Just last summer, renewable energy was considered a booming industry. Stock prices were on an upswing, investors like Hewlett-Packard, Berkshire Hathaway, and Dow Chemical were coming to the table, and President Barack Obama announced a plan to triple renewable energy capacity in federally subsidized housing and make wind and solar energy more accessible to low- and middle-income households. But optimism is fading alongside sinking oil and gas prices.
Articles Tagged: energy markets
Threat of a presidential veto on a House measure to lift the U.S. ban on crude oil exports suggests the effort is dead in the water, a refinery group said. The White House issued a statement of administration policy in response to House resolution 702, a measure sponsored by Rep. Joe Barton, R-Texas, that would remove restrictions on the export of crude oil produced in the United States.
s if there weren’t already enough problems to worry about in the Middle East, Saudi Arabia might be headed for trouble. From plummeting oil prices to foreign-policy missteps to growing tensions with Iran, a confluence of recent events is mounting to pose some serious challenges for the Saudi regime. If not properly managed, these events could eventually coalesce into a perfect storm that significantly increases the risk of instability within the kingdom, with untold consequences for global oil markets and security in the Middle East.
Oil executives warned on Tuesday of a “dramatic” decline in U.S. production that could pave the way for a future spike in prices if fuel demand increases. Delegates at the Oil and Money conference in London, an annual gathering of senior industry officials, said world oil prices were now too low to support U.S. shale oil output, the biggest addition to world production over the last decade.
After almost a year of painfully low oil prices, OPEC members are beginning to believe they are winning against upstart U.S. shale producers in a short-term market share contest. Yet insiders and experts say OPEC is looking for a longer-lasting impact on other high-cost production oil field plans, many in deep oceans, with bigger time scales, even if that means a period of cheap oil prices lasting for years.
U.S. natural gas production has been holding steady in 2015, but stalled growth this year won’t erase the huge supply of gas driving down prices, according to the latest analysis by financial services firm Raymond James.
2015 promises to be a record year for American natural gas production, thanks in no small part to high consumption for power generation fueled by low gas prices.
natural gas. The US Energy Information Administration forecasts natural gas prices to remain below $3 per million British thermal units (MMBtu) through November.