Oil prices keep falling — this is why
(Washington Post) There is no reprieve, of late, for the oil market. And U.S. consumers have been reaping the benefits.
We are at Peak Oil now; we need very low-cost energy to fix it
(OurFiniteWorld.com) This past week, I gave a presentation to a group interested in a particular type of renewable energy–solar energy that is deployed in space, so it would provide electricity 24 hours per day. Their question was: how low does the production cost of electricity really need to be?
What Happened to Oil Prices in 2015?
(Motley Fool) The U.S. Energy Information Administration routinely puts out a Short-Term Energy Outlook, and one component of that outlook is an oil price forecast. Last year at about this time, its STEO forecast that crude would average around $77.75 per barrel in 2015.
What Past Oil Crashes Say About Today’s Slump
(Fortune) The oil industry is going through its third crash in prices since the formation of the OPEC cartel. Many are wondering when the market will recover and what oil prices will be when it finally does.
The Fed’s latest victim: energy
(CNBC) Energy stocks have been summarily punished over the past year and a half. And it hasn’t been a minor selloff. Now that the Federal Reserve has begun the tightening process, it will likely further cloud the outlook for the sector.
Oil crashes to $30 a barrel
(CNN) Oil plummeted below $30 a barrel on Tuesday for the first time since December 2003. The latest wave of selling leaves crude oil down 19% this year alone. It represents an incredible 72% plunge from crude oil’s June 2014 peak of almost $108.
“The fundamental situation for oil markets is much worse than previously thought,” Barclays commodities analysts wrote in a client note.
America lifts its ban on oil exports
(The Economist) For decades, the word “market” has been a misnomer for global trade in oil. Not only has the business been manipulated by an international cartel, OPEC, with varying degrees of success. Since 1975 America has also distorted it by banning the export of almost all crude oil.
U.S. Congress kills U.S. oil export ban, boosts solar, wind power
(The Globe and Mail) The U.S. Congress voted on Friday to repeal the 40-year-old ban on exporting U.S. crude oil in an energy policy shift sought by Republicans as part of a bipartisan deal that also provided unprecedented tax incentives for wind and solar power.
Oil Prices Aren’t Encouraging U.S. Crude Exports
(Wall Street Journal) For struggling U.S. oil producers, Congress’ plan to lift the ban on most crude-oil exports is too little, too late.
EIA: Exports depend on domestic production level
(FuelFix.com) Houston — Since Congress and the President agreed last week to lift the ban on oil exports the government’s energy forecasting arm decided on Monday to highlight a recent analysis it did on the topic.