Natural gas industry experiencing ‘paradigm shift’

Liquefied natural gas has tremendous upside as a transportation fuel over the next several decades, speakers said Friday on the closing day of a mega-conference in Houston. The 17th International Conference & Exhibition on Liquefied Natural Gas brought together industry and government officials from around the world to discuss the past, present and future for [...]

Carbon bubble will plunge the world into another financial crisis

Trillions of dollars at risk as stock markets inflate value of fossil fuels that may have to remain buried forever, experts warn The world could be heading for a major economic crisis as stock markets inflate an investment bubble in fossil fuels to the tune of trillions of dollars, according to leading economists. “The financial [...]

4 Reasons For The Massive Drop In Oil Prices

Staying with the theme of bearish sentiment in commodity markets, crude oil came under severe pressure recently. Based on today’s data, US crude inventory actually declined last week, surprising some forecasters who expected crude stocks to continue rising. One would expect lower inventories to result in higher prices, but that did not occur. Source: EIA [...]

How the gold market was crashed

There’s been a recent huge draw down of physical gold at the New York COMEX and at the JPMorgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge. HOUSTON — we have a problem. Physical inventory drawdown at JPM Charts by Nick Laird of www.sharelynx.com [...]

Completing the European Internal Energy Market

Following a Communication from the European Commission (EC) last November, assessing the state of play of the internal energy market, to be completed by 2014, the European Parliament’s Committee on Industry, Research and Energy (INTRE) will vote on its own report in May. The EC’s document highlights the benefits of a truly integrated European market for [...]

Oil Price Is Getting Whacked

Oil is taking a beating this morning, along with other commodities like gold and silver. It’s been on a steady downtrend since yesterday, but the selling has really accelerated this morning amid several U.S. economic data releases that missed economists’ consensus estimates. Most notably, retail sales unexpectedly contracted in March, and consumer confidence plummeted as [...]

5 Reasons Why Oil Companies Get Away With Overblown Field Esimates

We’ve all seen the big headlines over the few past few years proclaiming various new oil fields. These stories often go on to claim how the Age of Oilquarius is now upon us and we will swim and bath in seas of energy until the sun explodes and the universe ends. We are often showered [...]

GE Increases Presence in Oil and Natural Gas with Acquisition

General Electric is moving to increase its presence in the oil and natural gas market with the purchase of Lufkin Industries. Lufkin makes oil field pumps and are the pumps everyone sees moving back in forth on top of oil wells. GE has been making huge moves in recent years in the oil and natural [...]

Kurds Sell First Oil Internationally, despite Baghdad Warning

The semi-autonomous region of Kurdistan has sold the first crude oil cargo on the international market despite a warning from the central government in Baghdad, the Patriotic Union of Kurdistan, or PUK, party said on its website Saturday. The PUK, which is chaired by Iraqi President Jalal Talabani, who is currently receiving medical treatment in [...]

BP Faults Deepwater Spill Claims Overseer

A federal judge denied BP PLC’s plea to halt payments from a settlement fund set up to reimburse businesses and individuals for losses from the 2010 Deepwater Horizon accident. During a hearing in New Orleans Friday morning, U.S. District Judge Carl Barbier rejected BP’s arguments that the fund administrator, Patrick Juneau, was misinterpreting how claims [...]

Rockefeller buys into Russian oil business

Stephen Clark Rockefeller’s UK-based oil company has reached an agreement with VTB Bank to purchase a 100% stake in Tehneftinvesta for $1 billion. VTB Capital facilitated the sale which give Rockefeller Oil over 180 million tonnes of oil reserves, and 20 billion cubic meters of natural gas, Kommersant newspaper reported on Thursday. Vitaly Kryukov, an [...]

Energy revolution sparks ‘peak oil demand’ theory

There’s a new ‘peak oil’ theory doing the rounds, this time with a twist: instead of an imminent peak (and subsequent decline) in global oil supplies that causes oil prices to soar, oil demand growth is expected to slow down more quickly than expected and this will result in lower oil prices going forward. In [...]

The Shocking Implications of the Rebuke of Peak Oil Theory

Peak oil theory has gained widespread recognition at various points over the past several decades, usually during times when fears about oil supply shortages have been at their highest. The theory, which espouses the very commonsensical view that the world’s crude oil resources are finite, essentially states that at some point in the future, oil [...]

Chevron Cuts CEO’s Pay

Chevron Corp. docked compensation for its chief executive and two other top officials over accidents last year, trimming bonuses and other incentive pay while increasing their salaries. The oil giant reduced the bonus for CEO John S. Watson by 13%, or $520,000, to $3.5 million. Mr. Watson’s salary rose by $100,000, to $1.8 million. Chevron [...]

Peak Urbanization?

Emerging markets are driving global growth, and 3.5 billion people are moving to cities. That’s $20 trillion of infrastructure to lay down. It’s either a big problem or an opportunity. — Peter Henry, dean of NYU’s Stern School of Business, New York Times Magazine. Global investors have focused on the opportunities offered by urbanization in [...]

