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Tag Archives: oil
Lipstick on a pig: America as the world’s swing producer of oil
Lipstick on a pig: America as the world’s swing producer of oil Most people have heard the old saying: “You can put lipstick on a pig. But it’s still a pig.” That’s sort of what is happening in the American oil patch as producers try to put a positive gloss on the devastation that low […]
WTI Plunges To $42 Handle On Massive API Inventory Build
WTI Plunges To $42 Handle On Massive API Inventory Build For what appears to be the 10th week in a row, API reports amassive 10.5 million barrels (far bigger than the 3.1 million barrel expectation) and a 3 million barrel build at Cushing. If this holds for DOE data tomorrow (and worryingly API has tended to […]
WTI Slumps To New Cycle Lows As Iran Supply Fears Loom
WTI Slumps To New Cycle Lows As Iran Supply Fears Loom Just a few short days ago we were the first to bring attention to the potential of an Iran nuclear deal being a catalyst for the next big leg lower in the energy complex and sure enough, not only is the market startuing to leg lower […]
Oil Plunges To Lowest Since March 2009 ($43 WTI) As EURUSD 1.05 Battle Continues
Oil Plunges To Lowest Since March 2009 ($43 WTI) As EURUSD 1.05 Battle Continues Update: *WTI CRUDE TRADES AT LOWEST INTRADAY PRICE SINCE MARCH 2009 – $43.57 Despite ‘trouble’ in Saudi Arabia, and chatter of SPR buying, it appears the re-opening of all Houston shipping channels, comments from Greenspan, yet another refinery shut (Exxon’s Joliet […]
Analysis: What Bill C-22 Means For Oil Spill Cleanup in Canada
Analysis: What Bill C-22 Means For Oil Spill Cleanup in Canada After BP’s Deepwater Horizon well blowout in April 2010, responders dumped approximately 1.84 million gallons of chemical dispersants into the Gulf of Mexico in an effort to stop the oil slick from fouling fragile coastal environments. The use of such a massive quantity of dispersants, coupled […]
Oil wars: Shifting balance of power?
Oil wars: Shifting balance of power? What impact are lower global oil prices having on the world’s geopolitical landscape? Global oil policies are becoming ever more complex as suppliers balance their needs, priorities and self-interests. A period of low prices is redefining the geopolitical landscape, and bringing international relations into sharp focus. The price of crude […]
The Science of Peak Oil
The Science of Peak Oil One of the many barbs often pointed at peak oil proponents is that they are constantly shifting the goal posts. Peak oilers are accused of changing the definition of what peak oil actually means, therefore the entire concept of oil production peaking is rubbish. Far from a valid criticism however, this […]
Saudi Exec Expects $1 Trillion Drop In Energy Investments
Saudi Exec Expects $1 Trillion Drop In Energy Investments A high-ranking Saudi Aramco executive says the plunge in energy prices already has caused many in the industry to cut spending on oil and gas projects, and the trend probably will continue for a few years, perhaps reaching a cut of $1 trillion in investments. “Challenges […]
Dollars are worthless without crude oil
Dollars are worthless without crude oil In my previous post I drew some parallels between energy and money – and more specifically, energy and banking – and pointed out that when money is at stake, the presence of energy is likely lurking somewhere in the shadows. It was mostly hypotheses and observations I was throwing around about […]
US May Run Out Of Oil Storage Space As Soon As June
US May Run Out Of Oil Storage Space As Soon As June On Sunday, we noted that the economics of the floating storage play could spell further declines for crude prices. With a global stock increase that’s some 3 times larger than that which occurred during the last period of oversupply, expect cheap, on-land storage to prove […]
Tar Sands by Rail Disasters: The Latest Wave in the Bomb Train Assault
Tar Sands by Rail Disasters: The Latest Wave in the Bomb Train Assault With the first crash and explosion of aunit train of tar sands oil in Canada in February, we learned that the conventional wisdom among people covering the oil-by-rail industry regarding the flammability of tar sands oil has been dead wrong. A second derailment and […]
Oil Price Faces Another 20% Drop Due To Contango Math
Oil Price Faces Another 20% Drop Due To Contango Math Want to know where oil prices are headed? You need to understand the economics of the floating storage play, Soc Gen says. As we noted on Friday, retail investors looking to be the next Jed Clampett have piled into the U.S. Oil fund over the past several months, […]
Rig Count Decline Re-Accelerates To 2nd Biggest Drop In 22 Years
Rig Count Decline Re-Accelerates To 2nd Biggest Drop In 22 Years Following last week’s slowing in the pace of rig count, crude prices dropped and then spiked, and it makes today’s data under more scrutiny. At around $49.50, WTI prices have round-tripped back almost perfectly to the scene of the crime before today’s rig count […]
The Paradox of Oil: The Cheaper it is, the More it Costs
The Paradox of Oil: The Cheaper it is, the More it Costs There will be oil, but at what price? – Chris Nelder and Gregor Macdonald 1. Introduction It would be fair to say that the timing of the sudden drop in the price of oil since June 2014 took energy and financial analysts […]
Where Have All The Rigs Gone?
Where Have All The Rigs Gone? Baker Hughes publishes a weekly oil and gas rig count by producing basin. I have created charts of all the most productive basins in order that we can see where oil and gas rigs are increasing or decreasing. Their historic rig count, by basin, goes back 4 years. It needs […]
