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The Paradox of Oil: The Cheaper it is, the More it Costs
The Paradox of Oil: The Cheaper it is, the More it Costs There will be oil, but at what price? – Chris Nelder and Gregor Macdonald 1. Introduction It would be fair to say that the timing of the sudden drop in the price of oil since June 2014 took energy and financial analysts […]
Crude Parallels
Crude Parallels The Great Recession was seven years ago so it might seem appropriate that our memories of the specific nature and order of events is lost to time. However, given that it will be a seminal event in history (hopefully not surpassed) there is less leeway to having such a short grasp on the […]
Petrodollar Mercantilism Explained In One Chart
Petrodollar Mercantilism Explained In One Chart Over the past several months, with the price of crude plummeting to half where it was compared to a year ago, we have written much about the monetary reality of the Petrodollar (and more importantly, its recent disappearance), the socioeconomic implications for oil/commodity exporters, the liquidity considerations for the […]
Could Oil Prices Plummet A Second Time?
Could Oil Prices Plummet A Second Time? Are oil prices heading for a double dip? The surge in shale production has produced a temporary glut in supplies causing oil prices to experience a massive bust. After tanking to a low of $44 per barrel in January, falling rig counts and enormous reductions in exploration budgets have fueled […]
Here’s What Will Send Oil Prices Back Up Again
Here’s What Will Send Oil Prices Back Up Again Oil’s rapid decline since August of last year has been dramatic. To listen to some commentators you would also think it is unprecedented and irreversible. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face […]
This Week In Energy: Data Pointing To Another Fall In Oil Prices
This Week In Energy: Data Pointing To Another Fall In Oil Prices Oil prices have stabilized somewhat around the $60 per barrel mark, and over the past few weeks oil has shown less volatility than what we have grown used to in the preceding six or seven months. But another swoon could be just over […]
OPEC’s Strategy Is Working Claims Saudi Oil Minister
OPEC’s Strategy Is Working Claims Saudi Oil Minister Saudi Oil Minister Ali al-Naimi, the architect of OPEC’s strategy to regain market share by causing the price of crude oil to plunge, says his plan is working, and data from petroleum research firms seem to back him up. Making his first public comments in two months, […]
As Oil Prices Collapse, North Dakota Considers Weakening Standards on Radioactive Drilling Waste
As Oil Prices Collapse, North Dakota Considers Weakening Standards on Radioactive Drilling Waste As the collapse of oil prices threatens North Dakota’s shale drilling rush, state regulators are considering a move they say could save the oil industry millions of dollars: weakening the state’s laws on disposing of radioactive waste. The move has been the subject […]
Role of Wages of the Common Worker in Oil Prices, Collapse
Role of Wages of the Common Worker in Oil Prices, Collapse In their book Secular Cycles, Peter Turchin and Surgey Nefedof point out the important role falling wages of the common workers played in early collapses. I got to thinking that this might be an issue with our current situation as well, including the low level […]
Will US Shale Boom Continue Or Have A Hiatus?
Will US Shale Boom Continue Or Have A Hiatus? The conventional wisdom recently has been that North America will keep producing shale oil for some time despite the higher costs associated with hydraulic fracturing and the 50 percent drop in oil prices over the past eight months. The thing about conventional wisdom is that it […]
Oil Price Crash: Top 5 At-Risk Countries
Oil Price Crash: Top 5 At-Risk Countries Since June 2014, global oil prices have dropped by more than 50%. The drop could strongly affect the economic and political stability of these five oil exporting countries. Oil prices make winners and losers. In general, oil importers will gain from low prices, while most oil exporters will […]
Oil Bust Mauls Texas Manufacturers, Atlanta Fed Sees Hit to Broader US Economy
Oil Bust Mauls Texas Manufacturers, Atlanta Fed Sees Hit to Broader US Economy By now, every executive in the American oil patch goes through the day with one eye riveted on the price of oil. And on Monday, West Texas Intermediate plunged once again below $50 a barrel. It has become the nightmare price for […]
Is The EU Finally Breaking Free Of Russia’s Energy Grip?
Is The EU Finally Breaking Free Of Russia’s Energy Grip? Gazprom’s dominance over European energy supplies may be beginning to slip. The collapse of oil prices has punished Gazprom’s revenues, but in a new development that is further damaging to the Russian state-owned company, the European Union is also beginning to shake itself of Russian […]
The Rig Count “Meme” (And Why The Bounce In WTI Is Likely Over)
The Rig Count “Meme” (And Why The Bounce In WTI Is Likely Over) Recently, the Baker Hughes Rig Count has become all the rage. I did a search on Bloomberg, using only Bloomberg generated articles, with “Rig” and “Count” as matches in the headline only. Back in October, there were barely any articles at all. The […]
Is Oil Returning to $100 Or Dropping To $10?
Is Oil Returning to $100 Or Dropping To $10? If you have been following the price of oil over the last few months, the chances are you’re a little confused. On the one hand you have the likes of A. Gary Shilling who, in this Bloomberg article, loudly trumpets the prospect of oil at $10/Barrel, […]
