End Of An Era

RP Weekly Recap | February 1 – 5

Summary

Early last year, the Trump administration’s Department of Energy celebrated a special birthday. “Happy Third Operating Anniversary, Petra Nova!” The release celebrated a Texas based power-plant successfully removing carbon dioxide from the plant’s emissions and safely storing them for three years. But the celebration was short lived as Petra Nova barely made it to its fourth birthday before being shuttered indefinitely in what may be one of the last gasps for carbon capture and storage technology in the U.S. While it is grim news for the aspiring technology, maybe Elon Musk can bring new vigor to CCS with his upcoming carbon capture competition. Check out this story and more in this week’s recap of all things happening in oil and gas!


COVID-19 Updates

COVID-19 Statistics

  • Number of Cases (Worldwide): 105,048,430 (up from 101,687,508 last week)
  • Number of Cases (USA): 26,700,945 (up from 25,793,302 last week)
  • Statistics courtesy of Johns Hopkins

Financial & Economic Updates

U.S. Oil Market News

Global Market News


Employment Updates


United States Rig Count

  • UP 8 from last week for a total of 392
  • Down 50.3% from one year ago
  • Statistics courtesy of Baker Hughes

RARE PETRO Updates

Content UpdatesNews PulsePodcast

  • Episode 9 (3-D Printing) from our newest segment, the Modern Mobile Oilfield is available now! This series is a collaborative effort between world renowned author Geoffrey Cann and RP host Tavis Killian that will expand on topics covered in the book “Bits, Bytes, and Barrels”. This new segment is aimed at energy professionals at any level who are looking to better understand the future of a digital oilfield, and potentially implement these technologies into their company’s workflow. Be sure to watch or listen on all available platforms!

  • Episode Ten of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Professor and the Department Head for the Petroleum Engineering Department at the Colorado School of Mines, heavily decorated SPE member and well published academic, Dr. Jennifer Miskimins!  

  • A new episode of the Periodical Podcast is available now! Be sure to check out our discussion on part two of our three part series covering President Joe Biden’s Energy Policy where we will dive into his second executive order on climate change and how he may have begun to wage a war against the fossil fuel industry which has underpinned the nation’s economy for more than a century.  

  • This week’s Periodical continues with part two of a three three part series investigating President Joe Biden’s Energy Policy and his plan for a Clean Energy Revolution. Part two dives into how Joe Biden wasted no time putting the climate crisis back on the U.S. government agenda, proving to the world he meant business to become the “climate president”. With new executive orders detailing far-ranging plans to shift the U.S. away from fossil fuels in order to create millions of jobs in renewable energy while conserving vast swaths of public lands and water, the commander and chief finds himself at an impasse. Biden has taken office at an inflection point in U.S. energy policy, where fossil fuels still dominate transportation and electricity generation, even as they are starting to lose ground to both market forces and shifting public opinion. Now, even though the United States and the world face a profound climate crisis, Joe Biden needs to take his foot off the gas to implement small steps in order to tackle the climate crisis on a united front instead of waging war against fossil fuels.


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