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Predictions of a coming carbon asset bubble overstated

Lately, it has been fashionable to talk of “stranded carbon assets” that will emerge as a risk to investors as pressure to mount a serious global climate policy increases.  More »

Exxon predicts fossil fuels will reign supreme through 2040

Oil and gas will provide the bulk of the energy needed to fuel the world by 2040, with most of it coming from North America, Russia and the Middle East, Exxon Mobil predicted Thursday.  More »

Texas proposes to take over GHG permitting under Clean Air Act PSD program

Last week the TCEQ issued a proposed rule to allow it to regulate greenhouse gas sources under the Clean Air Act’s Prevention of Significant Deterioration Program.  No surprise here.  Texas business asked the state legislature to “authorize” the TCEQ to do this because it is more streamlined to have one permitting authority, and because of […]  More »

Exports of diesel, heating oil jump 30%

U.S. exports of diesel and other distillate fuels reached a monthly record in July as global demand for fuel grows, according to new federal data.  More »

Natural gas soars on wintry weather

Natural gas rose above $4.20 for the first time since May 28.  More »

Mexico Senate proposal: broadly open country’s oil sector to private firms

The proposal goes much further than the plan introduced by President Enrique Pena Nieto in August, which only allowed profit-sharing agreements but not arrangements for sharing oil.  More »

BP investors can’t sue as group over losses, judge says

BP ’s U.S. investors can’t pursue as a group claims that the company inflated its shares with misleading statements before and after the Gulf of Mexico oil spill, a judge ruled, citing a recent Supreme Court decision.  More »

The Pretense of Knowledge and Hubris, and Predictions of Dread

In accepting the Nobel Prize in economics, Frederich Hayek’s remarks dealt with the The Pretense of Knowledge. Those remarks included prescient observations about the consequences of actions that do not reflect the limits of knowledge. “If man is not to do more harm than good in his efforts to improve the social order, he will […]  More »

Baker Hughes cuts Brazil staff as Halliburton wins contracts

Baker Hughes, the world’s third largest oilfield services provider, is reducing its workforce in Brazil after losing contracts with Petroleo Brasileiro SA to competitor Halliburton Co., an oil union said.  More »

Oil rises on manufacturing numbers from U.S., China

Benchmark U.S. crude rose 1.2 percent to $93.82.  More »

Ex-BP engineer who deleted texts heads to trial

Nearly a year after energy giant BP cut a deal to a resolve a criminal investigation of its role in the nation’s worst offshore oil spill, a jury is set to hear the Justice Department’s case against a former company employee accused of trying to stymie the federal investigation.  More »

Airline joins battle over biofuels

A refinery owned by Delta Air Lines has joined the battle against a government mandate to blend renewables into fuel supplies.  More »
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