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Quote – 15 Jun 2015

By on June 15, 2015 in Quotes

“We were on stage in a panel at an Oslo energy forum and we were pressed by people in the panel to talk about our views on climate and what our positions were…On stage, Ben [van Beurden, Shell CEO], Patrick [Pouyanne, Total CEO], Eldar [Saetre, Statoil CEO] and I said we should speak with a common voice – why don’t we do that? It came about as simple as that.”
 
–BP CEO Bob Dudley (Reuters, June 13)
 
CEOs of Eni and BG joined the initiative in the weeks that followed. The bosses of ExxonMobil and Chevron opted not to join the initiative, much to the ire of their European counterparts 

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World Oil Demand Surges: A Data Point For Price Recovery

By on March 16, 2015 in Commentary
World Oil Demand Surges: A Data Point For Price Recovery

By Art Berman.  Reprinted from ArtBerman.com World oil demand increased by 1.1 million barrels per day in February. This is a potentially important data point that suggests a crude oil price recovery sooner than later. It is also important because it further supports the view that a production surplus and not weak demand is the main cause for the […]

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Déjà Vu With a Twist?

By on February 2, 2015 in Commentary

By Robert L. Hirsch. The recent world oil supply/price decline situation looks very much like what happened in 1985-86, when the Saudis dramatically increased oil production, causing world oil prices to crater.  That Saudi action was the result of their having acted as swing producer in OPEC, which under those circumstances caused a progressive loss […]

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An Apollo Program for Energy

By on January 29, 2015 in Commentary

A National Energy Program – A White Paper on Achieving Energy Independence and National Transformation.   By Lawrence Klaus. Revised and Updated, January 2015. In a recent post, we marked the 40th anniversary of the 1973 Oil Embargo–an event that has had profound economic and geopolitical aftershocks for the United States.  The embargo itself lasted […]

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Top 10 News Stories of 2014

By on January 6, 2015 in Commentary, Peak Oil Review

By Steve Andrews and Tom Whipple – Editors, Peak Oil Review 1. Oil Price Crash The great price crash of 2014 could well turn out to be one of the defining events of the decade, for it has the potential to bring major changes to the oil markets, not only for the next five years, […]

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Quote of the Week – 29 Dec 2014

By on December 29, 2014 in Quotes

“Taking into account the future decline of shale production in the U.S. and Canada, it is Venezuelan oil that can become the substitutional element for the receding volumes of those markets.

–Igor Sechin, CEO of Russia’s Rosneft

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Quote of the Week_22 Dec 2014

By on December 22, 2014 in Quotes

“[Drilling] Costs are falling nearly as fast as the price, which means oil producers can spend less to get the same or potentially even more in terms of production. While reductions in capex are coming faster than expected, it is unlikely to translate into less supply.“
 
 
— Goldman Sachs report [dartboard alert]

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Quote of the Week – 23 Dec 2014

By on December 22, 2014 in Quotes

“[Drilling] Costs are falling nearly as fast as the price, which means oil producers can spend less to get the same or potentially even more in terms of production. While reductions in capex are coming faster than expected, it is unlikely to translate into less supply.“
 
 
— Goldman Sachs report [dartboard alert]

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Quote of the Week – 15 Dec 2014

By on December 15, 2014 in Quotes

“The world has such an improved outlook for supplies. Peak oil theorists have been run out of town by American ingenuity.”
 
 
— Bill Colton, Exxon’s chief strategist

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Quote of the Week – 08 Dec 2014

By on December 8, 2014 in Quotes

“We are becoming poorer, our savings vanish, prices grow; however we see an opposite effect to the one that is wanted by people who wish to see Putin knocked down.”
 
 
— Olga Kryshtanovskaya, sociologist, Russian Academy of Sciences.

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