INDUSTRY NEWS
Covid Causing Shift From Public Transport To Cars
Though some people have moved from public transport to clean individual transport such as bicycles, private cars have emerged as the “clear winner” of the shift, according to the report. By July, traffic in Germany had gone back to pre-crisis levels, according to an analysis of mobile network data.Though some people have moved from public transport to clean individual transport such as bicycles, private cars have emerged as the “clear winner” of the shift, according to the report. By July, traffic in Germany had gone back to pre-crisis levels, according to an analysis of mobile network data.
Not The Onion: CA Gov Newsom Believes He Can Legislate Away Gas-Powered Vehicles by 2035
Undeterred by the demonstrable failure of the “reimagining” of California’s power grid he and his predecessor spearheaded and the money pit that is the bullet train, California Gov. Gavin Newsom (D) announced Wednesday that he is signing a new Executive Order that will “eliminate in California the sale of internal combustion engines” by 2035 and “[builds] towards an integrated, statewide rail and transit network.”
Natural Gas Prices Explode On Stronger Demand
Rallying from a seven-week low in the prior session, natural gas futures rose more than 15% on Wednesday afternoon as the demand outlook for natural gas improves.
Oil Prices Get Bump from Equities Rebound
Oil recovered from the steepest one-day loss in almost two weeks as equities advanced, though further gains may be limited by a resurgence in coronavirus cases and new lockdown measures.
Oil Prices Rise As Saudi Arabia Keeps OPEC Members In Check
The positive price movement can be attributed largely to OPEC’s strong chatter after today’s meeting, in which Saudi Arabia chastised noncompliant members for trying to fool the market with overproduction, and gave the laggards until December to make up for any overproduction thus far. Saudi Arabia also warned speculators not to bet against OPEC.
Inside Sen. Ted Cruz’s big play to block Vladimir Putin’s pipeline
The Russian ship Akademik Cherskiy has sat for more than three months in the German port of Mukran, waiting to lay the last segment of the Nord Stream 2 natural gas pipeline running from Russia to Germany under more than 700 miles of the Baltic Sea.
Permian in for Prosperous and Bright Future
According to the Permian Strategic Partnership (PSP), the region contains more than 92.3 billion barrels of oil, which it noted is about 38 times the proven reserves of Alaska, and nearly 300 trillion cubic feet of natural gas, which it said is enough to meet U.S. household demand for 60 years.
Saudi Aramco Is Now Suffering The Consequences Of A Failed Oil Price War/h4>
It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons.
Floating Storage Comeback Would Be Bad News for OPEC+
An oil trade that only works when the market is glutted may be about to make a comeback. That’s bad news for producers withholding near-record amounts of crude in a coordinated bid to help prop up prices.
The World’s Top Oil Importer Is Turning Its Back On Saudi Arabia
In recent months, the world’s biggest oil exporter, Saudi Arabia, has lost market share in China to the United States as the world’s top oil importer has boosted imports from America and reduced purchases from the Kingdom. China has imported record volumes of crude oil in recent months, taking advantage of the lowest crude prices in two decades in April stock up on dirt-cheap oil.
California’s Blackouts Expose Biden-Harris and The Green New Deal
This past week, the nation has watched California experiencing its first intentional rolling blackouts since the state’s 2001 energy crisis. Governor Gavin Newsom, pointing out that solar panels don’t work at night and acknowledging the unusually calm winds which don’t move turbines, called the situation “unacceptable.”
Thanks to Green Energy Mandates, California’s Electric Grid Is Near Collapse
This time, “rolling blackouts” are due to green energy issues, not Enron market manipulation. California has traded energy security to kneel before the false prophet of green energy. Instead of using reliable and affordable nuclear and coal plants, they are using intermittent and unreliable wind and solar power. And the people of California, and perhaps the West in general, may pay the price for that homage if the power grid collapses during the ongoing heat wave.
Billionaire Wildcatter Plans Midland Oil Production Expansion
Texas, Midland-based driller Endeavor Energy Resources has applied for permits for 11 new wells, the Houston Chronicle’s Sergio Chapa reports, adding that the permit applications are for the Spraberry oil field in Midland County.
Most U.S. shale companies to restore production by end of 3rd quarter
Many U.S. oil companies started pausing production in April as the global pandemic decimated demand for gasoline, diesel and jet fuel. In May, at the peak of the production cuts, 25 public oil companies shut in 772,500 barrels of oil per day, according to Rystad, a Norwegian energy research firm.
Texas Hill Country pipeline project moves forward, despite pleas from Willie Nelson and Paul Simon
Houston pipeline operator Kinder Morgan moved forward on a controversial natural gas pipeline through the Texas Hill Country the same day that legendary musicians Willie Nelson and Paul Simon issued a public plea for the company to halt the project.
LNG Train Starts Up on Gulf Coast
With three liquefaction trains, Cameron LNG is expected to export 12 million tonnes per annum (mtpa) of LNG, McDermott noted.
Saudi Arabia Turns Off America’s Oil Taps Again
For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down stockpiles in the world’s most visible oil market and thereby hasten the rebalancing of supply and demand.
Colorado oil company plans Permian Basin push
Colorado oil company QEP Resources is breaking a six-month hiatus as it plans to make a return to the Permian Basin of West Texas.
Microsoft And Halliburton Are Building The Oilfield Of The Future
Technology seems to gravitate to the oilfield. Doing more with less has always been in the background as the industry responded to ever increasing markets with large explosions of capex. Those days are gone as we have noted, and increasingly what would have been big capex solutions are moving to smarter, more flexible components that deliver value while packing in profits to the supplier.
Environmentalism’s Radical Next Generation
This past week, a new group calling itself Beyond Politics (BP) threw buckets of bright-pink paint at the entrances to the London offices of four global NGOs, including Friends of the Earth and Greenpeace.