Weekly Climate and Energy News Roundup #403

The Week That Was: March 21, 2020, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project (SEPP)

Quote of the Week: “There must be no barriers to freedom of inquiry… There is no place for dogma in science… And we know that as long as men are free to ask what they must, free to say what they think, free to think what they will, freedom can never be lost, and science can never regress.” – J. Robert Oppenheimer [H/t Paul Redfern]

Number of the Week: 365.2422 days.

Fiasco in the Making? Writing in Stat, epidemiologist John Ioannidis of Stanford University emphasizes the need for solid data to address the coronavirus disease, Covid-19. Ioannidis is co-director of Stanford’s Meta-Research Innovation Center, which is dedicated to improving the quality of scientific studies in biomedicine. He writes:

Continue reading

US Responds to Oil Price Crash by Topping Off the Tank

By David Middleton – Re-Blogged From WUWT
Trump says U.S. to buy oil to fill up the Strategic Petroleum Reserve
By Myra P. Saefong

President Donald Trump announced Friday that the U.S. will buy large quantities of oil to fill the country’s Strategic Petroleum Reserve. “We’re gonna fill it up. It’s a good time to fill it up,” Trump said at a press conference, during which he declared a national emergency to access additional aid to cope with the spread of COVID-19. As of March 6, the SPR held a total of 635 million barrels of crude oil. Its current storage capacity is 713.5 million barrels.

[…]

Market Watch

Continue reading

Weekly Climate and Energy News Roundup #402

The Week That Was: March 7 / 14, 2020, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week: “Aqueous vapor is a blanket, more necessary to the vegetable life of England than clothing is to man. Remove for a single summer-night the aqueous vapor from the air which overspreads this country, and you would assuredly destroy every plant capable of being destroyed by a freezing temperature. The warmth of our fields and gardens would pour itself unrequited into space, and the sun would rise upon an island held fast in the iron grip of frost.” – John Tyndall (Heat: A Mode of Motion, 1861) [H/t William Happer]

Number of the Week: 15,000 parts per million (ppm) v. 400 ppm

Freeman Dyson: When mathematician, physicist, and philosopher Freeman Dyson died on February 28, the world lost an exceptionally brilliant humanist. Writing in the Quadrant, Australian Tony Thomas based his comments, in part, on an extensive interview by philosopher Arnis Rītups in the Latvian Journal Rigas Laiks. The interview gives an indication of the depth and extensive interests of Dyson. It is appropriately subtitled:

“Somehow the universe has a tendency to be as interesting as possible, more and more diverse, more and more interesting.”

Continue reading

Covid-19 and Russia Collusion to Kill Shale!

By David Middleton – Re-Blogged From WUWT

As the Democrat-media-fueled Covid-19 panic continues to batter the global economy, Russia thinks they see an opportunity to kill the evil capitalist “shale” players…

Russia Yanks A Leg From U.S. Shale’s Three-Legged Stool

David Blackmon Contributor, Energy

For the last two-plus years, the U.S. shale industry has been able to continue its oil boom thanks to the existence of a figurative 3-legged stool of support. Those three legs have been easily identifiable:

*The ability to legally export crude oil to other countries;
*An ongoing license to build pipelines and conduct fracking operations; and
*The continuation of the OPEC+ deal limiting exports by other oil producing nations.

Continue reading

Weekly Climate and Energy News Roundup #341

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “On what principle is it that with nothing but improvement behind us, we are to expect nothing but deterioration before us?” – Lord Macaulay, [H/t Matt Ridley]

Number of the Week: Up to a 50% increase in efficiency?On to Chile: Some seem to be disappointed with the outcome of the 24th Conference of Parties (COP-24) of the United Nations Framework Convention on Climate Change (UNFCCC) in Katowice, Poland, in a coal mining district. Rather than adopting hard, fast rules for the implementation of the Paris Agreement, the delegates adopted vague generalities and promised to do more. Reading through the “bureaucratic speak,” of the concluding remarks by the UN Secretary General, António Guterres, read by Patricia Espinosa, Executive Secretary of the UNFCCC, the stated goals were not accomplished. The Secretary General wrote:

“I’d first like to thank the Presidency of the COP for the enormous efforts it deployed to organize this 24th session in Katowice, Poland.

