8 results back to index
The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters by Gregory Zuckerman
activist fund / activist shareholder / activist investor, American energy revolution, Asian financial crisis, Bakken shale, Bernie Sanders, Buckminster Fuller, corporate governance, corporate raider, credit crunch, energy security, Exxon Valdez, housing crisis, hydraulic fracturing, LNG terminal, margin call, Maui Hawaii, North Sea oil, oil rush, oil shale / tar sands, oil shock, peak oil, Peter Thiel, reshoring, self-driving car, Silicon Valley, sovereign wealth fund, Steve Jobs, urban decay
Local technocrats did their research and received promising reports about Souki’s sites on the Texas and Louisiana coasts. Souki couldn’t get Attiyah or anyone else to sign on the dotted line, however. Cheniere just seemed too tiny and risky. Souki had made a career out of raising cash, but he couldn’t raise a measly $20 or $30 million. There already were four LNG terminals in the United States that had been built in the 1970s, some potential investors noted. Two had been mothballed, and the other two hardly were in use. Who needed another costly LNG conversion facility? Souki, still pitching his crazy idea, flew to a breakfast meeting with Michael Smith at Denver’s Brown Palace Hotel.
Souki described his three-step strategy: Once Cheniere received a permit to build its first plant, Souki planned to find customers willing to give Cheniere lucrative contracts to convert their LNG to natural gas. After Cheniere signed a client or two, Souki figured it would be easy to find backers willing to finance the billion-dollar construction of an expensive terminal and connecting pipeline. After he built one terminal, he’d build a few more. By then, his plan included building four LNG terminals. When he heard Souki’s idea, Smith gave an immediate and blunt reaction. “You’re out of your mind,” he said. “No one’s built an LNG facility in this country in over twenty years. . . . One terminal is a massive undertaking, four at the same time makes no sense.” Just read our plan over, Souki insisted.
The United States needed to become a major importer of liquefied natural gas, he told Congress. The country then could get its hands on cheaper natural gas being produced around the world. Then Greenspan uttered words that could have come out of Charif Souki’s own mouth: “Access to world natural gas supplies will require a major expansion of LNG terminal import capacity,” he said. Alan Greenspan’s speech changed everything for Souki. It was a seal of approval, out of the blue, as if Martin Scorsese had pointed to a struggling actor, ready to give up on Hollywood, as the next Marlon Brando. Within weeks, investors and potential customers gained confidence in Souki’s strategy, helping Cheniere’s stock jump to six dollars a share.
9 dash line, Admiral Zheng, anti-communist, Berlin Wall, British Empire, California gold rush, colonial rule, cuban missile crisis, Deng Xiaoping, drone strike, European colonialism, facts on the ground, failed state, Fall of the Berlin Wall, Hans Island, LNG terminal, market fragmentation, megacity, Mercator projection distort size, especially Greenland and Africa, Mikhail Gorbachev, Monroe Doctrine, oil shale / tar sands, Scramble for Africa, South China Sea, trade route, transcontinental railway, Transnistria, UNCLOS, UNCLOS, zero-sum game
The massive boom in shale gas production in the United States is not only enabling it to be self-sufficient in energy, but also to sell its surplus to one of the great energy consumers—Europe. To do this, the gas needs to be liquefied and shipped across the Atlantic. This in turn requires liquefied natural gas (LNG) terminals and ports to be built along the European coastlines to receive the cargo and turn it back into gas. Washington is already approving licenses for export facilities, and Europe is beginning a long-term project to build more LNG terminals. Poland and Lithuania are constructing LNG terminals; other countries such as the Czech Republic want to build pipelines connecting to those terminals, knowing they could then benefit not just from American liquefied gas, but also supplies from North Africa and the Middle East.
