Tag Archive | "crude oil"

Daryl Hannah Arrested in Texas


Darrel Hannah ArrestedDaryl Hannah was arrested Thursday. She was protesting the building of the controversial Keystone XL Pipeline by standing in front of a bulldozer ready to start clearing the area.

Protesting was taking place east of Dallas, about 80 Miles. Hannah has been an environmental activist for many years. Last year she was also arrested protesting yet another pipeline plan. That time the arrest was in Washington.

Plans for the Keystone XL pipeline would bring oil from Canada to the Texas Golf Coast in excess of 500,000 barrels per day. The Keystone XL project belongs to oil giant TransCanada Corp.

Hannah stood by the owner of the property in front of bulldozers waiting to start the project. Eleanor Fairchild, age 78, had the her land forcibly taken under context of eminent domain.

TransCanada Corp ensures that the pipeline will be built “Safe and Secure” Although activist have their doubts.

The portion of the project being protested by Hannah will bring the oil supply from Cushing Oklahoma to Texas refineries.

President Obama supports this part of the project, but rejected the northern half of the project, which would bring crude oil across the border from Canada. There have been concerns about building over the water supply in Nebraska.

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Total CEO Says Oil Prices are Escalating Too High and Too Fast


Worldwide oil prices have rapidly increased by towering amounts but the rise in OPEC output will not stop this number from growing.  The ascend is determined by demand, the chief executive of French oil major Total said on Sunday.

Christophe de Margerie, durring an energy conference in Abu Dhabi, capital of UAE, said that the world is just recovering, it would have been better if the prices would not go too high and too quickly.

He said that oil market has been confident because there is growing demand in emerging markets, and the demand is higher than expected.

Brent crude increased above $99 a barrel on Friday in New York, achieving 5.73 percent on the week.  US crude oil for February delivery increased 14 cents to patch up at $91.45 per barrel.

Last week, a Reuters poll showed U.S crude oil is anticipated to reach $100 a barrel in the first quarter of the year. However, a new record of more than $147 is less possible.

When asked if OPEC should increase their production, de Margerie answered it may not help hold back the elevating prices.

He explained that it is difficult because there is no shortage in oil and the increase in oil prices today are driven by the market. In addition, he mentioned that high oil prices which are too high would not be well received by consumers.

Iran’s oil minister Masoud Mir Kazemi said on Sunday that there are no OPEC countries that have requested an emergency meeting to confer the increasing price of crude. He also called the $100 oil as a real price and that it was not a matter of concern for the producers.

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