Continue reading

US Just Became Net Oil Exporter for First Time in 75 Years

By Bloomberg – Re-Blogged From Newsmax

America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what U.S. President Donald Trump has branded as ‘energy independence.’

The shift to net exports is the dramatic result of an unprecedented boom in American oil production, with thousands of wells pumping from the Permian region of Texas and New Mexico to the Bakken in North Dakota to the Marcellus in Pennsylvania.

While the country has been heading in that direction for years, this week’s dramatic shift came as data showed a sharp drop in imports and a jump in exports to a record high. Given the volatility in weekly data, the U.S. will likely remain a small net importer most of the time.

“Weekly Climate and Energy News Roundup #338

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “There is a principle which is a bar against all information, which is proof against all arguments and which cannot fail to keep a man in everlasting ignorance – that principle is contempt prior to investigation.”— Herbert Spencer [H/t William Readdy]

Number of the Week: 42 Billion barrels

Old Science v. New “Evidence Free Science”: SEPP Chairman emeritus Fred Singer is “old school.” He does not make predictions until the facts are gathered, the evidence. Perhaps it was because he began his long professional career by using high altitude rockets to gather evidence about the atmosphere including measuring the energy spectrum of primary cosmic rays; the distribution of stratospheric ozone; the equatorial electrojet current flowing in the ionosphere and publishing the first studies on subatomic particles trapped in the Earth’s magnetic field: radiation belts, later discovered by James Van Allen.

Continue reading

Weekly Climate and Energy News Roundup #336

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.” ― John Stuart Mill [H/t Matt Ridley]

Number of the Week: $1,096/MWh – An increase of 22 times

USGCRP Prophecies: On November 23, the US Global Change Research Program (USGCRP) released the second volume of its two-part series on human caused global warming. The first volume. the “Climate Science Special Report (CSSR)” supposedly discussed the physical science but was largely confined to projections from poorly tested global climate models and physical events unrelated to increasing carbon dioxide. The current release came in time for the upcoming 24th Conference of Parties (COP-24) of the UN Framework Convention on Climate Change (UNFCCC) in Katowice Poland. According to official announcements, this conference will additionally include “the 14th session of the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol (CMP) and the third part of the first session of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA 1-3)” – international bureaucratic science at its best.

Continue reading

Texas Oil Surge Threatens OPEC

By Bloomberg – Re-Blogged From Newsmax

The map lays out OPEC’s nightmare in graphic form.

An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30 a barrel.

OPEC’s bad dream only deepens next year, when Permian producers expect to iron out distribution snags that will add three pipelines and as much as 2 million barrels of oil a day.

Continue reading

OPEC, Allies Struggle to Fully Deliver Pledged Oil Output Boost

By Thomson Reuters – Re-Blogged From Newsmax

OPEC is struggling to add barrels to the market after agreeing in June to increase output, an internal document seen by Reuters showed, as an increase in Saudi Arabia was offset by declines in Iran, Venezuela and Angola.

The Organization of the Petroleum Exporting Countries and allies agreed in June to boost supply as U.S. President Donald Trump urged producers to offset losses caused by sanctions on Iran and to dampen rising prices.

opec in capital blue letters ato four black barrels on white background

US Set to Become World’s Top Oil Producer

Re-Blogged From Newsmax

The U.S. government sees oil production further climbing next year even amid transportation logjams in the country’s most prolific shale play.

The Energy Information Administration sees U.S. crude output averaging 11.8 million barrels a day in 2019, up from its 11.76 million barrel a day estimate in the June outlook.

Continue reading

Weekly Climate and Energy News Roundup #304

By Ken Haapala, President, Science and Environmental Policy Project

Brought to You by www.SEPP.org

Sea Level Hockey Stick? Judith Curry continues her excellent analysis of sea level rise and the need to assure against false conclusions. Unfortunately, too many “experts” have drawn conclusions from preliminary data even before errors in measurement and calculations were fully resolved. As with early calculations of temperatures from satellite data, early errors in the measurement and calculations lead to skepticism for the entire method of measurements. For science to advance, one must recognize that errors, though not desirable, must be expected, then corrected. For satellite temperature data, minor changes in orbits were not originally recognized, but when recognized, calculations were changed accordingly.

