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Opinion: Consumers winning with low oil prices, for now

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Columbia and Associate Director of the Maguire Energy Institute at the Cox School of Business at Southern Methodist University in Dallas says it has: “No question we’re seeing the effects of lower oil prices throughout the economy.”. Bernard Weinstein, Ph.D., However, the decline continues to hammer drillers and producers hardest.

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IHS Markit: conventional oil & gas discoveries at lowest levels in 70 years; major rebound unlikely

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Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.

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IEA WEO-2012 finds major shift in global energy balance but not onto a more sustainable path; identifies potential for transformative shift in global energy efficiency

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The global energy map is changing significantly, according to the 2012 edition of the Internal Energy Agency’s (IEA) World Energy Outlook ( WEO-2012 ). The IEA said these changes will recast expectations about the role of different countries, regions and fuels in the global energy system over the coming decades.

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KPMG study identifies 10 sustainability “megaforces” with accelerating impacts on business; imperative of sustainability changing the automotive business radically

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In a new study, KPMG International has identified 10 “megaforces” that will significantly affect corporate growth globally over the next two decades. The report was released on the opening day of KPMG’s global “Business Perspective on Sustainable Growth: Preparing for Rio+20” summit occurring this week in New York.

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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Today, the leaner $9-billion project, which also includes capacity for water injection, is projected to be profitable at or below current oil prices. Earlier post.).

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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Such an increase in capacity could prompt a plunge or even a collapse in oil prices, he suggests.

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When Will Russia Run Out Of Oil?

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On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 percent of global proved reserves. by Viktor Katona for Oilprice.com. In 2016, only 3.7 million tons.

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