New horizons? According to LNG World Shipping, “The LNG community will focus intensely on the direction that the Trump administration takes during its early days.” The piece also recalls that this is a man who famously asked “What is LNG?” during the campaign. The piece also notes that although the new president will be in a position to influence domestic LNG policy in the 2020s, the developments underway are a fait accompli, their momentum established under finalized contracts. The US is assured of its imminent status as a major global LNG player.
Think of the children. Commissioner emeritus of the National Association of Regulatory Utility Commissioners, chairman emeritus of the Alaska Oil & Gas Congress, former chairman of the Alaska Council on Economic Education, and publisher of Northerngaspipelines.com Dave Harbour penned an op-ed in the Washington Times highlighting the state’s fiscal concerns, specifically his concerns with potential intergenerational inequality from various tax plans. “Our state is almost 90 percent dependent on oil revenue, but our great Trans-Alaska Oil Pipeline is three-quarters empty and oil is fetching less than half of what it brought in nearly three years ago,” he opines, “Adding insult to injury, a fair number of Alaskan politicians — including Gov. Bill Walker and former Gov. Sarah Palin have supported higher taxes on an already highly taxed oil industry.” Harbour closes by calling on the coming generation to, “to tell parents and politicians, ‘Don’t buy your generation stuff that I have to pay for.”
According to the EIA, investment in oil and natural gas extraction in Norway was 21% lower in the first half of 2016 compared with the first half of 2015, a decline of about 20.9 billion Norwegian kroner (US $3.5 billion). However, investment cuts have affected some segments of the industry more than others. With the continued high levels of production drilling, EIA expects oil production in Norway to grow modestly in 2016, then return to its prior trend of gradual decline as the number of new fields coming online decreases. Lower levels of exploration drilling may result in a decrease in future production.
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LNG World Shipping, Mike Corkhill, November 9, 2016
The Washington Times, Dave Harbour, November 7, 2016
U.S. crude oil production declines in 2015 after 7 years of growth
Daily Energy Insider, November 8, 2016
Why the Senate is likely to stay the course on energy policy this year
CNBC, Tom DiChristopher, November 8, 2016
Declining investment in Norway affects exploration drilling more than production drilling
US Energy Information Administration, November 9, 2016