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Already struggling, farmers face another challenge with diesel shortage

As if this year hasn’t been rough enough on the agriculture community, farmers can now add “global diesel shortage” to their hardship bingo card for 2022.Just weeks after Oklahoma Gov. Kevin Stitt signed an executive order to continue drought relief efforts for farmers in that state, reports of what some are calling a devastating diesel shortage and the higher prices that come with it are rolling in to accompany farmers into the already harsh winter season.“I’m harvesting soybeans that aren’t even worth harvesting right now,” Oklahoma farmer Tim Heinrich said last month.Heinrich, who runs a 3,000-acre operation in north central Oklahoma, says a modern combine like the one he uses typically needs about 150 gallons a day to get the job done – a job that might ultimately cost him more in fuel...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

Army Corps of Engineers withdraws approval of plans to dredge Texas Gulf Coast Superfund site for oil tanker traffic

The reversal follows a challenge by Earthjustice and community groups alleging flaws in the Corps’ environmental review of Matagorda and Lavaca Bays.The Army Corps of Engineers has reversed its decision to dredge the Matagorda Bay Ship Channel through a federal Superfund site on the Texas coast midway between Galveston and Corpus Christi.The withdrawal of the Army’s 2020 ruling, announced in a court filing last week, follows a legal challenge this year by Earthjustice, an environmental nonprofit, and a coalition of community leaders.The opponents argued that the project—a 27-mile canal expansion designed to bring Suezmax oil tankers to expanded export terminals at Port Calhoun—would stir up mercury and other toxins in Lavaca Bay, off the ship channel. Lavaca Bay was designated as...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

10 Top Natural Gas Producers by Country

Natural gas is an essential energy fuel for the global economy. Which countries are leaders in natural gas production?Natural gas is an important energy fuel, even as the world transitions to a carbon-free economy. When investing in this market, it's key to know the ins and outs of natural gas production by country.Global natural gas production increased by nearly 5 percent to reach a record 4.04 trillion cubic meters in 2021, according to data from Statista. Russia currently ranks as the world’s second largest natural gas producer and is the leading exporter of the fuel.Last year, Russia’s natural gas exports came in at 202 billion cubic meters of gas via pipelines, and 39.6 billion cubic meters of liquified natural gas (LNG). But the war in Ukraine may change that — Russia has...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

Big Oil Stages a Big Comeback as Exxon's Valuation Passes Tesla

(Bloomberg) — The largest US oil company, Exxon Mobil Corp., has surpassed electric-vehicle giant Tesla Inc. in market value for the first time since 2020 as investors sell high-growth stocks and buy up value stocks in the energy sector.Exxon shares have soared 75% year-to-date, putting the energy giant on pace for its best ever annual performance, while Tesla’s stock has plummeted roughly 60% over the same period, for its worst annual slump ever.Broadly, the change in fortunes illustrates how in the face of growing economic and geopolitical uncertainty, investors flocked to businesses with strong cash flow this year, ditching riskier assets whose valuations are pinned to future growth prospects.  Tesla’s own troubles have contributed heavily to the decline as well. Chief Executive Officer...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

UPDATE 2-U.S. allows Sempra to re-export LNG from Mexico

WASHINGTON, Dec 20 (Reuters) - The U.S. Energy Department on Tuesday approved permits for Sempra Energy to send U.S. natural gas to Mexico for re-export from LNG terminals, which a source said led a Republican senator to lift holds on four Biden administration nominees.The permits allow Sempra to ship natural gas via pipeline to western Mexico in coming years where it will be converted to liquefied natural gas at the company's terminals and sent to consumers in Asia and other markets.The LNG will be exported from Sempra terminals Energy Costa Azul - which is being built in two phases, the first of which is expected to be completed in mid-2025 - and Vista Pacifico, which has not yet begun construction.The department allows Sempra to export an LNG equivalent of 475 billion cubic feet per...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

