Michael Giberson A short Associated Press item from last week provides a perfect illustration of the near-meaninglessness of the daily post-market story interpreting price moments. Natural gas prices tumbled yesterday after the government reported the United States is using so little that it has more in storage now than at any other time on record. …
The Future of Natural Gas Prices: a View from October 2009 Read More »
Lynne Kiesling From a good article in today’s New York Times: 2009 is turning out to be a bumper year for new oil discoveries; new oil discoveries always occur, but this year has been unusually fruitful. This quote from the article illustrates the important dynamic intertemporal incentives that price signals provide: These discoveries, spanning five …
Price Signals and Free Markets Lead to Oil Exploration: Who’d a Thunk It? Read More »
Michael Giberson Joe Romm, at Climate Progress, offers a public wager to Michael Lynch, of the recent NYT op-ed opposing peak oil. Romm singles out this line from Lynch’s piece: Oil remains abundant, and the price will likely come down closer to the historical level of $30 a barrel as new supplies come forward…. And …
Joe Romm to Michael Lynch on Peak Oil: Wanna Bet? Read More »
Michael Giberson Another sign of change in the North American natural gas industry, the Wall Street Journal reports Apache Corp. has agreed to supply gas to the Kitimat LNG terminal in British Columbia for export into the Asian market. The Kitimat facility was initially conceived of as an import terminal to tap Middle Eastern and …
Import? Export? Which Way for Lng in North America? Read More »
Michael Giberson From the Globe and Mail: Last year, the continental U.S. saw its natural gas production grow by 10 per cent to 55 billion cubic feet a day, powered by huge production increases from shale gas plays like the Marcellus, Haynesville in Louisiana and Texas’s Barnett field. In Canada, gas production actually declined by …
The Natural Gas Industry is Adapting to Changing Conditions Read More »
Michael Giberson Reuters reports from Moscow: MOSCOW — The world’s top gas exporting nations will set up a formal organization at a December summit in Moscow, a Russian official said on Wednesday, but denied the new body will seek to copy OPEC’s production quotas. “No one is planning to regulate gas production volumes. It is …
Any Reason to Fear an International Gas Producers Cartel? Read More »
Michael Giberson Around the web, stories about natural gas vehicles are bursting out all over (maybe prompted by this promotional effort which aims to increase the number of CNG vehicles). Newsweek offers a reporter’s trip test-driving a CNG car (a Honda GX) with her children, traveling from L.A. to San Diego and up to Oakland. …
What a fascinating juxtaposition of articles on oil and politics today. In the National Review online, Doug Bandow writes about the political aspects of the US-Saudi relationship and the oil supply. Bandow points out some of the most important economic aspects of technological change, economic dynamism in the oil industry, and a chillier relationship with …
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