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Hurricane Harvey Is A Disaster For OPEC
Hurricane Harvey Is A Disaster For OPEC The skies are clearing over Houston, but the damage from the remaining elements of Hurricane Harvey has spread east to Port Arthur and Lake Charles along the Texas-Louisiana border. That has knocked more refineries offline, including the largest refinery in the United States. In the aftermath of the […]
How Long Can U.S. Refineries Remain Offline?
How Long Can U.S. Refineries Remain Offline? When Hurricane Harvey blew into Texas last weekend, it dumped more than 30 inches of rain, flooding Houston and large areas of southeastern Texas, while leaving thousands homeless or without power. The worst storm to hit the U.S. since 2004 and by some estimates the largest rain-storm in […]
Two U.S. Utility Giants Just Got Even Larger
Two U.S. Utility Giants Just Got Even Larger Two major electricity industry takeovers were announced within a few days of each other. Energy Capital Partners, a private equity firm, announced its planned acquisition of Calpine, the nation’s largest generator of electricity using natural gas as a fuel. The acquisition valued Calpine at $17.3 billion ($5.6 […]
Forget OPEC, China Controls Oil Prices
Forget OPEC, China Controls Oil Prices U.S. shale has taken a lot of headline space recently as the biggest headwind for oil prices and the highest stumbling block for OPEC’s efforts to prop them up by cutting production. Yet, there may be another factor that could bring down oil prices as soon as next year… […]
The Latest Red Flag For U.S. Shale
The Latest Red Flag For U.S. Shale The U.S. shale industry has had a rough few weeks, with a growing number of reports suggesting that the industry is facing much more financial trouble than many analysts had expected. Now, a new report adds further evidence to the notion that shale is losing its luster in […]
What Would A U.S. Civil War Look Like?
What Would A U.S. Civil War Look Like? Yes, there is a civil war looming in the United States. But it will not look like the orderly pattern of descent which characterized the conflict of 1861-65. It will appear more like the Yugoslavia break-up, or the Russian and Chinese civil wars of the 20th Century. It […]
Will EV’s Break The Grid?
Will EV’s Break The Grid? While the UK government has vowed to end the sale of all new conventional gasoline and diesel cars by 2040, as part of a wider plan to fight air pollution, there is talk that electricity demand will lead to a fast and dirty response to a strained power grid. But […]
The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks
The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines. Saudi Aramco CEO Amin Nasser, while addressing the World Petroleum Congress in Istanbul, stated that the outlook for oil […]
Will Central Banks Derail The Shale Boom?
Will Central Banks Derail The Shale Boom? The U.S. Federal Reserve has already increased interest rates several times, most recently in June, with promises to do much more. Rate hikes pose a problem for the oil industry, which has used debt to underpin a drilling boom across the U.S. shale patch. Higher rates could raise […]
Oil Industry To Waste Trillions As Peak Demand Looms
Oil Industry To Waste Trillions As Peak Demand Looms ExxonMobil and its peers risk blowing $2.3 trillion on oil projects that will not be needed if the world hits peak demand in the next decade. A new report from The Carbon Tracker Initiative analyzed what would happen if the oil market saw demand peak by […]
What’s Wrong With The U.S. Oil Export Boom
What’s Wrong With The U.S. Oil Export Boom The lead editorial in Friday’s Wall Street Journal was pure energy nonsense.’ “Lessons of the Energy Export Boom” proclaimed that the United States is becoming the oil and gas superpower of the world. This despite the uncomfortable fact that it is also the world’s biggest importer of […]
Not OPEC, China Dictates The Oil Prices
Not OPEC, China Dictates The Oil Prices The OPEC deal will lead to an ongoing tightening of the crude oil market, putting a floor beneath crude prices in the $50s per barrel in the second half of 2017, according to Helima Croft of RBC Capital Markets. She said that prices should ultimately “grind higher into […]
Saudi Power Struggle Could Destabilize The Entire Middle East
Saudi Power Struggle Could Destabilize The Entire Middle East Political instability in Saudi Arabia is growing as King Salman bin Abdulaziz begins to overhaul the Saudi government, putting a long list of family members into positions of influence while increasing the power of his son, Deputy Crown Prince Mohammad bin Salman. These actions have the […]
Do Saudi Arabia And Russia Really Want Higher Oil Prices?
Do Saudi Arabia And Russia Really Want Higher Oil Prices? The jawboning of oil prices by the Saudi Arabian/Russian tag team should be wearing off after more than a year of actions that don’t measure up to the words. Oil prices slumped recently, dropping from around $54 per barrel to just below $50 as of […]
Wall Street Is Pouring Money Back Into Shale
Wall Street Is Pouring Money Back Into Shale With oil prices seemingly on firm footing, Wall Street is pouring money back into the shale sector, expecting profits even at $50 per barrel. The private equity industry raised an estimated $19.8 billion in funds for energy investment in the first quarter of this year, or about […]
