Quantum Energy Efforts Featured in EnergyWire
Regulators Urged to Consider Crude Stabilization in Federal Rule
Making Process
TEMPE, AZ--(Marketwired - Jun 13, 2014) - Quantum Energy, Inc.
(PINKSHEETS: QEGY), is pleased to reprint with full permission the
following article from EnergyWire describing Quantum's efforts in
Washington, D.C. urging that crude stabilization be considered in
the Bakken rail transportation rule making process:
http://www.eenews.net/energywire/2014/06/10/stories/1060001007
Oil groups line up at White House over tank car standards
Blake Sobczak E&E News Tuesday, June 10, 2014
Quantum Energy Inc. claims to have no position on proposed oil
tank car standards -- yet the oil field developer stopped by a
White House office last week to discuss them anyway.
Russell Smith, Quantum's executive vice president of public
affairs, said he met with the small but influential Office of
Information and Regulatory Affairs to make sure regulators knew
about the company's plans for "stabilizing" hot-to-handle crude
from North Dakota's Bakken Shale play.
Bakken crude has earned a volatile reputation after a string of
oil train derailments and fires. A 72-car oil train jumped the
tracks and exploded in downtown Lac-Mégantic, Quebec, last July,
killing 47 people and prompting regulators to warn that Bakken
crude may be less stable than other types.
The deadly crash also set the stage for the "comprehensive"
oil-by-rail rulemaking package now weaving its way through OIRA,
part of the Office of Management and Budget. White House records
show several oil companies, refiners and industry groups have met
with administration officials and transportation regulators to
shape new standards for the type of DOT-111 tank car long faulted
for its puncture-prone design.
"We're not really taking a position on the tank car rule," said
Smith, who attended June 2's meeting with lobbyists from FTI
Consulting, OIRA representatives and Department of Transportation
regulators. "All we're saying is, in making the rule, please
consider what's going in the car in addition to the car
itself."
Smith's company hopes to set up "21st-century energy centers" in
North Dakota's Williston Basin capable of stripping the most
volatile natural gas liquids out of Bakken crude before the
commodity is loaded onto rail cars.
Oil producers have contested claims that Bakken crude is more
volatile than other types, and the North Dakota Petroleum Council
has conducted tests that it says show the crude is safe
(EnergyWire, May 21).
Last month the oil industry's top lobbying group, the American
Petroleum Institute, met with OIRA to air its views on tank car
rules that could have a big impact in the Bakken, where well over
600,000 barrels of oil leaves the state daily by rail (EnergyWire,
May 28). API said in a later statement that it is "critical" that
the proposed rule should "achieve measurable safety improvements by
using science and data to address accident prevention, mitigation
and response."
Since then, several refiners, chemical companies and trade
groups, including the American Chemistry Council and the American
Fuel & Petrochemical Manufacturers (AFPM), have also met with
OIRA about the tank car rules.
AFPM has conducted its own study of Bakken crude volatility and
concluded even older-model DOT-111 rail tank cars can safely handle
the oil, although the refining group detected Reid vapor pressure
levels as high as 15.4 pounds per square inch (absolute) in some
samples.
Reid vapor pressure offers a good indication of flammable gas
content in a liquid such as crude. While 15.4 psi is well within
even the oldest DOT-111 tank cars' safe pressure capacity, AFPM
said in its survey of Bakken crude characteristics that vapor
pressures of 10 psi or lower "are in the best interests of AFPM
members."
Smith said Quantum intends to strip Bakken crude down to a Reid
vapor pressure of 6 psi or lower and sell the separated gas
liquids. The Tempe, Ariz.-based holding company also hopes to set
up five micro-refineries modeled after a new joint project run by
MDU Resources Group Inc. and Calumet Specialty Products Partners
(EnergyWire, April 11, 2013). Once completed, that diesel facility
will mark the first new refinery built in the United States in
nearly 40 years.
"Since we're stabilizing [Bakken oil] upstream of our
refineries, our refineries will actually be receiving 'stripped'
crude," Smith said. "With a reasonably small increase in
investment, we could be capable of stripping every drop of oil
coming out of the Bakken."
The API said in a statement that "NGL removal is among the
topics being considered by the experts who are developing with [the
Pipeline and Hazardous Materials Safety Administration's]
participation the new standard for classifying, handling, and
transporting crude by rail, and API intends to review their work on
the issue before taking a position."
API has repeatedly emphasized that Bakken crude poses no greater
risk than other light oil varieties, a position Smith called
"short-sighted."
"Right now, they are kind of the lone soldier among the players
involved here saying [volatility] isn't an issue," Smith said of
API. "Everyone else is saying, 'We know it's an issue -- now we
have to figure out how we solve it.'"
Blake Sobczak Reporter, EnergyWire bsobczak@eenews.net
202-446-0400 (p) 202-737-5299 (f) @BlakeSobczak (Twitter)
Environment & Energy Publishing, LLC 122 C St. NW, Suite
722, Washington, DC 20001 www.eenews.net www.eenews.tv
EnergyWire, ClimateWire, E&E Daily, Greenwire, E&ENews PM,
E&ETV
About Quantum Energy, Inc.
QUANTUM ENERGY, INC. is a development stage, publicly traded,
diversified holding company with offices in Williston, North
Dakota. Quantum places an emphasis in refinery development,
land holdings, oil and gas exploration, drilling, well completion
and fuel distribution www.quantum-e.com.
Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not
strictly historical, including statements as to revenue
projections, business strategy, outlook, objectives, further
milestones, plans, intentions, goals, future financial conditions,
future collaboration agreements, the success of the Company's
development, events conditioned on stockholder or other approval,
or otherwise as to future events, such statements are
forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. The forward-looking statements contained in this release
are subject to certain risks and uncertainties that could cause
actual results to differ materially from the statements made.
For Company Contact: Invest Com USA 1-855-424-7447
Grafico Azioni Quantum Energy (PK) (USOTC:QEGY)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Quantum Energy (PK) (USOTC:QEGY)
Storico
Da Giu 2023 a Giu 2024