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As The US Rig Count Collapses Most Since 2014, Will The Fed Bail Out Oil Companies?
As The US Rig Count Collapses Most Since 2014, Will The Fed Bail Out Oil Companies? After a chaotic week in the energy complex, today’s data from Baker Hughes suggests American oil companies are finally starting to draw the line as rig counts collapse to their lowest since July 2016, having collapsed at the fastest […]
How Oil Prices Could Go To $100
How Oil Prices Could Go To $100 “We’re in a deflationary moment that surpasses anything seen in most people’s lifetimes,” proclaimed a New York Times byline on Tuesday, the morning after oil prices went negative. The West Texas Crude Intermediate benchmark plummeted to previously unimaginable depths, closing the day at negative $37.63 per barrel. The novel coronavirus has […]
U.S. Shale Faces Largest Ever Drop in Fracking Activity
U.S. Shale Faces Largest Ever Drop in Fracking Activity The Covid-19 crisis combined with the oil price war is about to trigger the largest ever monthly drop in U.S. fracking activity. The Covid-19 pandemic has ravaged global oil demand and, coupled with the extremely low price levels brought on by the wide supply surplus, is […]
COVID-19 and oil at $1: Is there a way forward?
COVID-19 and oil at $1: Is there a way forward? Many people are concerned today with the low price of oil. Others are concerned about slowing or stopping COVID-19. Is there any way forward? I gave a few hints regarding what is ahead in my last post, Economies won’t be able to recover after shutdowns. We live in […]
Futures, Oil Plunge As Crude Contagion Spreads To All Markets
Futures, Oil Plunge As Crude Contagion Spreads To All Markets The experts said ignore the May WTI meltdown – it is irrelevant and is only confined to the deliverable contract. The experts were wrong. Not only was the Monday May WTI meltdown not contained, with the contract still trading negative after closing down nearly $40 […]
COMING COLLAPSE OF U.S. FINANCIAL PONZI SCHEME: Leading To Exploding Gold & Silver Prices
COMING COLLAPSE OF U.S. FINANCIAL PONZI SCHEME: Leading To Exploding Gold & Silver Prices Americans are totally unprepared for the coming collapse in the U.S. Financial Ponzi Scheme and Economy. While the highly-leveraged debt-based U.S. financial system and economy were going to implode on their own in due time, the global contagion has sped up […]
Historic Oil Crash Sends Canadian Oil Prices Negative
Historic Oil Crash Sends Canadian Oil Prices Negative When Goldman’s crude oil analysts turned apocalyptic last month, writing that “This Is The Largest Economic Shock Of Our Lifetimes“, they echoed something we said previously namely that the record surge in excess oil output amounting to a mindblowing 20 million barrels daily or roughly 20% of […]
WTI Crashes To 19 Year Low As Trading Reopens; S&P Futures Slide
WTI Crashes To 19 Year Low As Trading Reopens; S&P Futures Slide After a relatively drama-free weekend, futures have started off the new week lower by about 0.4%, trading at 2850, down 20 points from Friday’s CTA inspired and momentum-driven meltup which appears to be reversing as algos realize they have frontrun a rebound in not just […]
For Oil and Its Dependents, It’s Code Blue
For Oil and Its Dependents, It’s Code Blue The great price collapse of 2020 will topple companies and transform states. If oil has been laid low by the coronavirus, then the nations whose economies most depend on it might soon be on ventilators. By any prognosis the great oil price collapse of 2020 has pushed […]
Nuclear reactor issues
Nuclear reactor issues Preface. There are half a dozen articles below. Although safety and disposal of nuclear waste ought to be the main reasons why no more plants should be built, what will really stop them isbecause it takes years to get permits and $8.5–$20 billion in capital must be raised for a new 3400 […]
‘We Need Water Before Oil’: Kenyan Communities Scarred by Chinese Oil Exploration
‘We Need Water Before Oil’: Kenyan Communities Scarred by Chinese Oil Exploration The repeated honking of a speeding Tawakul shuttle announces the return of travellers to Merti from distant towns at dusk. It also marks the close of another searing and slow day in this part of northern Kenya. Idling villagers’ faces are suddenly lit by […]
Canadian Oil Sands Per Barrel At $4.47, Now Cheaper Than 12-Pack Coke, $5.08
Canadian Oil Sands Per Barrel At $4.47, Now Cheaper Than 12-Pack Coke, $5.08 The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Coke purchased at Walmart. According to oilprice.com, the current price of a barrel […]
Some Oil Producing Nations Agree to Cut Production 10%
Some Oil Producing Nations Agree to Cut Production 10% Oil-producing nations led by Russia, the U.S. and Saudi Arabia reached an unprecedented agreement on Sunday to cut oil production by 9.7 million barrels per day, or nearly 10 percent of what is currently produced, as The New York Times reported. Since the COVID-19 pandemic has triggered lockdowns […]
Oil, Gas, Petrochemical Financial Woes Predate Pandemic — And Will Continue After, Despite Bailouts, Report Finds
Oil, Gas, Petrochemical Financial Woes Predate Pandemic — And Will Continue After, Despite Bailouts, Report Finds The oil, gas, and petrochemical industries have taken a massive financial blow from the COVID-19 pandemic, a new report from the Center for International Environmental Law (CIEL) concludes, but its financial troubles preexisted the emergence of the novel coronavirus and are likely to extend […]
U.S. Oil Drilling Grinds To A Halt At Key Shale Hotspots
U.S. Oil Drilling Grinds To A Halt At Key Shale Hotspots Oil and gas production in the United States has peaked and is already in decline. The latest data from the EIA’s Drilling Productivity Report sees widespread production declines across all major shale basins in the country. The Permian is set to lose 76,000 bpd between April […]
