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North American Natural Gas Seeks Markets Overseas

North American Natural Gas Seeks Markets Overseas thumbnail

A slew of multibillion-dollar coastal projects compete to ship super-chilled LNG to Asia and Europe. A refrigerated ship designed for liquefied natural gas (LNG) is towed into harbor on the island of Malta in 2013. The vessel was converted into a receiving facility and is now moored off the shore of Italy. North America’s natural […]


New York, Bakken and crude oil by rail: where is the love?

Business

The crude-by-rail industry is not feeling so much of the “love” in New York’s “I Love New York” slogan these days. Governor Cuomo has put a target on the backs of those moving Bakken oil in particular, which some recent tests have shown has the volatility of gasoline. That spells trouble for the crude, more of […]


Crude Plummeted as Sanctions against Russia Unlikely Affect Supply

Business

Commodities gave up previous gains and end the day in red as there were few breakthroughs after the Crimean referendum result showed that the majority of voters favor joining Russia. Crude oil prices declined with the front-month WTI contract losing -0.82% and the Brent crude contract tumbling -2.16%. Gold also lost ground as investors took […]


EPA Lifts BP Suspension, Debarment from Federal Contracts

EPA Lifts BP Suspension, Debarment from Federal Contracts thumbnail

The U.S. Environmental Protection Agency (EPA) on Thursday lifted its suspension and debarment of BP Plc from entering federal contracts after the company pled guilty in its role in the Deepwater Horizon incident in April 2010. Under the administrative agreement, which will take effect immediately and last five years, BP is required to retain an […]


Long Term, Is Natural Gas Better Than Oil?

Business

The chart below from the Energy Information Administration shows current projections for U.S. energy production. Notice that crude oil production is slated to peak by around 2020 and then slowly decline. In contrast, natural gas is expected to keep climbing through 2040. Source: EIA Furthermore, prices for natural gas are projected to climb from their […]


BP chief executive’s pay triples in 2013

BP chief executive’s pay triples in 2013 thumbnail

The pay of Bob Dudley, BP‘s chief executive, tripled last year despite the legal threats still hanging over the company from the Deepwater Horizon disaster. The oil boss received $8.7m (£5.2m) in salary, bonus and share awards last year, according to the company’s annual report, compared with $2.6m in 2012. When contributions to his pension […]


Economist Warns of Collapse Risk: “Will Not Allow Life to Continue As We Know It”

Business

Earlier this week we noted that an invasion of the Ukraine by Vladimir Putin would likely lead to a complete destruction of U.S. stock markets. It’s not so much the invasion force itself, but rather, the economic maneuvers that would come with it should Russia take this course of action. Well known economist and founder of […]


Will LNG prices in Asia continue to be oil-linked?

Business

The simple answer to that question is that there is no simple answer. Historically, LNG prices were linked to oil because LNG was displacing oil and that practice continued until US LNG export projects were proposed. Buyers from the US export projects will get LNG based on Henry Hub gas prices because in most cases […]


Brazil prepares for the second great LNG bailout

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Brazil should give up electricity for Lent, a Rio de Janeiro-based analyst told Interfax on Wednesday, with a touch of gallows humour. However, it is no laughing matter: the hydropower-dependent country has just recorded the second-driest January in 80 years, and the prospect of electricity rationing looms. The 100 days between Carnival and kick-off for […]


The well is running dry for big oil

The well is running dry for big oil thumbnail

Last week, I mused on the death of cars and big-picture factors working against the auto industry, including urbanization and declining driving rates in younger Americans. Now, I’ll trot out my crystal ball again and offer you another prediction: This is the beginning of the end for Big Oil, too. Now before you jump down […]


Yuan to supersede dollar as top reserve currency

Yuan to supersede dollar as top reserve currency thumbnail

The tightly controlled Chinese yuan will eventually supersede the dollar as the top international reserve currency, according to a new poll of institutional investors. The survey of 200 institutional investors – 100 headquartered in mainland China and 100 outside of it – published by State Street and the Economist Intelligence Unit on Thursday found 53 […]


Clouds on the horizon for fracking companies?

Business

The Oil & Gas Journal has published an article with the headline, “Chesapeake mulls spinoff, sale of oil field services division“. The article is especially interesting since Chesapeake is one of the largest companies in fracking. On Chesapeake Energy Corporation’s website one can read that they are the second largest producer of natural gas and […]


Bakken Shale Oil Carries High Combustion Risk

Bakken Shale Oil Carries High Combustion Risk thumbnail

Crude oil from North Dakota’s Bakken Shale formation contains several times the combustible gases as oil from elsewhere, a Wall Street Journal analysis found, raising new questions about the safety of shipping such crude by rail across the U.S. Federal investigators are trying to determine whether such vapors are responsible for recent extraordinary explosions of […]


Peak Oil is Real and the Majors Face Challenging Times

Peak Oil is Real and the Majors Face Challenging Times thumbnail

The idea that global oil production was nearing its peak, only to plateau and then decline was a common view in the energy world for many years. The geophysicist M. King Hubbard predicted in the 1950’s that US oil production would peak in the 1970’s, a forecast that held true until technology allowed companies to […]


How to Sustain Energy Industry for Growth

Business

While consumers benefit from energy independence and stable prices, some of the most vocal opposition to the industry comes from those who fear the new technologies that make price stability possible, according to a group of panelists from the public and private sectors that addressed the oil and gas industry at the recent Winter NAPE […]


