When gasoline prices began to spike earlier this year, the popular opinion was that oil prices would continue to climb into the peak summer travel season.
Oil Prices
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Independent oil and gas firms are attempting to focus on the fundamentals following major allegations against one of the sector’s most colorful figures. The looming dispute over Chesapeake Energy’s chairman comes as companies already contend with a glut of natural gas production amid high prices for oil and liquids production warping traditional price dynamics.
US oil and gas company executives “talked turkey” with Wall Street analysts in New York last week at a high-level investor conference. Every spring, the industry’s exploration and production community convenes to discuss their business models and corporate strategies with the analysts who rate their company’s stock for investors. Keep reading →
Firms and traders found guilty of oil market manipulation could be fined a minimum of $10 million a day under a proposal announced yesterday by President Obama.
“At a time when instability in the Middle East is contributing to rising global oil prices that impact consumers at the pump, it is important to give American families confidence that illegal manipulation, fraud and market rigging are not contributing to gas price increases,” said a White House statement. Keep reading →
North America’s emerging oil shale abundance can fundamentally alter the US’s energy landscape, but experts say the road ahead may have a lot of detours.
The issues start with how much new supply can get to market. Keep reading →
President Obama ratcheted up the pressure on Iran Friday, deciding to implement previously announced sanctions that will be the toughest to date.
The decision declares that world oil markets can be adequately supplied even if a significant portion of Iran’s 2.2 million barrels a day in oil exports is taken off the table. Keep reading →
Doing its best Ben Bernanke (or maybe Greg Smith?) impression, Saudi Arabia took the somewhat unusual step this week of penning an Op-Ed to make its case that global oil prices are too high.
But by writing a letter to the Financial Times, the world’s largest supplier of oil has left some in the energy markets wondering one question: If Saudi Arabia truly wants to lower prices, why doesn’t it simply produce more oil? Keep reading →
Canada’s oil sands industry has taken a major leap toward greening their operations and their image. The 12 largest producers – accounting for 80% of oil sands production – have come together to form Canada’s Oil Sands Innovation Alliance, which has committed to accelerating the pace of environmental improvement, COSIA CEO Dan Wicklum told Breaking Energy recently.
Numerous environmental oversight organizations sprung up organically over time to ensure oil companies were honoring their commitment to the environment. While these ad hoc sustainability initiatives made positive strides, the public wanted more. As a result, COSIA was formed and the chief executives of each member company signed a charter on March 1st committing them to specific activities and behavior. Keep reading →
Although Iranian geopolitical risk could ease in the second quarter of 2012, the global oil market remains tight, with considerable risk to both the upside and downside, says international banking giant Barclays in its most recent quarterly Global Outlook.
If the news flow from Iran slows in the second quarter, the bank sees oil prices easing slightly lower, as the decreased threat of a supply disruption would calm traders. However, the tightness in the global oil system – spare production capacity is currently only about 2% of global demand – is likely to persist into the second half of the year, keeping upward pressure on prices. Keep reading →
With swelling U.S. natural gas inventories, swooning futures prices, and weather that has recently seen little need for gas as a heating fuel, it’s hard to believe that prices are headed off their current decade lows.
But not according to Chesapeake. Keep reading →
Even the Saudis think the current price of #oil is too high says Atlas Energy CEO Cohen at #ECOnomics #energy
By Jared AndersonEven the Saudis think the current price of #oil is too high says Atlas Energy CEO Cohen at #ECOnomics #energy petergardett
