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EIA: Oil firms’ deficit between spending and cash balloons to $50 billion


The plunge in crude prices cost oil companies some $35 billion in operating cash flow in the second quarter, compared to the same period last year, the U.S. Energy Information Administration said Thursday. And though the collective of 97 western oil producers the EIA studied has cut billions in spending this year, they still invested […]

Oil-Dollar Breakdown


There is an almost dogmatic belief that the price of oil and the dollar have an inverse relationship. While in recent years, the dollar/oil inverse correlation has been very tight, throughout history that has not always been the case. In fact in the oil market and that of other commodities, we may be on the […]

U.S. oil waits out decline


West Texas Intermediate crude oil has dropped in price more than 50 percent this year. The International Energy Agency, meanwhile, reports rising oil inventories. Whether the dramatic fall in oil prices indicates a short term dip or a permanent deterioration, oil companies are cutting back — even borrowing — to maintain dividends and keep shares […]

Saudi Aramco says Amin Nasser appointed as CEO


The world’s biggest oil firm Saudi Aramco has picked a career petroleum engineer who oversaw its biggest projects of the past decade, Amin Nasser, to lead it through a price downturn and a market share battle. The announcement from the Saudi Arabian state company ends five months of uncertainty about the new boss at the […]

An Economics Argument For Low Oil Prices


Summary The microeconomics model of residual demand describes the decisions of oil producers very accurately, and can be used to anticipated producers’ reactions to changes in the market. The residual demand model shows that it does not make sense for individual producers to cut production unless they believe that others will cut as well. Both […]

Lord Of The Flies: Dystopia Is Arriving


Paper money eventually returns to its intrinsic value – zero  – Voltaire I was driving around Denver yesterday doing my “boots on the ground” due diligence scouting of the local housing market.  I continue to see some “sold” and “under contract” signs but I’m seeing a pile-up forming in new “for sale,” “price reduced,” and “for […]

Capital Markets Now Control Oil Prices

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Bond markets and banks may determine who lives and who dies in the U.S. shale patch. From the concrete canyons of Lower Manhattan to the shale basins of West Texas, a new report from Citigroup underscores the degree to which Wall Street has financed the U.S. oil boom, with analysts warning that the slow grind of lower oil […]

What’s Behind the Whipsaw Moves in Oil Prices?


Brookshire Advisory and Research’s Gianna Bern discusses the whipsaw moves in the price of oil with Bloomberg’s Alix Steel and Scarlet Fu on “Bloomberg Markets.”

Oil’s Race to the Bottom and the Global ‘New Normal’


William Lee of Citi Economic Research discusses the role oil is playing in market volatility and the global economy. He speaks on “Bloomberg Surveillance.”

Lies You Will Hear As The Economic Collapse Progresses


It is undeniable; the final collapse triggers are upon us, triggers alternative economists have been warning about since the initial implosion of 2008. In the years since the derivatives disaster, there has been no end to the absurd and ludicrous propaganda coming out of mainstream financial outlets and as the situation in markets becomes worse, […]

Oil Industry Needs to Find Half a Trillion Dollars to Survive


At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it. The number of oil and gas company bonds with yields of 10 percent or more, a sign of distress, tripled in the past […]

Oil Production: the War for Market Share


Citi Commodities Strategist Ivan Szpakowski discusses the meltdown in commodities, the increase in oil production and what can be done to correct the slump. He speaks to Bloomberg’s Rishaad Salamat on “Trending Business.”

Market Panic Goes Global as China Impacts the World


Alarm bells rang across world markets on Monday as a near 9 percent dive in China shares and a sharp drop in the dollar and major commodities panicked investors. European stocks were almost 3 percent in the red and Wall Street was braced for similar losses after Asian shares slumped to 3-year lows as a […]

The Divergence Of Rig Count, Oil Price And Production Explained


Summary Since June, oil prices have plummeted 30% on concerns of a worldwide supply glut. Paradoxically, during this same period, the oil rig count has climbed by 74 rigs or 7%. This article analyzes this relationship between rig count and oil price to predict in which direction the rig count will move next. It also […]

Approaching A Global Deflationary Crisis?


