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Gas Exports to Canada
The shale revolution resulted in a surplus of gas, especially in the Marcellus shale area of Pennsylvania, West Virginia and Ohio. As a consequence, prices plummeted and gas producers had to scramble to find new markets. Some of the cheap gas replaced coal for power generation. The abundance also gave rise to a number of… Read More
At the Bottom?
“World Oil” reports that the International Energy Agency (IEA) thinks that oil prices might be turning the corner. Increasing demand, falling inventories, and production declines both within, and outside of, OPEC, could lead to a price recovery by the second half of this year. The IEA anticipates global demand rising by 1.2 million barrels of… Read More
Chronic Oversupply
A recent article in “World Oil” contends that Saudi Arabia’s real enemies are not U. S. shale producers, surging Iraqi production levels, arch-nemesis Iran, or Russia. Rather, it is a global oil glut of over 1 billion barrels which has been accumulating since 2014. This inventory of oil will keep accumulating until the end of… Read More
Yergin’s Take
“World Oil” reports on Daniel Yergin’s comments at the Global Financial Markets Forum in Abu Dhabi recently. Yergin, the author of The Prize, a Pulitzer Prize winning history of the oil industry, is regarded as one of the foremost authorities on energy matters in the world. Yergin is more optimistic regarding the potential impact of… Read More
From Kicking the Can to Kicking the Bucket
“Rigzone” reports that a study by accounting and consulting firm, Deloitte, found that out of 500 publicly traded oil and gas exploration and production companies, roughly 175 were at risk of bankruptcy. Falling prices have necessitated budget cuts and thousands of layoffs, but this will still not be enough for some operators. The oil and… Read More
