Keystone Energy Forum

Governor says support for drilling depends on share of fees, royalties

Fracking doesn't appear to be allowing methane to seriously contaminate drinking water in Pennsylvania, a new study finds - contrary to some earlier, much publicized research that suggested a stronger link.

Onshore production of natural gas in federal areas fell 21.6 percent. The reason is federal policy. In contrast, state and private lands production increased 57.4 percent.

The energy industry - oil & gas sector in particular - is bracing itself for a massive wave of retirements... companies are looking to the next generation of candidates with skills ranging from finance, geology, engineering, law, etc.

A growing consensus is emerging from the likes of BP Plc, the International Energy Agency, shale wildcatters and even the Saudis that a near-term recovery to $100-a-barrel crude isn't in the cards. Instead, expect a range of $50 to $60 for at least the next few years.

Seven governors from coastal states recently agreed to seek consolidated federal legislation establishing a multi-state plan for sharing revenue from federal offshore energy development.

Defying the Republican-run Congress, President Barack Obama rejected a bill Tuesday to approve construction of the Keystone XL oil pipeline, wielding his veto power for only the third time in his presidency.

An Obama administration proposal to allow offshore oil and gas exploration drew hundreds of people to North Carolina's coast for two meetings: one where federal officials gathered comments, and another where drilling critics rallied to voice their opposition.

Waters along the eastern seaboard from Virginia to Georgia are included in a draft plan released by the Obama Administration at the end of last month. If the area is not, at some point, excluded from the proposal, lease sales could happen by 2021.

Falling oil prices threaten to slow the US drilling boom. The downturn has also increased calls to lift the ban on exporting oil and natural gas from the US - an outdated policy that should be changed.