Monday, March 13, 2023 the Biden administration announced plans of approval for the Willow oil and gas drilling project in Alaska proposed by ConocoPhillips. The $7 billion project which is estimated to yield 600 million bbls of oil, is located in a 23 million acre area of Alaska’s North Slope. ConocoPhillips touts the $17 billion […]Read More
Russia Pushes Back, Combatting Oil Price Caps.
Russian President Vladimir Putin signed a decree on Tuesday banning the supply of crude oil and oil products to those who abide by the western cap of $60 / bbl. The decree, which includes a clause allowing Putin to overrule in certain circumstances, was a combative measure in the face of the West’s oil price […]Read More
Energy Demand & Security
The recent OPEC+ decision to lower production targets by 2 million barrels per day has caused the cartel to come under added scrutiny for further reducing oil supplies within an already tight market where the energy demand is high. While frustration is evident for increased revenues, Russia will enjoy amid sanctions, there are conflicting views […]Read More
Political Intervention on Energy Markets
German Chancellor Olaf Scholz plans to implement a price cap to assist consumers and industry with rising costs, following broader plans from the European Union to do the same. Following the chaos of reduced Russian supplies to the region, there has been increasing pressures for intervention in the energy markets to avoid a greater recessionary […]Read More