Oil & Gas Technology

The USGS recently estimated that the Arctic holds 22% of the world's undiscovered oil and gas resources. Unfortunately, the predominant Arctic hydrocarbon is natural gas, expensive to develop and very expensive to transport over long distances. Even more thorny are the issues of politics, extreme environmental sensitivity and confused sovereignty claims by Norway, Denmark, Canada, Russia and the U.S. Back here at home, recent estimates of 500 trillion cubic feet in the Marcellus shale could bump Arctic reserves right off the economic map. Is this short-sighted? Are we just replacing one political hot-potato with another? And what would a Pennsylvania polar bear look like?

The preceding article is a "sneak peek" from Oil & Gas Technology, a newsletter from GlobalSpec. To stay up-to-date and informed on industry trends, products, and technologies, subscribe to Oil & Gas Technology today.

A study published by the Environmental Law Institute claims that between 2002 and 2008, government subsidies to fossil fuel producers exceeded $72 billion. That dwarfs the $29 billion for renewables. Fossil fuel subsidies reside in the Tax Code, while renewables rely on limited time initiatives. Although the general pattern during this time period showed rising subsidies for fossil fuels and falling funding for renewables, the pattern reversed itself in 2008. Given this new direction in funding, will the industry need to change the way it does business?

The preceding article is a "sneak peek" from Oil & Gas Technology, a newsletter from GlobalSpec. To stay up-to-date and informed on industry trends, products, and technologies, subscribe to Oil & Gas Technology today.

The Marcellus Shale has the potential to supply a large portion of domestic natural gas needs for many years; it also has the misfortune of lying across some of the most historic and picturesque farmland in the Northeast. Federal, state, and local governments are racing to establish exploration and production protocols that walk the fine line between public concern and economic benefit. The main concern is impact on water supplies, although effects on surface environments, including noise, drilling wastes and pipeline routes add to the discussion. Involving the public in an informed and calm debate must become an E&P industry priority. Do the warnings have an element of truth? Can the industry alleviate these fears?

The preceding article is a "sneak peek" from Oil & Gas Technology, a newsletter from GlobalSpec. To stay up-to-date and informed on industry trends, products, and technologies, subscribe to Oil & Gas Technology today.