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Keystone XL or Not, Canadian Crude Already Shipping Out From U.S.

Congress’ attempts to force approval of the Keystone XL pipeline have re-ignited debate over the project, which would allow more crude oil to flow from the tar sands of Canada to refineries on the Gulf Coast.  It’s also re-ignited debate over what could happen to that oil once it gets to Texas. President Obama and [...]

Oil & Gas Executives Bullish On Future

Survey says: energy executives see U.S. oil & gas outlook bright and getting brighter but worry about new EPA regulation. It’s been a big week already for Houston’s oil & gas industry with the proposed takeover by Halliburton of Baker Hughes. Economists say it’s one sign the industry is optimistic about the future. Some other signs are [...]

New Federal Regulation Coming For Oil and Gas Well Pollution

The federal government says the oil & gas industry is the largest industrial source of pollution that creates smog. In coming months, Texas drillers could learn what the government plans to do about it. New pollution rules could mean that thousands of oil & gas wells in Texas will have to have their leaks fixed. “It’s an [...]

Responding to Quakes, Texas Passes Disposal Well Rules

From Texas Tribune:  Texas regulators on Tuesday tightened rules for wells that dispose of oilfield waste, a response to the spate of earthquakes that have rattled North Texas. The three-member Texas Railroad Commission voted unanimously to adopt the rules, which require companies to submit additional information – including historic records of earthquakes in a region– when applying [...]

Why Is the U.S. Still Importing So Much Oil?

Texas is leading the way in a massive boom in U.S. oil production: oil exports are higher than they’ve been since the 1950s, when the Suez Canal crisis caused a brief jump in shipments. Imports have dropped significantly, but even with that decline, Americans still import about a fourth of the oil they use. We called Tad Patzek, [...]

Midterm Elections Could Strengthen Opponents of Crude Oil Export Ban

The campaign to end a 39-year ban on the export of most domestically produced crude oil has gathered momentum over the past week.  First came a report from the Government Accountability Office, indicating that removing the ban would boost domestic production by encouraging further investment. A few days later, fourteen independent oil producers joined to register [...]

What it Would Take to Tap the Gulf’s Frozen Methane

According to University of Texas researchers, trillions of cubic feet of methane are trapped under the Gulf of Mexico, frozen. The U.S. Department of Energy gave Texas over $40 million to research this frozen gas – methane hydrate. As part of a four-year program, researchers will study methane hydrate and evaluate its potential as a [...]

Does Drop In Oil Prices Make Texas Crude Too Expensive?

Recent financial news headlines have warned about: The dangers of “falling oil.” Or enduring the “Oil Crash of 2014.” Or having oil producers headed for “oblivion.” Could it really get that bad? Maybe, if it’s like it was a few decades ago. “There were bankruptcies everywhere,” said Ed Hirs, a Houston oil man and energy economist. “Exxon [...]

Will Low Oil Prices Rattle The Texas Economy?

The benchmark price of U.S. crude hovers around $85 a barrel. That’s lower than it’s been in four years and $15 below where it was a year ago. Here are a few reasons why: Economic growth has stalled internationally – This has slowing the demand for oil, but oil supplies are increasing thanks to the shale boom in [...]

Rising US Crude Oil Production Buffers Prices From Mideast Violence

Crude oil is now trading at roughly $13 a barrel less than it did a year ago. That’s in spite of the seizure of Iraqi and Syrian oil facilities by ISIS and a U.S.-led bombing campaign against those facilities. “The beginning of the bombing campaign in Syria and Iraq recently was met with a big [...]

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