Sunday, December 1, 2024

In America’s Shale Country, Nukes and Gas Are Duking It Out

From Bloomberg Subsidizing nuclear power to fight climate change is one thing in liberal states like New York and New Jersey. It’s quite another in the natural gas bastions of Pennsylvania and Ohio. Drillers and gas-fired power plant operators are girding to fight measures to save money-losing reactors in the Keystone and Buckeye states, saying they’ve learned from past defeats and are

Pipeline Delays Stymie New Growth in Canada’s Oil Sands

From Bloomberg Oil sands producers including MEG Energy Corp. and Imperial Oil Ltd. are reconsidering oil sands expansions as new export pipelines are delayed and the provincial government limits production. MEG had planned to ramp up output at an expansion of its Christina Lake oil sands project in the second half of the year. Now, the “probability of that going ahead this year has

Iran

U.S. Says Global Oil Surplus Aiding Its Plan to Cut Iranian Exports

From Reuters A global oil surplus is allowing the United States to accelerate its plan of bringing Iranian crude exports to zero, a U.S. State Department official said on Wednesday. U.S. sanctions on Iran and Venezuela, two of the largest oil producers in the Organization of the Petroleum Exporting Countries (OPEC), and production cuts by OPEC and Russia have boosted

Weekly Oil Storage: Surprise Draw

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 3,862 MBBL last week to 449,072 MBBL from 452,934 MBBL. This is 4% above the 430,928 MBBL that was in storage at this point last year, and is 2% above the five-year