The Dissident
Great documentary on Jamal Khashoggi. If you’re interested in another great story about how social media has shaken the foundations of modern life, check it out: Check out the documentary’s official website
Category: Global Oil
European EV Registrations Overtake Diesel for the First Time Ever in September 2020
From JATO: 2020 has been a turbulent year for the car market globally, and particularly in Europe. Although car registrations dropped by 29% during the first nine months of the year – to 8.54 million units –there are clear signs that Europe is all set for an electric revolution. In fact, according to JATO’s figures […]
Pandemic Helps Oil Cartel Consolidate Market
Kevin Crowley, David Wethe, and Sheela Tobben have an interesting story out on Bloomberg this weekend about how the pandemic has killed U.S. shale oil producers and consolidated control of global oil markets in the hands of OPEC: “In the future, certainly we believe OPEC will be the swing producer — really, totally in control of […]
Bank Directors Have Ties to Fossil Fuels, Bloomberg Finds
We’re just beginning to understand the myriad ways that incumbent oligopolies have preserved the status quo in global energy markets for so long. Here’s Bloomberg’s latest observation: The world’s largest banks have issued billions in loans to sustainable businesses and taken some steps to restrict funding for some of world’s worst polluters. But the greening […]
Battered oil markets face threat from electric vehicles
Matthew Green and Simon Jessop have a great story at Reuters about the future of the global oil market: Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but auto makers are betting the crisis will help accelerate an electric future. Reuters This is a little […]
Saudi Aramco, Most Profitable Company on Earth, Hits $2 Trillion Valuation
Oil has traditionally been the most profitable business in the world, and Saudi Aramco is the king of profitable oil companies with a production cost of just $2 a barrel. Remember when we were talking about falling commodity prices earlier? Yeah, that doesn’t really matter when your production costs are the best in the world. […]
Massive Unprecedented Fossil Fuel Writedown Sweeps Energy Sector
Christopher M. Matthews and Rebecca Elliott have a great report out on the news from Chevron yesterday: Chevron Corp. is writing down the value of its assets by more than $10 billion, a concession that in an age of abundant oil and gas some of its holdings won’t be profitable anytime soon. The Wall Street Journal Chevron […]
Saudi Aramco IPO Price Range Values Company at Up to $1.7 Trillion
We’ve been hearing about the Saudi Aramco IPO for years, and now we finally have a price range: $1.6 trillion to $1.7 trillion. For those who don’t know about Saudi Aramco, it’s the most profitable business on Earth: Saudi Arabia’s state owned oil company. At around $2 a barrel, they have the lowest oil production […]