There has been a surge of derailments of trains carrying crude oil that resulted in huge, deadly explosions, highly unusual for crude oil trains. But the oil originated from the Bakken shale formation in North Dakota.
Iran and Russia are in talks about a potential $1.5 billion oil-for-goods swap that could boost Iranian oil exports by 50%, which didn’t go over very well in Washington.
Oil companies have been fracking offshore California and dumping chemicals into coastal waters for as long as two decades. It wasn’t until recently that FOIA requests brought it to light. Now the EPA is feebly trying to step in.
Brazil has been touted as Latin America’s oil powerhouse, projected to account for one-third of global supply growth by 2035. But poor policies and bad luck are throwing cold water on these projections.
Turkish Prime Minister Erdogan, his party (the AKP), and the business elite attached to them have become targets of a focused corruption scandal that he may not survive. It should shake investor confidence to its core.
A UBS report finds that the declining costs of renewable energy and energy storage are presenting a “perfect storm” for big utilities: They upend centralized electricity generation and put the utility business model in jeopardy.
US oil production is breaking 20-year records. With the International Energy Agency suggesting the boom won’t last, smart investors are getting behind rail as the delivery tool of choice. Forget the controversial Keystone XL pipeline.
By Scott Belinksi, OilPrice.com: If one were to believe most Western media outlets, the Ukraine has been lost to Russia. But two gas deals the Ukraine has reportedly made, one with Russia, the other with Slovakia in the EU, show that reality is slightly more complex.
By John Daly, Oilprice.com. A product of the Keystone XL pipeline delay is that crude from the Alberta oil sands is refined in the Midwest, generating slag heaps of petroleum coke, or “petcoke,” whose airborne particles has local residents up in arms.
By Nick Cunningham, OilPrice.com: The Energy Information Administration predicts the Bakken formation in North Dakota will surpass 1 million barrels per day of oil production in December. Since 2010, production has skyrocketed. So has the money.