Trading

EIA Chief: US Could Reduce Oil Imports to Zero

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US dependence on imported crude oil is expected to drop to 41% this year, but it could drop even faster, and even to zero, says Adam Sieminski, Administrator of the Energy Information Administration.

EIA’s forecast is a substantial reduction even from 2011, when imports met 45% of US demand, and way below the record year of 2005 when the US imported 60%. Analysts agree that discoveries of new US resources, improvements in US auto fuel economy, and lower overall demand due to the recession have combined to reduce the need for imports. Keep reading →

 /  Published October 23, 2012 at 8:30 AM

Politics and Power Markets

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When it comes to energy and politics, the United States is not what it appears. Deregulation of the power markets is one example. Some regions of the nation have developed robust power markets. Others regions do not and they don’t want it.

The regionalization of the power markets means there is no such thing as a national grid. According to The ISO/RTO Council, the United States has seven formalized power markets and vast regions where no markets exist at all. Approximately two-thirds of US consumers are served by the seven deregulated power markets. The objective of these markets is to provide buyers and sellers price discovery, liquidity, and non-discriminatory access to wholesale power. Keep reading →

 /  Published October 22, 2012 at 8:30 AM

Betting on Brazil

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Brazil may not be growing the way it once was, but there are still opportunities to be had in Latin America’s largest economy.

After a commodities-driven boom during the past decade, Brazil’s economy slowed substantially last year as global demand for raw materials waned. Keep reading →

 /  Published October 15, 2012 at 2:00 PM

Citi on the Global Oil Price ‘Tug of War’

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China’s economy, the red-hot growth engine that propelled global energy demand to dizzying heights over the last decade, is slowing down “faster than anyone forecast,” and could help keep global oil prices from soaring in a supply disruption.

That according to Edward Morse, Global Head of Commodity Research with Citi Group Global Markets. Speaking to the Department of Energy/National Association of State Energy Officials Winter Fuels Outlook Conference Oct. 10 in Washington, DC, Morse said China’s speedy reduction in import demand, along with the economic woes of the Eurozone, could have a significant leavening effect on world oil prices. Keep reading →

 /  Published October 12, 2012 at 8:30 AM

Colder Weather Expected to Drive Up Home Heating Costs

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New England’s dependence on fuel oil for heating is putting the region in the energy crosshairs this winter, with the average heating oil price projected to hit a record $3.81 per gallon.

The National Oceanic and Atmospheric Administration (NOAA) says it currently looks like the US winter will be slightly warmer than normal, but not nearly as warm as last winter in much of the nation. Keep reading →

 /  Published October 11, 2012 at 11:45 AM

IEA Releases Major Report on Iraq’s Energy Resources and Potential

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The pace of Iraq’s economic and social development going forward is largely tied to the success or failure of its energy sector goals, and in turn the degree to which the country’s oil industry can meet its aggressive targets will play a pivotal role in the global oil market over the next two decades.

The International Energy Agency has analyzed the future of Iraq’s energy industry using three scenarios – high, central and delayed – as a means of addressing the opportunities and risks facing the development of Iraq’s energy sectors. The special report entitled “Iraq Energy Outlook” is part of the IEA’s World Energy Outlook series. Keep reading →

 /  Published October 9, 2012 at 4:00 PM

Shares of Buffett’s Chinese Electric Car Maker Tumble

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Shares of BYD, the Chinese battery and electric car maker in which Warren Buffett is a major investor, tumbled in Hong Kong trading Wednesday after an analyst in China slashed his firm’s target price for the stock to virtually nothing.

 /  Published September 27, 2012 at 10:30 AM

Key Uranium Deals May Point Towards Greater Demand and Higher Prices in 2013

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During the month of August, the Australian uranium mining company Paladin Energy released some news that sent a much-welcome shock wave through the industry: Not only had it entered into an agreement to supply about 14 million pounds of uranium to a major utility, but it would be receiving $200 million as a pre-payment-even though the actual delivery of uranium would not begin until the year 2019.

The confidence in the marketplace reflected by the Paladin deal represents major news for an industry whose product is thought by several analysts to be significantly undervalued. In the wake of the Paladin announcement, for example, both Credit Suisse and RBC agreed that uranium prices could potentially rise as high as $80 to $90 per pound in a healthy market-up from $48 per pound as of mid-September 2012. Keep reading →

 /  Published September 26, 2012 at 11:30 AM

Despite Current Arbitrage Opportunities, Don’t Lunge Towards LNG

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On the surface, LNG appears to represent a new opportunity where easy profits are for the taking. In reality, producing and delivering LNG is a difficult business, and that business will only get harder as time goes on.

Unlike natural gas, where prices are established regionally, LNG is becoming a global commodity. Market prices depend on global supplies and demand. It is expected supplies will remain constrained for the next three years. Keep reading →

 /  Published September 25, 2012 at 8:30 AM

Water and Energy: You Could Soon Pay More, or Use Less

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Commodity derivatives trading in water?

It’s not as far-fetched as it sounds, and it may become part of the energy business soon. Keep reading →

 /  Published September 24, 2012 at 8:30 AM
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