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Energy Deathmatch: Oil Versus Natural Gas

Energy Deathmatch: Oil Versus Natural Gas thumbnail

The media loves to hate on coal right now. And the latest news about Obama wanting to massively cut carbon emissions at fossil fuel-burning power plants certainly isn’t helping. Don’t listen to the pundits. Coal isn’t going away anytime soon. Not with more than 40% of the world’s energy still being provided from coal generation. […]

Pemex, Mexico’s state oil giant, braces for a the country’s new energy landscape

Pemex, Mexico’s state oil giant, braces for a the country’s new energy landscape thumbnail

When Mexican President Enrique Peña Nieto arrived at the March rally, he was greeted like a rock star. Hundreds of local residents and employees of Petróleos Mexicanos had gathered in the state of Veracruz to celebrate the 1938 expropriation of foreign oil wells and the founding of Pemex. The workers, dressed in white shirts and […]

Canada Aims to Sell Its Oil Beyond US

Canada Aims to Sell Its Oil Beyond US thumbnail

Last fall, Canadian oil producer Husky Energy Inc. sent a batch of crude on a journey to India. It was just a drop in a sea of global oil transactions, but a step toward reshaping North American energy trading. The million-barrel shipment to Indian Oil Corp. 530965.BY +1.54% , described by Husky as a test […]

The peak-oil plateau and what it means for investors

The peak-oil plateau and what it means for investors thumbnail

Jim Rogers is one of the best-known commodity investors of our time. He correctly predicted the collapse of the stock-market bubble at the end of the 1990s and the rise of commodity prices in the 2000s. One of Roger’s mantras was that oil prices would rise substantially due to a lack of new discoveries. That […]

2014: Peak Oil Sands Investment?

2014: Peak Oil Sands Investment? thumbnail

Does the shelving of the Total SA Joslyn mine signal that the recent wave of oil sands investment has peaked? This past week, Total SA And their business partners decided to shelve the Joslyn Mine project, which places $11 bn in oil sands investment into the “unlikely” category. As an economist, I always look at other […]

Renminbi use surges in home of US dollar


It is the monetary equivalent of what Chairman Mao called “bombarding the headquarters”. China’s renminbi is rapidly displacing the US dollar as a trading currency not only in Asia and Europe but now also in the US home market. The value of renminbi payments between the US and the rest of the world rose by […]

The Promise of Mexican Oil

The Promise of Mexican Oil thumbnail

The miracles of modern engineering and, specifically, fracking and deepwater drilling are rapidly changing the risk-reward assessments of petroleum investment. When OPEC members meet in Vienna next week, the organization is scheduled to offer its latest assessment of global demand and projected production. And closer to home, U.S. oil titans are aligning with Mexico’s Pemex […]

BP And Royal Dutch Shell After Peak Oil

BP And Royal Dutch Shell After Peak Oil thumbnail

The oil industry used to be a no-brainer investment. There seemed to be an infinite supply of oil, and with more and more people owning cars, demand — and thus oil prices — were rocketing. This meant that oil companies would be booming. But has anyone asked the question: what happens when the oil runs […]

Canada’s high-cost oil and gas needs a competitive game plan


Canadian oil and gas companies will be competing head to head with lower-cost energy producers in the near future, and the country needs a better strategy to remain competitive in a post peak-oil world. According to a PwC report released May 30, Canada has four options when it comes to the future of oil and […]

Food Replacing Oil as China M&A Target of Choice

Food Replacing Oil as China M&A Target of Choice thumbnail

After spending the past decade and more than $200 billion acquiring mines and oilfields from Australia to Argentina, China’s attention is turning to food. The world’s most populous nation is confronting a harsh reality: For every additional bushel of wheat or pound of beef the world produces, China will need almost half of that to […]

Exxon, BP Defy White House; Extend Partnership with Russia


Several of the largest oil companies in the world are doubling down in Russia despite moves by the West to isolate Russia and its economy. ExxonMobil and BP separately signed agreements with Rosneft – Russia’s state-owned oil company – to extend and deepen their relationships for energy exploration. The U.S. slapped sanctions on Rosneft’s CEO […]

Big Oil Spending More, Getting Less in Production


Despite increased spending, oil majors are seeing flat or declining production as they struggle to replace reserves, according to a recent analyst report. Exxon Mobil Corp., Chevron Corp., Royalty Dutch Shell plc and BP plc recorded declines in their 2013 production. ExxonMobil reported an average production of 4,175 million barrels of oil equivalent per day […]

Putin’s Energy Trumps U.S. Sanctions as Rosneft Extends Reach


One by one, executives from some of the world’s largest energy companies climbed the dais to sign accords with OAO Rosneft (ROSN) chief Igor Sechin as Vladimir Putin stood behind his blacklisted ally, nodding approvingly. Executives from BP Plc (BP/), India’s Oil & Natural Gas Corp. (ONGC) and companies from Norway, Abu Dhabi, Venezuela, Vietnam, […]

Russia-China Natural Gas Pipeline to Create New Global Price Benchmark


Russia’s landmark deal to supply China with natural gas via pipeline over 30 years will have profound impacts globally and create a new price benchmark that may pressure other producers, as consumers choose from a variety of supply sources, according to analysts. OAO Gazprom on Wednesday clinched a contract with China National Petroleum Corp. (CNPC) […]

