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Breaking News:

EU to Ban Re-Export of Russian LNG

New Mexico Struggles To Balance Oil Output Boom with Climate Goals

New Mexico Struggles To Balance Oil Output Boom with Climate Goals

The second-largest oil-producing U.S. state,…

Is OPEC Too Bullish On China's Oil Demand?

Is OPEC Too Bullish On China's Oil Demand?

China's oil demand growth is…

Energy / Crude Oil

After Being Offline Since 2011, South Sudan Oil to Flow Again

Nov 19, 2012 at 12:29 | John Daly

On 14 November, South Sudan President Salva Kiir declared during a meeting he held in Juba with visiting Kenyan deputy Prime Minister Uhuru Kenyatta that his country's oil production will…

How Will Oil Production Impact the Economy Over the Coming Decade

Nov 19, 2012 at 11:49 | Post Carbon

A paper published recently by the IMF gives us some insight into how oil prices and availability might affect the global economy in the next decade. The paper, entitled Oil…

"Weak Demand" Does Little to Deter Keystone XL Support

Nov 16, 2012 at 17:47 | Daniel J. Graeber

The American Petroleum Institute reported that October demand for petroleum products was at its lowest level for any October in 17 years. John Felmy, the group's chief economist, said demand…

IEA Manipulates Stats to Predict Unrealistically High Oil Forecasts

Nov 15, 2012 at 17:34 | Gail Tverberg

The International Energy Agency (IEA) provides unrealistically high oil forecasts in its new 2012 World Energy Outlook (WEO). It claims, among other things, that the United States will become…

PR at its Worst: IEA Spins Oil Stats to Make US Top 'Oil' Producer

Nov 14, 2012 at 17:43 | Charles Kennedy

I’ve said it before, but it needs to be said again: The US is not overtaking Saudi Arabia as the world’s largest producer of oil. Here’s what everyone needs to…

Big Oil Cries Foul Over Anti-corruption Efforts

Nov 14, 2012 at 17:40 | Daniel J. Graeber

A U.S. financial regulator dismissed a challenge from groups advocating on behalf of the petroleum industry who said transparency rules regarding payments made to foreign governments put them at a…

IMF: Do we Have a Peak Oil Problem?

Nov 12, 2012 at 16:58 | Kurt Cobb

Does the International Monetary Fund (IMF) believe we have a peak oil problem? The precise answer is that the IMF is currently studying how constraints in world oil…

Oil is too Precious to be Used as Transportation Fuel

Nov 09, 2012 at 17:44 | Kurt Cobb

An oil executive once observed that burning oil for energy is like burning Picassos for heat. Oil is extraordinarily valuable as the basis for so many products…

Nigeria, Africa's Leading Petro-State, Quelling Islamic Insurgency?

Nov 06, 2012 at 17:41 | John Daly

Nigeria is Africa’s leading petro-state, currently exporting just over two millions barrels per day (bpd).But the massive corruption associated with the overwhelming influx of oil revenues has produced…

Putin Plays Down Russia's Deadly Dependence on Oil & Gas Revenues

Oct 30, 2012 at 18:33 | Al Fin

How dependent on oil & gas revenues is Russia's federal budget? Vladimir Putin recently claimed that his government is only 50% dependent on oil & gas revenues:President Vladimir…

The US is Not Even Close to Being the Next Saudi Arabia

Oct 29, 2012 at 17:38 | Dave Summers

There has been a little stir in the news on Energy lately, as folks have begun to extrapolate the growth in American oil and gas production to the point that…

Putin Strengthens his Grip on World Energy with TNK-BP Deal

Oct 26, 2012 at 17:54 | Marin Katusa

Exxon Mobil is no longer the world's number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp – oh, whoops. I mean the title belongs to Rosneft,…

Why Shale Oil Will Never be a Game Changer

Oct 26, 2012 at 17:50 | The Oil Drum

The impact of unconventional fuels like shale oil on the global energy system is still an issue of great uncertainty. Not so much because of the size of the tank…

Why the US is NOT the New Saudi Arabia

Oct 25, 2012 at 18:17 | Dave Cohen

Here we go again, another ‘Planet Stupid’ update. All posts like this one have a predictable structure. Some egregious baloney is put out by a propaganda organization like Reuters, the…

US to Overtake Saudi Arabia? Skewing the Oil Stats

Oct 25, 2012 at 17:46 | Charles Kennedy

The headline-sweeping news led by the Associated Press this week to the effect that the US is poised to overtake Saudi Arabia as the world’s largest producer of oil buries…

Peak Oil and the Challenging Years Ahead

Oct 25, 2012 at 17:34 | Gail Tverberg

We seem to hear two versions of the story of limited oil supply:1. The economists’ view, saying that the issue is a simple problem of supply and demand.…

Can Russia Afford to Cut Itself off from Western Oil Companies?

Oct 24, 2012 at 17:12 | Al Fin

“For foreign oil companies seeking to expand production and reserves, Russia is now off limits,” Robbert Van Batenburg, head of research at Louis Capital Markets LP in New York, said…

Oil Still Calling the Cards in Mideast

Oct 23, 2012 at 17:49 | Claude Salhani

The battle for control of the Middle East, part of which is being fought today in Syria, and that this past weekend many fear has spread to engulf neighboring Lebanon,…

The Economic Benefits of Reducing Oil Imports

Oct 22, 2012 at 17:41 | James Hamilton

On Wednesday I noted that encouraging more U.S. oil production was unlikely to result in a significant drop in U.S. retail gasoline prices. Nevertheless, I believe that there would…

Could Social Upheaval in Iran Spark an Oil Bull Market?

Oct 18, 2012 at 17:57 | Marin Katusa

In the third century, greed got the best of Rome's emperors. As they spent through the silver in the treasury, one emperor after another reduced the amount of precious metal…

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