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The Latest Oil Glut: Once Bitten, Twice Shy
The Latest Oil Glut: Once Bitten, Twice Shy It comes as little surprise that the author of a book entitled Snake Oil: How Fracking’s False Promise of Plenty Imperils Our Future is a critic of the natural gas industry and a proponent of peak oil theory. With the recent plunge in oil prices, it feels like the […]
The Biggest “Hamilton Oil Shock” In History
The Biggest “Hamilton Oil Shock” In History Slowly but surely, the narrative that plummeting oil prices is “unambiguously good” for the economy is fading into obscurity, as reality is starting to emerge. For the latest capitulation we go to the Bank of America chart of the day which shows that the current Hamilton Oil Shock […]
Russia And China’s Growing Energy Relationship
Russia And China’s Growing Energy Relationship Russia’s economic freefall and isolation from the West has made it increasingly eager to build its relationship with China, even at the cost of lost leverage with Beijing. But new economic data from China shows that Russia has succeeded in capturing a larger share of the massive – and […]
Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down
Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down Five years ago, I noted how unsustainable Canadian economic growth is fuelled by debt, which is leveraged to increase the prices–and ‘profitability’–of assets like oil holdings and real estate. It might as well be called “phantom growth,” because it’s bound to disappear […]
Study: Foreign Countries Intervene in Civil Wars 100 Times More Often when Afflicted Countries Have Oil
Study: Foreign Countries Intervene in Civil Wars 100 Times More Often when Afflicted Countries Have Oil The Independent reports that a new study conducted in the Universities of Portsmouth, Warwick and Essex, and published in the Journal of Conflict Resolution, finds that “hydrocarbons play an even bigger role in conflicts” than “conspiracy theorists” ever imagined. …foreign intervention in a […]
Why Oil Prices Will Be “Lower For Longer” In 3 Simple Charts
Why Oil Prices Will Be “Lower For Longer” In 3 Simple Charts History may not repeat… but it does rhyme! A pattern emerges – from investment to exploitation… It’s deja vu all over again… And it’s different this time… Source: Goldman Sachs
The Saudi Succession: Its Impact On Oil, Markets And Politics
The Saudi Succession: Its Impact On Oil, Markets And Politics As reported earlier, several hours ago Saudi Arabia announced that its 91-year-old King Abdullah had passed away, in the process setting off what may be a fascinating, and problematic, Saudi succession fight which impacts everything from oil, to markets to geopolitics, especially in the aftermath of […]
Oil-by-Rail Reality: Watch What Industry Does, Not What They Say
Oil-by-Rail Reality: Watch What Industry Does, Not What They Say “In the past month, there have been numerous public relations efforts suggesting that much is being done to improve oil by rail safety. Unfortunately, it seems these efforts will not involve much more than press releases and hollow promises.” Those words were first published on DeSmogBlog […]
Whiplash!
Whiplash! Over the course of 2014 the prices the world pays for crude oil have tumbled from over $125 per barrel to around $45 per barrel now, and could easily drop further before heading much higher before collapsing again before spiking again. You get the idea. In the end, the wild whipsawing of the oil […]
Oil Industry Withdraws From High Cost Areas
Oil Industry Withdraws From High Cost Areas The oil industry is pulling back from some marginal areas of operation, slashing jobs and spending, and retrenching in the face of the ongoing slump in oil markets. Signs of a shrinking footprint are beginning to pop up across the globe. Norway’s Statoil has let three of its […]
Dumb and Dumber: U.S. Crude Oil Export
Dumb and Dumber: U.S. Crude Oil Export Exporting crude oil and natural gas from the United States are among the dumbest energy ideas of all time. Exporting gas is dumb. Exporting oil is dumber. The U.S. imports almost half of the crude oil that we use. We import 7.5 million barrels per day. The chart below shows […]
Gail Tverberg: This Is The Beginning Of The End For Oil Production
Gail Tverberg: This Is The Beginning Of The End For Oil Production Why the shale collapse is ushering in a permanent turndown With the recent collapse in the price of oil, Gail Tverberg, returns to discuss the likely impact on the US shale oil industry, as well as the global market for oil. Gail is a professional […]
The Fed and the Price of Oil
The Fed and the Price of Oil Given the potential for financial losses triggered by oil’s price collapse to cascade into the financial sector at large, the Fed may well be forced to intervene either directly or indirectly. An email dialog with correspondent Mark G. last month alerted me to the key role the Federal […]
Why Governments Love Terrorism “Wars”
Why Governments Love Terrorism “Wars” Telltale Signs Dow down a little on Tuesday. Gold almost unchanged. Oil kept slipping. From Bloomberg: “Oil fell below $45 a barrel amid speculation that US stockpiles will increase, exacerbating a global supply glut that’s driven prices to the lowest in more than 5½ years. Oil slumped almost 50% last […]
Russia Cuts Off Ukraine Gas Supply To 6 European Countries
Russia Cuts Off Ukraine Gas Supply To 6 European Countries Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas. Due to these “transit risks for European consumers in the territory of Ukraine,”Gazprom cut gas […]
