Big Oil hopes to boost natural-gas demand by enough to drag prices of liquefied natural gas, or LNG, higher, Robb M. Stewart reports, and one way is for it to become a fuel for cruise liners, container ships and road trucks.
The wave of U.S. oil and gas bankruptcies surged past 60 this week, an ominous sign that the recovery of crude prices to near $50 a barrel is too little, too late for small companies that are running out of money.
Energy expert says oil prices won't top $100 a barrel Following a stunning decline, oil prices have clawed back near the $50 level this year. Daniel Yergin is the vice chairman of research firm IHS Inc. He has written two books on energy, including the Pulitzer-winning opus The Prize: Yergin recently talked to The Associated Press about oil prices, the shale revolution, the fate of coal, and the next big thing in energy. In terms of new-build in U.S. electricity, we think all the new capacity will either be natural gas or renewables. A. I think people don't understand how pervasive oil and gas is in our whole economy, not just in terms of transportation, not just in terms of fuel, but in everything from your cellphone to cosmetics. A. Between coal (plant) retirements and reducing plants and the fact that all new plants will either be gas or renewables, coal's share of electricity will continue to decline in the United States. The shale breakthrough has had enormous impact, not only in terms of energy supply but in terms of foreign policy. There would not have been an Iranian deal (to lift sanctions over Iran's nuclear program) without it because sanctions on Iranian oil probably would not have worked without the additional supply.
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