Yesterday, Gas Slides on Forecasts for Above-Normal Temperatures at Bloomberg. Perhaps a slow start to winter provides an entry point for the gassers…
The service company’s loss is the E&P’s gain: “Pricing for shale work is expected to tumble further as the contracts that were signed at higher rates begin to expire and new deals are signed at lower prices.” Bloomberg
Reversing Refiners by Greg Harmon.
Brent Premium Rises to One-Year High; WTI Crude Declines at Bloomberg.
“The global energy industry faces downward pressure on demand while supply of fossil fuels has risen sharply but there is no risk of a price collapse, Saudi Aramco CEO Khalid al-Falih was quoted as saying Monday.” Platts
Let the nationalism begin: Lawmaker seeks details of crude oil export requests (Reuters). US oil exports to Canada not a sign of strategy shift at Fuel Fix. “Gas Prices Stay High Even as Production Surges, as Midwest Can’t Dent Global Market; Some Refiners Profit” WSJ
In 2012 the U.S. will produce 83% of the energy it consumes, up from 73.9 in 2008. Business Week
“…the U.S. is on pace to use 7 percent fewer BTUs of energy in 2012 than four years ago. Slightly higher prices for gasoline, heating oil, and electricity have eaten into those savings. Consumers are likely to spend $641 billion on energy in 2012, down about 2 percent from 2008.” The U.S. is on pace to use 10% less fossil fuels in 2012 than 2008. Business Week
Sensational alert: Iran Drew Up Plans To Cause A Vast Oil Spill In The Strait Of Hormuz at Business Week.
Heads up: JJ Butler will be taking holiday starting Thursday through the end of this week. No need to fret! ISA has a post scheduled for the mornings of Thursday, Friday and Saturday.