Trumps Administration News

 A U.S. government auction for three wind leases off the coast of Massachusetts ended on Friday with record-setting bids totaling more than $400 million from European energy giants including Royal Dutch Shell Plc and Equinor ASA.. Photo: 
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BOEM "Blown Away" by Record U.S. Offshore Wind Auction

 A U.S. government auction for three wind leases off the coast of Massachusetts ended on Friday with record-setting bids totaling more than $400 million from European energy giants including Royal Dutch Shell Plc and Equinor ASA.The Bureau of Ocean Energy Management (BOEM) announced the sale's three winners - Equinor Wind US LLC, Mayflower Wind Energy LLC, and Vineyard Wind LLC, at the conclusion of the two-day sale that attracted 11 bidders and lasted 32 rounds.Mayflower is a joint venture owned by Shell and EDP Renewables, a division of Portugal's EDP. Vineyard Wind is a joint venture

Photo: Ole Jørgen Bratland / Statoil

Arctic Oil 'Undrillable' amid Global Warming -UN's Ex-climate Chief

An architect of the Paris climate agreement urged governments on Tuesday to halt oil exploration in the Arctic, saying drilling was not economical and warming threatened the environmentally fragile region.Christiana Figueres, formerly head of the U.N. Climate Change Secretariat when the Paris accord was reached by almost 200 nations in 2015, told Reuters by telephone "the Arctic has been rendered undrillable."The past three years have been the hottest since records began in the 19th century, and Figueres said the heat was a threat to everything from Australia's Great Barrier Reef to ice

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Schlumberger Fights to Boost Patent Damages at US Supreme Court

The U.S. Supreme Court on Monday appeared divided over whether to make it easier for companies to recoup profits lost due to the unauthorized use of their patented technology overseas in a dispute involving Schlumberger NV, the world's largest oilfield services provider.The nine justices heard about an hour of arguments that will resolve the amount of money that rival ION Geophysical Corp must pay for infringing Schlumberger technology that helps search for oil and gas beneath the ocean floor. Both companies are based in Houston.Some justices, including conservative Justice Neil Gorsuch and

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Record-size US Offshore Oil Lease Sale Draws Modest Bidding

Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region.   The Interior Department had offered up a record 77 million acres (31.2 million hectares) for development in the Gulf with discounted royalty rates on the shallower tracts as part of a broader effort by President Donald Trump's administration to ramp up U.S. fossil fuels output.   But companies bid on just 1 percent of that acreage, and won those tracts with bids

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US Supreme Court to Hear Schlumberger Fight over Patent Damages

The U.S. Supreme Court on Friday agreed to review a bid by Schlumberger NV, the world's largest oilfield services provider, to allow companies to recoup profits lost due to patent infringement when patented technology is used overseas.   The case involves a fight over how much rival ION Geophysical Corp must pay for infringing Schlumberger technology that helps search for oil and gas beneath the ocean floor. The justices will hear Schlumberger's appeal of a lower court ruling that barred it from recovering more than $93 million stemming from foreign contracts the company said it lost as a

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Trump Offshore Oil Proposal Could Unlock 65 Bln BOE

The Trump administration's proposal to open up almost all of U.S. offshore waters to oil and gas drilling could unlock up to 65 billion barrels of oil equivalent (boe), attracting billions of dollars in investment, consultancy Rystad Energy said.   Last week, U.S. Interior Secretary Ryan Zinke said a draft program would make over 90 percent of the outer continental shelf's total acreage available for leasing to drillers, a national record.   "Looking purely at areas that are potentially going to come out of restriction, we are talking about something closer to 65 billion boe,"

(U.S. Coast Guard photo by Lisa Ferdinando)

Weather Disasters Cost US $306 Bln in 2017 -NOAA

Weather and climate-related disasters cost the United States a record $306 billion in 2017, the third-warmest year on record, the U.S. National Oceanic and Atmospheric Administration (NOAA) said on Monday.   The report from the federal agency underscores the economic risks of climate change, even as President Donald Trump's administration casts doubts on the causes of it and has started withdrawing the U.S. from a global pact to combat it.   NOAA said western wildfires and hurricanes Harvey, Maria, and Irma contributed to making 2017 the costliest year on record. The previous record was

Weather Disasters Cost US $306 Bln in 2017 -NOAA

Weather and climate-related disasters cost the United States a record $306 billion in 2017, the third-warmest year on record, the U.S. National Oceanic and Atmospheric Administration (NOAA) said on Monday.   The report from the federal agency underscores the economic risks of climate change, even as President Donald Trump's administration casts doubts on the causes of it and has started withdrawing the U.S. from a global pact to combat it.   NOAA said western wildfires and hurricanes Harvey, Maria, and Irma contributed to making 2017 the costliest year on record. The previous record was

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As US Opens Up Offshore Waters, Eastern GoM Beckons

President Donald Trump's administration has proposed opening up nearly all of America's offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico.   The industry's focus on an area located near a sprawling network of existing platforms, pipes and ports could ease the path to new reserves, and assuage the drilling opponents near other places offered under the Interior Department's proposed drilling plan issued last week, like California's Pacific

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