After President Richard Nixon declared in 1973 that the nation’s goal should be “to meet our own energy needs without depending on any foreign sources,” he was echoed by president after president. But instead of reaching “energy independence” — where the United States wouldn’t need to purchase foreign oil — Nixon’s goal of oil self-sufficiency
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Executives working in the North American tight oil phenomenon said recently the work is just beginning. And they said that while they think it will eventually expand to the rest of the world, that won’t happen quickly. William Maloney, executive vice president for development and production in North America for the Norwegian company Statoil, said most
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According to a new IHS Chemical study, an abundant supply of inexpensive natural gasA naturally occurring mixture of hydrocarbon and non-hydrocarbon gases beneath the earth’s surface – often in association with petroleum.-based feedstocks coming from the continent’s highly productive shaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most
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America can bank on plentiful domestic natural gasA naturally occurring mixture of hydrocarbon and non-hydrocarbon gases beneath the earth’s surface – often in association with petroleum. but should expect a continued reliance on foreign oil, according to oil and gas decision-makers who participated in a new Deloitte survey. Three-quarters of the survey respondents think the
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Lawmakers want the U.S. government to halt approval of Chinese National Offshore Oil Corporation’s (CNOOC) takeover of Canada’s Nexen Inc. In July CNOOC Limited announced an agreement to buy Canadian producerA natural gas producer is generally involved in exploration, drilling, and refinement of natural gas. There are independent producers, as well as integrated producers, which
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