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Tag Archives: oil price collapse
‘The Drop in Oil Price Means We Need More Action on Climate Change Not Less’
‘The Drop in Oil Price Means We Need More Action on Climate Change Not Less’ This month, a powerful article in Nature highlighted yet again that most of the world’s oil, coal and gas needs to stay in the ground, if we want to prevent dangerous climate change. This is the “unburnable carbon” analysis that President Obama and Bank […]
Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down
Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down Five years ago, I noted how unsustainable Canadian economic growth is fuelled by debt, which is leveraged to increase the prices–and ‘profitability’–of assets like oil holdings and real estate. It might as well be called “phantom growth,” because it’s bound to disappear […]
Crude Contagion: California’s Kern County Declares Fiscal Emergency Due To Plunging Oil Price
Crude Contagion: California’s Kern County Declares Fiscal Emergency Due To Plunging Oil Price At this point only an act of god, or a sudden Saudi change of heart to cut crude production by 50% (unclear which is more probable) can prevent a recession in Texas. However, one state that few thought would be impaired as […]
Bearishness Continues Among Oil Industry Experts
Bearishness Continues Among Oil Industry Experts The business world is full of sometimes conflicting theories about what caused the plunge in oil prices during the past seven months, and how low that price will go. But Goldman Sachs seems to have come up with a unified theory. It began late in the afternoon of Jan. […]
The Shemitah: The Biblical Pattern Which Indicates That A Financial Collapse May Be Coming In 2015 – See more at: http://www.thedailysheeple.com/the-shemitah-the-biblical-pattern-which-indicates-that-a-financial-collapse-may-be-coming-in-2015_012015#sthash.0u6YG0le.dpuf
The Shemitah: The Biblical Pattern Which Indicates That A Financial Collapse May Be Coming In 2015 We are really starting to see the price of oil weigh very heavily on the economy and on the stock market. On Tuesday, the Dow was down 291 points, and the primary reason for the decline was disappointing corporate […]
Iraq Oil Surge to Fan OPEC Rivalry That Triggered Slump
Iraq Oil Surge to Fan OPEC Rivalry That Triggered Slump (Bloomberg) — The battle for customers among OPEC members that helped trigger oil’s collapse is about to escalate. Iraqi crude production is climbing from a 35-year high as it adds growing Kurdish supplies to its exports, while southern oilfields remain unscathed by Islamic State militants. […]
Hounded by Evil Dollar & Collapsed Commodity Prices, Corporate America Clamors for Total Currency War
Hounded by Evil Dollar & Collapsed Commodity Prices, Corporate America Clamors for Total Currency War Consumers are feeling practically euphoric. The Conference Board index jumped almost ten points to 102.9, the highest since August 2007, just before the whole construct came apart. Not that reality has suddenly improved that much. But hey, we’re born survivors. […]
Blame Oil: Opportunistic thinking amid the oil price collapse
Blame Oil: Opportunistic thinking amid the oil price collapse The wisdom of Winston Churchill, who once quipped that you should never let a good crisis go to waste, clearly hasn’t been lost on federal Finance minister Joe Oliver, who’s already made considerable hay out of falling oil prices. Mr. Oliver’s finance department won’t table a […]
OPEC Chief Claims Oil Will Rebound Higher Than In 2008
OPEC Chief Claims Oil Will Rebound Higher Than In 2008 OPEC’s secretary-general says the 7-month-old plunge in oil prices finally may have bottomed out and may be ready to rise again. In fact, Abdullah al-Badri hypothesized that a decision by his cartel to cut production conceivably could lead to oil at $200 a barrel. “Now […]
Why Oil Prices Will Be “Lower For Longer” In 3 Simple Charts
Why Oil Prices Will Be “Lower For Longer” In 3 Simple Charts History may not repeat… but it does rhyme! A pattern emerges – from investment to exploitation… It’s deja vu all over again… And it’s different this time… Source: Goldman Sachs
Oil prices fall on market relief over Saudi policy
Oil prices fall on market relief over Saudi policy (Reuters) – Oil prices fell on Monday, with U.S. crude falling close to a nearly six-year low, as Saudi Arabia’s new King Salman moved to assuage fears of an unstable transition and any policy change in the world’s largest oil exporter. Salman was quick to retain veteran Saudi oil […]
Oil-and-Gas Default Wave, “Outright Liquidations” Next
Oil-and-Gas Default Wave, “Outright Liquidations” Next Every rally in crude oil since June turned out to be a pathetic sucker rally. On Friday, West Texas Intermediate fell over 2% to $45.32 a barrel, back where it had been on January 12, annihilating most of the 12% rally in between. WTI is now 58% below the June […]
Oil Prices Changing The Face Of Global Geopolitics
Oil Prices Changing The Face Of Global Geopolitics In a documentary that aired recently on the Canadian Broadcasting Corporation’s popular The Fifth Estate program, an allegory of Vladimir Putin was presented. The wily Russian president was described growing up in a shabby St. Petersburg apartment, where he would often corner rats. Now, punished by low […]
“Oil Drillers Are Going To Die” In Q2, Conway Mackenzie Warns “Expect Outright Liquidations”
“Oil Drillers Are Going To Die” In Q2, Conway Mackenzie Warns “Expect Outright Liquidations” “The second quarter is going to be devastating for the service companies,” warns Conway Mackenzie – the largest U.S. restructuring firm – adding that, despite slashing thousands of jobs, delaying (or scrapping) billions in capex amid the prolonged rout in oil prices, […]
This Week In Energy: New Saudi King Can’t Save Oil Prices
This Week In Energy: New Saudi King Can’t Save Oil Prices The major news story breaking in the oil space today is the passing of Saudi Arabia’s King Abdullah and the succession to the throne of King Salman bin Abdulaziz Al Saud. This comes at a time when oil prices have fallen over 60 percent […]
