Energy Disruptors see seismic effects from attack on Saudi oil
Chris Varcoe, Calgary Herald, September 18, 2019
At a Calgary conference called Energy Disruptors, it seemed appropriate that Ed Crooks began his speech Tuesday talking about a disruptive event that could have implications for oil producers and consumers around the world. The surprising attack on Saudi Arabia’s oil processing centre on Saturday sent shock waves throughout global oil markets, with crude prices charging higher on Monday, before tumbling back on Tuesday. Crooks, the vice-chair of energy in the Americas for consultancy Wood Mackenzie, called the attack an “absolutely momentous day for the oil market,” one that underscores some of the risks facing the sector. “There has been quite a profound shift in people’s understanding of the global oil market, what’s been a hidden-in-plain-sight (issue) of the vulnerability of world oil supplies due to the disruption in Saudi Arabia,” he told the crowd. “That’s going to be something that people are going to be thinking about very deeply . . . for years to come.”
Murkowski: To Lead In Clean Energy, We Must Lead In Minerals
September 17, 2019, Congressional Hearing
“Minerals are the fundamental building blocks for any modern technology, but they don’t just appear out of thin air,” Murkowski said. “As our energy sector transitions to greater use of renewables, we must acknowledge that these technologies are built from materials that come from the ground. Batteries don’t work without lithium, graphite, cobalt and nickel; solar panels require silver gallium, indium, tellurium; and wind turbines are not just built from steel, but also aluminum, copper, and rare earth elements.” During the hearing, Murkowski released a report compiled by the Congressional Research Service that compares global forecasts for minerals used in renewable technologies. One study, from the World Bank, projects that demand for certain minerals would increase by 1,200 percent under a scenario that aggressively reduces global greenhouse gas emissions. “The United States is capable of being a leader in the development of the minerals needed for clean energy technologies. We have incredible high-grade deposits in states like Alaska, but we have also ceded production, manufacturing, and recycling to our competitors,” Murkowski said. “We have to find the political will to advance policies that allow us to rebuild a robust domestic supply chain. Until we do that, our nation’s ability to develop and lead the world in renewable energy will be limited.”
Our Take: 500,000 lbs. of mining required to get materials for the battery for one electric car. We can accomplish that safely and responsibly in America and Alaska– or in other countries that have loose environmental and labor laws. You make the call.
Movers and Drillers in Cook Inlet
Isaac Stone Simonelli, Alaska Business, September 2019
Hilcorp Energy continues to dominate the oil exploration scene in Cook Inlet—it’s the only company to put in a bid on the State of Alaska’s annual Cook Inlet basin oil and gas lease sale for the third consecutive year. The Houston-based company that specializes in mature fields spent $190,350 on three lease tracts totaling 10,286 acres earlier this year, according to the Alaska Department of Natural Resources (DNR), Division of Oil and Gas. “We are pleased to see bid activity in the Cook Inlet lease sale,” DNR Deputy Commissioner Sara Longan said in a prepared statement earlier this year. “We recognize the focus of investment has been on the North Slope in recent years. Nevertheless, significant investment is made to sustain current Cook Inlet production, while exploration activities continue to inform and support future development.”