Articles on Oil

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Is trouble brewing in the North Sea? Jo Christian Oterhals

Why an $80 barrel of oil is bad

The dramatic and unexpected 20% fall in oil prices since mid-June has caused alarm in Scotland, the UK and indeed worldwide. Why did oil prices slump to a four-year low of US$84 (£52) per barrel this week…
Is the sun setting on West African oil? A platform in Limbe, Cameroon. VirginieVV

US fracking boom puts West African oil economies at risk

After the terrorist attacks of 9/11, the US made a point of diversifying its sources of oil to reduce dependence on the Middle East. It was a strategic move which promised a huge boost to West African…
Shooting the messenger? Lamido Sanusi. David Shankbone

Central bank independence meets resource curse in Nigeria

The suspension of governor Lamido Sanusi from the helm of the Central Bank of Nigeria (CBN) is important, and not just for for analysts of future Nigerian monetary and exchange policies. Sanusi’s case…
There’s been plenty pumped: how much more is there? Arne Hückelheim

Explainer: whatever happened to the threat of peak oil?

Despite the arguments that once raged and the considerable volumes written to advocate certain viewpoints and disparage others, interest in peak oil is at an all time low. Indeed some commentators have…
Motorists can expect higher petrol prices in 2014…and beyond. David Crosling/AAP

No petrol price reprieve for motorists this year

Australia’s cost of living is among the highest in the world, despite our low inflation rate. In this series we explore what consumers can expect from the big ticket items - petrol, power and groceries…
Will countries outside the US take on the risks of shale oil? Flickr/ Randy Udall

Shale oil: the boom heard around the world

The US is in the midst of an oil boom. Shale gas has grabbed much attention, and rightly so. But it is shale oil (a light, crude oil found in shale or tight sandstone, and also known also as tight oil…
There’s more oil down there, and it’s the regulator’s job to make sure it comes up. AP/PA

Compel firms to extract North Sea oil in the nation’s interest

For decades the UK has been accustomed to filling its coffers with the bounty from North Sea oil and gas, and the jobs and tax receipts it has brought. At one time exports helped balance the books and…
Oil and gas production is growing in the US, mainly thanks to unconventional production methods. EPA/Jim Lo Scalzo

Now largest oil and gas producer, will the US get extra clout?

A recent article in the Wall Street Journal (WSJ) reported: The U.S. is overtaking Russia as the world’s largest producer of oil and natural gas, a startling shift that is reshaping markets and eroding…
There’s plenty of oil, but at what price? arbyreed/Flickr

Peak oil is alive and well, and costing the earth

You might have heard that peak oil - the theory that one day crude oil production will stop increasing, even as demand grows - is dead. Shale oil production is surging in the US. The premiere peak oil…
Unrest in Syria has raised concerns about world oil supplies. potomo

How the Syrian unrest affects world markets

Prospective US and UK military action in Syria has created jitters in the financial and commodities markets around the world. Stock markets have experienced significant losses, whereas commodities and…
A missile submarine conducts tests. Official US Navy Imagery

History suggests intervention in Syria will be bad for business

Since last week’s gas attack on a Damascus suburb, the political class has been gripped by the idea that “something must be done.” Meanwhile Wall Street, already declining through early August, fell further…
Two years ago South Sudanese were partying as the country split from Sudan. Tim Freccia / Enough Project

Little cause for celebration on South Sudan’s birthday

The second anniversary of South Sudan’s independence is overshadowed by the release of the annual State Failure Index by the Fund for Peace, which ranks the country as the world’s fourth most failed state…
The offshore industry need not be so dangerous if safety is put first. PA

The oil industry has yet to learn lessons of Piper Alpha

The explosions and fire that completely destroyed the North Sea oil rig Piper Alpha and cost 167 workers their lives remains the world’s worst offshore oil disaster. Saturday, July 6, marks 25 years since…
Shell and BP in less competitive times. flikr/recursion_see_recursion

Oil, the marketing wolf pack, and EU price-fixing

When most of us think of cartels, we think of Colombian drug gangs rather than multi-national businesses. But not any more; if European regulators are to be believed, a cartel has been operating much closer…
The land under Coober Pedy is home to vast reserves of shale oil. Perhaps not $20 trillion worth though. edenink/Flickr.

Can shale oil fuel Australia?

Earlier this week, Linc Energy released two reports estimating the amount of oil in the Arckaringa Basin near Coober Pedy in South Australia. Independent reports from Gustavson Associates and DeGolyer…
If you don’t deal with road transport, you’re really not dealing with emissions. Rachel Wray

Oil’s well in the white paper’s version of future transport

Much of the recent debate over Australia’s new Energy White Paper deals with climate change, the planned growth of Australia’s coal and gas exports, and the future of electricity sector. And although when…

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