• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 2 hours UK, Stay in EU, Says Tusk
  • 6 hours Socialists want to exorcise the O&G demon by 2030
  • 28 mins How Is Greenland Dealing With Climate Change?
  • 2 hours Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 4 hours Venezuela continues to sink in misery
  • 42 mins German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 3 hours WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 24 hours Regular Gas dropped to $2.21 per gallon today
  • 1 day China Car Sales Plummet: Can Musk Unshovel His Groundbreaking?
  • 1 day BofA Sees Oil at $35-70
  • 4 hours Trump inclined to declare national emergency if talks continue to stall - Twitter hides this as "sensitive material"
  • 9 hours Orphan Wells
  • 10 hours Solid-State Batteries
Editorial Dept

Editorial Dept

More Info

Trending Discussions

Weekly World Energy News Update - 8th September 2012

The front line in energy politics shifted noticeably this week, closing in on the Republicans as the Democrats solidified their confidence that American voters see the value in the Obama administration’s energy policy. The prevailing theory among Democrats is that Romney was instrumental in helping the Obama campaign when he made a stark shift to the right on climate issues, while Obama has proven his competency in energy and managed to trip his rival and other incumbents, from Ford to Bush. The Obama administration can also benefit from the fact that for 2012 the US has imported less oil than at any time in a decade and a half.

Also in the US, the shortage of pipelines to keep pace with the Bakken boom is resulting in major developments in the railway sector, with a BNSF Railway announcing this week that it would expand its rail network in the Great Plains with $197 million investments which would allow for the transport of 1 million barrels of crude oil per day from the region.  As of this year, according to BNSF, the company’s rail delivery in the region has increased to 88 million barrels, up from 1.3 billion in 2008.

Good news for oil delivery capacity, but bad news for ethanol futures, which fell to an eight-week low in Chicago amid indications of sufficient supply and increased imports. Supplies are at around 18.5 million barrels, with imports averaging around 16,000 barrels per day in 2012, according to Bloomberg.

Oilprice.com is always keen to follow the latest technological breakthroughs, and here’s one we found interesting this week. Sumitomo Electric Industries Ltd has announced what it calls a breakthrough that could make it the market leader in wire harnesses for cars. The Japanese auto parts maker has unveiled an aluminum-based harness that it claims is strong enough to be used in the engine area but substantially lighter than the copper wiring traditionally used. The aluminum-based products, which can be used throughout a vehicle, are lighter (by about 20%), and importantly, cheaper. This is also an important development for US carmakers who will have to adhere to the new CAFÉ requirements on fuel efficiency.

The big news this week on the European energy front is the European Union’s probe of Russian gas giant Gazprom, which follows on a raid this time last year of its European offices. The EU accuses Gazprom of unfair competition in the form of throwing up obstacles to European gas diversification and fixing gas prices to oil prices, which essentially means that European customers cannot benefit from the natural gas boom in the US, which has boosted supplies and reduced open-market prices.

Q3 Energy market review & 4th Qtr Forecast – we have just sent out our detailed market review to our free subscribers. The report is written by Dan Dicker – one of the most successful energy traders in the world. To read the report for Free please click here

By. Oilprice.com Analysts




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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