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Oil Price Plunge Raises Fears for Indebted Shale Companies
Oil Price Plunge Raises Fears for Indebted Shale Companies The latest fall in oil prices is once again putting pressure on indebted shale companies. After falling from over $100 per barrel down to $43 per barrel at its lowest point in March of this year, WTI prices rebounded with a 40 percent rise, trading for more or […]
OPEC Still Holds All The Cards In Oil Price Game
OPEC Still Holds All The Cards In Oil Price Game Traders were busy throwing in the towel on oil futures this week just as the first solid data and hope appeared that oil prices may be starting on the long road to recovery. As oil prices approached $52 per barrel on Tuesday, July 7, the […]
Shell’s Renewed Arctic Drilling Campaign Faces Yet Another Setback As Key Ship Forced Back To Port
Shell’s Renewed Arctic Drilling Campaign Faces Yet Another Setback As Key Ship Forced Back To Port Is Shell finally “Arctic Ready” after its doomed 2012 campaign? The company is set to begin drilling in the Arctic within the week, and it’s already not looking good. The MSV Fennica, an icebreaker vessel bound for the Chukchi Sea, had barely left […]
What Greece, Cyprus, and Puerto Rico Have in Common
What Greece, Cyprus, and Puerto Rico Have in Common We all know one thing that Greece, Cyprus, and Puerto Rico have in common–severe financial problems. There is something else that they have in common–a high proportion of their energy use is from oil. Figure 1 shows the ratio of oil use to energy use for selected […]
Minority, Low-Income Communities Bear Disproportionate Share Of Risk From Oil Trains In California
Minority, Low-Income Communities Bear Disproportionate Share Of Risk From Oil Trains In California People of color and low-income communities are bearing a disproportionate burden of risk from dangerous oil trains rolling through California, according to a new report by ForestEthics and Communities for a Better Environment. Called “Crude Injustice On The Rails,” the report found that 80 percent of […]
Midweek Sector Update: Oil Prices Crash Again – Another Downturn Ahead?
Midweek Sector Update: Oil Prices Crash Again – Another Downturn Ahead? We had warned over the past few weeks that there was an outside chance that the Greek crisis would infect oil markets, and over the weekend Greek voters ensured that it did. With an overwhelming “no” vote, just about every corner of Greece voted against Europe’s […]
Bearish News For Oil Growing By The Day
Bearish News For Oil Growing By The Day Oil hit its lowest point in two months on July 1, falling on a combination of market turmoil and bearish oil figures. WTI dipped below $57 and Brent dropped to around $62 per barrel, breaking out of a narrow range within which the two benchmarks have been […]
Asia depends on Middle East for 66 % of its oil imports
Asia depends on Middle East for 66 % of its oil imports This post uses data from the inter area oil movement section of the BP Statistical Review published in June 2015. It is a continuation of an earlier post on Asian oil consumption and production Global trade and Asia’s share Total global oil trade […]
Canada’s Oil Patch Goes Into Convulsions
Canada’s Oil Patch Goes Into Convulsions Alberta, the province that has become the epicenter of Canada’s oil bust, does not yet have a budget for fiscal 2015-16. Premier Rachel Notley promised delivery by October. But it won’t be easy. Ideas are already floating around and are getting shot down. The problem: a budget crisis has […]
Are Coal, Oil and Gas the Subprime Assets of the Future?
Are Coal, Oil and Gas the Subprime Assets of the Future? That question was actually asked by British Secretary of State for Energy and Climate Change Ed Davey last year, and its ramifications are extensively explored in a provocative report released today by the Center for International Environmental Law, a Washington, D.C. think tank. According to CIEL, the answer […]
Asia’s oil consumption at record high while production peaked in 2010
Asia’s oil consumption at record high while production peaked in 2010 The annual BP Statistical Review has come out, as usual in June. In this post we focus on the Asia Pacific region. This is important because the Australian government has offered the help of “Team Australia” to build the “Asian Century”. The question no one […]
Gas prices ‘way beyond’ where oil rebound should have them: BMO
Gas prices ‘way beyond’ where oil rebound should have them: BMO It’s not just you: Gas prices are much higher than they should be, energy experts say Gas prices are up by more than a third since the start of the year, a figure much higher than one would expect based on the slight rebound in […]
Jim Rogers: Turmoil Is Coming
Jim Rogers: Turmoil Is Coming Predictions on the markets, gold, Greece & more Two years since his last interview with us, investor Jim Rogers returns and notes that the risks he warned of last time have only gotten worse. In this week’s podcast, Jim shares his rational for predicting: increased wealth confiscation by the central […]
Texas Oil and Gas Production for April
Texas Oil and Gas Production for April The preliminary Texas RRC Production Data is out this morning. There appears to be a considerable drop in Texas crude oil production in April. All Texas RRC data in the charts below is through April 2015 and all EIA data is through March 2015. For those new to this site, the Texas […]
