Opinion: Why oil prices must go up

Green Car Congress

It may be difficult to look beyond the current pricing environment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. The industry did not log a single “giant” oil field.

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

Green Car Congress

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. oil may not be able to fill. Market Background Oil

Opinion: The Saudi Oil Price War Is Backfiring

Green Car Congress

Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump.

Opinion: Everyone Is Guessing When It Comes To Oil Prices

Green Car Congress

Predicting and diagnosing the trajectory of oil prices has become something of a cottage industry in the past year. First there is the oil price itself. Since then, predictions for oil prices for 2015 have been all over the map— from Citigroup’s $20 per barrel, to T.

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Increase in US rig count will not cap oil prices

Green Car Congress

The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices.

Gas Prices To Plunge More After Oil Price Falls To 4-Year Low?

Green Car Reports

Oil prices are at their lowest levels in four years, and retail gasoline prices are likely to follow--more or less. celebrated its Thanksgiving holiday, oil prices fell 7 percent after OPEC announced it would leave production levels unchanged, according to CNN. The price of WTI crude oil in the U.S. Thursday, while the U.S.

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Low oil prices hurting some US shale operations; slumping oil prices putting pressure on drillers

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The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. There are now 1,590 active oil rigs, the lowest level in six weeks. We could easily see the oil rig count down 100 by the end of the year, or more.” Some of the more expensive shale regions will not be profitable at current prices.

Oil Well Strippers Suffering From Low Oil Prices

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With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil. billion barrels of oil and 18.8 Mcf of natural gas. percent of the US oil output, so they are a non-trivial source of US production.

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Will Oil Price Collapse Because We're Out Of Room To Store It?

Green Car Reports

Oil prices have dropped precipitously over the past few months, and while that''s led to lower gas prices, it''s also creating a somewhat unusual problem. No matter how much or little oil the national economy is consuming, it''s still pumped out of the ground in massive quantities. MORE: Gas Prices To Plunge More After Oil Price Falls To 4-Year Low

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Opinion: The Current Oil Price Rally Is Reaching Its Limits

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Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. US oil production has steadily lost ground over the past two quarters, with production falling more than a half million barrels per day since hitting a peak at nearly 9.7 That is not good news for oil prices.

Oil price collapse hurting some more than others

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US oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending. While that may soon begin to cut into actual production figures, a new Wood Mackenzie report finds a lot of nuance in the oil patch, painting a complex picture of what to expect in 2015.

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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 It is estimated that for every penny gas goes down, consumers collectively save $1 billion. decline curves eventually catch up with fewer rigs, oil supplies should start to fall. Market Background Oil

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Opinion: Here’s what will send oil prices back up again

Green Car Congress

Oil’s rapid decline since August of last year has been dramatic. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. Supply alone, however, doesn’t determine price.

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$10-Trillion Investment Needed To Avoid Massive Oil Price Spike Says OPEC

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OPEC says that $10 trillion worth of investment will need to flow into oil and gas through 2040 in order to meet the world’s energy needs. The OPEC published its World Oil Outlook 2015 (WOO) in late December, which struck a much more pessimistic note on the state of oil markets than in the past. On the one hand, OPEC does not see oil prices returning to triple-digit territory within the next 25 years, a strikingly bearish conclusion.

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Nothing to See Here - Oil Prices Retreat.from $90.07

Plugs and Cars

Forbes 12:43pm ET: Oil retreats from today's record highs around 90 usd as traders lock profits Bloomberg Crude Oil Falls From Record on Signs U.S. Supplies Are Adequate Associated Press Oil Futures Retreat From $90 Record CNN Money Oil retreats from $90, but gas keeps climbing. Tags: petroleum Big Oil

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BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

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The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 For example, if lower oil prices last, they are likely to slow the growth of the electric vehicle market, to some extent.

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Opinion: This Is What Needs To Happen For Oil Prices To Stabilize

Green Car Congress

On September 10 th , the EIA reported a production decline in the Lower 48—essentially shale production—of 208,000 BOPD (barrels of oil per day). Rather, Goldman Sachs was grabbing all the headlines with its $20 call on oil. Shale oil wells lose a lot of production up front, maybe 70 percent in the first year before tapering off at a 5 to 10 percent annual decline over the next few years until leveling off for the life of the well—maybe 20 years or so out.

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Douglas-Westwood: decline in oil prices may impact development of subsea processing

Green Car Congress

In the Douglas-Westwood Monday note , Andy Jenkins from the energy research group’s London office observes that the decline in oil prices may impact deepwater production and in particular a key future enabler: subsea processing (SSP). Unfortunately, these concerns are likely to be magnified by current oil prices and an associated reduction in capital spending.

