Energy Today - February 2, 2011
Rayola Dougher
Posted February 2, 2011
Oil & Gas Journal: API: SEC revenue disclosure proposal poses competitive problems: The US Security and Exchange Commission's proposed rule to require resource extraction companies to disclose payments to the US and foreign governments could create competitive problems for US-listed companies, the American Petroleum Institute said in a comment it filed with the SEC. Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which became law in December, added a section to the 1934 Securities Act calling for the SEC to issue rules requiring resource extraction issuers to include in an annual report any payments made by the issuer, or by a subsidiary or other entity controlled by the issuer, to the US or a foreign government for oil, gas, or mineral development. Reuters: Canada-U.S. pipeline would increase U.S. energy security: A proposed pipeline from Canada's oil sands to refineries along the Gulf of Mexico would help "essentially eliminate" U.S. oil imports from the Middle East in a decade or two, according to a new study commissioned by the Department of Energy. Oil deliveries from the $7 billion pipeline, combined with a projected drop in U.S. fuel demand, would potentially turn the United States into a net exporter of products like gasoline, jet fuel and diesel, said the report, called "Keystone XL Assessment." The Obama administration is divided over Keystone XL, a project that could ease reliance on oil from politically unstable regions, but boost dependence on Canadian oil sands, a crude that many environmental groups oppose.
Perspectives: The new energy line-up: Natural gas takes No. 2 spot behind oil: Want to know how much energy the world will need over the next couple of decades and where it will come from? Take a look at ExxonMobil's newly released Outlook for Energy. There, you'll find that growing populations, coupled with economic and social progress, mean the world is going to need more energy by the year 2030. And we'll need a diverse mix of affordable energy sources to meet this demand. Released today, our Outlook found that the world's single largest energy source through 2030 will continue to be oil because of its importance as a transportation fuel, which will be especially in demand in fast-developing economies worldwide. But overtaking coal for the No. 2 spot in the world's energy lineup is a cleaner-burning fuel that can help meet the world's enormous power generation needs: natural gas.
More Resources:
Bloomberg: U.S. Crude Oil Supplies Increased Last Week, API Report Shows
The Hill: Rockefeller: Don't put fate of an entire industry in EPA's hands
Townhall.com: The EPA's E-15-fueled War on Science