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US drilling rig count dips 4 units to 1,778
Oil & Gas Journal
The U.S. drilling rig count decreased 4 units during the week ended Aug. 9 to reach a total of 1,778 rotary rigs working, Baker Hughes Inc. reported. Land-based drilling dipped by 2 units to 1,697 rigs working. There were 57 rigs working offshore, down 1 unit. Of these, 55 were drilling in the Gulf of Mexico, unchanged. The number of rigs drilling in inland waters fell 1 unit to 24.
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Legislators tell wall street to 'can it'
Recently, Sen. Jeff Merkley, D-Ore., and Reps. Earl Blumenauer, D-Ore., and Suzanne Bonamici, D-Ore., visited Hopworks Brewery in Portland to call attention to Wall Street speculation in commodity markets, which they say is driving up the prices of aluminum, copper, gas and electricity. "This speculation is in turn raising the prices of everyday products that middle-class families use, including beer cans, home improvement products that contain copper and even gas for cars," notes a press release.
Shale revolution not so simple
The National Interest
The United States is enjoying an oil boom whose real extent is still largely underestimated. In just few years, the country may become the world's top oil producer, mainly due to the unlocking of its huge shale-oil resources. Whereas a shale revolution (both for oil and natural gas) is unlikely in the rest of world, due the some unique factors that characterizes the U.S. oil and gas patch, global oil-production capacity is also growing much faster than demand. The interconnections between these two phenomena might have deep, paradoxical and almost unnoticed consequences for the world oil market and the U.S. energy security.
Maine Voices: Pipeline company's stellar record speaks louder than tar sands oil foes
The Portland Press Herald
My name is Jeff Leary. I live in South Portland and I've worked at Portland Pipe Line Corp. for more than 23 years. The company provides good jobs, hundreds of thousands of dollars in tax revenue and reliable, safe energy that drives our economy. I'm proud to be part of a team that meaningfully works to protect and support the community and the environment every day. I have read a number of misleading claims about tar sands oil and the Portland Pipe Line Corp.
Bigger might not be cheaper: Natural gas choice not clear for all
Teh Kennebec Journal
Summit Natural Gas of Maine, one of two companies fighting the Kennebec Valley's natural gas war, has sent form letters to residents in the region and handed out stickers to children at the Old Hallowell Day parade last month. The other company, Maine Natural Gas, has taken out strongly worded newspaper and radio advertisements, trying to punch holes in public opinion of the competition's bigger pipeline plan by touting lower rates to consumers.
US becoming 'refiner to the world' as diesel demand grows
Running at their highest levels in six years, U.S. refineries are finding strong demand for diesel fuel, used widely in cars outside of the United States, and other distillates, like jet fuel. The U.S. became a net exporter of petroleum products just two years ago and is now the largest exporter in the world.
Global oil production gaining outside OPEC
The United States continues to make gains in terms of overall crude oil production, the International Energy Agency said. The International Energy Agency said U.S. oil production for May, the last full month for which data is available to the agency, was 297,928 barrels, a 13.2 percent increase from the same time last year.
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Murphy urges oil industry to voluntarily self-regulate
The Enid News and Eagle
The convergence of three hot issues — water use, air quality and an interested public — may hold challenges for a burgeoning Oklahoma oil and gas industry. But it also could open the door to opportunity, said Oklahoma Corporation Commissioner Dana Murphy. The fifth-generation Oklahoman and Woodward native made her comments while addressing a lunch gathering at the second Tri-State Oil and Gas Convention.
Oil down modestly ahead of US retail sales data
Oil futures traded slightly lower during the Asian session as traders await retail sales data from the U.S. On the New York Mercantile Exchange, light, sweet crude futures for September delivery inched down 0.06 percent to $106.05 per barrel in Asian trading. The September contracted settled slightly higher by 0.13 percent at $106.11 per barrel during recent trade.
Fracking chemicals in spotlight as regulators investigate rail car corrosion and flammability of North Dakota crude
Bloomberg News via Financial Post
Crude oil shipped by railroad from North Dakota is drawing fresh scrutiny from regulators concerned that the cargo is adding environmental and safety hazards, something that analysts say could raise costs. The U.S. Federal Railroad Administration is investigating whether chemicals used in hydraulic fracturing are corroding rail tank cars and increasing risks.
Bagwell Oil completely exits the fuels industry
Convenience Store News
Seven years after selling its retail convenience store business, Bagwell Oil Co. Inc. is now completely exiting the fuels industry with the sale of its home heating and commercial fuels business. Georgetown, Del.-based Pep-Up Inc., operator of convenience stores along the eastern shore of Maryland and in Delaware, is acquiring the assets.
Cartwright pushes tighter oil, gas production regulations
The Standard Speaker
Hazardous wastes produced during the extraction of oil and natural gas would be subject to federal law to the same extent as wastes produced by other industries under a bill introduced by U.S. Rep. Matt Cartwright, D-Penn. Laws in Pennsylvania and other states require proper disposal of hazardous wastes, but Cartwright, said the laws differ widely from state to state.
Oil severance tax initiative creates tax burden to sustain schools
California is the only state that does not have an official oil severance tax, but an initiative cleared for circulation could create the tax. Revenues are intended to fund public education, clean energy projects, and state parks.
Mexico moves to overhaul oil industry
The Wall Street Journal
Mexico moved to end the country's 75-year-old monopoly on oil and gas production, potentially opening up some of the world's biggest remaining untapped oil reserves to private companies and setting the stage for a new energy boom on the U.S. doorstep.
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