Keyword: methane

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  • Gov. Chris Christie is touting Grover Norquist's support of 23-cent-per-gallon gas tax hike

    06/29/2016 8:55:02 PM PDT · by panhandle67 · 32 replies
    Associated Press ^ | 6/29/16 | BRUCE SHIPKOWSKI
    TRENTON, New Jersey — Republican Gov. Chris Christie on Wednesday touted an anti-tax crusader's endorsement of a proposed 23-cent- per-gallon gasoline tax hike along with a sales tax cut, sweeping aside objections raised by Democratic leaders in the state Senate and voicing confidence that the measure would be passed in that chamber. Christie all but dared lawmakers not to act on his plan during a statehouse news conference, a day after the Assembly passed the plan to pay for a $2 billion a year transportation trust fund for eight years. The fund runs out of borrowing authority Friday, and Christie's...
  • Texas drillers may start hiring soon, as long as prices hold up

    06/28/2016 2:26:01 PM PDT · by 2ndDivisionVet · 4 replies
    Fuel Fix ^ | June 28, 2016 | Collin Eaton
    HOUSTON – Rising crude prices could spur hiring across the Texas oil patch by August, a regional economist says, beginning a slow but steady reversal in the state’s energy employment after struggling drillers shed 1 in 3 jobs. Over the past two months, a dozen U.S. oil companies — including Devon Energy and Pioneer Natural Resources — have announced plans to plow an extra $600 million into their shale fields in Texas and elsewhere as crude prices hover near $50 a barrel. Several have dispatched new rigs and received drilling permits. Next, they’ll start hiring new people – unless, of...
  • The PBOC just fixed the yuan at its weakest level since December 2010

    06/26/2016 6:28:37 PM PDT · by ameribbean expat · 9 replies
    The People’s Bank of China have set the USD/CNY fixing for Monday at 6.6375, some 0.9% weaker than Friday’s fixing level of 6.5776. The figure, well above Friday’s close of 6.6150, was the weakest fixing level seen since December 2010.
  • Ankara's "Economic Miracle" Collapses Changes in Turkey

    12/22/2011 9:50:34 AM PST · by bayouranger · 10 replies
    meforum.org ^ | 12-21-11 | David P. Goldman
    Turkey's high-flying economy, which expanded at a 10 percent annual rate of gross domestic product growth during the first half of 2011,[1] will crash-land in 2012. Prime Minister Recep Tayyip ErdoÄŸan's "economic miracle," to use the Daily Telegraph's admiring words,[2] depended on a 40 percent annual rate of bank credit expansion, which in turn produced a balance of payments deficit as wide as that of southern Europe's crisis countries. Markets have already anticipated a sudden turnaround in the Turkish economy. The Turkish lira (TRY) fell by a quarter between November 2010 and September 2011, making it the world's worst performing...
  • Russia Sends Nuclear Submarines To Patrol Cyprus (Turkey) Waters - Report

    09/18/2011 8:35:13 AM PDT · by Fennie · 14 replies
    Cyprus News Report ^ | August 25, 2011 | Sarah Fenwick
    Russia has sent two nuclear-powered submarines to patrol Eastern Mediterranean waters around Cyprus and enforce the island's right to explore for undersea oil and gas in its territorial seas, according to information from Defencenet.gr, citing a Russian FM spokesman.
  • The Eastern Mediterranean Sea is Starting to Get Crowded

    09/15/2011 10:47:51 AM PDT · by jhpigott · 12 replies
    As regional powers attempt to rise, other regional powers will react. This is particularly true in this era of globalization. Turkey is now riding a learning curve. Here is how the latest is unfolding. Turkey warned Thursday it will declare a border on the continental shelf if the island of Cyprus proceeds with offshore oil and gas drilling activities. The Foreign Ministry's announcement came a day after Cyprus President Dimitris Christofias announced that U.S. firm Noble Energy will soon begin exploratory drilling to confirm deposits beneath the sea bed off Cyprus' southern coast despite Turkey's attempts to prevent such a...
  • Turkish PM says Syrian leader overshadowed his legitimacy

