Posts in oil industry outlook
- Last week we exposed ExxonMobil’s Outlook for Energy as a corporate fantasy rather than a forecast. ExxonMobil's head of public affairs called our work ill-informed and "odious" but chose not to answer our arguments...
- And so the free-fall continues. The price of Brent crude has fallen this morning below $60 a barrel for the first time since July 2009. The price of US crude is below $55.
- The US shale industry faces a Darwinian struggle over the next few months as only the fittest producers will survive as the price of crude plunges to $50 a barrel, the Bank of America has warned.
- It is billed as Europe’s Number 1 shale gas conference. Next week, over 500 people will descend on Poland for the 5th annual “Shale Gas World Europe” conference.
- The oil industry is in surprisingly bullish mood. As America prepares to go to the polls today in the crucial mid-term elections, Republicans have signalled that, if victorious, they will immediately push to free up exports of gas and oil and pass legislation forcing him to approve the controversial Keystone XL pipeline.
- The "clock is ticking". "Little time left". The "Starkest Warning Yet". The "Final Warning". Just four of the headlines from around the world of yesterday's UN report on climate change.
- There has been a huge amount written over the last few days about the plummeting oil price. One British newspaper is warning of an “oil war” as the price of Brent crude “tanks” on the back of oversupply in the market.
- Is the fracking boom set to go spectacularly bust?
- If you believe the press reports, you’d think that the oil industry was hurting of late, what with the headlines coming out of the most recent quarterly earnings reports saying things like, “Exxon and Shell Earnings Disappoint,” and “Occidental quarterly profit lower”, and “Chevron 2nd-Quarter Profit Off 6.8%; Upstream Earnings Fall”. These headlines paint a...
Continue reading 'Oil companies continue to profit at the expense of our future'.
- Contrary to what most people believe, oil supply capacity is growing at such an unprecedented level that it might soon outpace consumption. This could lead to overproduction and a steep dip in oil prices. That is the startling conclusion from Leonardo Maugeri, a former senior executive with Italian oil giant ENI, who is currently a...
Continue reading 'Bye, Bye Peak Oil'.
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