Earmarked

President Obama’s $3.77 trillion budget for fiscal year (FY) 2014, unveiled Wednesday, for the fourth time seeks to repeal tax breaks for oil and natural gas producers. It also would tack on new fees for operations on federal lands and increase oil and gas royalties to fund renewable fuel development.

To the chagrin of other local officials and conservationists, the Los Angeles suburb of Whittier, CA, has chosen to use funds originally earmarked to preserve open space in the midst of urban sprawl to instead tap a long-idle oilfield in the middle of densely populated Southern California.

Oil and natural gas “rust” is an “evil worse than depletion,” and in the next seven years, $50-100 trillion should be earmarked to rebuild the world’s aging infrastructure, according to energy guru Matthew R. Simmons.

Oil and natural gas “rust” is an “evil worse than depletion,” and in the next seven years, $50-100 trillion should be earmarked to rebuild the world’s aging infrastructure, according to energy guru Matthew R. Simmons.

Upstream capital spending is pegged to jump a healthy 20% this year versus 2006. However, with most of the money earmarked for international oil projects, North American exploration and production (E&P) companies weighted to natural gas are not expected to deliver over-the-top earnings through the rest of the year, according to several energy analysts.

Upstream capital spending is pegged to jump a healthy 20% this year versus 2006. However, with most of the money earmarked for international oil projects, North American exploration and production (E&P) companies weighted to natural gas are not expected to deliver over-the-top earnings through the rest of the year, according to several energy analysts.

Amerada Hess Corp. has set aside $4 billion for its capital budget this year, with about $766 million earmarked for overseas opportunities. The New York-based producer plans to spend $570 million for exploration and exploitation, with more than half of the exploratory program focused on the deepwater Gulf of Mexico.

World wide liquefaction capacity for natural gas is expected to increase three-fold by early 2011, but only a portion of the incremental capacity will be earmarked for the U.S. market, as the appetite for liquefied natural gas also is soaring in Europe and Asia, according to a new study issued by Energy Ventures Analysis (EVA).

World wide liquefaction capacity for natural gas is expected to increase three-fold by early 2011, but only a portion of the incremental capacity will be earmarked for the U.S. market, as the appetite for liquefied natural gas (LNG) also is soaring in Europe and Asia, according to a new study issued by Energy Ventures Analysis (EVA).