2019 May Have Been Peak Year For Oil  Demand, BP Trying to Pivot

2019 May Have Been Peak Year For Oil Demand, BP Trying to Pivot

Yesterday, the world’s leading oil producers, the Organization of Petroleum Exporting Countries (OPEC), projected a larger decrease in oil demand than was predicted earlier in the pandemic.  The Hill reported that OPEC predicts oil demand will drop by 9.46 million barrels per day (bpd) rather than 9.06 million bpd. 

Why This Matters:  Big oil and gas companies like BP may be trying to put a good face on the bleak prognosis for oil, while they try to remain sunny about gas.

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How Low Can It Go??  Oil Futures In Unprecedented Negative Territory

How Low Can It Go?? Oil Futures In Unprecedented Negative Territory

The oil markets on Monday plunged to their lowest price ever — meaning oil and gas suppliers are paying people to take the oil that would reach the market by the end of May (you read that right.)  At the end of the day, oil futures prices closed at negative $37.63, the lowest price since the New York Mercantile Exchange began trading them in 1983.

Why This Matters:  The oil and gas markets are subject to lots of ups and downs — but this was — that word again — unprecedented.

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We Need a Down-to-Earth Approach to Solve Our Problems

We Need a Down-to-Earth Approach to Solve Our Problems

We wrote earlier this week that President Trump issued an executive order establishing a policy that calls for the U.S. to mine and exploit the other resources like water on the moon.  As Axios explained, the order “directs the State Department to find international partners that are interested in collaborating with the U.S. on creating ‘sustainable operations’ related to […]

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