Oil & Gas 6 results

Arctic Ocean Drilling Off Limits

The Arctic ocean may be forever off limits to offshore oil drilling. President Obama announced on Tuesday that he is calling for a permanent ban on offshore oil and gas drilling along large areas of the Arctic and the Atlantic Seaboard. Invoking an obscure provision from a 1953 law, the Outer Continental Shelf Lands Act, Obama is confident that it gives him the authority to act unilaterally. President Obama has put this into effect to protect his legacy of clean environmental policies from ...

Uncertainty is The Only Guarantee: Oil Market In 2017

Conflicting reports are coming in about the future of the oil industry. OPEC announced higher than anticipated demand for OPEC crude in the second half of 2017. However, inventories at the Cushing, Oklahoma hub rose again marking the sixth build in seven weeks according to the Energy Information Administration. The story is still unclear whether the production cut by OPEC will have the intended impact on the oil market and how quickly it will happen. It’s still not set in stone as of now ...

Crude Slips Yet Again: OPEC Pumping At An All Time High

Crude oil prices continue to plummet as inventories from around the world skyrocket. On November 3rd, Manufacturing Talk Radio reported a 3% drop in WTI crude, the US benchmark as data began coming in regarding OPEC’s (Organization of Petroleum Exporting Countries) production levels. This dramatic drop in price came after a relatively lively rebound in the markets back in October. The rebound appeared to be caused by OPEC’s announcement surrounding the resolution of internal disputes which ...

The Riches and Perils of the Fossil Fuel Era

If nations could agree a carbon tax, it would help create a more efficient, less polluting future Our ancestors lived in eras we call the Stone Age, the Bronze Age and the Iron Age. Ours is the “fossil-fuel age”. The energy we have extracted from the earth’s reserves of fossilised sunlight has spread (unequally shared) abundance across humanity. Will this continue? Can we manage its impact on our environment? The answers will shape the future of our complex global civilisation. As ...

Russian Energy Deal Comes at Contentious Time

LONDON — Even in more normal times in the oil industry, Westerners doing business with Russians seldom have a smooth ride. But in a period of ultralow prices and Western sanctions against Moscow, this is a particularly contentious moment to be in an energy deal with a Russian oligarch. Just ask John Browne, the former chief of the British oil giant BP. On Monday, he became executive chairman of an energy company controlled by the oligarch Mikhail M. Fridman — on the same day that Mr. ...

U.S. Fracking Boom Won’t Bring Manufacturing Home: Analysts

While cheap natural gas and oil is drawing petrochemical companies back to the United States, companies that produce consumer goods are unlikely to follow because of high labor costs, a partner with the strategy and management consulting firm AT Kearney said in Chicago Wednesday. “The thought of actually shutting down capital investments in other parts of the world completely and bringing them back to the U.S. for energy advantage, we think that’s just overstated. It doesn’t make ...