Saturday, September 20, 2008.
File Photo by DoE
* CanadianPress.Google.com has the following news that you generally won’t read anywhere else. It starts off like this... For the second time in three years, Tim Washington and hundreds of other small oil and natural gas producers are literally picking up the pieces after back-to-back hurricanes in the Gulf of Mexico... Even though most people typically associate U.S. oil and gas production with Exxon Mobil Corp. (NYSE:XOM), ConocoPhillips (NYSE:COP) and other well-known behemoths, the majority of crude and natural gas is supplied by smaller, independent companies like Washington's Alpine Exploration Cos. Most have fewer than 20 employees...
Read the rest of this informative read at the link below...
Small oil producers take hit from hurricanes in the U.S. Gulf Coast
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* CNNMoney.com has the following Special Report for us and it starts off like this... Gas prices fell for the first time in nine days after two powerful hurricanes entered the Gulf of Mexico and smashed through the heart of the nation's oil infrastructure, but questions lingered about when production would be restored... Of the 32 Gulf coast refineries - 26 of which were in Ike's path - 12 remained completely shut down Thursday morning and 9 were operating with reduced capacity, according to the U.S. Department of Energy. The decline in refinery operations has resulted in about 5 million barrels per day in reduced gasoline output..."There are some restarts of refineries, but the process is very slow," said Cathy Landry, a spokeswoman for the American Petroleum Institute...
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Oil's hurricane recovery: Slow going
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* The Milford Daily News had the following article posted on their website yesterday, and it starts off like this... As Massachusetts lawmakers and environmental groups gear up to block oil drilling off the New England coast, the debate on how much oil and natural gas is out there is back for the first time in close to 30 years... There may not be lot of oil, but the petroleum industry says there might be enough natural gas there to heat all of the homes in Massachusetts for close to two decades... But the best answer, according to several sources, is that without new testing, it’s really anyone’s guess how much oil and gas are there...
Read the full report at link below...
Gas, not oil, could drive drilling off Mass. coast
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* The Wall Street Journal had this article on their website yesterday... Energy is essential in America, and 40% of what we use comes from oil and 23% from natural gas. That comes to about 21 million barrels of oil and 64 billion cubic feet of natural gas each day. Domestic oil production is declining... down nearly half since 1970--so imports are up, from one-third of what we needed in 1970 to just under 60% today. So we need to discover and access more of our own energy resources... The good news is that huge resources of oil and gas exist offshore: recoverable oil and gas on America's Outer Continental Shelf comes to some 85 billion barrels of oil and 420 trillion cubic feet of natural gas, and there are another 10 billion barrels of oil in the North Slope of Alaska. If full access to these resources were permitted, together they could replace America's imported oil for some 25 years, and no doubt reduce the price of oil, gas and gasoline...
Read the rest at link below...
Drill, Baby, Drill
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AubreyJ.........
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