Oil

Goldman Sachs Predicting $45 Oil By October

Wednesday, May 20, 2015
By Paul Martin

By James Stafford OilPrice.com Tue, 19 May 2015 Could oil prices be in for yet another decline? Oil prices have rebounded with surprising speed in recent weeks, with WTI prices bouncing by more than a third from March lows. There are good reasons for this. Rig counts are down by nearly 1,000 (or nearly... »

Texas officially prohibits cities from banning fracking

Tuesday, May 19, 2015
By Paul Martin

RT.com May 19, 2015 A new Texas law signed by Republican Governor Greg Abbott prohibits cities and towns from imposing local ordinances to prevent fracking and other potentially environmentally harmful oil and natural gas activities. In debating the law, Texas lawmakers emphasized the state’s successful development of oil and gas for more than 100... »

Oil Prices Will Fall: A Lesson In Gravity

Tuesday, May 19, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 05/19/2015 Our present situation is like that of the cartoon character Wile E. Coyote. The oil price collapse is not over yet. It is more likely that the Brent price could fall back into the mid-$50 range than that it will continue to rise toward $70 per barrel. That is... »

Saudi Arabia Continues To Turn Screws On U.S. Shale

Wednesday, May 13, 2015
By Paul Martin

By James Stafford OilPrice.com Tue, 12 May 2015 Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC’s latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month’s total of 10.29... »

Siemens to Cut Another 4,500 Jobs Amid Oil Prices Downturn

Thursday, May 7, 2015
By Paul Martin

SputnikNews.com 07.05.2015 Germany-based Siemens AG will reduce overhead costs by 1 billion euro ($1.1 billion) and cut another 4,500 jobs worldwide in 2015. MOSCOW (Sputnik) — Germany-based Siemens AG announced an intention to cut another 4,500 workplaces to reach targets set for the year amid difficult environment in the global energy market, the company... »

The Texas Job Recession Is Now Literally “Off The Chart”

Thursday, May 7, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 05/07/2015 The paradoxical, utterly nonsensical “data” releases continue. On one hand, the government’s Department of Labor reported earlier today that in the past week just 265K people were laid off: the lowest number since early 2000. On the other, private data aggregator Challenger reported that in April, there were a... »

Shale Stocks Slammed As Crude Cracks Back Below $60

Thursday, May 7, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 05/07/2015 But just two days ago everything was awesome after the biggest inventory draw since 2014: Einhorn didn’t know what he was talking about, the energy sector’s 28x Fwd P/E was ‘fine’ and oil prices were on their way back to levels that save the US Shale industry… now, not... »

Gerald Celente – We Are About To See Total Panic Engulf The World

Wednesday, May 6, 2015
By Paul Martin

KingWorldNews.com May 06, 2015 With crude oil surging and the dollar falling, today the top trends forecaster in the world warned King World News that we are about to see total panic engulf the world. Recently we have heard many ominous warnings issued from top people across the globe. Maybe the end really is... »

Massive Fire Rages After Another Buffett-Owned Oiltrain Derails In North Dakota, Town Evacuated

Wednesday, May 6, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 05/06/2015 Exactly two months after the latest Warren Buffett-owned BNSF train derailed near the spot where the Galena river meets the Mississippi, resulting in a huge fire and the evacuation of all homes in a one mile radius, moments ago another of Buffett’s BNSF oil trains derailed, this time near... »

US Shale Sector Crashes After David Einhorn Repeats What Everyone Knows Already…””Either way the frackers are fracked.”

Monday, May 4, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 05/04/2015 Greenlight’s David Einhorn has come out swinging at the Fed-fueled fracking frenzy and, after pointing out facts that are extremely widely known, and have been explained innumerable times here, sent Shale stocks tumbling… led by the so-called “MotherFracker” – Pioneer Natural Resources… Einhorn concludes, “Either way the frackers are... »

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