The dive in crude oil prices continued Monday as yet another sell-off targeted the energy sector for a particularly big hit.
On Thursday, there will be a vote in Scotland to decide whether it will separate from the rest of the U.K., and the latest polls are too close to call.
For the government, Scottish independence would be a direct rejection of Prime Minister David Cameron.
With nuclear power bouncing back worldwide, and the number of global uranium mines declining, the signs are building that uranium prices are poised to head higher.
During the height of the Deepwater Horizon tragedy four years ago, I had my graduate students monitor the flow of oil from the sunken platform in the Gulf of Mexico.
Most of their work involved rather straightforward calculations based on undersea camera footage.
But from time to time, flimsy protoplasmic-like structures would float across the screen. The students called them “ghosts.”
One student even casually wondered, “What if the ghosts had caused all of this?”
With that, I walked over, checked some figures, and immediately called the U.S. Coast Guard contingent that was overseeing the data from the disaster.
Fast forward to today, and there have been some equally disquieting discoveries in the news of late.
So what do mysterious holes in the Siberian permafrost, hundreds of gas plumes off the East Coast of the United States, and our “ghosts” apparently have in common?
It seems to be icy methane hydrates, touted by some as the fuel of the future… Full Story
As everyone remains focused on the price of crude, the wider energy market is headed for a serious shortfall.
Natural gas prices, like any commodity, are affected by supply and demand – but weather plays a main role in this energy’s cost.
To hear some analysts tell it, geopolitics and the weather are exogenous events when it comes to energy prices. That is, somehow crude oil prices would operate “rationally” if it weren’t for either of them.
With its bombshell consolidation announcement on Sunday, Kinder Morgan Inc. (NYSE: KMI) has suddenly become the third-largest energy company in America.
More than 40 years ago, during another bout with a sputtering economy and a declining dollar, I made a remark that drew a fair amount of attention. At the time, I had my own radio talk show in Chicago.
Clearly, with oil at $100-plus per barrel, the energy experts were wrong. And, as it turns out, the classical economists were wrong about how energy affects the economy.