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Is Natural Gas As Clean As We Think?
Is Natural Gas As Clean As We Think? This week U.S. President Barack Obama took aim at the American coal industry as part of a comprehensive climate change plan to limit air emissions from what many consider the country’s worst polluter. Under the plan, states will have until 2030 to cut CO2 levels by a third from […]
The Saudi Oil Price War Is Backfiring
The Saudi Oil Price War Is Backfiring Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. The Saudis have […]
Global Oil Supply More Fragile Than You Think
Global Oil Supply More Fragile Than You Think Many oil companies had trimmed their budgets heading into 2015 to deal with lower oil prices. But the rebound in April and May to $60 per barrel from the mid-$40s suggested that the severe drop was merely temporary. But the collapse of prices in July – owing […]
EPA’s Clean Power Plan Tougher Than Expected
EPA’s Clean Power Plan Tougher Than Expected The Obama administration unveiled a much-anticipated, controversial rule on the regulation of greenhouse gases from power plants on August 3. The first-of-their-kind limits on carbon pollution from existing power plants will actually require slightly tougher cuts than the original proposal. The EPA is calling for a 32 percent reduction in […]
Layoffs Surge As Oil Price Outlook Remains Sober
Layoffs Surge As Oil Price Outlook Remains Sober Lately the leaders of some of the world’s biggest energy companies have been saying oil prices will remain depressed for some time – perhaps for the next five years – and now they’ve decided to cut their costs in the most painful way possible: massive job cuts. […]
Recession Risk Mounting For Canada
Recession Risk Mounting For Canada The latest economic data from Canada shows that it is inching towards recession, after its economy posted its fifth straight month of contraction. Statistics Canada revealed on July 31 that the Canadian economy shrank by 0.2 percent on an annualized basis in May, perhaps pushing the country over the edge into recessionary […]
A Reality Check For U.S. Natural Gas Ambitions
A Reality Check For U.S. Natural Gas Ambitions Something unusual happened while we were focused on the global oil-price collapse–the increase in U.S. shale gas production stalled (Figure 1). Figure 1. U.S. shale gas production. Source: EIA and Labyrinth Consulting Services, Inc. (click image to enlarge) Total shale gas production for June was basically flat […]
Where In The World Is The Shale Gas Revolution?
Where In The World Is The Shale Gas Revolution? As it stands the global shale gas revolution is missing in action. To be sure, its impact in the United States – and the subsequent ripple worldwide – was nothing short of game-changing, but the wave of enthusiasm has yet to produce substantial results outside of […]
Has The E&P Industry Lost Touch With Reality?
Has The E&P Industry Lost Touch With Reality? The U.S. rig count increased by 19 this week as oil prices dropped below $48 per barrel–the latest sign that the E&P industry is out of touch with reality. Getty Images from The New York Times (July 26, 2015) The last time the rig count increased this […]
Will ‘Corner Office Syndrome’ Be The Downfall Of Canada’s Oilfield Services?
Will ‘Corner Office Syndrome’ Be The Downfall Of Canada’s Oilfield Services? No sector of the economy should be considering the urge to merge more than Canada’s beleaguered oilfield services (OFS) business. The signals are powerful: overcapacity in virtually every product and service line; prices down to slimmest of margins; bankers are unhappy and getting twitchy; […]
Saudis Expand Price War Downstream
Saudis Expand Price War Downstream The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. As if being the world’s biggest exporter of oil was not enough, the […]
This Is Why A Serious Decline In U.S Shale Plays Is Not Far Away
This Is Why A Serious Decline In U.S Shale Plays Is Not Far Away The plunge in oil prices last year led many to say that a decline in U.S. oil production wouldn’t be far behind. This was because almost all the growth in U.S. production in recent years had come from high-cost tight oil […]
Toxic Waste Sullies Solar’s Squeaky Clean Image
Toxic Waste Sullies Solar’s Squeaky Clean Image Toxic sludge and filthy air – byproducts of the oil and coal industries – are a constant irritant for opponents and even proponents of fossil fuels, while renewables like wind and solar are often seen as bastions of rectitude for their relative cleanliness. However, before the proponents of […]
This Is Why The U.S May Actually Not Be The No.1 Oil Producer
This Is Why The U.S May Actually Not Be The No.1 Oil Producer According to the recently-released BP (NYSE: BP) Statistical Review of World Energy 2014, the U.S. was the world’s largest and most diverse energy producer in 2014. The Statistical Review ranked the U.S.: #1 in oil production #1 in natural gas production #1 in nuclear power […]
Natural Gas Needs To Clean Up Its Act
Natural Gas Needs To Clean Up Its Act To call natural gas ‘clean’ would be a misnomer. Natural gas is a fossil fuel that emits carbon dioxide when burned and is an important contributor to climate change. The general consensus, however, is that when compared to oil (and petroleum products) or coal, natural gas it is by […]
