As the U.S. produces more of its own energy, pressure is mounting on the federal government to move quickly to export its natural gas bounty-a move that has encountered stiff resistance from some energy market players.
Natural gas, an abundant fuel source that is cheaper and cleaner than standard gasoline, is increasingly seen as a successor to diesel and regular gas, particularly as the world’s largest economy produces more of it. Keep reading →
The drought that ravaged much of the U.S. in 2012 shows no sign of letting up. Spring rains have eased concerns in the Southeast and in some areas of the Midwest, but other sections are not so lucky.
“The western half of the country is bad and will probably get even worse,” said Richard Heim, a drought monitor expert at the National Oceanic and Atmospheric Administration (NOAA). Keep reading →
Oil prices have cascaded lower in the global commodities rout and may still have further to go before finding a floor, analysts say.
Government data showing weakening gasoline demand added to the selling pressure Wednesday, as did a stronger dollar, up 1 percent against a basket of currencies. West Texas Intermediate fell 2.3 percent to $86.68 a barrel, a fresh 2013 low, and Brent, the international benchmark, hit $97.80, a 2.1 percent decline. Keep reading →
Recent trends suggest that the Gulf Coast is becoming to U.S. oil production what Apple is to the technology sector: a dominant player beset by challenges to its dominance.
Meanwhile, the Bakken Formation in North Dakota and Eagle Ford in Southern Texas are playing the role of Google and Samsung – upstarts shaking up the status quo in the sector. Keep reading →
A “crescent of chaos” emerging from the Middle East and North Africa (MENA) region and tensions with Iran could lead to a dramatic turnaround in the price of oil, according to Nomura’s analysis.
Brent crude, which fell to an eight-month low last week on weak U.S. jobs data, is set to climb following Iran’s presidential election in June,the firm said in research published on Tuesday. Keep reading →
The excitement over solar power, which once attracted billions in private investment and public subsidies, has waned recently, underscoring the limitations of renewable energies and the unchallenged dominance of fossil fuels.
Some of the $75 billion sector’s high profile names have fallen on hard times recently – most notably Suntech Power. The China-based solar panel company rattled the industry when it filed for bankruptcy last week. In its heyday, the stock traded just shy of $90 and had a market capitalization of $16 billion: on Thursday, the last day U.S. markets were open, the shares traded around for 42 cents each. Keep reading →
Natural gas has been on fire lately. On Wednesday, it hit the highest level since September 2011, and it’s risen an incredible 113 percent since April.
So can nat gas keep running higher? Keep reading →
It’s the rally you probably haven’t heard about.
The price of natural gas has spiked to its highest level since 2011, advancing 17 percent year-to-date, as supplies declined for 14 consecutive weeks. Keep reading →
As politicians in Cyprus scramble to clinch a bailout deal to avert a collapse of its banking sector, Rosneft and BP finalized a deal to create the world’s largest listed oil major, an agreement Rosneft’s CEO hailed as “more important than the situation in Cyprus”.
Rosneft completed the acquisition of BP subsidiary TNK-BP on Thursday. It gives BP a near 20 percent stake in the Russian oil firm. The U.K.-listed oil giant announced Friday that it will buy back $8 billion of its shares, and return some of the proceeds to shareholders. Its stock rose 2.83 percent in morning trade on Friday. Keep reading →
Despite objections, the U.S. is heading down the road to export natural gas, and that could ultimately help shake up world energy markets.
The boom in U.S. natural gas, thanks to new drilling technologies has resulted in a record amount of recoverable gas at cheap prices. Selling some of it abroad would bolster U.S. exports, help trade imbalances and relations, and provide fuel to parts of the world where it is now scarce and expensive. Keep reading →
