Pandemic Year Has Not Accelerated The Death Of Big Oil

In some circles, the question is increasingly being raised whether, among the many victims of the COVID-19 virus, may be the large, multinational oil and gas companies. Indeed, the 2020 reductions in travel and work hit energy companies hard. At the same time, a growing awareness of the potential devastation from climate change – think […]

Massive ship blocking the Suez Canal brings billions of dollars in trade to a standstill

The massive container ship Ever Given has been stuck in the Suez Canal for three days, halting billions of dollars in trade as vessels pile up at both ends of the waterway. More than 150 ships are waiting to pass through the 120 mile canal, according to estimates from research firm StoneX. Images captured from […]

We need a carbon price, can manage it regionally: Repsol deputy CEO

The world needs a carbon price in the transition to a lower-emissions economy and should not wait for global consensus on the issue, the deputy CEO of Spanish energy group Repsol told an oil and gas conference on Tuesday. “Definitely we will need a carbon price,” Luis Cabra told the online CERAWeek event. Governments can […]

It’s Too Late for Big Oil’s Pivot to a Carbon Tax

The American Petroleum Institute is debating whether to support a price on carbon. It’s not every day that a top lobbying group contemplates taxing itself. That’s big news, and it’s tempting to call it a win for the climate. Not so fast. While API’s expected endorsement is indeed a sign of the times, it’s not […]

What the future holds for Exxon

“We are committed to playing a leading role in greenhouse gas reductions consistent with the goals of the Paris agreement…” Thus spoke Exxon (XOM) CEO Darren Woods at Exxon’s investor day this week. For most chief executives, supporting the Paris climate agreement at this point is a no-brainer. For the CEO of Exxon—a company that […]

Oil at $100?: Supercycle predictions divide veteran traders

Two of the biggest banks on Wall Street are calling a new “supercycle” in oil, with JPMorgan Chase and Goldman Sachs both predicting prices will soar when the pandemic abates. The most bullish forecast has international crude prices staging a comeback towards the US$100-a-barrel region — a level not reached since 2014. The expected surge […]

Oil Price Supercycle is a Meme

Analysts at Standard Chartered have noted that the recent rise in crude oil prices has been accompanied by mounting levels of discussion of a crude oil price supercycle. These analysts, however, think the concept of an oil supercycle is “seriously flawed”. “We understand its attraction to analysts and the media,” the analysts said in a […]

Peak oil demand is coming – but first brace for an almighty supply crunch

The world has turned its back on austerity. Keynesian reflation doctrines are triumphant. The Biden administration explicitly aims to run the US economy hot, with the help of the Federal Reserve.Global “green deals” amount to $16 trillion. “It’s going to turbo-charge oil demand in 2022,” said John Hess, head of ess Corp.This spending may be […]

A Market Crash AND High Inflation?

Imagine for a moment that the price of all your investments — your stocks, your retirement portfolio, your house — suddenly drop in half this year. Now imagine that on top of that inflation suddenly picks up, making your cost of living skyrocket. That would be pretty awful, right? Well, this might not be just […]

Where Energy Modeling Goes Wrong

There are a huge number of people doing energy modeling. In my opinion, nearly all of them are going astray in their modeling because they don’t understand how the economy really operates. The modeling that comes closest to being correct is that which underlies the 1972 book, The Limits to Growth by Donella Meadows and others. This […]

For energy giant Shell, the era of peak oil has already arrived

Royal Dutch Shell Plc said its carbon emissions and oil production have peaked and will decline in the coming years as the company laid out a detailed plan for its transition to cleaner energy. In a sign of how much the petroleum industry has shifted away from its mantra of growth and exploration, Shell said […]

Oil’s Recovery Is Too Fast for Its Own Good

The OPEC+ alliance of oil producers will face a big test of its cohesion in a few weeks’ time, when ministers meet to discuss the next step in their historic production deal aimed at rebalancing the world’s oil supply with recovering demand. Things have almost moved too quickly in their favor. Recent increases in crude […]

Oil Up, “Up and Away” Over Positive Signs of U.S. Economic Recovery

Oil was up Friday morning in Asia to its highest levels in year, ending the week on a strong note over producers’ commitment to continued supply cuts and positive signs of U.S. economic recovery. Brent oil futures rose 0.41% to $59.24 by 11:02 PM ET (4:02 AM GMT) and WTI futures rose 0.73% to $56.64. […]

After a Bruising Year, the Oil Industry Confronts a Diminished Future

Big oil companies lost billions in 2020 because of the pandemic and face broad questions about how they will adapt to climate change and regulations. HOUSTON — Big Oil isn’t so big anymore. Exxon Mobil, BP and other large oil companies collectively lost tens of billions of dollars last year, posting their worst performance in […]

BP Says Electric Car Chargers Aren’t Profitable Yet

BP Plc isn’t yet turning a profit on its car-charging stations, but the U.K. oil giant expects that to change as more electric vehicles come onto market. “I would not say we are breaking profits in all spaces there,” Christian Girardeau, electrification director at BP, said Tuesday at the BNEF Summit in San Francisco. But […]

Exxon, Chevron Have Discussed A Merger

Just this past Friday, we lamented that amid the marketwide meltup, one of the very few companies that actually deserves to be higher with or without the help of WSB, oil giant Exxon, simply refuses to do so, and so we begged Melvin Capital to short it (although it now appears that Gabe Plotkin is […]