Expert Warns of Hyperinflation: “The American Way Of Life Will Be Destroyed”

Business

If there’s one thing that’s certain about what’s happening in the world right now  it’s that uncertainty is pervading every aspect of the global economy. From fabricated employment statistics and consumer spending reports to obscene levels of debt and a failing domestic monetary policy, the writing is on the wall. According to top Casey Research analyst […]


Big numbers for New England electricity auction might not be enough to bring new capacity

Business

Many generators cheered the recent results of ISO New England’s forward capacity auction.  The market cleared at what one analyst called an “astonishing” price of $15/kW-month. That is five times the clearing price in the last year’s auction. The high price, prompted by a sudden swing from surplus capacity to a deficit, should be enough […]


Oil Firms Seen Cutting Exploration Spending

Business

Global oil firms, hit by one of the worst years for discovery in two decades, are about to cut exploration spending, pulling back from frontier areas and jeopardising their future reserves, industry insiders say. Notable exploration failures in high-profile places such as Africa’s west coast, from Angola all the way up to Sierra Leone, have […]


Food, Water, and Fuel Are Necessary to Life and Investors

Business

Interview with Bob Moriarty Bob and Barb Moriarty brought 321gold.com to the Internet over 10 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Bob was a Marine F-4B […]


Why gasoline could spike 10 percent in the near future

Why gasoline could spike 10 percent in the near future thumbnail

Gasoline could jump anywhere from 15 to 40 cents a gallon over the next several months, but it could be one of the cheapest summer driving seasons in several years. GasBuddy.com predicts that more expensive gasoline is on the horizon, as refiners go into annual maintenance mode for the shift to summer fuels. Regular gas […]


America’s “Black Gold” Rush Is Leading To Soaring Homelessness

Business

Lured by the promise of jobs created by the oil and gas boom, unemployed people are flocking to North Dakota en masse. This is heralded by many in the mainstream media as great news – labor mobility at its best – however, there is a darker side: rents are surging and finding a place to […]


Oil Companies Secretly Got Paid Twice For Cleaning Up Toxic Fuel Leaks

Business

A pioneer in cleaning up toxic messes, Thomas Schruben long suspected major oil companies of being paid twice for dealing with leaks from underground fuel storage tanks – once from government funds and again, secretly, from insurance companies. Schruben, a detail-oriented Maryland environmental engineer who helped draft government pollution rules going back 30 years, looked […]


Iran to Offer Oil Investors Better Terms Than Iraq

Business

Iran, bound by economic sanctions and seeking investment to help develop its oil and natural gas, plans to offer international energy companies more attractive contracts than neighboring Iraq, an Oil Ministry adviser said. The Islamic republic is developing a new type of contract that’s “in line” with international practice and law, Mehdi Hosseini, who leads […]


Hyperinflation – 10 Worst Cases

Hyperinflation – 10 Worst Cases thumbnail

Inflation is hot property today, hyperinflation is even hotter! We think we are modern, contemporary, smart and ready to deal with anything. We’ve got that seen-it-all-before, been-there-done-it attitude. But, we are not a patch on what some countries have been through in the worst cases of hyperinflation in history. Here’s the top 10 list of […]


Peak Oil: Investment Issues # 3

Business

CAPEX, AGAIN [T]he 2013 WEO has the oil industry’s upstream capex [see this and this] rising by nearly 180 per cent since 2000, but the global oil supply (adjusted for energy content) by only 14 per cent. The most straightforward interpretation of this data is that the economics of oil have become completely dislocated from […]


$5/gal benzene: Here to stay, or recurring but shortlived fad?

Business

If you sell, buy or trade benzene or any of its derivatives, you have heard this assertion before: Five-dollar-a-gallon benzene is a reality. It’s here to stay. It’s not a new one. In fact, you probably first heard in early- to mid-2012, or earlier if you are really plugged in, as they say. Benzene prices […]


NYMEX No Future For Crude Oil Futures

Business

According to Leah McGrath Goodman’s well-researched book “The Asylum: The Renegades Who Hijacked the World’s Oil Market”, the start of Nymex oil trading was in major part due to traders who stumbled upon oil futures after screwing up Maine potato futures. Their trading “industry” or gambling party had been built on predicting the Maine potato harvest, […]


Big oil companies find it harder to turn a buck

Big oil companies find it harder to turn a buck thumbnail

Judging by pump prices, drivers might think oil companies were rolling in profits that only move higher. Lately, though, the big boys in the global oil industry are finding that earning a buck isn’t as easy as it used to be. Royal Dutch Shell, for instance, just announced that fourth quarter earnings would fall woefully […]


The New Wildcard in the US Energy Poker Game

Business

Talking to countless energy executives in recent years, I can vividly recall conversations with various senior leaders of major energy companies who adamantly told me the price of natural gas would remain depressed for years to come. Ever a ‘glass half full’ debater, I often posed the very simple question: What if natural gas prices were […]


Looking for Energy in All the Wrong Places

Business

With the surprising deep and long freeze, liquefied natural gas (LNG) importers are suddenly busy. The busiest import terminals and regasification facilities are found in the northeast, including New Brunswick, Massachusetts, Maryland and Georgia.  They are owned by Repsol (French), GDF Suez (French), Dominion Resources (D) and Kinder Morgan’s (KMI) El Paso Pipeline Partners (EPB). […]


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