Category: Crude oil

Texas production could double by 2020, industry regulator says

Drawing on booming resource plays that haven’t shown signs of slowing, Texas’ crude oil production could hit 4 million barrels per day by 2020, a top state industry regulator said Thursday.  More »

Hamm: Hope dwindling for Keystone XL pipeline

The Bloomberg Oil & Gas Conference is drawing some of the biggest names in energy to speak Thursday at the Houston Museum of Natural Science. Here are some of their best predictions and comments from the event.  More »

Oil prices above $102 on Senate debt deal

Benchmark crude for November delivery gained $1.08, or 1.1 percent, to close at $102.29 a barrel on the New York Mercantile Exchange.  More »

Leon Panetta: Time to stop governing by crisis on energy policy

Oil supply disruptions and other emergencies involving crude have long driven U.S. energy policy, but it’s time to break that cycle, former Defense Secretary Leon Panetta insisted Wednesday.  More »

Booming oil towns prepare for inevitable bust

The surge in oil drilling has drawn money and men like a magnet to run-down communities that haven’t seen a boom since the 1980s. But leaders and residents here are increasingly mindful that the runaway riches tapped by hydraulic fracturing will eventually run out.  More »

Oil falls toward $101 as debt deal awaited

Benchmark crude for November delivery fell $1.20 to close at $101.21 a barrel on the New York Mercantile Exchange.  More »

Military and business leaders urge US to end oil’s fuel monopoly

In a report issued Tuesday, former U.S. military leaders, cabinet secretaries and business leaders recommend ways the United States can pare America’s vulnerability to oil price hikes, by giving alternatives a chance to compete with gasoline and ending “oil’s virtual monopoly as a transportation fuel.”  More »

Saudi Aramco plans ‘massive’ spending to extend field life

Saudi Arabia, the world’s largest crude exporter, is making “massive investments” as it seeks a production buffer to guard against swings in global oil prices while addressing a decline in output from its older fields.  More »

From RINs to Supply to Demand to Seasonality…Why Gasoline is Heading Lower

Let’s end at the beginning: retail gasoline prices are going to continue to head lower, and this post simply presents the case as to why, through some simple visuals.  But before we do that, here are some reasons as to why that downside could be more limited than it otherwise should be: –Stubbornly high input […]  More »

Report: US oil growth having limited effect on energy security

The United States may soon claim the throne as the world’s top crude and gas producer, but America’s dependence on oil leaves the nation at risk, according to a global energy security assessment issued Monday.  More »

BHP Billiton’s former oil CEO Yeager joins Maverick Drilling

J. Michael Yeager, the former head of BHP Billiton Ltd. (BHP)’s oil and gas division, was named chief executive officer of Maverick Drilling & Exploration Ltd., an explorer that’s listed in Australia and focused on the U.S.  More »

Oil rises on hopes for debt deal

The price of oil “continues to gyrate around speculation and rumor regarding the shutdown of the U.S. government.”  More »