Oil

Total to slash spending on US shale and North Sea projects

Wednesday, January 21, 2015
By Paul Martin

RT.com January 21, 2015 The French oil major is to deeply cut investment in US shale and dramatically reduce North Sea field expansion in the UK as the oil price plunges, its CEO said at the Davos forum. “We have fields on the US East Coast and my instructions have been pretty clear –... »

Kansas Officials Admit “Strong Correlation” Between Quakes & Fracking

Wednesday, January 21, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 01/21/2015 “If the government and the Kansas Corporation Commission care about the people of Kansas and the damages, they will order a moratorium,” exclaims Joe Spease, chairman of the Kansas Sierra Club’s fracking committee following a report from Kansas officials, who have been reluctant to link the mysterious earthquakes in... »

World Leaders Demand “Central Bank Of Oil”; IMF Warns Price Drop Is Permanent; OPEC Expects “Rebound To Normal Soon”

Wednesday, January 21, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 01/21/2015 Because nothing says ‘stability’ like a Central Bank in charge of things, the smartest richest men in the world have proclaimed in Davos this week that “we need a central bank of oil, like the central bank in financial world.” As long as they are not Swiss, of course.... »

12 Signs That The Economy Is Really Starting To Bleed Oil Patch Jobs

Wednesday, January 21, 2015
By Paul Martin

By Michael Snyder TheEconomicCollapseBlog.com January 20th, 2015 The gravy train is over for oil workers. All over North America, people that felt very secure about their jobs just a few weeks ago are now getting pink slips. There are even some people that I know personally that this has happened to. The economy is... »

Blinking Red Light: Big Trouble Ahead For Bakken Oil Production

Tuesday, January 20, 2015
By Paul Martin

By: Steve St. Angelo GoldSeek.com Tuesday, 20 January 2015 The glory days of the Great Bakken Oil Field are soon coming to an end. With the collapse of the price of West Texas Intermediate Crude, shale oil production from the Bakken is in big trouble. How much trouble? Well, if we understand how much... »

First Schlumberger Fires 9,000; Now Baker Hughes Unleashes 7,000 More Layoffs

Tuesday, January 20, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 01/20/2015 Another day, another unambiguously bad announcement from America’s bettered energy sector which are bolting down ahead of the crude storm, and firing thousands. Last week it was Schlumberger which announced it would fire 9000, today it is Baker Hughes which just warned it too will hand out about 7000... »

Yemeni Government Admits It Has Lost Control Of Nation Amid “Attempted Coup”

Monday, January 19, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 01/19/2015 In what Yemen’s information minister described as an “attempted coup” Shia Houthi rebels (backed by Hizbollah and Iran) have surrounded the Yemeni Presidential Palace putting them, as The Telegraph reports, in direct confrontation with al-Qaeda and the Yemen government. Amid hopes of a compromise deal or cease-fire in the... »

“Next Time Around The Feds Are Going To Have To Confiscate Stuff”

Monday, January 19, 2015
By Paul Martin

by James H. Kunstler ZeroHedge.com 01/19/2015 Events are moving faster than brains now. Isn’t it marvelous that gasoline at the pump is a buck cheaper than it was a year ago? A lot of short-sighted idiots are celebrating, unaware that the low oil price is destroying the capacity to deliver future oil at any... »

Iran OK With $25 Oil As Iraq Pumps Crude At Record Pace

Monday, January 19, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 01/19/2015 The precarious “game theory” equilibrium that worked for decades while OPEC was still a functioning cartel is unwinding before everyone’s eyes. Just as Saudi Arabia accurately anticipated, the lower the price of crude goes, the more both OPEC members and their non-OPEC peers (especially shale companies funded by hundreds... »

The PunchLine: “The Oil Crash Is No Small Matter…Repurcussions Will Be Extensive”

Sunday, January 18, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 01/18/2015 What a way to start the year. The crash in oil prices is no small matter. The previous down sweep in energy prices occurred in the midst of the financial crash 0f 2008 and Great Recession. Oil prices soon reversed afterwards and climbed back to dizzying heights, even as... »

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