Archive for the ‘Oil’ Category

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

October 11, 2014 Finance, Gas, Oil

Economist: “Thas 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.”
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“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?”
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“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.”
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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.”
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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.”
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Gillian Tett, prescient heroine of the MBS bubble, sees no shale bubble.

October 9, 2014 Finance, Gas, Oil

Gillian Tett on the FT: This winter Jim Ratcliffe, the British billionaire founder of Ineos, the chemicals group, is trying to spark a local shale gas revolution. He has offered to share 6 per cent of future revenues with communities or landowners if they work with Ineos to develop the energy source – far more than anything offered in the UK before.”
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66 out of 73 US shale drillers report higher reserves to public than to SEC.

October 9, 2014 Gas, Oil

Bloomberg: “Lee Tillman, chief executive officer of Marathon Oil Corp., told investors last month that the company was sitting on the equivalent of 4.3 billion barrels in its U.S. shale acreage.” That number was 5.5 times higher than the one Marathon reported to federal regulators.”
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Lego cans Shell partnership following Greenpeace campaign.

October 9, 2014 Climate, Oil

Guardian: “Lego will not renew its marketing contract with Shell after coming under sustained pressure from Greenpeace to end a partnership that dates to the 1960s.”
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Drilling rig numbers hit in a new record in the US as oil search spreads.

October 8, 2014 Nuclear, Oil

Bloomberg: “Rigs targeting oil in the U.S. surged to a record as drillers ventured outside the nation’s biggest basins to search for crude in developing plays such as the South-Central Oklahoma Oil Province, known as SCOOP.”
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“Shale boom tested as sub-$90 oil threatens U.S. drillers.”

October 8, 2014 Finance, Gas, Oil

Bloomberg: “The U.S. shale boom is producing record amounts of new oil as demand weakens, pushing prices down toward levels that threaten to reduce future drilling.”
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Glasgow becomes first university in Europe to divest from fossil fuels.

October 8, 2014 Climate, Coal, Finance, Gas, Oil

Guardian: “Glasgow University has become the first academic institution in Europe to divest from the fossil fuel industry, in a turning point for the British arm of the student-led global divestment movement.”
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Brent oil retreats to 28-month low.

October 2, 2014 Oil

FT: “Brent crude hit a 28-month low on Thursday while benchmark US oil dropped below the $90 a barrel mark for the first time since April 2013, pointing to significant stocks on both sides of the Atlantic.”
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Environmentalists’ appeal to foundations on climate: the full case.

October 2, 2014 Clean Energy, Climate, Coal, Commentaries, Finance, Gas, Oil
Jeremy Leggett in Recharge magazine: “Imagine two armies lining up for a make-or-break battle in a civil war. Envisage a group of financiers, worth hundreds of billions, most of whom want a certain side to win.”
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First commercial-scale CCS plant finally operational – & dependent on oil.

October 1, 2014 Climate, Coal, Oil

Guardian: ”Canada has switched on the first large-scale coal-fired power plant fitted with a technology that proponents say enables the burning of fossil fuels without tipping the world into a climate catastrophe.”
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How shills for the oil & gas industry bully people to invest in fracking.

October 1, 2014 Finance, Gas, Oil

An e-mail received. “This is the last time I’m going to write you about this. I’ve made numerous offers already, and this will be the final one Quite frankly, only a fool would sit on the sidelines on a bull market this big. ….Do you hate money?
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