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Peaked Oil?


Peak Oil is back at least for now! U.S. oil futures soared after he Energy Information Administration (EIA) acknowledged that U.S. oil output will fall despite earlier predictions to the contrary only to fall back after the American Petroleum Institute reported a 12.2 million barrel increase in crude oil supply. The market seemed to ignore […]

The world’s largest oil companies are about to start devouring each other

The world’s largest oil companies are about to start devouring each other thumbnail

It was only a matter of time. The Wall Street Journal reports that international oil giant Royal Dutch Shell is in talks to buy BG Group, a giant shipper of natural gas with extensive holdings in Brazil’s oil fields. It may be the opening shot of a consolidation war that many have been expecting. The reason, […]

Big Guns Still Betting On Oil Comeback In 2015


Surprisingly, the flow of crude oil is still accelerating, much like the money going into crude oil funds. Three of the largest crude oil funds include USO, OIL, and UCO. UCO is unique due to the fact that it’s an exchange-traded fund that uses leverage, mostly in the form of derivatives, to correspond to twice […]

Pickens: Oil Could Hit $100 A Barrel

Pickens: Oil Could Hit $100 A Barrel thumbnail

Amid falling oil prices mostly due to fears of oversupply and a surging U.S. dollar, American business magnate and financier T. Boone Pickens said Tuesday that oil prices could reach $100 a barrel by the end of next year. The 86-year-old billionaire, who chairs the hedge fund BP Capital Management, also revised his previous forecast […]

Across American oilfields, layoffs and auctions

Across American oilfields, layoffs and auctions thumbnail

Convinced he can ride out the slowing fortunes of America’s oil and gas industry, Shawn Kluver arrived at Thursday’s heavy equipment auction with money to spend and bets to make. Kluver flew to Colorado from North Dakota on a one-way ticket, confident he’d find bargains to drive home. “Everyone says we’re crazy, but we’re hoping […]

The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just As Storage Runs Out

The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just As Storage Runs Out thumbnail

Less than two weeks ago we warned that based on the current oil production trend, the US may run out of storage for crude as soon as June. This is what we said back in early March when the BTFDers were hoping WTI in the low $40s would never again be seen: Come June, when […]

The Ins and Outs of Cushing

The Ins and Outs of Cushing thumbnail

During last week’s monthly joint web chat for subscribers of The Energy Strategist and MLP Profits, readers asked a number of questions about the crude oil storage situation that is currently dragging down prices. Some wanted to know who might benefit from the growing inventories of stored crude. One of my answers was that, since Cushing […]

Are The Good Times Over For Growth In US Shale Gas?


U.S. natural gas production could decline in 2016 for the first time in 10 years, driven by low oil prices after a decade of gangbusters growth from shale plays. While most analysts forecast gas production will continue growing year-over-year, albeit at a slower pace, a couple of outlier analysts believe low oil and gas prices […]

Will The Oil Markets Capitulate Before Demand Recovers


Is the U.S. shale industry at a tipping point? Oil prices fell to a six-week low on Friday after the International Energy Agency warned that the U.S. may soon run out of room to store all the oil being pumped out of shale plays across the country. As oil starts to back up, the worry […]

The gold:oil ratio is speaking

The gold:oil ratio is speaking thumbnail

As a believer in the power of diversification and inflation protection a basket of commodities can provide in a passive index framework, it is hard to grasp how much investors love oil and gold. It must be that oil is the biggest, most economically significant commodity, and gold is the shiniest, most prized metal – […]

The U.S. Oil Bust Just Got Worse

The U.S. Oil Bust Just Got Worse thumbnail

The price of oil did today what it has been doing for a while: it waits for a trigger and plunges. As I’m writing this, West Texas Intermediate is down 4.4%, trading at $44.99 a barrel, less than a measly buck away from this oil bust’s January low. It’s down over 20% from the peak […]

Shale sub-prime and the Ides of March


“Sub-prime” is the term by which became known the debt market segment that served low quality housing in the US. Essentially these were products supporting mortgages to low-middle class families, that in 2006/07, up against the simultaneous rise in interest rates and commodities prices, produced a wave of defaults that lead to the 2008 financial […]

BP CEO: ‘It’s going to be very painful’

BP CEO: ‘It’s going to be very painful’ thumbnail

“We’re back into the normal world of volatility for oil and gas prices,” he said on a CNBC-hosted panel. “Anything that happens that fast can have unintended consequences.” BP was the first European major to sound the alarm on tumbling oil prices – on December 10, it warned that it was implementing a cost-cutting program […]

North America will continue to build market share in global oil market

North America will continue to build market share in global oil market thumbnail

“Today’s low prices will encourage consumption” Today’s global oil market collapse is eerily reminiscent of the dot com crash of 2000. Like the 1995-99 hype accompanying the rise in internet stocks, over the last several years there has been enormous promotion of the “game changing” unconventional technologies used to develop North American shale and oil […]

If You’re An Oil Worker Who Lives Here, Move!

