Coal Demand Is Shifting To Asia

As Europe and America consume less coal, China gains greater influence over coal industry In its medium-term coal market report for 2016, IEA reports that global coal demand growth has stalled after more than a decade of 4 percent annual growth, with demand in 2016 to be below 2013 levels. Consumption decreased for the first time in 2015 as declines in the U.S. and China were not offset by growth elsewhere. China saw coal use decline in all major consuming sectors; electricity, steel, and cement. Coal generation dropped due to sluggish 0.5 percent…

Power Crisis Looms In Tajikistan

When the first snow fell in late November in Tajikistan, it caught many by surprise, including the country’s power providers. The last two years have accustomed Tajiks to unusually short winters, seemingly lulling authorities into a state of unpreparedness. The November cold snap stretched a decrepit electricity system to its thinnest point in several years. Temperatures dropped at one stage in November to several degrees below freezing — an abnormal state of affairs in a nation where people have, on rare occasions, greeted the New…

The Unsustainable $60 Oil Spike In 2017

An eventful year for oil is coming to an end. During the year, crude oil sank to depths unseen since 2003, but recovered nicely to above $52 per barrel by December. We saw OPEC hammer out a deal to cut production, another first in eight years, and non-OPEC nations like Russia also pitched in with their contribution to a production cut. Will 2017 also be another year of ups and downs, or does the picture for next year look much better for the oil bulls? Let’s analyze. EIA projections The latest Short-Term Energy Outlook released on December…

The U.S. Prepares To Sell Of Its Oil Reserves

The U.S. is beginning to wind down one of the core energy security policies of the past half century as the boom in domestic drilling eases concerns about supply. (Click to enlarge)The U.S. Department of Energy could begin to sell off some of its strategic petroleum reserve (SPR) as soon as January, the beginning of a multi-year process to shrink the nation’s stockpile of oil. Congress has authorized DOE to sell off $375.4 million worth of oil in its recent budget resolution. The DOE said that such a sale could be held in January 2017. To…

They’re Back: Foreign Central Banks Quietly Unleash A Treasury Buying Spree

According to the most recent TIC data, reported here last week, foreign Treasury holders and especially China, were dumping US paper like there’s no tomorrow. In fact, according to the latest available data as of the end of October, foreign central ban…

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How Did The Big Name Oil Bulls Fare This Year?

For those active in commodity investments, it’s clear that forecasting prices is more or less a guessing game. This is especially true for oil and particularly this year, which has seen extremely heightened market volatility. At one point, markets were swung by any word uttered by Saudi Arabia’s Oil Minister and his Russian counterpart, making it extremely difficult to glean with any degree of certainty where prices would head. Traders such as Dennis Gartman, Andy Hall, and Pierre Andurand have been among the names everyone quotes when…

Offshore Drillers Could Cut Costs By 30% With Standardized Equipment

The offshore oil industry could cut exploration costs by more than 30 percent if it would just agree to use standardized equipment, according to the International Marine Contractors Association (IMCA). When starting a new offshore drilling project, oil companies often contract out the work to engineering companies and oilfield services, and the sub-contractors often fabricate tailor-made parts and equipment. In-house fabrication is also common, necessarily leading to differences in equipment from project to project. Manufacturing unique equipment…

Offshore Drillers Could Cut Costs By 30% With Standardized Equipment

The offshore oil industry could cut exploration costs by more than 30 percent if it would just agree to use standardized equipment, according to the International Marine Contractors Association (IMCA). When starting a new offshore drilling project, oil companies often contract out the work to engineering companies and oilfield services, and the sub-contractors often fabricate tailor-made parts and equipment. In-house fabrication is also common, necessarily leading to differences in equipment from project to project. Manufacturing unique equipment…

Offshore Drillers Could Cut Costs By 30% With Standardized Equipment

The offshore oil industry could cut exploration costs by more than 30 percent if it would just agree to use standardized equipment, according to the International Marine Contractors Association (IMCA). When starting a new offshore drilling project, oil companies often contract out the work to engineering companies and oilfield services, and the sub-contractors often fabricate tailor-made parts and equipment. In-house fabrication is also common, necessarily leading to differences in equipment from project to project. Manufacturing unique equipment…

Could Santa’s Sleigh Go Electric?

Indeed, it’s time to give Santa’s reindeer a break, so this year, rumor has it, they’re just along for the ride as Santa goes electric, pleasing both the animal welfare watchdogs and environmentalists who would be keen to see this go down with a minimal carbon footprint. And what better year than 2016, when electric vehicle poster boy Elon Musk, of Tesla Motors Inc., is being wooed by President-elect Donald Trump. It would seem almost inevitable that Santa would go electric, now that electric vehicles are preparing to enter the…