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Is The End In Sight For Alaska’s Oil Based Economy?
Is The End In Sight For Alaska’s Oil Based Economy? Alaska has long been one of the few U.S. states without an income tax. Thanks to its incredible bounty of natural resources, the state had more than enough cash coming in through oil company taxes and especially Prudhoe Bay production. All of that is starting […]
Could A New Type Of Bike Solve India’s Electricity Problems
Could A New Type Of Bike Solve India’s Electricity Problems India has tremendous potential as an economic powerhouse of the future, but it also faces some significant development challenges. India’s population is on track to be the world’s most populated nation by 2022, surpassing even China. Yet India also has a considerably smaller carbon footprint than […]
Wildfire Nears Canada’s Major Oil Sands Plants
Wildfire Nears Canada’s Major Oil Sands Plants A massive wildfire raging through the northern part of Alberta has swelled in size and surged north of Fort McMurray, destroying an evacuated oil sands camp on Tuesday and it is projected to encroach on major facilities shortly. The flames consumed a 665-room oil-sands work camp north of […]
European Natural Gas Prices Collapse, as US Exporters Try to Muscle in on Russia, Norway, Qatar
European Natural Gas Prices Collapse, as US Exporters Try to Muscle in on Russia, Norway, Qatar US LNG exporters against the low-cost producers Oil and natural gas producers cannot catch a break of late it seems. A few years after the onset of the natural gas glut, Europe is experiencing a similar phenomenon with Russia […]
As Oil Markets Tighten, Geopolitical Events Matter Again
As Oil Markets Tighten, Geopolitical Events Matter Again Oil prices jumped on Thursday as surprise outages came from Canada and Libya, reversing several days of losses. WTI and Brent surged by more than 4 percent in early trading on May 5. The hellish wildfires sweeping swathes of Alberta near Fort McMurray forced the evacuation of tens of […]
A 4.5-Million-Barrel Per Day Oil Shortage Looms: Wood Mackenzie
A 4.5-Million-Barrel Per Day Oil Shortage Looms: Wood Mackenzie A report by Wood Mackenzie has warned the world may face a daily oil shortage of 4.5 million barrels by 2035. The amount represents around half of the global consumption estimate of the International Energy Agency (IEA) for 2016. In other words, a true crisis is looming—and for the moment, […]
Why Saudi Arabia Will Not Win The Oil Price War
Why Saudi Arabia Will Not Win The Oil Price War Crude oil prices continued to surprise on Tuesday, with the U.S. benchmark adding another 4 percent to $44.60 a barrel. West Texas Intermediate is now up 65 percent since hitting 13-year lows below $27 a barrel February 11. It’s a performance only bettered by the […]
China Stockpiling Oil At Highest Rate In Over A Decade
China Stockpiling Oil At Highest Rate In Over A Decade China might be in the midst of another round of stockpiling, stepping up crude oil imports to fill its strategic petroleum reserve (SPR). The slowdown in oil demand in China is one of the chief concerns regarding the state of oversupply in global oil markets. […]
This Six-Year Running Oil And Gas Trend Just Reversed Itself
This Six-Year Running Oil And Gas Trend Just Reversed Itself The U.S. Senate this week approved a bill to speed permitting of new liquefied natural gas (LNG) export facilities. Just as news from one of the world’s most important LNG consumers shows the market isn’t what it used to be. The place is Japan. Where statistics released […]
End Of An Era: Peabody Declares Bankruptcy
End Of An Era: Peabody Declares Bankruptcy In a sign of the times, the world’s largest private sector coal miner just went bankrupt. The St. Louis-based Peabody Energy Corp. warned a month ago that it was considering filing for Chapter 11 bankruptcy, and on Wednesday they made it official. Peabody’s mines will continue to operate uninterrupted […]
Why Low Oil Prices Haven’t Helped The Economy
Why Low Oil Prices Haven’t Helped The Economy Many analysts had anticipated that a dramatic drop in oil prices such as we’ve seen since the summer of 2014 could provide a big stimulus to the economy of a net oil importer like the United States. That doesn’t seem to be what we’ve observed in the […]
Canadian Oil Industry No Longer Sees Alberta Advantage
Canadian Oil Industry No Longer Sees Alberta Advantage “Who will stand up for Alberta’s persecuted billionaire community?” the headline of a popular political blog site sarcastically blared after the story broke last month about how wealthy and successful Calgary entrepreneur N. Murray Edwards had apparently relocated his residence to London for tax reasons. The article […]
Are The Saudis And Russians Deliberately Sabotaging Doha?
Are The Saudis And Russians Deliberately Sabotaging Doha? The actions and intentions of Saudi Arabia and Russia—the two largest oil-producing nations attending the Doha meeting on 17 April—have dashed all hopes of any fruitful outcome. The most important meeting of the last three decades, which has promised to forge new friendships and a new cartel, […]
Unfolding The World’s Biggest Oil Bribery Scandal
Unfolding The World’s Biggest Oil Bribery Scandal Last week, a sweeping investigative report published by The Huffington Post and Fairfax Media put a little known Monaco-based company, Unaoil, at the center of a wide-ranging bribery scandal that involved dozens of corporate giants from around the world. The article calls it the “world’s biggest bribe scandal.” After spending […]
Advantage U.S. In The Global Petroleum Showdown?
Advantage U.S. In The Global Petroleum Showdown? Is the crude stock data in the EIA’s Weekly Petroleum Status Report (Table 1 in the report) a useful tool for judging the prospects for the U.S. petroleum industry— and therefore for the global petroleum industry—or is it misleading? With few interruptions, U.S. crude stocks increased steadily during 2015 and […]
