Circular economy (CE) principles are gaining momentum. Oftentimes used in conjunction or synonymously with CE is the term “sustainability.” However, although there is a relationship between sustainability and a CE, these two concepts are vastly distinct. 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
Saudi-UAE relations are in free fall. Should we be alarmed? No. These monarchies have a long history of bad blood and border disputes. This time, the breakdown turns out to be good for Iran. Continue Reading
A hefty tax on methane emissions is needed to push the US natural oil and gas industry to fix leaky pipes. Globally, America is now second only to Russia in methane emissions. Since methane’s warming potential is far worse than carbon dioxide, a minimum tax of $1,500 per ton emitted. Continue Reading
Much attention has focused on the pandemic’s impacts on energy demand and CO2 emissions; the impacts on global energy supply and trade are less well-understood but equally profound. Global energy supply saw the biggest drop on record, led (among countries) by the US (and among energy types) by oil. Trade in every fossil fuel fell even more sharply than supply amid the global disruption. Continue Reading
Today’s oil market contains not one, but two prisoner’s dilemmas: traditional OPEC+ policed by Saudi Arabia, and a new one with US shale producers, policed by their investors. This boosts the prize for cooperative behavior but also raises new risks. Continue Reading
The entry of U.S. natural gas into global markets significantly changed the rules of the game. In fact, the open, transparent, competitive dynamic of the U.S. natural gas marketplace is perhaps its most important export. We point to several tangible benefits that go beyond procurement cost. Continue Reading