Connectography: Mapping the Future of Global Civilization by Parag Khanna
1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, 9 dash line, additive manufacturing, Admiral Zheng, affirmative action, agricultural Revolution, Airbnb, Albert Einstein, amateurs talk tactics, professionals talk logistics, Amazon Mechanical Turk, Asian financial crisis, asset allocation, autonomous vehicles, banking crisis, Basel III, Berlin Wall, bitcoin, Black Swan, blockchain, borderless world, Boycotts of Israel, Branko Milanovic, BRICs, British Empire, business intelligence, call centre, capital controls, charter city, clean water, cloud computing, collateralized debt obligation, commoditize, complexity theory, continuation of politics by other means, corporate governance, corporate social responsibility, credit crunch, crony capitalism, crowdsourcing, cryptocurrency, cuban missile crisis, data is the new oil, David Ricardo: comparative advantage, deglobalization, deindustrialization, dematerialisation, Deng Xiaoping, Detroit bankruptcy, digital map, diversification, Doha Development Round, edge city, Edward Snowden, Elon Musk, energy security, ethereum blockchain, European colonialism, eurozone crisis, failed state, Fall of the Berlin Wall, family office, Ferguson, Missouri, financial innovation, financial repression, fixed income, forward guidance, global supply chain, global value chain, global village, Google Earth, Hernando de Soto, high net worth, Hyperloop, ice-free Arctic, if you build it, they will come, illegal immigration, income inequality, income per capita, industrial cluster, industrial robot, informal economy, Infrastructure as a Service, interest rate swap, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Isaac Newton, Jane Jacobs, Jaron Lanier, John von Neumann, Julian Assange, Just-in-time delivery, Kevin Kelly, Khyber Pass, Kibera, Kickstarter, labour market flexibility, labour mobility, LNG terminal, low cost carrier, manufacturing employment, mass affluent, mass immigration, megacity, Mercator projection, Metcalfe’s law, microcredit, mittelstand, Monroe Doctrine, mutually assured destruction, New Economic Geography, new economy, New Urbanism, off grid, offshore financial centre, oil rush, oil shale / tar sands, oil shock, openstreetmap, out of africa, Panamax, Parag Khanna, Peace of Westphalia, peak oil, Pearl River Delta, Peter Thiel, Philip Mirowski, Plutocrats, plutocrats, post-oil, post-Panamax, private military company, purchasing power parity, QWERTY keyboard, race to the bottom, Rana Plaza, rent-seeking, reserve currency, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Coase, Scramble for Africa, Second Machine Age, sharing economy, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, six sigma, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, Stuxnet, supply-chain management, sustainable-tourism, TaskRabbit, telepresence, the built environment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, Tim Cook: Apple, trade route, transaction costs, UNCLOS, uranium enrichment, urban planning, urban sprawl, WikiLeaks, young professional, zero day
In a supply chain world, Transneft is a quiet executor of connectivity—paradoxically helping Europe win the tug-of-war against Russia. Furthermore, as American LNG terminals switch from gasification to liquefaction to export excess supply across the Atlantic, Europe will soon have a far more resilient energy infrastructure than before the Ukraine crisis. As of 2014, a new floating LNG terminal called Independence has been positioned off the coast of Lithuania, additional LNG terminals are under construction in Poland, and a Danish North Sea terminal can reverse flows to export excess gas imports southward—all of which means that Europe may soon supply more gas to Ukraine than vice versa.
(And unlike oil, there is no gas cartel.) Chevron, which has been operating in Asia for a century, develops almost half the gas reserves of Indonesia, Thailand, and Bangladesh and leads production of Western Australian gas as well—all mostly offshore reserves that require LNG tankers to ship.*4 An LNG terminal network and Asian gas pipeline grid, along with a gas-trading hub to replace rigid contracts with flexible pricing, would together represent the triumph of supply-demand complementarity over geopolitical division.*5 For Asians, “Drill, baby, drill” is a rallying cry for both energy security and regional stability.
2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, Affordable Care Act / Obamacare, Airbnb, American Society of Civil Engineers: Report Card, asset-backed security, Bakken shale, banking crisis, BRICs, British Empire, business process, business process outsourcing, call centre, Carmen Reinhart, clean water, collapse of Lehman Brothers, collateralized debt obligation, commoditize, creative destruction, credit crunch, currency manipulation / currency intervention, demand response, Donald Trump, Frederick Winslow Taylor, high net worth, housing crisis, hydraulic fracturing, If something cannot go on forever, it will stop - Herbert Stein's Law, illegal immigration, index fund, intangible asset, intermodal, inventory management, Kenneth Rogoff, labor-force participation, LNG terminal, low skilled workers, Mark Zuckerberg, Martin Wolf, Maui Hawaii, McMansion, money market fund, mortgage debt, Network effects, new economy, obamacare, oil shale / tar sands, oil shock, peak oil, Plutocrats, plutocrats, price stability, quantitative easing, race to the bottom, reserve currency, reshoring, Richard Florida, rising living standards, risk tolerance, risk/return, Silicon Valley, Silicon Valley startup, six sigma, Skype, sovereign wealth fund, Steve Jobs, superstar cities, the High Line, transit-oriented development, Wall-E, Yogi Berra, zero-sum game, Zipcar
In 2010 just 3 percent of ethanol production was exported.8 In 2004 and 2005, when U.S. companies were building facilities to allow for the importation of liquefied natural gas (LNG), it was a sign of America’s energy desperation. The thirst for fuel led to a Bad Idea for the Ages: a proposal to set up a floating LNG terminal smack in the middle of Long Island Sound, equidistant between the North Shore of Long Island and the South Shore of Fairfield County, two of the most expensive real estate markets in the nation. It was ultimately abandoned due to environmental concerns. Natural gas signifies vast export potential, and thanks to the advent of hydraulic fracking, U.S. reserves have risen dramatically.
The Hunt for Red October by Tom Clancy
The Dallas and the Pogy were still submerged, somewhere aft, sniffing for additional interference as they neared Capes Henry and Charles. Somewhere farther aft an LNG (liquified natural gas) carrier was approaching the passage, which the coast guard had closed to all normal traffic in order to allow the floating bomb to travel without interference all the way to the LNG terminal at Cove Point, Maryland—or so the story went. Ryan wondered how the navy had persuaded the ship's skipper to fake engine trouble or somehow delay his arrival. They were six hours late. The navy must have been nervous as all hell until they had finally surfaced forty minutes earlier and been spotted immediately by a circling Orion.