Continue reading

Resurgent US Oil Industry

By Rick Mills – Re-Blogged From http://www.Silver-Phoenix500.com

Crude oil prices dropped from $110 a barrel in the summer of 2014 to about $30 in January 2016. The effect on oil producers and oil-producing countries was dramatic. The Russian ruble plunged, and the Canadian dollar slipped to below 70 cents US for the first time since 2003, kicking the country into recession and snuffing out the oil boom in Alberta. Many foreign companies operating in the high-cost Canadian oil sands pulled up stakes.

Continue reading

OPEC’s Existential Sucker Punch

By Julian Lee – Re-Blogged From http://www.Bloomberg.com

You wait decades for an existential crisis, then two come along at once. At least that’s how it must feel for OPEC’s beleaguered ministers. In the short term the market for their oil is being eroded by rising production outside their control. Looking further ahead, oil demand itself is under threat from the electrification of road transport. OPEC may not yet be dead, but its days are surely numbered.

The most obvious short-term threat to the group comes from the rapid rise in U.S. shale oil, but the risks have expanded to include other areas like Brazil’s prolific sub-salt discoveries and more recent finds further north along the east coast of South America.

Continue reading

Are More Bankruptcies Next for US Shale Oil Drillers?

By Irina Slav – Re-Blogged From Wolf Street

Something that’s been whispered about in the last few months is now being talked about loudly: U.S. oil drillers’ debts. There have been a few notable warnings that shale boomers might want to slow down their production boost lest they bring on another price crash, but the truth seems to be that they can’t do it: they have debts to service.

Now that international oil prices are once again on a downward spiral, drillers are facing a new challenge, according to Bloomberg: their bondholders are no longer optimistic.

Shareholders were the first to start doubting the recovery as it became increasingly evident that OPEC’s production cut agreement is failing to have the effect that everyone—or almost everyone—expected. Energy stocks have generally been on a slide since the start of the year.

Continue reading

Rebuttal to Environmentalists’ Claims That “Arctic Drilling Revenue Predictions Are ‘Way Off’”

By David Middleton – Re-Blogged From http://www.WattsUpWithThat.com

Why would anyone care what “environmentalists” have to say about potential Arctic oil revenue?  I only care because their “reasoning” is both fun and easy to ridicule.

Environmentalists Say Arctic Drilling Revenue Predictions ‘Way Off’

IULIA GHEORGHIU | JUNE 19, 2017

Conservation advocates believe opening up the Arctic National Wildlife Refuge, America’s largest swath of wilderness, isn’t likely to be the boon to federal coffers that President Donald Trump expects.

Opening up the wilderness region is a perennial issue; bipartisan bills are introduced each Congress to definitively label the area as “wilderness” while industry groups seek to gain access to a section of land that had been designated for oil and gas exploration. Plans have existed since 1980 to use less than 3 percent of the more than 19 million acres of wilderness refuge for oil and gas exploration — but conservation groups argue even that amount is too much.

Continue reading

Saudi Strikes Back Against U.S. Shale

By Jody Chudley – Re-Blogged From The Daily Reckoning

Here we go again…

The price of oil is plunging.

For the first quarter of 2017 West Texas Intermediate (WTI) held a pretty stable range between $54–58 per barrel. Now it is back to the roller coaster that we have been on since mid-2014.

As I write this, WTI is struggling to hold $43 per barrel and is sinking like a rock.

Oil prices are falling fast

Continue reading

PetroDollar System In Trouble As Saudi Arabia Continues To Liquidate Foreign Exchange Reserves

By SRSrocco – Re-Blogged From http://www.Silver-Phoenix500.com

The U.S. PetroDollar system is in serious trouble as the Middle East’s largest oil producer continues to suffer as the low oil price devastates its financial bottom line.  Saudi Arabia, the key player in the PetroDollar system, continues to liquidate its foreign exchange reserves as the current price of oil is not covering the cost to produce oil as well as finance its national budget.

