It appears there is a possibility that President Obama could veto congressional legislation that pushes for Keystone XL pipeline construction, but ultimately approve the project anyway. This is because a key piece of the puzzle is a Nebraska Supreme Court decision. “If Nebraska were to bless a pipeline route, the State Department could finish its… Keep reading →
This morning began with rumors that Saudi King Abdullah bin Abdulaziz Al Saud had died, though it quickly became clear this was not the case. However, King Abdullah has been in poor health for years and is currently hospitalized undergoing treatment for pneumonia. The Saudi Press Agency (English version) confirmed that King Abdullah was still… Keep reading →
Energy sources and related commodities have driven national security issues ever since the modern nation-state was born with the Peace of Westphalia. Oak made Spain and England’s stout sailing ships. Water energy and wind drove mills and moved water. Wood and coal moved steamships. Then came the almost magical commodity of oil, packed with energy. World War II… Keep reading →
Many large US oil producers have oil price hedges in place through the beginning of 2015 or for the entire year that are helping blunt the impact of lower oil prices. Some companies may be able to cash in on well positioned hedges and use the funds to purchase new positions that can help weather… 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 →
Falling oil prices are bringing down prices of high-risk bonds many companies used to finance their capital intensive unconventional drilling programs. “Most of that decline has occurred in the last 30 days. It’s already making it harder for oil companies to reach out to the financial markets to fund more of their drilling operations, as… Keep reading →
If you haven’t been near a computer, television or radio, benchmark oil prices are down about 40% from June. Given the ubiquitous media coverage, it can be hard to cut through the noise to find more insightful analysis and different views. (Liam Denning has an interesting piece in the Journal today that discusses Saudi pricing… Keep reading →
Here’s an interesting look at the peculiar personalities that often accompany top leadership in major oil producing countries like Russia, Iran and Venezuela. “If oil is a factor in the petrostate personality, one might ask whether we might see some change in the leaders, since oil prices have tanked by about 40% in the last… Keep reading →
Opinion: The Gas Station Isn’t the Only Place Americans Pay for Oil
By Lt. Gen. Richard Zilmer, USMC (Ret.)With gasoline prices lower than they’ve been in years, it’s easy to get complacent about weaning ourselves from petroleum. Sure, you might be spending less at the pump. But don’t forget the high cost our country pays for its over-dependence on oil – not just in terms of dollars, but in terms of national security, our economy… Keep reading →