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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
Shell’s Best Bet
After Shell bought BG Group Plc, for $53 billion, crude prices slumped further. Critics quickly questioned the wisdom of the size and timing of the acquisition. Nevertheless, Shell CEO, Ben Van Beurden, pressed on, stressing the strategic importance of the deal. Now, “World Oil” reports that the market is exonerating Van Beurden. A significant majority… Read More
Energy Leasing Practices
Aubrey McLendon was no stranger to controversy. “Rigzone” reports that one controversy that involved him will survive his demise. The day before his death, McClendon had been charged by the U. S. Justice Department with violating the Sherman Antitrust Act. Allegedly, he had been co-ordinating a scheme in which oil companies agreed not to bid… Read More
Fracing as a Political Football
In spite of her previous general support of fracking, Hillary Clinton seems to be driven to the left in her contest with Bernie Sanders for the Democratic nomination. She now favors aggressive federal regulation of fracking, saying she would not support it in states or communities that don’t want it, when it causes pollution, or… 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
