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OPEC’s future uncertain as US oil plays boom

OPEC

The rise of North American oil supplies could test the future of OPEC which may have to curb supply to accommodate rising shale oil volumes, a new report has found. The increase in U.S. output is a “defining feature of tomorrow’s market” according to International Energy Agency’s oil market report and could test the producer group’s share of the global ...

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Bison Wind Projects gets 200-Megawatt Expansion

Minnesota Power

DULUTH, Minn.–(BUSINESS WIRE)– Minnesota Power, a division of ALLETE (ALE), plans to begin construction this year on a 200-megawatt expansion of its Bison wind project that will deliver more economical, carbon-free energy to customers while substantially meeting Minnesota’s renewable energy standard of 25 percent renewable energy by 2025. The project will be the single largest wind addition to the company’s ...

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U.S. approves Lake Charles LNG Terminal

lake charles louisiana lng terminal

WASHINGTON Aug 7 (Reuters) – The Obama administration on Wednesday approved natural gas exports from a third U.S. facility as the government works through a long backlog of projects seeking permission to send gas abroad. The export terminal in Lake Charles, Louisiana, secured a conditional license from the Department of Energy to ship liquefied natural gas to all countries. The ...

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Natural gas not the best option for everyone

Natural Gas

In a state that “flares,” or burns off, 29 percent of the gas it produces as it comes out of the ground, about 91 communities can use natural gas to heat their homes but it’s not an option for everyone. “It’s not as easy as flipping a switch,” said MDU Resources spokesman Rick Matteson. Installing natural gas in a community ...

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Small Shale Companies Outperforming Big Oil

EOG Resources

Oil explorers focused on high-margin shale drilling from Texas to North Dakota are set to outperform Big Oil this year. EOG Resources Inc. (EOG), Pioneer Natural Resources Co. (PXD) and Continental Resources Inc. are poised to reap bigger returns for investors than energy titans 15 times their market values as they devote almost all their drilling capital to higher-margin, domestic ...

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Xcel Energy plans to grow wind power by 30 percent

Xcel Energy

MINNEAPOLIS, July 30, 2013 /PRNewswire/ — Xcel Energy, already the country’s top wind energy provider, proposes to significantly expand its wind power production to reduce customer costs, protect against rising and volatile fuel prices, and benefit the environment. The move is made possible by extremely competitive prices and the extended federal Production Tax Credit. (Photo: http://photos.prnewswire.com/prnh/20130730/LA55514-INFO) (Logo: http://photos.prnewswire.com/prnh/20130312/LA75651LOGO) “Wind energy is ...

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