Duke Energy is eyeing the world of evolving technologies and trying to determine which ones work and how they might fit into their long-term business model. One technology being tested is wireless EV charging.
Leading multi-commodity trading and risk management Cloud provider Aspect Enterprise Solutions announced the latest major release of its AspectCTRM suite with increased support for the physical delivery process for oil trading companies.
The founding father of modern hydraulic fracturing, George P. Mitchell, passed away Friday at the age of 94.
He led an amazing life: the son of Greek immigrants, Mitchell eventually became a billionaire.
But he will be best remembered for fine-tuning the process that has transformed America's energy landscape.
Despite its current ubiquity, the process remains mysterious and controversial. It involves a lot of weird, arcane equipment. And you can't see it happening since it occurs underground).
There is some evidence it has contaminated water; that spent frack fluid injected into the ground causes earthquakes; and that spilled wastewater has neutered farm animals, though the industry vigorously disputes this. If you've been affected by it, you're sometimes not allowed to talk about it.
At the same time, the increased use of fracking has massively increased U.S. energy production. Oil imports are plummeting. The shale boom has boosted employment. It's reducing energy costs. And many people are convinced the U.S. will soon become energy independent.
And some say it's actually helping the environment by reducing emissions.
The Cynthia and George Mitchell Foundation is among the organizations trying to make sure fracking is sustainable and environmentally friendly.
We recently went on a tour of a natural gas fracking site in rural Pennsylvania to see what fracking was all about.
Click headline to take the tour with pix and narrative--
Argentina's state-controlled YPF oil company has persuaded Chevron Corp. to sign a long-sought deal to invest $1.24 billion in developing the South American country's shale oil deposits.
The joint venture adds up to $1.5 billion overall, the first major foreign oil investment in Argentina since President Cristina Fernandez seized control of YPF from Spain's Grupo Repsol last year.
YPF CEO Miguel Galuccio and Chevron CEO John Watson presented it Tuesday night to Fernandez, who issued two decrees this week granting special privileges to any oil company investing more than a billion dollars in new shale ventures. After five years, such companies will be able to export up to 20 percent of their crude and natural gas without paying taxes, and also be exempt from the currency controls that have scared away many other foreign investors.
The YPF-Chevron venture will start with a $300 million pilot hydraulic fracturing project involving more than 100 wells in an area known as the "Enrique Mosconi Cluster," part of the Vaca Muerta (Dead Cow) deposit in Neuquen province, where YPF says 15 teams are already extracting more than 10,000 barrels a day.
In a later stage of the project, YPF expects to develop more than 1,500 wells and by the year 2017 produce 50 million barrels of oil and 3 million cubic meters of natural gas each day, making it the most productive strike in Argentina, YPF said.
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