    09/12/2011 5:30:18 PM PDT · by SunkenCiv · 7 replies
    World Bulletin Net ^ | Monday, September 12, 2011 | unattributed
    Turkish Prime Minister Recep Tayyip Erdogan has said that Syrian President Bashar al-Assad overshadowed his legitimacy. In a televised interview with the Al-Jazeera, Prime Minister Erdogan said, "when we came to the political power nine years ago, there was a 30-year resentment between Turkey and Syria. We made great efforts to improve relations with Syria with which we share 910 kilometres of border. We always proposed al-Assad to release political prisoners, make constitutional amendments and start multiparty system. Unfortunately, none of these reforms were made. I paid a visit to Aleppo earlier this year. I told al-Assad that we were...
  • Putin Has Imperial (Not Soviet) Aspirations

    06/13/2016 8:14:47 AM PDT · by milton23 · 44 replies
    The Daily Signal ^ | 6/13/2016 | Luke Coffey
    Whoever wins the race to the White House is going to have to deal with Russian President Vladimir Putin from day one. Hopefully, the next U.S. president will learn from the mistakes of the past. One of the biggest foreign policy follies of the Obama administration was the so-called Russian “reset”. In March 2009 Hillary Clinton and her Russian counterpart Sergey Lavrov symbolically, if not awkwardly, pressed a “reset” button—to demonstrate a fresh start to U.S.-Russian relations.
  • 'Leave' Takes Shocking 19-Point Lead In Brexit Poll

    06/12/2016 10:33:16 AM PDT · by lafroste · 41 replies
    Zero Hedge ^ | 6/12/16 | Tyler Durden
    The headlines go from bad to worse for the UK and EU establishment as yet another new poll this weekend, by Opinium, shows "Brexit" leading by a remarkable 19 points (52% chose to leave the EU against 33% choosing to keep the status quo). This result comes after 2 polls Friday night showing a 10-point lead for "leave" which sparked anxiety across markets. This surge in "leave" probability comes despite an additional 1.5 million voters having registered this week (which many expected to increase "remain" support). Further anger towards EU was exposed when former cabinet minister Iain Duncan Smith warned...
  • Panama Canal is a big deal again. (Carter gave it away in 1977)

    06/09/2016 1:37:41 PM PDT · by Memphis Moe · 47 replies
    CNBC | 5/9/2016 | Memphis Moe
    "A century after transforming global trade and markets, the Panama Canal is about to revamp world trade once again. On June 26 the canal is scheduled to reopen after a massive project costing more than $5 billion that will allow bigger ships to pass through the 102-year-old waterway, doubling cargo capacity. U.S.-based businesses are recognizing the new growth opportunities. Many logistics experts predict the expansion of the so-called Panamex may shift international trade routes, allowing ships to reach Asia from the U.S. Gulf Coast more than two weeks faster than going east through the Suez Canal." Excerpt; full story at...
  • Colorado Has 40 Times More Natural Gas Than Once Believed

    06/09/2016 1:16:16 PM PDT · by smokingfrog · 35 replies
    Daily Caller ^ | 6-9-16 | Chris White
    U.S. Geological Survey (USGS) officials said Wednesday that western Colorado has upwards of 40 times more natural gas than previously believed, making it the second largest natural gas producing formation in the U.S. The Mancos Shale formation in Colorado’s Piceance Basin, located in the western section of Colorado, nestles nearly 70 trillion (66.3 trillion) cubic feet of gas. This marks a massive uptick from the 1.6 trillion cubic feet estimated in 2003, research shows. A trillion cubic feet of natural gas, according to the U.S. Energy Department, is enough to heat 15 million homes for a year — 66. 3...
  • 'There is no money left, bye!': Russian PM causes social media storm

    06/09/2016 12:16:09 PM PDT · by SaveFerris · 15 replies
    Yahooooo ^ | June 9, 2016 | CNBC
    Russian Prime Minister Dmitriy Medvedev has whipped up a storm on Russian social media for an off-the-cuff comment he made to a Russian pensioner last month. Medvedev was caught on camera telling an elderly woman in Crimea, a region annexed by Russia from Ukraine in spring 2014, that there was "no money left" in Russia's budget when he was asked why the state pension of 8,000 Russian rubles a month (around $125 a month) was not higher given the rising cost of living. "There just isn't any money now. When we find money, we'll make the adjustment," Medvedev replied to...
  • Aubrey McClendon: No Evidence of Suicide in Death of Indicted Oil Man

