Blog Archives

Saudi Arabia “Takes the Gloves Off”: moment of truth arrives for US shale.

Mark Lewis for Kepler Cheuvreux (no url): “Despite the dramatic recent fall in oil prices, OPEC decided yesterday to maintain its current production quota of 30mbd, thereby compounding market fears of a short-term supply glut and prompting a further sharp drop in the Brent and WTI benchmarks (both down 6.3%… Read-more
Posted in Chronicle, Gas, Oil Tagged with: , , , , , ,

“OPEC Faces Off Against Shale: Who Blinks as Price Slides Toward $70?”

Bloomberg: “OPEC’s decision to cede no ground to rival producers underscored the price war in the crude market and the challenge to U.S. shale drillers.”… Read-more
Posted in Chronicle, Gas, Oil Tagged with: , , , , ,

UK government chief scientist compares fracking risk to thalidomide.

Guardian: “Fracking carries potential risks on a par with those from thalidomide, tobacco and asbestos, warns a report produced by the government’s chief scientific adviser.”… Read-more
Posted in Chronicle, Gas, Oil Tagged with: , , ,

Banks begin to face heavy losses as oil price falls.

FT: “Banks including Barclays and Wells Fargo are facing potentially heavy losses on an $850m loan made to two oil and gas companies, in a sign of how the dramatic slide in the price of oil is beginning to reverberate through the wider economy.”… Read-more
Posted in Chronicle, Finance, Gas, Oil Tagged with: , ,

61 US shale drillers owing $199 bn should fear lessons of 1986.

Bloomberg: “The last time that U.S. oil drillers got caught up in a price war orchestrated by Saudi Arabia, it ended badly for the Americans.”… Read-more
Posted in Chronicle, Gas, Oil Tagged with: , , , , ,

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

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… Read-more
Posted in Chronicle, Gas, Oil Tagged with: , , , ,

BGS admits ignorance of UK fracking impact absent monitoring.

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.”… Read-more
Posted in Chronicle, Gas, Oil Tagged with: , , ,

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

Bloomberg: “China has sharply cut its output target for shale, signaling the country’s drilling boom is fizzling out before it even gets going.”… Read-more
Posted in Chronicle, Gas, Oil Tagged with: , , ,

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

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.”… Read-more
Posted in Chronicle, Gas, Oil Tagged with: , , , ,

Ineos to invest £640m in UK shale gas exploration.

BBC: “Chemicals giant Ineos has announced plans to invest up to £640m in shale gas exploration in the UK. The company plans to use the gas as a raw material for its chemicals plants, including Grangemouth in Stirlingshire.”… Read-more
Posted in Chronicle, Gas Tagged with: , ,
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New despotism includes environmental sabotage, reckless capitalism, isolationist nationalism, incitement to racial and religious hatred, retreat from aid, war mongering, and the use of tech for social harm.

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