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New Study: Cross-Border Energy Infrastructure Critical To U.S.-Canada Energy Trade, Benefits Consumers On Both Sides Of The Border
New Study: Cross-Border Energy Infrastructure Critical To U.S.-Canada Energy Trade, Benefits Consumers On Both Sides Of The Border WASHINGTON, April 6, 2021 – The American Petroleum Institute (API) today released a new report examining how growth in cross-border petroleum trade between the United States and Canada has led to the further integration of North American […]
Is The World About To See An Oil Shortage?
Is The World About To See An Oil Shortage? It’s possible we could be headed for a shortfall in global oil supply as soon as next year – pretty remarkable considering where oil demand was last spring, with economies slowing under the weight of the pandemic. Based on projected rising demand, the natural production decline […]
Delaware Just Sued 30 Fossil Fuel Companies and the American Petroleum Institute Over Climate ‘Denial and Disinformation’
Delaware Just Sued 30 Fossil Fuel Companies and the American Petroleum Institute Over Climate ‘Denial and Disinformation’ Delaware, the home state of Democratic presidential candidate Joe Biden, announced on Thursday, September 10 that it is taking dozens of major oil and gas companies including BP, Chevron, and ExxonMobil to court over the rising costs of climate impacts […]
WTI Tumbles On Biggest Crude Build In 19 Months
WTI Tumbles On Biggest Crude Build In 19 Months Modest overnight gains following API’s data have been erased as DOE reports a massive surprise (biggest since March 2017) crude build… “We’re right in the middle of refinery maintenance season and you’ll probably see a lot of demand coming offline,” says Michael Loewen, a commodities strategist at […]
Oil Prices Fall As EIA Confirms Inventory Build
Oil Prices Fall As EIA Confirms Inventory Build After a surprise 5.32-million-barrel inventory build reported by the American Petroleum Institute (API) weighed on oil prices yesterday, the Energy Information Administration (EIA) is reportinga build of 1.6 million barrels for the week ending March 23. The markets, which have not had a chance to react to […]
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 […]
WTI Crude Plunges To $34 Handle After Record Gasoline Inventory Build
WTI Crude Plunges To $34 Handle After Record Gasoline Inventory Build Following last night’s API-reported large draw in overall crude inventories (year-end and exports driven), DOE reports a 5.09mm draw (more than expectations of a 4.1mm draw but less than API’s 5.6mm draw). However, Cushing inventories rose for the 9th week in a row (+917k) and more troubling […]
American Petroleum Institute Touts Oil Exports to Fend Off Iran, Russia Despite API Members Tied to Both Countries
American Petroleum Institute Touts Oil Exports to Fend Off Iran, Russia Despite API Members Tied to Both Countries The American Petroleum Institute (API) has launched a new advertising campaign in its ongoing push to oust the U.S. oil exports ban in place since 1975. One of the most recent ads, titled “Crude Oil Exports and National Security” on YouTube, starts off with […]
Oil slips below $56 on expectations oversupply to linger
Oil slips below $56 on expectations oversupply to linger (Reuters) – Oil slipped below $56 a barrel on Wednesday, pressured by expectations that oversupply in world markets would persist and an industry report saying U.S. crude stocks rose from a record high. The American Petroleum Institute said on Tuesday crude stocks increased by 1.6 million barrels last week. […]
Fracking Failure: Frackers In Pennsylvania Violate Health And Environmental Regulations On A Daily Basis
Fracking Failure: Frackers In Pennsylvania Violate Health And Environmental Regulations On A Daily Basis From the American Petroleum Institute’sclaim that fracking is “safely unlocking vast U.S. reserves of oil and natural gas” to Chris “Frack Master” Faulkner himselfinsisting “fracking isn’t contaminating anything,” the oil and gas industry constantly tells us that fracking can be done safely, despite plenty of evidence to the […]
