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Team Australia to pay billions for new oil-vulnerable infrastructure
Team Australia to pay billions for new oil-vulnerable infrastructure. One would think that an increase of oil related taxes would be used to reduce oil dependency and fund public transport infrastructure, especially as the Iraq war has entered yet another critical phase. Not in Australia. The government in Canberra has taken advantage of lower oil […]
Why Oil Prices Are About To Settle
Why Oil Prices Are About To Settle. If you are paying attention, you will be aware that oil prices have been falling dramatically since the end of June, losing over 20 percent from the highs at that time. This is bad news for investors in the energy sector and for the companies that produce the […]
The End of the Crisis for Now: America Is Awash in Energy
The End of the Crisis for Now: America Is Awash in Energy. Across America, something unusual is happening on main streets, in suburban strips, and at country stores: workers are lowering the prices on the signs for gasoline. Veterans of the energy crisis that began in 1973 and has continued, with perturbations, ever since, are […]
Andrew Nikiforuk Breaks Down the Global Oil Price Slump | The Tyee
Andrew Nikiforuk Breaks Down the Global Oil Price Slump | The Tyee. The dramatic slump in global oil prices has, as usual, caught governments, industry and markets off guard. In fact, Brent oil prices, a global standard, have dropped by 25 per cent since last June. Given the chaos in Iraq, Syria, Libya and the […]
WTI Crude Tumbles Under $80 Following Goldman Downgrade | Zero Hedge
WTI Crude Tumbles Under $80 Following Goldman Downgrade | Zero Hedge. While large shifts in positioning precipitated a sell-off in oil prices that far exceeded the actual weakening in fundamentals, Goldman Sachs’ confidence in a 2015 oversupplied global oil market has increased. As a result, they have brought forward their medium-term bearish oil outlook (WTI crude […]
Energy Economics – Crash Course Chapter 19 | Peak Prosperity
Energy Economics – Crash Course Chapter 19 | Peak Prosperity. The central point to this latest video is this: as we’ve shown in previous chapters of the Crash Course, our global economy depends on continual growth to function. And not just any kind of growth; but exponential growth. But in order to grow, it must receive an […]
RESOURCE CRISIS: Oil prices keep going down, but this is not good news
RESOURCE CRISIS: Oil prices keep going down, but this is not good news. There is plenty of movement in the oil world: after five years of relatively stable prices, the legendary“barrel” is coming down from over $ 100 to under 90, and it looks like it will keep falling. What’s happening?Has anyone found new resources? Or is it Saudi Arabia using the “oil weapon” to bring down Russia, the heir of the old “evil empire”? In reality, […]
Our Finite World | Exploring how oil limits affect the economy
Our Finite World | Exploring how oil limits affect the economy. A person might think that oil prices would be fairly stable. Prices would set themselves at a level that would be high enough for the majority of producers, so that in total producers would provide enough–but not too much–oil for the world economy. The […]
Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge
Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge. Saudi Arabia, it appears, had enough of shooting itself in the foot for its American ‘partners’, and has admitted for the first time that it slashed supply in September. As Bloomberg reports, OPEC’s biggest producer cut supply to mkt by 328k b/d in […]
Plunging oil prices a game-changer for major pipeline projects | Jeff Rubin
Plunging oil prices a game-changer for major pipeline projects | Jeff Rubin. A sharp correction in oil prices is putting the debate around major pipeline projects, such as Keystone XL, into a more nuanced light. Part of the impetus behind constructing new pipelines to carry bitumen from northern Alberta to the U.S. Gulf Coast, Kitimat […]
Oil Shocks And The Global Economy
Oil Shocks And The Global Economy. Here I re-tread a well-trodden path, but with recent events in the oil market I thought a brief recap might be timely. I begin with a photographic illustration of a typical US demand response to the tripling of oil prices that occurred during the first “oil shock” in 1974: […]
Meanwhile, This Is Who Is Quietly Buying All The Cheap Oil | Zero Hedge
Meanwhile, This Is Who Is Quietly Buying All The Cheap Oil | Zero Hedge. With the US Shale Oil industry up in arms, Venezuela screaming, and Russia awkwardly quiet (as the Ruble slides with the falling oil price stabilizing domestic inflows), the ‘secret’ Saudi-US oil dealthat pressured prices for crude down to $80 (18-month lows today) has ‘hurt’ a […]
Low Oil Prices Hurting U.S. Shale Operations
Low Oil Prices Hurting U.S. Shale Operations. Slumping oil prices are putting pressure on U.S. drillers. The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of […]
Peak oil review – Oct 20
Peak oil review – Oct 20. 1. Oil and the Global Economy Oil prices continued to fall through Thursday when New York futures traded below $80 a barrel and London as low as $82.60. Prices then rebounded to close Friday at $82.75 in NY and $86.15 in London. As has been the case for several weeks, the 25 percent […]
STREETTALK LIVE – The Daily X-Change – Houston, We Have A “Fracking” Problem
STREETTALK LIVE – The Daily X-Change – Houston, We Have A “Fracking” Problem. Last week, I touched on the issue of oil prices and demand stating: “First, the development of the “shale oil” production over the last five years has caused oil inventories to surge at a time when demand for petroleum products is on the decline […]
