BP Annual World Energy Report Shows Natgas Growth in US
Last week BP released their 63rd annual BP Statistical Review of World Energy report (full copy embedded below). Many of the “majors” like BP and Exxon publish an annual look at world energy supplies. What do the wizards at BP find when peering into their crystal ball? Last year worldwide energy usage rose 2.3%, which is up from 2012. However, it’s still below the historical average increase of 2.5%. Translation: the world economy still sucks with fewer jobs and economic activity happening. Natural gas consumption grew by 1.4% last year, well below the historical average of 2.6%. But there was one place in the world where gas consumption rose–yep, right here at home in the U.S. consumption rose by 2.4%. China and the U.S. together accounted for 81% of the growth in natgas consumption last year. What else did the report find?…
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Is Aubrey McClendon getting the band back together again? That is, is he re-creating Chesapeake Energy under the name of American Energy Partners? Perhaps! Yesterday McClendon’s AEP announced that AEP and their major backer Energy & Minerals Group (EMG) are forming a midstream subsidiary called American Energy – Midstream which will invest in pipelines and processing plants in those regions where AEP has active drilling operations–namely the Utica and Marcellus Shale…