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Tag Archives: oil price collapse
Why the Hysteria Over Oil Prices Is Overblown
Why the Hysteria Over Oil Prices Is Overblown Wild stormy weather stops us in our tracks. Factories close. Offices are abandoned. School is cancelled. After the rush to stock up, stores are shuttered. And when the storm hits, it’s all we can think about — especially if the power goes out. It can seem like […]
Tanking Asia Gas Prices Makes BC LNG ‘Not Viable,’ Expert Says
Tanking Asia Gas Prices Makes BC LNG ‘Not Viable,’ Expert Says A liquified natural gas industry, as currently promoted by British Columbia’s Liberal government, is not viable at current natural gas prices, and the proposed industry tax regime actually “gives a subsidy to the LNG industry,” according to a royalty expert. Jim Roy, a former […]
Oil Dinosaurs Face Extinction: State Oil Companies and the Meteor-Strike of Low Oil Prices
Oil Dinosaurs Face Extinction: State Oil Companies and the Meteor-Strike of Low Oil Prices State-owned oil companies that don’t slash expenses to align with revenues and boost critical investment in the infrastructure needed to maintain production will suffer financial extinction. Domestic and international energy companies are responding to the 50% decline in the price of […]
12 Signs That The Economy Is Really Starting To Bleed Oil Patch Jobs
12 Signs That The Economy Is Really Starting To Bleed Oil Patch Jobs The gravy train is over for oil workers. All over North America, people that felt very secure about their jobs just a few weeks ago are now getting pink slips. There are even some people that I know personally that this has […]
Manufacturing Hit by Oil-Price Plunge? Southeast Worst Since Financial Crisis
Manufacturing Hit by Oil-Price Plunge? Southeast Worst Since Financial Crisis Atlanta Fed suspects oil bust, strong dollar. Despite President Obama’s emphatic assurances in the State of the Union Address that “our economy is growing and creating jobs at the fastest pace since 1999,” there have recently been some uncomfortable squiggles, so to speak. The collapse in […]
Interest Rate Cut: Bank Of Canada Moves To Stave Off Threat From Sliding Oil Prices
Interest Rate Cut: Bank Of Canada Moves To Stave Off Threat From Sliding Oil Prices OTTAWA — The looming economic threat of sliding oil prices is forcing the Bank of Canada to unexpectedly cut its trend-setting rate to three quarters of a percentage point from one per cent. The central bank’s announcement follows the stunning […]
Kurd Oil Producers Unrelenting to Boost Supply at low Prices
Kurd Oil Producers Unrelenting to Boost Supply at low Prices Oil producers in Iraqi Kurdistan are unrelenting in their goal to boost output even after the collapse in international prices to below $50 a barrel. Genel Energy Plc (GENL), headed by former BP Plc chief Tony Hayward, is sticking with plans to increase capacity 74 percent to 400,000 […]
Low Prices Driving Record U.S. Crude Oil Exports Despite Crude Oil Export Ban
Low Prices Driving Record U.S. Crude Oil Exports Despite Crude Oil Export Ban “Are you more desperate to get a better deal when you’re poor? I guess you are.” That was John Auers, executive vice president of oil industry consulting firm Turner Mason & Company, describing the oil industry as being “poor” and “desperate” to Bloomberg. As the […]
Alberta One Of Hardest Hit By Lower Oil Prices
Alberta One Of Hardest Hit By Lower Oil Prices The week ending Jan. 17 was a bad one for Alberta, the Canadian province that once was enjoying an oil boom. Schlumberger, the oil services giant in Canada’s west, cut spending dramatically, postponed projects in the region and announced 9,000 layoffs for its worldwide operations. Suncor Energy […]
Whiplash!
Whiplash! Over the course of 2014 the prices the world pays for crude oil have tumbled from over $125 per barrel to around $45 per barrel now, and could easily drop further before heading much higher before collapsing again before spiking again. You get the idea. In the end, the wild whipsawing of the oil […]
Oil Price Collapse Hurting Some More Than Others
Oil Price Collapse Hurting Some More Than Others U.S. oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending. While […]
On to Plan B as Oil Work Stalls in Texas
On to Plan B as Oil Work Stalls in Texas MIDLAND, Tex. — With oil prices plummeting by more than 50 percent since June, the gleeful mood of recent years has turned glum here in West Texas as the frenzy of shale oil drilling has come to a screeching halt. Every day, oil companies are decommissioning rigs and announcing layoffs. Small […]
A Solemn Pause|Kunstler
A Solemn Pause|Kunstler Events are moving faster than brains now. Isn’t it marvelous that gasoline at the pump is a buck cheaper than it was a year ago? A lot of short-sighted idiots are celebrating, unaware that the low oil price is destroying the capacity to deliver future oil at any price. The shale oil […]
IEA Provides First Sign That Tide May Be Turning For Oil Prices
IEA Provides First Sign That Tide May Be Turning For Oil Prices Last week, energy investors got the first of several reports that should confirm for Wall Street analysts that the physical markets for crude oil are responding to the sharp drop in oil prices. I believe supply/demand will work back to a balance during […]
The PunchLine: “The Oil Crash Is No Small Matter…Repurcussions Will Be Extensive”
The PunchLine: “The Oil Crash Is No Small Matter…Repurcussions Will Be Extensive” Awkward Beginnings… With all due respect… What a way to start the year. The crash in oil prices is no small matter. The previous down sweep in energy prices occurred in the midst of the financial crash 0f 2008 and Great Recession. Oil prices […]
