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oil prices

Energy Stocks Waiting On Economic Developments

Tomorrow morning we will get the first preliminary estimate for U.S.

Media Doesn't Know Natural Gas From Gasoline

CNBC had an interview the morning with John Hofmeister, the former head of Shell's U.S. operations and now heading up Citizens For Affordable Energy.  The story on CNBC's web site that accompanied the video clip of the interview totally mixed up the impact of the falling drilling rig count in the U.S. with gasoline pump prices.  =>Continue Reading

Oil Prices Soar on Economic News and G20 Meeting

As we write this blog, WTI prices are up over 7% this morning with crude oil trading slightly under $52 a barrel.  Yesterday, oil prices were in the $47-$48 range as the value of the US dollar was rising and the weekly inventory numbers were sour.  =>Continue Reading

U.S. Energy Demand Contraction Documented

Yesterday, the U.S. Energy Information Agency released its March 2009 Energy Monthly Report showing that total energy consumption fell 2% in 2008 while total energy production rose by 3.3%.  These trends help explain the sharp fall in hydrocarbon fuel prices during the second half of last year.  In the month of January, total energy consumption increased 2% from the same month in the prior year, but by December it was down 3%.  =>Continue Reading

Energy and Environment Changes Are Coming - Prepare for Heat

Sunday's New York Times carried several columns discussing the impending need for dramatic action on carbon emissions before the damage from global warming overwhelms the world.  One column was by Thomas Friedman arguing that if one follows climate science you see that some of the world's best (I'm not sure who determines that status) scientists they are warning that climate change is happening faster and will bring bigger changes quicker thn we anticipated just a few years ago.  Could the fact that there is a meeting of climate change scientists and government policy makers in th

Future Oil Supply At Risk - Price Spike Risk Increased

A new study is scheduled to be released today by Cambridge Energy Research Associates (CERA) detailing why they believe the fall in oil prices will mean less future oil supply.  The outcome is a greater risk of an oil price spike sometime within the next five years.  Of course, the key to the timing of a crude oil price spike will be the pace of demand for oil, which is currently suffering through its second consecutive year of falling global oil consumption. =>Continue Reading

Suncor and Petro-Canada: Is the Merger Genie Out of the Bottle?

This morning Suncor and Petro-Canada announced plans to merge in a stock-for-stock transaction valued at $15 billion.  With the assumption of $3 billion in debt, the total transaction is valued at $18 billion.  This deal is the 5th largest global M&A transaction this year and the 6th largest Canadian deal ever.  It is the 10th largest oil and gas merger ever and the largest energy deal since December 2006 when Norsk Hydro and Statoil ASA agreed to merge in a deal valued at $30 billion. =>Continue Reading

OPEC Speaks: Urges Greater Member Compliance With Cut

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The 152nd meeting of the oil ministers of the members of OPEC ended Sunday afternoon with a press release announcing that the organization was urging its members to fully comply with current production quotas.  The press release discussed the reduced global economic projections and their negative impact on oil demand.  =>Continue Reading

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