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Shale Oil’s “Dirty Little Secret” Has Been Exposed
Shale Oil’s “Dirty Little Secret” Has Been Exposed On Friday, on the way to diving into Goldman’s $20 crude call, we recapped our characterization of low crude prices as a battle between the Fed and the Saudis, a battle which is now manifesting itself in budget troubles in Riyadh and a concurrent FX reserve burn. […]
The Petroyuan Cometh: Launch Of Renminbi-Denominated Oil Futures Contract Imminent
The Petroyuan Cometh: Launch Of Renminbi-Denominated Oil Futures Contract Imminent Whenever one talks about the death of the petrodollar, the unspoken question lurking just beneath the surface is this: is the rise of the petroyuan just around the corner? This year, we’ve gotten quite a bit of evidence to suggest that the answer to that question […]
Why Saudi Arabia’s Pursuit Of Market Share Is Self-Defeating
Why Saudi Arabia’s Pursuit Of Market Share Is Self-Defeating The Saudis are on track to sacrifice ~$100 billion in crude export revenues in 2015, or 45 percent of 2014’s ~$219 billion in crude export revenues, in pursuit of market share, the measure of success Saudi Oil Minister Ali bin Ibrahim Al-Naimi announced at the November […]
Migrant Crisis & Syria War Fueled By Competing Gas Pipelines
Migrant Crisis & Syria War Fueled By Competing Gas Pipelines Don’t let anyone fool you: Sectarian strife in Syria has been engineered to provide cover for a war for access to oil and gas, and the power and money that come along with it. Editor’s note: This article has been updated to reflect recent Wikileaks […]
Oil Production Boom Is Not What It Seems As Future Investments Are Uncertain
Oil Production Boom Is Not What It Seems As Future Investments Are Uncertain Amid a holiday-dappled week, we barrel in to Wednesday without the presence of the weekly oil inventory report; we will have to wait until tomorrow at 11am (EDT) for that. We do, however, get the API report after market close, although the […]
Powder Kegs Exploding: Violence Escalates In Turkey, Yemen As Mid-East Tips Towards Chaos
Powder Kegs Exploding: Violence Escalates In Turkey, Yemen As Mid-East Tips Towards Chaos On Friday we checked in on two of the world’s most important conflicts: 1) that which is unfolding in Turkey where President Recep Tayyip Erdo?an has effectively granted Washington access to Incirlik (you know, for “anti-terror” sorties) in exchange for NATO’s acquiescence […]
How Fracking Changed the Economics of Oil Production Around the World
How Fracking Changed the Economics of Oil Production Around the World James Meadway, chief economist at the New Economics Foundation, explains the interrelated economics behind China’s ‘Black Monday’ stock market crash, Middle Eastern oil and US fracking. The ‘fracking revolution’ has transformed the economics of oil production globally, with the US becoming a bigger producer than Saudi Arabia and […]
Fallout From Petrodollar Demise Continues As Qatar Borrows $4 Billion Amid Crude Slump
Fallout From Petrodollar Demise Continues As Qatar Borrows $4 Billion Amid Crude Slump Early last month in “Cash-Strapped Saudi Arabia Hopes To Continue War Against Shale With Fed’s Blessing,” we noted the irony inherent in the fact that Saudi Arabia, whose effort to bankrupt the US shale space has blown a giant hole in the […]
Counterterrorism “Success Story” Fails Completely As Yemen Set To Split Into Two Countries
Counterterrorism “Success Story” Fails Completely As Yemen Set To Split Into Two Countries Late last month, as the fighting in Yemen continued unabated, Jeff Prescott, the National Security Council’s Senior Director for the Middle East said “there is no military solution to the crisis.” Saudi Arabia seemingly disagrees and that will reportedly be one topic […]
Why Did Oil Prices Just Jump By 27 Percent In 3 Days?
Why Did Oil Prices Just Jump By 27 Percent In 3 Days? Oil prices have posted their strongest rally in years, jumping an astounding 27 percent in the last three trading days of August. While much of the recent price movement defies reason and is enormously magnified by speculativemovements by traders to take and cover their […]
The “Great Accumulation” Is Over: The Biggest Risk Facing The World’s Central Banks Has Arrived
The “Great Accumulation” Is Over: The Biggest Risk Facing The World’s Central Banks Has Arrived To be sure, there’s been no shortage of media coverage regarding the collapse in crude prices that’s unfolded over the course of the past year. Similarly, it’s no secret that commodity prices in general are sitting near their lowest levels […]
It Just Doesn’t Matter
It Just Doesn’t Matter When an avalanche is about to descend upon you, does it really matter which snowflake was the penultimate cause? While it’s interesting (in a mental masturbation kind of way) to debate the genesis of a pending market collapse, environmental chaos, or energy cliff, in the end, it really doesn’t matter–unless, of course, […]
OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?
OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy? “If you are the world’s leading energy economy, you produce energy, that’s what you do.” “A government can stay irrational longer than it can stay solvent.” “Even in the short term, you’re dead, if you commit suicide.” The first quote modifies a GEICO commercial describing a free-range chicken […]
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks Last weekend, we explained why it really all comes down to the death of the petrodollar. China’s transition to a new currency regime was supposed to represent a move towards a greater role for the market in determining the exchange rate for the yuan. […]
