Oil / Finance

Oil rises, but faces prospect of growing US output

Feb 20 5:41am Energy
Oil prices rose but gains were limited on Monday.
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Peak Oil Review Feb 20 2017

Feb 20 5:21am Resilience
A weekly roundup of Peak oil news. Oil prices have moved little since they jumped from the mid-$40s to the mid-$50s in late November. Last week was no exception.
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Appropriate Civilization versus New Despotism: State of Play on 20th February 2017, one month into the Trump presidency

Feb 20 5:00am Resilience
Suddenly believers in the possibility of a better civilization, one rooted in increasing human co-operation and harmony, find ourselves in a world where demagogues can now realistically plot the polar opposite: a new despotism rooted in rising isolationist nationalism and human conflict. The more we dig into how the demagogues and their supporters have organised their recent successes, in particular in using technology to manipulate voter beliefs on an industrial scale, the more terrified many of us find ourselves.
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Trump's defense chief, in Iraq, says: We're not here for your oil

Feb 20 4:28am Energy
Defense Secretary Jim Mattis distanced himself from President Trump's remarks before arriving in Baghdad.
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Mexico turns to the Jurassic era for shale oil: Fuel for Thought

Feb 20 12:01am The Barrel Blog
Mexico’s plans to develop its shale oil resources have finally taken a step forward following years of largely fruitless efforts by the state owned company Pemex. Canada’s Renaissance Oil and Russia’s Lukoil are joining forces to develop the Amatitlan block of the Chicontepec region. They aren’t interested in the shallower tight oil, but in the […] The post Mexico turns to the Jurassic era for shale oil: Fuel for Thought appeared first on The Barrel Blog.
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Oil prices flatline as US drilling counters OPEC output cuts

Feb 19 11:32pm Energy
Oil prices held steady as investors gauged whether an increase in U.S. drilling rigs and stockpiles would undermine output cuts.
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We don't believe in rapid escalation in oil prices: Saudi Arabia

Feb 19 6:34pm Energy
Adel al-Jubeir, foreign minister of Saudi Arabia, talks about his country's oil policy and diversifying the Saudi economy.
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Questioning Our renewable future: There is a stronger case than Heinberg and Fridley present.

Feb 19 3:37pm Resilience
This valuable book explains many of the difficulties making the achievement of 100\% renewable energy uncertain. However a much stronger case can be given, indicating that present energy-affluent societies cannot be run on renewables. We can and must shift to renewables, but there must also be dramatic reduction in energy consumption, rich world “living standards” and GDP.
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Iraqi prime minister expresses optimism country won't be on new travel ban

Feb 19 7:49am Energy
President Donald Trump's plans to seize Iraqi oil has been dismissed by the country's prime minister.
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Iran dismisses new US pressure, calls for 'mutual respect'

Feb 19 7:24am Energy News Headlines - Yahoo! News
MUNICH (AP) — Iran's foreign minister brushed aside new pressure from the United States on Sunday, declaring that his country is "unmoved by threats" but responds well to respect.
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Graham: Trump must punish Russia for election interference

Feb 19 5:44am Energy News Headlines - Yahoo! News
MUNICH (AP) — A senior U.S. Republican senator on Sunday urged President Donald Trump to take action against Russia over allegations that Moscow interfered in the election that brought him to power.
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"Blind Sheik" guilty of 1990s terror plots dies in US prison

Feb 19 2:37am Energy News Headlines - Yahoo! News
The so called Blind Sheik, Omar Abdel-Rahman, who was convicted of plotting terror attacks in New York City in the decade before 9/11 has died in a federal prison. He was 78.
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The simple truth: Coal-fired generators have no future in Australia

Feb 18 6:12pm The Oil Drum - ANZ
Lots of high quality energy and climate articles in he Australian press this week. * The simple truth: Coal-fired generators have no future in Australia...
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Now we have a bogeyman: Trump helps immigration activists raise awareness of deportation issues

Feb 18 6:03pm Energy News Headlines - Yahoo! News
Demonstrators protest the immigration polices of President Trump on Feb. 11, 2017, in New York City. For many immigrants living in the United States, President Trump’s rhetoric and recent executive orders have become a source of confusion and fear. Undocumented immigrants, by definition, have a vested interest in keeping a low profile.
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The Latest: Pence offers Ukraine's president support

Feb 18 5:31pm Energy News Headlines - Yahoo! News
MUNICH (AP) — The Latest on U.S. Vice President Mike Pence's trip to Europe (all times local):...
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Pence offers 'unwavering' NATO pledge, leaves open questions

Feb 18 3:31pm Energy News Headlines - Yahoo! News
MUNICH (AP) — America's commitment to NATO is "unwavering," U.S. Vice President Mike Pence said Saturday, reassuring allies about the direction the Trump administration might take but leaving open questions about where Washington saw its relationship with the European Union and other international organizations.
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AP Exclusive: Hundreds of Texans may have voted improperly

