Daily Archives: January 19, 2012

The Anti-Jobs President

image

Obama rejects the Keystone XL pipeline and blames Congress.

The central conflict of the Obama Presidency has been between the jobs and growth crisis he inherited and the President’s hell-for-leather pursuit of his larger social-policy ambitions. The tragedy is that the economic recovery has been so lackluster because the second impulse keeps winning.

Yesterday came proof positive with the White House’s repudiation of the Keystone XL pipeline, TransCanada‘s $7 billion shovel-ready project that would support tens of thousands of jobs if only it could get the requisite U.S. permits. Those jobs, apparently, can wait.

Unless the President objected, December’s payroll tax deal gave TransCanada the go-ahead in February to start building the pipeline, which would travel 1,661 miles from Alberta to interconnections in Oklahoma and then carry Canadian crude to U.S. refiners on the Gulf Coast.

The State Department, which presides over the Keystone XL review because it would cross the 49th parallel, claimed yesterday that the two-month Congressional deadline was too tight “for the President to determine whether the Keystone XL pipeline is in the national interest.” The White House also issued a statement denouncing Congress’s “rushed and arbitrary deadline,” which merely passed with overwhelming bipartisan support.

This is, to put it politely, a crock.

Keystone XL has been planned for years and only became a political issue after the well-to-do environmental lobby decided to make it a station of the green cross. TransCanada filed its application in 2008, and State determined in 2010 and then again last year that the project would have “no significant impacts” on the environment, following exhaustive studies. The Environmental Protection Agency chose to intervene anyway, and the political left began to issue ultimatums and demonstrate in front of the White House, so President Obama decided to defer a final decision until after the election.

The missed economic opportunity was spelled out Tuesday by Mr. Obama’s own Jobs Council, which released a report that endorsed an “all-in approach” on energy, including the “profound new opportunities in shale gas and unconventional oil.” The 27 members handpicked by the President recommended that he support “policies that facilitate the safe, thoughtful and timely development of pipeline, transmission and distribution projects,” and they warned that failing to do so “would stall the engine that could become a prime driver of U.S. jobs and growth in the decades ahead.”

Only last week the White House issued a “jobs” report praising domestic energy production, but that now looks like political cover for this anti-jobs policy choice.

State did give TransCanada permission to reapply using an alternate route, timetable indefinite. The construction workers, pipefitters, mechanics, welders and electricians who might otherwise be hired for the project—well, they must be thrilled with this consolation prize. Not to mention all the other Americans who might fill “spin-off” jobs on the pipeline’s supply chain like skilled manufacturers and equipment suppliers, or still others who might work in oil refining and distribution.

Environmentalists seem to think they can prevent the development of Canada’s oil-rich tar sands, and that their rallies against Keystone XL will keep that carbon in the ground. They can’t, and it won’t. America’s largest trading partner will simply build a pipeline to the Pacific coast from Alberta and sell its petroleum products to Asia instead, China in particular.

Such green delusions are sad, and Mr. Obama’s pandering is sadder, though everything the country stands to lose is saddest. If Mitt Romney and the other GOP candidates have any political wit, they’ll vindicate the Keystone’s “national interest” and make Mr. Obama explain why job creation is less important than the people who make a living working for the green anti-industrial complex.

Source

Advertisements

Norway: Ulstein Delivers Blue Fighter PSV

image

Ulstein Verft delivered M/V Blue Fighter, the first of two medium-sized platform supply vessels (PSV) of the new PX121 design from ULSTEIN® to Blue Ship Invest, on 19 January 2012.

“The two vessels were ordered based on market trends showing a future increase in demand for this type of PSV. We have entered into an agreement with Remøy Shipping for the management of Blue Fighter and we are negotiating interesting contracts for the ship. In the first instance the vessel will enter the North Sea spot market,” says Gunvor Ulstein, CEO of Ulstein Group and Managing Director of Ulstein Shipping.

Ulstein Verft was contracted to build the two vessels for Blue Ship Invest, a shipping company in ULSTEIN, at the end of 2010, and the first vessel, yard number 291, is delivered to the agreed terms.

The second vessel is due to be delivered from Ulstein Verft in Q3 of 2012.

“The delivery of the first PX121 confirms Ulstein Verft’s ability to build prototype vessels. Experienced people, streamlined processes and a well-established project organisation make us a competitive and reliable shipbuilding partner for advanced offshore support vessels,” says Karsten Sævik, Managing Director of Ulstein Verft.

Efficiency and flexibility has been the focus in the development of the PX121 design. With optimised tank capacities and flexible and segregated tank arrangements, the multifunctional vessel is suitable for many types of supply contracts. The ship is optimised for certain types of operations and adapted to the requirements for longer and deeper boreholes and activities further from shore. In addition to tanks for oil, water and drilling fluids, the vessel has four stainless steel tanks for flammable liquids.

