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Oil’s Recovery Is Too Fast for Its Own Good

Business

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

Business

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

Business

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

Business

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

Business

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

Big Oil Knows How This Is Going To Go thumbnail

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

Business

  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

Business

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

Business

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

Business

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?

Business

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

Business

“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

Business

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

Business

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”

Business

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

Business

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

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

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

Business

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

The turning point of 2020 thumbnail

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 […]


Saudi Aramco’s IPO Birthday Party Crashed by the UAE

Business

The word “pandemic” didn’t appear among the risk factors in the prospectus for the world’s biggest IPO, Saudi Aramco’s, which marks its first anniversary this weekend. It turns out that didn’t matter: Despite Covid-19’s savaging of the oil market, shares of Saudi Arabian Oil Co. now trade 12% higher than where they debuted. Others haven’t fared so well. To put that […]


Oil Prices Rise with Weaker Greenback

Oil Prices Rise with Weaker Greenback thumbnail

Oil closed higher as a weaker dollar offset an OPEC+ committee’s decision to hold off on offering a recommendation on whether a planned production hike should move forward. Futures rose 0.2% in rose in New York in an afternoon rally after falling as much as 1.9% earlier in Tuesday’s session. The Bloomberg Dollar Spot Index […]


Aramco Kicks Off Bond Sale

Business

Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year. The state energy firm is raising debt after slumping crude prices caused profit to fall by 45% in the third quarter. That’s left it unable […]


Oil and gas CEOs play down industry fears of Biden; stress ‘collaboration’

Business

Occidental’s Hollub ‘not so worried’ about Democrat’s agenda Total’s Pouyanne sees US investment opportunities Vitol’s Hardy sees ‘European flavor’ entering US market London — Oil and natural gas industry executives have given a cautious welcome to the prospect of a Joe Biden presidency in the US, with Occidental Petroleum CEO Vicki Hollub saying the industry […]


The fall of an empire

The fall of an empire thumbnail

The decline of ExxonMobil has been remarkable in its magnitude and unexpectedness. Why it matters: While all major oil companies are facing troubles, Exxon has fallen the farthest, in large part because it has made the biggest bets on oil and gas — and the smallest bets on renewable energy. While rival BP has recently […]


Daniel Yergin on peak oil, an industry rebound and Houston’s place in the energy future

Daniel Yergin on peak oil, an industry rebound and Houston’s place in the energy future thumbnail

When energy expert Dan Yergin wrote “The Prize,” his Pulitzer Prize-winning 2008 book on the history of the global oil industry, the United States was dependent on foreign oil to power its economy. Since the shale revolution transformed the U.S. into the world’s top oil producer, America has become energy independent and, moreover, a net […]


Big Oil’s Godzillas are keeping the pipe dream alive

Big Oil’s Godzillas are keeping the pipe dream alive thumbnail

As big western oil giants like BP and Shell agonise over how to reinvent themselves in the face of a warming climate, some of the world’s other top producers are taking a very different approach. At BP’s headquarters in London, chief executive Bernard Looney is mapping out plans to cut oil and gas production over […]


What’s Next for Food Supply Chains?

Business

Ecosystems are under tremendous stress to cater to an increasing world population. Urbanization, economic inequality, geopolitical conflicts, and climate change are further disturbing the ecosystem and emerging diseases with long, indefinite durations that are not just a growing risk but perhaps the new normal as pressures from food shortages increase. Billions of people are now […]


Andrew Sheets: The New Definition of “Peak Oil”?

Business

Thoughts on the Market | Publicerades 2020-10-09 Do tech-driven energy efficiencies—coupled with a shift in environmental attitudes—mean oil demand will fail to recover to pre-COVID levels?


Exxon Signals Another Loss

Exxon Signals Another Loss thumbnail

Exxon Mobil Corp. likely made a third consecutive loss in the last quarter, heaping further pressure on the energy giant’s ability to pay its $15 billion-a-year dividend, currently the third-highest in the S&P 500 Index. Exxon suffered further losses in its refining division in the third quarter while higher oil prices were likely not enough […]


What If Preventing Collapse Isn’t Profitable?

What If Preventing Collapse Isn’t Profitable? thumbnail

The real downside of the green-profit narrative has been that it created the assumption in many people’s minds that the solution to climate change and other environmental dilemmas is technical, and that policy makers and industrialists will implement it for us, so that the way we live doesn’t need to change in any fundamental way. […]


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@WesMontage @KennethBarrows3 OPEC bosses are fearful of surrendering market share to revived US drillers. At the same time they are also fearful of oversupply that would cut prices. The big picture: #PeakOil likely occurred in 2018 and the world is looking for crude wherever it might be.

test Twitter Media - @WesMontage @KennethBarrows3 OPEC bosses are fearful of surrendering market share to revived US drillers.

At the same time they are also fearful of oversupply that would cut prices. 

The big picture: #PeakOil likely occurred in 2018 and the world is looking for crude wherever it might be. https://t.co/D2t5tk3kXz

Abolish the USA militaries. #PeakOil and #ClimateChange are here. USA should be divided, it won't be able to adapt otherwise. #FreeCalifornia twitter.com/ejfoundation/s…