(Reuters) – Oil prices looked set to close down this week following seven weeks of gains, as China’s economic woes eclipse signs of tight supply. The seven-week upswing in prices, galvanised by supply cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+), was the longest streak for both benchmarks this year. Brent …
China Jitters Set to Snap Oil’s 7-Week Winning Streak Read More »
Workers at Chevron’s Gorgon and Wheatstone liquefied natural gas (LNG) facilities in Australia will begin voting from Friday to decide if they want to strike due to disputes over wages and working conditions, a union alliance said. Australia’s labour regulator last week cleared the way for unions to conduct a “protected action ballot” that gives employees …
Workers to begin strike vote at Chevron’s LNG facilities in Australia Read More »
By Irina Slav More From Irina Slav “Every additional ton of GHG (greenhouse gas) emissions exacerbates plaintiffs’ injuries and risks locking in irreversible climate injuries.” The above is a quote, per the AP, from the ruling of District Judge Kathy Seeley in the Held vs Montana case, in which plaintiffs, all but one legal children, claimed …
Commentary: The Sunset of Reason – Irina Slav on Energy Read More »
U.S. natural gas futures rose in the run up to a federal report expected to show a smaller than usual storage build last week as hotter weather boosted cooling demand. Front-month gas futures for September delivery on the New York Mercantile Exchange were up 6.5 cents, or 2.5%, at $2.66 per million British thermal units …
US natural gas futures rise as traders brace for storage report Read More »
“Climate emergency” declaration = endless dictatorship By Alex Epstein Do Not Declare a “Climate Emergency” Rising CO2 levels are: Not dire: Humans are safer from climate than ever. Not temporary: They will rise for decades. Not in our control: We emit 1/7 of CO2—and falling. “Climate emergency” declaration = endless dictatorship As many leaders obsess …
Do Not Declare a “Climate Emergency” – Alex Epstein Read More »
CALGARY, Alberta, August 17, 2023 – Today marks the one-month countdown to the 24th World Petroleum Congress, taking place in Calgary, AB from September 17–21, 2023. The Canadian Organising Committee for the Congress (“OCAN”) is pleased to invite government leaders, decision makers and innovators from around the world for important conversations that will help define realistic and …
Production cuts announced by Saudi Arabia and its OPEC⁺ allies are expected to tighten the global petroleum market moderately over the remainder of 2023 and into the first quarter of 2024. Commercial inventories of crude oil and refined products in the OECD advanced economies were around 2,821 million barrels at the end of June, according …
Oil Market to Tighten Modestly in Late 2023: John Kemp Read More »
Last week, the Trudeau government dropped a regulatory sledgehammer on the four provinces that rely on fossil fuels (FF) to generate some of their electricity. Alberta (90 per cent FF), Saskatchewan (81 per cent FF), Nova Scotia (76 per cent FF), and New Brunswick (54 per cent FF) are in the crosshairs of Ottawa’s new Clean …
Reuters Strategic rivalry between China and the United States is intensifying and both governments now perceive a system-wide conflict embracing all elements of the economy and society. U.S. officials are keen to play down analogies between the intensifying strategic rivalry between China and the United States and the Cold War between the United States and …
China Calls for More Secrecy on Sensitive Energy Issues: John Kemp Read More »
Courtesy of Proactive Investors Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE In almost every newsletter we’ve written since August of last year, the Inflation Reduction Act (IRA) has made an appearance one way or another, speaking to its impact. The signing of the IRA was the shakeup equivalent of five bombshells walking …
The U.S. Inflation Reduction Act: A Lookback On a Big Year – ENERGYminute Read More »
