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Tag Archives: oil price collapse
Oil Industry Withdraws From High Cost Areas
Oil Industry Withdraws From High Cost Areas The oil industry is pulling back from some marginal areas of operation, slashing jobs and spending, and retrenching in the face of the ongoing slump in oil markets. Signs of a shrinking footprint are beginning to pop up across the globe. Norway’s Statoil has let three of its […]
Fossil Fuel Use is Limited by Climate, if Not by Resources.
Fossil Fuel Use is Limited by Climate, if Not by Resources. We appear to be living in rather peculiar and unsettling times. A year ago, discussions and fears were over the high oil price, which until September 2014, had been above $100 a barrel http://uk.reuters.com/article/2014/09/09/markets-oil-idUKL3N0RA1L220140909. The price rose to $115 in June 2014, but has subsequently […]
Gail Tverberg: This Is The Beginning Of The End For Oil Production
Gail Tverberg: This Is The Beginning Of The End For Oil Production Why the shale collapse is ushering in a permanent turndown With the recent collapse in the price of oil, Gail Tverberg, returns to discuss the likely impact on the US shale oil industry, as well as the global market for oil. Gail is a professional […]
Be Prepared For An Oil Price Spike
Be Prepared For An Oil Price Spike The recent collapse in oil prices has taken pundits and oil producers by surprise. It was only six months ago that prices were over $100/bbl and at that time they had been above $100/bbl for three and a half years. In fact the stability had become uncanny, so […]
Russia Abandons PetroDollar By Opening Reserve Fund
Russia Abandons PetroDollar By Opening Reserve Fund 2015 has not been good to Russia; the spread between Brent and WTI is gone in anticipation of US exports and both benchmarks have flirted with sub $45 prices. A hostage to such prices, the ruble has yet to begin its turnaround and the state’s finances are in […]
Oil price crash threatens the future of the North Sea oilfields
Oil price crash threatens the future of the North Sea oilfields Scottish government pledges to try to preserve offshore energy sector jobs, with prices having fallen 60% in the last six months The potential impact of the oil price slump on Scotland was underlined as a leading energy expert warned on Wednesday that North Sea […]
The Fed and the Price of Oil
The Fed and the Price of Oil Given the potential for financial losses triggered by oil’s price collapse to cascade into the financial sector at large, the Fed may well be forced to intervene either directly or indirectly. An email dialog with correspondent Mark G. last month alerted me to the key role the Federal […]
Is Keystone Still Viable Amid Low Oil Prices?
Is Keystone Still Viable Amid Low Oil Prices? On Monday the Keystone XL pipeline project crossed another hurdle when legislation approving construction of the proposed line to connect Canadian oil sands crude with Gulf Coast refineries was passed by the United States Senate. The bill sailed through 63 votes to 32 in the Senate, which […]
Why Governments Love Terrorism “Wars”
Why Governments Love Terrorism “Wars” Telltale Signs Dow down a little on Tuesday. Gold almost unchanged. Oil kept slipping. From Bloomberg: “Oil fell below $45 a barrel amid speculation that US stockpiles will increase, exacerbating a global supply glut that’s driven prices to the lowest in more than 5½ years. Oil slumped almost 50% last […]
Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years
Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years For the 2nd month in a row, home prices in Calgary – corporate hub of Canada’s oil industry – have fallen. This is the biggest 2-month-drop in almost 2 years (and comes on the heels of yesterday’s news that Suncor is slashing jobs and capex). As Bloomberg […]
March of the Squirrels
March of the Squirrels Prediction is a difficult business at the best of times, but the difficulties seem to change from one era to another. Just now, at least for me, the biggest challenge is staying in front of the headlines. So far, the crash of 2015 is running precisely to spec. Smaller companies in the […]
Is Keystone Still Viable Amid Low Oil Prices?
Is Keystone Still Viable Amid Low Oil Prices? On Monday the Keystone XL pipeline project crossed another hurdle when legislation approving construction of the proposed line to connect Canadian oil sands crude with Gulf Coast refineries was passed by the United States Senate. The bill sailed through 63 votes to 32 in the Senate, which […]
Russia Just Pulled Itself Out Of The Petrodollar
Russia Just Pulled Itself Out Of The Petrodollar Back in November, before most grasped just how serious the collapse in crude was (and would become, as well as its massive implications), we wrote “How The Petrodollar Quietly Died, And Nobody Noticed“, because for the first time in almost two decades, energy-exporting countries would pull their […]
The Age Of Cheap Oil Is Over
The Age Of Cheap Oil Is Over The longer I look at what is going on today with oil prices the less it makes sense to me. I know there are a lot of experts who blame this all on the “glut” of oil created by overly aggressive U.S. upstream companies that took all the […]
The Center’s Got To Give
The Center’s Got To Give I was thinking about something along the lines of The Center Cannot Hold and Something’s Got To Give earlier, but then I thought there’s no way I haven’t used those titles before. And then it occurred to me that The Automatic Earth started 7 years ago this month. Just looked […]
