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Revealed: How The Latest Defense Bill Supports Fracking On Public Land

December 16, 2014 By Steve Horn 1 Comment

The U.S. Senate has voted 89-11 to approve the Defense Authorization Act of 2015, following the December 4 U.S. House of Representatives’ 300-119 up-vote and now awaits President Barack Obama’s signature.

The 1,616-page piece of pork barrel legislation contains a provision — among other controversial measures — to streamline permitting for hydraulic fracturing (“fracking”) on U.S. public lands overseen by the Bureau of Land Management (BLM), a unit of the U.S. Department of Interior.

Buried on page 1,156 of the bill as Section 3021 and subtitled “Bureau of Land Management Permit Processing,” the bill’s passage has won praise from both the American Petroleum Institute (API) and the Independent Petroleum Association of America (IPAA) and comes on the heels of countries from around the world coming to a preliminary deal at the United Nations climate summit in Lima, Peru, to cap greenhouse gas emissions.

Filed Under: Environment, National News Tagged With: America's Natural Gas Alliance, American Petroleum Institute, ANGA, API, Bakken Shale, BLM, BLM Fracking Rules, BLM Hydraulic Fracturing Rules, BLM Permit Processing Improvement Act, BLM Streamlining, Buck McKeon, bureau of land management, California, Carl Levin, Department of Interior, DOI, fracking, Fracking on Public Lands, H.R. 3979, Heather Zichal, Howard McKeon, hydraulic fracturing, Independent Petroleum Association of America, IPAAS. 2440, John Hoeven, Michigan, National Defense Authorization Act of 2015, NDAA, New Mexico, S.2410, shale gas, shale oil, Sierra Club, U.S. Rep. Buck McKeon, U.S. Rep. Howard Buck McKeon, U.S. Representative Buck McKeon, U.S. Representative Howard Buck McKeon, U.S. Sen. Carl Levin, U.S. Sen. John Hoeven, U.S. Senator Carl Levin, U.S. Senator John Hoeven, unconventional gas, unconventional oil, Wyoming

Federal Reserve Policy Keeps Fracking Bubble Afloat And That May Change Soon

November 5, 2014 By Steve Horn Leave a Comment

In August 2005, the U.S. Congress and then-President George W. Bush blessed the oil and gas industry with a game-changer: the Energy Policy Act of 2005. The Act exempted the industry from federal regulatory enforcement of the Safe Drinking Water Act, the Clean Water Act and the National Environmental Policy Act.

While the piece of omnibus legislation is well-known to close observers of the hydraulic fracturing (“fracking”) issue — especially the “Halliburton Loophole” — lesser known is another blessing bestowed upon shale gas and tight oil drillers: near zero-percent interest rates for debt accrued during the capital-intensive oil and gas production process.

Or put more bluntly, near-free money from the U.S. Federal Reserve Bank. That trend may soon come to a close, as the Federal Reserve recently announced an end to its controversial $3 trillion bond-buying program.

Filed Under: Environment, National News Tagged With: bloomberg, Carl Gibson, Collin Eaton, Credit Card Debt, Credit Cards, Drilling Deeper A Reality Check on U.S. Government Forecasts for a Lasting Tight Oil & Shale Gas Boom, Energy Aspects, Food & Water Watch, Food and Water Watch, fracked gas, Fracked Oil, fracking, Global Hunter Securities, Houston Chronicle, Hugh MacMillan, hydraulic fracturing, Interest Rates, James Bullard, Mike Hunter, Occupy, Occupy Wall Street, Peritus Asset Management LLC, quantitative easing, Shale Bubble, shale gas, Strike Debt, Student Loan Debt, The Urgent Case for a Ban on Fracking, Tight Gas, Tight Oil, Tim Gramatovich, U.S. Federal Reserve, unconventional gas, unconventional oil, US Uncut, Vivendra Chauhan

Drilling Deeper: New Report Casts Doubt on Fracking Production Numbers

October 31, 2014 By Steve Horn 2 Comments

Post Carbon Institute has published a report and multiple related resources calling into question the production statistics touted by promoters of hydraulic fracturing (“fracking”).

By calculating the production numbers on a well-by-well basis for shale gas and tight oil fields throughout the U.S., Post Carbon concludes that the future of fracking is not nearly as bright as industry cheerleaders suggest. The report, “Drilling Deeper: A Reality Check on U.S.Government Forecasts for a Lasting Tight Oil & Shale Gas Boom,” authored by Post Carbon fellow J. David Hughes, updates an earlier report he authored for Post Carbon in 2012.

The report’s findings differ vastly from the forward-looking projections published by the U.S. Energy Information Agency (EIA), a statistical sub-unit of the U.S. Department of Energy (DOE). The findings also come just days after Houston Chronicle reporter Jennifer Dlouhy reported that in a briefing over the summer, EIA Administrator Adam Sieminski told her it was EIA’s job to “tell the industry story” about tight oil and shale gas production.

Filed Under: Environment Tagged With: Adam Sieminski, Asher Miller, Bakken Shale, Barnett Shale, Climate change, DOE, Eagle Ford Shale, EIA, energy, environment, Fayetteville Shale, fracking, gas, Geological Survey of Canada, Haynesville Shale, Houston Chronicle, hydraulic fracturing, J. David Hughes, Jennifer Dlouhy, junk bonds, liquefied natural gas, LNG, Marcellus Shale, oil, plastics, Post Carbon Institute, U.S. Energy Information Agency, U.S. Federal Reserve, unconventional gas, unconventional oil, US Department of Energy, Woodford Shale

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