    06/09/2016 4:29:04 AM PDT · by Fhios · 8 replies
    NBC ^ | 6/8/2016 | CORKY SIEMASZKO
    The timing of Oklahoma oil man Aubrey McClendon's death by car crash was suspicious, but it doesn't appear to be suicide. Oklahoma City police had been investigating the deadly March 2 wreck that killed McClendon just a day after he was indicted by a federal grand jury for allegedly trying to rig oil prices.
  • Saudi Authorities Panic As Speculators Drive Currency Down

    06/06/2016 1:26:43 PM PDT · by bananaman22 · 19 replies
    Oilprice.com ^ | 06-06-2016 | ZH
    With Saudi Riyal forwards plunging back below 3.81, dramatically weaker than the current peg, Bloomberg reports that Saudi authorities are cracking down on currency traders as speculation mounts that the world’s biggest oil exporter won’t be able to maintain the riyal’s peg to the dollar as revenue plunges. Saudi Arabia ordered banks in the kingdom to stop selling some products that allow speculators to bet against its currency peg just days after demanding information from lenders on the offerings, according to people with knowledge of the matter. The Saudi Arabia Monetary Agency sent a circular to banks this week saying...
  • Saudi central bank bans use of options against riyal: executive

    06/06/2016 1:22:30 PM PDT · by Lorianne · 3 replies
    Reuters ^ | 05 June 2016 | Faisal Al Nasser
    Saudi Arabia's central bank has told banks it is banning the use of options and other derivatives to speculate against the riyal, in a new effort to reduce pressure on its currency peg, a senior executive at a Saudi bank told Reuters on Sunday. The Saudi Arabian Monetary Agency "wants to make sure that there is no snowball effect against the riyal in the forwards markets", the executive said, declining to be named because of commercial sensitivities. "So now banks in the country are banned from accepting any options against the riyal." Non-speculative trade in the riyal forwards market is...
  • U.S. Crude Exports Hit 96 Year High

    06/06/2016 9:42:03 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 06-06-2016 | Zain
    U.S. crude oil exports rose to 591,000 barrels per day in April, up 83,000 barrels from March, according to new data from the U.S. Census Bureau on Friday. The total figures are the highest since at least 1920, Rigzone reports. A majority of the crude - 324,000 bpd of it - went to Canada, 90,000 more went to Curacao and 36,000 others went to the Bahamas. The figures come almost six months after the U.S. government lifted restrictions on crude exports.
  • Oil Prices Down As OPEC Fails To Agree Output Ceiling

    06/02/2016 8:35:11 AM PDT · by bananaman22 · 10 replies
    Oilprice.com ^ | 02-06-2016 | Nick
    The much anticipated OPEC meeting in Vienna on June 2 ended pretty much as expected: the group once again failed to put any production targets in place. Without a ceiling on output, all OPEC members will continue to produce as they see fit, leaving the oil market to sort itself out. The result was largely anticipated, given the lack of agreement at several prior meetings. However, the meeting in Vienna was not without some news. OPEC members managed to agree on several small bore issues, which could be viewed as a modest success, especially after the apparent hostility on display...
  • TransCanada Responds to Trump's Vow to Take a Cut of Keystone Profits

    06/02/2016 10:35:34 AM PDT · by Rio · 33 replies
    ChemInfo ^ | June 3, 2016 | Andy Szal
    Officials from TransCanada last week echoed Donald Trump's support for the Keystone XL pipeline, but the company was far less enthused about his vow to take "a piece of the profits." The Canadian energy giant sought federal approval for the pipeline, which would connect a network running between Canadian oil sands and Gulf Coast refineries, for nearly nine years before President Obama rejected its application late last year. The project came to symbolize the partisan battle over environmental issues in Washington, and Trump referenced the pipeline among a slew of proclamations in a speech to North Dakota petroleum executives last...
  • Gas Prices To Remain Low This Summer

    05/31/2016 3:47:11 PM PDT · by bananaman22 · 18 replies
    Oilprice.com ^ | 31-05-2016 | Geiger
    It’s easy for U.S. drivers to forget the high gas prices in recent years after the ultra-lows seen only months ago, but prices going into the summer months of 2016 are still well below what they were this time last year, and the lowest price heading into the summer months since 2009. Despite a recent uptick in the price per barrel of oil—up $20 since the last week of January 2016—U.S. drivers will still enjoy the low gas prices this summer. The spot price for WTI crude oil is still significantly lower than this time last year, trading today at...
  • 3,000 French Gas Stations Out of Fuel

