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Oil Prices Are Primed To Spike This Winter
Oil Prices Are Primed To Spike This Winter The EU embargo on seaborne Russian crude oil exports and the G7 price cap on Russian oil are both less than a month away. While a global economic slowdown and weak oil demand in China have capped prices, looming supply disruptions will likely send oil prices higher. […]
NOPEC Bill Won’t Bring Oil Prices Down
NOPEC Bill Won’t Bring Oil Prices Down Washington responded angrily to OPEC+’s decision to cut output. U.S. legislators have suggested the introduction of a bill called NOPEC in order to reduce OPEC’s power. NOPEC could send oil prices higher and end the dominance of the petrodollar. “Nobody f*cks with a Biden,” said the U.S. president, […]
World Should Brace for Global Oil Shortage and Skyrocketing Price Due to Worsening Crisis
World Should Brace for Global Oil Shortage and Skyrocketing Price Due to Worsening Crisis According to economists, chronic underinvestment in new oil supply since the 2015 crisis, as well as pressure on oil and gas corporations to reduce emissions and even “keep it in the ground,” would likely lead to global oil output peaking sooner than […]
Global Food Prices Set To Soar As The Oil And Gas Crunch Continues
Global Food Prices Set To Soar As The Oil And Gas Crunch Continues Oil and gas prices have risen dramatically this year as a result of underinvestment and recovering demand. Higher fuel prices are weighing on global food supply chains, with transportation and farming costs continuing to climb. The hardest hit will, once again, be […]
In the wake of the COVID-19 crisis, Europe must prepare for life after oil
In the wake of the COVID-19 crisis, Europe must prepare for life after oil For the first time in history, in the wake of the corona crisis, US oil prices have gone negative thanks to record lows in global oil demand. This pandemic has revealed deep-seated structural vulnerabilities in our fossil fuel-dependent economy. The most […]
Alberta’s Problem Isn’t Pipelines; It’s Bad Policy Decisions
Alberta’s Problem Isn’t Pipelines; It’s Bad Policy Decisions Bitumen prices are low because the province has ignored at least a decade of warnings. In 2007, an Alberta government warned that bitumen prices could eventually fall so low that the government’s royalty revenues — critical for its budget — would be at risk. Photo via Government […]
IT BEGINS… Rapidly Falling Oil Prices First Guts Tar Sands, Then Shale Oil
IT BEGINS… Rapidly Falling Oil Prices First Guts Tar Sands, Then Shale Oil The rapidly falling oil prices have finally claimed the first victim, but it won’t be the last. The Alberta Canadian government announced late yesterday for a substantial cut in tar sands oil production to stem the hemorrhaging low oil price. The price paid […]
Alberta Intervenes To Halt Canada’s Oil Crisis
Alberta Intervenes To Halt Canada’s Oil Crisis Oil prices rose on Monday, buoyed by coordinated production cuts – cuts that did not come from Vienna (although that too could occur later this week). Instead, the mandatory reductions were handed down by the provincial government of Alberta. “Perhaps OPEC should therefore consider inviting Canada to its […]
Trump And OPEC Face Off Over Production Cuts
Trump And OPEC Face Off Over Production Cuts “Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower!” President Trump tweeted a few days ago. Trump is a bit confused on the specific figures – perhaps […]
Why Oil Prices Could Still Go Lower
Why Oil Prices Could Still Go Lower Crude markets had a panic attack in August and September that sent prices soaring. Sanity is now returning. Prices have fallen but are likely to move even lower over the next few months. The panic attack was caused largely by Trump’s August 7 announcement that sanctions would be […]
U.S. Shale Has A Glaring Problem
U.S. Shale Has A Glaring Problem Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of U.S. shale companies are still struggling to turn a profit. A new report from the Institute for Energy Economics and Financial Analysis […]
$100 Oil Is A Distinct Possibility
$100 Oil Is A Distinct Possibility An oil price spike is starting to look increasingly possible, with a rerun of 2008 not entirely out of the question, according to a new report. The outages from Iran are worse than most analysts expected, and bottlenecks in the U.S. shale patch could prevent non-OPEC supply from plugging […]
Oil Prices Have Been Rising And $4 A Gallon Gasoline Would Put Enormous Stress On The U.S. Economy
Oil Prices Have Been Rising And $4 A Gallon Gasoline Would Put Enormous Stress On The U.S. Economy Thanks to increasing demand and upcoming U.S. sanctions against Iran, oil prices have been rising and some analysts are forecasting that they will surge even higher in the months ahead. Unfortunately, that would be very bad news […]
King Trump Shouts at the Ocean: Stop the Waves
King Trump Shouts at the Ocean: Stop the Waves Trump believes all he has to do to make things happen is to issue an ultimatum. One Tweet will explain. ✔ The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as […]
