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US Oil Exports Are Exceeding Almost All Predictions—Thanks to Fracking
US Oil Exports Are Exceeding Almost All Predictions—Thanks to Fracking The U.S. Energy Information Administration (EIA) reported in September that crude oil exports are continuing to set records, mostly due to the fracking boom in the Permian Basin, in Texas and New Mexico. June exports hit a record 2.2 million barrels per day, while the monthly average was up […]
Record Oil Production Doesn’t Free U.S. From Global Market
Record Oil Production Doesn’t Free U.S. From Global Market In the first week of July, U.S. net imports of petroleum products fell to just 1.670 million barrels per day (mb/d), the lowest weekly total on record in at least three decades. The decline of net imports comes as the U.S. has ramped up oil production […]
The Geopolitical Consequences Of U.S. Oil Exports
The Geopolitical Consequences Of U.S. Oil Exports Two crucial things happened yesterday. The first you may have noticed – oil prices moved back up. As for the second, most so-called “experts” seemed to have missed. See, the environment we’re seeing in energy markets is very different from what we saw only a week ago, when […]
Export Ban, And Exports Went…Down
Export Ban, And Exports Went…Down Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period the year before, when the ban was still in place. According to Clipper Data market intelligence cited by the Financial Times, […]
“Miracle of American Oil”: Continental Resources Courted Corporate Media to Sell Oil Exports
“Miracle of American Oil”: Continental Resources Courted Corporate Media to Sell Oil Exports A document published by the Public Relations Society of America, discovered by DeSmog, reveals that from the onset of its public relations campaign, the oil industry courted mainstream media reporters to help it sell the idea of lifting the ban on crude oil exports to the […]
EIA On Board With Lifting U.S. Crude Export Ban
EIA On Board With Lifting U.S. Crude Export Ban A new report from the Energy Information Administration adds more weight to the notion that crude oil exports from the U.S. would not damage the economy. The EIA studied the prospect of oil exports in response to questions from Congress, and it builds on several prior reports completed […]
40 % of US petroleum product exports didn’t grow since 2011
40 % of US petroleum product exports didn’t grow since 2011 This is another post in the series on how US tight oil has impacted on global oil markets. This time we look at US petroleum product exports. (1) Destination of US product exports Fig 1: US petroleum product exports by destination and type of growth […]
Low Prices Driving Record U.S. Crude Oil Exports Despite Crude Oil Export Ban
Low Prices Driving Record U.S. Crude Oil Exports Despite Crude Oil Export Ban “Are you more desperate to get a better deal when you’re poor? I guess you are.” That was John Auers, executive vice president of oil industry consulting firm Turner Mason & Company, describing the oil industry as being “poor” and “desperate” to Bloomberg. As the […]
Dumb and Dumber: U.S. Crude Oil Export
Dumb and Dumber: U.S. Crude Oil Export Exporting crude oil and natural gas from the United States are among the dumbest energy ideas of all time. Exporting gas is dumb. Exporting oil is dumber. The U.S. imports almost half of the crude oil that we use. We import 7.5 million barrels per day. The chart below shows […]
U.S. Easing of Oil Exports Challenges OPEC’s Strategy – Bloomberg
U.S. Easing of Oil Exports Challenges OPEC’s Strategy – Bloomberg. The Obama administration’s move to allow exports of ultralight crude without government approval may encourage shale drilling and thwart Saudi Arabia’s strategy to curb U.S. output, further weakening oil markets, according to Citigroup Inc. A type of crude known as condensate can be exported if it […]
Peak Oil Notes – Oct 23
Peak Oil Notes – Oct 23. New York oil futures traded around $82 a barrel this week until Wednesday’s stocks report showed an unexpected 7 million barrel jump in US crude stocks. The jump resulted in a nearly $2 decline in the futures market to a close of $80.52 a barrel, the lowest settlement since June of […]
