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Does The U.S. Lead The World In Carbon Emissions Reduction?

November 8, 2017 Robert Rapier 0

In a recent interview with Fox News, Environmental Protection Agency Administrator Scott Pruitt claimed: “We are leading the nation — excuse me — the world with respect to our CO2 footprint in reductions.” The Washington Post fact-checked this claim and rated it “Three Pinocchios,” which means they rate the claim mostly false. They further wrote that Pruitt’s usage of data appeared to be a “deliberate effort to mislead the public.” I agree that this is a nuanced issue, but the…

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Has The Bear Market In Oil Finally Ended?

October 9, 2017 Robert Rapier 0

Following the 17-month bear market that ended in March 2009, one of the longest-running bull markets in U.S. history began. The current bull market is the second longest streak on record without a 20% drop in the S&P 500. But the performance across the S&P 500 sectors has been uneven. When oil prices collapsed in the second half of 2014, the energy markets entered a bear market even as the broader markets continued to prosper. Although the energy sector rebounded in 2016, the fundamental reasons that led to the energy bear market hadn’t…

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China’s Oil Demand Is Far Ahead Of Last Year’s Pace

October 4, 2017 Robert Rapier 0

OPEC recently released its Monthly Oil Market Report which covers the global oil supply and demand picture through July. OPEC crude oil production decreased by 79,000 BPD in August to average 32.8 million BPD. This marks the first OPEC production decline since April and was primarily driven by sizable outages in Libya. The cartel revised global oil demand growth for 2017 upward by 50,000 barrels per day (BPD) to 1.42 million BPD. The group reports strong growth from the OECD Americas, Europe, and China. Global oil demand for 2018 is expected…

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Harvey’s Long-Term Impact On Oil Markets

September 5, 2017 Robert Rapier 0

The tropical storm formerly known as Hurricane Harvey continues to dump copious amounts of rain on the Houston area. As a former Houston resident who lived there during the massive flooding from Tropical Storm Allison, I don’t think the city has ever seen anything like what it’s currently experiencing. Houston is the central hub for the energy industry in the U.S. It is important for oil and refined product imports and exports, it is an important storage area for oil and refined products, and much of the Strategic Petroleum Reserve…

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