Democrats increased their recent calls for President Obama to release oil from the Strategic Petroleum Reserve, noting oil prices dropped Thursday after a report, which the White House denied, that the U.S. and Britain had agreed to release oil from their reserves. More »
The White House denied a news report that the United States and Britain had agreed to cooperate releasing some oil from strategic reserves to counter rising asoline prices. More »
The world is presently sharing a limited supply of oil. When oil prices rise, oil production doesn’t rise very much, if at all.
Figure 1. Brent oil spot price and world oil supply (broadly defined), based on EIA data.
The issues then become: Which buyers get the oil? What uses get priced out of the market? Which countries are disproportionately affected?
It seems to me that ... More »
Two Republican senators including Texas Sen. John Cornyn urged the Securities and Exchange Commission to add exemptions to proposed disclosure requirements for oil, gas and mining companies’ payments to host nations, saying the rules would harm U.S. industry. More »
Secretary of State Hillary Clinton on Tuesday called on the Securities and Exchange Commission to “go as far as possible” with rules requiring certain oil, gas and mining companies to disclose their payments to host nations. More »
Stuart Staniford is a scientist and innovator in the technology industry with advanced degrees in physics and computer science.
This post presents the latest data from the Energy Information Administration (EIA), the International Energy Agency (IEA), and the Organization of Petroleum Exporting Countries (OPEC) on crude oil and associated liquids production and price as of January 2012. This article is cross posted from Early Warning, ... More »
Microsoft founder Bill Gates has come to the defense of proposed rules that would require certain oil, gas and mining companies to disclose what they pay to nations whose resources they develop, in the face of strong lobbying against the rules from the oil-and-gas industry. More »
Consumption of renewable-energy sources will grow more quickly by 2030 than it will for any other energy source, while oil will grow slowly enough to lose market share, according to a new report by BP. More »
Recruiting from the shipbuilding, military and construction industries is the best way for the oil and gas industry to overcome the lack of skilled workers, according to recruitment firm NES Global Talent. More »
European demand for diesel led to record exports and depleted domestic inventory of distillate fuels by 13 million barrels in the last quarter of 2011, according to a federal report. More »
Andrew Gould, chairman of oilfield service giant Schlumberger, will become chairman of BG Group next year, the British gas firm announced in a press release today. More »
Total SA, Europe’s third-largest oil producer, said profit rose 13% amid higher prices and improved refining results even as production dropped for the third straight quarter. More »