Are Recent U.S. Crude Draws the Result of a Normal Seasonal Decline or a Delayed Effect of OPEC’s cut?
Crude stock draws are not out of the ordinary for this time of the year, but it appears that some OPEC members restricting supply has begun to bite the U.S. market.
Lawmakers are tackling AV issues such as federal preemption, safety standards, and exemptions for automakers, among other key concerns.
The possibility that Russia may soon own refineries in the U.S. if Venezuela’s PDVSA defaults on its loans from Rosneft has pushed the risks of foreign-owned energy assets in the U.S. into the spotlight. As of now, some 30 percent of U.S. refining capacity is owned by foreign companies.
Faltering U.S. gas production in 2016 was an aberration, a side effect of both low prices and the collapse in the oil market, which cut the output of associated gas. In the next five years, U.S. gas production will make up 40% of global supply growth.
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Global investment in auto-tech firms totaled $1.6 billion for the first half of 2017, more than double the same time last year.
Speeding up the process is good news for the industry in that there are plenty of untapped offshore reserves. However, many companies may choose to withhold capital investment given the current low-price environment and typical long-cycle investment in offshore production.
In the event that Venezuela defaults on its loan to Rosneft, the Russians would assume control of critical U.S. energy infrastructure.
Electricity and renewable investments fell modestly last year, but the lower price environment over the past three years has taken a particular toll on upstream oil and gas outlays.
North Dakota is looking to manage its resources and finances prudently to keep as much damage from oil price volatility at bay and develop longer-term sustainable growth through deeper economic diversification.