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Coming This Fall: The Return Of Cheap $2 Gas

Green Car Reports

drivers have enjoyed unusually low gas prices, due to a variety of factors. While gas prices are at their lowest in years, oil prices have dropped by an even greater margin, meaning there should be room for gas prices to decrease even more. DON'T MISS: Gas Prices Matter To U.S. Green oilSo far this year, U.S. But it seems they could be even lower.

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Obama: Buy A Fuel-Efficient Car, Gas Won't Stay Cheap Forever

Green Car Reports

Low gas prices typically make fuel-efficient cars less attractive to consumers, and right now prices are very low indeed. car buyers won''t clamor for gas guzzlers. DON''T MISS: Gas Prices To Plunge More After Oil Price Falls To 4-Year Low? He cautioned that cheap gas prices won’t last indefinitely, and

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Surprise Natural Gas Drawdown Signals Higher Prices Ahead

Green Car Congress

The US electric power sector burned through a record amount of natural gas in recent weeks, a sign of the shifting power generation mix and also a signal that natural gas supplies could get tighter than many analysts had previously expected. Natural Gas Power Generation

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Navigant: almost 39,300 natural gas refueling stations worldwide by 2026

Green Car Congress

The total number of natural gas refueling stations globally will reach almost 39,300 locations by 2026, according to a new report from Navigant Research. Since late 2014, the production of crude oil has outpaced demand, triggering a sustained collapse in world oil prices, which have remained mostly below $50 per barrel. As a result, these low prices have put pressure on the market for natural gas vehicles (NGVs) and the corresponding refueling infrastructure.

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FCA, IVECO and Snam sign MoU for development of natural gas as an environmentally friendly vehicle fuel

Green Car Congress

Alfredo Altavilla (Chief Operating Officer of FCA EMEA Region), Pierre Lahutte (IVECO Brand President) and Marco Alverà (Chief Executive Officer of Snam), signed a Memorandum of Understanding (MoU) aimed at fostering the development of natural gas as a fuel for road vehicles. Italy is the leading European market for natural gas consumption for vehicles, with more than 1 billion cubic meters consumed in 2015 and about 1 million vehicles currently in circulation. Europe Natural Gas

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Peak Oil Perceptions: If Gas Prices Soar, Who's Most Pessimistic?

Green Car Reports

Just three months ago, the average gas price crossed 4$ a gallon. Now, oil prices have plummeted to their lowest level this year in response to the Standard & Poor's U.S. We'll continue to be whipsawed by changes in oil prices, reflected in the price per gallon we pay for gasoline. debt rating downgrade. That's just a fact of modern life.

Navigant forecasts global annual natural gas vehicle sales to reach 3.9M in 2025, up 62.5% from 2015

Green Car Congress

In its new Natural Gas Vehicles report, Navigant Research forecasts that global annual NGV sales—light-, medium- and heavy-duty—will grow 62.5% Various regional factors affect the markets for natural gas vehicles (NGVs), Navigant observes. Fleets Forecasts Natural Gas Sale

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California Gas Prices Set To Soar Beyond 2008 High Of $4.61

Green Car Reports

Gas prices are going up. With the Golden State already paying some of the highest gas prices in the nation, California drivers will find it's going to get more costly than ever to fill their tanks. According to Reuters, oil analyst Tom Kloza, chief oil analyst for Oil Price Information Service, expects the Brace yourself, Californians. Again.

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Opinion: Political Climate Shifting Against The Oil And Gas Industry

Green Car Congress

Oil and gas companies have had a tough time over the past year trying to weather the storm of falling oil prices. Drilling oil and gas wells requires a lot of money. For companies that have seen their revenues vanish because of collapsing oil prices, access to credit is obviously critically important. Put another way, about 12 percent of all loans to oil and gas companies are rated “substandard” or worse.

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Sasol bails on $13-$15B US GTL project, divests from Canadian shale; no new greenfield GTL

Green Car Congress

At the company’s Capital Markets Day 2017 in Johannesburg, South Africa, Sasol management said that the company will no longer pursue its proposed ) project in the US ( earlier post ) and furthermore will not invest in additional greenfields gas-to-liquids (GTL) projects. In January 2015 Sasol announced it was delaying a final investment decision on the proposed project near Lake Charles, Louisiana to conserve cash in response to lower oil prices.

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EIA: Price ratio of crude oil to natural gas continues to increase

Green Car Congress

The ratio between the spot prices of crude oil and natural gas has been generally increasing since January 2009, but it has climbed rapidly in recent months, according to data from the US Energy Information Administration (EIA). Crude oil to natural gas price ratio.

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Lux: nearly $7B in private investment in emerging oil & gas E&P technologies over last decade

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In the peak (by dollars) year of 2011, $866 million went to a single startup, Laricina Energy, and its process involving solvent-cyclic steam assisted gravity drainage (SC-SAGD) to boost production of bitumen from Canada’s oil sands.

