The US has come so close to becoming energy independent. But it’s going to have to get its head around the idea that it could become a big oil importer again. In the end, the US energy boom may add up to nothing more than an illusion dependent upon the artificially cheap debt environment created by the Federal Reserve’s easy money policy.
The Oil Slump Will Hurt the U.S. Too Read More »
In recent posts we’ve told you about Russia Eying Crimea’s Oil and Gas Reserves and about the Total War over the Petrodollar and More on the PetroDollar and we’ve considered why the recent OPEC meeting maintained production in spite of declining prices rather than cutting production to keep prices up as they’ve done in the past. There has been some speculation that falling oil prices would hurt Russia (and a variety of other energy producers like U.S. natural producers, wild-catters, small production companies, etc.).
But in today’s article Marin Katusa takes a look at the flip side of falling oil prices and Russia’s resilience. ~Tim McMahon, editor.
Why Russia is Unfazed by Falling Oil Prices Read More »
If you are going to understand the relationship between the Middle East, China, Russia and the U.S. you need to understand the role the Petrodollar plays in all of this. So with that in mind we present another look at the Petrodollar in this article
More on the PetroDollar Read More »
The world currently consumes roughly 82 million barrels of oil a day. These five oil fields produce roughly 9.5 million barrels a day with West Qurna hoping to increase production by another 2 million per day. So together they currently produce about 11% of the total world consumption. If production is increased as anticipated they could be producing as much as 14% of world consumption.
The World’s Five Most Important Oil Fields Read More »
The great hype surrounding the advent of a shale gas bonanza in California may turn out to be just that: hype. The U.S. Energy Information Administration (EIA) – the statistical arm of the Department of Energy – has downgraded its estimate of the total amount of recoverable oil in the Monterey Shale by a whopping
Bursting the California Shale Bubble Read More »
Russian President Vladimir Putin said he doesn’t think the European community can do without the natural gas it gets from energy monopoly Gazprom. With a Russian economy starting to decline, however, it may be Gazprom that’s too strongly interconnected to the European market to break free. The narrative over European energy security reaches at least
Will Putin Lose His Eastern European Energy Gamble? Read More »
Birth of a New Ukrainian Nation? Interview with Robert Bensh Ukraine’s Crimean Peninsula is now Russia’s. It was done with an impressively organized non-violent military operation, and supported by the foregone conclusion of a referendum on independence from Ukraine. One Ukrainian soldier was reportedly killed on 18 March, after Russian President Vladimir Putin signed the
What the Loss of Crimea Means for Ukrainian Energy Read More »
The results of Crimea’s referendum appears to be solidly in favor of the Crimea joining Russia. This was to be expected since the majority of the residents of Crimea are of Russian rather than Ukrainian descent and most speak Russian. The only problem is that Crimea isn’t physically connected to Russia (much like Alaska isn’t connected to the U.S.).
Russia Eyes Crimea’s Oil and Gas Reserves Read More »
For two centuries the Kurdish people have been fighting for independence from their Arab neighbors. The Kurdish region is located along the border where Iran, Iraq, Turkey, and Syria meet. The Kurds have been subject to repression and often genocide but continue to fight for independence. Today we will look at the most recent economic skirmish between the new Iraqi government and the Kurds. At first, it may appear that it is simply a battle for Oil revenue but there is more to it than that.
Iraqi Government Threatens Action Against Kurds as Oil Exports Set to Begin Read More »
The environmental impact of “fracking” has been the subject of some debate in recent years. It is the process of pumping water and some other agents into oil wells under pressure in an effort to open cracks in the rock and allow the oil and gas to get out. This process is largely responsible for the massive expansion in U.S. natural gas production allowing us to approach energy independence. So oil companies are very protective of the technology. Environmentalists on the other hand have ascribed everything from water pollution, drought and earthquakes to the process. In today’s article, we will look at a new wrinkle to the fracking debate relating to off-shore fracking.
New EPA Rule Requires Chemical Disclosure for Offshore Fracking Read More »
