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Big Oil Doubles Down On Shale Despite Price Drop

December 13, 2018

Big Oil Doubles Down On Shale Despite Price Drop It’s the time of the year when oil companies start announcing their budgets for next year and besides a steady albeit guarded optimism, one thing stands out: oil majors are doubling down on their shale endeavors. Chevron, ConocoPhillips, and Hess Corp all announced their capex plans […]

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Big Oil Won’t Spend Despite Fat Profits

October 30, 2018

Big Oil Won’t Spend Despite Fat Profits Higher oil prices are expected to leave the oil industry flush with cash, but the “capital discipline” mantra remains. Market watchers have wondered whether top oil executives would eschew with tight-fisted spending plans once their pockets fattened up again. “We’re laser focused on disciplined free cash flow generation […]

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How Oil Industry Lobbyists Played the Long Game to Access a Fuel-Rich Corner of Alaskan Wilderness

December 22, 2015

How Oil Industry Lobbyists Played the Long Game to Access a Fuel-Rich Corner of Alaskan Wilderness  Joseph Sohm / Shutterstock This story was co-published by ProPublica and Politico Magazine. From his seat in the small plane flying over the largest remaining swath of American wilderness, Bruce Babbitt thought he could envision the legacy of one of his proudest achievements as […]

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Obama Slams The Door On Future U.S. Arctic Drilling

October 20, 2015

Obama Slams The Door On Future U.S. Arctic Drilling The Obama administration officially shut the door on Arctic drilling, a move that could prevent any new drilling for years to come. The U.S. Department of Interior announced on October 16 that it would cancel two lease sales for offshore acreage, which had been scheduled to take place […]

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ConocoPhillips Fires 10% Of Global Workforce, Warns Of “Dramatic Downturn” To Oil Industry

September 1, 2015

ConocoPhillips Fires 10% Of Global Workforce, Warns Of “Dramatic Downturn” To Oil Industry Remember when the oil crash was supposed to be “unequivocally good” for the global economy and the US consumer, only for this to be disproven as the biggest macroeconomic lie since “QE is good for the people”? We do –  quite vividly […]

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Oil Majors’ Profits Take A Beating

February 3, 2015

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 […]

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Big Oil Slashing Spending Amid Low Prices

December 13, 2014

Big Oil Slashing Spending Amid Low Prices. Oil prices continue to slide in mid-December, slumping towards another key threshold of $60 per barrel. Oil prices hit a five-year low on December 10. While many major oil players have gone to lengths to assure markets that they can weather the price downturn – and indeed it is far […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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