Independence

The road to energy independence has two lanes: produce more and consume less. Thanks to growing output from shale plays and increasing energy efficiency, the United States is driving in both lanes and is estimated to reach energy independence by 2025, according to consultancy Wood Mackenzie.

The United States has been the sole customer for Canada’s oil industry, but with energy independence on the horizon south of the border, Canadians are looking for other markets.

Physical natural gas prices tumbled 8 cents overall in Wednesday’s trading as traders prepared for the Independence Day holiday, and many sections of the country expected to see mild weather. Nearly all points were in the red, and Northeast points bucked the downtrend, but a couple of points in the Marcellus suffered losses of over a dollar or more.

Chesapeake Energy Corp. shareholders reelected the company’s board of directors, but rejected separate proposals to implement proxy access, reincorporate in Delaware and declassify the board, the last of which would have made it easier to replace the entire board in one fell swoop.

Texas oil and gas activity is looking up after months of declining rig counts and stagnant natural gas prices, nudging an industry barometer, the Texas Petro Index (TPI), up in March.

Acknowledging that the boom in natural gas has led to cleaner-burning power and greater energy independence in the United States, President Obama last Tuesday in his first State of the Union Address (SOTU) of his second term vowed to cut red tape to speed up the permitting process for new oil and gas permits on public lands.

Acknowledging that the boom in natural gas has led to cleaner-burning power and greater energy independence in the United States, President Obama Tuesday in his first State of the Union Address of his second term vowed to cut red tape to speed up the permitting process for new oil and gas permits on public lands.

Acknowledging that the boom in natural gas has led to cleaner-burning power and greater energy independence in the United States, President Obama Tuesday in his first State of the Union Address of his second term vowed to cut red tape to speed up the permitting process for new oil and gas permits on public lands.

What explorers know about the Mississippian Lime formation could fill a book. What they don’t know about the Midcontinent play could fill a few more, industry experts said Wednesday.