RP Weekly Recap | January 25 – 29
Most news headlines (including those at RARE PETRO) have focused on Joe Biden and his newly enacted Energy Policies, but nobody likes a broken record so let’s dive into something a little more bizarre, shall we? What do Elon Musk and Fossil Fuels all have in common? Well, a couple things now! Late last week SpaceX announced it had bought two former Valaris oil rigs to build floating launchpads for its Starship rocket, essentially building spaceports for future trips to Mars. Following up on that, Elon Musk sent out a Tweet to the Universe that he would award a $100 Million Prize to anyone who comes up with the “best carbon capture technology”. While many replied sarcastically, some have jumped aboard and started companies to fight climate change and maybe take home a hefty paycheck. Check out these stories and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 101,687,508 (up from 97,782,860 last week)
- Number of Cases (USA): 25,793,302 (up from 24,673,298 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Elon Musk Tweets He Is Giving $100 Million Toward A Prize For The “Best Carbon Capture Technology”
- Houston Company Could Provide Answer To Elon Musk’s $100 Million Question
- SpaceX Linked To Two Semisubmersibles That May Soon Become Deepwater Spaceports
- IRS Issues Final Rules on CCS Tax-Credits Regulations
- Oil-Producing Native American Tribe Seeks Exemption From Biden Drilling Pause
- Biden’s Oil and Gas Drilling Ban Doesn’t Apply To Tribal Lands
- Biden To Replace Federal Fleet With EVs
- GM Will Go All Electric By 2035
- Texas Regulator Slams BP For Flaring
- Judge Sets Date For Army Corps To Make Dakota Access Pipeline Decision
- An Oil Boom Hidden Within One Of America’s Biggest Cities**Interesting Read**
- 2021 Energy Sector Predictions **MUST READ**
Global Market News
- Europe Created More Energy From Renewables Than Fossil Fuels Last Year
- China Continues To Be Main Driver For Oil Demand in 2021
- Brief: U.S.-Canada Ties Get Complicated
- Gazprom Neft Mines Bitcoin as an Alternative to Flaring Unwanted Gas
- Game-Changing Iranian Pipeline Set To Launch In March
- Saudi Arabia Looks To Stop Using Crude For Domestic Power Generation
- Only 36% Of Russia’s Oil Reserves Are Profitable
- OPEC Withheld 1.3 Billion Barrels Of Oil To Prop Up Prices
- Argentina Struggles To Save Its Oil Boom
- Russian LNG Production Sees Modest Jump In 2020
- Chevron Seeks Easing Of Some U.S. Sanctions On Venezuela’s Oil
- Will Oman Hit Its Lofty Oil Output Goals?
- Gross Domestic Product Rose 4% in the Fourth Quarter – the increase was driven by a rise in exports, as well as business investment
United States Rig Count
- UP 6 from last week for a total of 384
- Down 51.3% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- Episode Ten of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Professor and the Department Head for the Petroleum Engineering Department at the Colorado School of Mines, heavily decorated SPE member and well published academic, Dr. Jennifer Miskimins!
- A NEW Basin Breakdown for the Month of December, and the last Basin Breakdown of 2020, is available now! Be sure to check out the articles HERE and podcast HERE!
- A new episode of the Periodical Podcast is available now! Be sure to check out our discussion on part one of our three part series covering President Joe Biden’s Energy Policy where we will dive into a general overview of his plan for a Clean Energy Revolution and his first executive order on climate change.
- This week’s Periodical begins a three part series investigating President Joe Biden’s Energy Policy and his plan for a Clean Energy Revolution and what that means for the global energy industry. This week, part one covers his Energy Plan and his first executive action on climate, re-joining the Paris Climate Agreement. Biden comes to power with a sense of urgency about climate change that is unmatched by any previous occupant of the White House, and he is installing people who share his views throughout the government. Biden’s plan for the future of energy in America sets the country down a new path – one aimed at transition and lasting change during his “Clean Energy Revolution” – that will have reaching implications both domestically and abroad.
- Episode 8 (Gamification) from our newest segment, the Modern Mobile Oilfield is available now! This series is a collaborative effort between world renowned author Geoffrey Cann and RP host Tavis Killian that will expand on topics covered in the book “Bits, Bytes, and Barrels”. This new segment is aimed at energy professionals at any level who are looking to better understand the future of a digital oilfield, and potentially implement these technologies into their company’s workflow. Be sure to watch or listen on all available platforms!
- As Always, A New Monday Madness Podcast!
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