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Tag Archives: oil price
Canadian dollar tumbles to close below 72 cents US
Canadian dollar tumbles to close below 72 cents US Oil slips below $35 US amid continuing strength of U.S. dollar Some analysts say the loonie could eventually fall to 70 cents US as the currency is pressured by low commodity prices, and the diverging interest rate policies of Canada and the United States. (Mark Blinch/Reuters) […]
Financial War over Oil Reshapes World, Will End with Much Higher Prices
Financial War over Oil Reshapes World, Will End with Much Higher Prices Low oil prices are the wreckage from a war – a financial war. By Larry Kummer, Editor of the Fabius Maximus website: Oil sell-off after OPEC makes even ECB look good. Better to have announced something, even if less than hoped for, than nothing […]
Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40
Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40 Not helped by weakness in China trade data, questions over global growth and inflation expectations are growing. Oil-exporting nations (and growth-linked currencies) are getting monkey-hammered… Just when traders thought the bottom was in… As Reuters notes, with lower oil prices likely to add to global deflationary […]
One Chart Shows Where Oil Prices Could Be Headed
One Chart Shows Where Oil Prices Could Be Headed There’s a rare extreme in the oil sector right now… The oil-to-U.S. dollar ratio – which reflects the relationship between the price of oil and the dollar – is near its lowest point in almost seven years. When this ratio hit a low in 2009, the […]
Can We Afford the Future?
Can We Afford the Future? Broken road image via shutterstock. Reproduced at Resilience.org with permission. As a child of the 1950s I grew up immersed in a near-universal expectation of progress. Everybody expected a shiny new future; the only thing that might have prevented us from having it was nuclear war, and thankfully that hasn’t happened […]
Stop Blaming OPEC For Low Prices
Stop Blaming OPEC For Low Prices We are a little more than a month away from OPEC’s next meeting, which will be held in Vienna on December 4, 2015. OPEC altered the course of the oil markets last year when it decided to cast aside its traditional role of maintaining balance through production cuts. Instead […]
Oil Market Showdown: Can Russia Outlast The Saudis?
Oil Market Showdown: Can Russia Outlast The Saudis? “Two men enter, one man leaves, two men enter, one man leaves, two men enter…” Mad Max: Beyond Thunderdome November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. This decision set crude prices on a downward […]
Goldilocks and the three prices of oil
Goldilocks and the three prices of oil We all know Goldilocks from the story of Goldilocks and the Three Bears in which the young maiden wanders into the home of the bears and samples some porridge that happens to be sitting on the dinner table. The first bowl is too hot, the second is too cold and […]
How Tories Dumped Your Interests at the Pump
How Tories Dumped Your Interests at the Pump Oil is cheaper by half. So why don’t feds try and deliver savings to drivers? Oil prices have plunged by 50 per cent since last year, but you would never know that looking at what people are paying at the pump. What gives? Don’t ask the Conservatives. […]
Newfoundland’s oil ripple effect: As prices fall, commuting workers stay home
Newfoundland’s oil ripple effect: As prices fall, commuting workers stay home The big paycheques from Alberta are drying up, and with them the economic good times It was a tell-tale sign when East Coast Catering of St. John’s laid off 44 workers in September. The company supplies meals and housekeeping services to Newfoundland’s offshore oil rigs, two […]
Too Many Wildcards For Oil Markets To Settle Yet
Too Many Wildcards For Oil Markets To Settle Yet Could the price of oil be a value such that the current quantity produced exceeds the current quantity consumed? The answer is yes, and indeed that has been the case for much of the past year. Suppose, for illustration, that even at a price of $40, […]
Is cheaper driving here to stay?
Is cheaper driving here to stay? Gasoline may stay cheap until we burn through the current market glut in perhaps a year. We are now seeing declining growth and a deflationary economic contraction globally. In fact, the current $40-plus a barrel oil price is by itself good proof of that. The global collapse in the […]
For Canadian Oil Sands It’s Adapt Or Die
For Canadian Oil Sands It’s Adapt Or Die That low oil prices are squeezing out oil sands producers is not breaking news. But in spite of a grim oil price outlook, production out of Calgary has continued to grow, defying both expectations and logic. The implications are serious, not just for the future of Canada’s […]
Crude Oil – a “Ray of Hope”
Crude Oil – a “Ray of Hope” Why Technical Developments Shouldn’t be Ignored This is a little addendum to our recent comments on the crude oil market (which you can see here, here andhere, in chronological order). Apparently Goldman Sachs just published a research report calling for $20 oil – which strikes us as a bookend to their infamous $200 […]
