EPA finalizes nation’s first greenhouse gas reporting system
On January 1, 2010 the U.S. Environmental Protection Agency will, for the first time, require large emitters of heat-trapping emissions to begin collecting greenhouse gas (GHG) data under a new reporting system. This new program will cover approximately 85 percent of the nation’s GHG emissions and apply to roughly 10,000 facilities.
“This is a major step forward in our effort to address the greenhouse gases polluting our skies,” said EPA Administrator Lisa Jackson. “For the first time, we begin collecting data from the largest facilities in this country, ones that account for approximately 85 percent of the total U.S. emissions. The American public, and industry itself, will finally gain critically important knowledge and with this information we can determine how best to reduce those emissions.”
EPA’s new reporting system will provide a better understanding of where GHGs are coming from and will guide development of the best possible policies and programs to reduce emissions. The data will also allow businesses to track their own emissions, compare them to similar facilities, and provide assistance in identifying cost effective ways to reduce emissions in the future. This comprehensive, nationwide emissions data will help in the fight against climate change.
Greenhouse gases, like carbon dioxide, are produced by burning fossil fuels and through industrial and biological processes. Fossil fuel and industrial GHG suppliers, motor vehicle and engine manufacturers, and facilities that emit 25,000 metric tons or more of CO2 equivalent per year will be required to report GHG emissions data to EPA annually. This threshold is equivalent to about the annual GHG emissions from 4,600 passenger vehicles.
The first annual reports for the largest emitting facilities, covering calendar year 2010, will be submitted to EPA in 2011. Vehicle and engine manufacturers outside of the light-duty sector will begin phasing in GHG reporting with model year 2011. Some source categories included in the proposed rule are still under review.
Anadarko announces discovery offshore Sierra Leone
Anadarko Petroleum Corporation has announced a deepwater discovery at the Venus exploration well in block SL 6/07 offshore Sierra Leone. The Venus B-1 well was drilled to a total depth of approximately 18,500 feet in about 5,900 feet of water and encountered more than 45 net feet of hydrocarbon pay. Venus is the first deepwater test in the Sierra Leone-Liberian Basin.
“The Venus discovery confirms the existence of an active petroleum system in the basin and enhances the prospectivity of our vast West Africa acreage position,” said Bob Daniels, Anadarko Sr. Vice President, Worldwide Exploration. “With Jubilee on the east and Venus on the west, we have established bookends spanning approximately 1,100 kilometers (700 miles) across two of the most exciting and highly prospective basins in the world. Anadarko and our partners are evaluating the initial results of the well and the forward plan for the prospect, and anticipate additional drilling in the area.”
The Venus prospect is one of Anadarko’s more than 30 identified prospects and leads on its West Africa acreage position, which includes interests in almost 8 million acres across 10 blocks offshore Sierra Leone, Liberia, Cote d’Ivoire, and Ghana. Anadarko operates seven of the blocks and the majority of the identified prospects with an average working interest of approximately 40 percent.
NPD finds gasoline brand loyalty a matter of drivers’ age
Generational differences have contributed to a steady decline in consumer brand loyalty when purchasing gasoline, according to The NPD Group, a leading market research company. According to NPD's Motor Fuels Index which tracks consumer motor fuel purchasing behaviors, consumers over age 65 have always been more likely to limit brand choice to only one brand, while younger consumers historically have been more willing to shop around.
Those reporting they "always buy one brand of gasoline" measured 28 percent in the first quarter of 2009, compared to 34 percent in 2000. When comparing first quarter 2009 loyalty versus first quarter 2000, the 30 to 44 age group experienced the greatest decline in loyalty. In 2000, 18- to 29-year-olds were the least brand loyal; in the subsequent nine years, many of them brought their brand-switching behavior into the 30 to 44 age bracket. Compared to overall brand loyalty, the 30 to 44 age group is now the most likely to try multiple brands among those who have purchased a major brand, according to NPD's Motor Fuels Index.
NPD analyzed the most loyal consumers (those over 65 who only use one brand) and finds their brand choice drivers are more likely to be related to the credit card offering. And, while quality and performance always will be important to the gasoline purchase decision, younger consumers who report loyalty to a single fuel brand also report their brand choice is more likely to be driven by the convenience store offering where they buy gas.
IEA revises 2009/2010 demand higher
The International Energy Agency’s Monthly Oil Market Report (September) said global oil demand is revised up nearly 0.5 million barrels per day (b/d) for both 2009 and 2010, to 84.4 million b/d and 85.7 million b/d respectively, mostly on stronger-than-expected data in OECD North America and non-OECD Asia.
“The global economy is stabilizing, but OECD demand is poised to remain weak for the remainder of this year, while seemingly strong non-OECD demand may be obscured by Chinese stock building.”
August global oil supply was down 400,000 b/d from July to 84.9 million b/d, on lower non-OPEC output. Total non-OPEC estimates for 2009 and 2010 are unchanged versus last month, averaging 51.0 million b/d in 2009 and 51.5 million b/d in 2010. OPEC NGL averages 5.2 million b/d and 6.1 million b/d respectively.
OPEC crude oil supply in August was up 55 kb/d at 28.8 million b/d. OPEC-11 output rose by 80,000 b/d to 26.3 million b/d, or 1.4 million b/d over target. OPEC met in Vienna as this report went to press, with discussions on better compliance the only result announced, and no implication of a further target cut.