The Federal Shutdown: Immediate Impacts and the Future of National Energy Policy in the Shadow of Government Gridlock
“. . . full of sound and fury, signifying nothing.”
Macbeth to Seyton, Macbeth, act 5, scene 5.
After Congress failed to appropriate funds for fiscal year 2014, the federal government closed shop for sixteen days. In the end, the shutdown curtailed, but did not cripple, most routine government operations resulting in delays and mild aggravation for the energy industry. For most of us this is par for the course. Partisan gridlock has, for years, impeded the development of a coherent and comprehensive federal energy policy. The shutdown is just the most recent and visible manifestation of that gridlock.
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In The Headlines
Alan Gunn | SunGard
Recently filed class action lawsuits by North Dakota landowners have brought renewed attention to the controversial practice of gas flaring in that state. In their suits, the landowners claim that major producers in the region, including Continental Resources, XTO and Marathon are costing those owners their share of royalties on as much as $100 million per month of value in natural gas that has gone up in flames in order to keep oil production flowing.
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Topic of Discussion
Chris Faulkner | Breitling Oil and Gas
The United Kingdom is in trouble, and an American export could be just the thing that’ll help—now it remains to be seen whether this export will be welcomed or rejected.
The UK suffered a sobering gas shortage last winter and experts expect another shortfall this winter. How can this be happening to a nation that is the largest oil producer and second largest gas producer in the European Union? It’s the same phenomenon we’re seeing in Egypt: locked into long-term export contracts, these nations now don’t have enough resource to fulfil their own needs. The UK has been importing oil and gas since 2004/2005, and now production from the North Sea is on the decline.
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