X-BOW® hull

The vessel is built with the X-BOW® hull line design, which is particularly well-suited for this type of vessel. The X-BOW offers efficiency over a wide draught range, which is important for PSVs as they frequently operate with varying loads. Moreover, the X-BOW has unique, advantageous qualities in terms of motion and propulsion efficiency in heavy seas. Both the hull and choice of propulsion system make the vessel particularly suited for North Sea and North Atlantic conditions. The vessel is equipped with a dynamic positioning system IMO Class II.

The ship has a length of 83.4 metres and a beam of 18 metres. It has a cargo deck of 875 square metres and a load capacity of 4200 tonnes (dwt). The ship meets the requirements of DNV’s Clean Design notation and is prepared for fire-fighting class Fi-Fi II. It has a maximum speed of circa 15 knots and modern accommodation for 24 persons.

Ulstein Power & Control has delivered a substantial amount of equipment to the vessel, including switchboards, the information and communication system ULSTEIN COM®, the navigation system ULSTEIN NAV and the integrated automation system ULSTEIN IAS®.

Articles

Source

Australia: Exmouth Plateau Brings Joy to Chevron

image

Chevron Corp. today announced a natural gas discovery in the Exmouth Plateau area of the Carnarvon Basin, offshore Western Australia.

The Satyr-3 well encountered approximately 243 feet (74 meters) of net gas pay. The well is located 113 miles (182 kilometers) north of Exmouth in the WA-374-P permit area, and was drilled in 3,688 feet (1,124 meters) of water to a depth of 13,369 feet (4,075 meters).

George Kirkland, vice chairman, Chevron Corporation, said, “Satyr-3 represents our thirteenth offshore discovery in Australia since mid-2009. This recent discovery reinforces the quality and value of our Australian exploration lease holdings in the Carnarvon Basin.”

Melody Meyer, president, Chevron Asia Pacific Exploration and Production Company, said, “The Satyr-3 discovery adds to our Australian resource base, further supporting our long-term plans to position Chevron as one of the world’s leading LNG suppliers.”

Chevron’s Australian subsidiary is the operator of the WA-374-P permit area and holds a 50 percent interest, with Exxon Mobil and Shell each holding 25 percent.

Articles

Source

Polarcus Acquires 3D Seismic Data Offshore Ivory Coast

image

Rialto Energy Limited reports that a block‐wide, full‐fold 3D seismic survey covering 891km2 has been completed over Block CI‐202 (Rialto 85% and Operator) with Dubai-based contractor Polarcus DMCC.

Processing and interpretation of the newly acquired data will commence shortly and will provide Rialto with a full suite of 3D data over the entirety of Block CI‐202.

This will allow Rialto to further refine existing interpretation and mapping of the exploration potential within Block CI‐202 through better definition and mapping of the multiple prospects and leads already identified. Further, this work will provide an even greater understanding of the 5 existing discoveries and  culminate in better definition of these existing resources.

image

Block CI‐202, offshore Côte d’Ivoire comprises an area of 675km2 and contains four significant underappraised oil and gas discoveries; Gazelle, Hippo‐1, Bubale, and Addax, all located in water depths of 50 to 100 metres. These discoveries  are assessed to have mean contingent resources totalling 50 mmbbls of liquids and 396 Bcf of gas. Rialto is moving to develop and commercialise the Gazelle field later this year. In addition to the development opportunities which exist within  CI‐202, the Company has identified an exciting inventory of exploration prospects and leads which will be the subject of future drilling.

Articles

Source

Technip USA Orders Deepwater Mooring Ropes for Lucius Spar

image

Technip USA, Inc. has contracted Lankhorst Ropes to manufacture the polyester mooring ropes for a new spar platform for the US Gulf of Mexico.

The Lucius truss spar hull will be installed in a water depth of 2,165 metres (7,100 feet). The 23,000 ton spar is designed to produce 80,000 bopd of oil and 450 MMcfm/d of gas. First oil from the project is scheduled for 2014.

Lankhorst Ropes’ offshore rope production facility in Portugal will supply a total of 31,400 meters of their GAMA 98® polyester deepwater mooring rope with 1907tf (4200 kips) minimum breaking load. Production starts in January 2012.

image

Chris Johnson, sales director, Lankhorst Ropes Offshore Division, said, “We are delighted to be working with Technip again. The Lucius contract is testimony to Lankhorst’s well proven, high quality GAMA 98® product which is already installed on three Gulf of Mexico floating production facilities since 2008”.

This will be the 15th spar platform to be delivered by Technip out of 18 worldwide. Detailed design and fabrication of the new hull will be carried out by Technip’s Pori yard in Finland, where most of the previous Technip Spar projects have been manufactured. Project management for will be carried out by Technip in Houston.

Anadarko operates the Lucius field (35%), and its partners are Plains E&P (23.3%), ExxonMobil (15%), Apache (11.7%), Petrobras (9.6%) and Eni (5.4%).

Articles

Source

%d bloggers like this: