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World’s No.1 Oil Trader: U.S. To See Final Oil Output Spike In 2018
World’s No.1 Oil Trader: U.S. To See Final Oil Output Spike In 2018 The best is yet to come for US oil production—but it will be a short-lived hurrah, according to Ian Taylor, head of oil trading giant Vitol. US oil production has steadily increased throughout 2017 as US drillers regained their footing after the […]
Energy and Authoritarianism
Energy and Authoritarianism Could declining world energy result in a turn toward authoritarianism by governments around the world? As we will see, there is no simple answer that applies to all countries. However, pursuing the question leads us on an illuminating journey through the labyrinth of relations between energy, economics, and politics. The International Energy […]
U.S. Shale’s Most Productive Play May Peak By 2021
U.S. Shale’s Most Productive Play May Peak By 2021 The world’s top shale play, the Permian, has shown remarkable resilience amid the lower-for-longer oil prices. Permian production has grown and should continue its rise into the foreseeable future. Technological advances spurred the rapid rise of the Permian, but as drillers are set to continuously develop […]
China To Dictate Energy Growth In Coming Years
China To Dictate Energy Growth In Coming Years Natural gas, renewables expected to grow significantly The EIA released this year’s International Energy Outlook today, outlining expected trends in energy through 2040. The International Energy Outlook predicts that total world energy consumption will grow by 28 percent between 2015 and 2040, primarily driven by non-OECD countries. Non-OECD Asia […]
WTI/RBOB Sink After Big Crude Build, Production Jump Offsets Greatest Gasoline Inventory Draw In History
WTI/RBOB Sink After Big Crude Build, Production Jump Offsets Greatest Gasoline Inventory Draw In History WTI and RBOB prices are higher this morning following API’s reported the biggest gasoline draw in history (compared to EIA data). Of course, disruptions (Florida demand and Texas supply) remain dominant but DOE reports a massive 8.4mm draw in Gasoline […]
How EIA Guestimates Keep Oil Prices Subdued
How EIA Guestimates Keep Oil Prices Subdued The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks. The monthly EIA oil production figures tend to be more accurate than the weekly estimates, although they are published […]
Why The Shale Oil “Miracle” Is Becoming A “Debacle”
klublu/Shutterstock Why The Shale Oil “Miracle” Is Becoming A “Debacle” Dispelling the magical thinking behind the hype Energy is everything. This is an amazingly important concept. Yet it’s almost universally overlooked. Sometimes it’s hard to appreciate the magical role energy plays in our daily lives because most of what we experience is a derivative of […]
Biggest Gasoline Glut In 27 Years Could Crash Oil Markets
Biggest Gasoline Glut In 27 Years Could Crash Oil Markets Oil prices are stuck in a holding pattern, waiting for more definitive data on what comes next. OPEC compliance is helping keep prices afloat, but rising U.S. oil production is acting as a counterweight. A new problem that has suddenly emerged is the record levels […]
Risk, double-edged swords and imagining the worst
Risk, double-edged swords and imagining the worst A friend of mine recently said that intellectual honesty often requires imagining the worst. Of course, in the study of climate change and natural resources one needs only to read the analyses of scientists to imagine the worst. Imagining the worst in not necessarily the same as believing the […]
Oil Production Vital Statistics December 2016
Oil Production Vital Statistics December 2016 Global total liquids production hit yet another record high of 98.24 Mbpd in November led by OPEC and Russia! Libya’s drive to restore production is a significant factor with production up 280,000 bpd from recent lows. The US oil rig count has risen for 32 consecutive weeks and US […]
Huge Decline In U.S. Proved Oil And Gas Reserves
Huge Decline In U.S. Proved Oil And Gas Reserves Proved oil and gas reserves down 11.8 percent and 16.6 percent, respectively, from year-end 2014 EIA has downgraded its estimates of proved oil and gas reserves in the U.S., according to its Crude Oil and Natural Gas Proved Reserves, Year-end 2015 report, released today. Proved reserves of […]