    05/27/2016 8:44:54 AM PDT · by Lorianne · 25 replies
    NACS ^ | 26 May 2016
    An oil strike has forced around a fourth of the country’s stations to close because of lack of gasoline. ___ Some 3,000 gasoline stations in France—around a fourth of the country’s stations—have had to close because an oil strike has shut off their fuel supply, Telesur reports. For the first time in more than five years, France is dipping into its strategic oil reserves, while unions block refineries. Those stations lucky enough to have fuel are under government orders to restrict the sale of diesel or gasoline to around $30 per customer. Unions are picketing French refineries in protest against...
  • Nigeria: An OPEC Country On The Brink Of Collapse

    05/23/2016 4:41:03 PM PDT · by 2ndDivisionVet · 8 replies
    Seeking Alpha ^ | May 22, 2016
    Situation in Nigeria For a country that produced nearly 2.4 million barrels of oil (NYSEARCA:USO) per day just a few months ago, Nigeria is facing some really serious issues. A militant group called the Niger Delta has disrupted the country's 2.4 million b/d of production by blowing up pipelines, hassling producers, and threatening to destroy additional oil producing facilities. As a result, Nigeria's oil production has fallen from 2.4 million b/d to 1.4 million b/d and further pressuring a growing nation more and more reliant on its oil as revenue. Nigeria is a fast growing country. Its economy is the...
  • Anchor: Clinton Presidency ‘Should Freak People Out,’ Will Hurt N Dakota By Targeting Fracking

    05/21/2016 3:24:42 PM PDT · by 2ndDivisionVet · 13 replies
    The Washington Free Beacon ^ | May 20, 2016 | Aaron Kliegman
    The host of a local North Dakota news show told viewers Friday that the prospect of a Hillary Clinton presidency “should freak people out” because she will badly damage the state’s economy by going after fracking, which will hurt the oil and gas industry and cost jobs. Chris Berg, the anchor of 6:30 Point of View, a show on CBS affiliate KXJB Valley News Live, discussed North Dakota’s economic struggles as Clinton’s husband, Bill, was in Fargo, North Dakota for a campaign rally. Berg explained that the North Dakota Office of Management and Budget released a revenue report on Friday...
  • Plan Calls To Limit Oil Imports (RADIO INTERVIEW)

    05/18/2016 6:05:22 PM PDT · by panhandle67 · 45 replies
    High Plains Observor Perryton ^ | 5/18/16 | Chris Samples
    Some Panhandle producers are announcing a proposal to try to limit oil imports to attempt to boost the American oil industry. So, how much are we importing now and why, if we can produce all we need domestically? Dr. Daniel Fine, associate director for New Mexico Energy Policy, is helping lead the effort and recently spoke with KXDJ’s Chris Samples. “How much? It is increasing,” said Dr. Fine.
  • EPA seeks to boost ethanol in fuel supply

    05/18/2016 2:26:28 PM PDT · by jazusamo · 43 replies
    The Hill ^ | May 18, 2018 | Timothy Cama
    The Environmental Protection Agency (EPA) wants to increase the amount of ethanol and other biofuels in the nation’s fuel supply. But the volumes proposed Wednesday under the renewable fuel standard (RFS) still fall under targets written into the 2007 law that created the program. That ended up angering both the ethanol industry, which wants more of its product to be mandated, and the oil industry, which wants the program rolled back. The agency plans to mandate that 18.8 billion gallons of biofuels be blended into the country’s gasoline and diesel supply next year. Of that amount, 14.8 billion gallons can...
  • Building trade unions denounce labor partnership with billionaire environmentalist Tom Steyer

    05/16/2016 1:05:22 PM PDT · by OddLane · 6 replies
    Washington Post ^ | May 16, 2016 | Matea Gold
    A new super PAC partnership between billionaire environmentalist Tom Steyer, the AFL-CIO and major public sector employee unions has triggered an angry backlash among the building trade unions -- dividing organized labor just as it ramps up its 2016 political programs. In letters delivered Monday to AFL-CIO President Richard Trumka, the presidents of eight building trade organizations called on the AFL-CIO to cut ties with Steyer, whose opposition to an extension of the Keystone XL Pipeline infuriated unions that had championed the jobs that the oil pipeline would have created.
  • Moody's Downgrades Saudi Arabia on Lower Oil Prices

