oil industry http://michiganradio.org en New state law lowers taxes for companies trying to get more oil out of existing wells http://michiganradio.org/post/new-state-law-lowers-taxes-companies-trying-get-more-oil-out-existing-wells <p>A new state law encourages oil companies to go back to oil wells that are considered tapped out and extract more oil.</p><p>So-called “enhanced recovery projects” are relatively new in Michigan. In fact, there’s only one company that’s using the technique.</p><p>The process recycles carbon dioxide that would otherwise be vented into the atmosphere and pumps it down into existing oil wells. The pressure forces more oil to the surface. Proponents say the process makes better use of existing oil wells because the oil couldn’t be recovered without the technique.</p> Thu, 03 Apr 2014 11:58:09 +0000 Lindsey Smith 17085 at http://michiganradio.org New state law lowers taxes for companies trying to get more oil out of existing wells Michigan's natural gas prices may rise, depending on decisions to allow more overseas exports http://michiganradio.org/post/michigans-natural-gas-prices-may-rise-depending-decisions-allow-more-overseas-exports <p>For years, Michigan businesses and consumers have enjoyed extremely low natural gas prices.</p><p>But that may be changing. And it’s a case of basic economics.&nbsp;</p><p>Natural gas is selling for about $4 per thousand cubic feet in the U.S.</p><p>In Europe, the price is closer to $10 per thousand cubic feet. In Japan, the price is hovering over $15.</p><p>So it should be no surprise that the energy industry is pushing hard for more exports of natural gas.&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> Sun, 16 Jun 2013 18:58:00 +0000 Steve Carmody 13068 at http://michiganradio.org Michigan's natural gas prices may rise, depending on decisions to allow more overseas exports Will Michigan motorists feel Hurricane Irene's wrath at the gas pumps? http://michiganradio.org/post/will-michigan-motorists-feel-hurricane-irenes-wrath-gas-pumps <p><a href="http://www.nhc.noaa.gov/index.shtml">Hurricane Irene</a> should not have an impact on Michigan gas prices, according to an industry analyst.&nbsp; The hurricane is expected to make landfall along the North Carolina coast tomorrow, before bearing down on the Jersey shore, New York and New England Sunday.&nbsp;</p> Fri, 26 Aug 2011 16:52:26 +0000 Steve Carmody 3930 at http://michiganradio.org Will Michigan motorists feel Hurricane Irene's wrath at the gas pumps?