True Energy Independence Won’t Come From Oil
American energy independence was a hot topic towards the tail-end of 2019 before the global coronavirus pandemic, but the oil price war threw a monkey wrench in the works. Depending Continue Reading
‘Nowhere to Hide’ as Unemployment Permeates the Economy
Even as political leaders wrangle over how and when to restart the American economy, the coronavirus pandemic’s devastation became more evident Thursday with more than 5.2 million workers added to Continue Reading
US home construction collapsed 22.3% in March
U.S. home-building activity collapsed in March as the coronavirus spread, with housing starts tumbling 22.3% from a month ago. The Commerce Department said Thursday that groundbreakings occurred last month at Continue Reading
US job losses mount as economic pain deepens worldwide
The ranks of America’s unemployed swelled toward Great Depression-era levels Thursday in an unprecedented collapse that intensified the push-pull from the White House on down over how and when to Continue Reading
US judge cancels permit for Keystone XL pipeline from Canada
A U.S. judge canceled a key permit Wednesday for the Keystone XL oil pipeline that’s expected to stretch from Canada to Nebraska, another setback for the disputed project that got Continue Reading
The Golden Age of Russian Oil Nears an End
HIGHLIGHTS In the next 10-20 years, Russian oil will become more expensive as extraction from less accessible basins becomes necessary to maintain current export levels. Internal inefficiencies within Russia’s oil Continue Reading
Russia’s Oil Revenues Tank Despite Historic OPEC Deal
Due to the oil price crash and the nature of Russia’s tax system, the budget of the Russian Federation is set to suffer from low oil revenues despite Sunday’s OPEC+ Continue Reading
Fearing virus, some Chinese in Russia self-isolate, many go home
As the coronavirus spread in Russia, a group of 500 Chinese residents of Khabarovsk city in the Far East decided to lock themselves inside an apartment block, imposing a regime Continue Reading
Crude oil futures rebound after touching 18-year low, but bearish outlook lingers
Crude oil futures rebounded in mid-morning trade in Asia Thursday, after front-month WTI sank overnight to settle at an 18-year low on Wednesday. Nevertheless, the outlook remains bearish amid a Continue Reading
Oil Holds Near 18-Year Low as Demand Shock Outweighs Output Cuts
Oil was anchored near $20 a barrel as concerns over virus-led demand destruction outweighed an agreement by the world’s biggest producers to curb supply. Futures rose Thursday but remained near their lowest Continue Reading