    05/15/2016 12:33:12 AM PDT · by nickcarraway · 8 replies
    Jakarta Post ^ | Sun, May 15 2016
    Saudi Arabia's credit rating has been downgraded by Moody's because of the long and deep slump in oil prices. Moody's Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar. Saudi Arabia is the world's largest oil exporter. Moody's cut the country's long-term issuer rating one notch to A1 from Aa3 after a review that began in March.
  • Oil prices in light of oil sands shutdown, oil strike in Israel

    05/14/2016 10:16:24 AM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 05/14/16 | A. Dru Kristenev
    Fire feeds on oil: In the world of eco-terrorism, Islamic terrorism, it doesn't make much difference: Pitch western civilization backward a thousand years into another dark age A number of seemingly disparate variables are influencing the world’s volatile equation of oil and fire, needing just a spark to ignite a conflagration. And one of huge proportions has been blazing well to the north of us in Alberta, consuming the tinder dry landscape surrounding Ft. McMurray, the hub of Canada’s oil sands development. Initial cause of the fire is yet undetermined, investigators employing drones to examine the hundreds of square miles...
  • Trump taps climate change skeptic, fracking advocate as key energy advisor

    05/13/2016 10:51:57 AM PDT · by maggief · 94 replies
    Reuters ^ | May 13, 2016 | VALERIE VOLCOVICI
    Republican presidential contender Donald Trump has asked one of America's most ardent drilling advocates and climate change skeptics to help him draft his energy policy. U.S. Republican Congressman Kevin Cramer of North Dakota - a major oil drilling state - is writing a white paper on energy policy for the New York billionaire, Cramer and sources familiar with the matter told Reuters. Cramer was also among a group of Trump advisers who recently met with lawmakers from western energy states, who hope Trump will open more federal land for drilling, a lawmaker who took part in the meeting said. Cramer...
  • Oil Hits 6-Month High on Crude Inventory Draw

    05/11/2016 3:27:10 PM PDT · by bananaman22 · 9 replies
    Oilprice.com ^ | 11-05-2016 | Charles
    Crude oil futures rose 3.5 percent in mid-afternoon trading on Wednesday, following official data earlier in the day showing a 3.4-million drop in crude inventories and a fall in crude output to 8.8 million barrels per day, the lowest since the fourth quarter of 2014. June deliveries of West Texas Intermediate (WTI) were up US$1.57, or 3.5 percent, settling at US$46.23 per barrel on the New York exchange. This jump is higher than any closing price the commodity has seen since November of last year.
  • 90% Off Sale On Offshore Drilling Rigs?

    05/11/2016 2:56:12 PM PDT · by bananaman22 · 6 replies
    Oilprice.com ^ | 11-05-2016 | offshore
    It might not be a great time to start offshore drilling, with oil prices as depressed as they are, but it might just be a great time to buy an offshore drilling rig for a cut-rate price—in fact, you might be able to get one for only one tenth of what they cost in 2011. This is the cost coup recently pulled off by Ocean Rig, a company controlled by shipping billionaire George Economou, who has landed a drillship—the Cerrado—for only US$65 million at auction, which represents less than 10 percent of the estimated price when it was built over...
  • Shell Evacuates Oil Personnel After Chevron Platform Bombing

    05/11/2016 1:39:36 PM PDT · by Lorianne · 15 replies
    Oil Price ^ | 09 May 2016
    Shell has evacuated nearly 100 essential oil personnel from a major production facility in the Niger Delta, following a series of attacks from a newly formed militant group that has vowed to renew the fight abandoned after a 2009 amnesty deal. Some 98 Shell personnel were airlifted from the Shell-operated Eja Oml 79 oil production facility in the Niger Delta over the weekend, bringing into question the facility’s 90,000 barrel-per-day production capacity. The facility is run by Shell’s Nigerian subsidiary, SPDC (Shell Petroleum Development Corporation). The evacuations come after militants of the Niger Delta Avengers attacked an offline oil platform...
  • Big Oil Abandons $2.5 Billion in U.S. Arctic Drilling Rights

    05/11/2016 6:29:09 AM PDT · by Lorianne · 12 replies
    Source material cannot be posted to FR | 10 May 2016
    see link below
  • What OPEC Has To Fear From The New Saudi Oil Minister

