Economy

The Permian Oil Boom Is Showing Signs of Overheating

The Permian Oil Boom Is Showing Signs of Overheating

Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower

At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in …

Source: Sweetcrudereport.com

Global Economic Slowdown Reducing Oil Demand

By Tyler Losier, Energy Reporter, Oil & Gas 360

Supply deficit quickly flipped to surplus: International Energy Agency data now shows 500,000 barrel per day global surplus for Q2 2019
Despite the OPEC+ supply cuts agreed upon earlier this month,

Higher Gasoline Costs Sent Consumer Price Index Soaring in April - 360

U.S. Midwest Floods to Weigh on Diesel Demand in Fall Harvest Season

From Reuters


A disappointing planting season due to massive flooding in the U.S. Midwest this spring is expected to have spillover effects on diesel demand during harvest season, analysts and traders said.

Heavy storms that lingered over the Midwest left …

Source: The Society of Petroleum Engineers

New Tax Breaks Planned for Mexico’s Indebted Pemex

From Reuters


The Mexican government will propose an additional tax reduction for heavily indebted state oil company Pemex [PEMEXF.UL] in the nation’s 2020 budget, President Andres Manuel Lopez Obrador said Thursday, the latest measure to strengthen the company.

Lopez Obrador …

U.S. Says Trade Talks Resuming as China Demands End to Tariffs

U.S. Says Trade Talks Resuming as China Demands End to Tariffs

From Bloomberg


Kudlow says Lighthizer, Mnuchin, Liu have been in contact, Beijing says existing duties must be removed to reach a deal

The Trump administration said trade talks with China are starting up again as Beijing reiterated that it’s essential …

Wall Street Retreats as Rate Cut Expectations Ease

Wall Street Retreats as Rate Cut Expectations Ease

From Reuters


U.S. stocks declined on Friday, as the S&P 500 retreated after closing at a record for three straight sessions, following an unexpectedly strong U.S. payrolls report that caused investors to rethink how dovish a turn the Federal Reserve …

July 5, 2019 - 6:45 am Closing Bell Story‎, Economy, Energy News, Finance
U.S. Proposes Tariffs on Another $4 Billion of EU Goods

U.S. Proposes Tariffs on Another $4 Billion of EU Goods

Boeing-Airbus subsidy dispute heats up

From the AJOT

The U.S. added new products from the European Union to potentially target with retaliatory tariffs in a long-running trans-Atlantic subsidy dispute between Boeing Co. and Airbus SE.

The U.S. Trade Representative’s office …

July 2, 2019 - 5:25 am Closing Bell Story‎, Economy, Energy News, Trade
Oil Execs say Bill C-69 Still So Flawed No Pipelines Will Be Built

Oil Execs say Bill C-69 Still So Flawed No Pipelines Will Be Built

Bill as is could kill investment – no future pipelines would be built

From the Calgary Herald

After it was announced Wednesday that the federal Liberal government would not accept all 188 amendments to the disastrous Impact Assessment Act, or …

Source: Federal Reserve Bank of Dallas

Dallas Fed: Oil Companies Need $50 per Barrel to Break Even

Average breakeven fell 4% over the past year
With the price of oil in a pretty constant state of volatility as of late, the breakeven point for crude is an important number to keep in mind.

According to the Federal

Big Oil is Investing Billions in Potentially Worthless Projects

Big Oil is Investing Billions in Potentially Worthless Projects

From Bloomberg Businessweek

By Mathew Carr


The top 10 energy companies are planning investments approaching $1 trillion by 2030, in everything from finding and tapping new fields to equipment ranging from drones to drilling rigs. If the oil and gas …

A Look at U.S.A.’s Energy States: Which Are the Best and Worst for Business?

A Look at U.S.A.’s Energy States: Which Are the Best and Worst for Business?

CEOs rank Texas at the top, California at the bottom

Chief Executive magazine has published its newest list of the best and worst states for business. Texas ranked Number One—again. California is Number 50—again.

In the executive summary of

May 16, 2019 - 1:09 pm Closing Bell Story‎, Economy, Jobs
Trade War Comes With an Unexpected Bonus: More Trade

Trade War Comes With an Unexpected Bonus: More Trade

From Bloomberg

A few days before Christmas, the container ship “SM Shanghai” was steaming toward California’s Port of Long Beach. Just ahead and coming to the end of an 11-day journey from China, the “Ever Lucent” was headed for the …

December 31, 2018 - 6:00 am Closing Bell Story‎, Economy
Source: HRW.org

German Recession Looming Over Nation’s Industrial Backbone

From American Journal of Transportation

More than half of Germany’s small and medium-sized enterprises think Europe’s biggest economy could contract next year, hobbled by slowing global growth, trade disputes and a stuttering auto sector.

Almost 53 percent of so-called “Mittelstand” …

December 31, 2018 - 6:00 am Closing Bell Story‎, Economy, Energy News, International
Non-Residential Construction Starts Pull Back, Construction Growth Rate Slows Considerably: Dodge

Non-Residential Construction Starts Pull Back, Construction Growth Rate Slows Considerably: Dodge

New Construction Starts in November Slip 7 Percent

December 28, 2018 - 6:00 am Closing Bell Story‎, Economy, Press Releases
U.S. Manufacturers Report Optimism Heading into 2019, but Tariff-Induced Costs, Fed Rate Hikes, Trade Tensions, and Dem Pledge to Roll Back Tax Cuts in New Congress Weigh on Optimism

U.S. Manufacturers Report Optimism Heading into 2019, but Tariff-Induced Costs, Fed Rate Hikes, Trade Tensions, and Dem Pledge to Roll Back Tax Cuts in New Congress Weigh on Optimism

From the Washington Times

American manufacturers think the future looks bright.

The GOP-led tax cuts and President Trump’s deregulation efforts are driving record-high optimism in the industry heading into 2019, findings that come amid significant volatility on Wall Street as …

December 28, 2018 - 6:00 am Closing Bell Story‎, Economy
Canadian Dollar Hits 18-Month Low

Canadian Dollar Hits 18-Month Low

From The Globe and Mail

The Canadian dollar was little changed against the greenback Thursday but hit a 1-1/2-year low earlier in the session and underperformed other G10 currencies, as investors worried that the slumping price of oil could hurt …

December 21, 2018 - 12:28 pm Canada, Closing Bell Story‎, Economy, Energy News, Finance