User: flenvcenter Topic: Energy-National
Category: Fossil Fuels :: Oil and Gas
Last updated: Sep 16 2014 17:51 IST RSS 2.0
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Business briefing, Sunday, Sept. 14 13.9.2014 Business

Minneapolis-based Insurance Marketing & Communications Association has elected Mark Friedlander of the western regional office of The Main Street America Group, Maple Grove, as president of its board of directors. ... James Kramer, CEO of Altura State Bank, Altura, and Rick Gobell, president and CEO of Drake Bank, St. Paul, have been elected chairman and vice-chair respectively, of the board of the Independent Community Bankers of Minnesota.

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US, EU levy sanctions on Russia despite cease-fire 13.9.2014 Salt Lake Tribune
Washington • Unsatisfied with a fragile cease-fire in Ukraine, the United States and the European Union levied new sanctions Friday against major Russian banks and defense companies, as well as penalties aimed at curtailing Russia’s ability to develop oil and gas projects. But the restrictions on Russia’s energy sector were carefully crafted to avoid impacting the country’s current production of oil and gas, a move that would raise global energy prices at time of weak economic growth. Russia is ...
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US, EU levy sanctions on Russia despite cease-fire 13.9.2014 Nation
WASHINGTON (AP) — Unsatisfied with a fragile cease-fire in Ukraine, the United States and the European Union levied new sanctions Friday against major Russian banks and defense companies, as well as penalties aimed at curtailing Russia's ability to develop oil and gas projects.
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U.S. intensifies sanctions on Russia over Ukraine 13.9.2014 Yahoo: Politics
By Arshad Mohammed and Bill Trott WASHINGTON (Reuters) - The United States hit Russia's largest bank, a major arms maker and arctic, deepwater and shale exploration by its biggest oil companies with new sanctions on Friday to punish Moscow for its intervention in Ukraine. The sanctions, coordinated with similar European Union steps, were triggered by what the West sees as Moscow's recent effort to destabilize eastern Ukraine by backing pro-Russian separatists with troops, heavy arms and cross-border shelling.. They are the latest economic penalties imposed by the West since Russia annexed Crimea from Ukraine in March. The sanctions target companies including Sberbank, Russia's largest bank by assets, and Rostec, a conglomerate that makes everything from Kalashnikovs to cars, by limiting their ability to access the ...
US, EU levy new sanctions on Russia, take aim at Moscow's energy future 13.9.2014 Star Tribune: World
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US, EU levy sanctions on Russia despite cease-fire 13.9.2014 World
WASHINGTON (AP) — The United States and the European Union levied new sanctions Friday against major Russian banks and defense companies, as well as penalties aimed at curtailing Russia's ability to develop oil and gas ...
Ukraine warns of painful winter due to Russian gas cut 12.9.2014 Yahoo: Politics
Ukraine warned on Friday that it will have to adopt deeply unpopular energy savings measures this winter should Russia fail to lift its suspension of natural gas sales to the West-leaning ex-Soviet neighbour. Russia in June halted gas exports to Ukraine after Kiev balked at paying higher prices that Moscow demanded in the wake of the February ouster of a Kremlin-backed president. Ukraine last year imported half of the gas it consumed from Russia. Ukrainian Energy Minister Yuriy Prodan said the conflict-torn country will probably soon encounter severe energy shortages despite efforts to diversify its gas supply ...
How The New York Times Overhyped The Benefits Of Fracking 12.9.2014 Politics on
If America's fracking boom is creating a job boom, it's hard to tell. Maybe you've heard of the miraculous job-creating powers of fracking. President Barack Obama has claimed fracking could create 600,000 jobs. The Chamber of Commerce has declared that fracking creates "millions of jobs." This week, The New York Times gave fracking credit for "a transformation spreading across the heartland of the nation," one "changing the economic calculus for old industries and downtrodden cities alike." Workers on a natural-gas well in Pennsylvania. The story focused on a patch of Ohio from Youngstown to Canton, where "entire sectors like manufacturing, hotels, real estate and even law are being reshaped." It suggested fracking -- where you pound rock with water, sand and chemicals to release the natural gas trapped inside, along with rainbows and unicorn farts and American jobs -- had made Ohio's job market better than the rest of America's. One supposed side benefit of fracking is that energy gets so cheap that ...
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Google invests in solar — in an aging oil field 12.9.2014 Business Operations |

IT giant reveals $145 million equity commitment to new 82MW solar farm in California, completing its 17th renewable energy investment since 2010.

