Why America’s Oil Output Refuses to Collapse
(Bloomberg) Somewhere amid the maze of wells that Murphy Oil Corp. has scattered across Texas’s sprawling Eagle Ford shale formation, Brett Pennington is carrying out a little experiment.
Low oil prices put $1.5 trillion worth of projects at risk
(CNN) New oil and gas production projects worth $1.5 trillion are at risk because of plunging prices. Research firm Wood Mackenzie said the planned projects are unlikely to go ahead because they’re uneconomic at current prices of less than $50 a barrel.
View full article here: money.cnn.com
Quote – 15 Jun 2015
“We were on stage in a panel at an Oslo energy forum and we were pressed by people in the panel to talk about our views on climate and what our positions were…On stage, Ben [van Beurden, Shell CEO], Patrick [Pouyanne, Total CEO], Eldar [Saetre, Statoil CEO] and I said we should speak with a common voice – why don’t we do that? It came about as simple as that.”
–BP CEO Bob Dudley (Reuters, June 13)
CEOs of Eni and BG joined the initiative in the weeks that followed. The bosses of ExxonMobil and Chevron opted not to join the initiative, much to the ire of their European counterparts
New Balance of Power
(NY Times) HOUSTON — For the better part of the last century, crude oil prices have swung like a pendulum, pushing and pulling the fortunes of nations. More often than not, global supplies of the volatile commodity were controlled by the rulers of desert domains who would otherwise have been powerless had it not been for the oil that bubbled beneath their thrones.
World Oil Demand Surges: A Data Point For Price Recovery
By Art Berman. Reprinted from ArtBerman.com World oil demand increased by 1.1 million barrels per Continue Reading
Déjà Vu With a Twist?
By Robert L. Hirsch. The recent world oil supply/price decline situation looks very much like Continue Reading
An Apollo Program for Energy
A National Energy Program – A White Paper on Achieving Energy Independence and National Transformation. Continue Reading
Top 10 News Stories of 2014
By Steve Andrews and Tom Whipple – Editors, Peak Oil Review 1. Oil Price Crash Continue Reading
Quote of the Week – 29 Dec 2014
“Taking into account the future decline of shale production in the U.S. and Canada, it is Venezuelan oil that can become the substitutional element for the receding volumes of those markets.
–Igor Sechin, CEO of Russia’s Rosneft
Quote of the Week_22 Dec 2014
“[Drilling] Costs are falling nearly as fast as the price, which means oil producers can spend less to get the same or potentially even more in terms of production. While reductions in capex are coming faster than expected, it is unlikely to translate into less supply.“
— Goldman Sachs report [dartboard alert]