The interplay of market forces and political choices for 2021 is clearly at play in global energy markets this year. A growing focus on energy security is boosting coal and renewable consumption. How will this impact the ongoing recovery in global energy supply? Continue Reading
The Saudi leadership won a major concession from the U.S. while making a largely symbolic change in oil policy at last week’s OPEC+ meeting — and kept Russia on board with the plan. Consumers (and politicians) hoping for relief from rising prices at the pump are likely to be disappointed. Continue Reading
The Saudi leadership has repeatedly rebuffed requests from President Biden and leaders of oil-importing countries to accelerate production increases. But recent price differentials could signal an intent to quietly steer crude into Europe to replace Russian supplies. Continue Reading
Over the past year, shale oil producers have increased production by drawing down their large inventory of drilled-but-uncompleted wells, known by industry short-hand as DUCs. What is the latest update? Have most of the DUCs flown away by now? Continue Reading
Many climate policy approaches place a significant burden on lower-income families, and/or give benefits to wealthier families, leaving many lower-income voters to ask, “What’s in it for me and my family?” The good news is that political leaders have started to recognize that climate policy must approach fossil fuels and energy transition as an “AND”, not an “either/or”, and that the distributional impact of policy must also be addressed. Continue Reading
U.S. shale oil production is up since the COVID-driven collapse, according to official data, but the actual picture seems less clear when accounting for the productivity boost from drawing on DUCs, writes fellow Mark Finley. What does this mean going forward? Continue Reading
Current levels of rigs and wells drilled in the U.S. shale patch are well below levels needed to sustain current production. And yet, production has been sustained. So what’s been the secret? They’ve been feathering their beds with “DUCs down”: their large inventory of drilled-but-uncompleted wells. Continue Reading