Plans"

"In a sign that the Obama administration is willing to clear the regulatory decks for oil drilling in Alaska's remote Arctic waters, the Interior Department on Friday gave a conditional green light allowing Royal Dutch Shell PLC to explore for oil this summer in Alaska's Chukchi Sea."

Source: Greenwire, 12/20/2011

"Is It Safe To Drill? Learn What New Oil-Spill Report Says"

"BP and the oil industry drilling in the Gulf of Mexico lacked the proper safety attitude to handle the large risks of deepwater drilling, leading to the many bad decisions behind the nation's worst offshore spill, a panel of expert engineers said today.

More specifically, the industry needs to radically redesign the blowout preventers that are meant to be a last line of defense against runaway wells or else risk a repeat of the 2010 Deepwater Horizon disaster, the National Academy of Engineering concluded.

Source: AP, 12/15/2011

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