Oil – Impact Lab

The U.S. just became a net oil exporter for the first time in 75 years

January 19, 2019

America turned into a net oil exporter last week, breaking almost 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what U.S. President Donald Trump has branded as “energy independence.”

The shift to net exports is the dramatic result of an unprecedented boom in American oil production, with thousands of wells pumping from the Permian region of Texas and New Mexico to the Bakken in North Dakota to the Marcellus in Pennsylvania.

Continue reading… “The U.S. just became a net oil exporter for the first time in 75 years”

Alternative Transportation, Breakthrough Thinking, Business, Energy, Historical Perspectives, Science & Technology News

CEO of Tesla says humanity is currently running ‘the dumbest experiment in history

September 11, 2015

Elon Musk said in an interview earlier this year people are running “the dumbest experiment in history” by continuing to burn fossil fuels As Musk explained:

“The greater the change to the chemical composition of the physical, chemical makeup of the oceans and atmosphere [due to increased carbon emissions], the greater the long-term effect will be. Continue reading… “CEO of Tesla says humanity is currently running ‘the dumbest experiment in history”

Automobiles, Science & Technology News, Transportation

Audi made synthetic gasoline without using any petroleum

July 1, 2015

Audi researchers have managed to do something that at first blush sounds impossible, or at least, highly illogical: Without using any petroleum whatsoever, they’ve created a small batch of synthetic gasoline. Continue reading… “Audi made synthetic gasoline without using any petroleum”

Analysis, Business, Globalism, Latest Trend

Who is quietly buying all of the cheap oil?

November 7, 2014

There are 89 tankers sailing for Chinese ports.

The US Shale Oil industry and Venezuala up in arms, Russia is being awkwardly quiet as the ‘secret’ Saudi-US oil deal that pressured prices for crude down to $80 has ‘hurt’ a lot of the world’s producer nations. However, China is the one country that is very grateful, Bloomberg reports.

Continue reading… “Who is quietly buying all of the cheap oil?”

Analysis, Business, Energy, Latest Trend, Science & Technology News, Solar Power, Wind Power

$100B invested in wind or solar will produce more energy than oil

September 18, 2014

By the late 2020s or early 2030s renewables could be competing much more aggressively with the oil market.

Kepler Chevreux, a French investment bank, has produced a fascinating analysis that has dramatic implications for the global oil industry. The investment bank estimates that $100 billion invested in either wind energy or solar energy – and deployed as energy for light and commercial vehicles – will produce significantly more energy than that same $100 billion invested in oil.

Continue reading… “$100B invested in wind or solar will produce more energy than oil”

Analysis, Business, Latest Trend, Science & Technology News

A look at the drilling boom in America

March 7, 2014

In the past few years the impact of domestic oil and natural gas production has seen a significant uptick. The rush of horizontal drilling and hydraulic fracturing in “tight” shale plays around the country is largely responsible for a resurgence of U.S. oil and natural gas production.

Continue reading… “A look at the drilling boom in America”

Analysis, Energy, Latest Trend, Science & Technology News

Future predictions for the oil and gas industry

February 19, 2014

A flawed prediction for oil and gas?

One comment about the oil and gas industry comes up quite a bit from very well educated people in a number of disciplines related to the climate issue – “The oil and gas industry has only got 20 years”. A few years back, a report by the WWF took a similar but slightly less aggressive line, through the publication of an energy model forecast which showed that the world could be effectively fossil energy free as early as 2050.

Continue reading… “Future predictions for the oil and gas industry”

Analysis, Great Videos, People Making a Difference, Recycling, Science & Technology News

Japanese inventor finds solution to global trash problem by converting plastic to oil

November 4, 2013

[youtube]http://www.youtube.com/watch?v=R-Lg_kvLaAM[/youtube]

This YouTube video about the invention of a plastic-to-oil converting machine went viral and exceeded 3.7 million views. This shows that concern over “the plastic problem” is certainly not going away, despite encouraging bans on and decreases in the use of plastic shopping bags.

Continue reading… “Japanese inventor finds solution to global trash problem by converting plastic to oil”

Business, Globalism, Latest Trend, Science & Technology News

The U.S. is the world’s biggest oil producer in 2013

October 19, 2013

The U.S. will surpass Saudi Arabia as the world’s biggest oil producer this year.

According to new data released from the PIRA Energy Group, the U.S. is projected to be the biggest supplier of oil in the world this year when biofuels and natural gas liquids are taken into account.

Continue reading… “The U.S. is the world’s biggest oil producer in 2013”

Analysis, Business, Economy, Latest Trend

Smart policies are good, but oil is better

August 29, 2013

How Texas and North Dakota won the recovery.

If you want to understand how to create hundreds of thousands jobs at once you just need look to Texas and North Dakota. Together, these two states account for a little more than 8 percent of the country’s population — about one in 12 people. But they’re also responsible for 20 percent of net new jobs since the end of the recession. And, crucially, they account for “more than 100 percent of the increase in U.S. [oil] production since 2009,” James Hamilton writes.

Continue reading… “Smart policies are good, but oil is better”

Business, Globalism, Science & Technology News

Global coal demand will challenge oil as top energy source

December 19, 2012

Demand for coal rose 4.3 percent last year.

In the next six years, global coal demand will rise 2.6 percent annually and challenge oil as the top energy source, according to the International Energy Agency.

Continue reading… “Global coal demand will challenge oil as top energy source”

Alternative Transportation, Analysis, Business, Globalism, Historical Perspectives, Latest News

Prius and Volt Set New Sales Records Thanks to High Gas Prices

April 9, 2012

Gas prices are a supreme motivator.

Drivers tend to convert to the fuel-efficiency religion once they get severely wounded in the wallet. It’s a sad fact that environmental concerns alone are often not enough… Of course, the best ways to save on gas costs are to walk, bike, and take transit (for an example of a city that has great sustainable transportation, check out Colombia’s Medellin). But if you’re going to drive, you should get the most fuel-efficient vehicle that meets your needs. Near the top of the list, the Chevrolet Volt and Toyota Prius can be found, and thanks to relatively high gas prices in the U.S. lately, they’ve both set new sales records in March 2012.

Continue reading… “Prius and Volt Set New Sales Records Thanks to High Gas Prices”