Benjamin Franklin was the first scientist to study and map the Gulf Stream, measuring wind speeds and current depths, speeds, and temperatures during four crossings of the Atlantic in the late 18th century.
Live by the subsidy, die by the subsidy. Because a generous tax credit for biodiesel expired at the end of 2009, makers of the fuel fear commercial demise is near.
The International Energy Agency in Paris estimated in December the sustainable production capacity for the Organization of Petroleum Exporting Countries at 35.4 million b/d, with actual output at 29.05 million b/d, leaving a spare capacity of 6.35 million b/d.
Barring any substantial drops in crude prices, corporate credit profiles should remain in line with 2009 levels across the oil and gas industry this year, except for the refining and service and supply businesses, reported Fitch Ratings in its 2010 oil and gas outlook.
A congressional hearing that ostensibly was supposed to consider a proposed merger's market impacts quickly became a forum for debating whether to federally regulate hydraulic fracturing.
As US Interior Secretary Ken Salazar and the Bureau of Land Management drew fire for proposed changes in onshore oil and gas rules for public lands BLM administers, another Interior agency quietly concluded the public comment period for policy changes it has proposed.
As OGJ went to press last week, the oil and gas industry was hoping US President Barack Obama's Jan. 27 State of the Union address would begin a shift of administration-industry relations from confrontation to cooperation, American Petroleum Institute Pres. Jack N. Gerard said.
As OGJ went to press last week, two oil and gas association officials said they hoped US President Barack Obama's Jan. 27 State of the Union message would reflect policies that encourage—instead of discourage—the nation's natural gas development.
Trinidad and Tobago has announced major changes to its fiscal terms for energy companies operating in the country and those seeking new blocks in its 2010 bid round.
The Nord Stream AG consortium said it will commission Sumitomo Group, Europipe GMBH, and United Metallurgical Co. (OMK) to supply 1 million tons of steel pipe for construction of the second pipeline of the Nord Stream project.
Even though more than 1,000 rigs are inactive in the US, drilling contractors are building new land rigs to satisfy operator demand for improved technology.
