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The recent election of Donald Trump has introduced renewed discussions around domestic energy, regulation, and global positioning, all of which promise to impact the future of energy in the U.S. and beyond. Trump’s win will bring about a resurgence of pro-oil and gas policies, but the promotion of clean energy technologies will likely decline. With these developments, the U.S. energy landscape continues to evolve, making it crucial for industry players to stay informed and adaptable.
In this issue of Shale Magazine, we delve into a range of topics shaping today’s energy sector. Our feature articles cover groundbreaking innovations, market dynamics, and pressing challenges. For example, we explore how small businesses are driving a revolution in clean energy and technology, highlighting the importance of entrepreneurial spirit in advancing sustainability and efficiency.
Natural gas remains a major point of discussion, with North America's LNG exports expected to double by 2028, and our team has taken a closer look at the implications of this projected growth. Our analysis of the natural gas storage market further examines how storage capacity and strategies are adapting to demand fluctuations and environmental pressures. And with U.S. oil production on track for another record year, we’re investigating the trends and technologies that are enabling this sustained growth.
As natural disasters have become more frequent and severe, our article on the impact of hurricanes on oil prices reflects on how these events are not only affecting supply chains but also influencing global market dynamics and
pricing strategies. Additionally, in a piece on the Strategic Petroleum Reserve (SPR), we discuss the complexities and challenges of replenishing the SPR, a vital national resource that ensures stability during times of crisis.
We also examine some tough realities within the industry, such as the mixed success of carbon offset schemes and the significant influence of OPEC's decisions on the U.S. energy market. These articles provide critical insights into the challenges of decarbonization and the impact of global politics on domestic energy security.
Finally, we are pleased to share a compelling profile on Brittany Hebert Franklin, a leader in philanthropy who is leveraging her background in the energy sector to make a profound impact. Her story of resilience and dedication serves as an inspiring reminder of the difference one person can make, both within and beyond our industry.
Thank you for joining us in this latest issue of Shale Magazine. Whether you're navigating regulatory changes, exploring new technologies, or simply trying to stay informed on market trends, we’re here to provide the insights and analysis you need to succeed in this everchanging sector.
Here’s to a promising future for energy – one fueled by innovation, resilience, and informed leadership. Until next time.
ROBERT RAPIER Editor-in-Chief SHALE Magazine
Brittany Franklin
ENERGY’S ROLE IN SAVING CHILDREN WITH CANCER
By: Felicity Bradstock
Photography by: Malcolm Perez
rittany Hebert Franklin’s big smile and cheery misdemeanor put you immediately at ease when talking to her. Despite the fact she’s often rushed off her feet, juggling the responsibilities of managing a hugely successful nonprofit and raising a young family, she clearly loves to share her story and hopes to raise more awareness about Childhood Cancer to hopefully one day eradicate the disease.
Franklin joined us to share a bit about her life, including her extensive experience in the oil and gas sector, making Houston her home, and the rapid growth of her organization - Sky High for Kids, as well as her ambitions for the future.
FRANKLIN’S BRAINCHILD -SKY HIGH FOR KIDS
Sky High for Kids (Sky High) was founded by Franklin in 2007 during her senior year at the University of Louisiana at Lafayette. The inspiration came from a trip to Tennessee as a teenager, where Franklin visited St. Jude Children's Research Hospital and the Ronald McDonald House Charities, Memphis.
St. Jude conducts research aimed at understanding, treating, and defeating Childhood Cancer and other life-threatening diseases, while the Ronald McDonald House offers housing support for families dealing with a child's serious illness at no cost.
During the visit, Franklin was shocked to see children having to fight for their lives at such a young age after being diagnosed with cancer and immediately wanted to do something. Being the fearless, risk-taking young student she was, Franklin decided to start her own organization to support the work of expert medical organizations such as St. Jude.
A START IN OIL AND GAS
Sky High was initially volunteer-led by Franklin and some of her closest college friends, while she was applying to law schools and looking to further her education. However, Franklin’s life quickly changed course when she was offered a role in logistics in Houston by the oil and gas company Pegasus International. Franklin jumped at the offer, driving west and never looking back.
During her 13 years in oil & gas, Franklin learned to be a problem solver – a skill that she uses every day at Sky High. She told us, “The oil and gas industry is full of innovative and creative risk-takers.” It’s important to take risks, stay resilient, and, importantly, build trust.”
Franklin explained that building long-lasting relationships has been key to ensuring donors trust in Sky High to use their funding responsibly.
Unlike many organizations, Sky High sees the value in talking to its supporters face to face, rather than purely promoting the cause online. Franklin believes this is the only way that she can communicate the importance of Sky High’s work in fighting Childhood Cancer.
She emphasized the importance of a ‘power of three’ approach. “If you meet one person, they know three more they can introduce you to. That has been key to the expansion of our donor network,” Franklin told Shale.
FROM VOLUNTEER LED TO A FULL-TIME JOB
In 2020, Franklin stepped away from a successful career in oil and gas to take on the full-time role as CEO of Sky High. The nonprofit was volunteer-led for seven years, and in that time the organization grew exponentially, raising millions of dollars in funding and supporting major advances in cancer research. However, “Sky High just became too large to be run part-time by volunteers, it required a full-time commitment to help find a cure to Childhood Cancer,” Franklin told Shale. Despite having several full-time employees, Franklin stressed the importance of the hundreds of volunteers who continue to expand Sky High’s reach, plan events, pack supplies for families, and write handwritten cards for the organization’s thousands of supporters.
FUNDRAISING, COMMUNITY AND COLLABORATION
After over a decade leading Sky High, Franklin has learned to be a master event planner. She’s hosted dozens of cancer warrior carnivals, galas, and brunches and brings all Sky High’s events in at under 20% of the cost for return, meaning that there is an extremely low expense ratio on the money raised. In addition to Sky High’s fundraising efforts, Franklin views community engagement and collaboration with other organizations as key to progress. “We meet once a month with other pediatric cancer organizations to discuss needs, efficient fundraising execution, and see how we can fill the gaps,” Franklin told Shale. She stressed that they don’t want to fundraise against other organizations and that raising awareness and funds together can help further the cause. It is because of this that Franklin often works as a consultant and professional auctioneer, helping other organizations get off the ground and raise funds. “Around 60% of nonprofits never break the million-dollar revenue mark,” said Franklin. “There’s so many good people trying to do big things and solve problems, but building a nonprofit is hard work”, Franklin explained. She told us that she’s learned many lessons through trial and error, and after 18 years working in the nonprofit sector, she believes she can help others avoid making the same mistakes.
CHALLENGES IN THE FIELD
Sky High has come a long way since 2007, but it’s not been without its challenges. “The nonprofit sector in the U.S. is saturated right now,” said Franklin. “Many of these organizations have great ideas but don’t maximize the donor dollar, which can taint the landscape for other nonprofits,” explained Franklin. Another major issue is burnout. Volunteers and employees in nonprofits need to be passionate about what they do. “We need top talent to achieve our goals, but employees are often underpaid and overworked – working around 80 hours a week during the peak fundraising season, which means retainment is tough,” Franklin told Shale. Nevertheless, “there are huge benefits to what we do”, stressed Franklin.
WHERE DOES THE FUNDING GO?
Through Sky High, Franklin’s aim is ultimately to bring an end to Childhood Cancer. To manage funds successfully, Sky High consults with partner hospitals and research centers to understand where donor funds can best serve the cause. Sky High invests in groundbreaking research, the development of better treatment protocols, and supporting children and families who are going through the most challenging time of their lives.
Following the expert advice of its partners, Sky High made a $10 million commitment to support the build-out of the Immunotherapy Center at Texas Children’s Hospital in Houston. This is the “first and only center that’s solely dedicated to pediatrics in the entire country,” said Franklin.
Sky High is already seeing the results of this investment. “We know people that are in the immunotherapy treatment programs now who went through chemo, radiotherapy, and other traditional types of treatment that were not working. They were not responding. Now, we are seeing that immunotherapy is saving lives. So, after 10 years of clinical trials, the proof is there,” Franklin told Shale.
“Our goals are to create new research options,” said Franklin. “We can’t wait on pharma to invest in clinical trials,” she added. Franklin stressed the importance of funding in both research and developing better and less harmful treatments for children who want to go on to lead full lives.
ADDICTED TO PLANNING
Sky High is just one of Franklin’s babies and she constantly has to find ways to manage life as a high-flying CEO, a wife to husband Bobby Franklin, and a mom to her young daughter Stevie James. Franklin doesn’t believe in a ‘work-life balance’, instead she emphasized the importance of juggling work with being a good mother and a good friend. This is why she coordinates all the social activities and vacations in her life.
“I’m neurotically addicted to my calendar,” said Franklin. Since being in college Franklin has had a paper planner to organize her work and social life, which has made her a master planner. “I live, sleep, eat, and breathe this thing! I write down and prioritize everything,” Franklin told Shale.
There may not be a formal work-life balance in Franklin’s world, but she tries to make sure that if she has two events in one week, she’ll stay home with her family and not travel the next week. In her free time, Franklin loves doing outdoor activities with her friends and family, such as hunting and fishing, but her favorite thing is gathering everyone around the table for her delicious Cajun dishes.
IF YOU’RE KNOCKED DOWN, YOU GET BACK UP
While Franklin has experienced huge success in both her career in oil and gas and her position as CEO of Sky High, it has not been without its challenges. “In any industry – I started in the male-dominant oil and gas sector, which is also our large donor base – it is difficult to be taken seriously as a young woman without a fancy degree that has lofty goals and ambitions,” Franklin told Shale.
Franklin didn’t attend an Ivy League school or pursue a graduate degree in law, which she once considered. She came from humble beginnings in smalltown Louisiana and has worked extremely hard to get to where she is today. She has always surrounded herself with mentors who told her that if she was fearless, authentic, and resilient she could achieve her goals. “If you’re knocked down, you need to get back up,” said Franklin. This lesson has been ingrained in her and following her career success she has tried to share it with other girls and women in her life.