If You’re An Oil Worker Who Lives Here, Move! thumbnail

As crude prices drop back to cycle lows, breaking the back of the stability-meme, we thought a quick reminder of the world’s major energy projects that are completely FUBAR given the current prices, record production, and record inventories… Goldman maps the places “Not To Be”…   and here is Citi’s massive cost curve expectations for […]

Why oil decline could get ugly again


Still drilling at four-decade highs, the U.S. oil industry could help drive another price collapse in crude this spring. OPEC Secretary General Abdalla Salem el-Badri told a conference this past weekend that the cartel’s policy has hurt the U.S. shale oil industry and triggered a global reduction in capital spending that could ultimately lead to […]

Little Guys Lose Out On Oil Bonanza


Oil storage capacity in the U.S. is more than half full as commodities traders and some midstream firms take advantage of an inversion in the price of crude. Nymex futures contracts for U.S. benchmark West Texas Intermediate crude on Friday priced oil for delivery in January 2016 about 19% above the current spot price. That […]

Iraq, Iran and Libya are wildcards for oil


<p>Energy&#039;s crude realities </p> <p>Carl Larry, Frost &amp; Sullivan, discusses the impact of supply and demand pressure on oil prices.</p> Despite the meltdown in the oil market, prices are more likely to rise than to fall further because of geopolitical instability, an industry consultant told CNBC on Thursday. “Iraq, Iran, [and] Libya, history tells us […]

The Fracking Bust Exacts Its Pound Of Flesh

The Fracking Bust Exacts Its Pound Of Flesh thumbnail

Breathtaking booms and obliterating busts have made the oil and gas business. Booms draw money, which begets more money, which allows for technologies to be invented or perfected, and it builds enthusiasm that turns into blind faith among investors, and they throw more money at it. The money gets drilled into the ground. The debt […]

Global Oil Price Yardsticks Tell Different Stories


After dropping to close to a six-year low in January, the price of oil has rallied in recent weeks. But how strong is the recovery? Depends on who you ask. Looking at Brent, the global oil benchmark, the price is up more than 30%. But take West Texas Intermediate, the U.S. marker, and the percentage […]

Forget Peak Oil; Worry About Peak Demand


Brian Bagnell of Macquarie Capital Markets has two caveats for investors in junior oil and gas companies: Expect extreme volatility, and don’t expect oil prices above $70/barrel anytime soon. He tells the The Energy Report that the winners in this sector will demonstrate maximal efficiency and minimal costs, and that even in this time of […]

Canada’s Oilsands Face ‘Death Spiral’ If They Don’t Cut Costs


As the world’s oil glut continues to build, wiping out hopes of a price recovery, the head of one of Canada’s largest oilsands operators is warning the industry faces a “death spiral” if it doesn’t figure out how to cut costs. Speaking before the Chamber of Commerce in Fort McMurray, Steve Laut, president of Canadian […]

Oil-Drop Pain Spreads to Saudi Aramco

Oil-Drop Pain Spreads to Saudi Aramco thumbnail

Saudi Arabia’s refusal late last year to rein in oil production helped trigger the price crash that has hurt oil-producing countries and publicly listed energy companies alike. And now even the kingdom’s own oil company is feeling the pain. As a result, state-owned Saudi Aramco is looking for ways to cut costs everywhere, from pushing […]

Canada’s Oil Industry ‘In Near-Death Condition


Russian state-owned energy giant Rosneft is responding to sanctions slapped on it by the Harper government by talking down Canada’s oil industry. “In Canada the [oil] industry is in a near-death condition,” Rosneft spokesperson Mikhail Leontiev told the Russian News Service, as quoted at the Moscow Times. “This was sanctions against the departed, and I […]

A New Global Currency; the Rise of the East; and Peak Oil – Erik Townsend


Originally Published on Jun 3, 2014 John Jay College of Criminal Justice, The City University of New York Subscribe to the GoldMoney newsletter at Episode 126: Alasdair Macleod interviews Erik Townsend

The price of oil reaffirms the lesson of a legendary wager


When you look at a chart of the price of oil during the last six months, it says a lot of things. One of them is that Julian Simon has won again. I’d long known about the legendary Julian Simon-Paul Ehrlich bet, made in the early 1980’s at the tail end of a commodity boom. […]

Starting A Successful Permaculture Based Business

Starting A Successful Permaculture Based Business thumbnail

  Key Takeaways: Instead of looking at business as the enemy, look at green business. Use business to support yourself, fix the planet and create community. There is so much opportunity out there – “Find the intersection between your passions and your strengths and problems that need solving.” Permaculture is unique. It gives you a […]

The global financial system stands on the brink of second credit crisis


The world financial system stands on the brink of a second credit crisis as interbank lending shows increasing risk The world economy stands on the brink of a second credit crisis as the vital transmission systems for lending between banks begin to seize up and the debt markets fall over. The latest round of quantitative […]

Oil as Low as $20 Seen by Citigroup


Oil may drop more than 50 percent to “the $20 range” by the start of the second quarter as oversupply fills storage tanks close to capacity, Citigroup Inc. said. Signs of a slowdown in U.S. drilling don’t mean the crude glut will be eliminated, Edward Morse, Citigroup’s global head of commodity research, said in a […]

Here’s Why Big Oil Companies Are Unable To Increase Reserves To Counter Declining Production

Here’s Why Big Oil Companies Are Unable To Increase Reserves To Counter Declining Production thumbnail

According to the quarterly results announced during the past few weeks, major oil companies have reported a mediocre performance for last year, as far as exploration and production of crude oil and natural gas reserves is concerned. At the same time, companies have also reduced their capital spending budgets for this year, which might exacerbate […]

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