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Pope Francis’ Encyclical Is A Sincere Call For Climate Action, Economic Justice
Pope Francis’ Encyclical Is A Sincere Call For Climate Action, Economic Justice Pope Francis has released his long awaited encyclical, or teaching document, on climate justice and the environment, and it flies in the face of everything climate deniers stand for. The encyclical is officially called “Laudato Si (Be Praised), On the Care of Our Common Home,” and it […]
Biggest Glut In Recorded Crude-Oil History Taking Shape
Biggest Glut In Recorded Crude-Oil History Taking Shape The world is on the brink of the longest-lasting oil glut in at least three decades and OPEC’s quest for market share makes it almost unavoidable, according to Bloomberg. Oil supply has exceeded demand globally for the past five quarters, already the most enduring glut since the 1997 […]
No, BP, the U. S. did NOT surpass Saudi Arabia in oil production
No, BP, the U. S. did NOT surpass Saudi Arabia in oil production Even the paper of record for the oil industry, Oil & Gas Journal, got it wrong. With the release of the latest BP Statistical Review of World Energy, media outlets appeared to be taking dictation rather than asking questions about which countries produced the […]
Canadian Economy More Damaged By Oil Prices Than Expected
Canadian Economy More Damaged By Oil Prices Than Expected Canada’s oil industry has had a rough couple of months with production and exports taking a hit. Low oil prices are cutting into the profits of major producers. Producing from Alberta’s oil sands is costly and requires a high oil price to justify the expense. In […]
Oil and Arctic Ocean Make A Highly Troublesome Mix
Oil and Arctic Ocean Make A Highly Troublesome Mix As the U.S. and Russia take the first halting steps to drill for oil and gas in the Arctic Ocean, experts say the harsh climate, icy seas, and lack of any infrastructure means a sizeable oil spill would be very difficult to clean up and could cause […]
Mexico and American Oil Companies Want a Crude Swap to Open Loophole in the Oil Export Ban
Mexico and American Oil Companies Want a Crude Swap to Open Loophole in the Oil Export Ban As politicians from oil-producing states work to draw up bills to end the ban on oil exports, Mexican officials are “confident” that the country will soon be importing American crude through a backdoor loophole in the law. Back in January, […]
Delayed gratification for OPEC, more pain for investors
Delayed gratification for OPEC, more pain for investors Delayed gratification is said to be a sign of maturity. By that standard OPEC at age 55 demonstrated its maturity this week as it left oil production quotas for its members unchanged. It did so in the face of oil prices that are about 40 percent lower than they […]
Global Oil Shortage Before Year’s End? Surely Not…
Global Oil Shortage Before Year’s End? Surely Not… Now that OPEC has left its production quota unchanged, the world will continue to see a glut in supplies, right? Some analysts aren’t so sure. Sanford C. Bernstein predicts that by the end of the year global demand will outstrip supply by an estimated 1.5 million barrels per day. […]
OPEC is frying bigger fish than just Canada’s oilsands
OPEC is frying bigger fish than just Canada’s oilsands OPEC keeping the taps wide open, letting Saudi Arabia pick off many birds with one stone OPEC’s masterminding of the world oil market is leaving Canada to wonder where exactly our reeling energy industry fits within the scheme of the cartel’s strategic thinking. By leaving its production […]
Renewable Energy Will Not Support Economic Growth
Renewable Energy Will Not Support Economic Growth Container terminal image via shutterstock. Reproduced at Resilience.org with permission. The world needs to end its dependence on fossil fuels as quickly as possible. That’s the only sane response to climate change, and to the economic dilemma of declining oil, coal, and gas resource quality and increasing extraction costs. […]
Price Manipulation In The Oil Markets?
Price Manipulation In The Oil Markets? According to Reuters, Arcadia Petroleum Ltd, and its Parnon Energy unit have settled a $16.5 million civil suit filed against them for manipulating futures prices. This comes after a prior settlement with the US Commodities Futures Trading Commission whereby both entities were banned for trading futures for three years. […]
Revolution? More like a crawl
Revolution? More like a crawl The energy visionary Vaclav Smil — Bill Gates’s favorite author — says that when our leaders promise quick energy transformations, they’re getting it very wrong. America in 2015 finds itself almost in a new energy reality. It recently became the world’s second–largest extractor of crude oil, and since 2010 has been the leading producer of natural gas, whose abundant and inexpensive […]
OPEC according to the EIA
OPEC according to the EIA OPEC publishes monthly production data for all OPEC nations in their Monthly Oil Market Report. The data crude oil production only and does not include condensate. I have found the data to be highly accurate and any errors are corrected in the next month’s report or the month following that. The […]
