Bank of America: $50 A Barrel on Its Way
The US shale industry faces a Darwinian struggle over the next few months as only the fittest producers will survive as the price of crude plunges to $50 a barrel, the Bank of America has warned.
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2026
2026
Oil “Glut” Signals Trouble for Shale and Tar Sands
There has been a huge amount written over the last few days about the plummeting oil price. One British newspaper is warning of an “oil war” as the price of Brent crude “tanks” on the back of oversupply in the...
US “Not Immune” to Oil Price Hike
As war rages in Iraq, and oil and gasoline prices rise, the impotence of the US oil boom is exposed.
Scientific Evidence Against Fracking is Not “Irrational”
The British Prime Minister, David Cameron, yesterday dismissed critics of fracking as “irrational”, arguing that their opposition is based on a “religious” hostility to fossil fuels.
“We came within a hair’s breadth of a calamity”
And on it goes. One accident after another. But this time a major disaster was averted by a whisker. On Monday a freight train, which was carrying fracked and highly flammable shale oil from North Dakota, derailed on a bridge...
Toxic and Tax Exempt
Toxic and tax exempt: How tar sands spills from Michigan to Arkansas cost us all. As the Obama Administration continues to ponder a decision on the Keystone XL pipeline, TransCanada has been assuring everyone of it’s safety. “Safety of the...
Tar Sands: “No Safe Way to Market”
The top brass of BP and Shell will have not been amused this morning when they opened their Financial Times to see a half page advert staring at them about the ecological cost of the tar sands. The advert, entitled:...
Regulator Acts Against Oil Speculators
One of the political mantras of those old boys at the American Petroleum is that if the gas price is too high it means we have to drill for more oil. Plain and simple. Its good old fashioned economics: supply...
Big Trouble for Big Oil
Business Week has picked up on a growing conundrum for the oil industry. Even as oil prices soar, earnings at Exxon, BP, and ConocoPhillips are coming back down to earth. Are lower profits here to stay? Yesterday, ExxonMobil, the world's...
“The Answer to Oil Sands”
Interesting story from the Globe and Mail about new techniques being used to exploit Alberta’s oil sands which offer a “potential sea change in how Canadian companies wring energy from the ground.” Most companies have traditionally pumped steam into their...