Our Blog
Effect of Crude Exports
On the heels of the Arab Oil Embargo of 1973, the crude oil export ban seemed to make sense. With an acute oil shortage it seemed reasonable to keep as much at home as possible, when a great deal of our supply was dependent on Arab nations intent on punishing us for our support of… Read More
Shale’s Future
Innovation and creativity have typified the shale revolution since its inception. Conceived in the union of horizontal drilling and advances in hydraulic fracturing, a new industry was born. Consequently, previously known, but uneconomic, reserves were finally productive. With prices over $100 per barrel the boom was on. When prices dropped to $50 per barrel, shale… Read More
OPEC’s Forecast
“World Oil” reports that OPEC has released its annual “World Oil Outlook” which includes their predictions for global demand, supply and prices. While the primary focus is from now until 2020, the report also includes projections out to 2040. The most recent OPEC forecast calls for demand for its crude sliding through 2020 as supplies… Read More
First Domestic Crude Export in Decades
On Friday, December 18, President Obama signed into law legislation lifting the crude oil export ban which had been in effect since 1975. Enterprise Products Partners has wasted no time in acting on this new opportunity. The following Wednesday, December 18, the company announced its first export cargo of 600,000 barrels. The crude is scheduled… Read More
Induced Earthquakes
“Rigzone” reports that the Oil and Gas Division of the Oklahoma Corporation Commission has ordered a halt to operations at 2 disposal wells and curtailed injection volumes at 23 others in the Cherokee-Carmen area of the state. This action was prompted by concerns that injection activity was causing earthquakes. The United States Geological Survey (USGS)… Read More