Feb 18 3:30pm Energy News Headlines - Yahoo! News
AUSTIN, Texas (AP) — Texas election officials have acknowledged that hundreds of people were allowed to bypass the state's toughest-in-the-nation voter ID law and improperly cast ballots in the November presidential election by signing a sworn statement instead of showing a photo ID.
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Hopes for US nuclear sector renaissance fade after Westinghouse's $6 billion black eye

Feb 18 12:33pm Energy
Concerns over safety and costs have constrained growth and combined to block nearly all new projects, The NYT reports.
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Opel Could Possibly Become EV Only Brand If Kept by GM

Feb 18 11:39am Energy News Headlines - Yahoo! News
This would be a significant turn in direction for the automaker.
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Trump's team in disarray, U.S. Senator McCain tells Europe

Feb 18 6:53am Energy News Headlines - Yahoo! News
By Phil Stewart and Robin Emmott MUNICH, Germany (Reuters) - Republican Senator John McCain broke with the reassuring message that U.S. officials visiting Germany have sought to convey on their debut trip to Europe, saying on Friday that the administration of President Donald Trump was in disarray . McCain, a known Trump critic, told the Munich Security Conference that the resignation of the new president's security adviser Michael Flynn over his contacts with Russia reflected deep problems in Washington. I think that the Flynn issue obviously is something that shows that in many respects this administration is in disarray and they've got a lot of work to do, said McCain, even as he praised Trump's defense secretary.
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Republicans take evasive maneuvers to avoid feisty town halls

Feb 18 5:00am Energy News Headlines - Yahoo! News
With President Trump’s White House mired in controversy and his party’s legislative agenda initially stalled as a result, congressional Republicans are discovering a new outlet for their creative energies as they head home for next week’s recess: avoiding their constituents. As many observers have noted, rank-and-file progressives have recently taken a page from the tea party’s playbook, and begun to disrupt in-person town-hall events with their representatives, booing Rep. Jason Chaffetz, R-Utah, and prompting police to escort Rep. Tom McClintock, R-Calif., to his car. Take Republican Rep. Darrell Issa, R-Calif., who represents a district located in the coastal suburbs north of San Diego.
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Live updates: President Trumps rally in Florida

Feb 17 6:15pm Energy News Headlines - Yahoo! News
President Trump travels back to Florida this weekend to hold a rally akin to the boisterous gatherings that were the hallmark of his 2016 presidential campaign. The event is scheduled for 5 p.m. ET Saturday and will be held in an airport hangar in Melbourne, Fla. Tune in here for live commentary and analysis from Yahoo News Chief Washington Correspondent Olivier Knox and National Correspondent Holly Bailey, who covered Trump’s road to the White House.
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Besieged Trump lashes out at mainstream media: The enemy of the American People!

Feb 17 5:24pm Energy News Headlines - Yahoo! News
“The FAKE NEWS media (failing @nytimes, @NBCNews, @ABC, @CBS, @CNN) is not my enemy, it is the enemy of the American People!” he declared from South Florida, where he is staying for the weekend at his Mar-a-Lago estate. The FAKE NEWS media (failing @nytimes, @NBCNews, @ABC, @CBS, @CNN) is not my enemy, it is the enemy of the American People! Trump’s latest attack against the press came after Thursday’s feisty marathon press conference, in which the president aired a host of grievances over how the media has been covering his White House.
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US crude settles at $53.40, up 4 cents, but posts first weekly decline in five weeks

Feb 17 2:33pm Energy
Oil was pressured by rising stocks, but hope that an output cut by producers might balance the market capped losses.
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Murray Energy CEO claims global warming is a hoax, says 4,000 scientists tell him so

Feb 17 2:06pm Energy
Robert Murray said there is no scientific analysis to back Obama-era initiatives to ease climate change. There is.
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Senate confirms Scott Pruitt as EPA administrator in mostly party-line vote

Feb 17 1:19pm Energy
Scott Pruitt attracted scorn from Democrats and environmentalists and praise from conservatives and the energy industry.
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Oil holds losses as Baker Hughes reports US rig count rises by 6 to 597

Feb 17 1:04pm Energy
Oil was pressured by rising stocks, but hope that an output cut by producers might balance the market capped losses.
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Futures Now: Oil on pace for negative week

Feb 17 12:54pm Energy
The "Futures Now" team discusses the "stubborn" move in oil, and where the commodity may head from here.
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Buy Arch Coal on deregulation under Trump, potential dividend, Jefferies says

Feb 17 12:12pm Energy
Jefferies says Arch Coal can generate enough cash in the next five years to equal nearly 70 percent of its current market value.
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We are not thugs: Rep. Correa defends Hispanic Caucus after dismissal from ICE meeting

