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Crude Conspiracies? Data Suggest Nations Do Go to War Over Oil
Crude Conspiracies? Data Suggest Nations Do Go to War Over Oil The “thirst for oil” is often put forward as a near self-evident explanation behind military interventions in Libya, for instance, or Sudan. Oil, or the lack of oil, is also said to be behind the absence of intervention in Syria now and in Rwanda […]
Why Oil Won’t Go Below $40
Why Oil Won’t Go Below $40 When I made my energy predictions for 2015, I made some very aggressive predictions. Perhaps the most aggressive was that the closing price of West Texas Intermediate would not fall below $40/barrel (bbl) in 2015. Why do I consider this a particularly aggressive prediction? Because on the day I made […]
THE WORLD AFTER CHEAP OIL
THE WORLD AFTER CHEAP OIL Rauli Partanen, Harri Paloheimo, and Heikki Waris Reviewed by Frank Kaminski Toward the end of this book, its authors make an astute, if self-deprecating, observation about its potential merits. They’ve been discussing how innate human biases cause us to make cognitive errors when trying to make sense of world crises. […]
Charts showing the long-term GDP-energy tie (Part 2 – A New Theory of Energy and the Economy)
Charts showing the long-term GDP-energy tie (Part 2 – A New Theory of Energy and the Economy) In Part 1 of this series, I talked about why cheap fuels act to create economic growth. In this post, we will look at some supporting data showing how this connection works. The data is over a very long time […]
U.S. Supply Growth To Halt This Summer
U.S. Supply Growth To Halt This Summer Everyone knows it by now but the growth in domestic US oil production has been truly astonishing. Spurred on by high oil prices and easy credit, oil companies in Texas and North Dakota have been drilling like crazy and the result has been an inexorable rise in US […]
Oil Plunges, Inventories Soar to Record, Glut Gets Worse
Oil Plunges, Inventories Soar to Record, Glut Gets Worse Crude oil had rallied 20% in three days, with West Texas Intermediate jumping $9 a barrel since Friday morning, from $44.51 a barrel to $53.56 at its peak on Tuesday. “Bull market” was what we read Tuesday night. The trigger had been the Baker Hughes report […]
Oil from 2010 BP spill found at the bottom of the Gulf of Mexico
Oil from 2010 BP spill found at the bottom of the Gulf of Mexico A new study suggests that up to 38 million liters of crude oil from the 2010 BP oil spill is resting on the seafloor of the Gulf of Mexico, posing a threat to the local ecosystem. The findings have shed light on where […]
Essential Oil Production Statistics – February 2015
Essential Oil Production Statistics – February 2015 This is the second in a monthly series of posts chronicling the action in the global oil market in 12 key charts. The January 2015 post is here. EIA oil price and Baker Hughes rig count charts are updated to end January 2015, the remaining oil production charts are updated to December 2014 […]
Oil Majors’ Profits Take A Beating
Oil Majors’ Profits Take A Beating The first quarterly earnings reports since the collapse of oil prices are in and the numbers show a significant deterioration in profits for the oil majors. Royal Dutch Shell went first on January 29, revealing a big jump from the same quarter a year ago, but down from the third quarter […]
What The Rig Plunge Really Means For The Price Of Oil
What The Rig Plunge Really Means For The Price Of Oil Arguably the biggest catalyst for the surge in crude, in addition to the technical move which started off with a vicious short squeeze into the NYMEX close last Friday, was last week’s record drop in the Baker Hughes rig count to 1,223, down from […]
Slump in Oil Prices Brings Pressure, and Investment Opportunity
Slump in Oil Prices Brings Pressure, and Investment Opportunity Now, as the cracks appear in the latest energy boom, the forces of failure and opportunity are stirring again. Resolute Energy, a Colorado company that borrowed big in the boom, is among those in an endgame that is being played up and down Wall Street and […]
Peak Affordable Oil
…click on the above link to read the rest of the article… It is quite obvious that high oil prices in the last 3-4 years Fig 1: WTI spot prices to 23/1/2015 http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=rwtc&f=w have reduced demand for oil, as shown in this IEA graph for OECD countries: Fig 2: Oil demand in OECD countries Oct […]
Commodities crash: Bad news for the world economy, but is anyone listening?
Commodities crash: Bad news for the world economy, but is anyone listening? Reading the general run of financial headlines might lead one to believe that price declines in those commodities which are highly sensitive to economic conditions such as iron ore, copper, oil, natural gas, coal, and lumber are good on their face. Obviously, the declines aren’t good for those who sell these commodities. […]
Can Saudi Arabia Diversify Away From Oil?
Can Saudi Arabia Diversify Away From Oil? The Saudi government hopes new special economic zones can spur foreign investment and lessen the Kingdom’s reliance on oil. Regulatory reforms are needed, however, to convince foreign firms that Saudi Arabia has more to offer than just cheap energy. Just off the coast of the Red Sea, about […]
Oil Rig Count Plunges Most Ever, Oil Price Soars, Inventories Too: Catch Falling Knife, Get Fingers Sliced Off
Oil Rig Count Plunges Most Ever, Oil Price Soars, Inventories Too: Catch Falling Knife, Get Fingers Sliced Off The oil industry is dead-serious when it talks about slashing operating cost and capital expenditures. They have to. Preserving cash is suddenly a priority, after years when money was growing on trees. In the US, the cost […]
