A landowner dispute is the latest in a series of hurdles slowing the pipeline’ approval. STEVE AUSTIN | 2014/03/03 A review of news headlines in early 2014 will alert those interested in the US oil industry to a raging controversy and planning row over the construction of the Keystone oil pipeline. This infrastructure project is […]
Putin’s successful expansions arches on the control of energy supplies. STEVE AUSTIN | 2014/04/07 The recent Russian takeover of Crimea has grabbed the world’s attention. The Russian government has long held a secret desire to recover the peripheral territories that were split away from the Soviet Union at the collapse of Communism. After decades of […]
To edge against market volatility large buyers often strike deals with individual oil producing countries, at a price different from the market. STEVE AUSTIN | 2014/05/05 Did you ever wonder what makes the price of oil move and why movements in the price of oil don’t always feed through to the gas station’s prices? Who […]
Train wagons are not a viable oil pipeline on wheels. STEVE AUSTIN | 2014/06/02 The much ballyhooed story of energy independence in the US is almost here, thanks to shale oil production from Texas and North Dakota. Also in the picture, there’s the growing production from Canadian oil sands. From being hugely dependent on overseas […]
First on ISIS agenda is controlling Iraqi crude oil TOBIAS VANDERBRUCK | 2014/06/30 Followers of international politics were mostly taken by surprise early this month, when a hitherto unreported rebellion in Iraq suddenly threatened to shake the world’s oil markets. Throughout the year, the newspapers of the Western world were focused on Syria, then the […]
The US now leads the world in petroleum production STEVE AUSTIN | 2014/08/04 OPEC, the United States of America is here, and how. As the top oil producing nation for 2014, the U.S. has steadily left the world behind. Who said oil in the US was always under sempiternal stormy weather? Play a serenade. According […]
The ban can bend as long as producers and refiners get their cut. STEVE AUSTIN | 2014/09/08 Back in February 2014, oil-price.net posted an astonishing report on the US government’s trade restrictions on its own oil industry. While other governments protect their home industries and give preference to their own national interests, by a convoluted […]
Brent crude dropped 20% for the quarter, the most in 2 years. STEVE AUSTIN | 2014/10/06 In June of 2014 the Brent Crude Oil Price hit $115 per barrel and many oil market insiders were predicting higher prices. Other analyst however, called a peak, and their predictions proved to be correct. By the beginning of […]
High-tech US oil producers need $80 per barrel to be profitable. Saudis need only $50. STEVE AUSTIN | 2014/11/04 A falling oil price is good for the US consumer and good for the US economy. Transport costs feed into the price of every physical product, so if oil gets cheaper, everything gets cheaper. If the […]
New U.S. oil well applications dropped nearly 50% last month as fracking comes to a grinding halt. STEVE AUSTIN | 2014/12/08 Recent falls in oil prices alter the financial dynamics of oil extraction. Certain sources of oil entail lower costs than others. For example, conventional pumped oil extraction in high pressure onshore wells costs relatively […]