How investors can get ready for inflation


Last month was not a good one for inflation hawks, unless they were looking for validation. The U.S. consumer price index was up 0.3 percent in April, its largest increase in 10 months. And producer prices were up 0.6 percent – their biggest monthly rise since September 2012. Of course, that does not mean prices […]

Shell says fossil fuel reserves won’t be ‘stranded’ by climate regulation


* Oil major says fossil fuels will be needed through 2050 * Calls “carbon bubble” theory flawed in letter to shareholders * Says decarbonisation of energy sector will take decades * Predicts it could take rest of century to resolve climate change Royal Dutch Shell has dismissed the possibility that its proven oil or gas […]

Central Banks’ Balance Sheets, Interest Rates and the Oil Price

Central Banks’ Balance Sheets, Interest Rates and the Oil Price thumbnail

  In this post I present a more detailed look at developments in central banks’ balance sheets, interest rates and the oil price since mid 2006 and as of recently. Paper and digital money are human inventions. Most people truly believe it is money that powers the society and their lives because they have never […]

Markets Work Or, How The Economics Of The Oil Industry Is Changing


Two interesting things we can glean from this report in the WSJ into the economics of the oil business. The first being that some people can be a little confused about the economics of pricing, the second being that markets really do work. For the first one we have an assurance that oil prices aren’t […]

Oil Nations Put Out Welcome Mat for Western Companies


Some of the biggest oil producers in the world are about to make it a lot easier for Western oil companies to do business with them. For years, Mexico, Iran, Iraq, Algeria and Libya—most of them among the top 10 producers world-wide—were fiercely nationalistic when it came to oil. They either offered Western companies punitive […]

US entering oil export market may faze supply


Signals from Washington are getting clear. A new variable – the US crude – may soon be entering and indeed impacting the global crude markets. The US government is reportedly considering doing away with a four-decade-old law that bans the sale and export of American oil abroad. The ban was put in place in reaction […]

Tom O’Malley, Harold Hamm, oil woes in the Middle East, Russian benchmarks…all in one day


A few observations from day one of the Platts Global Crude Oil Summit in London: ————————————- One of the more interesting statements in the recent earnings call of PBF Energy was that the Tom O’Malley-led company might look to buy a refinery in California. It’s a locale O’Malley has operated in previously through Tosco and […]

Why Invest In Farmland?

Why Invest In Farmland? thumbnail

Everyone has to eat in order to survive and the production of almost all food can be traced back to farmland around the world in some way. Demand is growing for farmland as the world’s population and global needs for food increase. What many don’t realize is that the supply of farmland is not changing, […]

The US Economy Is A House Of Cards


The US economy is a house of cards. Every aspect of it is fraudulent, and the illusion of recovery is created with fraudulent statistics. American capitalism itself is an illusion. All financial markets are rigged. Massive liquidity poured into financial markets by the Federal Reserve’s Quantitative Easing inflates stock and bond prices and drives interest […]

Why Oil Prices Haven’t Gone Crazy


Why Oil Prices Haven’t Gone Crazy By Matthew Philips Bloomberg Businessweek Illustration by 731 The oil markets have plenty of reasons to be spooked. In Libya, home to Africa’s largest reserves, production has fallen more than 80 percent since militias seized control of the country’s biggest ports last summer. Most of Iran’s oil remains trapped […]

Energy Future Holdings files for Chapter 11

Energy Future Holdings files for Chapter 11 thumbnail

Echos of Enron?? Tuesday, Apr. 29, 2014 – “Dallas-based Energy Future Holdings filed for Chapter 11 bankruptcy protection early today after reaching a deal with creditors that calls for breaking off its power generation and retail arms in exchange for reducing debt. The bankruptcy petition was filed in Delaware….. ……KKR, TPG, Goldman Sachs and their […]

The Case for Lower Oil Prices


Here’s a puzzle: The U.S. is producing the most crude oil in decades, domestic stockpiles are at record highs, yet oil prices are near $100 barrel. What’s keeping prices aloft? The first piece of the puzzle is the way the U.S. prices its oil. The U.S. benchmark, known as West Texas Intermediate, or WTI, is […]

Gas: Rational Exuberance

Gas: Rational Exuberance thumbnail

Twenty-five years ago this month, the Hennessy Gas Utility Index Fund (GASFX) was established by the American Gas Association’s Finance Committee. During the past 25 years, GASFX has seen significant growth from $25 million in assets to $1.5 billion. Earnings per share and dividend returns have historically been between 3 and 5 percent and are […]

Oil Spills Are Good for the Economy

Oil Spills Are Good for the Economy thumbnail

Did you ever hear the story about a guy explaining the bright side of oil spills? You did not hear that story, because anyone who does that is a terrible person, and hopefully the human race collectively knows better, right? Wrong. A Houston-based oil pipeline company recently made that very flawed argument in a written […]

Shell Won’t Jump into New Russia Projects amid Ukraine Crisis


Oil majors are beginning to grow cool on new projects in Russia as U.S. and EU sanctions over Moscow’s actions in Ukraine make investment increasingly risky and after the Kremlin’s threat to review the West’s role in Russia’s energy industry, the world’s largest. “I don’t think we will be jumping into new investments in the […]

Russia hit by sanctions: How Big Oil is reacting


Major oil companies with interests in Russia scrambled Monday to respond to new U.S. sanctions against Russia, as the United States on Monday imposed measures against seven Russian government officials and 17 companies linked to President Vladimir Putin in its latest action to punish Moscow for its intervention in Ukraine. Standard and Poor’s ratings agency […]

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