    05/10/2016 3:45:13 PM PDT · by bananaman22 · 2 replies
    Oilprice.com ^ | 10-05-2016 | Ali
    In a surprise move, Saudi Arabia sacked its long-time oil minister over the weekend, an event that illustrates the near-total control that the new young Saudi prince has obtained over the country’s energy industry. For many years, Ali al-Naimi, the outgoing Saudi oil minister, was the voice of Saudi Arabia’s oil industry and policy. Even seemingly insignificant remarks from al-Naimi could move oil prices up or down. But the 80-year old oil minister has seen his power eclipsed by the 30-year old Deputy Crown Prince Mohammed bin Salman. In April, when al-Naimi was forced to backtrack on the Doha oil...
  • Texas, New Mexico oil producers push for import limits

    05/08/2016 10:03:41 PM PDT · by panhandle67 · 34 replies
    AP BIG STORY ^ | Apr. 19, 2016 | SUSAN MONTOYA BRYAN
    ALBUQUERQUE, N.M. (AP) — Oil drilling companies and royalty owners from the Texas Panhandle to New Mexico's stretch of the Permian Basin are embarking on a grass-roots campaign to limit foreign oil imports, salvaging what they say is a major sector of the U.S. economy. "American oil is competing against a cartel of government operators which has a stated initiative of driving an American industry out of business," said Tom Cambridge, one of the Panhandle producers leading the campaign. The grass-roots movement is pushing for the next president of the United States to issue a proclamation setting quotas for imports...
  • Saudi Arabia Approves Economic Reform Program

    04/25/2016 6:40:41 AM PDT · by Tolerance Sucks Rocks · 15 replies
    The Wall Street Journal ^ | April 25, 2016 | Margherita Stancati and Dahlia Kholaif
    RIYADH—Saudi Arabia, crimped by low crude prices, approved Monday a long-term blueprint for the kingdom’s economic transformation aimed at reducing its dependence on oil. The multiyear plan, dubbed “Saudi Vision 2030,” was approved by the cabinet, according to Saudi Arabia’s monarch, King Salman. The Saudi cabinet, in a statement carried by the official Saudi Press Agency, said the government’s economic council would be in charge of overseeing the vision’s implementation. Saudi officials later Monday were to present a broad overview of the country’s most extensive economic shake-up in decades. The steep drop in oil prices has given new urgency to...
  • The Total Collapse of Saudi Arabia is Fast Approaching

    03/07/2016 3:40:27 AM PST · by HomerBohn · 87 replies
    Daily Sheeple ^ | 3/6/2016 | Joshua Krouse
    To the casual observer, Saudi Arabia might seem like an emboldened nation that is asserting itself. They’ve been challenging Iran, fighting rebels in Yemen, threatening to invade Syria, and if some rumors are to be believed, they are currently trying to attain nuclear missiles from Pakistan. However, these aren’t the actions of a stable nation that is asserting its dominance in the region. These are the flailing death throes of a nation that is struggling to hang on. Ever since global oil prices started to plummet, Saudi Arabia just hasn’t been the same. That’s no surprise. Since prices fell, other...
  • Saudi Arabia's oil 'maestro' exits as young prince flexes his muscles

    05/08/2016 2:37:13 PM PDT · by Lorianne
    CNBC ^ | 07 May 2016 | Tom DiChristopher | Patti Domm
    The end of Ali al-Naimi's more than two-decade tenure as Saudi Arabia's oil minister signals a new era for crude markets, analysts said on Saturday, and appeared to be a reaffirmation of Saudi policy to let oil set its own pricing. On Saturday, Saudi Arabia issued a royal decree that replaced al-Naimi with Khalid al-Falih, chairman of Saudi Aramco, as part of a broad reshuffling of the cabinet. The move came as the world's largest oil producer continues to grapple with the fallout from the global bear market in crude oil. Al Naimi was the most watched figure in the...
  • How socialism turned oil-rich Venezuela into a basket case