BATTLING DISEASE AND MAKING A DIFFERENCE
In addition to personal challenges, Franklin has had to be strong during difficult times at Sky High. Franklin shared with us one of the many stories that has stuck with her throughout her time working with children battling cancer.
“A few years ago, nine-year-old Berra B. was diagnosed with brain cancer. One day she was feeling great and catching butterflies and the next day she had a headache and was told the devastating news by doctors,” said Franklin.
Her parents, who came from Turkey, worked in the oil and gas industry. A colleague of theirs reached out to Sky High for help. When Franklin spoke to them, they told her that all Berra wanted was an art shed in her backyard to make art and jewelry, so she quickly organized the funds to build the space.
Brain cancer is the deadliest form of Childhood Cancer and is severely underfunded. Understanding this at such a young age, Berra began to make bracelets to sell to friends and family to raise funds for brain cancer research. Although she was not able to come out the other side of her battle with cancer, she did something life-changing. Berra launched her own organization to help other children fighting cancer, which her mother has since taken over, allowing her legacy to live on.
HOW TO BE RESILIENT IN DIFFICULT TIMES
Franklin stressed the importance of resilience in her role at Sky High. She told us that from a young age, she learned it’s important to “outwork your neighbor and follow your gut.”
“Authenticity is key to achieving success because other skills can improve but you likely got where you are by being yourself,” said Franklin. “Don’t be timid and don’t fear looking powerless. Ask questions to people who have been doing it longer than you to learn from them and take risks!” Franklin added.
At the beginning of the Covid-19 pandemic in 2020, Franklin was told she should close the doors at Sky High because it wouldn’t last. Instead of giving up, “I felt the fire inside my belly,” Franklin told Shale. She felt that there was no way Covid would bring the mission down when kids were still getting diagnosed with cancer. It was precisely her stubborn resilience that has helped Sky High become the successful nonprofit that it is today.
INTERNATIONAL EXPANSION
Following its massive growth in the U.S., Sky High has expanded its operations to other parts of the world in recent years. In 2018, Sky High began to fund training operations in sub-Saharan Africa, where specialists from Texas Children’s Cancer Center are sharing their knowledge and expertise with medics to diagnose and treat various types of cancer in children through their Global Hope program.
The decision to expand to sub-Saharan Africa once again came from the advice of Sky High’s expert partners. While in the U.S. around 80% of the 16,000 children diagnosed with cancer each year are cured, around 90% of the 100,000 children who develop cancer in Sub-Saharan Africa each year do not survive. Since it was launched, Sky High has supported training for over 6,800 healthcare workers including 30 PHO specialists and 128 nurses.
Based on the success of the scheme in Africa, Franklin would like to expand to other areas of the world that do not have the tools and expertise to respond to the disease. She hopes to help more countries treat and cure thousands of cases of Childhood Cancer every year.
WHAT LIES AHEAD?
It is perhaps no surprise that Franklin has big dreams for Sky High’s future. She aims to increase the total funding raised by the organization to $60 million by 2028, from $31 million today. To do this, Sky High needs to expand by partnering with other organizations across the country and raising more awareness about Childhood Cancer. Franklin emphasized that this figure is not just about dollars raised but about the impact of every dollar on children and families battling cancer.
Franklin shared with us Sky High’s three main strategic goals. She aims to expand Sky High’s charity of choice division so that restaurants, corporations, and families can carry out their own fundraising events for Sky High.
Sky High is also expanding its family member bundles, asking corporations to sign up at the beginning of the year with a donation of either $30,000, $50,000, or $100,000, which allows them to attend an array of Sky High’s events and visit children and families being supported by the donations.
Finally, Sky High wants to encourage ‘major gifts’ by asking loyal donors to leave a legacy gift, to make a larger impact. Major gift naming opportunities for donors are available at partner facilities, such as Texas Children’s and St. Jude, for their generosity.
CALL TO ACTION
Franklin knows she’ll face a wide range of obstacles going forward. “The government gives just 4% of its funding to Childhood Cancer,” said Franklin, referring to the budget of the federal government's principal agency for cancer research and training – the National Cancer Institute (NCI). This is because “far fewer children are diagnosed with the disease than women battling breast cancer,” for example, explained Franklin. She puts the limited funding largely down to a lack of public awareness about the illness.
Childhood Cancer is still the number one cause of death by disease for children in the U.S. Franklin believes if more people knew this fact, they would be more willing to donate funds and there would be a better chance of eradicating Childhood Cancer.
Sky High’s job, therefore, is to “do better at gathering and educating more people on the severity of what’s going on,” explained Franklin. To tell people, “Don’t wait until it’s your child or your friend’s child, act now!”
Franklin left us with a message of hope and encouragement. She said she’d like to thank those in the oil and gas industry who have helped Sky High become the successful organization that is today. Because of the industry’s trust in her and her vision, Sky High has had a positive impact on the lives of hundreds of thousands of children across the globe. Franklin also called on those in the industry who have not already, to join the fight against Childhood Cancer.
About the author: Felicity Bradstock is a freelance writer specializing in Energy and Industry. She has a Master’s in International Development from the University of Birmingham, UK, and is now based in Mexico City.
Natural Gas Storage Market: Tapping on the Domain of Innumerable Opportunities
By: Aashi Mishra
DID YOU KNOW THAT IN 2023, natural gas consumption globally reached almost 4 trillion cubic meters? This significant production of natural gas requires adequate storage. Gas is widely used in transportation, cooking, heating, and generating electricity. However, a lot of natural gas gets wasted during extraction. For instance, the average rate of natural gas leak rate is assumed to be between 2% to 3.5%.
Furthermore, plenty of market players are harnessing the benefits by compensating for the fluctuating gas consumption on a larger scale. It has been estimated that net profit on natural gas services in June 2024 was almost 9.2%. In this article, we will understand various aspects associated with the natural gas storage market and types of storage facilities.
Natural gas can be stored for a long period as a commodity and numerous countries are buying much more than they need. Countries are exporting and importing between each other through pipeline networks or tankers. Demand for natural gas is highly fluctuating, however the production is relatively constant.
There are primarily two types of storage commonly used: underground and floating. Furthermore, underground storage can be classified as follows:
• Depleted gas reservoirs: It is the most commonly used storage method of natural
gas. These are mostly situated close to consumption centers. Here, the field is converted into storage facilities and various companies garner benefits from existing wells and pipeline connections. Data published by the Energy Information Administration shows that out of 400 active underground storage facilities in the United States, 79% are depleted gas reservoirs.
• Aquifer reservoir: Permeable rock formations act as natural water reservoirs. In various conditions, these are reconditioned and utilized as a natural gas storage avenue. However, aquifers are more expensive than depleted gas reservoirs and are used only in cases where no depleted reservoir is situated nearby. Data published by the EIA shows that in 2021, there were 403,747 aquifers present in the United States.
• Salt caverns: The underground storage caverns are utilized to store large quantities of natural gas. Salt caverns are adequate to store natural gas and allow little escape from the gas until purposely extracted. According to the Department of Transportation, there are almost 36 salt caverns for natural gas present in the U.S.
Natural Gas Storage Market Analysis: The Natural Gas Storage Market garnered USD 8.34 billion by the end of the year 2023
and is anticipated to acquire a revenue of USD 14.4 billion by 2036. The growth-bolstering factors for the market are:
• Surge in import and export of natural gas
• Rising demand from the industrial sectors
• Increasing usage for electricity generation
• Rising usage of natural gas as fleet vehicle fuel
• Rising utilization in cooking
Some of the prominent companies in the domain of natural gas storage landscape are Foster Wheeler AG, WorleyParsons Limited, Centrica plc, British Gas Services Limited, Access Gas Services Inc, EON SE, Samsung Heavy Industries Co., Ltd, Chiyoda Corporation, Spectra Energy Corp, and Technip S.A.
Furthermore, Asia Pacific has become one of the prominent growth exhibiting regions in the world. For instance, China consumed almost 364 billion cubic meters of natural gas in the year 2022 and became the 3rd largest natural gas market. The growth of the market in the region can be attributed to the presence of a large consumer base.
Other than this, the U.S. exports large amounts of natural gas to various countries such as Mexico and Canada. The extreme weather conditions lead to the widespread usage of natural gas for heating purposes. Let us take a glance at natural gas reserves country-wise:
Wrapping up
The above information illustrates that the natural gas storage market holds a plethora of lucrative opportunities of growth. However, for established as well as budding market players, market players must understand the market intricacies. An exhaustive research report helps market players in making sound business decisions. It includes important parameters such as regional analysis, market constraints and drivers, latest trends, revenue prediction, etc. These factors give a competitive edge to the entrepreneurs.
About the author: Aashi Mishra is currently working as a content developer with the Research Nester. An electronics engineer by profession, she loves to simplify complex market aspects into comprehensive information. She has experience of 3 years in this domain where she has mastered in tech writing, editing, copywriting, etc.
The IEA’s Polarizing Role in Deciding the Future of Oil
By: Jess Henley
IN JUNE OF THIS YEAR, the International Energy Agency (IEA) made headlines when it forecasted that the world will reach peak oil in 2029, followed by a decrease in demand by 2030. Despite the prediction, non-OPEC members, such as the U.S., Canada, and Brazil, are expected to increase their output. The IEA report notes that increased production coupled with decreased demand will invoke an oversupply of oil by the end of the decade.
Historically, the EIA has remained impartial and dispassionate about reporting the state of energy and the transition away from fossil fuels. However, this latest report sparked anger from oil companies, leading them to claim the energy watchdog is “playing climate change politics” rather than reporting unbiased information.
The IEA Forecast
The Paris-based energy reporting agency noted that global oil markets will face multifaceted challenges over the next few years. Citing regional economic struggles, increased demand for electric vehicles and renewable energy resources, and other diverging hardships, the IEA forecasts a significant demand decrease for oil by the end of the decade.
