article thumbnail

With oil prices low, early signs of a pullback in drilling activity

Green Car Congress

With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending. Oil prices have dropped around 30 percent since summer highs, raising fears among producers across the globe. Yet, many oil majors are relatively diversified, with large holdings downstream.

article thumbnail

Opinion: Consumers winning with low oil prices, for now

Green Car Congress

Lest we be too quick to forget whence we came, America is now 9-months into lower gasoline prices, which started their swoon the week of June 30, 2015 from a lofty national average just under $3.70, tumbling almost every subsequent week before bottoming and bouncing from $2.02 the end of January, according to gasbuddy.com.

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ). in 2015 and 2016 respectively). in 2015 and 2016 respectively).

Russia 150
article thumbnail

Near-Term Prospects for Automotive Li-ion Batteries: 21% of Hybrid and EV Market by 2011

Green Car Congress

In the near-term (2011), lithium-ion batteries could grow to represent about 21% of the hybrid and EV advanced battery market, according to Dr. Menahem Anderman, President of Advanced Automotive Batteries and the organizer of last week’s Advanced Automotive Battery Conference 2009. By 2015, he suggests, full hybrids (e.g.,

Li-ion 150
article thumbnail

Opinion: The Shale Delusion: Why The Party’s Over For US Tight Oil

Green Car Congress

Despite brash statements by US producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oil prices as the world production surplus continues. percent in August 2015. OPEC and US crude oil production.

Oil 150
article thumbnail

The driving force behind the US oil boom

Green Car Congress

And while oil prices slumped in October, drilling activity continues to rise, according to Baker Hughes , the third-largest oil services company. RBC Capital Markets estimates that 20,061 horizontal wells will be drilled in the United States alone this year, with that number increasing by well over 1,000 in 2015.

Oil 261