    05/08/2016 7:52:01 AM PDT · by MtnClimber · 28 replies
    National Post ^ | 6 May, 2016 | Kelly McParland
    Life isn’t much fun these days in the world’s socialist paradise. If you had to choose a country you didn’t want to live in, Venezuela would be near the top of the list. Corrupt, dysfunctional, bankrupt, crime-ridden, drug-infested, short of practically every basic commodity, it can’t keep the lights on, keep the government running or brew its own beer. Last weekend six army officers were arrested for stealing goats from a farm because they were hungry. Venezuela has become the basket case of the western hemisphere, a case study on how not to run a country and a living example...
  • Saudi shake-up rolls on with big reshuffle of economic posts

    05/08/2016 2:55:11 PM PDT · by Lorianne · 7 replies
    Reuters ^ | 08 May 2016 | Angus McDowall and Katie Paul
    Saudi Arabia's King Salman on Saturday replaced his veteran oil minister and restructured some big ministries in a major reshuffle apparently intended to support a wide-ranging economic reform programme unveiled last week. The most eye-catching move was the creation of a new Energy, Industry and Natural Resources Ministry under Khaled al-Falih, chairman of the state oil company Aramco. He replaces the 80-year-old oil minister Ali al-Naimi, in charge of energy policy at the world's biggest oil exporter since 1995. But major changes were also made to the economic leadership, with Majed al-Qusaibi named head of the new Commerce and Investment...
  • Trump reaches out to Teamsters union

    05/07/2016 10:31:06 AM PDT · by BlackFemaleArmyCaptain · 19 replies
    The Hill ^ | 5/7/2016 | Harper Neidig
    Presumptive GOP presidential nominee Donald Trump on Saturday took to Twitter to praise workers in the Teamster union and attack Democratic front-runner Hillary Clinton. The union has not made an endorsement in the election so far, but typically backs Democratic candidates. Trump appeared to be referring to a series of "Teamsters for Trump" groups on Facebook, several of which has members numbering in the thousands. NPR reported this week on Teamsters member who normally back Democrats but prefer Trump this election.
  • 500,000 Barrels And $1 Billion In Losses: The True Cost Of Canada’s Wildfire

    05/05/2016 12:58:18 PM PDT · by bananaman22 · 9 replies
    Oilprice.com ^ | 05-05-2016 | Wildfire
    It took the market over a day to appreciate the fallout from the devastating Canadian wildfire which has led to a state of emergency in Alberta, the evacuation of over 80,000 people in the oil sands gateway city of Fort McMurray, and the destruction of over 1,600 structures. According to insurance industry reports, losses from the fire are approaching $1 billion, and will likely set records for the country. The average cost of a single-family home in the community was recently around CAD$627,000 ($487,000), Aon said, citing data from the local real estate industry, and cited by CNBC. That would...
  • Low Gas Prices: An Election-Year Ploy?

    09/26/2006 6:56:37 AM PDT · by ShadowDancer · 76 replies · 1,879+ views
    ClickonDetroit ^ | September 26, 2006 | AP
    Low Gas Prices: An Election-Year Ploy? Many Think Politicians Manipulating Gas PricesPOSTED: 8:22 am EDT September 26, 2006 WASHINGTON -- There is no mystery or manipulation behind the recent fall in gasoline prices, analysts say. Try telling that to many U.S. motorists. Almost half of all Americans believe the November elections have more influence than market forces. For them, the plunge at the pump is about politics, not economics. Retired farmer Jim Mohr of Lexington, Ill., rattled off a tankful of reasons why pump prices may be falling, including the end of the summer travel season and the fact that...
  • Clinton Apologizes for Saying She’d Put Coal ‘Out of Business’

    05/03/2016 8:48:51 AM PDT · by TangledUpInBlue · 52 replies
    Yahoo Politics ^ | 5/3/16 | Katie Relily
    Hillary Clinton apologized on Monday for saying in March that she would put coal miners and coal companies “out of business” as part of a transition to alternative energy sources. The Democratic front-runner and former secretary of state called the prior remark a “misstatement” as she campaigned in Kentucky, ahead of the state’s Democratic primary on May 17, CBS News reported. The small group discussion took place in what was once one of the country’s top coal producing counties, as protesters gathered outside. “What I said was totally out of context from what I meant,” Clinton said. “It was a...
  • Mark Levin: Donald Trump Screwed Up

