The oil industry is facing its biggest squeeze in history
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By Ambrose Evans-Pritchard
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The greatest threat to Saudi Arabia and Russia over the next five years is a roaring bull market for crude oil, worse yet if prices spike to all-time highs of $US150.
Such an outcome is probably baked into the pie already. There is not enough supply coming on stream to replace the structural decline in old oil wells. The crunch will come before electric vehicles eat seriously into global fuel demand.
The oil industry is facing its biggest squeeze in history smh.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smh.com.au Daily Mail and Mail on Sunday newspapers.
Peak oil demand is coming – but first brace for an almighty supply crunch
The pandemic has distorted the immediate picture but not the underlying dynamics of the global crude market
17 February 2021 • 7:39pm
The greatest threat to Saudi Arabia and Russia over the next five years is a roaring bull market for crude oil, worse yet if prices spike to all-time highs of $150.
Such an outcome is probably baked into the pie already. There is not enough supply coming on stream to replace the structural decline in old oil wells. The crunch will come before electric vehicles eat seriously into global fuel demand.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Hess CEO Discusses Climate and Energy in CERAWeek Conversations Series
February 17, 2021 GMT
NEW YORK (BUSINESS WIRE) Feb 17, 2021
John Hess, CEO of Hess Corporation (NYSE: HES), shares his perspective on a range of energy issues in the latest edition of the CERAWeek Conversations series. In a discussion with IHS Markit Vice Chairman Daniel Yergin, Hess describes the need for climate and energy literacy in order to tackle the critical challenge of climate change, the vital importance of the oil and gas industry to the U.S. economy, and the company’s strategic focus. The video is available here.
Reheating memories of past Chili Cook Offs: Olmsted Dates and Data
OLMSTED FALLS, Ohio – Here in Olmsted, Sunday’s moniker was Chili Bowl.
The Olmsted Community Church normally has its Chili Cook Off around this time of year. Well, due to the virus, that did not occur.
It did create, however, a Souper Bowl of Caring. It is asking its congregation, and the community, if you will, to donate non-perishable food or monetary donations to this event. The food items will go to our Christians in Action local food pantry. Food donations may be dropped off through Feb. 14 from 10:30 a.m. to 3 p.m. at Olmsted Community Church, at the Olmsted Township police station and Olmsted Community Center. Monetary donations may be made by going to the church’s website.