Read the latest insights and analysis from the experts at Oil Change International.
A report from the financial auditing firm Deloitte says the “reality is that the shale boom peaked without making money for the industry in aggregate. In fact, the US shale industry registered net negative free cash flows of $300 billion, impaired more than $450 billion of invested capital, and saw more than 190 bankruptcies since 2010.”
Whereas the oil majors are pulling back their shale operations, others though are looking to expand in US shale.
Later today, the Senate is set to vote on an unprecedented $2 trillion bi-partisan stimulus package that is designed to try and prop up a creaking American economy, which has been brought to a juddering halt by the Coronavirus.
A new expose published today reveals how BP, working closely with the British government, has been “side-stepping” sanctions introduced after the Russian annexation of Crimea.
Soon British consumers will be cooking and heating their homes with American fracked gas for the first time.
“The Trump Administration claims that it supports clean air and water, but its proposed FY 2018 Budget tells another story.”
As people head home for the Christmas vacation to be with their loved ones, spare a thought for the one thousand or so water protectors that are braving bitterly freezing cold temperatures and blizzards in North Dakota to continue what has become the iconic protest of 2016 against the Dakota Access Pipeline.
They are used to standing shoulder to shoulder in the face of adversity fighting for their country. But next weekend, hundreds of veterans will come together again, potentially for one last time. Their mission this time is not to fight for their Government. But against it.
The oil industry is a market built on the old market fundamentals of supply and demand and the flux between the two will impact how much we pay for our oil or gas.
New technologies like fracking––along with government subsidies––have ushered in an energy boom reliant on extreme extraction methods to produce oil and natural gas. Now the Uinta Basin is ground zero for what threatens to become the next phase in extreme energy extraction: strip mining for tar sands and oil shale.