EU member countries reach compromise on gas price cap

BRUSSELS — European Union ministers on Monday finalized a long-awaited deal to implement a natural gas price cap they hope will help households and businesses better weather excessive price surges.EU member countries failed to overcome their differences at previous emergency meetings, but several EU leaders said last week that fixing a maximum ceiling to pay for gas was likely to be achieved this time. After talks in Brussels on Monday, the Czech presidency of the European Council, which represents member countries, said a deal had been reached.“We have succeeded in finding an important agreement that will shield citizens from skyrocketing energy prices," said Jozef Sikela, the Czech minister of Industry and Trade, adding that the mechanism will steer the 27-nation clear “from risks to...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

Fracking Waste Gets a Second Look to Ease Looming West Texas Water Shortage

Fracked wells in West Texas don’t just produce petroleum. Much more than anything else, they spit up salty, mucky water. Typically, companies have discarded that fluid, hundreds of millions of gallons per day, by injecting it back underground, occasionally causing small earthquakes. But as water becomes more scarce, they’re beginning to reconsider.For now, hydraulic fracturing in arid West Texas uses large amounts of fresh aquifer water to crack open subterranean shales, unleashing a mixture of oil, gas and fossil brine 10 times as salty as the sea.Increasingly, frackers are starting to reuse that brine, easing their burden on aquifers. “We’ve just month by month seen extraordinary growth in the volumes we are managing,” said Matthew Gabriel, CEO of XRI Holdings, which recycles oilfield...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

Exxon launches new recycling facility in Baytown as it aims to recycle 1B pounds of plastic per year

Operations have begun at Exxon Mobil’s advanced recycling facility in Baytown, which is capable of handling 80 million pounds of plastic waste per year, the company said Wednesday.Part of Exxon's chemical complex 25 miles east of Houston, the facility is on the cutting edge of an emerging industry racing to create ways to recycle plastic and keep pace with soaring consumer demand for sustainable packaging. Driving that demand is a wave of pledges by retail brands to use more recycled instead of virgin plastic.More than 80 brands have made commitments to use at least 15 percent recycled plastic by 2025, according to a report published in May by New York consulting firm McKinsey.“There is substantial demand for recycled plastics,” Exxon’s Product Solutions President Karen McKee said, “and...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

Higher Natural Gas Prices Have Made Methane Capture Projects Increasingly Economic, Potentially Unlocking Vast Amounts of New Supply While Lowering Overall Emissions

WASHINGTONPRNewswire/ -- Current natural gas prices, including record high global prices, and renewed concerns for energy security are making projects that capture and commercialize vented, fugitive and flared methane increasingly economic, with the potential to lower emissions and unlock substantial new supplies of gas, a new analysis by S&P Global Commodity Insights finds.he analysis examined 6 key regions—North America, North Africa, Central Asia-China, Nigeria, Aussie-ASEAN, and Eastern Mediterranean—and found that the elevated price outlook for natural gas makes it economic to capture and commercialize more than 70% of the lost methane and flared gas from those areas, equivalent to 80 bcm of new supply.Notably, the analysis finds that it could be possible to add 40 bcm of new...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

EPA: US fuel economy flat in 2021, emissions down slightly

DETROIT — Fuel economy for 2021 model year vehicles in the U.S. stayed flat with 2020 as people continued to buy less-efficient trucks and SUVs, according to an annual government report published Monday.The fleet of new vehicles got 25.4 miles per gallon (10.8 kilometers per liter) for the model year, while greenhouse gas emissions dropped by 2 grams per mile to a record low of 347, the Environmental Protection Agency said in its annual Automotive Trends Report. The 2021 fuel economy figure ties a record set in model year 2020.The performance came under fuel economy and emissions standards that were relaxed when Donald Trump was president. Requirements will start to increase at a higher rate in 2026 under standards adopted by the Biden administration.The EPA said in a statement that all...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

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