Flaring wastes 3.5 percent of the world’s natural gas
Around 3.5 percent of the world’s natural-gas supply was wastefully burned, or “flared,” at oil and gas fields in 2012, according to the latest estimates from satellite data.
Natural gas plummets after inventory report
Natural-gas futures plunged Thursday after a government report showed a smaller-than-expected withdrawal last week, fueling fears over the high levels of gas storage.
‘Bolt’-ing toward independence from oil
Despite the fact that there are 10 different affordable (sorry Tesla) all-electric cars on the market today, battery EV sales were extremely low in 2015 — making up less than one quarter of 1 percent of total vehicles sold. Read more →
EIA: U.S. shale oil output to decline 116,000 b/d in February
Crude oil production in February from seven major US shale plays is expected to fall 116,000 b/d to 4.83 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report.
Oil briefly dips below $30; $124 billion in oil company profits lost
There aren’t many people who feel bad for oil companies. But the implosion in oil prices — which briefly pushed the price of crude below $30 a barrel Tuesday for the first time since 2003 — is causing a profit decline that almost invokes pity.
Worst oil bust in 45 years brings U.S. crude below $31 a barrel
The oil bust that has cost the United States roughly 70,000 energy jobs has become more severe than any downturn in 45 years, Morgan Stanley said Monday, as crude prices fell a sixth day.
Drivers filling up on $2 gas aren’t worried about fuel efficiency
American drivers are turning their backs on better mileage.
In North Dakota, an oil boomtown doesn’t want to go bust
People loved to leave this town. Kids grew up and got out. Take me to Minot, they would say. To Fargo or Bismarck. Anywhere but this emptiness. Then the boom began and the world came to them.
Food vs. fuel: It’s not what you think
Food vs. fuel. It’s an argument you’ve likely heard before, and you’re likely to hear again. People in the world are still going hungry, so we shouldn’t be using crops to make fuel. The corn grown in the United States should be going into the bellies of starving children, not our gas tanks. Read more →
Oil prices tumble 10 percent for the week
Oil fell for a fifth straight day on Friday, losing 10 percent on the week, and Goldman Sachs said more losses were needed to force producers to cut supplies adequately to balance the glut and bleak demand outlook in the market.
