Breaking Ground: Is U.S. Really On Track To Become “Saudi America?”


“Saudi America.” Has a kind of nice ring to it, but is it really a possibility that the United States could produce enough oil to not only create its own energy independence but even outpace oil king Saudi Arabia?
 
It’s not as outlandish as it may sound. For starters, Texas now produces more oil than the U.S. imports from Saudi Arabia. Then there’s the recently doubled estimates of recoverable energy in North Dakota’s Bakken and Three Forks shale formations.  And, according to the International Energy Agency (IEA), the U.S. is on track to surpass all Saudi Arabia oil output by 2017.
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The Rise, Fall, and Possible Renaissance of the United Kingdom’s Petroleum Industry


Visitors to Aberdeen airport, in the north-east of Scotland, are greeted with a billboard declaring the city “Energy Capital of Europe”. Two things are noticeable: the reference to “energy” and the international ambitions. This article discusses the rise and fall—and possible renaissance—of the UK’s petroleum industry. In this respect, the billboard is telling.
 
Not long ago, the same advert declared Aberdeen as an oil capital. However, North Sea production topped out in 1999, and today the UK produces only one quarter of its peak.
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Court Strikes Down SEC Rule Requiring Disclosure of Oil Company Payments to Foreign Governments; SEC Will Not Appeal


The Securities and Exchange Commission will not appeal a federal judge’s July ruling invalidating a regulation that required oil, gas, and mineral companies to disclose payments made to foreign governments, Commission spokesman John Nester announced September 3.
 
Under the Rule the Commission published in September 2012, “resource extraction” companies listed on a U.S. Stock exchange were required to submit annual reports of payments made to foreign governments in connection with commercial development of oil, natural gas, or minerals, and the Commission would make those reports publicly available online.
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Breaking Ground: U.S. Boom’s Ripple Effects Could Challenge U.S. Energy Security


America’s unconventional oil and gas renaissance could have the United States on the fast track to energy security, but it’s also fueling a lot of activity across the globe as other nations seek to maintain, increase or create competitive advantage by developing their own unconventional resources.
 
Europe has some shale gas reserves that may help it level the playing field. There are certainly substantial benefits to be gained for Europe from successful development of its unconventional oil and gas resources. However, Europe is steps behind the U.S. in accessing those reserves and faces a tangle of differing national interests as well as the same environmental concerns oil and gas developers have contended with across the pond.
 
Poland, which is estimated to contain 29 percent of European shale gas reserves, is one European country wholeheartedly embracing unconventional hydraulic fracturing and horizontal drilling techniques. France, on the other hand, owns 28 percent of Europe’s shale gas reserves, but has placed a permanent ban on any extraction process that involves fracking. The rest of Europe, in the meantime, is taking a “wait and see” approach as governments observe and evaluate shale gas development activities in Poland as well as ongoing environmental studies in the U.S.
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