In its goal of pursuing statehood, the Islamic State became an oil state at the worst time. When international oil prices were trading closer to $100/bbl, it’s estimated that IS could have been making $6 million a day from black market oil sales. The oil price decline is altering the way IS conducts its business… Keep reading →
In 2008, as Beijing geared up for the summer Olympics by stockpiling crude oil, the world blamed the Communist government for inflating prices. Now eyes are back on China, wondering if demand from the Asian nation will bolster falling crude prices. With oil prices falling to their lowest level in years, the Chinese are taking… Keep reading →
The federal approval process for cross-border pipelines (and there are many) historically has taken 18 to 24 months, yet the White House says that more than six years isn’t enough time to determine whether the Keystone XL pipeline is in the national interest. Perhaps the State Department can help them out. On the need for… Keep reading →
It’s that time of the year again when world leaders, CEOs, thought leaders, power brokers and dignitaries from business and politics alike descend on the small Swiss ski resort of Davos for the World Economic Forum Annual Meeting 2015. This year’s gathering is scheduled for January 21-24 and Davos is sure to be bursting at… Keep reading →
Gold prices will continue to retreat, as of today, December 6, 2014 it is $1,192 an ounce. I believe it will be below $1,000 an ounce before year end 2015. Oil prices will be below $60 a barrel by year end 2015. The S&P 500 will exceed $2,200 a share sometime in 2015. The Supreme… Keep reading →
It appears the largest oil price decline since the 2008 economic and financial crises could be reaching a bottom. Maybe. Luckily we don’t have the displeasure of making oil price forecasts, like our colleague Ed Crooks the US Industry and Energy Editor at the Financial Times: Anyway, benchmark global oil futures prices rebounded today partially… Keep reading →
Saudi Arabian oil minister Ali al-Naimi has begun opening up a bit more about Opec and the kingdom’s decision to leave oil production quotas unchanged at the producer group’s meeting last month. Since that decision – and price cuts on behalf of individual Opec members – benchmark oil prices plummeted and are now down about… Keep reading →
Russian officials already in the unenviable position of dealing with the impact of Western sanctions on their national economy as reflected in a tumbling ruble – in spite of continuous Central Bank interventions – and capital outflows, now face the possibility of a recession looming in 2015, according to recent World Bank projections. Russia: Policy Uncertainty… Keep reading →
A couple of data points to remember with EPA poised to propose new, lower ground-level ozone standards, perhaps as soon as next month: Air quality is and has been improving under the current, 75 parts per billion (ppb) standards, which are still being implemented across the country. EPA reports national average ozone levels have fallen… Keep reading →
A good deal of the buzz generated by America’s ongoing energy revolution has centered on the way surging domestic production is changing the crude oil imports picture. No question, it’s a pretty one, with net imports as a share of consumption falling to levels not seen in nearly three decades. That’s great news for job creation,… Keep reading →
