Category: Big Oil

By on August 23, 2015

Entrance_OPEC_Headquarter_Vienna

Iran’s oil minister has said that an emergency OPEC meeting may be necessary to stem the tide of slumping worldwide oil prices, Reuters is reporting. Algeria has also called for an emergency meeting.

A barrel of crude oil slid to its lowest price last week of around $40, the lowest in more than six years. Record low gas prices could closely follow, which would help American drivers and car buyers, however the broader economic impact may be tougher to discern. Worldwide markets sank on Friday, largely on fears that China would slow its economic growth and instability in Greece could hamper European economies.

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By on August 21, 2015

Ford Mustang Receiving Gas Circa April 2015

Break out the champagne and 7-liter engines. Have one on us, alright?

The Wall Street Journal and Reuters are reporting that despite a mild increase in crude, oil is hovering around $40 a barrel and it’s expected to further dip in coming months to a six-year low on a global glut of oil.

The national average for a gallon of gas could drop to as low as $2, Green Car Reports says, which would be the cheapest its been since January, and could approach historical lows from 2008.

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By on June 1, 2015

Shell Station In Connecticut Circa August 2014

Starting Monday, your local Shell station will be offering a new grade of fuel said to increase engine life and boost efficiency, but at a price.

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By on May 26, 2015

Sergeant Major Oil Well - Arnegard, North Dakota Circa July 2013

Despite OPEC’s desire to keep its stranglehold on the market, U.S. shale oil production looks to rise again amid a strengthening dollar.

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By on May 22, 2015

Ford Mustang Receiving Gas Circa April 2015

OPEC is doubling down on shoving shale off a cliff, continuing the trend of low fuel prices through the fall in so doing, Memorial Day Weekend aside.

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By on May 18, 2015

Entrance_OPEC_Headquarter_Vienna

Those hoping for a return to $100 per barrel of oil are in for a long wait, as OPEC says oil will remain below the price point through the 2020s.

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By on May 13, 2015

PetroChina-Station

Those hoping to make it big on oil commodities would do well to bet against the bulls on parade, as China won’t be around to keep prices afloat this time.

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By on May 6, 2015

Rachel Notley, Alberta NDP Leader

Last night, it became official: Alberta, the largest producer of oil in Canada, ended the 40 year reign of the Progressive Conservatives in favor of the New Democratic Party (NDP), a democratic socialist party.

This could mean big changes in the energy sector, from oil patch to gas pump.

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By on May 5, 2015

Ali Al-Naimi

How long will Saudi Arabia allow oil prices to drop as the country’s production remains unchanged? Only Allah knows the answer.

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By on April 21, 2015

Fuel Price Circa Mid-December 2014

After a slight decline during Easter, gas prices are once again climbing back up as crude oil does the same.

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By on December 1, 2014

Gas Prices Circa December 2014

Is your wallet feeling heavier these days, despite all of the blackened Thanksgivings and cybernetic Mondays meant to liberate you from your money? It’s about to become more so, thanks to an early Christmas present from OPEC.

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By on October 28, 2014

Ethanol Pump

In less than a week, the B&B will head out to the polls to decide the direction the United States will take for the next two years.

Big Ethanol, too, is interested in the direction taken.

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By on June 16, 2014

photo2-505x600

Global oil prices are on the rise as the crisis in Iraq contributes to market instability. Large chunks of Iraq’s oil production infrastructure have fallen under militant control, leading to a sharp drop in output. Meanwhile, Canadian officials are upset with the Obama administration’s handling of the Keystone pipeline. They contend that the inaction on Keystone is keeping millions of barrels of Alberta crude from reaching more profitable markets.

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By on December 20, 2013

2014 Chevrolet Corvette Stingray

The green warriors who hoped EVs and hybrids would be the dominate force on the highways of America may need to wait a bit longer: the United States Department of Energy predicts gasoline will be the fuel of a generation until at least 2040.

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By on October 21, 2013

Early 1970s Chevrolet Camaro Warning Others of No Gas in Portland Circa 1973

Forty years ago this month, the Organization of Arab Petroleum Exporting Countries (consisting of OPEC’s Arab members plus Egypt, Syria and Tunisia) began an oil embargo that would last through March of 1974.

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