All Posts Tagged With: "Oil Sands"
Investing in Africa: Opportunities Aplenty
With commodity prices through the roof, governments and businesses see investing in resource-rich Africa as an increasingly attractive proposition.
Chris Mayer explains in The Daily Reckoning why investing in Africa holds such potential for profit:
Africa increasingly is right in the middle of the global quest for natural resources. It has the highest ratio of light and sweet crude in the world – the best-quality stuff you can find. And most of its oil – some 83% – comes from large fields that produce at least 100 million barrels per day.
A Potential Oil Sands Boom You’ve Never Heard Of
There is a map of the world on my office wall. What I like about this map is that the mapmaker paid particular attention to getting the scale right.
Shell Boss: No Oil Shortage
Royal Dutch Shell Chief Executive has weighed in alongside OPEC, claiming that there is no shortage of physical oil supplies, and the crude oil prices should drop.
“As the post-Memorial Day hangover lingers, and $4 per gallon gasoline becomes a national reality, expect more and more daily energy prognostications,” says William Patalon III in Money Morning.
Number of OPEC Countries Shrinks as Indonesia Bows Out
The number of OPEC countries has dropped to 12 from 13 after Indonesia an OPEC member since 1962, has announced it will leave the oil producers’ consortium due falling oil production. This from Bloomberg:
Indonesia, the only OPEC member in Southeast Asia, will pull out of the group as aging fields and declining production force the region’s biggest economy to boost imports.
Oil Prices Near $133 After Nigerian Attack
Oil prices gained a dollar today to approach last week’s record high of $133 a barrel after Nigerian rebels blew up a pipeline belonging to Royal Dutch Shell, forcing it to cut production. This from the Financial Times:
Crude prices jumped on Monday in electronic trading as news of the attack broke, but analysts said the impact on prices spilled over into Tuesday, when exchanges on both side of the Atlantic re-opened after the long weekend.
Do Yourself a Favor and Dump These Stocks Immediately
One of the drug industry’s biggest superstars right now is a cancer drug called Sutent.
As Go the Oil Services, So Go the Tar Sands
In yesterday’s column, we heard the market’s wildly bullish opinion of the oil services sector. The all-time highs in those who drill, pump, and transport tell us that billions of dollars are flowing into oil service order books.
The Secret to Sky-High Oil Prices: Cheap Fuel
The price of oil, now nearing $130 a barrel, is being driven up by subsidies on cheap petrol and diesel, according to a report by Reuters.
China, India and other nations that subsidize cheap petrol and diesel may be even less willing to raise prices than they were six months ago, aiding crude’s ascent toward $130 even as demand deteriorates elsewhere.
While Indonesia appears set to raise prices as soon as this week, the world’s fastest-growing oil users show little inclination to tackle their subsidy schemes, as fighting food-fueled inflation has become their top priority.
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