Tag Archives: barrels
With the most recent release of international oil production data, EIA Washington has revised figures back to 1985. This is one of the most comprehensive revisions I have seen in several years. Generally, the totals were revised slightly lower, and this was especially true for the past decade. Data for the full year of 2011 [...]
Natural gas producers are searching for options to increase their revenues as gas prices in the United States have sunk to levels not seen in more than 10 years. As this year’s mild winter continues, gas storage is brimming with inventories that are 42% higher than a year ago and 38% above average. Although producers [...]
The world’s major central banks — including the Bank of Japan (BOJ), the European Central Bank (ECB), and the Federal Reserve — appear to have finally won a major battle in the deflationary war that broke out five years ago in 2007. While the ultimate victor is yet to be determined, it now seems likely [...]
A delegation from the International Energy Agency spent two days in Baghdad speaking with high-ranking officials in preparation for an end-of-year report on the country’s oil sector. By some estimates, Iraq could hold some of the largest oil reserves in the world and an international auction for oil and natural gas blocks is planned for [...]
With oil prices remaining stubbornly above the $100 per barrel mark for WTIC, calls for $6 gas in the U.S. as a consequence of an attack on Iran may turn out to be a rather conservative, maybe even a low-ball estimate. According to Bloomberg, the average price paid at the pump has recently jumped above [...]
As oil prices soar, the exploration of alternative fuel sources continues. Primus Green Energy, based in Hillsborough, New Jersey, has created a high quality, 93-octane bio-gasoline at a price that will be both competitive and profitable once production is scaled up. According to Dr. George Boyajian, Primus Green Energy’s VP of Business Development, the company [...]
In the Spring of 2011, when Libyan oil production — over 1 million barrels a day (mpd) — was suddenly taken offline, the world received its first real-time test of the global pricing system for oil since the crash lows of 2009. Oil prices, already at the $85 level for WTIC, bolted above $100, and [...]
Last week, OpenEI focused on the issues related to fracking. We showed both the potential gains and pitfalls of continued fracking policy in the United States. Another hot issue in the United States and internationally are oil sands, or tar sands. The epicenter of this issue resides in Alberta, Canada, in the Athabasca river basin. [...]
“Our children will enjoy in their homes electrical energy too cheap to meter,” predicted Lewis Strauss, Chair of the US Atomic Energy Commission in 1954. The fusion power that inspired his comment remains only experimental to this day, and the best guess is that commercial fusion generation facilities will not be online before 2050. An [...]
I read an article this morning that highlighted some data released by BP and Exxon that suggests electric cars will only make up between 4 to 5 percent of the global market in 20 to 30 years. Now I wonder how BP and Exxon came up with this data? (Insert sarcastic tone here) Of course, [...]
Fracking has been a hot topic in the United Statesin recent years, but did you know that the concept of fracking has actually been around for several decades? Read on to find out all you need to know about fracking. Hydraulic fractures form naturally in rock layers, caused by the presence of high-pressure fluids that [...]
Since 2005, European oil consumption has fallen by 1.5 million barrels a day. And, in the same period, US oil consumption has fallen by 2 million barrels a day. If oil was priced at $60 a barrel, rather than $100 a barrel, then a fair portion of that lost demand might return. Instead, since 2005, [...]
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