At the same time, the IEA report indicates an increase in production, leading to an excessive surplus of oil from 2025 onward. The report further predicts a surge in Natural Gas Liquids (NGLs) and condensates, accounting for 45% of new capacity increases from 2025 to 2030.
The report claims that the increased production could potentially create a new problem for refiners. An increased desire for non-refined products, such as NGLs and biofuels, displaces demand for refined products. The report further projects potential pitfalls for refiners as the demand for electric vehicles increases worldwide.
The forecast also predicts an unprecedented surge in global supply capacity by 2030. “Total supply capacity rises by six mb/d to nearly 113.8 mb/d by 2030, a staggering eight mb/d above projected global demand of 105.4 mb/d,” the forecast claims.
OPEC and the IEA At Odds
Although the IEA and OPEC fairly recently shared aligned predictions on oil demand, this new forecast has diverged the two organizations exponentially. The Saudi Arabian-led coalition foresees no peak on the horizon in oil, with oil use rising to at least 116 million barrels per day in 2045.
Although the IEA is now focusing on the world’s energy transition away from fossil fuels, OPEC believes abandoning reliance on oil and gas would destabilize energy markets, leading to disastrous consequences.
However, the Middle East is not alone in its disagreement with IEA’s predictions. The energy reporting agency recently came under scrutiny within the U.S., leading to an increased call for America to cease funding the energy watchdog.
Carla Sands, who helps run energy policy at the America First Policy Institute, says, “The next president should work…to end this progressive echo chamber and return the IEA to its original, nonpartisan mandate of promoting energy security. Taxpayer dollars should not fund an organization that works against the interests of the American people.”
The Report’s Impact
Naturally, the IEA’s reports can significantly impact companies and governments that rely on the agency’s reporting as a trusted information source on global energy. However, the agency is often scrutinized by climate change activists for failing to account for the rapidly expanding renewable energy infrastructure and industry.
The Paris-based energy reporting agency noted that global oil markets will face multifaceted challenges over the next few years.
The forecast that oil demand would decrease by the end of the decade “is an unrealistic scenario, one that would negatively impact economies across the world. It is simply a continuation of the IEA’s anti-oil narrative”, wrote OPEC’s secretary-general Haitham Al Ghais in June.
The OPEC executive continued to call the IEA’s predictions “dangerous, especially for consumers, and could lead to unprecedented volatility.”
Although the IEA has not had the best track record for their forecasts, claiming the oil plateau is just around the corner could lead to energy price hikes and other economic uncertainty.
Of course, while we all want to do our part for the energy transition, predictions like the IEA’s and rapid transition policies could yield instability and uncertainty for the sector’s future. Striking the balance between transitioning from fossil fuels and meeting energy demands will take time and a significant global investment.
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As the world watches and works towards the energy transition, you can rely on our team to bring you the latest insight and investigative reporting. Start your subscription to Shale Magazine today and stay informed on the news that impacts your world.
If you prefer your media in podcast form, we’ve got you covered. Check out our critically acclaimed podcast, The Energy Mixx Radio Show, where we interview movers and shakers across the financial, energy, and Industrial sectors.
About the author: About the author: Jess Henley began his career in client relations for a large manufacturer in Huntsville, Alabama. With several years of leadership under his belt, Jess made the leap to brand communications with Bizwrite, LLC. As a senior copywriter, Jess crafts compelling marketing and PR content with a particular emphasis on global energy markets and professional services.
U.S. Oil Production on Track for Another Record Year
By: Robert Rapier
According to the latest Weekly Petroleum Status Report from the U.S. Energy Information Administration, year-todate daily average oil production is 13.2 million barrels per day. That is 6.5% higher than last year’s record production of 12.5 million BPD.
This ongoing growth in U.S. oil output remains a key driver of the global energy market. U.S. crude oil production will almost certainly set a second consecutive record this year, reflecting strong demand and advances in extraction technologies, particularly in shale oil.
The surge in U.S. oil production can be attributed to several key factors that have significantly transformed the industry over the past two decades.
A major driver is the shale oil boom. Advances in hydraulic fracturing (fracking) and horizontal drilling have unlocked vast oil reserves in shale formations, particularly in areas like the Permian Basin in Texas and New Mexico. These technologies have allowed producers to access oil that was previously economically inaccessible, contributing to a significant increase in domestic production.
Another critical factor is the role of technological advancements. Improvements in extraction techniques and drilling processes have led to greater well productivity. This means producers can extract more oil from existing fields, often at a lower cost. Enhanced drilling precision and data analytics have helped reduce operational inefficiencies, making U.S. oil production more resilient and cost-effective.
In addition, investment in infrastructure has played a significant role in supporting higher production levels. The expansion of pipelines, refineries, and export terminals has made it easier to transport and process large volumes of oil, ensuring that producers can meet both domestic and international demand. This infrastructure has also facilitated the U.S.’s rise as a major crude oil exporter.
Global oil demand has also spurred the increase in production. As economies recover from the disruptions caused by the COVID-19 pandemic, oil consumption has rebounded, particularly in rapidly growing regions like Asia. This has helped keep global oil prices at a healthy level for producers. The U.S., with its abundant oil supply, has been able to capitalize on this demand by exporting more crude oil to international markets.
The favorable regulatory environment in the U.S. has further bolstered the industry. Energy policies in recent years have generally supported oil and gas exploration, providing incentives for the continued development of domestic resources. This has encouraged producers to ramp up operations and increase output.
Finally, the recovery in oil prices has incentivized more production.
After the sharp decline in oil prices during the pandemic, prices have rebounded, making many previously unprofitable projects viable once again. Higher prices have led producers to resume drilling and invest in new projects, contributing to the ongoing surge in U.S. oil production. These factors combined have propelled the U.S. to record production levels, solidifying its position as a global energy leader.
About the author: Robert Rapier is a chemical engineer in the energy industry and Editor-inChief of Shale Magazine. Robert has 25 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries and holds several patents related to his work. He has worked in the areas of oil refining, oil production, synthetic fuels, biomass to energy, and alcohol production. He is author of multiple newsletters for Investing Daily and of the book Power Plays. Robert has appeared on 60 Minutes, The History Channel, CNBC, Business News Network, CBC, and PBS. His energy-themed articles have appeared in numerous media outlets, including the Wall Street Journal, Washington Post, Christian Science Monitor, and The Economist.
Higher prices have led producers to resume drilling and invest in new projects, contributing to the ongoing surge in U.S. oil production.
Weathering the Storm: Understanding the Impact of Hurricanes on Oil Prices
By: Tyler Reed
As we endured what meteorologists had predicted to be an unusually intense Atlantic hurricane season, with forecasts estimating 20 to 25 named storms (storms that reach a certain level of intensity and are given a name for tracking purposes) and a possibility of up to 30, the U.S. oil and natural gas industry braced for potential disruptions.
The heightened risk for weather-related production outages poses concern for energy markets, especially given the strategic importance of coastal regions to U.S. petroleum infrastructure and the Strategic Petroleum Reserve remaining depleted. Here, we’ll look at how hurricanes affect oil prices and markets as a whole.
Understanding Hurricane Season and Its Timing
The Atlantic hurricane season, defined by the National Oceanic and Atmospheric Administration (NOAA), spans from June 1 to November 30. Typically, the season begins with forming early named storms in June, while more severe hurricanes tend to develop in August and early September. Hurricanes most commonly impact the Southeastern U.S. and the Gulf Coast, critical areas for the U.S. oil and natural gas sectors.
Impact of Hurricanes on Petroleum Markets
Hurricanes profoundly affect petroleum markets, primarily through disruptions in crude oil production and refinery operations. The Federal Offshore Gulf of Mexico (GOM) is a major U.S. crude oil production hub, contributing approximately 14% of the national output in 2023. During hurricanes, offshore oil platforms often experience significant operational interruptions, including evacuations and temporary shutdowns to safeguard personnel and infrastructure.
Refinery operations are equally vulnerable. The Gulf Coast houses nearly half of the U.S. refining capacity, with significant facilities in Texas and Louisiana. These refineries are prone to flooding and power outages during major storms. The region’s refineries, such as Motiva’s Port Arthur and ExxonMobil’s Beaumont, represent critical parts in the U.S. refining machine. Disruptions here can substantially reduce American refining capacity, affecting gasoline and diesel supplies nationwide.
Effects on Natural Gas Markets
Natural gas markets also face risks from hurricanes, though the impact has diminished in recent years. The Gulf of Mexico was once a significant source of U.S. natural gas, but its contribution has decreased significantly, from 17% of total U.S. production in 2005 to less than 2% in 2023 as production in other areas of the country has ramped up. Consequently, while hurricanes can still cause temporary reductions in natural gas output, their overall impact on the national supply is limited.
Hurricanes can, however, disrupt liquefied natural gas (LNG) export volume. The Gulf Coast’s LNG export facilities, which have a combined capacity of nearly 13 billion cubic feet per day, are quite susceptible to weather-related interruptions. For instance, Hurricane Laura in 2020 temporarily halted LNG exports from the critical Sabine Pass and Cameron facilities in Louisiana. These disruptions introduce additional volatility to global LNG markets and can negatively affect U.S. export revenues.
Determining the Scale of Impact
The severity of a hurricane’s impact on petroleum markets largely depends on its location and intensity. A storm hitting a region that doesn’t have much in the way of production or refining infrastructure is obviously less likely to disrupt overall U.S. supplies. However, even without direct impacts to facilities, hurricanes can still disrupt the supply chain and cause localized supply shortages, as seen in areas like Florida, which largely relies on barge shipments from Gulf Coast refineries.
Refinery Capacity and Risk Management
The refining capacity at risk from hurricanes is substantial. The Texas Gulf Coast alone boasts 5.5 million barrels per day (b/d) of refining capacity, with significant facilities, like Motiva’s Port Arthur refinery and Marathon’s Galveston Bay refinery. The Louisiana Gulf Coast contributes an additional 3.3 million b/d, with key refineries like Marathon’s Garyville facility and ExxonMobil’s Baton Rouge refinery.
