Could fossil fuels and Big Oil actually become ‘worthless’ within the next few decades, and what would this mean for the global economy? New research suggests as many as half of the world’s fossil fuel assets could become worthless by 2036 if the green energy transition goes ahead at the pace projected coming out of […]
Read More(Bloomberg) — Surging oil and natural gas prices are spurring production increases from West Texas to the Upper Great Plains that probably will lift output to levels not seen since the early days of the pandemic, according to Rystad Energy AS. U.S. shale-oil production is expected to reach 8.68 million barrels a day in December, […]
Read More(Bloomberg) — Oil and gas producer Occidental Petroleum Corp.’s move to hedge its output has been a roller coaster over the past two years. Occidental, one of the Permian Basin’s biggest producers, lost an estimated $339 million from its oil and gas hedges this year through Sept. 30, the latest quarterly filing showed. That includes […]
Read MoreThe impact of the global pandemic sometimes seems to have no end in sight – even though economic activity has been picking up enough this year to start raising a lot of questions about inflationary pressures, their impact on interest rates, and more. One of the sectors that has rallied strongly since November of last […]
Read MoreNearly 60% of S&P 500 companies have reported third-quarter 2021 earnings, and the energy sector has again emerged as a standout performer. According to the latest FactSet data, the Energy sector is reporting the second-largest positive (aggregate) difference between actual earnings and estimated earnings (+15.9%), behind only the Financial sector. Within this sector, Phillips 66 […]
Read MorePermian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. PBT $8.4300 0.3000 % 3.6900 Permian Basin Royalty Trust Sector : Oils-Energy Industry : Oil – US Royalty Trusts Signal Short Term Trend Long Term Trend BUY UP UP Day: 3.69% Wk: 1.37% Mo: […]
Read MoreRebounding U.S. oil demand, a slow recovery of domestic production, and extreme weather-related events have drawn many barrels this year out of the key U.S. crude hub at Cushing, Oklahoma. Crude oil stocks at Cushing—the delivery hub for the WTI Crude futures contract—have more than halved since April 2020, when the market was fretting about […]
Read More