Claims like “BP will file for Chapter 11 by July 9,” and that “the ‘real, untold story’ is another leak that is 5-7 miles away spewing 120,000 barrels per day” are ruining Matt Simmons’ credibility.
Full article: http://oilprice.com/Energy/Crude-Oil/Is-Matt-Simmons-Credible.html
Advocates of a smooth transition away from petroleum may be surprised by the consequences of huge swings in the cost of oil.
Full article at: http://oilprice.com/Alternative-Energy/Renewable-Energy/Why-Alternative-Energy-Will-Never-Pencil-Out.html
Bad news concerning the Gulf oil disaster continues to come from WMR’s federal government sources in the Federal Emergency Management Agency (FEMA) and the US Army Corps of Engineers. Emergency planners are dealing with a prospective “dead zone” within a 200 mile radius from the Deepwater Horizon disaster datum in the Gulf.
http://oilprice.com/Environment/Oil-Spills/Government-Insiders-Get-Ready-for-the-Gulf-Dead-Zone.html
The BP crisis in the Gulf of Mexico has rightfully been analysed (mostly) from the ecological perspective. People’s lives and livelihoods are in grave danger. But that focus has equally masked something very serious from a financial perspective, in my opinion, that could lead to an acceleration of the crisis brought about by the Lehman implosion.
Full article: http://oilprice.com/Energy/Energy-General/A-Bankrupt-BP-Worse-For-The-Financial-World-Than-Lehman-Brothers.html
President Obama and Secretary of Interior Ken Salazar, Secretary of Energy Steven Chu, and Defense Secretary Robert Gates were informed that BP would drill an unprecedented 35,000 feet well bore at the Macondo site off the coast of Louisiana.
Full article at: http://oilprice.com/Energy/Energy-General/Obama-Administration-Knew-About-Deepwater-Horizon-35000-Feet-Well-Bore.html
Crude oil futures held on to strong gains for the week in lackluster Friday trading, after higher-than-expected inventories earlier in the week threatened to cut short the rally.
After clawing its way back above $75 a barrel on Thursday for the first time in four weeks, the benchmark oil futures contract fell back again on Friday on news of an unexpected decline in retail sales in the U.S.
Full article at: http://oilprice.com/Energy/Oil-Prices/Oil-Price-Rally-Stumbles-Friday-on-Negative-Economic-News.html
Canadian oil sands will probably become the No. 1 source of U.S. crude oil imports this year, and could make up more than a third of the nation’s oil and refined product imports by 2030, according to a new study.
Full article at: http://oilprice.com/Energy/Crude-Oil/Canadas-Oil-Sands-Set-to-Become-Biggest-Source-of-U.S.-Oil-Imports-Report-Says.html
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