Even as the United States’ oil and gas extraction efforts are reaching new levels of production and success in spite of continued controversy over fracking, our neighbor to the South is struggling to keep their industry afloat. Mexican state-owned oil company Pemex is proof that oil and gas isn’t a sure bet when it comes to business. Pemex Is Failing Hard In early March, reports began to surface that Pemex was functionally bankrupt. One of
While OPEC has stymied production in the hopes of clearing a surplus of oil and gas on the world market, the United States’ shale producers have gleefully amped up production to fill the hole created in OPEC’s absence. As a result, the United States’ is poised to continue a transition begun under President George W. Bush and then heavily promoted under President Obama. Thanks to some international developments and some recent domestic discoveries, the United States
Maryland’s Oil Ban Is Looking More and More Certain, But Is That Such a Bad Thing for the Industry?
Category: Industry News
On Friday, Maryland’s Republican Governor, Larry Hogan, announced that he fully supports a controversial bill that would ban fracking throughout the entire state. Considering the high profile legislation that’s been making the rounds in Maryland’s Democratically-controlled state Congress, the announcement isn’t at all surprising. Hogan’s support makes the Maryland fracking ban all but a certainty, meaning that Maryland’s oil reserves won’t be contributed to the nationwide stockpile. But, is that really such a bad thing?
Though most of the attention being paid to Alaska’s oil and gas landscape is focused on the controversial debate over whether to drill in the Alaskan National Wildlife Refuge, the state itself continues to yield impressive deposits of oil and gas outside that small stretch of land. On Alaska’s north slope, a joint venture between Denver’s Armstrong Oil and Gas, Inc. and Spanish energy company Repsol SA has yielded an incredible discovery on a patch
The chief argument used by anti-fracking protesters is that, put bluntly, fracking is bad for the environment. Why, anti-fracking proponents ask, when we could implement renewable energy across the board, would we waste our time with a process that’s not good for the environment and the people living in it? Perhaps environmentalists would argue that the answer to that question is “money.” But, let’s assume for a second that the people who run oil and