Posts in Oil Price
- In a sign that the oil price plunge is really beginning to bite, yesterday oil giant Royal Dutch Shell announced that the company is indefinitely postponing plans to develop a new tar sands mine in northern Alberta.
- Everywhere you look there is carnage in the oil industry as the reality of low oil prices begins to bite. From North America, to the North Sea and the Arctic, the low crude oil price is reshaping the size, shape and prospects of the industry.
- The EPA's comments point to the fact that at current oil prices the pipeline would certainly trigger additional production in the tar sands, and thus significant additional emissions. Thus Keystone XL clearly fails the President’s climate test...
- Just how low can the oil price go? What was unthinkable even a few months ago is now becoming distinctly probable, even likely. As analysts dissect the ramifications for the oil industry of $40 dollar barrel, oil traders are now thinking that the price of crude will halve that to a staggering $20 a barrel. Prices have not been that low for twenty years.
- The new year has started just like the old one ended, with the oil price continuing its downward slide. This morning oil dropped to five and a half year low as over supply continued to spook the markets.
- 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.
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