Donald Trump has been a figure of controversy since his election campaign started in 2016. Now placing a renewed emphasis on fossil fuels over renewables, he has given the go ahead to construct a petroleum pipeline which will transport 108,000 barrels of gasoline/diesel per day when completed. The potential implications of this are uncertain, but it is likely to attract both support and criticism from a number of different groups. Here are some of the potential implications. Value of … [Read more...]
Oil has been going up – but for how long?
For the most part, 2016 was a miserable year in the oil and gas industry, as a massive oil glut fuelled by overproduction and a historically slow pace of growth in the Chinese economy conspired to drive oil prices to their lowest levels in 13 years. After touching $26 per barrel in February, however, oil prices have gone on an extended rally, moving above $50 in July on widespread sentiment that the commodity was oversold earlier in the year. Many investors also held the notion that global … [Read more...]
