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
29 June 2015, The Guardian,Australian climate policy paralysis has to end, business roundtable says: Business and industry alliance sets out climate ‘principles’, including that climate policy should be ‘capable of achieving deep reductions’ in emissions. Groups included in the ‘climate roundtable’ include the Business Council of Australia and Australian Industry Group, along with environmental groups and unions. An unprecedented alliance of business, welfare and environmental groups and trade unions is demanding an end to Australia’s decade of political paralysis and division on climate policy, insisting the Abbott government make credible emission reduction commitments and the major parties agree on how the pledges should be implemented.In an attempt to reset the bitter political debate on climate policy, the powerful lineup of interest groups has reached a historic agreement on “principles” that should guide Australia’s climate policy. Read More here. Read principles here