Read the latest insights and analysis from the experts at Oil Change International.
Just how low can the oil price go? What was unthinkable even a few months ago is now becoming distinctly probable, even likely. As analysts dissect the ramifications for the oil industry of $40 dollar barrel, oil traders are now thinking that the price of crude will halve that to a staggering $20 a barrel. Prices have not been that low for twenty years.
It is a majestic world heritage site located on the west coast of Newfoundland, which is seen as one of the jewels in Canada’s crown. But it could be under threat from the controversial technique of fracking in the future.
Later today the Senate floor is expected to vote on the controversial Keystone XL pipeline, although currently Senators do not have enough votes to override Obama’s promised presidential veto on the issue.
As the political squabbling over Keystone XL continues to dominate the political landscape in Washington, yesterday the Senate energy committee voted 13-9 in favour of a bill that would force construction of the controversial pipeline.
2015 is already bringing new challenges — including a congress that’s set on ignoring climate science and fighting for the fossil fuel industry instead of the American people.
If you had Googled “fossil fuels” and “stranded assets” a few years ago, you would have probably got no hits. But how times change.
The new year has started just like the old one ended, with the oil price continuing its downward slide. This morning oil dropped to five and a half year low as over supply continued to spook the markets.
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.