Our Parasitic Fed is Triggering the Five Stages of Collapse

[Download MP3s: Hour 1: Our Parasitic Fed is Triggering the Five Stages of Collapse Hour 2: Our Parasitic Fed is Triggering the Five Stages of Collapse ] [itunes] Ellen Hodgson Brown and Dmitry Orlov will discuss the continuing collapse of western society thanks to the parasitic behavior of our banking establishment. With outright confiscation of [...]

The Great Disconnect – Markets Vs. Economyr

Last week I was swamped with interviews, both radio and television, to discuss the meaning of the markets hitting new all-time highs.  The general consensus of the analysts and economists that I was pitted against was that the rise in capital markets, given weak current economic data and a resurgence of the Eurozone crisis, is [...]

Peak Oil Is So Yesterday-Say Hello to Peak Demand

Peak oil—the theory that fossil fuel demand will, at some point in the unspecified future peak, outstrip supply and send prices spiking—has now given way to a new concept: peak demand. Last week, Citigroup commodity analysts floated the novel idea that the U.S. energy resurgence could mean that demand for oil “may be topping out [...]

Economics, fiscal competitiveness eyed for Canada, US tight oil plays

This report provides an assessment of the economics and fiscal competitiveness of the major tight oil plays in North America with a focus on Canada. Including fiscal competitiveness as part of the economics assessment is important because, while the costs of drilling in a given jurisdiction may be the same or higher, the fiscal costs [...]

China-Australia to Ditch US Dollar

A month ago we pointed out that as a result of Australia’s unprecedented reliance on China as a target export market, accounting for nearly 30% of all Australian exports (with the flipside being just as true, as Australia now is the fifth-biggest source of Chinese imports), the two countries may as well be joined at [...]

Destruction of Cyprus Economy Proceeding Ahead of Schedule

When I first heard about the Cyprus ritual execution bailout, I had thought that the widespread predictions that the island nation’s economy would contract by 20% to 30% over the next two years were off base. I thought it would happen much faster, on the order of two to three months. An estimated 45% (mind [...]

Why Death of Peak Oil Still Won’t Mean Cheap Crude Oil Prices

David Zeiler writes: Today (Wednesday) an analyst from Citigroup became the latest lemming to declare the death of peak oil. In a report entitled “The End is Nigh,” Seth Kleinman says a combination of flattening demand and rising supply will cause oil prices to slide slightly by the end of the decade to $80-$90 a [...]

James Altucher Talks Peak Oil and Investment Opportunities

James Altucher is the editor of the widely read letter, The Altucher Confidential. Porter and James have a lively conversation about the peak oil fallacy and whether or not parents should send their children to college. Plus, James provides his analysis on where he sees investment opportunities and even provides a few specific stock recommendations. [...]

China And Brazil Ditch US Dollar In Trade Deal

China and Brazil agreed to trade in each other’s currencies just hours ahead of the BRICS summit in South Africa. The deal, which extends over a three-year period and amounts to an exchange of about $30 billion in trade per year, marks the latest effort among two of the world’s largest emerging economies to shift [...]

The Next Energy Shortage: Big Oil CEOs

In recent years oil and gas companies have applied innovative technologies to make discoveries of vast new hydrocarbon resources. If only it were that easy for them to deal with a dire challenge above ground: identifying and training a new generation of qualified and prepared executives who are ready and willing to lead oil and gas companies [...]

Rosneft Becomes World’s Largest Listed Oil Producer

Russian state oil giant OAO Rosneft Thursday closed deals worth around $55 billion to take over TNK-BP and become the world’s largest listed oil producer, with BP PLC as a major shareholder. BP Chief Executive Officer Bob Dudley and Rosneft CEO Igor Sechin met with Russian President Vladimir Putin at his residence outside Moscow to [...]

Oil Industry’s fiscal impact

In a recent study, the oil and natural gas industry was measured to see what type of influence it had on the impact of the US economy in 2011 regarding employment, labor income, and value added. Value added refers to “the additional value created at a particular stage of production” as well as “a measure [...]

Pickens: US Doesn’t Need an Oil Reserve–Get Rid of It

he U.S. energy industry needs to be significantly reformed, including an evaluation — or complete elimination — of its strategic petroleum reserve, BP Capital founder T. Boone Pickens told CNBC on Tuesday. Adam Jeffery | CNBC T. Boone Pickens, Chairman BP Capital Management. The reformed Texas oil man is now one of the biggest proponents [...]

Why the war in Iraq was fought for Big Oil

Yes, the Iraq War was a war for oil, and it was a war with winners: Big Oil. It has been 10 years since Operation Iraqi Freedom’s bombs first landed in Baghdad. And while most of the U.S.-led coalition forces have long since gone, Western oil companies are only getting started. Before the 2003 invasion, [...]

Cyprus Targets Its Savers in Bailout Agreement

After markets closed on Friday, it was announced that Cyprus worked out a deal with the European Central Bank, European Commission, and the International Monetary Fund (“the Troika”). Here is a typical article reporting on the story. Cyrpus has been in desperate need of a bailout, and was in discussions as early as June last [...]

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