Buffett and Munger on Future Oil Prices – Great Wisdom
I’m long term bullish on oil. $80 oil is already a pretty heady price versus what we started the decade at (somewhere around $20). I think it is pretty hard not to be bullish on oil going forward once you do some reading and discover two things: 1) All of the super giant oil fields ...
Let’s Bring It Home!!! Please America, Drill Here!
Yang Hua, president of CNOOC Ltd. Photographer: Jerome Favre/Bloomberg Cnooc Ltd., China’s biggest offshore oil explorer, expects to reap a “plenteous harvest” this year after stepping up acquisitions and production to gain from higher energy prices and domestic demand. The Beijing-based company increased its full-year output estimate by 13 percent yesterday after third-quarter revenue surged ...
‘Sweet spot’ wanted for fair oil price – Supply VS. Demand
“Sweet spot” needed for fair oil price. (SUPPLIED) Hydrocarbon producers and consumers should seek a “sweet spot” that will bring them closer to agreement on a fair oil price, which can not be displayed by dysfunctional market, according to a prominent Arab energy analyst. Ali Aissaoui, senior consultant at the Saudi-based Arab Petroleum Investment Corporation ...
Oil prices settle above US$81 a barrel as traders look to possible Fed steps to aid US economy
NEW YORK (AP) – Oil prices have settled above US$81 as traders weighed the effects of possible moves by the Federal Reserve to spur economic growth and as finance ministers in South Korea were expected to discuss currency market tensions. Benchmark crude for December delivery rose US$1.13 to settle at US$81.69 a barrel on the ...
Oil and gas up as global supply tightens
Paying the Price for an Economic Recovery. While the Fed tries to sell us the virtues of inflation, the poor consumers at the pump are getting soaked. As oil prices rise and French strikers strike, we see the national average retail gas price start to surge as the price increased to $2.834 a gallon, which ...
OIL FUTURES: Nymex Crude Retreats Following US Inventory Data
NEW YORK (Dow Jones)–Crude oil futures retreated from early gains Thursday, trading near flat as falling U.S. demand for crude and fuel trumped support from a weakening dollar. Light, sweet crude for November delivery recently traded 11 cents lower at $82.90 a barrel on the New York Mercantile Exchange after rising as high as $84.12 ...
OPEC Sees Slowing Ahead, But Expects Steady Output
EPAAn oil refinery close to the port town of Umm Quasar in Basra, southern Iraq. When the Organization of Petroleum Exporting Countries meets Thursday in Vienna for the first time in seven months, it will grapple with an overriding question: Can it continue to simultaneously enjoy the benefits of high levels of production and high ...
How Oil Drilling Works
by Craig Freudenrich, Ph.D. and Jonathan Strickland Inside this Article Introduction to How Oil Drilling Works Forming Oil Locating Oil Oil Drilling Preparation Oil Rig Systems The Oil Drilling Process See more » Testing for Oil Extracting Oil Offshore Oil Drilling Lots More Information See all Energy Production articles Nuclear Power Videos Oil Field Image Gallery Photo ...
