Economy

Oil Prices Fall To Lowest Level In Four Months

Who Will Rule the Oil Market? The New York Times (Daniel Yergin): A historic change of roles is at the heart of the clamor and turmoil over the collapse of oil prices, which have plummeted by 50 percent since September. For decades, Saudi Arabia, backed by the Persian Gulf emirates, was described as the “swing producer.” With… Keep reading →

Wytch Farm Which Is The Largest Oil Field In The UK Is Put For Sale By BP

Oil Output Seen Rising, despite fall in Its Price NY Times: Even with oil prices continuing to plummet and oil companies decommissioning drilling rigs every day, the Energy Department on Tuesday projected that domestic crude production would continue to rise in 2015, although growth would slow. The forecast of even more American supplies on an… Keep reading →

Distributor Offloads Oil From Barge

U.S. Household Gasoline Expenditures in 2015 On Track to Be Lowest in 11 Years EIA Today in Energy: The average U.S. household is expected to spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years. Lower fuel… Keep reading →

Ethanol Industry Threatened By Midwest Drought

Will Alderman Revive This Ethanol Ruse? Chicago Tribune Editorial: Last summer the Chicago City Council briefly considered an ordinance that would require gas stations in the city to sell a blend of fuel called E15, which has the potential to damage your car engine. An E15 mandate is a patently bad idea. Changing pumps to… Keep reading →

Oil Boom Shifts The Landscape Of Rural North Dakota

Is It Time for the U.S. to Lift Its Restrictions on Oil Exports?  Wall Street Journal (Jason Bordoff): It’s a whole new oil world for the U.S. After decades of declining domestic oil production, the country is in the middle of an unexpected boom. Driven by new technology that reaches previously inaccessible reserves, production has soared… Keep reading →

Foreign Imported Cars Sit Idle At Port Storage Lot

  North America’s Energy Revolution Will Have a Ripple Effect Around the Pacific The Economist: To find out how much energy security has mattered in the Pacific’s recent history, ask the Japanese. At the museum of the Yasukuni Shrine in Tokyo, which honours the country’s war dead (sometimes controversially), an exhibit suggests, with a jarring note… Keep reading →

Fracking In California Under Spotlight As Some Local Municipalities Issue Bans

Benefits of the U.S. Oil and Natural Gas Boom are Permanent, Says Citi. Forbes: The return of the U.S. as an energy superpower will not be a short-term event with the economic benefits likely to last “at least two generations”, according to the latest research from Citi. That is one of the key findings in a… Keep reading →

Yukos Oil and Gas Company

Planned TransCanada Pipeline Would Allow Gulf Access, CEO Says The Wall Street Journal: A planned Trans- Canada Corp. oil pipeline designed to ship crude from Western Canada to Eastern Canadian refineries could also be used to access the Gulf Coast, creating an end-run around U.S. permitting delays for the Keystone XL pipeline, according to the company’s… Keep reading →

As Drilling At Relief Well Continues, Gulf Coast Toils Over Spill Recovery

U.S. Energy Exports to Top Imports by 2025, WoodMac Says Bloomberg: U.S. companies will export more energy than they import by 2025 as shale oil and gas production keeps climbing and the transportation sector becomes more efficient, Wood Mackenzie Ltd. said in a note today. Horizontal drilling and hydraulic fracturing in hydrocarbon-rich layers of shale rock… Keep reading →

With AFP Story by Veronique DUPONT: US-E

Marcellus Gas Production Anticipated to Increase, Lead the Nation in November: The State Journal (West Virginia): The U.S. Energy Information Administration’s Drilling Productivity Report, released Oct. 14, revealed that the Marcellus Shale play is anticipated to produce more gas than other reported regions in November. The Marcellus region is expected to produce 16,045 million cubic feet of… Keep reading →

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