The PetroDollar system was started in the early 1970’s, after Nixon dropped the Gold-Dollar peg, by exchanging Saudi Oil for U.S. Dollars.  The agreement was for the Saudi’s only to take U.S. Dollars for their oil and reinvest the surpluses in U.S. Treasuries.  Thus, this allowed the U.S. Empire to continue for another 46 years, as it ran up its ENERGY CREDIT CARD. 

Continue reading

Understanding the Real Threat to Oil Production in the Middle East

Re-Blogged From Stratfor

The last three weeks have brought the world’s biggest oil-producing region back into the headlines. From a crisis in the Gulf Cooperation Council (GCC) to the political aftermath of a terrorist attack in Tehran, recent developments have renewed concerns that turmoil in the Middle East could cause havoc in the international oil market. Despite the heightened commotion, however, these concerns are misplaced. More than regional tension, the Islamic State’s activity in southern Iraq — and perhaps southern Iran — presents a serious threat to energy production.

Continue reading

OPEC Proving Cartels Always Fail

By Andrew Hoffman – Re-Blogged From Miles Franklin

In Wednesday’s “historic market manipulation setting the stage for catastrophe,” my principal inference was that, per the time old adage, crime never pays.  Perhaps in the short-term; but the longer a scam is perpetrated, the more vulnerable it becomes to its inevitable demise.  Kind of like Fargo, when the initial plan to ransom Jerry’s wife morphed into a heinous killing spree, resulting in essentially all participating parties dying; as crime, like market manipulation, has significant unintended consequences, which must inevitably be addressed.

Such as, the fact that the historic money printing perpetrated on the world’s 99% by the “1%” bankers has resulted in an unprecedented debt edifice that, to paraphrase JP Morgan yesterday, can NEVER be repaid.  Not to mention, the equally unprecedented oversupply, of everything from commodities, to factories, to government itself – which can only be “repaid” by vast retrenchment, via the historic Depression that shortly, will envelop the entire world.  And oh yeah, the “dotcom valuations in a Great Depression Era” said “historic market manipulations” have created – which must eventually reverse; likely, violently so.  Perhaps one of the increasingly likely “black swan” events will be, as Jim Rickards puts it, the “snowflake that starts the avalanche.”  Or perhaps, history’s largest asset bubbles – and conversely, Precious Metals “anti-bubbles” – will simply collapse under their own sheer weight.

Continue reading

OPEC ‘No Longer in Control’ of Oil Prices

By Matt Egan – Re-Blogged From http://money.cnn.com

For decades, OPEC’s sway on oil prices was unparalleled.

But the cartel’s immense influence has been dealt a huge blow by the dramatic boom in US shale.

“Saudi Arabia and OPEC are no longer in control,” Douglas Rachlin, managing director at Neuberger Berman’s Rachlin Group, said on Wednesday at the SALT Conference in Las Vegas.

The emergence of US shale as a key global player that can pump even during low oil prices means OPEC can no longer “manipulate prices,” Rachlin said. “The shale revolution has changed a lot of things.”

Continue reading

2017…The Year Of Monetary Revolution

By Andrew Hoffmann – Re-Blogged From http://www.Silver-Phoenix500.com

In the past month, I’ve espoused many beliefs of what 2017 will bring – deeming it to likely be a year of money printing and draconian government actions.  In fact, following an historic year of political, economic, and monetary change, the best possible description for what I anticipate in the next 12 months, is “monetary revolution.”  Which, in turn, may catalyze the most dramatic status quo changes of our lifetimes, for anyone born in the post-War era.

Never before has the world faced a man-made calamity of such enormity; partly because of policy – particularly the monetary type; but predominantly, procreation – as let’s face it, there is no way to economically manage 7.4 billion people, without the scourges of socialism, fascism, and communism forcing their way into the fold.  I mean, when the gold standard was abandoned in 1971, the global population was just 3.5 billion, so we have more than doubled the population in less than five decades.

Continue reading

Weekly Climate and Energy News Roundup #252

The Week That Was – Dec 16, 2016 – Brought to You by www.SEPP.org

By Ken Haapala, President Science and Environmental Policy Project

Data Manipulation: As twice-elected president of a science society formed in 1871, with early members important to the beginning of climate measurements covering the US, this author has been very concerned with the manipulation of historic data that seems to have taken place over the past few decades. In effect, a warming trend seems to have been established in the data where one did not exist before. As we saw during Climategate, the Climatic Research Unit at the University of East Anglia “lost” historic data when data was mathematically adjusted.