A Line in the Tar Sands: Struggles for Environmental Justice by Tony Weis, Joshua Kahn Russell
Bakken shale, bilateral investment treaty, call centre, carbon footprint, clean water, colonial exploitation, conceptual framework, corporate social responsibility, decarbonisation, Deep Water Horizon, en.wikipedia.org, energy security, energy transition, Exxon Valdez, failed state, global village, guest worker program, happiness index / gross national happiness, hydraulic fracturing, immigration reform, Intergovernmental Panel on Climate Change (IPCC), investor state dispute settlement, invisible hand, liberal capitalism, LNG terminal, market fundamentalism, means of production, Naomi Klein, new economy, Occupy movement, oil shale / tar sands, peak oil, profit maximization, race to the bottom, smart grid, special economic zone, working poor
I spent time in Oklahoma working with Sac and Fox Tribal Environmental Protection Agency, under the tutelage of the late environmental justice warrior Jan Stevens, to learn about the legacy of one hundred years of oil and gas on America’s Indian Country—Oklahoma being one of the end-up points of the shameful Indian relocation era. I joined grassroots peoples on the Bay of Fundy in an epic battle against the state of Maine and a liquefied natural gas (LNG) producer that wanted to build a massive LNG terminal on their community’s sacred site, known as Split Rock. The terminal, had it been built, would have provided natural gas to the city of New York for their power plants. I worked extensively with youth on the Navajo reservation in America’s Southwest who were fighting the Peabody Energy coal mining company, to try to stop the mining of Black Mesa, a source of water and a known sacred site in the Navajo Nation.
Imagining India by Nandan Nilekani
affirmative action, Airbus A320, BRICs, British Empire, business process, business process outsourcing, call centre, clean water, colonial rule, corporate governance, cuban missile crisis, deindustrialization, demographic dividend, demographic transition, Deng Xiaoping, digital map, distributed generation, farmers can use mobile phones to check market prices, full employment, ghettoisation, glass ceiling, global supply chain, Hernando de Soto, income inequality, informal economy, Intergovernmental Panel on Climate Change (IPCC), joint-stock company, knowledge economy, labour market flexibility, land reform, light touch regulation, LNG terminal, load shedding, Mahatma Gandhi, market fragmentation, mass immigration, Mikhail Gorbachev, Network effects, new economy, New Urbanism, open economy, Parag Khanna, pension reform, Potemkin village, price mechanism, race to the bottom, rent control, rolodex, Ronald Reagan, school vouchers, Silicon Valley, smart grid, special economic zone, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, transaction costs, trickle-down economics, unemployed young men, upwardly mobile, urban planning, urban renewal, women in the workforce, working poor, working-age population
In India itself new gas discoveries in the Krishna Godavari basin and in Cochin are quickly driving up our total reserves—Reliance Industries’ oil and gas discoveries in parts of the Krishna Godavari basin, it estimates, could supply 40 percent of our domestic production. Dr. Nicholas Stern thinks that these finds make an ambitious nationally networked gas infrastructure viable. “Encouraging LNG terminals and pipelines on both sides of India and extending the country’s gas pipeline should be a core energy strategy,” he says. In fact a complex, intricate grid for piped gas is emerging across the country. And once there is a gas grid in place, we will see economies of scale taking over, with CNG networks into homes and into outlets for buses and cars, and more gas-powered plants.
Oil: Money, Politics, and Power in the 21st Century by Tom Bower
Ayatollah Khomeini, banking crisis, bonus culture, corporate governance, credit crunch, energy security, Exxon Valdez, falling living standards, fear of failure, forensic accounting, index fund, interest rate swap, kremlinology, LNG terminal, Long Term Capital Management, margin call, Mikhail Gorbachev, millennium bug, new economy, North Sea oil, offshore financial centre, oil shale / tar sands, oil shock, passive investing, peak oil, Piper Alpha, price mechanism, price stability, Ronald Reagan, shareholder value, short selling, Silicon Valley, sovereign wealth fund, transaction costs, transfer pricing, zero-sum game, éminence grise
Only Western oil companies possessed the expertise to exploit the field, 342 miles from the shore and containing an estimated 141 trillion cubic feet of natural gas. Ever since its discovery in 1988, Russia had dithered about granting a license. Five Western companies believed they had won the Kremlin’s approval in 1990, but two years later the agreement was canceled. In 1995, Norsk Hydro of Norway, Conoco, Total and others were encouraged to consider an LNG terminal in the Barents Sea, but that was also abandoned. In 2000, Gazprom signed agreements with Exxon, Conoco, Chevron and Shell, and in 2005 invited their bids to build an LNG plant, but the following year Putin excluded all the American companies. By October 2006, in the midst of the argument with Shell, Putin had decided that Russia would develop Shtokman itself.