Archive for the ‘Oil’ Category

“Has Saudi Arabia lost control of the oil market?”

October 16, 2014 Oil

Nick Butler on the FT: “Conspiracy theories abound around the oil price fall. A 25 per cent drop in less than three months is certainly exceptional and the assumption is that in a politically driven market a political decision by someone, somewhere must have forced prices down.”

Slowdown and Ebola fears push down stock markets and price of oil.

October 16, 2014 Finance, Oil

Guardian: “Fears of a worldwide economic slowdown and anxiety about the spread of Ebola reverberated around stock markets Wednesday, driving shares around the world sharply down and pushing the price of oil to a four-year low.”

Opec tests US shale oil production with low prices.

October 15, 2014 Oil

Bloomberg: “OPEC is resisting pressure to cut oil production while demand slumps as it tests how low prices must go to make U.S. shale oil unprofitable. As producers become more efficient, that floor is sinking.”

Fracking company appeals against UK council planning rejection.

October 15, 2014 Gas, Oil

Guardian: “A fracking company is lodging an appeal against a county council decision to refuse it permission to explore for oil and gas. West Sussex county council’s planning committee refused the application by Celtique Energie for oil and gas exploration near Wisborough Green, a conservation area just outside the South Downs national park, in July.”

“Welcome to the energy transition”: Times special report.

October 15, 2014 Clean Energy, Climate, Coal, Commentaries, Gas, Oil

The Times: “It is tempting to be selective and take sustainability success stories, such as the positive climate stance of President Obama, Rockefeller Foundation divestment, and record-breaking solar power generation in China and Germany, as evidence of a global tipping-point moment for the clean and green agenda.”

Fossil fuel companies found paying lip-service to climate risks.

October 14, 2014 Climate, Gas, Oil

Carbon Tracker press release: “New research by the Carbon Tracker Initiative (CTI) today reveals that 99% of sampled coal, oil and gas companies recognise climate change poses a risk to their businesses – but perpetuate investor uncertainty with only 7% of companies providing evidence of adequately integrating this risk into corporate project and capital expenditure assessments.”

UK fracking companies can use “any substance” under homes.

October 14, 2014 Gas, Oil

Guardian: “The UK government plans to allow fracking companies to put “any substance” under people’s homes and property and leave it there, as part of the Infrastructure Bill which will be debated by the House of Lords on Tuesday.”

IEA cuts oil demand forecast.

October 14, 2014 Oil

FT: “The price of oil tumbled nearly three dollars a barrel on Tuesday after the west’s energy watchdog cut its forecast for oil demand growth in a sign of the darkening outlook for the global economy.”

“Falling oil price raises questions on viability of shale”: FT.

October 14, 2014 Gas, Oil

FT: “Plunging share prices for US oil and gas companies in recent days have highlighted a potentially decisive factor in the looming crude price war: investor confidence.”

Mark Carney: most fossil fuel reserves can’t be burned.

October 13, 2014 Climate, Coal, Finance, Gas, Oil

Business Green: “The governor of the Bank of England has reiterated his warning that fossil fuel companies cannot burn all of their reserves if the world is to avoid catastrophic climate change, and called for investors to consider the long-term impacts of their decisions.”

Reuters: “Privately, Saudis tell oil market- get used to lower prices.”

October 13, 2014 Oil

Reuters (exclusive): “Suadi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.”

EU subsidies: for every € going to solar, 0.67 goes to coal.

October 13, 2014 Clean Energy, Climate, Coal, Finance, Gas, Oil

EU Press release: “The functioning of energy markets and the size and effect of government interventions has been the subject of debate for years. To date however, a consolidated dataset for government interventions in the power market of the European Union has been missing.”

Australian government bullies ANU after divestment decision.

October 13, 2014 Climate, Coal, Finance, Gas, Oil

Guardian: “The government has been accused of bullying the Australian National University, after Joe Hockey criticised it for divesting from a number of fossil fuel companies.”

Exxon accuses divestment movement of fuelling global poverty.

October 13, 2014 Climate, Finance, Gas, Oil

National Journal: “Exxon Mobil is wielding its public relations might against the fossil-fuel divestment movement, signaling that climate-change activists have struck a nerve at the world’s biggest publicly traded oil and gas company.”

Carney on carbon-bubble risk: “vast majority of reserves are unburnable”.

October 12, 2014 Climate, Coal, Finance, Gas, Oil

Emerging Markets: “A public call by Bank of England governor Mark Carney that the vast majority of oil reserves should be considered “unburnable” if the world wants to avoid catastrophic climate change makes him stand out among mainstream figures.”

“The price of oil has been tumbling. The cost of finding it has not.”

October 11, 2014 Finance, Gas, Oil

Economist: “This been a nerve-racking summer for oil companies. Since June the price of a barrel of Brent crude oil—the global benchmark—has slumped from $115 to $92, a decline of 20% and the lowest for more than two years.”

“Is the shale boom built on a sea of lies?”

October 10, 2014 Gas, Oil

Tyler Durden on Zero Hedge: “One of, if not the biggest contributors to the improving US trade deficit and thus GDP (not to mention labor market in select states) over the past several years, has been the shale revolution taking place on US soil, which has led to unthinkable: the US is now the biggest producer of oil in the world, surpassing Saudi Arabia and Russia. Which is great today, but what about tomorrow?”

“Here’s why shale oil stocks are tanking.”

October 10, 2014 Finance, Gas, Oil

Bob Pisani on CNBC: Why are shale plays getting hit so hard? The short answer is, because oil is dropping. West Texas Intermediate has gone from $105 to $85 in three months. But a large part of the problem has to do with the way shale drilling is financed.”

Pollution levels hit 20 times safe limit in northern China.

October 10, 2014 Climate, Coal, Oil

Guardian: “Days of heavy smog shrouding swathes of northern China pushed pollution to more than 20 times safe levels on Friday, despite government promises to tackle environmental blight.”

Oil sinks to $88, share prices plunge.

October 10, 2014 Finance, Oil

FT: “Fears about weakening global growth drove oil prices to a four-year low on Friday, at the end of a turbulent week for financial markets that also saw world share prices drop to their lowest in seven months.”