Author Archive: AEN Staff

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Coal states look for new ways to turn carbon into cash

Coal states look for new ways to turn carbon into cash

Coal states pouring millions into clean coal research Coal states are hoping to create new ways to turn carbon into money-making enterprises after renewables and natural gas have taken a bite out of their market share and the world is moving to reduce its dependence on coal. State governments where coal is a major part […]

Tesla in talks to build EVs in China, may partner with internet giant

Tesla in talks to build EVs in China, may partner with internet giant

Tesla hoping to avoid 25 per cent import tariff Tesla Inc is moving closer to establishing a manufacturing plant for its electric vehicles in China. The Palo Alto California-based company said on Thursday that it is in exploratory talks with the municipal government of Shanghai. According to Reuters, the company did not give a definite […]

Opinion: Oil market flashes warning about stock levels in 2018

Opinion: Oil market flashes warning about stock levels in 2018

Oil market sending strong message to Permian producers to curb drilling By John Kemp LONDON, June 22 (Reuters) – Oil traders have become increasingly doubtful that OPEC will manage to cut crude stocks down to the five-year average in 2018 and keep them there. Calendar spreads for Brent futures throughout the rest of 2017 and […]

Oil prices recover from 10-month lows, but crude glut still weighs

Oil prices recover from 10-month lows, but crude glut still weighs

Oil prices up after “pushed a bit too low”: Energy economist Oil prices rose on Thursday after dropping to 10-month lows on Wednesday, but market sentiment remains down due to the stubborn global crude supply glut that continues despite OPEC’s supply cut agreement. Brent crude futures ended the day 40 cents to $45.22/barrel, after falling […]

High costs may push away some Permian Basin investors

High costs may push away some Permian Basin investors

Permian Basin a victim of its own success The booming Permian Basin is the largest petroleum producing basin in the United States and has enjoyed a rush of capital since oil prices began to recover in February of last year. A number of exploration and production companies have flooded the Texas and New Mexico play […]

OPEC supply cut may go deeper according to Iran, other delegates skeptical

OPEC supply cut may go deeper according to Iran, other delegates skeptical

Oil hit seven-month low despite OPEC supply cut deal Iran is hinting that the Organization of the Petroleum Exporting Countries are considering altering the OPEC supply cut deal to make the cuts deeper after oil prices continued to fall on Wednesday. But, Iran says clarity is needed on the effect of the current reduced level […]

Dakota Access Pipeline keeps delivering oil during legal battle

Dakota Access Pipeline keeps delivering oil during legal battle

Additional review of environmental impact of Dakota Access Pipeline underway A judge has ordered the Dakota Access Pipeline will continue to transport oil even though authorities are currently conducting an additional environmental impact review. Last week in Washington, US District Court Judge James Boasberg ruled in favour of the Standing Rock Sioux and Cheyenne River […]

Tropical Storm Cindy forces closure of some Gulf of Mexico oil output, crew evacuations

Tropical Storm Cindy forces closure of some Gulf of Mexico oil output, crew evacuations

Death of child blamed on Tropical Storm Cindy One child is dead in the wake of Tropical Storm Cindy.  CBS News reports the 10-year old boy died after being struck by a log in a storm surge in the Gulf Coast community of Fort Morgan, Alabama on Wednesday. According the the National Hurricane Center (NHC), […]

Ford Focus production moves to China, company bets on low oil prices

Ford Focus production moves to China, company bets on low oil prices

Ford Focus production shift from Mexico to China called purely financial by company On Tuesday, Ford Motor Co announced it would move some production of its Ford Focus to China and import the vehicles to the US beginning in 2019. The move is seen as a long-term bet on low oil prices and stable US […]

US crude stocks, gasoline inventories fall: EIA

US crude stocks, gasoline inventories fall: EIA

US crude stocks down by 2.5 million barrels in week ending June 16 Data from the US Energy Information Administration showed US crude stocks and gasoline inventories fell last week, surprising analysts with a larger-than-anticipated draw. Crude stocks fell 2.5 million barrels in the week ending June 16.  Analysts had expected inventories to fall by […]