(World Oil) – (Bloomberg) – Occidental Petroleum Corp. warned that U.S. energy independence is at risk of slipping away if shale output plateaus and begins to decline. “It’s going to start to roll over, and when that happens, that’s when the U.S. is at risk for losing our energy independence,” said Chief Executive Officer Vicki Hollub said in a presentation
Oil Price The Biden Administration is finalizing the next five-year offshore leasing program, which has been delayed by several months already, creating yet another uncertainty for the U.S. oil industry which has had to grapple with numerous mixed messages from Washington since President Biden took office. The previous five-year program expired in June 2022. The Biden Administration hasn’t yet published
World Oil Leslie Beyer, CEO of the Energy Workforce & Technology Council, said following the State of the Union Address, she agrees with President Biden and our need to optimize reliance on domestic resources, but that must also include energy resources. “If we provide a fair playing field for our energy sector and encourage more investment in U.S. energy infrastructure,
From The Houston Chronicle The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring. U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in 2018, setting new production records, according to a new report from the U.S. Energy Department. The U.S. surpassed Saudi Arabia
Natural gas will overtake oil as the leading fuel around 2023 Asia demand growth makes it the biggest energy importer North American energy production expected to grow 1.2% per annum through 2035 North American LNG exports grow to~25% of global trade by 2035 Increasing production of oil and natural gas, along with lower levels of consumption, will allow North America
An end of the year reflection on oil prices, global demand and OPEC by Greg Barnett It’s Thursday morning, December 31, 2015. I’m not going to sugar coat it – it’s been a tough year. There have been family deaths, cancer scares, a heart attack, a huge Category 4 tornado that was too close for comfort, and a new granddaughter,
“The journey from the minor leagues to the World Series parallels the struggle to climb the ladder of American business. Many try, but only a few succeed.” – Roger Kahn, The Boys of Summer Call it a throwback to the 1980’s, if you will. Regardless of the outcome, the 2015 World Series will end a championship drought that has spanned
Gives thumbs up to Keystone and crude oil exports Former Hewlett Packard CEO Carly Fiorina is running for the 2016 Republican nomination. Fiorina talked about energy in an interview with The Fuse in June. Here is a summary of her energy policy thoughts: Crude oil export ban: I would lift the restriction on exporting oil. Keystone XL pipeline: I support the Keystone
The Permian ranks among the top-20 oil producing countries on a stand-alone basis The Permian Basin continues to deliver amid declining activity, with production levels expected to rise past 2,000 MBOPD in the Energy Information Administration’s (EIA) September issue of the Drilling Productivity Report. The Permian has, for the most part, been the only major oil and gas play to
In this final installment, former Shell Oil Company President John Hofmeister talks about the false notion of energy independence, the need for two-way oil and gas trading, the Jones Act, removing barriers to the movement of energy, and the Keystone XL pipeline View PDF of Slides – Download Video File John D. Hofmeister is a seasoned business leader with strong views about U.S.
BP Energy (ticker: BP) released its latest edition of the 2035 Energy Outlook on February 17, 2015, complete with supporting materials, a press release and a webcast. The landing page of the report can be accessed by clicking here. BP stopped short of calling its projections a “crystal ball,” but says we can expect the following events to occur by
The United States Department of Commerce said it has begun approving requests to sell light processed oil on the international market. The transactions, which now can be conducted by companies without government approval, pertain only to selling crude that has either been processed or refined. The export of raw crude is still outlawed. The announcement, which Reuters describes as “wrapped in
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