Feb 17 11:22am Energy News Headlines - Yahoo! News
Members of the Congressional Hispanic Caucus (CHC) were outraged after they were barred from a meeting with Thomas Homan, the acting director of U.S. Immigration and Customs Enforcement (ICE). On Thursday, at the request of House Judiciary Committee Chairman Bob Goodlatte, R-Va., and House Speaker Paul Ryan, R-Wis., the speaker’s staffers asked CHC members to leave the meeting, which was about the execution of President Trump’s controversial immigration policy.
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Senate expected to vote on party lines to confirm Scott Pruitt as EPA administrator

Feb 17 11:00am Energy
Scott Pruitt attracted scorn from Democrats and environmentalists and praise from conservatives and the energy industry.
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London introduces $12 daily 'toxicity charge' for most polluting cars

Feb 17 10:07am Energy
London is to introduce a 'toxicity charge' for polluting cars from October.
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Trump's media bias survey sparks online battle between fans and critics

Feb 17 10:05am Energy News Headlines - Yahoo! News
A survey from President Trump’s campaign team meant to gather antimedia answers has turned into an online proxy war between those who support the president and those against him. On Thursday, moments after he completed an hour-plus press conference, in which much of the time was spent attacking reporters and “fake news,” Trump’s team emailed out a survey to all his supporters imploring them to help fight the mainstream media.
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Pisani: Two particular groups having problems, banks and energy stocks

Feb 17 9:38am Energy
CNBC's Bob Pisani looks ahead at what's moving markets this morning.
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Plastic pellets found on 73 percent of UK shoreline, survey finds

Feb 17 7:34am Energy
A survey by volunteers in the U.K. has found that small plastic pellets are posing a big problem across the country.
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Oil prices slip as high stocks overshadow OPEC cuts

Feb 17 6:37am Energy
Oil was pressured by rising stocks, but hope that an output cut by producers might balance the market helped to support.
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Hundreds of migrants enter Spain from Morocco: officials

Feb 17 3:57am Energy News Headlines - Yahoo! News
Hundreds of migrants stormed into Spain's North African territory of Ceuta from Morocco early Friday, the emergency services and police said, adding that some were injured in the process. The Civil Guard at Ceuta estimates that 500 people could have succeeded in entering the town, the emergency services said on Twitter.
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Need You Now - Strategic Petroleum Reserve Add-Ons, and Why They're Needed

Feb 16 9:00pm RBN Energy - Accelerating energy market analytics through collaboration, networking and alliances
The Shale Revolution has caused big changes in U.S. crude oil production, in domestic flows of crude via pipelines, ships and rail tankcars, and in crude import volumes. Flow changes in particular have negatively affected the Strategic Petroleum Reserve’s ability to accomplish its two primary goals: protecting U.S. refineries from the worst effects of a major crude oil supply interruption, and—when called upon by the International Energy Agency—quickly injecting large volumes of crude into global markets. A fix now in the works would add Gulf Coast marine terminals dedicated specifically to moving SPR-stockpiled crude to those who need it, both within the U.S. and overseas. Today we conclude a two-part blog series on challenges and coming changes at the SPR.
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Oil firms as OPEC floats extended output cut; markets still bloated

Feb 16 8:44pm Energy
Oil prices edged up on Friday, lifted by a report that producer club OPEC could extend an output cut.
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Singapore's UOB reports Q4 net profit down as oil industry debts weigh

Feb 16 8:41pm Energy
Singapore's UOB reported on Friday its earnings for the fourth quarter slipped 6.2 percent on-year to S$739 million.
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Traders weigh oil stocks amid pullback

Feb 16 7:08pm Energy
The "Fast Money" traders drill into the oil sector.
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Singapore's UOB reports Q4 net profit fell 6.2% to S$739 million amid hit from oil industry exposure

Feb 16 7:05pm Energy
Singapore's UOB reported on Friday its earnings for the fourth quarter slipped 6.2 percent on-year to S$739 million.
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Can Trump make good on his pledge to prosecute leaks?

