Major tech investment in renewable energy continues, freezing weather in the United States lifts oil prices up and Canada’s energy market sees another major consolidation announcement. Biweekly, we round up news and analysis about three things going on in the energy industry that we think you should ... READ MORE >
energy
3 things to know this week in energy: Drilling permit suspension pushback, Keystone XL and shale oil
There has been no shortage of energy industry news since President Joe Biden took office in January: last week, a group of Republican senators introduced a bill pushing back against the administration’s recent suspension of new drilling permits on federal lands; Biden’s move to revoke the Keystone XL ... READ MORE >
Economic recovery drives up raw material prices
Manufacturing activity during the pandemic tanked in April and May last year and has been inching toward recovery ever since. As manufacturing activity rebounds, companies are experiencing volatility not just in demand but also in raw material prices, which have been rising. Recovery in the automotive, ... READ MORE >
The Biden administration’s suspension on federal drilling permits: an explainer
In line with President Joe Biden’s campaign promises, the U.S. Department of the Interior last week under his new administration suspended approvals of new oil and gas drilling permits and leases across domestic federal lands for 60 days. Following the news, some producers experienced a drop in stock ... READ MORE >
CHART OF THE DAY: OPEC’s response to a drop in demand
The price of gas continued to decline in December, falling 15.5% lower than a year earlier. According to recent data from the Bureau of Labor Statistics, gas prices for consumers peaked in late 2018 as the global manufacturing recession took hold and as Americans began to feel the effects of a slowing ... READ MORE >
Oil prices show unprecedented volatility in 2020, and a path to recovery remains uncertain
The unprecedented imbalance the oil market has experienced for much of 2020 has garnered extraordinary responses from both oil producers and policymakers. Oil and gas companies have been forced to reposition themselves during the downturn in order to prepare for a comeback. Oil prices in the first half ... READ MORE >