Articles tagged with "oil-and-gas"
US Taxpayers Will Pay Billions in New Fossil Fuel Subsidies Thanks to the Big Beautiful Bill
A recent report reveals that the Trump administration has introduced nearly $40 billion in new federal subsidies for oil, gas, and coal in 2025 through the One Big Beautiful Bill Act, increasing annual fossil fuel subsidies by about $4 billion over the next decade. This addition raises the total federal support for domestic fossil fuels to at least $34.8 billion per year, marking the largest single-year increase in fossil fuel subsidies since at least 2017. These subsidies build on longstanding tax breaks, some dating back over a century, such as the 1913 deduction for drilling expenses, highlighting the entrenched nature of fossil fuel support in U.S. policy. Efforts to reduce fossil fuel subsidies have faced significant political obstacles. Although President Biden initially pledged to eliminate certain fossil fuel tax breaks to raise $35 billion over ten years, these plans were abandoned during climate legislation negotiations with Senator Joe Manchin, a key swing vote with ties to the coal industry. The resulting Inflation Reduction Act of 2022
energyfossil-fuelssubsidiesoil-and-gascarbon-captureclimate-policyrenewable-energyWhy heavy industry is hiring more contract engineers
Heavy industries such as energy, automotive, mining, and chemical sectors are increasingly shifting from traditional permanent engineering teams to flexible, project-based hiring of contract or “gig” engineers. This transformation is driven by factors including tight budgets, volatile markets, and the need for specialized skills—particularly in automation, controls, robotics, and digital upgrades—that may not be available internally. Following significant workforce reductions after the 2020 oil bust, companies now prefer assembling just-in-time engineering teams tailored to specific projects, avoiding the overhead and long-term commitments associated with full-time employees. Cost analyses reveal that contractors can be nearly half as expensive as full-time engineers when factoring in benefits and overhead, making contract staffing financially attractive in boom-and-bust industries. While this model offers agility and cost savings, it also presents challenges. Heavy industry projects often require deep system integration, and reliance on temporary staff can increase error rates and turnover due to less institutional knowledge. Consequently, companies must invest more in supervision and onboarding of contract engineers.
energyheavy-industrycontract-engineersautomationroboticsdigital-upgradesoil-and-gasIn Trump’s "Big Beautiful" Bill, Ugly Contradictions & Giveaways to Oil & Gas Industry - CleanTechnica
President Trump’s $4 trillion “Big Beautiful” spending bill, signed on July 4, contains significant contradictions regarding energy and climate policy. Despite Trump’s skepticism about climate change, the bill increases federal subsidies for carbon capture projects, but only if the captured gas is used to enhance oil and gas extraction. The legislation cuts support for wind and solar energy—some of the cheapest energy sources—leading to an expected rise in average household energy costs by about $280 annually. It also phases out subsidies for electric vehicles, clean energy, and energy-efficient appliances, while providing substantial tax breaks and subsidies to the oil and gas industry. Key giveaways to fossil fuel companies include a reduction in royalty rates for drilling on public lands from 16.7% (set by the Inflation Reduction Act under Biden) to 12.5%, and the requirement for the Department of the Interior to conduct at least 30 offshore lease sales in the Gulf of Mexico, offering a minimum of 80 million acres each. The bill
energyoil-and-gascarbon-capturesubsidiesfederal-landsdrilling-rightsclimate-policyShale’s Self-Inflicted Crisis: Wastewater Injection Is Sinking Profits - CleanTechnica
The shale industry is confronting a self-inflicted crisis driven by excessive wastewater injection practices, particularly in major basins like East Texas and the Permian. These practices have caused extreme overpressure in underground formations, significantly increasing the costs and operational challenges of drilling new wells. Historically treated as a low-cost disposal method, wastewater injection into mid-depth formations has led to unintended fracturing and migration of pressurized fluids, resulting in elevated subsurface pressures. This overpressure necessitates heavier drilling mud, slower drilling rates, additional casing and cementing, and more complex hydraulic fracturing designs, all of which inflate drilling and completion costs by hundreds of thousands of dollars per well. Beyond cost increases, the overpressure conditions are damaging well integrity due to corrosive produced water, causing frequent well failures and costly interventions. These operational difficulties are pushing many previously profitable shale sites into marginal or uneconomic territory, raising the breakeven price for production substantially. The article highlights this as a classic tragedy of the commons scenario, where
energyshale-industrywastewater-injectiondrilling-costshydraulic-fracturingsubsurface-pressureoil-and-gasAnalysts Say Trump Trade Wars Would Harm the Entire US Energy Sector, From Oil to Solar
energytrade-warstariffsrenewable-energyoil-and-gasUS-economyglobal-recessionA Perfect Storm For Energy Is Coming To The US
energyclean-powernuclear-poweroil-and-gascoalrenewable-energyenergy-transitionBước phát triển mới trong hợp tác dầu khí Việt Nam Liên bang Nga
energyoil-and-gasinternational-cooperationVietnamRussiaenergy-securitysustainable-development