RP Weekly Recap | February 14 – 18
Summary
According to a new study published in the Proceedings of the National Academy of Sciences, corn-based ethanol, which for years has been mixed in huge quantities into gasoline sold at U.S. pumps, is likely a much bigger contributor to global warming than straight gasoline. While the study contradicts previous research commissioned by the U.S. Department of Agriculture (USDA) showing ethanol and other biofuels to be relatively green, new findings prove ethanol is likely at least 24% more carbon-intensive than gasoline due to emissions resulting from land-use changes to grow corn, along with processing and combustion. Check out this story and more in this week’s recap of all things happening in oil and gas!
COVID-19 Updates
COVID-19 Statistics
- Number of Cases (Worldwide): 420,944,864 (up from 407,180,960 last week)
- Number of Cases (USA): 78,333,189 (up from 77,460,167 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- U.S. Corn-Based Ethanol Worse For The Climate Than Gasoline
- Gasoline Prices Just Hit An All-Time High In California
- BHP, Glencore To Return $11 Billion To Investors As Commodity Prices Soar
- U.S. DUC Count Drops 48% In Two Years
- ConocoPhillips to Weigh $1B Permian Sale
- U.S. Crude Inventories Continue To Decline
- Los Angeles Looks To Launch Massive Hydrogen Network
Global Market News
- IEA: Children’s Emissions 10 Times Lower Than Grandparents In Net-Zero 2050
- The Remarkable Grid Powering China’s Clean Energy Olympics
- IEA Pleas With OPEC+ For More Oil Supply, Again
- OPEC Sees No ‘Immediate Solution’ To High Oil Prices
- Climate Action Faces Reality Check In The Energy Crisis
- Workers Threaten To Close 200,000-Bpd Libyan Oil Export Terminal
- Oil Prices Fall As Iran Negotiator Says Deal Is “Closer Than Ever”
Employment Updates
- Employers Added 467K Jobs in January, Defying Expectations Amid Omicron Surge – the number was well above forecasts, which projected a loss of jobs because of a spike in coronavirus cases
United States Rig Count
- UP 10 from last week for a total of 645
- Up 62.5% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- Biofuels are increasing in popularity as they are championed as “renewable fuels” since they can be grown and manufactured much faster than a plant can be buried and converted into hydrocarbons. While today the emphasis lies in 2nd generation biofuels and algae sequestering, the history of biofuels extends further back than you might expect. Check out our latest Periodical to find out more!
- Curious about the U.S. Orphan Oil & Gas Wells Nationwide Elimination Program? Check out our coverage of the topic HERE!
- A New Basin Breakdown for the month of December is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- Episode Seventeen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Cary Stockdell, CEO of Stockdell Stringer Leadership Solutions!
- RARE PETRO is the tik talk of the town! Short-form content to educate both the public or industry professionals is available NOW! Check out our latest Tik Tok Video uncovering what Hollywood does not understand about a blowout.
- RARE PETRO and Rainmaker GBD collaborate on a monthly newsletter highlighting everything you need to know about the energy sector. This is a video interview with RARE PETRO’s Anthony McDaniels as he speaks on the biggest stories and dives a little bit deeper into supporting data. Welcome to the second edition of “Side Chat”.
- Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Reportto see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round.
- As Always, A New Monday Madness Podcast!
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