cp-keystone-pipeline

Keystone XL Isn’t a Threat to the Environment; It’s a Threat to Venezuela

News filtered down this week that, to try to help hanging-by-a-thread Louisiana senator Mary Landrieu, the outgoing Senate Democratic leadership may allow a vote on the Keystone XL pipeline during congress’s lame-duck session. This would give Landrieu one more chance to suck up to her voters by … once more screwing Venezuela. The same Landrieu who…

refineria-Amuay

Go bold, go big

While we were on break, a Reuters story came out about potential buyers going on a tour of our Citgo refineries – you know, the ones we are truly, definitely not going to sell. The tour got me thinking – if the government is going to go ahead with the advice of their French svengalis and…

oil1

Could the Saudi strategy be working?

Take it away, OilPrice.com … “Slumping oil prices are putting pressure on U.S. drillers. The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct.…

Crude Oil Brent

The predators from Riyadh

Yesterday, French economist Jean Tirole won the Nobel Prize in Economics for his work in understanding imperfect markets such as monopolies or oligopolies. Personally, Tirole has been a huge influence in how I view the world. His graduate-level textbook on Industrial Organization remains, to me, the standard in the field, even though it is getting…

Graph

Graph of the day

I’m not sure what the calculations were to get at this number, but the figure is significantly lower than Monaldi’s estimate of $200 as a breakeven price. Regardless, we’re far from where we would like to be.