“Rather than punishing fuels to reduce emissions through regulation, we seek to reduce emissions by innovation.”
Rick Perry, US Energy Secretary
China Is Planning a Nuclear-Powered Icebreaker
Popular Mechanics, Kyle Mizokami, June 25, 2018
China is preparing to start bidding on a nuclear powered icebreaker, the first nuclear powered surface ship in the country’s history. An icebreaker powered by nuclear energy would give Beijing access to the Arctic and its resources. It would also pave the way toward nuclear-powered aircraft carriers, giving the People’s Liberation Army Navy unprecedented reach.
Our Take: With the ever changing climate and evolution of technology, the Arctic is offering new sea routes and exploration opportunities not thought possible. China’s reach will be expanded and could lead to other ships, including aircraft carriers, using nuclear technology.
The Coexistence of Offshore Wind with Oil and Natural Gas is a Win for All Americans
NOIA, Justin Williams, June 26, 2018
NOIA President Randall Luthi issued the following statement regarding today’s House Committee on Natural Resources Subcommittee on Energy and Mineral Resources hearing, “Legislative Hearing on Offshore Renewable Energy Opportunities.”: “NOIA thanks Chairman Gosar and Ranking Member Lowenthal for the invitation to share our perspective at today’s hearing on offshore wind energy. We also thank Gulf Island Fabrication for participating, as they have experienced firsthand what a strong relationship between the offshore oil and natural gas and offshore wind industries can achieve, and their story is one Americans should hear about.”
Our Take: As we have said before, there is room for everyone at the energy dinner table. A productive relationship between different types of energy is a win for America and will help make energy more affordable.
Trump Trade Threats Turn Exxon, Chevron From Backers to Critics
Bloomberg Business, Kevin Crowley, June 26, 2018
Big Oil is losing faith in President Donald Trump’s pledges to build the U.S. into a self-reliant energy superpower. Top executives from Exxon Mobil Corp., Chevron Corp. and Total SA all took shots at Trump’s trade plans at the World Gas Conference in Washington, expressing concern that U.S. tariffs are a risk to oil and gas demand, and that restrictions on importing steel could impede one of the country’s fastest-growing major industries. An executive from BP Plc targeted Trump’s plan to “bail out” unprofitable coal and nuclear power plants.
Our Take: “Restricting trade hurts investor confidence.”
Oil Spending Surges in U.S. With Canada ‘Dying by Our Own Sword’
Bloomberg, Robert Tuttle and Kevin Orland, June 26, 2018
In a rural patch of prairie along the U.S.-Canadian border, the towns of Portal, North Dakota, and North Portal, Saskatchewan, couldn’t be closer. They share a fire department, and the first eight holes of the local golf course are in Canada, while the ninth and the club house are in the U.S. But here in the Bakken shale patch, one of North America’s most-prolific oil fields, the U.S.-Canada border represents a drillers’ divide. Spurred by a surge in crude prices, North Dakota’s production is rising more than three times faster than its counterpart in the Bakken region of Saskatchewan.