Big Oil Knows How This Is Going To Go

The “supermajor” oil companies collectively known as Big Oil are having a time of it, in large part because of the pandemic, obviously, but also because we are swiftly moving towards a post Peak Oil era. Big Oil knows this, and it’s doing what it can to get in on what’s next. Take Royal Dutch […]

Why The Future Still Means Fossil Fuels, For Now

  Despite some news reports that suggest the green ambitions of the US Democratic Party could spell doom and gloom for traditional oil and gas companies, Franklin Equity Group’s Fred Fromm and Matt Adams see signs that increased demand for fossil fuels in select developing countries could offset any potential demand slump in developed countries […]

Peak Oil and the Long Descent Down the Mountain

Electric vehicles, plastic alternatives, electrification of industrial processes – and more – are set to cut into demand for oil. In fact, we may have already reached a peak for the amount of oil produced in a single year, an idea known as ‘peak oil’. This week, Switched On speaks with oil demand analyst David […]

The Oil Industry Is In Dire Need Of Investment

The global oil market is in flux once again. The bulls are fighting it out with the bears as COVID lockdowns come into force around the world. Oil prices may have hit 10-month highs on the back of extended production cuts from OPEC+ but black clouds have re-emerged on the horizon as the majority of […]

Peak oil? This T. Boone Pickens fund is swapping fossil fuels for renewables

The ETF, the NYSE Pickens Oil Response Fund, or BOON(BOON) , will become RENW, the Pickens Morningstar Renewable Energy Response Fund, in mid-August, embracing a strategy that “seeks to identify companies that are leaders in the transition to a low-carbon economy,” fund managers said in a filing (https://www.sec.gov/Archives/edgar/data/1540305/000089418919004394/a497trilinestickers.htm). (https://www.sec.gov/Archives/edgar/data/1540305/000089418919004394/a497trilinestickers.htm)Pickens indirectly controls TriLine Index Solutions LLC, […]

Will 2021 Be The Year Of Green Energy Stocks?

Looking back, 2020 will be a thick chapter in the history books. This year will be remembered for all kinds of catastrophes, from public health to economic devastation. But it may also be remembered as the turning point for clean energy and the year that changed the world’s trajectory away from certain catastrophic climate change […]

Supermajors Are Betting Big On Carbon Credits

“PEAK OIL IS SUDDENLY UPON US” blared a Bloomberg Green headline earlier this month. While the COVID-19 pandemic has been devastating for many economic sectors, few were as hard hit as the oil industry, which saw oil prices drop below zero in a historic bottoming out during what some are now referring to as “Black […]

Peak Oil and the Long Descent Down the Mountain

Electric vehicles, plastic alternatives, electrification of industrial processes – and more – are set to cut into demand for oil. In fact, we may have already reached a peak for the amount of oil produced in a single year, an idea known as ‘peak oil’. This week, Switched On speaks with oil demand analyst David […]

Energy Majors Announce Transition Principles

Several energy majors revealed Thursday that they have agreed to apply six principles as they play their part in the energy transition. The principles – which have been accepted by BP (NYSE: BP), Eni (NYSE: E), Equinor (NYSE: EQNR), Galp, Occidental (NYSE: OXY), Repsol, Royal Dutch Shell (RDS.A) and Total (NYSE: TOT) – comprise the […]

Setting Your Portfolio Up for “Peak Oil”

Last time we talked, I told you about the best energy plays available now that energy stocks are coming back into favor with investors. As I said, near-term demand remains an issue for big oil companies. The economic fallout of COVID-19 has caused problems for the energy sector as cars and planes are not moving […]

‘Is Exxon a survivor?’ The oil giant is at a crossroads

Over the last 135 years, Exxon Mobil has survived hostile governments, ill-fated investments and the catastrophic Exxon Valdez oil spill. Through it all, the oil company made bundles of money. But suddenly Exxon is slipping badly, its long latent vulnerabilities exposed by the coronavirus pandemic and technological shifts that promise to transform the energy world […]

Tesla and EVs didn’t brake for the pandemic, and now the age of oil is ending

During the first nine months of 2020, car sales cratered, with every major automaker seeing a steep drop in sales as the pandemic raged across the globe. That is, of course, every major automaker except Tesla. Despite the world practically stopping due to the pandemic, the Silicon Valley-based electric car maker sold more cars than […]

World’s Top Oil Trader Retiring From Shell

Royal Dutch Shell Plc is shaking up its mighty in-house trading unit, with the retirement of Mark Quartermain as head of crude — a job widely seen as the most powerful in the global oil-trading industry. The Anglo-Dutch oil major used the reshuffle to promote at least three women to top positions in trading, a […]

The turning point of 2020

Close your eyes. Take yourself forward in time to 2050, and then look back to 2020. What will you see? What will the historians of the future say of this time? What was the trajectory that the world embarked on after it? Was it a turning point, or just a blip in the flowing trends […]

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LATEST NEWS HEADLINES

• Kuwait’s State Oil Company to Seek Up to $20 Billion of Funding
• Pandemic Year Has Not Accelerated The Death Of Big Oil
• This Land Is Your Land….
• Saudi Aramco CEO expects higher oil demand in 2021
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• China Splurges On Iranian Oil Despite US Sanctions
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• Oil settles near $70/bbl on hopes of recovering demand
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