Oil Advances to 3-Month High Before Europe Debt Meetings at Bloomberg.
Demand destruction stunner: “Oil consumption in July 2012 was 18.062 barrels per day–matching July 1995 levels.” John Hanger
With 2011 Permian oil production of 767,000 bpd and Bentek estimating current Permian oil production near 1.29 million bpd, it seems the predicted 60% increase to 1.82 million bpd by year end 2016 is quite light. Reuters
Projected Utica shale growth a ‘game changer’ for Ohio, speakers say at Ohio.
The refinery trade defined: “U.S. oil refiners are benefiting from infrastructure bottlenecks.” Globe and Mail
At some point the U.S. might want to stopping lolly-gagging and approve the Keystone XL Pipeline: Mining. “…overall, the idea of adding the value in Canada, developing, upgrading, processing, refining, our own natural resources is a good one.” Financial Post
I maintain US natural gas drillers would destroy LNG pricing in short order if given the chance (IAR). A pragmatic look at The Reality of Exporting LNG at Haynesville Play.
I’m still catching up, so while this is a almost a week old, energy was actually the second best performing sector over the last month: All Star Charts.
Owning the right stocks is vital. Robust oil prices and still ATP Oil & Gas Files for Bankruptcy Protection in Texas at Bloomberg.
Update: In the next day or two Independent Stock Analysis looks to become a subscription website.
If one examine the price charts of coal and NG, over the past 17 years, the former has more cost stability than the wild fluctuation of gas.
Until NG can constrain these wild wings, many industrial users will continue to favor coal…