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Trump To Rollback Deepwater Horizon Regulations

Authored by Nick Cunningham via OilPrice.com, The Trump administration is hoping to slash regulations on offshore oil drilling that were implemented after the 2010 Deepwater Horizon disaster that killed nearly a dozen people and led to an oil leak that spewed for months. According to the Wall Street Journal, the Bureau of Safety and Environmental […]

THE U.S. SHALE OIL INDUSTRY: Swindling & Stealing Energy To Stay Alive

By the SRSrocco Report, While the U.S. Shale Energy Industry continues to borrow money to produce uneconomical oil and gas, there is another important phenomenon that is not understood by the analyst community.  The critical factor overlooked by the media is the fact that the U.S. shale industry is swindling and stealing energy from other […]

Futures Flat As FOMC Meeting Begins; Brent Jumps Over $65 For First Time Since 2015

E-mini futures are modestly in the green this morning, though net of fair value the S&P index is poised for another record high open as the FOMC begins its last meeting for 2017 in which it is expected to raise rates by 25bps. European stocks gain while Asian equities slide led by weakness in Chinese […]

Bay Area Sues Big Oil For Billions

Authored by Irina Slav via OilPrice.com, The cities of San Francisco and Oakland have filed lawsuits against Chevron, Exxon, ConocoPhillips, BP, and Shell for the effect of their activities on climate change: higher sea levels. The cities seek billions in damages to counteract the effects of the changing climate. Reuters quoted San Francisco officials as […]

Hurricane Irma Could Destroy Oil Demand

Authored by Nick Cunningham via OilPrice.com, About half of the shuttered refining capacity along the Gulf Coast could be back up and running by Thursday, assuaging concerns about the possibility of acute gasoline shortages in much of the U.S. The disruptions of more than 4 million barrels per day of refining capacity have been cut […]

Gasoline Prices Tumble As Refiners Resume Operations

RBOB Gasoline futures tumbled to their lowest level in almost a week overnnight as several US Gulf Coast refineries reported their plans to restart operations after the devastation of Hurricane Harvey forced them to shutdown. While about one-fifth of U.S. refining capacity is halted, according to data compiled by Bloomberg, some plants including those operated by Citgo […]

US Crude Production Stalls As Oil Rig Count Rolls Over

Amid the chaos and turmoil caused by Harvey, today's rig count data is likely to change things as much as a fart in a hurricane. US crude production in the Lower 48 actually fell last week, syncing with the stabilization in the lagged oil rig count. The US Oil Rig count held to two-month lows […]