Google invests in solar — in an aging oil field
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Falling oil price tilts political, economic balance in U.S. favor 12.9.2014 Yahoo: Business
By David Sheppard and Rania El Gamal LONDON/KUWAIT (Reuters) - The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran. But as rising supplies of North American crude and tepid demand have pushed prices below $100 a barrel, the move underlies how the shale oil revolution is creating a political and economic advantage for Washington and its Western allies. ...
Illinois Considers Greenhouse Gas Metric for Evaluating Utility Performance 12.9.2014 Main Feed - Environmental Defense
By Dick Munson Source: pgegreenenergy A new utility business model – “Utility 2.0” or “reform” – is the hot topic in statehouses and regulatory commissions across the country. This is due to many factors: technological innovations in the energy sector, changing consumer expectations, increasing electricity prices, tighter regulations, and the need to decarbonize our energy sector as we grapple with climate change. Some argue utility earnings should be based on performance rather than volumetric electricity sales. They suggest utilities’ monopoly interests should be aligned with enabling clean energy services – such as on-site renewable energy and home energy management – instead of simply delivering more electricity. Key to this new approach is the ability to define – and then measure – performance. This will require a set of metrics by which utility investments can be judged and rewarded. Illinois was the early adaptor of performance-based metrics for its historic smart meters roll-out and is finalizing ...
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Water-splitter could make hydrogen fuel on Mars 12.9.2014 New Scientist: Health
A safer, low-input way to make hydrogen fuel cells could make it feasible to use renewable energy to heat homes and fuel ...
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Russia fears sanctions on refineries, expects gasoline shortages 12.9.2014 World
By Olesya Astakhova MOSCOW (Reuters) - Any further Western sanctions which may aim at technology for Russia's modernizing oil refineries could lead to gasoline shortages, an energy ministry official said. The latest Western sanctions, imposed on Friday, have targeted technology for Russia's Arctic oil exploration and shale oil projects. Yury Zolotnikov, a deputy head of the oil refining department, said his ministry already expected gasoline shortages next year and in 2016, with Russia on "a dangerous balance" of production only marginally higher than consumption. ...
How Obama Became the Oil President 12.9.2014 Mother Jones
This story first appeared on the TomDispatch website. Considering all the talk about global warming, peak oil, carbon divestment, and renewable energy, you'd think that oil consumption in the United States would be on a downward path. By now, we should certainly be witnessing real progress toward a post-petroleum economy. As it happens, the opposite is occurring. US oil consumption is on an upward trajectory, climbing by 400,000 barrels per day in 2013 alone—and, if current trends persist, it should rise again both this year and next. In other words, oil is back. Big time. Signs of its resurgence abound. Despite what you may think, Americans, on average, are driving more miles every day, not fewer, filling ever more fuel tanks with ever more gasoline, and evidently feeling ever less bad about it. The stigma of buying new gas-guzzling SUVs, for instance, seems to have vanished; according to CNN Money, nearly one out of three vehicles sold today is an SUV. As a result of all this, America's demand for oil ...
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Japan's Mitsui may miss metals profit target on iron ore slump 12.9.2014 Yahoo: Business
By James Topham and Yuka Obayashi TOKYO (Reuters) - Japanese trading house Mitsui & Co may miss the current year's profit target of $1.1 billion for its metals business due to the slump in iron ore, warned a senior executive, who said prices may fall to as low as $80 a tonne before rebounding. Mitsui expects prices to rebound to $100 as early as the end of the year and the trading house's iron ore business will remain profitable even if prices fall as much as 30 percent, Hiroyuki Kato, Mitsui's executive in charge of energy and metals, told Reuters in an interview on Wednesday. "It depends on how much impact from the slumping iron ore prices can be offset by cost cuts and production expansions." Mitsui is forecasting profit of 380 billion yen ($3.56 billion) for the year through March, of which the mineral and metal resources segment is expected to contribute 118 billion yen ($1.10 billion). Spot iron ore prices have slumped 39 percent this year as growth in supply from low-cost leading miners ...
Special Report: China turns up heat on ex-security chief with crash probe 12.9.2014 Yahoo: Top Stories
It has to do with the identity of her ex-husband – once one of China’s most powerful men and now the prime target in President Xi Jinping’s anti-corruption campaign. Investigators are probing the death of the first wife of Zhou Yongkang, China’s retired security czar, a source with direct knowledge of the investigation told ...
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International manufacturing show draws thousands to McCormick Place 12.9.2014 Chicago Tribune: Business
Mike Haupers, whose budget for buying machinery had doubled to about $2 million in time for this week's International Manufacturing Technology Show at McCormick Place, had spent about one-third of the money by Wednesday ...
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Russia, Poland in spat over gas supplies 12.9.2014 Salt Lake Tribune
Warsaw, Poland • A spat has broken out between Poland and Russia over what Warsaw claims is a sharp drop in natural gas supplies. The move comes amid concerns Moscow is ready to use its energy exports as a political weapon over the crisis in Ukraine. Russian gas supplier Gazprom was elusive in its position: while it claimed its deliveries didn’t drop, it warned that they depend on volumes available for export. It also argued that the problem is due to Poland ramping up its demand, something the ...
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Stocks end mixed; Health care stocks slump 12.9.2014 Business
NEW YORK (AP) — A sluggish September continued for U.S. stocks as investors assessed the outlook for interest rates, the latest sanctions against Russia and volatile energy prices.
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The Climate Post: U.N. Report Says Carbon Dioxide Levels at Record Highs 12.9.2014 Green on
The concentration and the rate of carbon dioxide (CO2) levels in the atmosphere are spiking, according to new analysis from the World Meteorological Organization (WMO). Scientists believe the record levels are not only the result of emissions but also of plants and oceans' inability to absorb the excess amounts of CO2. "We know without any doubt that our climate is changing and our weather is becoming more extreme due to human activities such as the burning of fossil fuels," said WMO Secretary-General Michel Jarraud . "Carbon dioxide remains in the atmosphere for many hundreds of years and in the ocean for even longer. Past, present and future CO2 emissions will have a cumulative impact on both global warming and ocean acidification." The WMO study found that CO2 concentrations increased more during 2012 and 2013 than during any other year since 1984 --and significantly higher than they were before the Industrial Revolution (278 parts per million in 1750 compared with 396 parts per million in 2013). ...
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