Anyone with any sense for global economic trends ought to be worried. The signs are everywhere of a serious deflationary crisis. It is obvious that Chinese growth is falling. The prices for energy and the raw materials that feed the growth economy keep falling. The demand for Chinese exports is down too. Stock Markets in […]

Oil companies need to resurrect stalled projects


Are we in an oil bust worse than the famous crash of 1986? The investment bank Morgan Stanley thinks so. Oil companies have scrambled to cut costs and shore up their financial positions, and the industry has adopted the mantra that prices will be “lower for longer”. But with no consensus about how much lower […]

Russia’s Energy Giant Implodes


It was not too long ago that Gazprom, the state-controlled energy conglomerate, was one of the Kremlin’s most potent geopolitical weapons. But those days now seem like a distant memory: Gazprom is a financial shadow of its former self. The speed of Gazprom’s decline is breathtaking. At its peak in May 2008, the company’s market […]

Financial Experts That Are Warning A Great Financial Crisis Is Imminent


Will there be a financial collapse in the United States before the end of 2015?  An increasing number of respected financial experts are now warning that we are right on the verge of another great economic crisis.  Of course that doesn’t mean that it will happen.  Experts have been wrong before.  But without a doubt, […]

Exxon, Chevron Bracing for Dark Times Ahead

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Exxon Mobil Corp. and Chevron Corp., the biggest U.S. energy producers, hunkered down for a prolonged stretch of weak prices after posting their worst quarterly performances in several years. Exxon reported its lowest profit since 2009 as crude prices fell twice as fast as the world’s largest crude producer by market value could slash expenses. […]



If you are a precious metals investor, you need to see this chart.  Matter-a-fact, this is the first time (to my knowledge) in the history of precious metals analysis that the information in this chart has been made public.  One look at this chart and the investor will see the the huge difference between the […]

I Just Got Laid Off … Now What?


So you’ve just been laid off … and you’re hit with a whirlwind of emotions. And you begin to ask yourself the following questions: What do I do now? How will I feed my family? Where will I find work? All of these questions are valid concerns, but it’s important to remember you’re not alone […]

The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral


As far-fetched as the notion may be to those who are wedded – by choice, by misguided beliefs, or by virtue of being completely beholden to the perpetuation of the status quo – to idea that the dollar will forever retain its status as the world’s reserve currency, the yuan is set to play a […]

Why Oil Prices Could Go Even Lower


On today’s “Deep Dive,” Bloomberg’s Alix Steel and Joe Weisenthal take a look at oil prices. They speak on “What’d You Miss?”

Saudi Arabia’s Sabic Considering Shale Gas Investments in U.S.

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Saudi Basic Industries Corp., the world’s second-biggest chemicals manufacturer, plans to expand investment in U.S. shale gas projects through joint ventures, according to acting Chief Executive Officer Yousef al Benyan. Sabic, as the company is known, signed an agreement with Houston, Texas-based Enterprise Products Partners L.P. to get shale gas, al-Benyan said in an interview […]

After Deadly Blast, 2.7 Million Barrels of Pemex Oil Go Missing


Petroleos Mexicanos seems to have misplaced 2.7 million barrels of oil. Since a deadly blast on April 1 tore through one of its offshore platforms, the state oil giant has baffled industry analysts with its assessment of the damage. Pemex has said the disaster, its deadliest this year, affected about 1.5 million barrels of production. […]

How plunging oil prices have created a volatile new force in the global economy

How plunging oil prices have created a volatile new force in the global economy thumbnail

He’d spent years touting his vision that America would one day dominate one of the world’s most powerful markets. And when Harold Hamm, a pioneer in discovering vast reserves of shale oil under American soil, took the stage in front of several hundred oil luminaries, he never acknowledged that the narrative was in doubt. “For […]

The good oil boys club

The good oil boys club thumbnail

IT SHOULD have been a day of high excitement. A public auction on July 15th marked the end of a 77-year monopoly on oil exploration and production by Pemex, Mexico’s state-owned oil company, and ushered in a new era of foreign investment in Mexican oil that until a few years ago was considered unimaginable. The […]

How the plunging price of oil has set off a new global contest

How the plunging price of oil has set off a new global contest thumbnail

He’d spent years touting his vision that America would one day dominate one of the world’s most powerful markets. And when Harold Hamm, a pioneer in discovering vast reserves of shale oil under American soil, took the stage in front of several hundred oil luminaries, he never acknowledged that the narrative was in doubt. “For […]

Never mind Iran. Oil price is going nowhere


  Crude oil came under renewed pressure Tuesday as Iran and six world powers announced they had reached a deal on Tehran’s nuclear program. But Citigroup’s head of commodities research played down the impact of Iran’s potential return to the oil market, saying traders shouldn’t expect much net price movement in crude futures. “In six […]

Cyberattack on U.S. Power Plants Could Cause $1T in Economic Damage

Cyberattack on U.S. Power Plants Could Cause $1T in Economic Damage thumbnail

Lloyd’s of London games out “improbable, but not impossible” threat of hacking, power-plant sabotage Let’s imagine an “improbable, but not impossible” cyberassault on the U.S. power grid. A shadowy group of skilled and malicious actors spend years implanting a piece of malware, dubbed the “Erebos” trojan, in the control systems of power plants across the […]

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