Energy Entrepreneur T. Boone Pickens revisited CNBC on Monday, reiterating his call for natural gas as widespread transportation fuel. Pickens told CNBC that energy independence would come much faster if the country’s over-the-road truck fleet were converted to natural gas from diesel. “We’re down to 4 million barrels a day of OPEC oil [from 7 million] … and we can
According to govtrack.us, U.S. Representative Cory Gardner passed his H.R. 6 bill, also known as the Domestic Prosperity and Global Freedom Act, through the House on June 25, 2014. The bill passed on a count of 266-150, with 46 Democrats voting in favor of the bill. The first draft of H.R. 6 was designed to allow the Department of Energy
Natural gas-powered trucks gaining popularity with over-the-road freight haulers When you take the family out for the summer road trip, that 18-wheeler you are about to pass might be a Kenworth T680 road tractor with a concealed bank of compressed natural gas (CNG) tanks and a Cummins Westport natural gas engine. After nine decades of truck manufacturing, Kenworth Truck Company,
ExxonMobil (ticker: XOM) is the largest publicly traded international oil and gas company, with an estimated 25.2 billion BOE of reserves in its 2013 year-end report. The company has a market cap of approximately $441 billion and is the world’s largest refiner and marketer of petroleum products. ExxonMobil’s stock price opened at $104.25 per share on June 24, 2014 – a company
With its 55 nuclear reactors currently offline in answer to the devastating earthquake and tsunami it suffered in March 2011, Japan has been forced to import more expensive alternative fuels to replace the homegrown nuclear-fueled electrical generation capacity which previously made up between a quarter and a third of the country’s electrical output and helped it achieve energy independence in
Sempra Energy (ticker: SRE) has received approval from the Federal Energy Regulatory Commission (FERC) to build the second liquefied natural gas (LNG) export plant in the United States, according to a company press release on June 19, 2014. The plant will be located in Hackberry, Louisiana and will have a capacity of 1.7 Bcfe/d. Construction is scheduled to begin in
Liquefied natural gas (LNG) is being touted as the next major movement in the energy industry. Supermajors like Chevron (ticker: CVX), ExxonMobil (ticker: XOM) and Shell (ticker: RDS.B) are investing billions to build up LNG networks while scaling back on more conventional opportunities. The catalyst for such a movement lies overseas in the energy-starved markets of Asia and Europe. In
The United States energy market has big decisions ahead of it: Do we export oil? How do we safely transport crude oil across our country? Should we build the Keystone pipeline? And perhaps more captivating is what the industry/country should do with the tremendous amounts of natural gas we’ve untapped. The natural gas landscape continues to make headlines by means
Royal Dutch Shell plc (ticker: RDS.B) is incorporated in England and Wales and serves as the parent company for Shell, a global group of energy and petrochemical companies. Shell has a global presence in both the upstream and downstream business with operations in more than 70 countries. The company sold 19.6 million tons of equity LNG during 2013 and is
Chevron (ticker: CVX) explores for and produces crude oil and natural gas around the world. In 2013, the company’s worldwide net oil production averaged 2.60 million barrels equivalent per day, with about 25% of the production coming from the United States and the rest from more than 20 other countries. The company is engaged in every aspect of the industry,
InterOil Corporation (ticker: IOC) is developing a vertically integrated energy business whose primary focus is Papua New Guinea. InterOil’s assets consist of petroleum licenses covering about 3.9 million acres, an oil refinery, and retail and commercial distribution facilities, all located in Papua New Guinea. On December 5, 2013, InterOil announced the sale of 61.3% gross interest in Petroleum Retention License
According to the Associated Press, The Department of Environmental Conservation has drafted regulations that will allow the buildout of LNG truck-fueling stations and other types of LNG storage plants. The agency expects the plans to be finalized by early next year and estimates about 21 fueling stations will be built over the next five years. LNG has become an increasingly
