Oil companies are growing increasingly cautious on spending on production growth amid concerns about an oversupplied market and oil prices lower than at last year’s levels…
Natural Gas Is Crushing Wind and Solar Power – Why Isn’t Anyone Talking About It?…
The U.S. Energy Information Administration just announced some spectacular news that should be banner headlines across the country: The price of natural gas has fallen to its lowest February level in 20 years. The data shows that natural gas prices fell to $1.77 per million British thermal units. In inflation-adjusted terms, the price of gas […]
Oil World Turns Upside Down as U.S. Sells Oil in Middle East…
The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil. Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly […]
U.S. Oil Production Hits 10 Million Barrels Per Day for First Time Since 1970…
U.S. oil production hit 10 million barrels per day in November for the first time since 1970, highlighting the power of shale oil and natural gas boom. More than 6 million of those barrels came from shale, the Energy Information Administration reported Wednesday. Nationwide output reached 10.038 million barrels a day in November, the agency […]
Permian’s Wolfcamp Formation Called Biggest Shale Oil Field in U.S….
One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed…