Oil Price & Economic News
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Shell, PetroChina bid for Australian coal gas producer as Asia seeks energy resources
PetroChina joined with Royal Dutch Shell in a bid for Australian coal-seam gas producer Arrow Energy as Asian countries scramble for a stake in the vast energy resources at their doorstep in Australia.
The initial bid of A$3.3 billion (US$3 bil
Read moreA Bull Market Requires a Healthy Consumer Underneath
A year ago this week the stock market hit its nefarious 666 level on the S&P 500. Since that historic day, we have enjoyed a 68% appreciation in equities from their depressionary low. Not only has the bounce caused a chorus of perma-bulls to claim
Read moreThere Will be No Economic Recovery as the Era of Cheap Oil Comes to an End
When oil crossed $120 a barrel for the first time in M
Read moreChevron to Seek Shale Gas in Poland as Europe Focuses on Unconventional Reserves
Chevron has acquired exploration rights for four shale gas concessions in southeastern Poland, the U.S. oil giant said in a recent SEC filing, joining other international companies in the hunt for unconventional gas reserves in Europe in the hopes of d
Read moreLibya: The Energy Player Not to Be Dismissed
On September 1, 2009, Libya lavishly celebrated the 40 years in power of its leader Colonel Muammar Gaddafi. Once qualified as the mad dog of the Middle East by President Ronald Reagan, Gaddafi has demonstrated a sheer ability to make of his once paria
Read moreU.S. Jobs Data Propels Crude Oil Above $80 a Barrel
Oil Market Summary for 03/01/2010 to 03/05/2010.
Jobs data indicating that U.S. economic recovery might be picking up steam finally pushed crude oil futures decisively over the stubborn $80 a barrel threshold. Nymex’s benchmark West Texas
Read moreEU Offers $3.1 Billion for Energy Infrastructure Projects, Including Caspian Pipeline
The European Commission added to its economic stimulus program with the largest-ever package of grants to energy infrastructure, including support for the Nabucco pipeline project that will help Europe diversify its sources of natural gas.
The
Read moreWind Energy Stimulus Funds Benefiting Foreign Workers, Senators Charge
Four Democratic senators entered into the clean energy vs. jobs fray, charging that too much federal stimulus money for wind energy projects is going to foreign suppliers and creating jobs abroad instead of in the U.S.
The administration and th
Read moreIraqi Elections Likely To Fuel Ethnic Tensions, Further Delay Access To Kirkuk's Reserves
The elections in Iraq on March 7, 2010, are likely to serve as an important indicator of the prospects for a resolution of the long-running dispute over the administration of the ethnically mixed and resource-rich province of Kirkuk in the north of the
Read moreU.S. Governors Seek "Onramp" to Pipeline for Booming Bakken Shale Output
Governors of Montana and North Dakota met with TransCanada Corp. officials this week in an effort to convince the builder of a nearly 2,000-mile pipeline from Alberta to the Gulf Coast to tap into the burgeoning oil production from the Bakken Sha
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