Half of the 41 fracking companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies, an executive with Weatherford International Plc said. There could be about 20 companies left that provide hydraulic fracturing services, Rob Fulks, pressure pumping marketing director at Weatherford, said in an interview
Of late, there has been a lot of buzz related to electric vehicles. Volatility in oil, and thus fuel prices has the world in search of an alternative that can reduce the consumption of gasoline, motor oil and other fossil fuels. An electric vehicle (EV) is one such alternative that is muscling in on the
The only region where diesel passenger cars sell in equal numbers to gasoline-powered vehicles is Europe. And until the advent this year of tougher Euro 6 emission standards, new European diesel cars were significantly dirtier than those sold since 2008 in North America. But one European transport analysis group suggests that the newest European “clean
In a major new report, global investment bank Citigroup has defined the current battle between cheap oil, and renewables like wind and solar, to be so fundamental it will define the future of energy. But it says that while the slump in oil and associated gas prices may provide some road-humps for wind and solar,
How do you raise awareness about population explosion? One group thought that the simplest way would be to show people Oil wells Depleting oil fields are yet another symptom of ecological overshoot as seen at the Kern River Oil Field in California ‘I don’t understand why when we destroy something created by man we call
Shale debt, falling prices and slack demand has tight oil producers in trouble. And yet, there is still burgeoning production. Why? Well, we’ve seen this before. It’s the shale debt redux. Operators did it a few years ago in natural gas and prices have yet to recover. Unfortunately cheap money in the form of debt
Five years ago, I wrote an article for Reuters titled “Goldilocks and the Three Fuels.” In it, I discussed what I call the Goldilocks price zone for oil, natural gas and coal, a zone in which prices are “just right” — high enough to reward producers but low enough to entice consumers. Ever since the
Oil companies continue to get burned by low oil prices, but the pain is bleeding over into the financial industry. Major banks are suffering huge losses from both directly backing some struggling oil companies, but also from buying high-yield debt that is now going sour. The Wall Street Journal reported that tens of millions of
Motorists in Westminster who sit in a stationary car with the engine running and refuse to turn it off are to be fined £20. The move reflects concerns from local residents and businesses about air quality, Westminster City Council said. A team of traffic marshals will patrol the borough and ask car idlers to switch
[From 19 March 2015] Plans to boost the North Sea oil industry, announced in the budget, could lead to the UK emitting tens of millions more tonnes of CO2 over the next five years, Guardian analysis reveals. The chancellor, George Osborne, this week announced a package of measures in the budget designed to help boost
