Washington is tangled up in spirited bouts of mudwrestling over exporting US crude oil, prohibited since the Arab oil embargo. Big Oil, environmentalists, consumer groups, lobbyists, lawmakers – they’re all at it. Yet, exports of "petroleum products" are soaring.
Entries in Energy (158)
By James Stafford, Oilprice.com, and energy expert Arthur Berman: This winter, things have begun to unravel. Natural gas inventories are near their 2003 low. Sure, weather is the main factor, but that's always the case. The truth is that supply has not been able to meet winter demand, period. It's a fact that is inconsistent with the fairy tales we continue to hear about cheap, abundant gas forever.
Regarding Russia’s Ukrainian campaign, Speaker of the House Boehner did what President Obama had done: posturing. “It’s time to stand up to Putin,” he said. NATO met. The UN Security Council met. EU Foreign Ministers met. Sanctions, that’s the common denominator.
By Nick Cunningham, Oilprice.com: Why are most of the damages of an oil spill, such as the BP Deepwater Horizon, picked up by taxpayers? A federal liability cap of a ludicrous $75 million, that’s why. Big oil loves that subsidy and thwarts efforts to raise it to realistic levels.
By Nick Cunningham, Oilprice.com: Natural gas prices in the US hovered between $2 and $4 per million btu for years, while reaching $19 in Japan. The industry is pushing for permits to export LNG, hoping for an easy arbitrage opportunity. But the markets may bite back.
By Marin Katusa, Chief Energy Investment Strategist: America has some serious problems: education, health care, the power of lobbyists, government spying on Americans, poverty.... But there is one problem America doesn't have – getting oil out of the ground.
By Porter Stansberry, DailyWealth: It was the biggest mistake of Warren Buffett's career: a large investment in ConocoPhillips. Yesterday we told you why this was such poor timing and how it defied his own investment principles. But WHY did Buffett ignore the commodity price cycle and continue to buy an oil company even as petroleum prices soared?
By Porter Stansberry, DailyWealth: I'd like to share with you part of a larger research project I've been working on for the last six months. It involves an unusual investment lesson from the greatest investor of our time, Warren Buffett.
By Nick Cunningham, OilPrice.com: Exelon might retire some of its nuclear power plants because they're unprofitable. It blames low electricity prices and “bad energy policy,” by which it means subsidies for renewables, though nuclear has benefited from subsidies for decades.
Executive Report with Southern Pulse: Despite the continued influx of investment in Iraq, the situation is untenable and each month moves closer to an all-out civil war. First, we’ll give you the security run-down, then we’ll get into the oil.
By Nick Cunningham, OilPrice.com: Fracking poses a growing risk to water supplies. Groundwater contamination has been making headlines, but in parched states like Texas and California, fracking’s massive consumption of water threatens fracking itself.
“Volatile,” a word that is often used to describe the price of natural gas with its random-appearing jumps and plunges, head fakes, and whiplash-inducing turnarounds, no longer describes the price of natural gas. “Chaotic” would be a better term.
On Friday, when stocks were plunging, natural gas soared nearly 10%. The highest close since June 2010. Up 20% for the week. Up 170% from April 2012. And it’s just the beginning. Because after the glut comes the panic.
By Executive Report with Southern Pulse: The US and EU approved the easing of some sanctions against Iran. And now a worldwide mad scramble to do business has started.
By Nick Cunningham, Oil Price.com: Shell’s earnings plunged, eaten up by huge costs, delays, and lower production. Chevron’s Gorgon LNG project is $20 billion over budget. Italy’s ENI blows $50 billion on the Kashagan oil field, five times what it expected. Now oil companies are cutting back, with consequences.
By James Burgess, Oilprice.com: A new analysis of data from the Pipeline and Hazardous Materials Safety Administration sums up the costs of of servicing the US oil boom by rail.
By Marin Katusa, Chief Energy Investment Strategist: Investors who want to know how the energy sector will be doing this year are, in my opinion, asking the wrong question. There really is no such thing as "the energy sector."
Executive Report with Southern Pulse: A pipeline explosion in Tezoyuca, Mexico, injured seven and forced the evacuation of 800 families. It was caused by a tap to steal liquefied petroleum gas. Mayor Arturo Ahumada Cruz affirmed that the pipeline is perpetually tapped.
By Nick Cunningham, OilPrice.com: California is sitting on the largest tight oil formation in the US, the Monterey Shale. Interest is heating up. The legislature passed a controversial law to regulate fracking and allow the industry to drill. But fracking requires lots of water.