We expect that most of our readers are aware that oil prices are way down this year and that the new OPEC strategy may mean that it may be several years until we see $100 per barrel oil again, if ever. The impact on gasoline prices in the U.S. is also easily garnered from the price … Read More
We reported in our June Newsletter that the difference in price between the Canadian heavy oil benchmark Western Canadian Select (WCS) and the U.S. light crude benchmark WTI had narrowed to $8 a barrel (bbl). This was remarkable in light of the much wider differential of $15-25/bbl that had become common since around 2010 (see … Read More
The EIA’s Reference Case forecasts show us the energy future we need to avoid for a safe climate. Yet the Obama Administration uses these forecasts as the basis for drilling in the Arctic and elsewhere on Federal Lands and the Outer Continental Shelf.
An examination of crude-by-rail data shows that the U.S. east coast has become one of the busiest regional destinations for hazardous crude-by-rail traffic. Oil Change International used publicly available Department of Energy (EIA) data as well as subscription data from Genscape to examine the growth of crude-by-rail to one of the most densely populated areas … Read More
Canadian oil industry watchers noted a Canadian oil price recovery in April and May as the heavy oil benchmark Western Canadian Select (WCS), climbed back from a 2014 trough of $28/bbl below West Texas Intermediate (WTI) in July 2014 to a high of $8/bbl below WTI in mid-May 2015 (see Figure 1). Of course, in … Read More
Oil Change International- May 2015 Download Briefing The Canadian tar sands is among the most carbon-intensive, highest-cost sources of oil in the world. Even prior to the precipitous drop in global oil prices late last year, three major projects were cancelled in the sector with companies unable to chart a profitable path forward. Since the … Read More
Just days after inadequate new safety rules from PHMSA, yet another oil train accident shows that we must stop these dangerous trains now.
This post was co-authored by Shakuntala Makhijani and Lorne Stockman. Oil, gas, and coal prices all fell dramatically in 2014, but North American fossil fuel industry* profits still totaled a healthy $257 billion. These profits were a modest 22% less than 2013, with the declines unsurprisingly concentrated in the upstream fossil fuel industry. The coal mining … Read More
The U.S. Energy Information Administration’s (EIA) annual flagship report, the Annual Energy Outlook (AEO) 2015 was published April 14 and launched with a presentation at the Center for Strategic & International Studies (CSIS). The brief discussion of CO2 emissions by EIA Administrator Adam Sieminski exposed just how blind the EIA currently is toward crucial climate … Read More
For Immediate Release May 1, 2015 Obama Administration Leaves Explosive Oil Trains on the Rails for Years Long phase-out of hazardous cars, inadequate speed limits, deficient tanker shells leave communities at risk of catastrophe Washington, D.C. — Today the Department of Transportation (DOT) released long-awaited new safety standards for rail tank cars used to haul … Read More