
FROM THE OIL PATCH
IEA: OECD Europe gas demand fell by record level in 2022-23 heating season
Natural gas consumption in OECD Europe fell by an estimated 16%, or 55 billion cu m, year-on-year during the 2022-23 heating season–its steepest drop in absolute terms for any winter season on record, according to IEA data. Natural gas consumption in OECD Europe fell by an estimated 16%, or 55 billion cu m (bcm), year-on-year (y-o-y) during the 2022-23 heating season (October through March) – its steepest drop in absolute terms for any winter season on record, according to data from the International Energy Agency (IEA). “High gas prices continued to weigh on gas use in industry, while milder weather
Taking a Philosophical Stance in Justifying Fossil Fuel Use
The fossil fuel guilt trip laid upon the public leaves many feeling insecure and questioning their dependency on oil and gas. There seems to be no end to the continuous debate. It looms in the news and the fabric of all sources of communication. One individual has countered the attack with his message of support and justification. Instead of citing statistics and fiscal analysis, Alex Epstein, philosopher and author, presents a moral approach supporting fossil fuel use. Utilizing a robust arsenal of communication methods, Epstein counters those who sell the world on climate change, and claim fossil fuels will lead
OPEC cuts, and oil prices spike; will U.S. respond by producing more?
When OPEC announced that its members would be cutting oil production by more than a million barrels daily, oil prices immediately jumped 5%. A week later, U.S. gas prices were up more than a dime a gallon, and the summer driving season is likely to send prices at the pump
Opinion: Canada is the solution to a global energy crisis
The responsible energy we produce in Canada makes the world better. Energy provides the most basic human needs, from food production to heat and power for our homes. The world is an increasingly complicated place with political conflicts and a growing energy crisis. Conflict is occurring readily in countries that
Don’t write off the Permian just yet
A flat rig count, persistent cost pressures, supply-chain snags, problems with well productivity and concern that the best acreage has already been tapped, have combined to cast a shadow over prospects for the prolific Permian basin of west Texas and southeastern New Mexico. But while a growing consensus among oil
Predictions Of An Oil And Gas Decline Are Overblown
The end of oil and gas is nigh. In a decade or so, demand will begin to ebb as electrification takes giant strides toward a cleaner, more reliable energy system. This is the leitmotif repeated by proponents of the energy transition from fossil fuels to low-carbon energy sources such as
CRUDE OIL WEEKLY UPDATE (Week Ending 05-19-23)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending May 12, 2023, which was 245
NATURAL GAS WEEKLY UPDATE (Week Ending 05-19-23)
In the News (EIA):U.S. associated natural gas production will likely grow through 2050:In our Annual Energy Outlook 2023 (AEO2023), natural gas produced from wells targeting
Zekelman Industries Steel Snapshot for May 2023
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts May HR Coil $1,125 down $50 from April. Import offers have significantly increased due to
Preston Pipe Report – May 2023
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Last month we commented about the supply situation for large diameter line pipe in the
Pipe Logix Line Pipe Report – April 2023
(by Rye Druzin, www.pipe-logix.com) Line pipe prices declined by 0.6% in April with domestic prices down by 0.3% and import prices down by 1%. This
AISI Press Release on Latest U.S. Imports of Steel Products – May 2023
(American Iron and Steel Institute, www.steel.org – (05-05-23) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron