“The typical American male devotes more than 1,000 hours a year to his car”, so wrote the Austrian philosopher Ivan Illich way back in 1974.
oil industry outlook
Oil Bottoms Out, But is US Shale Too Wounded to Respond?
Eventually what goes down, must come up. And to the relief of everyone in the oil industry, the global energy watchdog, the International Energy Agency (IEA) believes that there are signs that oil prices “might have bottomed out.”
For Big Oil to Survive “It Needs a Fundamental Rethink”
The low oil price continues to cause carnage with the oil industry and increasingly once-untouchable US shale companies. Indeed, the Saudi strategy to kneecap the American fracking industry looks not only like it is paying off, but will not be reversed anytime soon.
High Noon in Houston
The big beasts of the global oil industry will gather today at one of the most important events in their calendar – the IHS CERAWeek conference in Houston, which is often dubbed the Davos of the energy industry.
Business Model of Big Oil “Fundamentally Flawed”
Written anywhere but the Financial Times, an article on the future of the oil industry might just pass you by.
Tar Sands Companies “Selling Crown Jewels” to Survive
Desperate times mean desperate measures. Something has to give. With no end in sight to the low oil price, Canadian tar sands companies are having to sell what are being described as their “jewels in the crown” in order just to survive.
Is Oil Industry’s $1.6 Trillion Debt Bubble Going to Burst?
Earlier this week, a little glimpse of hope for the oil industry concerning a respite in the oil price plunge all but vanished after it emerged that a “make or break” meeting over the weekend between key OPEC players had ended with no agreement on cutting production.
BP Posts Worst Financial Results For 20 Years
Oil giant BP sent shock-waves through the industry this morning with what has been described as a “jaw-dropping” loss.
UK Government Bails Out North Sea; Gives “Nothing to Solar”
Last week, the British Prime Minster, David Cameron, flew to Aberdeen, the oil capital of the UK to announce £250 million emergency funding to “prop up the North Sea oil industry”; which is reeling badly from the low oil price.
Dozens of US Oil Companies Face Ratings Downgrade
Some of the world’s best known oil companies, including Shell, BP, Statoil and Total, face the humiliation of having a ratings downgrade, the internationally respected ratings agency, Moodys, has warned.