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U.S. Department of Energy Doubles Down on Shale Optimism
U.S. Department of Energy Doubles Down on Shale Optimism The U.S. stock market is not the only thing that’s gotten overheated in the last few years. Exuberance over U.S. energy output has hit a record high as natural gas production has reached its all-time peak, and oil production nears highs not seen in 47 years. […]
EIA estimates for USA in 2050: The Future is Fossil Fuels and Cheap Electricity
EIA estimates for USA in 2050: The Future is Fossil Fuels and Cheap Electricity What energy transformation? The EIA Annual Energy Outlook 2018 is out. The hard heads at the US Dept of Energy crunched the numbers, assumed technology will improve, and modeled the outcomes. According to their best estimates (and even their “worst” estimates) […]
U.S. Shale Companies Are Ready To Expand
U.S. Shale Companies Are Ready To Expand The latest oil rally, which sees crude trading at close to its highest point in three years, is sufficient to garner considerable attention from market pundits, industry insiders and investors alike. It has raised the ugly specter of a sharp uptick in U.S. oil production driven by the […]
Why the New EIA Forecast Is Unrealistic
Why the New EIA Forecast Is Unrealistic The Energy Information Administration (EIA) of the U.S. Department of Energy has just released its Annual Energy Outlook (AEO) 2018, with forecasts for American oil, gas and other forms of energy production through mid-century. As usual, energy journalists and policy makers will probably take the document as gospel. […]
Why Oil Prices Could Dive
Why Oil Prices Could Dive WTI briefly touched $65 per barrel after the EIA reported a surprise drawdown in inventories — the highest price since late 2014. Although the rally hit some stumbling blocks in recent days, prices remain at multi-year highs. However, absent further bullish news, the downside risk looms large. One of the […]
What Could Push Oil To $100?
What Could Push Oil To $100? If anyone thought the latest oil market outlooks of the EIA and the IEA are upbeat, here’s an even more upbeat one from Energy Aspects: The consultancy expects crude demand this year to grow by 1.7 million bpd, and says Brent could touch above $100 a barrel in 2019. […]
What’s The Limit For Permian Oil Production?
What’s The Limit For Permian Oil Production? The ‘hottest shale play’ has been the media’s favorite cliché for the Permian Basin over the past year. And while cliché, the basin straddling West Texas and New Mexico has lived up to this description—its oil production, unlike that in other basins, did not fall off a cliff […]
New NASA Study Solves Climate Mystery, Confirms Methane Spike Tied to Oil and Gas
New NASA Study Solves Climate Mystery, Confirms Methane Spike Tied to Oil and Gas Over the past few years, natural gas has become the primary fuel that America uses to generate electricity, displacing the long-time king of fossil fuels, coal. In 2019, more than a third of America’s electrical supply will come from natural gas, […]
Is An Oil Price Spike Inevitable?
Is An Oil Price Spike Inevitable? The oil glut is over, at least when it comes to U.S. commercial inventories: over the past two months they have been within the average range for the season, thanks to hefty draws. These draws, one analyst argues, are a signal of higher-than-expected demand that is not only an […]
Momentous Change in US Natural Gas, with Global Impact
Momentous Change in US Natural Gas, with Global Impact Even China is buying U.S. LNG. In 2017, the US became a net exporter of natural gas for the first time. It started small in February, when the US exported 1 billion cubic feet more than it imported. By October, the last month for which data from […]
Is Oil About To Collapse?
Is Oil About To Collapse? When writing about markets, here and elsewhere, I usually try to avoid the temptation to write sensational things. Words like “collapse” and “crash”, or “surge” and “explode” attract clicks, which in turn often translates to cash for a writer, but major events like that are rare. That is all fine […]
Is The EIA Overestimating The U.S. Shale Boom?
Is The EIA Overestimating The U.S. Shale Boom? The American shale boom may be overstated by the U.S. Energy Department, according to a new MIT study that suggests the agency may be over-attributing a rise in shale drilling to technological advances. “The EIA is assuming that productivity of individual wells will continue to rise as […]
US Demand for Electricity Falls Further: What Does it Mean?
US Demand for Electricity Falls Further: What Does it Mean? Layoffs at GE Power, for example. The weekend started Friday night with layoff news from GE’s power division, in two locations. First, there was Greenville County, South Carolina, where GE Power is one of the largest employers with 3,400 workers. “Based on the current challenges […]
