Obama’s Fantasy: Using US Energy ‘Boom’ Against Russia

The release from the Strategic Petroleum Reserve took down the price of oil in the US, but not in the rest of the world, and didn’t impact Russia. New measures are bandied about – ludicrous attempts by the government to flex some muscle.

Shale Oil & Gas: Not a Revolution But a Retirement Party

This winter, things have begun to unravel. Natural gas inventories are near their 2003 low. Sure, weather is the main factor, but that’s always the case. The truth is that supply has not been able to meet winter demand, period. It’s a fact that is inconsistent with the fairy tales we continue to hear about cheap, abundant gas forever.

Big Oil’s Favorite Subsidy, The Federal Liability Cap for Oil Spills

Why are most of the damages of an oil spill, such as the BP Deepwater Horizon, picked up by taxpayers? A federal liability cap of a ludicrous $75 million, that’s why. Big oil loves that subsidy and thwarts efforts to raise it to realistic levels.

Rosy Dreams? Conundrum for American LNG Exporters

Natural gas prices in the US hovered between $2 and $4 per million btu for years, while reaching $19 in Japan. The industry is pushing for permits to export LNG, hoping for an easy arbitrage opportunity. But the markets may bite back.

A Month of Panic in Iraq (Where It’s STILL All About Oil)

Despite the continued influx of investment in Iraq, the situation is untenable and each month moves closer to an all-out civil war. First, we’ll give you the security run-down, then we’ll get into the oil.

Epic Droughts: Fracking, Water Supply In Mexican Standoff

Fracking poses a growing risk to water supplies. Groundwater contamination has been making headlines, but in parched states like Texas and California, fracking’s massive consumption of water threatens fracking itself.

Outrageously Ballooning Costs Hit Major Oil Companies

Shell’s earnings plunged, eaten up by huge costs, delays, and lower production. Chevron’s Gorgon LNG project is $20 billion over budget. Italy’s ENI blows $50 billion on the Kashagan oil field, five times what it expected. Now oil companies are cutting back, with consequences.

Already Toast? Mexico’s Energy Reform Buzz vs. Oil Theft, Corruption, And Organized Crime

A pipeline explosion in Tezoyuca, Mexico, injured seven and forced the evacuation of 800 families. It was caused by a tap to steal liquefied petroleum gas. Mayor Arturo Ahumada Cruz affirmed that the pipeline is perpetually tapped.

California Water Crisis Meets (Already Iffy) Fracking Boom

California is sitting on the largest tight oil formation in the US, the Monterey Shale. Interest is heating up. The legislature passed a controversial law to regulate fracking and allow the industry to drill. But fracking requires lots of water.