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Putting the Real Story of Energy and the Economy Together
Putting the Real Story of Energy and the Economy Together What is the real story of energy and the economy? We hear two predominant energy stories. One is the story economists tell: The economy can grow forever; energy shortages will have no impact on the economy. We can simply substitute other forms of energy, or do […]
Rig Count Data Shows Gulf States Cranking Up Pressure On The U.S.
Rig Count Data Shows Gulf States Cranking Up Pressure On The U.S. The global rig count statistics published by Baker Hughes provide a crucial industry activity indicator and some of the most up to date industry statistics available. This is a short report updating international statistics to March 2015 and US statistics to 10 April 2015. Figure […]
Top 12 Media Myths On Oil Prices
Top 12 Media Myths On Oil Prices The upstream oil and gas industry is not a black hole. There’s no mystery wrapped in an enigma here. There are a lot of meetings with engineers, chemists and geologists. There’s a constantly evolving learning curve. And then there’s all the regulations and compliance. But all-in-all it’s pretty […]
Kiev, Moscow, Bonds and Haircuts
Kiev, Moscow, Bonds and Haircuts When money managers talk outside their narrow field, nonsense is guaranteed to ensue. No better example than this Bloomberg piece on Ukraine’s ‘debt restructuring’ plans, which are as much a political tool as they are anything else at all. Ukraine’s American Finance Minister has announced a broad restructuring plan with […]
Ukraine Playing Hardball With Gazprom In New Gas Deal
Ukraine Playing Hardball With Gazprom In New Gas Deal Ukraine plans to suspend its gas purchases from Russia on April 1, the day after the current contract expires, in an effort to strengthen Kiev’s bargaining position as the two countries negotiate a new deal that could lower the price of the fuel. Ukraine has been shifting […]
Saudi Exec Expects $1 Trillion Drop In Energy Investments
Saudi Exec Expects $1 Trillion Drop In Energy Investments A high-ranking Saudi Aramco executive says the plunge in energy prices already has caused many in the industry to cut spending on oil and gas projects, and the trend probably will continue for a few years, perhaps reaching a cut of $1 trillion in investments. “Challenges […]
Rig Count Decline Re-Accelerates To 2nd Biggest Drop In 22 Years
Rig Count Decline Re-Accelerates To 2nd Biggest Drop In 22 Years Following last week’s slowing in the pace of rig count, crude prices dropped and then spiked, and it makes today’s data under more scrutiny. At around $49.50, WTI prices have round-tripped back almost perfectly to the scene of the crime before today’s rig count […]
Some Toronto area gas stations run out of fuel
Some Toronto area gas stations run out of fuel Extreme weather blamed, but some analysts say Canada lacks refinery capacity Motorists are pulling up at some Toronto-area gas stations to find that the pumps are dry. The oil companies that supply fuel in the area have said it’s a temporary situation, caused by extreme winter […]
Stranded Assets in Oil and Gas a Reality
Stranded Assets in Oil and Gas a Reality Just a few short years ago a friend called me to chat about the possibility of stranded assets in oil and gas due to climate change and the expected legislation and new regulations that would entail. This was an interesting idea coming out of the UK at […]
“Default Monday”: Oil & Gas Companies Face Their Creditors
“Default Monday”: Oil & Gas Companies Face Their Creditors Debt funded the fracking boom. Now oil and gas prices have collapsed, and so has the ability to service that debt. The oil bust of the 1980s took down 700 banks, including 9 of the 10 largest in Texas. But this time, it’s different. This time, […]
WAR & PETROLEUM RESERVES
WAR & PETROLEUM RESERVES In the interest of analytical balance, we would do well to consider the possibility of war strategies when it comes to the global stockpiling of petroleum reserves. In the years leading up to the German invasion of Poland, the world witnessed dramatic decreases in the price of oil as well as […]
Christophe McGlade on who gets left with the unburnable carbon
Christophe McGlade on who gets left with the unburnable carbon Christophe McGlade is a research associate in energy materials modelling at the UCL Institute for Sustainable Resources. He recently co-authored, with Paul Ekins, a paper called “The geographical distribution of fossil fuels unused when limiting global warming to 2°C”, a paper whose stark call to leave the […]
Cheap petrol prices behind us, modest rises predicted to continue: economist
Cheap petrol prices behind us, modest rises predicted to continue: economist Motorists may have seen the last of cheap fuel, with the price of petrol rising for the first time in 10 weeks. The Australian Institute of Petroleum said the national average petrol price rose four cents per litre last week to 112.6 cents. The […]
Oil Majors’ Profits Take A Beating
Oil Majors’ Profits Take A Beating The first quarterly earnings reports since the collapse of oil prices are in and the numbers show a significant deterioration in profits for the oil majors. Royal Dutch Shell went first on January 29, revealing a big jump from the same quarter a year ago, but down from the third quarter […]
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 […]