These regions collectively account for nearly 48% of U.S. refining capacity. While a hurricane may impact only one cluster of refineries, the potential for significant production capacity to be temporarily offline is high, mainly if major storms cause extensive damage. For instance, the Phillips 66 Alliance refinery in Belle Chasse, Louisiana,
was permanently closed following the extensive storm damage it sustained in 2021.
Historical Impact and Price Response
Historically, hurricanes like Ike in 2008 and Harvey in 2017 have caused temporary spikes in oil and gasoline prices, with substantial price increases observed. However, these effects are usually short-lived, and prices typically return to pre-storm levels relatively quickly as the industry recovers and supply disruptions are resolved.
The anticipation of hurricane impacts often leads to price volatility, but the overall effect on global oil prices may be more tolerable. The market’s ability to recover and the relatively high level of global oil supply generally mitigate the long-term impact of these disruptions.
Of course, as the 2024 hurricane season winds down, the U.S. oil and natural gas industry faces considerable risks from the larger end-of-season storms. While the historical impact on oil and natural gas markets has been significant, the industry’s resilience and the global supply network’s robustness generally help mitigate against any prolonged disruptions and price volatility.
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By: Felicity Bradstock
North America’s LNG export capacity is on track to more than double by 2028, according to the most recent estimates from the U.S. Energy Information Administration (EIA). The U.S., Canada, and Mexico all have ambitious LNG project pipelines, with governments across the region viewing natural gas as a transition fuel that will be needed to meet the mid-term energy demand both regionally and globally.
North America’s liquefied natural gas (LNG) export capacity is expected to more than double between 2024 and 2028, from 11.4 billion cubic feet per day (Bcf/d) in 2023 to 24.4 Bcf/d in 2028, according to the EIA. This is based on the existing project pipeline across the region. The EIA expects the LNG export capacity to grow by 0.8 Bcf/d in Mexico, 2.5 Bcf/d in Canada, and 9.7 Bcf/d in the U.S. from a total of 10 new projects that are currently under development across the three countries. Five of these projects are being developed in the U.S., including Plaquemines Phases I and II, Corpus Christi Stage III, Golden Pass, Rio Grande Phase I, and Port Arthur Phase I.
The oil major Shell recently predicted that the global demand for LNG will increase by more than 50% by 2040. Several countries around the globe have included natural gas in their green transition strategies, as it emits less carbon than other fossil fuels and is more reliable than the most popular renewable energy sources – solar and wind. As several countries shift away from a reliance on coal and oil, the global demand for natural gas is expected to rise for several decades, before eventually falling as global renewable energy and battery storage capacity increases.
LNG Plans in the U.S.
In the U.S., three LNG export projects that are currently under construction are expected to commence operations and increase to full production by the end of 2025. Earlier this year, the EIA forecast that U.S. natural gas exports would grow by 6% to 13.6 billion Bcf/d in 2024 compared with 2023. Net exports are expected to increase even further in 2025, by an additional 20% to 16.4 Bcf/d.
Meanwhile, LNG exports are expected to increase by 2% in 2024 and a further 18% in 2025. Existing LNG export facilities are expected to achieve a similar utilization rate in 2024-2025 as seen in 2023, while other facilities will come online.
U.S. gas exports to Mexico are expected to grow significantly in the coming years, as several pipelines in Mexico—Tula-Villa de Reyes, Tuxpan-Tula, and Cuxtal Phase II connecting to the Energía Mayakan pipeline on the Yucatán Peninsula become fully operational within the next two years. Meanwhile, U.S. gas pipeline exports to Canada are expected to remain around the same as previous years.
A New LNG Export Market in Canada
Canada is currently developing its first LNG export facility. LNG Canada, a joint venture company between Shell, Petronas, PetroChina, KOGAS, and Mitsubishi, aims to soon commence operations at its LNG export terminal in Kitimat, Canada’s British Columbia.
This month, the company stated that all safety checks had been completed and it hopes to activate a small flare pilot at the vapor flare tower, before commencing lowlevel flaring over several weeks, ahead of more visible flaring. LNG Canada aims to ship its first cargoes of made-in-B.C. LNG by mid2025 from the country’s first large-scale LNG export terminal.
Jason Klein, the CEO of LNG Canada, stated, “We expect to start commercial operations by the middle of 2025. The first LNG carrier to sail from our facility and down the Douglas Channel will supply made-in-B.C. LNG to our joint venture participants and their customers.” Klein added, “Direct benefits to the government over the life of the project alone will reach $23 billion, by the province’s estimate.”
Big LNG Plans in Mexico
In Mexico, President Andrés Manuel López Obrador (AMLO) has pursued an energy policy of nationalization, focusing on enhancing the country’s oil and gas power. The Mexican government announced the development of around seven private LNG export terminals at the beginning of the year, including the Mexico Pacific terminal in Chihuahua and the NFE terminal in Altamira.
New Fortress Energy’s Altamira plant in Tamaulipas is currently under construction and is expected to commence operations in the coming months. Sempra’s Energía Costa Azul plant at an existing LNG import terminal in Baja California is also under development. Most of these terminals are expected to support the increase in U.S. LNG production. They will process and ship gas sent via pipelines from U.S. gas fields in the Permian
The oil major Shell recently predicted that the global demand for LNG will increase by more than 50% by 2040.
Basin in Texas and New Mexico. Mexico has the advantage of having access to the Gulf, a major gateway to international markets.
As the U.S., Canada, and Mexico all increase their LNG export capacity, the North American region is expected to become a gas export powerhouse. This will support the anticipated increase in global demand for LNG in the coming decades. Although not everyone is so optimistic about this development, with climate activists concerned about the potential environmental impact of the ongoing dependence on fossil fuels, and others worried about a potential oversupply of LNG during a time of energy transition.
About the author: Felicity Bradstock is a freelance writer specializing in Energy and Industry. She has a Master’s in International Development from the University of Birmingham, UK, and is now based in Mexico City.
Why OPEC’s Decisions Impact the U.S.
By: Robert Rapier
Earlier this year, OPEC and its partners announced that it would begin to ease production cuts for members in the fall. However, with oil prices in steep decline, the group just announced a pause in these plans.
This decision eased concerns about potential oversupply as the fall season approaches, and helped reverse the decline in oil prices. OPEC+, which includes non-OPEC members such as Russia, had originally planned to boost output by 180,000 barrels per day in October.
This was part of a larger strategy to reintroduce 2.2 million barrels of oil into the market over the next year. Even small changes in supply, like 200,000 barrels per day, can significantly impact global oil prices, given the daily global demand of approximately 100 million barrels.
With the massive increase in oil production in the U.S., a common question arises: why should the U.S. care about OPEC’s decisions?
It’s true that the U.S. is the world’s top oil producer. According to the Statistical Review of World Energy, in 2023 the U.S. produced
15.6% of the world’s oil. But, Russia and Saudi Arabia, respectively the #2 and #3 producers globally, are both members of OPEC+. In addition, many of the Top 10 global producers are in OPEC. Add them all up, and they were responsible for just under 50% of global oil production in 2023.
Further, many members of OPEC consist of a national oil company with far greater market power than any U.S. producer. Saudi Aramco, for example, can move markets. ExxonMobil is but one of thousands of U.S. oil companies, and as large as they are, their decisions simply
don’t have a significant impact on the markets. Beyond oil production, OPEC commands a dominant share of the world’s proved crude oil reserves. OPEC countries possess 70% of the world’s proved reserves, and Russia has another 6%. The U.S. is far behind at 4% of the world’s proved reserves.
This is why OPEC often plays the long game in the crude oil markets. They know if they can outlast the shale oil boom, they might once again be in a commanding market position — as they were prior to the shale boom.
In conclusion, while the U.S. may lead in
oil production, OPEC’s influence on global oil markets remains significant due to its collective production power and vast reserves. The recent decision by OPEC+ to halt plans for increasing oil output underscores the group’s ability to shape supply and stabilize prices.
As long as OPEC controls nearly half of the world’s oil production and holds the majority of proven reserves, its decisions will continue to impact oil markets worldwide, including in the U.S. Understanding this dynamic is key to recognizing why OPEC’s actions still matter, even in an era of U.S. energy independence.
This was part of a larger strategy to reintroduce 2.2 million barrels of oil into the market over the next year. Even small changes in supply, like 200,000 barrels per day, can significantly impact global oil prices, given the daily global demand of approximately 100 million barrels.
About
the author: Robert Rapier is a chemical engineer in the energy industry and Editor-inChief of Shale Magazine. Robert has 25 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries and holds several patents related to his work. He has worked in the areas of oil refining, oil production, synthetic fuels, biomass to energy, and alcohol production. He is author of multiple newsletters for Investing Daily and of the book Power Plays. Robert has appeared on 60 Minutes, The History Channel, CNBC, Business News Network, CBC, and PBS. His energy-themed articles have appeared in numerous media outlets, including the Wall Street Journal, Washington Post, Christian Science Monitor, and The Economist.
Big Plans for Green Hydrogen in the U.S.
By: Felicity Bradstock
The green hydrogen industry is attracting global interest as governments look to decarbonize hard-to-abate industries using alternative clean fuels to power operations. Industries such as shipping, aviation, and heavy manufacturing are some of the worst offenders when it comes to carbon emissions, as it is extremely difficult to reduce reliance on fossil fuels and continue running day-to-day activities.
However, alternative fuels, such as green hydrogen, could provide the solution, as greater investment in the sector is spurring increased production of the fuel and driving down costs.
Green hydrogen is produced through the electrolysis of water using renewable energy sources. It offers great promise for the decarbon-
ization of hard-to-abate industries as it can be used as a fuel for a wide range of applications, unlike several other renewable energy sources that are limited to generating clean electricity. At present, the demand for green hydrogen stands at around 0.7% of the total global demand for hydrogen, showing there is space for the sector to grow significantly
in line with climate aims. The U.S. government is investing heavily in the development of the green hydrogen industry and a shift away from gray and blue hydrogen, which are produced using natural gas.
