A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

U.S. crude inventory build sends oil prices down

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The U.S. Energy Information Administration said domestic oil tanks last week took in an additional 4.8 million barrels of crude, boosting inventories to 490.7 million barrels. That’s the largest amount of oil the nation has had in reserve since a record-setting supply bulge in April.
Charif Souki, former CEO of Cheniere Energy speaks during an interview. (James Nielsen/Houston Chronicle)

Ousted Cheniere CEO says he is staying on board of directors

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Charif Souki said he intends to stay on Cheniere Energy Inc.’s board of directors for the time being and that the company doesn’t have the authority to remove him until at least June.
U.S. regulators expect their review of the proposed Halliburton-Baker Hughes merger to last into the new year.  (AP Photo)

Chances for Halliburton-Baker Hughes deal down to a “coin flip,” analyst says

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The pair of Houston-based oil field services giants said they have been unable to resolve the Justice Department’s concerns over the deal by today’s deadline.
An oil tanker navigates the Houston Ship Channel in Houston, Texas. (Carter Smith/ Bloomberg News file photo)

Lifting crude export ban is “stocking full of soot” for refiners

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Congress may be close to reaching an overall budget deal that would include lifting the exports, which would equate to an early Christmas present for exploration and production companies seeking more buyers for their oil and also a “stocking full of soot for the refiners,” Wells Fargo Securities said in a new report.
Solar panels stand in a field in front of wind turbines at the Woodlawn Wind Farm, operated by Infigen Energy, in Bungendore, New South Wales, Australia, on Friday, July 31, 2015. Wind supplied 4 percent of the nationÕs electricity -- equivalent to 1.3 million homes -- at the end of 2013 with new investment almost doubling last year to A$1.5 billion, according to the Clean Energy Council. Photographer: Brendon Thorne/Bloomberg

Texas leads nation in both wind and natural gas power growth

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Texas accounted for more than one-third of the new wind and natural gas-fired power added to the nation’s electric grid this year through September.

Groucho Marx and the IPCC

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On his TV show the late Groucho Marx asked a contestant, “Are you going to believe me, or what you see with your own eyes?” The new chair of the Intergovernmental Panel on Climate Change (IPCC)—Hoesung Lee– must have found great wisdom in Groucho’s quote because he essentially used it recently when he told Reuters, […]
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(Ty Wright/Bloomberg)

Nationwide gasoline average may finally dip below $2 a gallon

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U.S. oil prices at $35 a barrel are also at their lowest point since that time, and the nationwide gasoline average could finally drop below $2 this week..
In this April 24, 2015 photo, pumpjacks work in a field near Lovington, N.M. (AP Photo/Charlie Riedel)

Record short positions, brimming inventories, rising production anchor prices

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Five hundred and twelve years after the birth of Nostradamus, and financial markets remain just as ever hard to predict. The crude complex, however, is somewhat less surprising, heading lower for a seventh consecutive day as oversupply woes weigh heavy (again, again, again). In terms of overnight economic data flow, Japanese industrial production was in […]
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A OPEC logo sits on a sign outside the 167th Organization of Petroleum Exporting Countries (OPEC) conference in Vienna, Austria, on Friday, June 5, 2015. The Organization of Petroleum Exporting Countries has exceeded its own target of 30 million barrels a day for 12 straight months. Photographer: Lisi Niesner/Bloomberg

Paris Climate Accords, Shale and Implications for OPEC

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Since the 1980s, the Organization of Petroleum Exporting Countries (OPEC) has operated from the assumption that someday in the future (for years, viewed as by the 2010s), the industrialized world would use up its “easy” oil and become increasingly dependent on OPEC and in particular the vast reserves of the Middle East. In this world, […]
Categories: General

Self Evident Truths – A Personal Journey

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In keeping with the holiday spirit, I have decided to share a personal perspective today. Although I rarely write about my personal history, I believe today’s political climate in the United States makes this an imperative responsibility of all Americans. I promise in the coming days, I will go back to blogging about energy, lower, […]
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