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The Forum > Article Comments > As Russia's isolation grows, oil companies caught in middle > Comments

As Russia's isolation grows, oil companies caught in middle : Comments

By Nicholas Cunningham, published 24/7/2014

As The New York Times notes, Russian energy companies are becoming more dependent on Chinese finance to pay for their capital-intensive projects.

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This is from the proponents of oil/gas...
http://www.appea.com.au/oil-gas-explained/benefits/cleaner-energy/

Cleaner energy
Natural gas can help reduce greenhouse emissions in Australia and in LNG export markets.
Renewable energy sources, such as solar power and wind power, are intermittent – they cannot provide continuous power generation. Renewable energy must be combined with forms of baseload power (continuous power generation) and peaking power (which can be brought online quickly in times of high demand).
Gas is suitable for both baseload and peaking power, and it produces much lower greenhouse gas emissions than coal (generally about 50-70% lower). Gradually replacing coal-fired power with gas-fired power would greatly reduce Australia’s greenhouse gas emissions.
When converted to liquefied natural gas (LNG) for export, natural gas can also help reduce greenhouse gas emissions elsewhere in the Asia-Pacific region. For every tonne of greenhouse gas emissions generated by LNG production in Australia, up to 9 tonnes of emissions are avoided in the Asia-Pacific region when this gas is substituted for coal in electricity generation. This has global benefits.Other environmental benefits...
Natural gas also uses much less water than coal-fired power and produces much lower levels of noxious substances such as sulphur dioxide, nitrogen oxides and fine particle emissions. Burning gas instead of coal also improves urban air quality, which is particularly important in many Asian cities.

continued on next post ...
Posted by Albie Manton in Darwin, Friday, 25 July 2014 5:36:41 PM
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The shale gas opportunity
Over the past decade, there has been a technological revolution in the extraction of oil and gas.
In the US, new drilling and production techniques have made it possible to produce gas held in shale rocks.
The emergence of this major new energy source has enhanced US energy security by triggering a rapid increase in natural gas production, which has increased local gas supply and reduced gas prices.
Big resource, big production
In 2012, the US Government’s Energy Information Administration (EIA) estimated the country has about 482 trillion cubic feet (tcf) of recoverable shale gas.
US shale gas production rose from less than 1.3tcf in 2007 to more than 5.3tcf in 2010 – an increase of more than 300%.
In 2000 shale gas provided only 1% of U.S. natural gas production; by 2010 it was 23%. The EIA predicts that by 2035, 46% of US natural gas supply will come from shale gas.
Economic benefits
Rising shale gas production has had an enormous impact on the US, cutting emissions and boosting the economy.
Gas is an important component in many industrial processes. US chemical, plastics, aluminium, iron and steel, rubber, coated metals, and glass industries have been revitalised. The country is now also a net exporter of refined petroleum products.
In a 2012 report, business and economic research firm IHS found that US shale gas production alone will create some 1.5 million jobs by 2015, and 2.4 million by 2035.
The IHS study further concluded that the shale gas boom will continue to drive economic growth, receiving $3.2 trillion in cumulative investment between 2010 and 2035, and contributing $332 billion to US gross domestic product (GDP) by 2035.
Environmental benefits
US greenhouse gas emissions have fallen as industry and consumers switched from coal to gas. The nation’s 2011 emissions were 9% lower than its 2007 emissions.

Continued...
Posted by Albie Manton in Darwin, Friday, 25 July 2014 5:39:26 PM
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Australian shale gas potential
The US Energy Information Administration has estimated that Australia could have up to 396 trillion cubic feet in shale gas resources. At current production rates, this is equivalent to about 185 years of total Australian gas production.
Tapping into these resources would boost Australia’s energy security and economy, and would provide larger reserves of reliable cleaner energy.
Shale gas exploration and appraisal programs are now underway in Western Australia, South Australia and the Northern Territory.
If these programs are successful, Australia could experience economic and environmental benefits similar to those in the US.
Benefits of LNG
Liquefied natural gas (LNG) projects are driving an unprecedented level of investment in Australia, while also delivering reliable and cleaner energy to Asia.
Australia has seven LNG projects under development that will cost industry about $200 billion to build – an investment of more than $1200 per second over the next five years.
In 2012-13, Australia shipped 23.9 million tonnes of LNG cargoes, earning $13.7 billion in export revenue. Australia’s LNG exports are expected to quadruple over the next five years.

ENDS POST.
Posted by Albie Manton in Darwin, Friday, 25 July 2014 5:41:13 PM
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Unfortunately, as I keep bleating - the development of renewable technology will not happen as long as it is easier/profitable to pull oil/gas up from wherever. It will not be until the last mole of gas, or the last litre of crude oil is refined and put in a bottle and auctioned off on E-Bay that we will see any real inroads into these technologies. Battery technology and the design and unit cost of items such as Photo Voltaic cells will dictate this. Exotic minerals and metals used in those technologies will likewise be kept artificially more higher whilst oil/gas is in vogue. They who hold the whips can dictate as they will.
Posted by Albie Manton in Darwin, Friday, 25 July 2014 5:51:42 PM
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Rhrosty

'I'm not the one using Gazan Mothers and their babies as human shields!'

No. But you are one of many in the West who choose to believe all that rubbish. It's your psychological shield to protect yourself from having to face the horror of what Israel is doing to the Palestinians. The only way you can cope with it is to accept the propaganda that Hamas HAS to be causing it.

War Propaganda 101.

And now you are happily choosing to believe all the Western media propaganda about Russia, as it builds to hysterical levels. The possibility that it's all part of a long-term plan to eliminate Russia as an economic power is full of too much moral complexity for you to cope with.

That's your prerogative. And if it makes life simpler and more comfortable for you, all the better.
Posted by Killarney, Friday, 25 July 2014 6:57:56 PM
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Well, no pun intended, Albie that is fine about the tight gas but as
I suspect you are aware those gas fields are ruled by the Red Queen.

That field near Coober Peady for instance, where do they think they
will get the large amount of water for fracking ?
Possibly they have their eyes on Lake Eyre or the Great Artesian Basin.

We should not be reckless and flog off all that gas as we may need it
for CNG for ALL our transport needs.
How long would it all last if it was our sole source of energy ?
Cars, trucks, trains, ships, Industry, electricity, fertilisers, etc etc etc etc ?
Perhaps even aircraft !
Who wants to fly on a coal fired 747 ?
Posted by Bazz, Friday, 25 July 2014 11:38:28 PM
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