Crude oil production in October from seven major US shale plays is expected to drop 80,000 b/d to 5.21 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR).
Porsche is jumping into the electric car business. The German sports car company has announced its all-electric Mission E sports car. The concept vehicle, which will be on sale within five years, boasts a 600 horsepower motor, a range of more than 300 miles, and a recharging time of under 15 minutes.
As part of the climate warming trend globally, on Thursday a federal agency is set to announce the latest worldwide figures that are likely to show that it was officially the hottest summer ever recorded on the planet, and the hottest first eight months of the year to date.
While the massive Bakken oil boom drew hordes of job seekers and international attention to the remote prairies of North Dakota and Montana in recent years, it’s turned into a money loser for most cities and counties in the region.
If you believe all the recent stories about how Saudi Arabia is losing the price war it started against U.S. tight oil producers, the new Oil Market Report from the International Energy Agency offers a reality check. The Saudis are winning, though they’re paying a heavy price for it.
There could be over 31,000 reservations, but for various reasons it seems that over 4,000 Model X reservation holders cancelled (perhaps due to Model S conversions or too long a wait, as the Model X hasn’t exactly been racing into production).
American companies have disclosed at least 86,405 job cuts directly attributed to falling oil prices since June 2014.
Goldman lowered its forecast for 2016 WTI to $45 from $57 while allowing “the possibility” of $20 oil. Naturally, that lower number is what made headlines: business as usual isn’t news, major change is.
Since May, Islamic State fighters have been chipping away at the Iraqi government’s control in the city of Baiji, site of one of Iraq’s major oil refineries. Now it seems possible that the empty city and the shuttered refinery could fall.
Researchers in Australia, home of Shiraz, say grape waste could be turned into a competitive biofuel.
