Wednesday July 27, 2016

Archive for the ‘Energy’ Category

US oil reserves surpass those of Saudi Arabia and Russia

The US holds more oil reserves than Saudi Arabia and Russia, the first time it has surpassed those held by the world’s biggest exporting nations, according to a new study. Rystad Energy estimates recoverable oil in the US from existing fields, discoveries and yet undiscovered areas amounts to 264bn barrels. The figure surpasses Saudi Arabia’s 212bn and Russia’s 256bn in reserves.  More…

Tesla driver killed in autopilot crash was watching ‘Harry Potter’

The first American death involving a car in self-driving mode presents a dilemma: How aggressively to embrace the potentially life-saving technology after a fatal crash. The driver’s history of speeding and watching movies further complicates the question.  More…

Volkswagen to pay nearly $15B in US’s largest auto settlement

The figure represents the largest auto scandal settlement in U.S. history. The deal sets aside $10 billion to repair or buy back roughly 475,000 polluting Volkswagen vehicles. Whether they choose to have BW buy back their vehicle or repair it, they will each receive a payment of $5,100 to $10,000.  More…

Hypocrite! Leo takes private jet to collect environmental award

Leo DiCaprio picked up an environmental award in NYC this week — but hypocritically expanded his carbon footprint by 8,000 miles when he obtained the honor, by taking a private jet from Cannes, then flying straight back to France on another jet for a model-packed fund-raiser a night later.  More…

Energy pioneer McClendon dies in fiery car crash, a day after indictment

Former Chesapeake Energy Chief Executive Aubrey McClendon, a brash risk-taker who helped transform the U.S. energy industry with shale gas, died when his car slammed into an overpass on Wednesday, one day after being charged with breaking federal antitrust laws, police said. He was 56.  More…

Video: Manager announces layoffs to 1400 Carrier Air Conditioner workers whose jobs are moving to Mexico

In this video, employees at the Carrier Air Conditioner factory in Indianapolis are gathered together by a manager who explains that the company’s profit-margins dictate that all 1400 of them will lose their jobs as their factory is moved to Mexico.  More…

Spanish energy giant Abengoa’s collapse predicted by 17-year-old

As Spanish engineering and renewable energy giant Abengoa struggles to avoid becoming the country’s biggest bankruptcy, it has emerged that a 17-year-old schoolboy predicted its collapse a year ago, spotting accounting discrepancies apparently overlooked by both Deloitte and Standard & Poor’s rating agency.  More…

Company gives $100,000 bonus to all 1,381 employees

Hilcorp Energy, one of the largest privately held oil and natural gas exploration companies in the United States announced that it would give all 1,381 employees a year-end bonus of $100,000 after what the company called a positive year in growth.  More…

EPA knew of ‘blowout’ risk for tainted water at mine

Internal documents just released show managers at the U.S. Environmental Protection Agency were aware of the potential for a catastrophic "blowout" at an abandoned mine that could release "large volumes" of wastewater laced with toxic heavy metals.  More…

EPA cleanup costs will be between $20 and $54 billion

The Gold King delay illustrates a problem dwarfing the 3 million-gallon waste plume accidentally released by contractors working for the U.S. Environmental Protection Agency: There are about 500,000 abandoned mines nationwide, and only a fraction have been dealt with, despite decades of effort. EPA has estimated the cost of cleaning up abandoned mines nationwide, not including coal mines, at between $20 billion and $54 billion.  More…

Federal Buildings In SoCal Caught Wasting Water

While all Californians are under mandatory water restrictions, CBS2 News cameras went undercover and found some federal facilities wasting water for hours at a time. And government workers weren’t happy with the investigation. “Can you shut that off? Or I’m going to have to confiscate your cameras,” Lina Satele of the VA Public Affairs Office said.  More…

Oregon launches program to tax drivers by the mile

Oregon’s Department of Transportation has been working on OReGO – the first pay-by-the-mile program in the U.S. – for 15 years as a way to eventually replace the gas tax, which has been flat due to an influx of high mileage vehicles and people driving less.  More…

Air Force confirms success of terrifying new weapon

From Ocean’s Eleven to Star Trek, weapons that wipe out enemy electronics are a staple of science fiction films. For years, scientists have been attempting to create such a weapon. Now, the US Air Force claims it has advanced the technology, and says it can deploy it using the stealthy Joint Air-to-Surface Standoff Missile-Extended Range (JASSM) to knock out the command, control, and communication of an entire building.  More…

Oregon to test pay-per-mile idea as replacement for gas tax. Tree huggers outraged

Oregon is about to embark on a first-in-the-nation program that aims to charge car owners not for the fuel they use, but for the miles they drive. Some electric and hybrid car owners, however, say the new tax would be unfair to them and would discourage purchasing of green vehicles. Oregon lawmakers say that state and private vendors will destroy records of GPS locations and daily metered use after 30 days.  More…

US running out of room to store oil; price collapse next?

The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months. For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks.  More…