The U.S. Roadmap
In June 2023, the Biden administration approved the National Clean Hydrogen Strategy and Roadmap, aimed at creating green hydrogen production hubs and establishing the U.S. as a world leader in clean hydrogen. The roadmap assesses the potential for hydrogen production, transport, storage, and use across the country and provides a strategic framework
for the development of widescale production. It highlights the importance of collaboration between federal government agencies, industry, academia, national laboratories, state, local, and Tribal communities, environmental and justice communities, labor unions, and a multitude of stakeholder groups to accelerate sectoral development. The Hydrogen Interagency Task Force is tasked with advancing the implementation of the roadmap and encouraging government-wide participation in the industry.
The development of the green hydrogen industry aligns with the Biden administration’s aims of making the U.S. more competitive both economically and in clean energy. Sectoral growth will support job creation, as well as help decarbonize hard-to-abate industries.
Federal Funding for Green Hydrogen
In March this year, the Department of Energy (DoE) announced an investment of $750 million in 52 projects across 24 states aimed at decreasing the cost of producing clean hydrogen. Financing comes from the Bipartisan Infrastructure Law (BIL). One of the biggest barriers to the widescale deployment of green hydrogen is the cost involved with production. While gray and blue hydrogen costs around $12/ Megawatt Hour (MWh) to produce in the U.S. and $32/MWh in Europe, green hydrogen costs around $44/MWh to produce in the U.S. and $100/MWh in Europe.
Investing in improving production techniques is expected to help advance electrolysis and improve manufacturing and recycling capabilities for clean hydrogen systems and components. It will also support the creation of over 1,500 new jobs. The projects are expected to boost the U.S. manufacturing capacity to produce 14 GW of fuel cells per year, which would be enough to power 15% of the medium- and heavy-duty trucks sold each year, and 10 GW of electrolyzers per year, enough to produce an additional 1.3 million tons of clean hydrogen per year.
In August, the DoE announced it had plans to invest almost $62 million in 20 projects across 15 states to accelerate the research, development, demonstration, and deployment of next-generation clean hydrogen technologies. The projects are expected to advance hydrogen fueling infrastructure, develop and demonstrate hydrogen-powered container-handling equipment for use at ports, and improve processes essential to the efficient, timely, and equitable deployment of hydrogen technologies, according to the DoE. The projects aim to also enhance community
engagement with the industry to increase awareness about the potential for green hydrogen in the U.S.
Secretary of Energy Jennifer M. Granholm stated, “Under President Biden and Vice President Harris, America is leading the world in the development and deployment of clean hydrogen—a versatile fuel critical to reducing emissions from the most energy-intensive and polluting sectors of our economy.” Granholm added, “Today’s announcement builds on the historic clean hydrogen investments made possible by the Investing in America agenda and will help deliver new economic opportunities across the nation while also reinforcing America’s global leadership in clean energy technologies for generations to come.”
This initiative supports other DoE projects, including the Regional Clean Hydrogen Hubs Program (H2Hubs). In 2023, DoE earmarked $7 billion in funding from the BIL for the establishment of regional clean hydrogen hubs across the U.S. In October last year, the Office of Clean Energy Demonstrations completed a Merit Review process of applicants and has since provided funding for H2Hubs to begin work on Phase One of projects to solidify planning, development, and design activities around site selection, technology deployment, community benefits and engagement, labor partnerships, and workforce training.
The Biden administration has introduced a wide range of funding opportunities in the green hydrogen sector over the last few years. This is expected to support the rapid development of the sector across the country, as well as attract high levels of private investment in clean hydrogen. Based on the current project pipeline, the U.S. could become a major green hydrogen hub in the Americas, making it competitive at the international level and supporting a green transition.
About the author: Felicity Bradstock is a freelance writer specializing in Energy and Industry. She has a Master’s in International Development from the University of Birmingham, UK, and is now based in Mexico City.
Biden Announces $2B into Energy Infrastructure
By: Jess Henley
On August 6th, the Department of Energy (DOE) awarded $2.2 billion to eight energy projects aiming to upgrade and reinforce energy infrastructure across 18 U.S. states. The upgrades to the U.S. power grid are intended to enhance its resilience against extreme weather circumstances, such as hurricanes, elevated heat indexes, and disastrous events.
In addition to reconfiguring the power grid’s infrastructure, the DOE grants support increasing capacity for manufacturing, data centers, and renewable energy transmission. As the president pushes toward his climate goals, vital components, such as energy storage and production facilities, must be enriched to ensure a smooth energy transition.
Reimagining the Power Grid
Although the energy transition has had its fair share of road bumps, perhaps the largest obstacle has been outdated or incompatible infrastructure within the power grid. The projects receiving grant money from the DOE include developments over 18 U.S. states to help counteract some of the incompatibility and antiquated power systems’ shortcomings.
Projects include allocations for:
• Over 600 miles of new transmission
• 400 miles of reconductored wiring
• Additional structural enhancements
• Integrated technologies to increase grid stability
• Increased long-term energy storage capacity
• Solar energy plant expansion
• Increased microgrids
The awards are part of the Biden administration’s effort to advance grid enhancements and create a modern grid capable of managing future energy demands. To fund these projects, the Department of Energy allocated money from its Grid Resilience and Innovation Partnership (GRIP) program, as well as pledges from project sponsors totaling $7.8 billion in matching funds.
Once implemented, the funding will help project partners expand grid capacity by about 13 gigawatts (GW). That’s the equivalent of 1.3 billion LED light bulbs for reference.
A Record-Breaking Year
The president’s drive towards clean energy solutions has been further fueled by 2024’s record-breaking heat and extreme weather-related incidents. The National Oceanic and Atmospheric Administration (NOAA) notes that “warmer than usual oceans” this year will contribute to a potential 13 tropical cyclones impacting the U.S. during the 2024 hurricane season.
With energy consumption and production often being blamed for climate change contributions, updating power systems to make way for renewable energy is a high priority for the Biden administration.
And The Award Goes To…
The projects that have been awarded DOE funds span 18 states primarily located across the eastern and western coast of the U.S.
They include:
1. The North Plains Connector Interregional Innovation: This 3 GW, 525-kV project received $700 million to advance its efforts to connect the Western Electricity Coordinating Council, the Midcontinent Independent System Operator, and the Southeast Power Pool.
2. The California Harnessing Advanced Reliable Grid Enhancing Technologies for Transmission Project: This initiative received $600 million to reconductor transmission lines with updated technologies.
3. Power Up New England: This program was awarded $389 million in DOE funding to increase its 4.8 GW offshore wind and 85-MW long-duration energy storage systems.
4. The Reliable Electric Lines: Infrastructure Expansion Framework Project: This project received $249 million to increase grid stability across four states.
5. The Tribal Energy Resilience and Sovereignty Microgrid Project: The DOE awarded $87.6 million to this project, which aims to stabilize the grid for multiple tribes in Northern California.
6. The Data Center Flexibility as a Grid Enhancing Technology Project: This initiative to enhance grid technology in Virginia and South Carolina will receive $85 million from the DOE grants.
7. The North Carolina Innovative Transmission Rebuild project: This collaborative effort in eastern North Carolina
Although the energy transition has had its fair share of road bumps, perhaps the largest obstacle has been outdated or incompatible infrastructure within the power grid.
received a collective $57.1 million from the DOE to restructure and rebuild transmission lines, creating a more stable grid amidst high temperatures.
8. Clean Path New York: The New York Power Authority’s transmission project aims to deliver a 1.3 GW renewable energy supply from upstate New York to New York City. This initiative received $30 million from the DOE and $3.2 billion in sponsor investments.
More to Come
The Department of Energy’s $10.5 billion GRIP program promises more funding as 2024 progresses. Funneling much-needed funds into restabilizing the grid and accounting for renewable energy resources will undoubtedly change the game and the Biden administration’s climate change efforts.
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About the author:
Jess Henley began his career in client relations for a large manufacturer in Huntsville, Alabama. With several years of leadership under his belt, Jess made the leap to brand communications with Bizwrite, LLC. As a senior copywriter, Jess crafts compelling marketing and PR content with a particular emphasis on global energy markets and professional services.
POLICY
The Truth About Refilling the SPR
By: Robert Rapier
Irecently found myself embroiled in some social media drama related to a previous article I wrote. The article was “The Biden Administration Is Not Refilling The Strategic Petroleum Reserve,” published in May.
The article detailed that the Biden Administration wouldn’t replace more than a fraction of the oil removed from the SPR since he took office, and therefore previous claims that they would refill the reserve were no longer valid.
But the complaint wasn’t about the article itself. It was about the headline, which a prominent poster called a “despicable lie.” This was repeated across several social media platforms, and I found myself the target of quite a bit of vitriol as a result.
The poster indicated he had read the article, and he was aware that I said some of the oil that was removed was being put back. His issue was with the phrase “not refilling”, which he said implies that nothing is being put back.
Honestly, I didn’t see the headline as misleading, as I had in mind the standard definition of refill. Many people have a habit of reading a headline and coming to conclusions without reading the article, and that was the case with nearly all of the comments.
I consulted several dictionaries, and they all said “refill” means either to “fill again” or to “fill up again.” That is consistent with my use of the phrase “not refilling.” As I show below, the SPR is certainly not being filled up again, hence in my view “not refilling” is an accurate description of the situation.
Below I will detail exactly what is happening with the SPR, but at most the disagreement over the headline is a semantics issue. Some commenters were fine with the headline, others thought it was somewhat confusing, some thought it was deliberately misleading, and some felt like I should have said “not completely refilling.”
I always view qualifiers like “completely” when referring to something being empty or full as redundant, but I accept that some felt misled by the headline. In any case, whether the headline was confusing, it certainly wasn’t a “despicable lie.”
What’s Happening with the SPR?
When Joe Biden took office in January 2021, the SPR contained 638 million barrels of oil. By
mid-2023, that level had dropped to 347 million barrels, a decline of 291 million barrels, or 45.6%. This was the largest SPR decline under any president in history. Here is a graphical representation of what has happened with SPR levels in recent years.
