When OPEC decided not to boost production despite record high oil prices, it signaled the dollar’s loss of dominance in international trade.
Steve Mufson, writing for the Washington Post, notes that while oil prices have been climbing in euros, Canadian dollars, and yen, only the dollar is showing record highs.
Crude oil is priced in dollars. [...]
I had an opportunity to help someone in the field who was using our software, so I took it. It was a remarkably pleasant day. The software fix took about five minutes, but I stayed most of the afternoon to be sure the Service Supervisor was comfortable using our software. Oh, and [...]
The Washington Post reports that the House of Representatives voted to rescind tax breaks for the five largest petroleum businesses and spend the money on alternative energy.
I actually feel some sentiment toward rescinding tax breaks for oil companies, since they got some breaks when oil was $9/bbl. Two problems: first, the tax break that is [...]
The Hill Blog has a video and transcript of an interview with Charles Drevna, president of the National Petrochemical and Refiners Association.
Charles Drevna: Right now we are mandated to supply a fuel in 2012 that doesn’t exist. The bill was passed in the hopes that this fuel would exist, but our policy is: before [...]
Mexico’s President Felipe Calderon is pondering allowing foreign investment and know-how to develop the state-owned petroleum reserves, reports (link dead) the Houston Chronicle.
The world is moving towards flat taxes and privatized economies just as the U.S. stands poised to out-socialize the Old World.
Pemex — which exports about 1.4 million barrels of crude a day to [...]
The first three pictures were taken almost by accident.
The oil fields I worked in Texas, Oklahoma, and Arkansas were described as having either 40- or 80-acre “spacing” — that is, that is the area that an oil or gas well was expected to drain. When I was told that Kern County, CA, had wells on [...]
The AP reports that the oil minister of Saudi Arabia told reporters that OPEC will raise production “when the market justifies it.”
This is pretty arrogant. OPEC, because of its nature as a group of government agencies controlling oil exploration, cannot respond to the market quickly. Participants in the oil market must wait until the next [...]
A CNet blogger reports that iRobot, maker of the Roomba as well as military robots, is looking to advance robots in oil exploration.
Exploration is dirty and dangerous. When I was in the field, I had to leave my wedding ring and watch off so that they wouldn’t get hooked on equipment and cost me a [...]
