Category: Europe

Total sells Nigeria offshore oil stake for $2.5 billion

It’s a sign of China’s growing stakes in the West African nation’s oil production.  More »

Exxon Mobil says EU should stress natural gas

Closer integration of the European Union’s natural gas and power markets can encourage a shift to less-polluting fuels in the bloc’s member states and help reduce carbon-dioxide emissions, according to Exxon Mobil Corp.  More »

Portugal Pursues Strategic Vision Beyond Austerity

As a continent, Europe has been a global leader in climate policy, international conflict resolution, and global security. But Europe now stands at a difficult crossroads: it faces the task of revitalizing faltering economies and resolving a global debt crisis. Portugal, a global leader in renewable energy, is a particularly interesting case in which national […]  More »

Is fracking flopping on foreign finances?

Hydraulic fracturing, the drilling process that releases oil and natural gas from deep inside shale formations, has sparked a boom in the U.S. and a glut of natural gas that has driven prices to their lowest in a decade. While there’s been a lot of talk about exporting fracking techniques to other parts of the [...]  More »

North Sea still holds promise

While the North Sea’s oil fields are more mature than newer areas of offshore discovery, the waters still can provide decades of opportunity — especially with high oil prices as an incentive — according to industry experts and Britain-boosters at the Offshore Technology Conference.  More »

Where Commodities And CSI Miami Meet

Worlds collide this week as I have been distracted by the combo of CSI Miami and relative value … leaving us to delve into the world of ratios and Horatio. So, let’s take a look at some aspects currently present in Energyville™, kick-started by terminology used in the world of Horatio Caine. 1) BALLISTICS This relates to the […]  More »

EU delays vote on stamping oil sands with anti-environment label

The European Commission is set to delay voting on whether to label oil from oil sands as worse for climate change than other forms of crude, delivering a victory to Canada.  More »

Around The World In 80 Seconds

Given that this week feels like it has been all over the place, it seems somewhat appropriate that this post should do the same. So let us go around the world in 80 seconds, taking a look at some random energy nuggets from various corners of the globe. SAUDI ARABIA – given that electricity demand […]  More »

Clinton predicts “profound effect” from SEC disclosure rules

Secretary of State Hillary Rodham Clinton predicted Thursday that pending rules to require oil, gas and mining companies to disclose payments o host governments would have a “profound effect” on curbing corruption and boosting transparency in foreign nations  More »

Democrats up calls for Obama to consider oil reserves

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 »

White House denies U.S.-U.K. agreement on tapping oil reserves

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 »

Why High Oil Prices Are Now Affecting Europe More Than the US

The world is presently sharing a limited supply of oil. When oil prices rise, oil production doesn’t rise very much, if at all.

world-oil-supply-and-brent-oil-price.png
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 this ...

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