Feb 16 6:18pm Energy News Headlines - Yahoo! News
President Trump vowed today to crack down on “low-life leakers” who set in motion the events that led to the firing of his national security adviser, Gen. Mike Flynn. The leakers — also known to journalists as sources — disclosed that Flynn had spoken to the Russian ambassador during the Trump transition about easing sanctions that had been imposed by then-President Barack Obama.
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Oklahoma judge orders EPA nominee Scott Pruitt to turn over emails to watchdog group

Feb 16 5:53pm Energy
A watchdog group has sued Oklahoma Attorney General Scott Pruit for dodging its requests for emails and other documents.
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I was given that information; I dont know: 12 standout quotes from Trumps marathon press conference

Feb 16 4:27pm Energy News Headlines - Yahoo! News
On Thursday, President Trump held a press conference in the White House East Room that ran for more than an hour. Here are a few of the more memorable quotes from the president. This was the president’s defense of former National Security Advisor Michael Flynn, who resigned Tuesday night.
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Michael Anton is the most interesting man in the White House

Feb 16 4:19pm Energy News Headlines - Yahoo! News
At left are Michael Flynn and K.T. McFarland. WASHINGTON — Sitting in a small office in the West Wing last Friday, White House senior national security staffer Michael Anton lamented that he wants to remain behind the scenes.
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Oklahoma judge holds hearing on whether EPA nominee violated transparency law

Feb 16 4:16pm Energy
A watchdog group has sued Oklahoma Attorney General Scott Pruit for dodging its requests for emails and other documents.
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Trump kills coal pollution rule that reportedly would have created as many jobs as it cost

Feb 16 4:12pm Energy
The Stream Protection Rule would have cost an average 260 jobs year and created 250 positions annually.
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3 arrested in NKorean's death in Malaysia; autopsy completed

Feb 16 3:30pm Energy News Headlines - Yahoo! News
KUALA LUMPUR, Malaysia (AP) — Malaysian authorities announced two more arrests Thursday in the death of the North Korean leader's half brother, whose apparent assassination this week unleashed a wave of speculation and intrigue: a pair of female assailants, a broad-daylight killing and a dictator-sibling out for blood.
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Possible Trump science advisor says global warming is a 'non-problem' not worth investing in

Feb 16 3:25pm Energy
Will Happer says he resents being called a 'climate denier,' and says carbon dioxide is actually good for the planet.
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Donald Trump claims falsely that Hillary Clinton gave Russia 20% of US uranium

Feb 16 3:17pm Energy
PolitiFact determined Trump's claim Hillary Clinton gave Russia one-fifth of U.S. uranium is mostly false.
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Are they friends of yours?: Trump asks African-American journalist to help set up meeting with Congressional Black Caucus

Feb 16 3:11pm Energy News Headlines - Yahoo! News
President Trump used part of his rambling news conference Thursday to reaffirm his campaign pledge to help revive the nation’s struggling inner cities, including Chicago. “Do you want to set up the meeting?” Trump asked Ryan, who is black. “I’m just a reporter,” Ryan replied, appearing flummoxed.
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Trump: The leaks are absolutely real. The news is fake.

Feb 16 2:54pm Energy News Headlines - Yahoo! News
President Trump sparred with members of the press at the White House on Thursday, complaining about what he described as the media’s negative tone in its coverage of his administration — and, in particular, coverage of the recent leaks about the Trump campaign’s alleged contacts with Russia. “The leaks are absolutely real,” Trump said. Trump was asked by CNN’s Jim Acosta about the “disconnect” the president sees between the leaks and the news that comes out of them.
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US crude settles at $53.36, up 25 cents, as OPEC signals possible output deal extension

Feb 16 2:33pm Energy
OPEC may extend its oil supply cuts with non-members if crude inventories fail to drop enough, sources said.
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Coal pollution rule killed by the GOP would have created as many jobs as it cost: Report

Feb 16 1:48pm Energy
The Stream Protection Rule would have cost an average 260 jobs year and created 250 positions annually.
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Nearly 800 former EPA officials oppose Trump pick for agency

Feb 16 1:13pm Energy News Headlines - Yahoo! News
Nearly 800 former Environmental Protection Agency officials urged the U.S. Senate to reject President Donald Trump's nominee to run the agency as the chamber moved closer on Thursday to approving his pick, Scott Pruitt, the attorney general of oil-producing Oklahoma. The 773 former officials signed a letter organized by the nonprofit group Environmental Integrity Project that said Pruitt's record and public statements suggest he does not agree with underlying principles of environmental laws. As attorney general, Pruitt sued the EPA more than a dozen times on behalf of Oklahoma and he has cast doubts on the science of climate change.
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Oil prices rebound in choppy trade; OPEC signals possible output deal extension

Feb 16 12:45pm Energy
OPEC may extend its oil supply cuts with non-members if crude inventories fail to drop enough, sources said.
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Senate advances nomination of Trump pick Pruitt to head EPA

Feb 16 12:05pm Energy News Headlines - Yahoo! News
The U.S. Senate on Thursday voted to advance the nomination of President Donald Trump's pick to run the Environmental Protection Agency and a final vote could occur on Friday. The Senate voted 54 to 46 to advance Scott Pruitt, the attorney general of oil and gas producing Oklahoma. Pruitt has come under criticism from many lawmakers for suing the agency he intends to run 14 times on behalf of Oklahoma.
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