December 9, 2017
DADDY, WHAT WAS OIL?:
US Petroleum Reserve Lease Sale in Alaska Draws Just 7 Bids (DAN JOLING, 12/09/17, Associated Press)
President Donald Trump's efforts to make the United States "energy dominant" with help from Alaska got off to modest results Wednesday.The Interior Department made its largest-ever lease offering within the National Petroleum Reserve-Alaska: 900 tracts covering 16,100 square miles (41,700 sq. kilometers), roughly the size of New Hampshire and Massachusetts combined.But oil companies submitted bids on just seven tracts covering 125 square miles (324 sq. kilometers). [...]The petroleum reserve bids Wednesday pulled in $14.99 per acre, an amount that shows "fuzzy math" by the Trump administration and congressional Republicans who hope to collect $1 billion from Arctic refuge lease sales to help pay for Trump's proposed tax cut, said Kristen Miller, conservation director of the Alaska Wilderness League."At that price, leasing the entirety of the Arctic Refuge coastal plain's 1.5 million acres would raise slightly more than $11 million in revenue for the federal government, a far cry from the billion dollar lie that Trump and Republicans are feeding the American public," she said in a statement.
Oman moves closer to a post-oil economy (Megan O'Toole, 12/08/17, Al Jazeera)
The future of Oman, situated along a vast stretch of coastline reaching the strategic Strait of Hormuz, is linked to the sea - and the country's ability to leverage this connection will be key to its economic development in the years ahead.2018 marks the middle of a five-year diversification strategy that builds on Oman's long-term vision to shift from an oil-based economy towards other critical sectors, including manufacturing, logistics, tourism, fisheries and mining.In an era of low oil prices, Oman - which has the lowest GDP per capita among the Gulf Cooperation Council (GCC) countries and an unemployment rate surpassing 17 percent - wants to refashion itself as a hub for shipping and industry. Facilities such as the special economic zone at Duqm, established in 2011 with a goal of becoming a commercial powerhouse, will play a significant role in this transition.
Posted by Orrin Judd at December 9, 2017 8:51 AM