article thumbnail

Commentary: Could falling oil prices spark a financial crisis?

Green Car Congress

When oil prices were high and production was relentlessly climbing, energy related junk bonds looked highly profitable. The situation will compound itself if oil prices stay low. Without the ability to finance drilling, smaller or more indebted oil companies may not have a future.

article thumbnail

US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

Green Car Congress

The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 In March 2020, crude oil prices decreased because of the sudden drop in petroleum demand that resulted from the global response to the coronavirus (COVID-19) pandemic.

Oil 418
article thumbnail

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. But along with all of the excess crude flowing from the oil patch, there is also an abundance of market indicators that while important, tend to produce a lot of noise that makes any accurate estimate nearly impossible.

article thumbnail

EIA Energy Outlook 2013 reference case sees drop in fossil fuel consumption as use of petroleum-based liquid fuels falls; projects 20% higher sales of hybrids and PHEVs than AEO2012

Green Car Congress

Biofuels grow at a slower rate due to lower crude oil prices and. The decline reflects increased domestic production of both petroleum and natural gas, increased use of biofuels, and lower demand resulting from the adoption of new vehicle fuel efficiency standards and rising energy prices. Biomass and biofuels growth is slower.

Fuel 225
article thumbnail

State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

Green Car Congress

These avenues include alternative pipeline capacity to support Western Canadian, Bakken, and Midcontinent crude oil movements to the Gulf Coast as well as rail to transport large volumes of crude oil to East, West, and Gulf Coast markets.

article thumbnail

State Department releases Keystone XL Final Supplemental Environmental Impact Statement

Green Car Congress

The proposed route evaluated differs from the route analyzed in the 2011 Final Environmental Impact Statement in that it would avoid the environmentally sensitive Nebraska Department of Environmental Quality (NDEQ)-identified Sand Hills Region and no longer includes a southern segment from Cushing, Oklahoma, to the Gulf Coast area.

Oil-Sands 220
article thumbnail

The Game-Changing Water Revolution: Interview with Stanley Weiner

Green Car Congress

What it means immediately is higher food prices across the US. Parts of Oklahoma are hard hit by drought. Stanley Weiner: Our pilot project in the Permian Basin has definitely attracted the attention of oil and gas companies who are hurting for water supplies and struggling with low oil prices and thus have problems justifying costs.

Water 150