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Cal on April 7th, 2015

US crude oil production increased during 2014 by 1.2 million barrels per day to 8.7 million, the largest increase since recordkeeping began in 1900. On a percentage basis, output in 2014 increased by 16.2%, the highest growth rate since 1940. Most of the increase during 2014 came from shale and other deposits in the states […]

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Cal on April 5th, 2015

New Zealand government scientists are looking at ways to extract natural gas frozen in ice beneath the seabed after finding an enormous deposit off the country’s east coast. A solid band of methane hydrates extending from the top of the South island to Poverty Bay in the North Island had been identified during a six-year […]

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Cal on March 23rd, 2015

Oil analysts seem pretty confident that a move towards higher crude oil prices will take place sometime in the second half of this year but they disagree as to whether this rebound will reach $100 a barrel or will stop short of that level, ie. below the price necessary to support the high cost of […]

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Cal on March 3rd, 2015

Coal consumption in China fell by 2.9% in 2014 to 3.9 billion metric tons. This was the first decline in coal consumption in that country in the past 14 years. The move came as crude oil and natural gas replace coal in a slowing economy. The issue of US crude oil storage capacity is receiving […]

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Cal on February 18th, 2015

The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing commercial volumes of either natural gas from shale formations (shale gas) or crude oil from tight formations (tight oil). The United States is by far the dominant producer of both shale gas and tight oil. Canada […]

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Cal on February 10th, 2015

The Australian state of South Australia announced it will appoint a royal commission to determine if it should be the first state in the country to generate electricity from nuclear power.  Despite harbouring 25% of the world’s uranium, there have never been any nuclear reactors in Australia. Global crude oil prices jumped from the mid-$40 […]

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Cal on January 26th, 2015

As the world price of crude oil continues to bound around in the $45 to $48 per barrel range, it was a big topic of discussion at the annual Davos economic summit in Switzerland last week.  The Executive Director of the International Energy Agency sees no quick recovery for the global economy or for oil […]

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Cal on January 12th, 2015

World crude oil prices remain under $50 a barrel with no changes in sight. OPEC continues to maintain that it will not meet again on production quotas until next June. OPEC output rose by 20,000 b/d in December. The Saudi Arabia maintained an average production of 9.6 million barrels per day during the month. Traders […]

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