There are multiple reasons for the decline. Several pieces of legislation, including the 2015 Bipartisan Budget Act, the 2018 Bipartisan Budget Act, and the Fixing America’s Surface Transportation (FAST) Act of 2015, mandated the sale of oil from the SPR to raise revenue for government programs and infrastructure projects.
These measures required selling oil from the SPR in subsequent years as part of balancing the budget and generating funding for various initiatives. As a result, SPR levels declined under Trump from 695 million barrels to 638 million barrels (-8.2%).
Important to note here that Trump claimed he inherited a depleted SPR and refilled it. I have fact-checked him on that claim. It’s also noteworthy that Trump’s 2018 budget proposal called for selling an additional 270 million barrels of oil from the SPR. On the other hand, it’s also true that Trump called for putting barrels back in during the price crash in 2020, but Congress failed to act on those wishes.
The mandated sales continued under Biden. In Biden’s first year, the level fell from 638 million barrels to 591 million barrels (-7.4%).
Then things got interesting, and confusing. When Russia invaded Ukraine, the U.S. cut off imports of Russian oil and finished products. President Biden announced a 180-millionbarrel withdrawal from the SPR to stabilize oil prices.
Conflicting DOE Statements
The Department of Energy (DOE) initially stated that the objective was to replenish the SPR by the end of 2024. But, in subsequent months, the DOE made some conflicting statements about replacing the oil that was removed.
In July 2023, in an interview with CNN, “Energy Secretary vows to refill emergency oil stockpile” DOE Secretary Jennifer Granholm said, “The first term’s over in a year and a half.
So, I’m not sure it’ll be fully replenished. But certainly, the plan is this term and the next term to be able to do that.”
That “fully replenished” comment led many media outlets to conclude that what was taken out would be eventually put back. But a DOE spokesperson later walked that statement back:
“An Energy Department spokesperson clarified to CNN that the secretary did not mean the goal is to completely refill the reserve back to pre-Biden levels. Instead, the aim is to recover the 180 million barrels of emergency sales – through a mix of canceled future sales and new purchases, the spokesperson said.”
This is important because they are explicitly saying they are not going to put back the 180 million barrels that were removed. In other words, although they are going to buy some oil, and cancel some future sales, there is no intent to refill the SPR. Hence, if they say they aren’t going to replace what was removed, the statement that they are “not refilling” is accurate, even though they are putting some of it back.
Then, in July 2024, Granholm made another statement that was widely misreported:
“As promised, we have secured the 180 million barrels back to the Strategic Petroleum Reserve released in response to Putin’s war in Ukraine – and we accomplished this while getting a good deal for taxpayers and maintaining the readiness of the world’s largest Strategic Petroleum Reserve.”
This led to some outlets claiming the SPR had been refilled, with one stating that it had been “refilled to pre-2022 levels.” Both statements are false. Here I think a graphical representation can help understand what is happening.
An Enlightening Contribution
During the discussion on social media, IT professional Matt Buford (@mattbuford on X), pulled data from multiple sources to create the following graphic. He used data primarily from the DOE to visualize the SPR levels over time.
I thought it was the most significant contribution to the discussion, and he gave me permission to share it.
But the long-term projection is a return to the pre-Biden Energy Informa-
This shows that the SPR was drawn down at an accelerated rate starting in 2022 (in response to Russia’s invasion). From the low point in 2023, the Biden Administration began to purchase some barrels back.
tion Administration (EIA) declining SPR forecast line — not to replace the 180 million barrels that were removed over the Russian invasion. This will be achieved primarily through the cancellation of future sales, with a smaller contribution of putting some barrels back into the SPR.
The person who called the headline a lie made the comment, “The implied intent was to refill by adding oil back and canceling sales mandated by Congress.” As you can see, that’s not true. Canceling sales doesn’t add barrels back, it just ensures that barrels that have already been taken out won’t create additional deficits as a result of future sales.
Back to the Question
So, back to the question, is the Biden Administration refilling the SPR? If you believe that putting back a fraction of what was removed — specifically the 180 million barrels over Ukraine — is refilling, then yes.
But do a little test. The next time your spouse asks you to fill their empty tank, take the car to the gas station, call them and tell them you are refilling it, and then come back with a quarter tank. Explain that you put some back, therefore you were refilling it. I doubt they will agree, and I hope that reasonable people can see that this is a valid perspective.
I would still maintain that by the definition of refilling, then no, they aren’t refilling it. Strictly meaning, they will not replace the 180 million barrels they removed over Ukraine. But, yes, they are
putting back some of what was removed.
Some suggested my issue was the slow speed at which the oil is being replaced. That’s not it. It comes down to intent, and in this case the administration has explicitly stated they will not replace all of the 180 million barrels — after they initially said they would.
I can appreciate that people who only read headlines may have come away with a wrong impression. It is never my intent to mislead. The intent was to correct a wide misconception in the media that the barrels that were removed from the SPR will be fully replaced — or have already been replaced to pre-2022 levels.
About the author: Robert Rapier is a chemical engineer in the energy industry and Editor-inChief of Shale Magazine. Robert has 25 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries and holds several patents related to his work. He has worked in the areas of oil refining, oil production, synthetic fuels, biomass to energy, and alcohol production. He is author of multiple newsletters for Investing Daily and of the book Power Plays. Robert has appeared on 60 Minutes, The History Channel, CNBC, Business News Network, CBC, and PBS. His energy-themed articles have appeared in numerous media outlets, including the Wall Street Journal, Washington Post, Christian Science Monitor, and The Economist.
SPR Deviations and Projections. Graphic by Matt Buford
Carbon Offset Schemes Are Failing
By: Felicity Bradstock
MANY MAJOR CORPORATIONS, from airlines and oil companies to fashion labels have invested in carbon offset schemes to support their decarbonization aims, including Delta, Gucci, and ExxonMobil. Carbon offset initiatives offer an alternative to direct decarbonization practices and are very popular in hard-to-abate industries, where it is difficult to cut emissions at the source. However, recent analyses of some of the most widely used schemes reveal that they are not as effective as companies had hoped. While some underperform, others fail to remove emissions from the atmosphere completely, or even cause harm.
Carbon offset schemes allow companies to invest in environmental projects aimed at reducing greenhouse gas emissions to balance out their carbon footprints. Many of these projects are located in developing countries. Some of the most popular projects include reforestation, regenerative agriculture, renewable energy projects, waste manage-
ment, and carbon capture and storage (CCS) technologies. While some companies invest in the schemes to offset all their emissions, others pass the baton to the consumer. For example, many airlines now offer passengers the option of paying to make their flights carbon-neutral by contributing to an offset scheme.
Earlier this year, the non-profit and transnational corporate watchdog Corporate Accountability published a report that assessed popular carbon offset schemes measured against its classification system. It found that several major companies including Delta, Gucci, Volkswagen, ExxonMobil, Disney, easyJet, and Nestlé, had bought millions of carbon credits for carbon offset schemes that were “likely junk” or worthless in terms of offsetting their greenhouse gas emissions. Some of these companies have since cut ties with these schemes, but many continue to invest heavily in carbon offset practices.
The report showed that for 33 of the top 50 corporate buyers, over a third of their whole offset portfolio was “likely junk”, which means the carbon emissions reductions were overstated. The “likely junk” ranking is given to schemes where emissions cuts would have happened anyway, or emissions were shifted elsewhere rather than removed. The top 50 offset schemes assessed included forestry schemes, hydroelectric dams, solar and wind farms, waste disposal, and greener household appliances projects across 20 (mainly) developing countries.
Rachel Rose Jackson, the director of research at Corporate Accountability, stated,
“These findings add to the mounting evidence that peels back the greenwashed facade of the voluntary carbon market and lays bare the ways it dangerously distracts from the real, lasting action the world’s largest corporations and polluters need to be taking.”
Two of the biggest offenders are the fossil fuel and transport industries. The fossil fuel industry is the biggest investor in the world’s top 50 carbon offset initiatives and at least 43% of the 81 million carbon credits bought by companies in this sector contributed to projects that are “probably junk”, according to the report. For the transport industry, more than 42% of credits purchased by airlines and 38% of those bought by automakers were found to be likely worthless at reducing emissions.
This recent analysis is not the only assessment to have found major flaws in many of the top carbon offset schemes. Many environmental groups have long criticized carbon offsetting for ignoring the bigger picture by failing to cut emissions at the source. This has spurred the widespread investigation of the efficacy of these schemes, to understand where companies are succeeding in offsetting their emissions or if these schemes are simply another case of greenwashing. Based on the evidence, climate experts say that the carbon trading market has failed to achieve its environmental aims, as well as delayed the transition away from fossil fuels. In some cases, it has also caused harm to forests and communities in low-income countries. Environmental organizations generally agree that it is time to stop pumping billions of dollars into unproven “climate solutions.”
In May this year, following several reports of these failings, the Biden administration introduced new principles aimed at strengthening the integrity of the carbon trading market. The Biden-Harris administration released a Joint Statement of Policy and new Principles for Responsible Participation in Voluntary Carbon Markets (VCMs) that codify the U.S. government’s approach to advancing high-integrity VCMs. The statement highlighted the need to take additional action to rectify challenges, restore confidence to the market, and ensure that VCMs live up to their potential to drive climate ambition and deliver on their decarbonization promise. This includes establishing robust standards for carbon credit supply and demand; improving market functioning; ensuring fair and equitable treatment of all participants and advancing environmental justice, including fair distribution of revenue; and instilling market confidence.
Carbon
offset schemes allow companies to invest in environmental projects aimed at reducing greenhouse gas emissions to balance out their carbon footprints.
Despite this positive move from the U.S. government, a multitude of investigations suggest that a wide range of major companies continue to invest in carbon offset schemes that continually underperform or are “likely junk.” This move to establish rigorous VCM standards is just the start, as carbon offsetting is a global, not a local, issue and most governments have yet to tackle the matter. Climate experts, consumers, and many industry players have lost trust in the carbon offset sector, as an increasing number of companies worldwide look for ways to cut emissions at the source rather than continue investing in schemes that likely do not work.
