Archive for the ‘Oil’ Category

“Shale jubilation fades as oil price falls undercut model”: FT.

November 23, 2014 Gas, Oil

FT: ‘The revolution devours its children.’ That observation, made by French journalist Jacques Mallet du Pan in 1793, has become a commonplace of political upheavals, but it is often true of revolutions in business, too. Companies that create a new market or disrupt an existing one do not always benefit in the long run.”

UK oil and gas industry pleads for Treasury help with low oil price.

November 23, 2014 Oil

FT: “Oil companies want George Osborne to make good his promise of tax reforms to encourage more investment in the North Sea or risk a collapse of the sector.”

BGS admits ignorance of UK fracking impact absent monitoring.

November 22, 2014 Gas, Oil

Observer: “Hundreds of government-funded boreholes are set to be drilled across Britain to try to persuade the public that a looming shale gas boom can be developed safely, the Observer has learned.”

Shale narrative fizzles in China as clean energy and imports lead the way.

November 21, 2014 Gas, Oil

Bloomberg: “China has sharply cut its output target for shale, signaling the country’s drilling boom is fizzling out before it even gets going.”

“US oil producers can’t kick drilling habit.”

November 21, 2014 Gas, Oil

John Dizard for the FT: “You would think, what with the recent oil price crash, the people who finance US oil and gas producers would have learnt their lesson. But not yet.”

Keystone XL proposal fails in current US Senate by one vote.

November 19, 2014 Climate, Oil

BBC: “The US Senate has narrowly failed to pass a bill approving the controversial Keystone XL oil pipeline. The Senate voted by 59-41 in favour of the bill, but this was one vote short of the 60 needed to pass it.”

“Oil industry risks trillions of ‘stranded assets’ on US-China climate deal.”

November 19, 2014 Climate, Gas, Oil

Telegraph: “Brazil’s Petrobras is the most indebted company in the world, a perfect barometer of the crisis enveloping the global oil and fossil nexus on multiple fronts at once.”

Why belief in looming US oil “independence” is based on myth.

November 18, 2014 Climate, Gas, Oil

Daniel Davis, Cavid Hughes, & Mark Lewis for the Huffington Post: “Media reports regarding the American crude oil industry have been uniformly positive in the past few months. Oil prices have dropped to their lowest level since 2010 and along with it prices at the pump.”

Top American PR urges oil client to target opponents personal lives.

November 17, 2014 Oil

NYT: “The advice from a top American public relations firm was simple: A Canadian pipeline company should take aim at its opposition.”

“Oil price slump to trigger new US debt default crisis as Opec waits.”

November 14, 2014 Finance, Gas, Oil

Telegraph: “Remember the global financial crisis, triggered six years ago when billions of dollars of dodgy loans – doled out by banks to subprime borrowers and then resold numerous times on international debt markets – began to unravel and default?”

Fracking boom means soaring demand for sand – and clouds of dust.

November 14, 2014 Gas, Oil

Bloomberg: “A little sand mine down the road didn’t seem like a big deal 17 years ago, when Alphonse Dotson picked the site for a vineyard in the Texas Hill Country.”

House of Representatives passes bill approving Keystone XL oil pipeline.

November 14, 2014 Climate, Oil

Guardian: “The Republican-controlled House of Representatives passed a bill to approve the Keystone XL oil pipeline with a resounding majority on Friday, setting the stage for a showdown in the Senate next week.”

IEA warns oil-price “rout” will deepen, pressure increase on OPEC, Russia.

November 14, 2014 Oil

Bloomberg: “Oil prices could slide from a four-year low in the coming months as the market enters a period of weaker demand, increasing pressure on OPEC to reduce production, the International Energy Agency said.”

Ten years of watching unrealistic scenarios in IEA World Energy Outlooks.

November 13, 2014 Clean Energy, Climate, Coal, Finance, Gas, Nuclear, Oil

David Macleod for Resilience: “The International Energy Agency (IEA) is the energy watchdog of the industrial world. The developed nations of the world were caught off guard by the oil crisis of 1973.”

Breathing space from non-OPEC oil output is “illusory”.

November 13, 2014 Clean Energy, Climate, Gas, Oil

Mark Lewis for Kepler Cheuvreux (no url): “The IEA yesterday released its 2014 World Energy Outlook (WEO), the annual benchmark reference document for energy-market practitioners.”

Fracking “no silver bullet”, say EU science academies.

November 13, 2014 Gas, Oil

Guardian: “There are no scientific or technical grounds to ban fracking in Europe but it will not be a “silver bullet” to improve energy security or cut emissions, European science academies have said.”

IEA: US shale boom masks threat to world oil supply.

November 12, 2014 Gas, Oil, Top Ten Signposts to Energy Crisis

Bloomberg: “The U.S. shale boom masks threats to global oil supply including Middle East turmoil, conflict in Ukraine and the difficulty of unconventional oil production beyond North America, theInternational Energy Agency said.”

Ministers are hyping UK shale, says UK Energy Research Centre.

November 12, 2014 Gas, Oil

BBC: “Ministers have “completely oversold” the potential of shale gas, energy experts say. Researchers from the UK Energy Research Centre (UKERC) told the BBC promises of lower prices and greater energy security from UK shale gas were “hype” and “lacking in evidence”.”

Rich countries subsidise fossil fuels by $88bn a year.

November 11, 2014 Climate, Coal, Finance, Gas, Oil

Guardian: “Rich countries are subsidising oil, gas and coal companies by about $88bn (£55.4bn) a year to explore for new reserves, despite evidence that most fossil fuels must be left in the ground if the world is to avoid dangerous climate change.”

Falling oil price threatens junk energy bonds

November 10, 2014 Finance, Gas, Oil

FT: “A sharp drop in energy bond prices has pushed yields to their highest level in more than one year, casting a shadow on the outlook for the broad US junk bond market and highlighting the risks to investors who flocked to the debt in recent years.”