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U.S. Drivers: Shut Up, Stop Whining, You Don't Pay $8/Gallon

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Turmoil in Libya is making global oil markets nervous. That means higher gasoline prices. Cue the creeping unease and outright fear that Our American Way Of Life May Be In Peril. Well, it's Monday morning, and we have a brisk message for our U.S. readers: Shut up and stop whining. So gas is over $3 a gallon, maybe even edging close to $4

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Uber, Lyft respond to Trump ban on entry to US from targeted countries

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Last Friday, President Trump signed an executive order suspending “immigrant and nonimmigrant entry” into the US from Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen for 90 days, with the potential for adding further countries of origin to the list of proscribed. Have lawyers and immigration experts will be on call 24/7 to help. Brief

EIA: China is now the world’s largest net importer of petroleum and other liquid fuels

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Click to enlarge. US total annual petroleum and other liquids production is expected to rise 31% between 2011 and 2014 to 13.3 million barrels per day.

Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

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The much smaller amount of global CO 2 emissions from gas flaring did not change significantly in 2011, with the largest increases occurring in the United States and Russia, and the largest decrease occurring in Libya. CO 2 per capita emissions from fossil fuel use and cement production from the top 5 emitting regions. Click to enlarge.

Iran negotiations, OPEC meeting loom for oil markets

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Libya’s Prime Minister visited Riyadh on November 13, arriving just as Iraq’s President departed. by Nick Cunningham of Oilprice.com. As November draws to a close, there are two major events that could profoundly change the oil markets. In exchange the US has suggested Iran could maintain some domestic ability to enrich uranium.

Platts: June OPEC output of 32.73M barrels of crude per day, highest since Aug. 2008

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million b/d, as production in Nigeria and Libya tentatively recovered along with steady increases for Saudi Arabia and Iran, according to an S&P Global Platts survey of OPEC and oil industry officials. million b/d production capacity, but in early July Libya’s National Oil Corp. million b/d in June in order to meet domestic demand.

Platts Survey: OPEC pumps 31.28M barrels of crude per day in June; highest since Aug 2012

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In Libya, output slipped by 20,000 b/d to 410,000 b/d as it continued to struggle to raise production due to ongoing security issues and technical limitations. Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.28 The June total leaves OPEC pumping nearly 1.3 million b/d. million b/d in June. Brief

Opinion: Who Will Be Left Standing At The End Of The Oil War?

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And that’s with per barrel production costs of around $31/$32 in Nigeria, $23/$24 in Libya, and $10/$11 in Iraq. So the breakeven is elusive.

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Oil Prices Running Out Of Reasons To Rally

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Meanwhile, Libya is seeing rapid gains in oil exports after the reopening of a key export terminal, with output jumping to 700,000 bpd, according to the latest data, up sharply from the 580,000 it produced in November and the 300,000 bpd it exported before it started restoring output last summer. by Nick Cunningham of Oilprice.com.

IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola. The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Brie

IEA March Oil Market Report revises 2015 demand forecast upward

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mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. Having bottomed?out out in the second quarter of 2014, global oil demand growth has since steadily risen, with year?on?year year gains estimated at around 0.9 million barrels per day (mb/d) for the final quarter of last year and 1.0 mb/d year?on?year

Increase in US rig count will not cap oil prices

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by David Yager for Oilprice.com. The premise was you could get out of the army if you were crazy but you weren’t crazy to try to get out of the army.

US DOE, IEA member countries releasing a total of 60 million barrels of oil from reserves

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The IEA estimates that the unrest in Libya had removed 132 million barrels of light, sweet crude oil from the market by the end of May. As part of this effort, the US will release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). The SPR is currently at a historically high level with 727 million barrels. Brief

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Opinion: How Much Longer Can OPEC Hold Out?

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by Gaurav Agnihotri for Oilprice.com. Source: opec.org). All is not well for OPEC. Iran Nuclear Deal: A warning sign for OPEC? Venezuela’s Woes.

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. trillion of $3.05

Study reports non-US global shale gas recoverable resources of 5,760 Tcf; global shale gas boosts total recoverable natural gas resources by 40%

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In addition to the United States, this group includes Canada, Mexico, China, Australia, Libya, Algeria, Argentina, and Brazil. Map of 48 major shale gas basins in 32 countries. Source: EIA. Click to enlarge. A new EIA-sponsored study by Advanced Resources International, Inc. —EIA Administrator Richard Newell. Data: EIA. Background.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Putin has aligned Russia with OPEC’s have-nots—the members lacking financial resources to withstand low crude prices for an extended period and that have objected to Saudi policies (Iran, Iraq, Angola, Nigeria, Libya, Algeria, Ecuador, and Venezuela)—against the haves (Saudi Arabia, Kuwait, the UAE, and Qatar). Live by Energy….

RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

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Notable examples of nations where security shortfalls are significantly impeding investment and production are Nigeria; Iraq; Sudan; and, most recently, Libya. From a cost perspective, the potential of alternative fuels is of limited, if any value, according to the lead report written by James Bartis, a RAND senior policy researcher. Sawak.