Something is happening that Republicans eyeing the fall elections don’t like: Hiring remains strong and gas prices are falling. I’m not saying they’re against a strong job market and lower gas prices; they’d just rather take credit for it themselves. Anyway, this is what Hous[...]
Posts Tagged ‘Falling Oil Prices’
How Biden could have prevented high gas prices
He couldn’t have prevented the years of low oil prices and cheap gas that gutted oil company profits. (For example, Exxon’s profit dropped from $32.5 billion in 2014 to $7.8 billion in 2018, and the company lost $22.4 billion in 2020.) That was engineered by Saudi Arabia to kill off the [...]
Why it’s silly to blame Biden for higher gas prices
“The world’s underinvestment in fossil fuel development since 2014 is leading to an era of scarcity for global oil markets, Halliburton CEO Jeff Miller told the World Petroleum Congress today in Houston.” Read story here. What happened in 2014, of course, is that crude prices crash[...]
January 11th, 2016 - 11:50 am § in Misc.
CHEAP OIL
U.S. West Texas Intermediate (WTI) crude was down $2.06 at $31.10 per barrel by 1:20 p.m. EDT (1820 GMT), having briefly dipped below $31 to the lowest level since December 2003. Brent crude futures were down by $2.15 at $31.40 a barrel, after falling to the lowest level since April 2004. [...]
January 6th, 2015 - 3:06 pm § in Uncategorized
England may be in the same shape as Russia. Is North Dakota next?
UK oil industry ‘close to collapse’ as price plunges below $60 per barrel Britain’s oil industry is in a “crisis” and may be “close to collapse,” a senior oil industry expert has said, as the UK’s biggest oil and gas companies continue to…[...]
December 10th, 2014 - 12:25 pm § in Misc.
What’s going on with oil? A Q & A primer
Here are some basic facts about oil. The economic law of supply and demand affects pricing, supply, and demand with respect to oil. Unlike natural gas, whose markets are fragmented, and whose pricing varies widely by geographic local, oil can be transported across oceans easily and cheaply, so oil&#[...]