oil price

Bank Survey: Brexit May Stabilize Oil Recovery

A new survey of some of the largest investment banks should give market stakeholders hoping to see steady oil pricing above $50 per barrel through next year a sigh of relief in a post-Brexit world.

The Associated Press

No One Wants To Buy Electric Cars. Good.

No one wants to buy electric cars. Americans bought just 102,600 such vehicles in 2015, a 17 percent decline from the previous year, according to researcher Autodata. Nissan Motor Co. sold 43 percent fewer of its all-electric Leaf and General Motors

electric cars

Crude Oil Price Still Crashing Toward $25

Oil crashed by 6.3 percent to $30.98 on January 11, as the price of crude oil continues to fall toward the $25 break-even cost of production that Breitbart News predicted last March.

Oil jumpjack (Hasan Jamali / Associated Press)

Saudi Arabia Pumps Oil Before Iran Sanctions Lifted

Fearing a flood of crude oil when the Iran sanctions are lifted in the next few months, Saudi Arabia is pumping an extra 1.5 million barrels a day and signing long-term export contracts at low prices in a desperate effort to grab cash flow and avoid bankruptcy.

John Moore/AP

Alberta Oil Companies Hemorrhage Cash After NDP Tax Hike

President Obama is not alone in wielding governmental power to clamp down on carbon-emitting energy. While he weaponizes the Environmental Protection Agency to take on coal-powered energy, potentially shutting down hundreds of coal-fired power plants, Alberta’s new socialist NDP government is pushing ostensibly environmentally-minded policies against oil on shared premises of combating “climate change.”

The Suncor refinery in Edmonton, Canada seen here on June 17, 2015, has a capacity of refining 142,000 barrels of light oil a day, according to the company. It is run entirely on bitumen from the oil sands in Northern Alberta. AFP PHOTO/GEOFF ROBINS

U.S. Natural Gas Price Collapsing after EPA Says Fracking Safe

The global shock from the release of the U.S. Environmental Protection Agency (EPA) long-postponed draft report stating that hydraulic fracturing (fracking) has not had a “widespread, systemic impact on drinking waste” caused “cheap” natural gas prices to collapse another 16 percent.

JAE C. HONGAP