Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels & Petrochemicals.
Small Alberta community becomes shale boom town
Fox Creek, a small town in Alberta, Canada, has found itself at the center of Canada's biggest fracking boom taking place in the Duvernay Shale, where the likes of Chevron, XTO Energy, Encana and Royal Dutch Shell are drilling for condensate at an unprecedented rate. As companies plan thousands of new wells in the region, Fox Creek's economy is set to benefit greatly from the surge in activity, but locals are concerned that hydraulic fracturing could lead to an increase in seismic events.
Pipeline operators could see revenues fall due to US tax overhaul
The new US tax law means pipeline operators may have to cut shipping rates by as much as 10% in some cases, resulting in hundreds of millions of dollars in lost revenue, according to a Wall Street Journal analysis. Dominion Energy, TransCanada and Williams Cos. could be among the hardest hit companies, while operators with more negotiated rates such as Enbridge, Kinder Morgan and Energy Transfer Equity would be less affected.
EIA: US to become net energy exporter by 2022
The US is on track to become a net exporter of energy products by 2022, four years earlier than initially forecast, according to the Energy Information Administration. Meanwhile, domestic energy consumption is expected to climb by just 0.4% through 2050.
US will sell off 100 million barrels of oil
The US government approved the sale of over 100 million barrels of crude oil from the Strategic Petroleum Reserve within a decade. The government also approved the sale of $350 million of government-owned crude oil this year.
Oil spill tax reinstated
The spending bill signed Friday reinstated a 9-cent-per-barrel tax that will be used to fund oil spill cleanups. The tax, which takes effect March 1, will be on all domestic and imported crude oil and petroleum products.
RAPID Institute to debut process intensification webinar series
AIChE's Rapid Advancement in Process Intensification Deployment (RAPID) Manufacturing Institute is launching a series of webinars devoted to the impact of process intensification (PI) on modern chemical manufacturing. The first one-hour webinar offers an introduction to PI principles and approaches, and takes place on Wednesday, Feb. 28, at 11 a.m. EST. The webinars are free for RAPID member organizations, and discounted for AIChE members. Participants receive 1 PDH. Learn more.
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