WTI Crude
56.67
Brent Crude
62.03
Natural Gas
3.03

Category: May 2016

It’s time to stop fighting fracking

There’s no better — or bigger — illustration of the reversal of America’s energy fortunes than the Gaslog Salem, the 98,000-ton, 935-foot-long liquefied natural gas tanker that left port in Cameron Parish, La., in late April bound for Portugal. Since February, more than half a dozen tankers loaded with domestic natural gas that’s been frozen to minus 260 degrees Fahrenheit have left U.S. waters headed for ports in India, Brazil and the Middle East. About a decade ago, the idea…

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Concerns for energy espionage climb as oil downturn continues

The FBI is warning U.S. energy companies that the oil industry's downturn is increasing their vulnerability to theft of technological secrets. Companies that long have faced the prospect of economic espionage must now be prepared for the possibility that workers who have been laid off could be targeted by foreign entities and competitors wanting to steal intellectual property. "FBI investigations indicate economic espionage and trade secret theft against U.S. oil and natural gas companies and institutes are on the rise,"…

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What $50 oil means to producers and the Fed

Fifty dollars a barrel isn’t a magic price that will send oil producers scrambling to ramp up output, but a move above that level could offer just the added excuse the U.S. Federal Reserve needs to raise interest rates. Prices for West Texas Intermediate CLN6, +1.11% and Brent LCON6, +0.32% crude both managed to tap highs above the psychologically important $50-a-barrel level on Thursday. Both benchmarks ultimately settled below $50, but it still marked the first time WTI has reached $50…

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Oil at $60 Gains More Backers on Forecast for Higher U.S. Demand

The United Arab Emirates’s economy minister joined forecasters looking for $60 crude this year with demand and production moving more in line. "It’s possible for oil prices to reach $60 or more during this summer" as demand increases in the U.S., U.A.E. Economy Minister Sultan Bin Saeed Al Mansoori said at a conference in Abu Dhabi on Monday. Crude will end the year higher than $60 a barrel, Mario Maratheftis, global chief economist at Standard Chartered Plc, said on Bloomberg…

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This is what makes OPEC even less relevant

A series of unexpected disruptions in the world oil market has driven crude to the $50 per barrel level more swiftly than expected — a factor that makes OPEC and its meeting Thursday less relevant. Both international Brent and West Texas Intermediate crude futures crossed above $50 Thursday, though analysts expect prices to temporarily head lower again in the next couple of months as some supply returns and demand drops off as it does every year after summer driving season…

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Agency: U.S. top oil, gas producer

The United States remained the world's top producer of oil and natural gas hydrocarbons in 2015, according to new estimates from the U.S. Energy Information Administration. U.S. oil and gas production first surpassed Russia in 2012, and the United States has been the world's top producer of natural gas since 2011 and the top producer of oil hydrocarbons since 2013. For the United States and Russia, total oil and gas hydrocarbon production, in energy content terms, is almost evenly split…

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Why $50 Oil Is Here To Stay

Now that oil prices have rebounded to $50 per barrel, will U.S. shale drillers turn the taps back on? That is the million dollar question that the oil markets still do not have a clear answer on. Last year, when oil prices rebounded from $44 per barrel in March to $60 in June, the rig count leveled off. Some drillers even redeployed some rigs, stepping up drilling ahead of what they believed would be a swift rebound in prices. The…

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What’s In Store for Environmental Regulations Under a New President?

The Obama administration has been both cheered and vilified for releasing a lot of new environmental regulations over the last few years. Texas conservative political leaders have become well-known for challenging those rules in court. But now that the clock is running down on President Obama’s second term, what’s in store for those regulations when there’s a new president in office? First of all it may not matter as much as you think whether the next president is a Democrat…

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Trump courts energy industry

Donald Trump is seeking to make inroads with the fossil fuel industry as he moves into the general election. The businessman and presumptive Republican presidential nominee has not made energy a focal point of his campaign, but the sector has historically been a strong GOP ally. Trump is expected to use a Thursday speech before a North Dakota petroleum convention to provide more detail about his platform. So far, Trump has staked out only a handful of energy positions. He’s…

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UK Shale Stocks Soar 25% On Revival Of Fracking

UK shale stocks are up as much as 25 percent on the local government’s approval of the first fracking permit in five years, and analyst predictions that fracking could start before year’s end. IGas Energy Plc —with interests in four shale gas projects in the UK—saw its stock rally 25 percent in Tuesday trading, following the British government’s approval of a fracking permit after a five-year hiatus. Likewise, Egdon Resources also saw its stocks jump, with an over 21-percent increase…

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