Similarly, as researchers Joe D’Aleo and Tony Heller have demonstrated, the data entrusted to NOAA; and its subordinate organizations the US Historical Climatology Network (USHCN), the Global Historical Climatology Network (GHCN), and the National Climatic Data Center (NCDC); seem to have been manipulated to give the illusion of a warming trend by lowering the earlier data. Now, Paul Homewood, of the UK, points out that NASA’s Goddard Institute of Space Studies (NASA-GISS) has changed its own data since 2011 without notification as to why. The adjustments to its December 2016 version give the illusion of a stronger warming trend than existed in their 2011 data.

Continue reading

On December 14th Whirlybird Janet Will Be In A Very, Very “Hot Seat”

By Andrew Hoffman – Re-Blogged From http://www.Gold-Eagle.com

It’s Friday night, after another week of financial market ignominy has passed; fortunately, without further damage to those holding REAL money. Which fortunately, is likely to be extremely limited going forward, given how low Precious Metal “valuations” have been driven, amidst the most bullish fundamental environment imaginable. Heck, whilst the paper gold price has been mercilessly attacked – as countless fiat currencies crash, amidst an environment of unprecedented economic and political instability – physical demand has exploded.

To wit, physical gold is trading around $1,700/oz in India; whilst Chinese physical premiums have surged to their highest level since April 2013’s “Alternative Currencies Destruction” raid; which, I might add, caused May 2013 to be Miles Franklin’s best ever month. To that end, yesterday was the single strongest day of Shanghai Exchange physical gold offtake all year; and November, the year’s strongest month for U.S. Mint gold Eagle sales – surpassing…drum roll please…October, which saw a dramatic demand surge following the Cartel’s blatant October 4th attack, just after China’s markets closed for the “Golden Week” holiday.

Continue reading

Did OPEC Just Cry Uncle?

By Frank Holmes – Re-Blogged From http://www.Gold-Eagle.com

OPEC Decision Helps Oil Post Its Second Straight Month of Gains

You’ve probably heard by now that, in an effort to lift oil prices, the Organization of Petroleum Exporting Countries (OPEC) tentatively agreed to a production cut at its meeting in Algiers last week. The cartel, which controls more than a third of world output, plans to limit daily production to between 32.5 million barrels and 33 million barrels, down from 33.2 million barrels.

This comes more than two years since oil prices were kneecapped, wreaking havoc on several OPEC member nations’ economies. Saudi Arabia currently faces a steep budget deficit, as oil revenues make up close to 90 percent of the country’s budget. Meanwhile, Venezuela’s currency, the bolivar, has become so worthless that it’s now cheaper to use it as a napkin than to buy actual napkins. Airlines flying to the U.S. won’t even accept bolivars. (Of course, this has more to do with the government’s woeful mismanagement of the country than oil prices.)

Continue reading

Venezuela Chaos: The Biggest Threat to Cheap Oil

Venezuela’s deepening chaos could soon create tremors in the global oil markets.

Already in an economic and humanitarian crisis, Venezuela’s oil production — the country’s sole lifeline for revenue — has hit a 13-year low.

As the situation worsens, Venezuela’s oil output could plunge even lower. A new report by Columbia University’s Center on Global Energy Policy calls Venezuela a “growing supply risk for oil markets in 2017.”

Oil prices are currently around $45 a barrel, a dramatic drop from about $110 two years ago. The main reason for the low prices is that there’s too much supply globally. However, the line between oversupply and a shortage in the oil market is thin, and Venezuela could tip the scale in the opposite direction.

