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Is the oil price fall more than just a coincidence?

Business

The recent drop in oil prices could be due to more than just lower demand, according to some analysts, who have suggested that the U.S. could be deliberately manipulating the market to hurt Russia at a time of geopolitical stress. Patrick Legland, the global head of research at Societe Generale, conceded that he had no […]


Russians and Chinese Are Ditching the Dollar and Europeans Are Using Renminbi in Their Reserves

Business

At present, US dollar accounts for roughly 61% of the world’s foreign exchange reserves. It’s still a safe bet for most, not because the currency is actually strong, but because so many others are already so reliant on it. Between those with reserves in and pegs to the US dollar, many countries have given their […]


End to Oil Collapse in Sight

Business

Some of the world’s biggest banks say the collapse in oil is just about over. Bank of America Corp. and BNP Paribas SA predict prices will hold above $80 a barrel. Commerzbank AG also sees that level as a possible low for Brent crude. They’re in part counting on OPEC cutting output — some say […]


The cure for a high oil price – is a high oil price. But where to next?

Business

I love the saying that the best cure for a high oil price is a high oil price. Mankind’s ingenuity ensures that the world always finds surprising ways to adjust to seemingly intractable economic challenges. Not long ago analysts were fretting about “peak oil” – and how the world would be able to cope with […]


Michael Lynch: Oil Prices And Costs Correcting Misperceptions

Business

The decline in oil prices, Brent dropping $15 a barrel in 8 weeks, has concentrated the minds of the oil industry, and raised the prospect of falling investment in oil production. This argument is used to support the idea of long term oil prices being above $100. The interaction between upstream costs and prices has […]


Chinese renminbi becomes directly tradable with the euro

Chinese renminbi becomes directly tradable with the euro thumbnail

The Chinese central bank, People’s Bank of China, issued a press release announcing the authorization of direct trading between the renminbi and the euro on the inter-bank foreign exchange market. This is huge. The euro is the second most traded currency in the world, after the US dollar. The European Union is already China’s biggest […]


Land O’ Lakes CEO: Food and agriculture will be the growth industry of our generation

Business

Move over, Silicon Valley. According to Land O’ Lakes CEO Chris Policinski, the high-growth industry of the future is food production. “We operate in what I think is the best growth industry of our generation. There might be someone here who disagrees with me if you’re in consumer electronics,” Chris Policinski told a crowd at […]


Rosneft CEO Says He’ll Develop Arctic Oil With or Without Exxon

Business

Bloomberg News interview with Igor Sechin, chief executive officer of OAO Rosneft, the world’s largest publicly traded oil producer by output, conducted Sept. 26 on a research vessel on the Kara Sea. On exploration in Russia’s Arctic Kara Sea: “The drilling at the structure Universitetskaya-1 is of exceptional significance, showing that Western Siberian deposits continue […]


Brent crude oil now has the biggest chunk of the GSCI

Brent crude oil now has the biggest chunk of the GSCI thumbnail

The S&P GSCI 2015 Rebalance Preview marks a historic shift in the benchmark renowned for its world production weight. According to this announcement of pro-forma weights, Brent crude oil is targeted take over WTI‘s status as the leading oil benchmark and the most heavily weighted commodity in the S&P GSCI. This is the first time […]


Brent Crude Heads For Bear Market Amid Swelling Supply

Business

Brent crude moved closer to a bear market on speculation rising global supplies will be more than enough to meet slowing demand. West Texas Intermediate ended below $90. Brent fell 4.9 percent this week, the worst performance since the five days ended April 5, 2013. OPEC September oil production rose to a one-year high and […]


Cheap oil ‘a mirage’ and heading to $140

Business

Don’t bank on cheap oil, MercBloc President Dan Dicker said Wednesday. Brent crude oil prices this week dropped 2.4 percent to $94.83 per barrel and West Texas Intermediate saw a 3.6 percent decline to $91.16 a barrel. Meanwhile, the U.S. dollar hit a four-year high. On CNBC’s “Halftime Report,” Dicker called cheap oil prices “a […]


Europe & China Start Direct Trading In Euros & Yuan As De-Dollarization Expands

Business

De-dollarization has been an ongoing theme hidden just below the surface of the mainstream media for more than a year as Russia and China slowly but surely attempt to “isolate” the US Dollar. Until very recently, direct trade agreements with China (in other words, bypassing the US Dollar exchange in bilateral trade) had been with […]


How Far Will the Shale Boom Go?

How Far Will the Shale Boom Go? thumbnail

The shale energy revolution has already upset the “peak oil” forecast, which predicted that the world will soon reach the point of highest physical oil output and thereafter global production will begin an inexorable decline. Now, in the context of the worsening political situation in the Middle East and Eastern Europe, its impact is being […]


Long And Wrong In The Oil Market

Business

Is Andy Hall on to something? The legendary oil trader is reportedly telling his investors that America’s shale energy boom will be coming to a swift end, sending oil prices skyward to $150 a barrel over the next five years. Such bold predictions helped Hall amass a small fortune; he was once awarded a $100 million bonus for his oil trading […]


The richest man in Saudi Arabia on oil, Isis and Murdoch

The richest man in Saudi Arabia on oil, Isis and Murdoch thumbnail

Gaze across the Riyadh skyline and one building immediately demands your attention. Towering high above the city, with its distinctive inverted arch, is the 992 ft Kingdom Center – owned by the richest man in Saudi Arabia, if not the Middle East. Prince Alwaleed Bin Talal Al Saud’s wealth has been estimated at anywhere between […]


The US Ponzi Economy

The US Ponzi Economy thumbnail

When the most persistent, most aggressive, and most sizeable actions of policymakers are those that discourage saving, promote debt-financed consumption, and encourage the diversion of scarce savings to yield-seeking financial speculation rather than productive investment, the backbone that supports a rising standard of living is broken. … Meanwhile, financial repression by the Federal Reserve has […]


