We’ve posted quite a bit recently about the need for streamlining the federal permitting process for energy infrastructure (see here and here). An API study earlier this year estimated investments in needed natural gas and oil infrastructure could total more than a trillion dollars and potentially generate more than 1 million jobs through 2035. That’s a lot of economic… Keep reading →
EIA forecasts that most of the growth in U.S. crude oil production through the end of 2018 will come from tight rock formations within the Permian region in Texas and from the Federal Gulf of Mexico.
An experiment performed by a startup in Brooklyn, New York, in 2016 could be a harbinger of the future of the energy industry.
This is the final segment in a three part series discussing the recent past and future of oil prices and the reasons why prices are where they are. Currently there is a glut in oil inventories worldwide. There are a number of factors contributing to this continuing situation as I have detailed in there previous two segments of this series but in the end it can all be summed up into one simple statement: All parties whether they are individuals, corporations, or nations tend to do what is in their own best interest.
This is the second part of a three part series discussing the recent past and future of oil prices and the reasons why prices are where they are. Many intelligent people who make their living analyzing oil markets have pointed to OPEC and its ability to enact large scale production cuts as central controlling oil prices. While this has yet to occur as the production cuts enter their fifth month true believers continue to chant the mantra “just give it time”.
This is the first of a three part series discussing the recent past and future of oil prices and the reasons why prices are where they are. April was an interesting time for the crude oil market. From late March until the latter half of April oil prices were above $50 a barrel and oil bulls became excited by the idea that a supply cut led by OPEC and Saudi Arabia would soon tighten balances and lead to increased prices. This has not come to pass and here is why I am doubtful that change in the near future.
As production in other regions fell throughout most of 2015 and 2016, the Permian provided a growing share of U.S. crude oil production.
API President and CEO Jack Gerard joined members of Congress and others at a Capitol Hill press conference calling for an end to the United States’ 1970s-era ban on the export of domestic crude oil. Gerard: “We’ve come to the point where we have a limitation on our ability to continue to grow this renaissance,… Keep reading →
Following on this week’s post on increased domestic energy production that is backing out imports, we see that the U.S. remained No. 1 in the world in the production of petroleum and natural gas hydrocarbons last year, according to the U.S. Energy Information Administration (EIA). The government agency responsible for quantifying all things energy says that… Keep reading →
Saudi Arabia Can’t Stop U.S. Fracking Boom National Journal: World oil producers have put oil prices into a free fall, refusing to pare back global supplies in the hopes that low prices will derail the fracking-backed production boom in the U.S. and preserve OPEC’s power over world energy markets. But global analysts are skeptical that the… Keep reading →
