Posts in Oil Price
- 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.
- The message from the markets for the North American oil industry is summed up in four simple words by the Financial Times today: “No respite for oil.”
- As war rages in Iraq, and oil and gasoline prices rise, the impotence of the US oil boom is exposed.
- Last week, President Obama lauded the fact that America was poised to become the number one energy producer in the world this year.
- One of the political mantras of those old boys at the American Petroleum is that if the gas price is too high it means we have to drill for more oil. Plain and simple. Its good old fashioned economics: supply and demand. If the price is too high, we must be faced with a physical...
Continue reading 'Regulator Acts Against Oil Speculators'.
- The subsidy battle raging in Washington at the moment is all about what are known as “production” subsidies. These are subsidies that are paid to the oil majors to keep the oil and gas flowing. But there is also another type of subsidy: this is where governments, often in countries producing oil or developing countries,...
Continue reading 'The High Cost of Keeping Gas Prices Low'.
- Until Sunday night one of the main talks of the town in Washington was gas prices. Now the talk of the town is Bin Laden’s death. Oh and gas prices. Because the issue of high gas prices is not going away any time soon. A 36 per cent rise in the last year put pays...
Continue reading 'As Gas Prices Remain High, US Becomes Net Exporter of Fuel'.
- Many people are now getting jittery about Saudi Arabia. Protesters in the Kingdom have called for a “day of rage” his Friday to show their dissatisfaction with King Abdullah’s regime. Meanwhile the King has tried to head off serious unrest in the country by pledging to boost spending on housing, social welfare and education. And...
Continue reading 'OPEC’s “Fictional” Comfort Blanket'.
- The press reports this morning that members of Opec have joined Saudi Arabia in boosting oil output to make up the fall in output from Libya. The countries concerned – Kuwait, UAE and Nigeria – have all promised to boost production. In many ways you could argue that OPEC’s gamble is trying to delay the...
Continue reading '“An oilquake that shakes our world to its core”'.
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