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The Real Reason for USA based Economic Recessions.

DIY Electric Car

The True Cause of Recessions: OIL. I was asked to speak about the economic impact of our oil dependency and so I began researching this topic to see if I could draw some insightful conclusions. There have been 5 recession since then until now and I wanted to see if Oil had anything to do with them, because deep in my heart, I knew the most recent recession was directly caused by the oil price spikes that started in 2007 and peaked in 2008.

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Multiple Trends Turning Slowly Against Oil, Says Rocky Mountain Institute

Green Car Reports

The cost of a barrel of oil is now just a fraction of what it was several years ago, and fuel prices have mostly fallen across the globe as a result. Oil prices rise and fall, but most industry analysts suggest that the emergence of North American production has loosened OPEC's ability to set prices unilaterally. Green Fuel Gasoline electric utilities energy natural gas renewable energy

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US offshore oil and gas leasing plan for 2017-2022 focuses on Gulf of Mexico, excludes Arctic

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The OCS Lands Act requires the Secretary of the Interior to prepare a Five-Year Program that includes a schedule of potential oil and gas lease sales and indicates the size, timing and location of proposed leasing determined to best meet national energy needs, while addressing a range of economic, environmental and social considerations. The vast majority of US offshore oil production occurs in the Gulf of Mexico. Arctic Oil Policy

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Petrobras says it is expanding oil and gas production in the pre-salt in “economically viable” manner

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Responding to press articles saying that the collapse of the global oil price is threatening oil and gas production in the off-shore Brazil pre-salt layer, Petrobras countered that it is expanding its production capacity “in an economically viable manner.” On Tuesday, 6 January, the price for WTI crude closed at $47.93/bbl, while Brent crude closed at $51.10.

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Gas Prices: How Much Are YOU Paying At The Pump In Taxes? (Infographic)

Green Car Reports

Gas prices go up and down, lately more up than down. government has decided to release a portion of its strategic petroleum reserve, just as crude-oil prices continued a decline that started several weeks ago. Gas prices vary enormously from state to state, due to geography--it costs a lot to get liquid fuel to Alaska and Today, however, the U.S.

Could Gas Prices Fall This Summer? Don't Count On It

Green Car Reports

Every year, as the weather improves in the spring, gasoline prices start to creep higher. per gallon--might be halted, even reversed, if wholesale oil prices continue to fall as they did today. But this year, could it be that the pattern is broken? The recent run-up to record levels--California is now paying an average of $4.26 As of Monday

EIA Energy Outlook 2011 more than doubles estimates of US shale gas resources; higher production at lower prices

Green Car Congress

Shale gas offsets declines in other US supply to meet. This larger resource leads to about double the shale gas production and more than 20% higher total lower-48 natural gas production in 2035, with lower natural gas prices, than was projected in the AEO2010 Reference case.

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Lux Research projects methanol-to-gasoline most competitive route for liquid fuels from natural gas or waste

Green Car Congress

The price disparity between crude oil and other resources, coupled with the emergence of cheap and abundant shale gas, especially in the United States, is opening up opportunities to produce cheaper gasoline, according to a new report from Lux Research. Lux Research analysts studied the cost of 21 biomass-to-liquids (BTL) and gas-to-liquids (GTL) processes. GTL (gas-to-liquids) can make ethanol more cheaply, but offers limited product value.

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GE and Sargas AS partner on gas-fired plants with carbon capture for enhanced oil recovery

Green Car Congress

GE has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR).

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Bill aims to boost natural gas vehicles

Green Cars News

Earlier this week, US lawmakers unveiled legislation introducing financial incentives for the use of vehicles fuelled by natural gas. The bill, which was sponsored by Democratic Senator Robert Menendez, will extend tax credits for 10 years on buying vehicles that run on natural gas as well as installing natural gas refuelling stations. It is expected that the bill will also provide grants for the development of light- and heavy-duty natural gas engines.

More Job Losses Coming To US Shale

Green Car Congress

With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran’s crude oil supply would further contribute to the already rising global supply glut. Sabine Oil and Gas Corp.

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Forecast: global spending in 2011 on advanced oil and gas exploration technologies to total $10.17 billion

Green Car Congress

UK-based market analyst visiongain projects that global spending in 2011 on advanced oil & gas exploration technologies will total $10.17 As the need to find new oil and gas deposits increases, the exploration industry will be relentlessly driven toward the use of more advanced surveying methods, including seismic 2D, 3D and 4D imaging, Controlled Source Electromagnetics (CSEM) and Remote Sensing techniques.

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Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

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Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. The new report— Oil & Gas Capital Expenditure Outlook, H1 2012 —forecasts that the total oil and gas capex will increase by 13.4%

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