Continued drops in US natural gas production and drilling, plus earlier draws of gas from storage because of colder fall weather, quickly will tighten market fundamentals, said Stephen Smith, president and founder of Stephen Smith Energy Associates, Natchez, Miss.
The development of renewable energy, whether from wind turbines or solar panels, is important for long-term US energy needs. Nature provides an abundant amount of sun and wind, and much of America's national energy debate revolves around developing such resources.
The Camisea natural gas megaproject has the potential to spur a surge in gas exploration in Peru comparable to that seen in Bolivia following the development of the Bolivia-Brazil gas pipeline, according to the head of the company leading Camisea's upstream effort.
Substantial underwriting losses in recent years, falling interest rates, declining equities markets, and the terrorist attacks of Sept. 11, 2001, are among the factors leading to more-costly insurance for drilling contractors and the energy industry.
US Tier II fuel regulations (OGJ, Oct. 14, 2002, p. 20) represent a financial and logistical challenge to refiners and distributors because they place unprecedented sulfur limits on gasoline and diesel. The ultralow sulfur diesel (ULSD) mandate comes less than 1 year after new nationwide sulfur standards for gasoline were finalized.
Transportation agreements signed last month between Kazakh- stan's state KazMunaiGas and Hurricane Hydrocarbons Ltd., Calgary, will pave the way for large fields in western Kazakhstan to begin or increase production.