The U.S. energy revolution continues to reshape America’s energy outlook for the better. Thanks largely to shale energy reserves and advanced hydraulic fracturing and horizontal drilling, the U.S. Energy Information Administration’s 2014 Annual Energy Outlook estimates domestic oil production will approach 9.6 million barrels per day by 2016 – a level of output not seen since 1970.… Keep reading →
It can be hard to maintain a sense of humor while keeping up with all the fast-moving energy business trends unfolding so far this year, but maybe this will help. Toronto resident Josh Culling connected the long-awaited Keystone XL Pipeline decision with news of pop icon and misbehaving teen heart throb Justin Bieber’s inebriated drag-racing… Keep reading →
The energy industry – oil & gas sector in particular – is bracing itself for a massive wave of retirements over the short to medium term, which has been dubbed “The Great Shift Change.” As the industry prepares for this turnover, companies are looking to the next generation of candidates with skills ranging from finance,… Keep reading →
A new report with contributions from 100 clean energy experts and business leaders offers 200 “executive-action recommendations” to President Obama regarding the best ways to advance the country’s clean energy agenda. Former Colorado Governor Bill Ritter led the report that included insight from Obama’s former lead energy and climate advisor Heather Zichal. [National Journal] Germany’s… Keep reading →
ExxonMobil’s Ken Cohen highlights the tax payments made by some of the largest US-based oil companies, three of which – Exxon, Chevron and ConocoPhillips – appear in a list of the Top 10 corporate tax payers in 2012 compiled by 24/7 Wall Street. “In fact, ExxonMobil and Chevron are ranked #1 and #3 respectively, with… Keep reading →
Hedge funds are pulling out of bets that crude oil prices will rise in the short to medium term. With the market currently well supplied, investors are increasingly taking futures and options positions that could be profitable if oil prices decline further. “Money managers cut net-long positions, or wagers on rising prices, for benchmark West… Keep reading →
The issue of exporting US crude oil – essentially banned since the 1970’s energy crisis – is gaining steam, as US domestic oil production volumes increase to levels few thought possible just a few years ago. Amid this environment of surging incremental production, certain high-profile industry and high-ranking government officials soften to the idea of… Keep reading →
Like any other asset, crude oil trades on supply as well as demand. And while an improving U.S. economy can be expected to boost the demand for oil, a stronger supply picture should take any wind out of oil’s sales in 2014. “Although the U.S. economic growth story might make it seem as though… Keep reading →
PFC Energy put together a succinct list of key trends in oil markets in 2013, along with associated charts. These include US oil production growing faster than in any other year, cheaper crude inputs at refineries driving the US to become the world’s largest exporter of refined petroleum products, and the rising disconnect between international… Keep reading →
Opinion: Lifting the Crude Export Ban; Real Discourse Gains Traction
By Chris FaulknerThe possibility of the Obama administration lifting the crude oil export embargo, to allow U.S. energy companies access to the world market, is finally a reality. Alaska Republican, and head of the Senate energy committee, Lisa Murkowski, drove the discussion this month when she called the ban “antiquated, and at times, absurd.” I couldn’t agree… Keep reading →