• 3 minutes CoV-19: China, WHO, myth vs fact
  • 6 minutes Trump reinvented tariffs and it worked
  • 9 minutes IEA Sees First Global Oil Demand Drop in a Decade on Coronavirus
  • 12 minutes Question: Why are oil futures so low through 2020?
  • 2 days "For the Public's Interest"
  • 31 mins Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 4 hours Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 19 hours Natural Gas from Cow Poop Used to Save the Environment and Help Farmers
  • 1 day Coronovairus, Phase One Agreement, Lower for Longer
  • 3 hours The New Class War Exposes the Oligarchs and Enablers
  • 4 hours Foxconn cancelled the reopening of their mfg plants scheduled for tomorrow. Rescheduled to March 3rd. . . . if they're lucky.
  • 14 hours Has Trump put the USA at the service of Israel?
  • 18 hours Is cheaper plastics feedstock on the horizon?
  • 1 day Weekly U.S. Imports of Crude Oil. No, the U.S. is NOT oil & gas self-sufficient.
  • 2 days Cheap natural gas is making it very hard to go green
  • 12 hours Solar Cells at 25 Cents Apiece (5 cents per watt)
Alt Text

Is The Permian Basin Getting Gassier?

In a recent report Rystad…

Alt Text

Is This The Tipping Point For Coal Production?

Despite the global pressure cut…

Alt Text

Real Energy Independence Is An Illusion

The illusion of energy independence…

James Stafford

James Stafford

James Stafford is the Editor of Oilprice.com

More Info

Premium Content

This Week in Energy: Texans Take on Big Oil

‘Crazy’ Texans take on big oil; Australia’s richest miner takes on his own industry; the EU imposes anti-dumping tariff on US ethanol; February pump prices hurt; and two West African venues take E&P center stage ….

We’re still waiting for the other shoe to drop in Texas, as Big Oil continues to bully landowners who have traditionally been their friends. This week, a Texas landowner who reported fracking pioneer Range Resources Corp. to the federal authorities for apparently poisoning his well has been sued in kind for conspiring to “harm” the company, while his lawyer has been characterized as “unhinged”.

While Texans fight the acquisition of their land by TransCanada for the Keystone XL pipeline, on the mining front, Australia’s richest man is taking on the state and the mining industry (of which he is a vital part) to stop the exploitation of uranium and sand mining on his half-a-million-acre ranch in the northwest outback.

Andrew Forrest is an Australian iron ore magnate and founder and executive chairman of Fortescue Metals Group Ltd., one of the mining industry’s biggest players.  Forrest knows the rules of the game well, and those rules stipulate that he only owns the top meter of land across his massive ranch. The rest, including the uranium under it, belongs to the people of Australia. You only get compensated for access. The case has also put him in an odd position within his own company: Fortescue Metals has also applied for mineral exploration rights on the ranch and Forrest has objected even though he is a majority shareholder. Forrest’s overall objection seems to stem from his close relationship with the Aboriginal peoples in the remote areas of the outback, who object to the mining plans that would affect their livelihoods and surroundings. 

Australia is a unique case in terms of land ownership. In the US—as well as in the United Kingdom and Canada—the laws of ownership are different: land owners can own the minerals deposits under the surface.

US bioethanol took a hit this week when the European Union imposed a 5-year tariff on US bioethanol imports with which German, French and British producers cannot compete. The EU accuses US exporters of selling below EU cost and thus dumping on the European market. The new tariff is $83.20 per metric ton. The EU already imposes anti-dumping tariffs on US biodiesel. The anti-dumping bioethanol tariff takes effect on 25 February. 

Provoking this anti-dumping tariff was the fact that three US producers in particular--Marquis Energy LLC, Patriot Renewable Fuels LLC and Platinum Ethanol LLC—had managed to significantly raise their share of the EU bioethanol market—from 1.9% in 2008 to 15.7% by the end of 2011, and counting.

This will be a key issue in upcoming free trade talks between the EU and US.

In Washington, congressional bean-counters were in a tither this week when they counted up the costs of a lucrative tax break used by pipeline companies. The phenomenon of master limited partnerships (MLPs) is growing out of control and will reportedly cost the government $7 billion through 2016. This is quadruple the original estimate and apparently no one predicted growth on this scale of tax-free publicly traded partnerships. The problem is that MLPs have already consumed the pipeline business and now they are eyeing other industry sectors. A tax overhaul is clearly in the works.

In the meantime, gas prices at the pump look set to rise even more by the end of this month, as global crude futures soar and refineries conduct their seasonal maintenance. So far, prices at the pump are up 14% this year. Brent crude on ICE Futures Europe exchange has increased $6.41 this year to $117.52 a barrel.

Today’s report is from the Inside Investor section of our Premium service and our expert trader Dan Dicker looks at three companies energy investors should be monitoring. These are rather time sensitive plays, but offer very good upside to investors.

Dan was recently interviewed on Bloomberg television talking about how Keystone will affect gas prices. It was a very interesting conversation and you can see the interview here.

This week, in our Premium Newsletter, subscribers can learn about two hot West African venues for oil and gas, as well as unique geopolitical insight into some Middle Eastern pipeline warfare that may see Israel pump gas to Turkey and pits Iran against Qatar in the race to the Syrian pipeline finish line.

I would like to mention that Oilprice.com Premium does more than just give you news and investing advice – it is a MUST read for people in the energy sector. You can receive news and information from the multitude of magazines out there currently serving the sector – but NONE of these publications can offer the level of intelligence and forecasting we are currently providing subscribers. Having spoken to current subscribers from the sector this is a service you need if you are going to compete effectively in the future.

You can try the research completely risk free for 30 days, which should give you enough time to discover the value in our unique analysis. Click here to begin your free trial.

One of our new subscribers has just sent this testimonial I thought you may be interested in seeing:

“Whether you are looking for investment information or on-the-ground current economic news, Oil & Energy Insider is a critical resource for your business and your portfolio. Some information costs you money, some information makes you money and keeps you ahead of your competition - Oil & Energy Insider is that resource. We highly recommend it.”
Terresa Monroe-Hamilton, NoisyRoom.net

By. James Stafford of Oilprice.com




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News