The Brookings Institute in Washington DC has come out in favor of lifting the U.S. ban on crude oil exports. Brookings hosted an event on Sept. 9 to unveil their new report titled “Changing Markets: Economic Opportunities from Lifting the U.S. Ban on Crude Oil Exports” written by Charles Ebinger and Heather Greenley and based… Keep reading →
A tanker carrying 1 million barrels of crude oil from Iraqi Kurdistan reportedly just rounded the Florida pan handle and is scheduled to land in Galveston, Texas. The buyer is unclear and Iraq’s official crude oil marketer SOMO is threatening to sue anyone purchasing the cargoes, which the government in Baghdad views as violating the… Keep reading →
A new documentary called Pump seeking to promote alternative fuels in the US takes aim at the existing downstream oil products complex and suggests change is afoot. The movie is due out in September and today Submarine Deluxe, in association with Fuel Freedom Foundation and iDeal Film Partners released the trailer that can be viewed… Keep reading →
Eye-catching headline this week in The Hill: “EPA races to finish Obama rules.” First reaction: Haste makes waste – and when talking about regulation that could affect America’s dynamic, game-changing energy revolution, the goal should be sound policy, not speed. The Hill: Officials at the Environmental Protection Agency (EPA) are racing to churn out new regulations… Keep reading →
EPA’s proposed update for petroleum refinery emission standards includes benzene concentration monitoring for the first time. On May 15, 2014, the Environmental Protection Agency (EPA) issued a proposed rule updating toxic air pollution standards for petroleum refineries located near neighborhoods. It is the first EPA proposal requiring monitoring of air concentrations for benzene around fence… Keep reading →
Another benefit of America’s energy renaissance is seen in the competitive edge North American refiners are gaining because of lower feedstock costs, resulting from surging domestic crude oil and natural gas production. The latest “This Week in Petroleum” report by the U.S. Energy Information Administration (EIA) says that U.S. and Canadian refiners are in a stronger position relative… Keep reading →
By Sri Jegarajah U.S. crude futures may draw some support this week from signs of improving gasoline demand and a pick-up in U.S. refinery activity, CNBC’s latest survey of market professionals showed — although a record supply overhang may restrain any move higher. Gasoline prices have now increased for 12 weeks in a row, gaining nearly… Keep reading →
The US energy production renaissance is having a profound impact on the country’s supply/demand fundamentals, rewriting the script with regard to crude oil imports and petroleum product exports. The EIA’s latest Short-Term Energy Outlook details numerous ways in which the US energy profile is evolving. “U.S. crude oil production averaged an estimated 8.3 million barrels… Keep reading →
Today’s quote is actually a reader comment made in response to a news tidbit we featured in a recent morning roundup about the US Navy turning seawater into fuel. We remarked the piece was a bit light on details, so one of our readers helped fill in the technical aspects that, as he puts it,… Keep reading →
The changing global oil refining picture has seen several mid-range to large companies spin off their downstream operations in recent years, but the trend has yet to travel up the food chain to the world’s largest oil companies, despite pressure from investors to do so. Examples of companies that divested downstream assets include Hess and… Keep reading →