Continue reading

Weekly Climate and Energy News Roundup #198

The Week That Was: September 26, 2015 – Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project (SEPP)

Changing Science: Several developments related to climate science occurred this week that can have some influence on policy as governments are rushing towards an “agreement” to be reached at the 21st session of the Conference of the Parties (COP-21) of the United Nations Framework Convention on Climate Change (UNFCCC) to be held in Paris from November 30 to December 11. No doubt, these developments will be ignored by some governments, the government-supported Climate Establishment, which adheres to the findings of the UN Intergovernmental Panel on Climate Change (IPCC) while ignoring its deficiencies, and by the well-funded Green lobby, which depends on an image of “saving the world.” One development is a book-length independent review of the IPCC’s work by Alan Longhurst, a biological oceanographer with over 50 years’ experience. The second development is group of essays by mathematician and electrical engineer David Evans posing a serious critique of the models depended upon by the IPCC and the Climate Establishment.

###################################################

Quote of the Week: “Common sense is the collection of prejudices acquired by age eighteen.” Albert Einstein

################################################### Continue reading

Will 2015 be the Year of Renewable Fuel Standard Reform?

By Marita Noon — Re-Blogged From http://www.CFACT.org

The fact the Senate Homeland Security and Government Affairs Committee is attacking the Environmental Protection Agency’s (EPA) management—er, mismanagement—of the federal renewable fuel standard (RFS) is indicative of the growing frustration over both the agency and the RFS itself.
The federal diktat has been late coming and unachievable every year. The EPA Administrator,  was grilled by Senators from both sides of the aisle. Senator James Lankford (R-OK), who chaired the Subcommittee on Regulatory Affairs and Federal Management, opened the hearing by calling the RFS “unworkable in its current form.” In her comments, Senator Heidi Heitkamp (D-ND) claimed that the EPA’s management of the RFS ignored “congressional intent,” while creating “uncertainty” and costing “investment.”

Why OPEC Can’t Kill the U.S. Oil Boom

By Matt Egan – Re-Blogged From http://money.cnn.com

OPEC all but declared “mission accomplished” this week in its efforts to thwart U.S. oil production. In a report Monday, the cartel predicted the U.S. shale oil boom could be over by the end of 2015.

The world has too much oil production at the moment, and it has caused crude oil prices to meltdown from over $100 a barrel in the summer to under $45 now — a six-year low.

Someone needs to scale back, but OPEC, led by Saudi Arabia, has refused to make cuts in an effort to squeeze American shale producers.

OPEC is claiming an early victory by pointing to declines in the number of U.S. drilling rigs and significant cuts in big energy’s spending plans as evidence the U.S. is caving.

Continue reading

Unraveling the Mystery of Oil and the Swiss Franc

By Vitaliy Katsenelson – Re-Blogged From IMA Portfolio Management

I want to preface my article with a short excerpt from one of my favorite books, Antifragile, by Nassim Taleb:

A turkey is fed for a thousand days by a butcher; every day confirms to its staff of analysts that butchers love turkeys “with increased statistical confidence.” The butcher will keep feeding the turkey until a few days before Thanksgiving. Then comes that day when it is really not a very good idea to be a turkey. So with the butcher surprising it, the turkey will have a revision of belief—right when its confidence in the statement that the butcher loves turkeys is maximal and “it is very quiet” and soothingly predictable in the life of the turkey.…The key here is that such a surprise will be a Black Swan event; but just for the turkey, not for the butcher….

Continue reading

Strange Allies in the War on Carbon Fuels

Guest opinion by Viv Forbes – Re-Blogged From http://www.WattsUpWithThat.com

What great cause could unite Prince Charles, President Obama, the Pope, the Arab Oil sheiks, the United Nations, the European Union, the Russians, the Chinese, Pacific Island Nations, most undeveloped countries, the glitterati of Hollywood, left-wing politicians, unrepentant reds, government media, the climate research industry, Big Oil, Big Gas and the Green Blob. It must be something posing a clear and urgent danger to all humanity?

No, the crusade that unites them all is the War on Carbon Fuels, focused mainly on that most vilified target, coal.

Continue reading

Oil Prices

cropped-bob-shapiro.jpg   By Bob Shapiro

I wrote recently about the big drop in the price of oil since last summer. Back in June, crude oil sold for $105 – today, the price is below $59 – per 55 Gallon barrel. That’s a drop of about 44% during the last 6 months.

On the supply side, that drop likely will cause some slowdown in the new US oil fields in North Dakota and Texas, which are dependent on

Continue reading