IEA Sees No Oil Price Rebound For Years
(OilPrice.com) Oil prices are likely to stay below $80 per barrel for another five years, according to a closely watched energy report.
China, Mideast Gas Use to Overtake Europe by 2035, IEA Says
(Bloomberg) China and the Middle East, spurred by lower prices and ample supply, will drive global natural gas demand growth in the next 25 years as consumption in Europe fails to recover to peak levels seen in 2010, according to the International Energy Agency.
Saudi Arabia will not stop pumping to boost oil prices
(CNBC) Saudi Arabia is determined to stick to its policy of pumping enough oil to protect its global market share, despite the financial pain inflicted on the kingdom’s economy.
Officials have told the Financial Times that the world’s largest exporter will produce enough oil to meet customer demand, indicating that the kingdom is in no mood to change tack ahead of the December 4 meeting in Vienna of the producers’ cartel OPEC.
Gulf oil ministers rebuff IMF fears over finances
(CNBC) Oil ministers in Saudi Arabia and the United Arab Emirates (UAE) on Monday rebuffed concerns from the International Monetary Fund that the global slump in oil prices will have a “deteriorating” effect on Middle East countries’ current account balances.
Why the oil sands no longer make economic sense
(Globe and Mail) Lost in the political fallout from President Barack Obama’s decision to once and for all reject Keystone XL is the fact that there is no longer an economic context for the pipeline. For that matter, the same can be said for any of the other proposed pipelines that would service the planned massive expansion of production from Alberta’s oil sands.
Text of Speech by Saudi Arabia’s vice oil minister at Asian energy conference
(Reuters) Following is the full text of a speech by Prince Abdulaziz bin Salman Al Saud, Saudi Arabia’s vice minister of Petroleum and Mineral Resources at an Asian ministerial energy roundtable in the Qatari capital Doha.
Oil Supply Picture Has Changed Since Keystone Was Proposed
(NY Times) When the Obama administration began considering the Keystone XL pipeline seven years ago, oil production in the United States was falling and most analysts thought it would never recover. At the same time, Mexican oil production was also in decline, meaning that domestic refineries would soon need another source of crude.
Will Obama’s ‘No’ on Keystone Curtail Canada’s Oil Boom?
(National Geographic) President Barack Obama’s rejection of a controversial U.S.-Canadian oil pipeline signals U.S. leadership on climate change, but it’s not expected to stop the growth in Canada’s oil production —at least not anytime soon.
Can Oil Remain Above a $40 a Barrel Floor?
(Barrons) A Lombard Street economist writes that a decline below this level is more likely than a sustained rally.
Peak Oil: Apocalyptic Environmentalism and Libertarian Political Culture
(Inside Higher Ed) The impending collapse of civilization should, as Samuel Johnson said about being hanged in a fortnight, wonderfully concentrate the mind. For most of the interview subjects whose responses Matthew Schneider-Mayerson analyzes in a recent book, that collapse is inevitable, if not already underway.