Showing posts with label IHS. Show all posts
Showing posts with label IHS. Show all posts

Wednesday, November 6, 2013

The Crumbling Environmentalist Case Against the Keystone Pipeline

Keystone pipeline protesters / APA new report showing that importing Canadian tar sands oil would have a negligible impact on American greenhouse gas emissions is the latest in a series of developments that have undermined the environmentalist case against the Keystone pipeline.
The report, by IHS Cambridge Energy Research Associates, suggests that rejecting the project could actually lead to an increase in emissions.
Supporters of the Keystone pipeline, which would connect Canada’s wealth of “tar sands” crude oil to refineries on the American gulf coast, pointed to IHS’s findings as further confirmation of the project’s environmental soundness.
It was the latest revelation that undermines environmentalist opposition to the project, Keystone supporters said. The IHS analysis followed reports that oil companies are seeking out alternative, less environmentally friendly, means of transporting Canadian crude.
Killing the Keystone Pipeline has become a priority of the American environmentalist community, even as some liberal commentators question the political wisdom of its intense focus on the project.
The pipeline’s most vociferous opponents “are obsessed with a program that amounts to a rounding error” with respect to total U.S. carbon emissions, wrote New York Magazine’s Jonathan Chait.
“There is no environmental case against the Keystone XL pipeline,” said James Taylor, senior fellow for environmental policy at the Heartland Institute.
President Barack Obama has stated he will not approve the pipeline if it results in an increase in U.S. carbon emissions.
However, supporters of the project say Canada will export its petroleum products regardless of his decision.

Wednesday, September 18, 2013

IHS: Shale Oil Boom Could Go Global

shale oil drilling monterey californiaThe shale oil boom that has led to resurgence in U.S. production could be replicated internationally, according to a new study from research firm IHS Global Insight.

Oil is recovered from shale formations using a combination of hydraulic fracturing and horizontal drilling. The process has also allowed for a significant increase in gas production, particularly at the Marcellus Shale in Pennsylvania.

Domestic oil production recently hit its highest level since May 1989, driven by shale plays like North Dakota’s Bakken and Eagle Ford in Texas. Previous studies by IHS have shown North America has about 43 billion barrels of commercially recoverable oil.

The group’s latest report suggests global shale formations potentially hold seven times the amount of technically recoverable oil located in North America.

While it remains to be seen how much of the oil is commercially recoverable, the geological study from IHS identified 148 global shale plays that may have 300 billion barrels of technically recoverable oil.

Because well-level data does not exist outside of North America, IHS grouped international plays based on their geographical characteristics. It then compared each play to its closest equivalent in North America to get an estimate of its technical potential.

Via: Fox Business


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