7 July 2015, Bloomberg Business, Refracking Is the New Fracking: The technique itself is nothing new. Oil crews across the world have been schooled on its simple principles for generations: Identify aging, low-output wells and hit them with a blast of sand and water to bolster the flow of crude. The idea originated somewhere in the plains of the American Midwest, back in the 1950s. But as today’s engineers start applying the procedure to the horizontal wells that went up during the fracking boom that swept across U.S. shale fields over the past decade, something more powerful, more financially rewarding is happening. The short life span of these wells, long thought to be perhaps the single biggest weakness of the shale industry, is being stretched out. Early evidence of the effects of restimulation suggests that the fields could actually contain enough reserves to last about 50 years, according to a calculation based on Wood Mackenzie Ltd and ITG Investment Research data. Read More here
1 July 2015, The Guardian, Climate change a security risk second only to terrorism, says defence report. Defence white paper consultation report flags consequences of environmental pressures as a significant security risk for Australia. The Abbott government’s energy white paper made headlines for its curiousreluctance to mention climate change – but the looming defence white paper may prove to be a different story. A report on community consultations associated with the defence white paper flags the consequences of climate change, extreme weather events and environmental pressures as a significant security risk for Australia – second only to the risks posed by terrorism. “Many people suggested [climate change] would lead to an increased need for humanitarian and disaster relief activities, including by armed forces,” the report released on Wednesday said. “Some people also noted that climate change and resource stresses, such as food and water shortages, could drive unregulated cross-border movements of people.” The consultations also unearthed “considerable interest in evolving the ADF [Australian defence force] to reduce its greenhouse gas emissions and manage its environmental impact.” Read More here