About the author: Felicity Bradstock is a freelance writer specializing in Energy and Industry. She has a Master’s in International Development from the University of Birmingham, UK, and is now based in Mexico City.
California is Destroying Its Energy Sector
By: Robert Rapier
On October 16, 2024, the re-
finer Phillips 66 announced that it will cease operations at its Los Angeles-area refinery in the fourth quarter of 2025. This announcement came a few days after California Governor Gavin Newsom signed a new law placing additional regulations on refineries.
The closure will affect approximately 600 employees and 300 contractors that currently work at the Los Angeles-area refinery. Politico reported that this closure would also impact 8% of the state’s already tight gasoline production.
Although Phillips 66 spokesperson Al Ortiz denied in an email to Politico that the closure was a response to Newsom’s signing the new law, California’s treatment of its oil industry has undoubtedly been a factor.
The news follows an announcement in August 2024 that Chevron, the second-largest U.S. oil company, will relocate from its California headquarters to Texas. The company, with roots in California dating back to 1879, will transition its headquarters to Houston over the next five years.
Chevron’s move comes as a response to California’s stringent regulations and aggressive climate policies. Chevron’s CEO, Mike Wirth, expressed concerns about the state’s business environment in an interview with The Wall Street Journal
Wirth argued that California’s policies are detrimental to con-
sumers, discourage investment, and ultimately harm the state’s economy. The relocation of such a prominent company highlights the growing tension between traditional energy firms and states pursuing ambitious climate goals.
California’s Environmental Regulations
Over the years, California has adopted the nation’s most stringent fuel standards. The state requires the production and sale of a unique blend of gasoline, known as California Reformulated Gasoline (CaRFG), which has stricter environmental standards than the federal blends used in most other states. This special formulation reduces emissions of pollutants like volatile organic compounds (VOCs) and sulfur, but it is more expensive to refine, adding to the overall cost of gasoline.
California’s gasoline also contains lower sulfur levels than the national average. Reducing sulfur is costly for refineries because it requires additional processing steps, leading to higher production costs that are passed on to consumers at the pump.
California’s Low Carbon Fuel Standard (LCFS) requires gasoline producers to reduce the carbon intensity of the fuels they sell. This can involve blending more expensive biofuels, investing in cleaner production technologies, or purchasing credits from other companies to meet the carbon intensity reduction targets. The added costs of complying with the LCFS are reflected in the price of gasoline.
Under California’s Cap-andTrade program, refineries and other large greenhouse gas emitters must buy carbon credits to offset their emissions. These credits increase operational costs for refineries, which in turn raise the price of gasoline. Since this program is unique to California, it adds a cost that refineries in other states don’t have to bear.
Unintended Consequences
California energy producers must also comply with additional regulations, which are primarily designed to lower pollution. However, there are costs associated with these strict regulations, and there have been unintended consequences.
Because of its unique gasoline blend, the state cannot easily im-
port gasoline from other regions in the event of supply disruptions. If a refinery goes offline due to maintenance or an accident, it is difficult to quickly source replacement fuel from outside the state because other regions don’t produce the same gasoline blends. This limited supply flexibility can cause price spikes when there are disruptions, leading to volatility in gasoline prices.
Those price spikes, in turn, can lead to higher profits for some refiners in the state. If one refinery goes offline for unplanned maintenance, the supply of fuel is suddenly reduced. That will either result in a price spike or shortages. Therefore, some refiners may see profits surge as fuel prices spike.
Although these price spikes have been self-inflicted, California has tried to remedy the situation by suing oil companies and passing additional laws that have tried to prevent these price spikes. At the same time, California has vilified its oil industry for years. This creates a hostile environment for these companies.
California’s Future
Ultimately, California can pass whatever laws it wants with respect to its oil industry, but these companies can also respond. That’s what Chevron, and now Phillips 66, have done.
California’s aggressive environmental policies and stringent regulations on the oil industry have created a complex and challenging landscape for energy companies operating in the state. While these measures aim to reduce emissions and combat climate change, they have also led to unintended consequences such as higher fuel prices, supply vulnerabilities, and a strained relationship with the oil industry.
The recent decisions by major players like Chevron and Phillips 66 to relocate or cease operations in California highlight the delicate balance between environmental goals and economic realities. As the state continues to pursue its ambitious climate agenda, it may need to reassess its approach to ensure a stable energy supply and mitigate the economic impact on consumers.
The ongoing exodus of oil companies from California serves as a cautionary tale for other states considering similar regulatory paths, underscoring the need for a carefully calibrated approach that addresses both environmental concerns and economic stability.
These moves potentially further restrict California’s fuel supply, and will likely lead to even higher prices for California consumers.
About the author: Robert Rapier is a chemical engineer in the energy industry and Editor-in-Chief of Shale Magazine. Robert has 25 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries and holds several patents related to his work. He has worked in the areas of oil refining, oil production, synthetic fuels, biomass to energy, and alcohol production. He is author of multiple newsletters for Investing Daily and of the book Power Plays. Robert has appeared on 60 Minutes, The History Channel, CNBC, Business News Network, CBC, and PBS. His energy-themed articles have appeared in numerous media outlets, including the Wall Street Journal, Washington Post, Christian Science Monitor, and The Economist.
Honeywell HALO Operator Advisor Revolutionizes Fort Hills Operations
By: Kym Bolado
Recently, I had the opportunity to attend a detailed discussion on Honeywell’s Experion® Highly Augmented Lookahead Operations (HALO) Operator Advisor and its implementation at the Fort Hills site. This innovative technology is making significant strides in industrial operations, enhancing efficiency and sustainability.
What is Honeywell’s HALO Operator Advisor?
Honeywell’s HALO Operator Advisor is a cutting-edge software platform designed to optimize industrial operations through realtime data analytics and machine learning. By analyzing historical process and event data, HALO delivers actionable insights, helping plant operators make informed decisions that improve performance, reduce costs, and enhance safety.
The Impact at Fort Hills
At Fort Hills, HALO’s implementation has already shown impressive results. By monitoring key performance indicators (KPIs) and offering targeted training, the software has reduced operational costs and improved throughput. This demonstrates how technology is transforming industries, making operations more efficient and resilient.
Key Benefits of HALO Operator Advisor
• Increased Efficiency: Real-time insights help operators make quicker, more informed decisions, reducing downtime and boosting productivity.
• Cost Savings: HALO identifies inefficiencies and suggests corrective actions, leading to substantial cost reductions.
• Enhanced Safety: With predictive analytics, HALO helps anticipate issues before they escalate, improving overall safety.
• Sustainability: Optimized operations support global sustainability goals by reducing energy waste.
Insights from Suncor’s General Session Clement Cheng, during the Suncor General Session, shared the success of HALO Operator Advisor at Fort Hills. His presentation highlighted how advanced technology drives operational excellence and sustainability in the energy sector, reinforcing the importance of innovative solutions like HALO in meeting future energy demands.
Why This Matters for the Energy Sector
As technological advancements continue to shape the future of energy, Honeywell’s HALO Operator Advisor stands out as a critical tool. It enhances operational efficiency while aligning with global sustainability goals, making it an essential asset for industrial operations moving forward.
Honeywell’s HALO Operator Advisor is a cuttingedge software platform designed to optimize industrial operations through real-time data analytics and machine learning.
About the author: As the publisher and CEO of SHALE Magazine and the host of The Energy Mixx Radio Show, Kym Bolado has conducted more than 650 interviews with energy experts. With 25 years of entrepreneurial experience, Kym Bolado started SHALE Magazine in 2013 as a result of her interest in the economic development taking place in Texas. The magazine thrived early on and has seen exponential growth since. Along with the growth of the magazine, Bolado took on the new challenge of becoming a radio talk show host on In the Oil Patch. In the Oil Patch was started in 2015 on San Antonioʼs KTSA 550 AM. Within six months the show was in syndication. The show now airs on iHeartʼs KTRH 740 AM in Houston, the number one talk radio station in the U.S. It has since rebranded to In The Oil Patch Radio Show. The radio show also airs in major metropolitan areas in Texas including Dallas, Midland, San Antonio, Austin, and Corpus Christi, as well as parts of New Mexico, Louisiana, and Mexico.
Small Businesses are Driving the Clean Energy and Tech Revolution
By: Felicity Bradstock
As the U.S. government accelerates the green transition, providing huge injections of funding into a diverse array of renewable energy sources and clean technologies, it is being supported by thousands of startups bringing entrepreneurial innovation to the sector. Small businesses are driving the transition away from fossil fuels, supported by massive federal financing opportunities from the Inflation Reduction Act (IRA).
Government Funding for Small Businesses
Unlike oil, gas, and coal, which have long been dominated by large energy companies, the green transition has provided space for startups, small businesses, and academic institutions to get involved. In the U.S., the Biden administration has strongly encouraged innovation from a wide range of sources through the provision of grants and subsidies in recent years.
Creating economic opportunities for all American communities, entrepreneurs, and workers is central to Biden’s Investing in America agenda, supported by funding from the IRA and Bipartisan Infrastructure Law (BIL).
In May, the government held a Climate Capital Convening at the White House with investors, climate technology start-ups, small business owners, and entrepreneurs to discuss funding opportunities. This was followed by the publication of a new Climate Capital Guidebook to provide a comprehensive overview of the capital programs available to climate-related start-ups, small- and medium-sized businesses, and their investors. Smaller firms often find it more difficult to access funding opportunities than big, experienced companies in the energy field. The guidebook outlines hundreds of billions of dollars in grants, loans, loan guarantees, and other funding tools.