    12/14/2015 5:04:24 PM PST · by ConservativeTeen · 218 replies
    Conservative Review ^ | 12/14/2015 | Chris Pandolfo
    On Monday night’s radio program, Conservative Review Editor-in-Chief Mark Levin called out Donald Trump for mimicking the statists and the Republican establishment by attacking rival Ted Cruz and Supreme Court Justice Antonin Scalia over the weekend. Listen: - See more at: https://www.conservativereview.com/commentary/2015/12/daily-mark-up-12_14_2015#sthash.jpItSR5e.dpuf
  • Low Oil Prices? Texas Is Doing Just Fine

    05/02/2016 2:46:15 PM PDT · by bananaman22 · 10 replies
    Oilprice.com ^ | 02-05-2016 | Lone Star
    ith the oil price crash now nearly two years in, there have been some obvious casualties. Dozens of oil related firms have declared bankruptcy, oil service firms have found rig counts collapsed, and thousands of jobs have been lost across the industry with many skilled employees reporting difficulty finding anything more than short-term contract work. Against this backdrop one might have expected a severe economic downturn in Texas, but instead the Lone Star State is holding up surprisingly well. Texas’ economy has long been thought of as being oil driven, but the reality is that the state’s situation is more...
  • Saudi minister confirms warning on proposed U.S. law on 9/11

    05/02/2016 2:33:48 PM PDT · by StCloudMoose · 26 replies
    reuters ^ | 5/2/16
    Saudi Arabia has warned the United States that a proposed U.S. law that could hold the kingdom responsible for any role in the Sept 11, 2001, attacks would erode global investor confidence in America, its foreign minister said on Monday. The minister, Adel al-Jubeir, speaking to reporters in Geneva after talks with U.S. Secretary of State John Kerry, which mainly focused on Syria, denied that Saudi Arabia had "threatened" to withdraw investment from its close ally. The New York Times reported last month that the Riyadh government had threatened to sell up to $750 billion worth of American assets should...
  • Israeli car engine could halve fuel costs, emissions

    04/29/2016 10:51:22 AM PDT · by DJ Taylor · 86 replies
    The Times of Israel ^ | April 27, 2016 | David Shamah
    Aquarius’s new take on internal combustion engines will be the big leap forward that vehicles need, says company founder. The notoriously conservative car business – autos, after all, are still largely powered by the internal combustion engine, developed nearly 150 years ago – is in for big changes, according to Gal Fridman, chief marketing officer and co-founder of Aquarius Engines. “Our enhanced engine design uses energy much more efficiently, and eliminates the valves and rods that cause energy loss,” he said. “If a car equipped with a modern standard internal combustion engine can go about 600 kilometers on a tank...
  • First “Illegal” Shipment Of Oil Leaves Eastern Libya

    04/27/2016 11:52:15 AM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 27-04-2016 | Slav
    A cargo of 650,000 barrels of crude left the Libyan port of Hariga yesterday, in the eastern part of the conflict-torn country, sparking what promises to be another phase in the conflict as the Islamic-leaning government in Tripoli vows to block the maneuver. This premature attempt at crude oil exports could have huge implications for international efforts to unite the country under the new Government of National Accord (GNA), which was formed with UN support, because eastern Libya is controlled by a government based in Tobruk, which has not yet recognized the GNA of Fayez Serraj.
  • About Oil, Obama Has Been Dead Wrong

    12/28/2015 5:03:23 AM PST · by expat_panama · 38 replies
    The Washington Times ^ | Stephen Moore
    The green doomsayers have repeatedly claimed the fuel is disappearing It would be hard to find anyone in all of America who has been more wrong on the American energy story than Barack Obama. Oil prices have fallen from $105 a barrel in the summer of 2014 to hovering at $35 a barrel today. That’s a two-thirds reduction in the price and the biggest factor is shale oil brought to you by fracking. In many areas of the country gas is now less than $2 a gallon and it could fall further in the weeks ahead. The falling price means,...
  • Study: European Plan To Reduce CO2 Emissions Actually Increased Them(DOH!)

    04/26/2016 9:29:03 AM PDT · by rktman · 16 replies
    dailycaller.com ^ | 4/26/2016 | Andrew Follett
    Europe’s plans to reduce carbon dioxide (CO2) emissions by switching from conventional oil to biofuels actually ended up increasing emissions, according to a study published Monday by the environmental group Transport & Environment (T&E). The study found, on average, biofuel from vegetable oil creates 80 percent more CO2 emissions than the conventional oil it replaces. The report estimates the biofuels create new emissions equivalent to putting an extra 12 million cars on the road.