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This May Just Be The Start Of The Oil Price War Says IEA
This May Just Be The Start Of The Oil Price War Says IEA Saudi Oil Minister Ali al-Naimi may be one of the most powerful individuals in the global oil industry. After all, as the top oil official in arguably the world’s most influential oil-producing country, he has enormous influence. But for all his power, […]
Energy round-up: the next five years
Energy round-up: the next five years Three things you shouldn’t miss this week Article: What will a Conservative majority mean for climate and energy? – Carbon Brief’s essential post-election summary. Report: Decarbonizing Development Three Steps to a Zero-Carbon Future – What needs to happen now for the world to have zero emissions by 2100. Chart: Low oil prices are making their mark […]
The US-Saudi war with OPEC to prolong oil’s dying empire
The US-Saudi war with OPEC to prolong oil’s dying empire Whoever controls the price of oil can play god with the global economy – that’s why the US and Saudi Arabia are leading the way to smash OPEC and re-create a new global oil cartel “No one can set the price of oil,” said Saudi oil minister […]
Global oil glut grows to 2 million barrels a day as OPEC pumps more
Global oil glut grows to 2 million barrels a day as OPEC pumps more International Energy Agency predicts oversupply of refined fuel, but points to rising demand Fresh data on worldwide crude production shows the global glut of oil is growing with Saudi Arabia’s production near record highs, according to the International Energy Agency. And […]
Saudi Arabia Continues To Turn Screws On U.S. Shale
Saudi Arabia Continues To Turn Screws On U.S. Shale Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC’s latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month’s total of 10.29 million […]
“Motherfrackers” and Big Oil Hypesters
“Motherfrackers” and Big Oil Hypesters Forbe’s contributor Christopher Helman has always been an unapologetic supporter of shales. For instance, only last September he wrote a piece entitled “America’s Energy Outlook is Fracking Great, For Now”. Never mind that oil prices had begun their downward spiral three months prior to this statement. Never mind that every shale […]
New Oil-By-Rail Regulations Are Big Win for Oil and Rail Industries, Won’t Stop “Bomb Trains”
New Oil-By-Rail Regulations Are Big Win for Oil and Rail Industries, Won’t Stop “Bomb Trains” The long-awaited oil-by-rail regulations released today are basically a guidebook for the oil and rail industries to continue doing business as usual when it comes to moving explosive Bakken crude oil by rail. DeSmog recently reported on how the Obama administration has worked behind the […]
How Shale Is Becoming The .COM Bubble Of The 21st Century
How Shale Is Becoming The .COM Bubble Of The 21st Century As I review the financials of one of the largest shale producers in the United States, Whiting Petroleum (WLL), I can’t help but notice the parallels to the .COM era of 1999 which, to some extent, has already returned to the technology and biotech […]
The U.S. Production Decline Has Begun
The U.S. Production Decline Has Begun It is not because of decreased rig count. It is because cash flow at current oil prices is too low to complete most wells being drilled. The implications are profound. Production will decline by several hundred thousand of barrels per day before the effect of reduced rig count is fully […]
No Steep Decline In U.S Oil Production Expected Anytime Soon
No Steep Decline In U.S Oil Production Expected Anytime Soon Increased oil output in the US has kept World oil output from declining over the past few years and a major question is how long this can continue. Poor estimates by both the US Energy Information Administration (EIA) and the Railroad Commission of Texas (RRC) […]
8 States Dealing With Huge Increases in Fracking Earthquakes
8 States Dealing With Huge Increases in Fracking Earthquakes A new report, released Thursday from the U.S. Geological Survey (USGS), identified eight states in the eastern and central U.S. where fracking operations have led to dramatic increases in earthquakes, primarily from the injection of the wastewater byproduct of drilling operations into underground wells. This process can activate faults that in […]
The EIA Is Bizarrely Optimistic About Future US Oil Production
The EIA Is Bizarrely Optimistic About Future US Oil Production The EIA came out with its final update of Annual Energy Outlook 2015. It seems that the EIA is extremely optimistic concerning future US crude oil production. Here is a comparison with AEO 2014. The EIA still expects US crude production to peak in 2019 but […]
OPEC Says US Oil Boom Will End This Year
OPEC Says US Oil Boom Will End This Year OPEC says the demand for oil – its oil – will rise during 2015 because the cartel is winning its price war against US shale producers by driving them out of business. “Higher global refinery runs, driven by increased [summer] seasonal demand, along with the improvement […]
Is Saudi Arabia Setting The World Up For Major Oil Price Spike?
Is Saudi Arabia Setting The World Up For Major Oil Price Spike? In order to maintain a grip on market share by pushing U.S. shale producers out of the market, Saudi Arabia (and OPEC) is willing to use up its spare capacity. That could lead to a price spike. Saudi Arabia produced 10.3 million barrels per day […]
Latest EIA Predictions Should Be Taken With More Than A Pinch Of Salt
Latest EIA Predictions Should Be Taken With More Than A Pinch Of Salt The U.S. government released its landmark Annual Energy Outlook on April 14, with some rather bold predictions about the future of oil and gas. The EIA released the 2015 edition of its report at a Washington conferencehosted by the Center for Strategic and International Studies. […]
