Will Alderman Revive This Ethanol Ruse? Chicago Tribune Editorial: Last summer the Chicago City Council briefly considered an ordinance that would require gas stations in the city to sell a blend of fuel called E15, which has the potential to damage your car engine. An E15 mandate is a patently bad idea. Changing pumps to… Keep reading →
Benchmark oil prices took a nose dive today, with both WTI and Brent shedding their recent gains. Prompt-month WTI dipped into $75 per barrel territory on a combination of weak economic outlooks and supply/demand fundamentals. The other big news impacting WTI was Saudi Aramco’s price cut to the crude oil grades it exports into the… Keep reading →
In the U.S., a Turning Point in the Flow of Oil New York Times: HOUSTON — The Singapore-flagged tanker BW Zambesi set sail with little fanfare from the port of Galveston, Tex., on July 30, loaded with crude oil destined for South Korea. But though it left inauspiciously, the ship’s launch was another critical turning point… Keep reading →
We’ve posted a number of times on the merits of U.S. energy exports, because whether the subject is exporting crude oil or natural gas, there are compelling economic and energy reasons to lift restrictions on America’s ability to be a major player in global markets. While those restrictions remain, America and Americans lose. A number… Keep reading →
A new report from Brookings’ Energy Security Initiative adds more scholarly weight to the analytical case for lifting America’s decades-old ban on crude oil exports. Echoing earlier studies by IHS and ICF International, the Brookings research finds that allowing the export of domestic crude would stimulate more oil production here at home, provide broad economic benefits and strengthen U.S. energy… Keep reading →
Financial results from 127 global oil and natural gas companies showed increased use of debt to help fund operations – along with asset sales – in recent years amid flat oil prices. Low borrowing rates facilitated this phenomenon, though the long-term sustainability of this strategy is questionable. “Using debt to fuel growth is a typical… 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 →
More data from the U.S. Energy Information Administration (EIA), pointing toward American energy self-sufficiency: The agency reports domestic energy production accounted for 84 percent of total U.S. energy demand in 2013, a ratio last seen in the early 1990s. EIA: The portion of U.S. energy consumption supplied by domestic production has been increasing since 2005, when it was… Keep reading →
Various authorities have been playing regulatory catchup in the wake of unanticipated oil transport by rail increases and several associated accidents. Today’s big news is a US Transportation Department announcement that crude oil moving by rail will be subject to extensive testing for characteristics like vapor pressure and other properties that impact flammability. The testing… Keep reading →
