Feds take step to advance big ConocoPhillips prospect
Alex DeMarban, Anchorage Daily News, August 25, 2019
The Trump administration has chosen a preferred development plan for a big ConocoPhillips project that could significantly boost Alaska oil production, according to an environmental report unveiled Friday for public comment. The Willow project in the northeastern National Petroleum Reserve-Alaska could produce up to 130,000 barrels of oil daily, if developed, according to a draft environmental report released by the Bureau of Land Management. Alaska oil production is averaging about 500,000 barrels of oil daily this year.
Why climate change is so hard to tackle: Our stubborn energy system
Amy Harder, Axios, August 26, 2019
To adequately address climate change on the level scientists say we must, the world would need to slash its use of oil, natural gas and coal within 30 years, a Herculean task given our deep dependence. Driving the news: Democrats on the presidential campaign trail and international leaders preparing for a United Nations summit next month say urgent action is needed, but few actually have viable plans for how and when to cut our fossil-fuel use. The big picture: In 1987, 81% of our world’s energy consumption came from oil, natural gas and coal. Thirty years later, it is still 81% — despite the incredible increase in wind and solar energy, according to the International Energy Agency.
From the Washington Examiner, Daily on Energy:
OIL INDUSTRY FRETS OVER NEW CHINA TARIFFS, WARNS TRUMP TO END TRADE WAR: The American Petroleum Institute warned Trump Friday that his trade war with China is harming the oil and gas industry, and poised to cause more damage.
The oil and gas industry trade group issued an unusually aggressive statement after China announced another round of retaliatory tariffs on $75 billion worth of U.S. goods, including U.S. crude oil and several other petroleum products.
China had already imposed a 25% retaliatory tariffs on U.S. liquified natural gas, just as the country is poised to be a top consumer of the fuel.
“This escalation of the U.S.- China trade war is another step in the wrong direction, the consequences of which will be felt by American businesses and families,” said Kyle Isakower, API’s vice president of regulatory and economic policy. “In addition to the impacts on the U.S. economy and jobs, U.S. energy leadership and global competitiveness are threatened as U.S. natural gas and oil exports continue to serve as targets for retaliation.”
Already feeling the damage: Even before China’s retaliation against U.S. crude exports, API said the trade war has harmed the oil and gas industry.
From October 2017 to June 2018, China had imported 22% of all U.S. crude oil, but that number has dropped to 3%.