Funding Programs
Small and medium-sized enterprises (SMEs) represent around 90% of businesses and over 50% of employment worldwide. The White House has repeatedly emphasized that small businesses will play
Unlike oil, gas, and coal, which have long been dominated by large energy companies, the green transition has provided space for startups, small businesses, and academic institutions to get involved.
a critical role in achieving net-zero carbon emissions by 2050 and should have access to capital to develop new clean energy and climate projects. Therefore, the Biden administration has launched several financing mechanisms to ensure that startups and SMEs have greater access to funding to support a green transition.
The Small Business Administration’s 504 Loan Program offers long-term, fixed-rate loans of up to $5.5 million from Small Business Administration-approved lenders for energy and manufacturing projects. Funding was previously limited to three loans, totalling a maximum of $16.5 million, but this cap was lifted for companies pursuing “energy public policy projects.”
This September, the Department of Energy (DoE) announced $142 million in grants to small businesses across 34 states. The funding will go to 123 projects that address a range of energy transition issues, such as decarbonization, cybersecurity and grid reliability, fusion energy, and nuclear non-proliferation.
Private Funding for Startups
Supported by a major rise in public and private funding, thousands of startups and small businesses are driving innovation in the green transition. In the private sector, Microsoft’s Climate Innovation Fund is one force driving startup growth, offering $1 billion in investment for the development and deployment of climate innovations. Meanwhile, ENGIE New Ventures, ENGIE’s corporate venture branch, has a $280 million fund for the scaling of technologies and business models of startups. In total, global venture capital funding for clean energy startups increased from $1.9 billion in 2019 to $12.3 billion in 2022 and is continuing to grow.
Cleantech Startup Hubs
Funding for startups has increased rapidly in recent years, which has helped spur the emergence of green energy and clean tech startup hubs in the U.S. Houston has gained a reputation as the Silicon Valley of Texas in recent years, known for its cleantech innovation. The city, which was previously dominated by the oil and gas industry, has diversified its energy mix and has become a major hub for startups looking to break into renewables and cleantech.
In 2022, the growth rate for tech employment in the region reached 3.5%, compared to the national average of 3.2%. Houston attracted a reported $6 billion in venture capital funding between 2017 and 2022 and is home to over 80 startup development organizations. Houston’s 21 business research centers that focus on the energy transition are supporting the growth of the clean tech sector.
The University of Houston was recently awarded $125 million in DoE funding for the establishment of two Energy Innovation Hubs to conduct research to address the nation’s most pressing battery challenges and encourage next-generation technological developments. The strong investment environment in the Texan city is attracting more startups to the region and encouraging greater innovation to support the green transition. While Houston has become the most well-known city in the U.S. for its cleantech and renewable energy startups, more of these hubs are expected to emerge across the country in line with greater funding opportunities and public and federal support for the green transition.
About the author: Felicity Bradstock is a freelance writer specializing in Energy and Industry. She has a Master’s in International Development from the University of Birmingham, UK, and is now based in Mexico City.
Why Service Companies Should Partner with a PEO: A Strategic Move for Growth
By: Kym Bolado
In today’s fast-paced business environment, service companies face numerous challenges, from managing employee relations to ensuring compliance with ever-changing regulations. One strategic solution that can help service companies navigate these complexities is partnering with a Professional Employer Organization (PEO). This blog, sponsored by Insperity, explores the benefits of using a PEO and why it can be a game-changer for service companies.
What is a PEO?
A Professional Employer Organization (PEO) is a firm that provides comprehensive HR solutions to businesses through a co-employment model. This means that the PEO becomes a co-employer of your employees, handling various HR functions such as payroll processing, benefits administration, compliance management, and more. By partnering with a PEO, service companies can focus on their core activities while the PEO manages the administrative and regulatory aspects of employment.
Benefits of Using a PEO
1. Streamlined HR Processes
One of the primary advantages of partnering with a PEO is the significant reduction in administrative burden. Service companies often struggle with time-consuming HR tasks that divert attention from their core business activities. A PEO like Insperity can take over these responsibilities, providing access to advanced HR technology and expertise. This allows business owners and managers to focus on delivering exceptional service to their clients.
2. Enhanced Employee Benefits
Attracting and retaining top talent is crucial for service companies. However, offering competitive benefits can be challenging, especially for small and mid-sized businesses. PEOs
A Professional Employer Organization (PEO) is a firm that provides comprehensive HR solutions to businesses through a co-employment model.
have the purchasing power to provide comprehensive benefits packages at more affordable rates. This includes health insurance, retirement plans, and other perks that can make a significant difference in employee satisfaction and retention.
3. Compliance and Risk Management
Navigating the complex landscape of employment laws and regulations can be daunting. Non-compliance can lead to costly fines and legal issues. PEOs have the expertise to ensure that your company remains compliant with federal and state employment laws. They also help manage risks associated with workers’ compensation claims and other liabilities, providing peace of mind to business owners.
4. Improved Talent Management
Recruiting, onboarding, and training employees are critical functions that can impact the success of a service company. PEOs offer support in these areas, helping businesses attract the right talent and ensure they are well-integrated into the company. Additionally, PEOs provide tools for performance management and employee development, fostering a productive and engaged workforce.
Potential Risks of Not Using a PEO Failing to address HR issues properly can have serious consequences for service companies. Here are some potential pitfalls:
• HR Compliance Issues: Non-compliance with employment laws can result in hefty fines and legal challenges.
• Administrative Overload: Time-consuming HR tasks can divert focus from strategic business activities.
• Limited Access to Benefits: Without competitive benefits, it can be challenging to attract and retain employees.
• Increased Liability: Higher risk of workers’ compensation claims and other liabilities.
Spotlight on Insperity
Insperity, a leading PEO, has been providing HR and business performance solutions for over 30 years. Headquartered in Kingwood, Texas, Insperity offers a wide range of services tailored to meet the needs of service companies. From payroll administration to compliance management, Insperity helps businesses streamline their HR processes and focus on growth.
Conclusion
Partnering with a PEO like Insperity can provide service companies with the strategic advantage they need to thrive in a competitive market. By outsourcing HR functions, businesses can reduce administrative burdens, enhance employee benefits, ensure compliance, and improve talent management. In today’s dynamic business environment, leveraging the expertise of a PEO is not just a smart move—it’s essential for sustainable growth.
About the author: As the publisher and CEO of SHALE Magazine and the host of The Energy Mixx Radio Show, Kym Bolado has conducted more than 650 interviews with energy experts. With 25 years of entrepreneurial experience, Kym Bolado started SHALE Magazine in 2013 as a result of her interest in the economic development taking place in Texas. The magazine thrived early on and has seen exponential growth since. Along with the growth of the magazine, Bolado took on the new challenge of becoming a radio talk show host on In the Oil Patch. In the Oil Patch was started in 2015 on San Antonioʼs KTSA 550 AM. Within six months the show was in syndication. The show now airs on iHeartʼs KTRH 740 AM in Houston, the number one talk radio station in the U.S. It has since rebranded to In The Oil Patch Radio Show. The radio show also airs in major metropolitan areas in Texas including Dallas, Midland, San Antonio, Austin, and Corpus Christi, as well as parts of New Mexico, Louisiana, and Mexico.
Bullock Museum Announces Return of Texas Focus Film Series with a 50th Anniversary Screening of The Texas Chain Saw Massacre
Event celebrates the landmark Texas film with a sold-out special screening and live Q&A
OCTOBER 15, 2024 (AUSTIN, TX) — The Bullock Museum’s Texas Focus Film Series will return on October 18 at 6 p.m. with a sold-out screening of The Texas Chain Saw Massacre. Following the screening, the film’s co-writer, Kim Henkel, composer, Wayne Bell, and star, actress Teri McMinn, will join for a Q&A.
“Texas Focus celebrates the vibrant legacy of cinema in our state, and what better way to kick off the series’ return than with the 50th anniversary of The Texas Chain Saw Massacre,” said Jessica Hanshaw, Public Programs Manager at the Bullock Museum. “This groundbreaking film put Texas on the horror map and continues to captivate audiences to this day. We’re thrilled to bring it back to the big screen for a new generation of fans and long-time devotees alike.”
The Bullock Museum first introduced the Texas Focus Film Series in 2015 to highlight stories by, for and about Texans. Each event in the celebrated series included a film screening followed by a Q&A session with scholars, filmmakers, and actors, examining the film’s relevance to the modern world. When the Museum briefly closed in 2020 due to the COVID-19 pandemic, Texas Focus continued as a digital series where guests could stream films at home and join virtual discussions. Now the series is back in the Texas Spirit Theater to continue exploring the richness and diversity of Texas-related cinema. The Bullock plans to screen four films per year in partnership with the Texas Film Commission.
The 2024-2025 series will continue with A Way of Life: East Texas Cowboys screening and panel discussion in January. This observational documentary follows a group of daywork cowboys and their dogs, a family of horse trainers, and the controlled chaos of an auction house located in the heart of Texas cow-calf country. Following the film, audience members are invited to stay for a discussion and Q&A with filmmaker Curtis Craven and cowboys Carroll Langham and Klay Currie.
In March, the Texas Focus series will bring back For the Love of Meat in a special 10th anniversary screening and event. The documentary film contains interviews and insights with some of Texas' best-known pitmasters, including Aaron Franklin of Franklin Barbecue and Tootsie Tomanetz of Snow’s BBQ. In the film, these pitmasters explain their philosophies and how they make some of the world's best barbecue.
For more details on future Texas Focus films, visit TheStoryofTexas.com/visit/see-films/texas-focus.
Promotional Support by Texas Film Commission.
The Bullock Museum, a division of the Texas State Preservation Board, is funded by Museum members, donors, and patrons, the Texas State History Museum Foundation, and the State of Texas.
ABOUT THE BULLOCK MUSEUM
The Bullock Texas State History Museum, a division of the State Preservation Board and an accredited institution of the American Alliance of Museums, illuminates and celebrates Texas history, people, and culture. With dynamic, award-winning exhibitions, educational programming for all ages, and an IMAX® theater with one of the largest screens in Texas, the Museum collaborates with more than 700 museums, libraries, archives and individuals across the world to bring the Story of Texas to life.
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