SPECIAL REPORT: Oil industry researching diverse energy sources
Integrated oil and gas companies have established subsidiaries to research and develop alternative and renewable energy sources, anticipating a global need for diverse new supply.
SPECIAL REPORT: Solar energy powers production of heavy oil in California
A 500-kw solar photovoltaic project, Solarmine, provides daytime electricity to Chevron Corp.’s part of Midway-Sunset heavy oil field in California’s San Joaquin Valley.
COMMENT: Analysis highlights limits on energy promise of biofuels
According to environmentalists and a growing array of politicians, biofuels are going to dramatically reduce our dependence on foreign oil supplies, replace dirty fossil energy with “clean” renewable energy, and sharply reduce carbon emissions.
Bush seeks lower gasoline use, expands SPR
US President George W. Bush has set ambitious goals for displacing gasoline with renewable fuels and has announced plans to double capacity of the Strategic Petroleum Reserve (SPR).
WATCHING GOVERNMENT: Permit effort wins applause
When the 110th Congress begins to examine the US Department of Interior’s proposed budget for fiscal 2008 in a few weeks, it will evaluate programs in DOI agencies.
Robust lease revenues expected despite higher royalty rates
Federal officials recognized the possibility that increasing royalty rates could reduce future initial deepwater oil and gas bonus bids, a Department of the Interior official told the Senate Energy and Natural Resources Committee Jan. 25.
US House passes repeal of oil, gas incentives
US House members on Jan. 18 passed HR 6, which would repeal selected oil and gas federal tax incentives, pressure holders of deepwater leases issued without price thresholds to renegotiate, and redirect revenues to a new energy efficiency and alternatives research and development fund.
WATCHING THE WORLD: Asian doubts about Russia
Adeputy speaker of Russia’s upper house of parliament last month said his country is a guarantor of energy stability and energy security for Asia-Pacific countries.
White House has mixed review of House energy bill
The administration of President George W. Bush supports repealing certain tax provisions favoring oil and gas and encouraging holders of deepwater Gulf of Mexico leases issued in 1998-99 without price thresholds to voluntarily renegotiate terms.
China promotes biofuels as energy alternatives
Promoting biofuels as an alternative to petroleum products, the Chinese government has set a goal of producing 2 million tonnes/year of biofuels by 2010 and 10 million tonnes/year by 2020, reported analyst Lijuan Wang of FACTS Inc., Honolulu.