It is often said that every crisis is in fact a hidden opportunity. As expected, the gas crisis in Ukraine and the rise of Sunni jihadists in Iraq offered fracking apologists a new opportunity to dupe the public into believing that shale gas can save Europe from freezing in winter.
US fracking technology is coming to China's vast shale deposits as a result of a joint venture between FTS International and Sinopec announced on Tuesday. Ownership will be 55 percent Sinopec and 45 percent FTS. State-owned Sinopec (China Petroleum & Chemical Corp. is based in Beijing and one of the world's largest companies, with about $460 billion in revenues in 2013.
The Ukrainian press and experts in Kiev are accusing Moscow of supporting the so-called separatists in the east of the country due to the alleged presence of shale gas in that region, which Russia wants to develop.
According to Italian media, Washington is trying to destabilize relations between Russia and the EU in the attempt to eliminate its main economic competitors. Italian La Bussola Quotidiana writes that the complication of relations between Russia and the EU as a result of the Ukrainian crisis is a clear plan for Washington to eliminate its main economic competitors.
America's fracking rules are continuing to soften as the industry is starting to gain momentum in the market and profits in the pockets of the wealthy hydraulic fracturing business owners. One state in particular—Ohio— is in the spotlight as gas drilling has made for a popular trade to pull in cash while leaving far too much toxic waste as a result.
American energy companies are using a crude oil loophole to input high profits that are record-breaking in terms of petroleum exports with the shale gas industry only expected to grow. Even though big US oil firm are requesting to kill off a 1970s law which bans exports of crude, they continue on exploiting a loophole that just a year ago allowed them to export high amounts of gasoline and other petroleum-based items, as stated by The Washington Times.
John McCain, channeling America's inner Mr. Hyde, has repeatedly stated that “the strategy of the US must be built in opposition to Russia's gas strategy, as this will be the end of Putin and his empire". Barack Obama promised to kick Gazprom out of Europe with American shale gas exports. However, there are hints that Russia may be silently preparing a countermove against the US with the help of a former American ally.
Britain's fracking industry is being held back by environmental regulations drawn up in Brussels, a senior committee of the UK House of Lords plans to say this week, NYT reports. In a major report, the Lords are expected to call for permits to be granted more quickly to drilling companies to allow them to test the potential of newly drilled shale gas wells.
The State Department is giving federal agencies more time to review the Keystone XL pipeline before deciding whether to issue a permit. That could push a decision about the controversial oil pipeline until after the midterm elections in November.
The second oil-producing state in the US struggles with proper waste disposal. Recently industrial-sized black garbage bags stuffed with radioactive nets, commonly known as "oil filter socks," were found at an abandoned gas station in the tiny remote town of Noonan, North Dakota.
Over 100 people gathered in University Square in Bucharest to protest against shale gas extraction through hydraulic fraction or “fracking”, demanding that the authorities ban the use of this method in Romania, as Chevron is about to start the effective exploration for shale gas in the Romanian village Pungesti, according to the company officials.
The American President promised his European allies that America will save Europe from its dependency on Russian natural gas imports. He promised to issue an order that will allow energy companies to export LNG from the US in unlimited quantities. But do those “unlimited quantities” really exist?
Peter Koenig, former World Bank economist and the author of “Implosion – An Economic Thriller about War, Environmental Destruction and Corporate Greed", believes that the US is orchestrating a campaign to demonize Vladimir Putin in order to help American energy companies get the green light for fracking in Europe.
Fracking in the UK could harm wildlife by damaging their habitats, according to research by animal conservation groups. The report Are We Fit to Frack? was launched by six organisations including the National Trust and the RSPB. In a blow for the Government, which is keen to encourage fracking, the organisation has cast doubt on whether the process is safe and called for the creation of “frack-free zones” across Britain – including in some of the areas believed to be richest in shale gas.
Environmentalists are going to hold a rally in protest against the fracking of offshore oil wells in the city of Long Beach, California, on Wednesday. The rally is planned to start at 10 a.m. The session of the Coastal Commission is due to take place on Wednesday and Tuesday.
The US is planning to replace Russia as Ukraine’s main gas supplier by selling fracked gas to Ukraine. America is quickly trying to pull together its plan to start exporting natural gas resources to Europe by using the Ukraine as its cash cow. Energy diplomacy could simply spell out more profits for America to rake in, while Ukraine’s crisis is perceived as an opportunity to make monetary gains on the nation as part of the Obama Administration’s trail to greed.
Slate gas extraction by the EU countries will not greatly influence the energy market, even if extractions begin in the near future, experts of the Cologne Institute of Energy Economics Studies say. Russian specialists also think that slate extraction won't lead to any significant breakthroughs. The reasons for this are ecological and social problems, as slate deposits might be situated in the densely populated territories.
There are more and more people who write concerned remarks about how can they be sure the government isn’t getting rid of nuclear waste by putting it into the rock that’s been fracked for oil or gas. That is an interesting question that is hard to answer as it is hard to know if it is true or not.
In a interview that will surely anger the supporters of fracking, Fatih Birol, a top economist from the International Energy Agency, told The Daily Telegraph that the UK will not experience a “shale gas revolution” like the one happening in America.
Shale gas will not bring in an energy revolution in the UK in the same manner that it has for the US, according to chief economist and director of global energy economics at the International Energy Agency (IEA). News of this magnitude may be a let-down to enthusiastic shale gas backers.