Cheap Oil and Expensive Oil Tankers: This Is Contango

Business

During the last half of 2008, as the global economy ground to a halt, the price of oil fell from an all-time high of $145 a barrel to less than $40. A lot of people lost a lot of money. Just as in the stock market, though, the oil crash presented a chance to buy […]


Oil-Price Quirk Sends Crude Out to Sea

Business

 Big oil companies and traders are stashing millions of barrels of crude on massive tankers bobbing in the ocean, in a bid to profit from a quirk in oil markets. Instead of moving crude from one port to another, a growing number of tankers are serving as floating warehouses for companies including Sinopec Ltd. and […]


Bank commodity trading and the US Fed: An unfolding relationship

Business

Last week something serendipitous happened. I went to what was ostensibly a briefing and news broke out. The news was that the big French bank BNP Paribas, after some high-level recruitment from a decamping JP Morgan Chase, intends to try and rebuild North American physical electricity trading to go along with its existing natural gas […]


The Soft Patch In Oil Prices Is Here To Stay

Business

Summary The world has been living with expensive oil for the past decade. Expensive oil is associated with higher capex on exploration and production. The current oversupply of oil is a secular, not a cyclical phenomenon: expect the soft patch in oil prices to persist. One good way of estimating whether oil is expensive or […]


Bakken Providing Jobs, Economic Growth

Business

In a scene that is being played out in a number of areas across the country, residents of Williston, North Dakota are learning first-hand what a robust energy industry can do for a municipality. In fact, as economic development success stories go, few can top that of Williston, which has been going through a growth […]


New Sanctions to Stall Exxon’s Arctic Oil Plans

Business

Exxon Mobil’s ambitions in Russia appear to have been dashed, at least until the Ukraine crisis is resolved. As part of the latest round of sanctions against Russia, the United States government took aim at Exxon’s project in the Arctic Ocean, ordering American companies to cut off exports to Russian oil exploration within 14 days. […]


Data Avalanche and the ‘Great Crew Change’ in the Oil and Gas Industry

Data Avalanche and the ‘Great Crew Change’ in the Oil and Gas Industry thumbnail

In an August article for McKinsey Insights the authors – Stefano Martinotti, Jim Nolten, and Jens Arne Steinsbø – write that “the rapid progress of technology such as big data and analytics, sensors, and control systems offers oil and gas companies the chance to automate high-cost, dangerous, or error-prone tasks”, thereby positioning themselves to significantly […]


How Saudi Arabia Will Kick Its Oil Habit

How Saudi Arabia Will Kick Its Oil Habit thumbnail

Why you should care Because the world’s largest oil producer will soon run out of the “good sh*t.” How Saudi Arabia handles the transition will be a case study for future students everywhere. Saudi Arabia, the Middle East’s biggest economy and the world’s largest oil producer, is running out of its black gold. Some estimate […]


Drillers Piling Up More Debt Than Oil Hunting Fortunes in Shale

Business

Floyd Wilson raps his fingertips against the polished conference table. He’s just been asked, for a second time, how he reacted when his Halcon Resources Corp. (HK) wrote off $1.2 billion last year after disappointing results in two key prospects. Wilson once told investors that the acreage might contain the equivalent of 1.2 billion barrels […]


OPEC unfazed by oil’s drop below $100

Business

OPEC members seemed unconcerned by a slide in oil prices below $100 a barrel on Monday, with two officials from the producer group saying winter demand in coming weeks should support the market. Brent crude fell below $100 a barrel for the first time in 14 months, buckling on concerns about slower economic growth. [O/R] […]


Tesla’s Gigafactory Finds a Home in Nevada

Tesla’s Gigafactory Finds a Home in Nevada thumbnail

In a press conference Thursday afternoon, Nevada Governor Brian Sandoval and Tesla Motors CEO Elon Musk announced that the company’s groundbreaking battery manufacturing facility (called a “Gigafactory”) will be located in Nevada. Shortly after Tesla announced plans to build the Gigafactory in February, several states in the southwest scrambled to compete for the final location. […]


BP, found grossly negligent, may face $18 billion in gulf spill fines

BP, found grossly negligent, may face $18 billion in gulf spill fines thumbnail

Energy giant BP’s willful misconduct and gross negligence led to the worst offshore oil spill in U.S. history, a federal judge said in a ruling Thursday that exposes the company to billions of dollars in civil penalties. The Deepwater Horizon drilling rig, which BP leased and operated, exploded and sank in the Gulf of Mexico […]


Soros Signals Argentina’s Shale is Biggest Place to Be

Business

One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize – and a big boost for both supermajors and smaller players making big waves in the heart of new discovery areas. George Soros has doubled his […]


Trader Who Scored $100 Million Payday Bets Shale Is Dud

Trader Who Scored $100 Million Payday Bets Shale Is Dud thumbnail

Andrew John Hall — known as the God of Crude Oil Trading to some of his peers — has built his success on a simple creed: Everyone who disagrees with him is wrong. For most of the past 30 years, that has been a killer strategy. Like a poker player on an endless hot streak, […]


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@Obadiah6610 I bet it is hard to cut production! Hard to plug holes. #USURY + #PeakOil = Collapse: youtu.be/MPL2CReZaHI #MichaelRupert
#peakoil Saudi, Russia Pre-OPEC Talks Yield No Oil Output Cut: Impromptu talks between Saudi Arabia, fellow OP... bit.ly/1vL4lJx
#peakoil OPEC may decide to give Iraq, Iran, and Libya immunity from oil supply cut: Should OPEC decide to cut... bit.ly/1yTDc4L