RP Weekly Recap | January 10 – 14

Summary

Much like in-person gatherings, greenhouse gases rebounded in a big way last year. According to a new report, as COVID restrictions eased in 2021, U.S. greenhouse gas emissions jumped 6.2%. That represents a sharp U-turn from the days of 2020 when emissions plunged 10% for their largest yearly drop on record. While analysts were anticipating a bounce-back in emissions in 2021, the data provides a stark reminder that the U.S. is falling behind its climate targets. 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): 322,242,878 (up from 301,309,275 last week)
• Number of Cases (USA): 64,533,959 (up from 58,794,313 last week)
• Statistics courtesy of Johns Hopkins

Financial & Economic Updates

U.S. Oil Market News

• U.S. Greenhouse Emissions Rose in 6.2% 2021, Making it Unlikely Climate Targets Will Be Met 
• U.S. Emissions Jumped In 2021 As Coal Power Generation Surged
• Biden May Cut 2022 Biofuel Blending Mandates: Report
• Biden Administration To Reduce Oil-Drilling Lease Area In Alaska
• Cold Weather In North Dakota And Alberta Forces Oil Producers To Curb Production
• Higher Natural Gas Prices Push Up U.S. Wholesale Electricity Prices
• API Shocks With Very Large Gasoline Build
• EIA Sees Oil Prices Dropping In 2022, 2023
• U.S. Oil Production To Hit New Record In 2023
• Coal To Make Up 85% Of U.S. Power Capacity Retirements In 2022
• The U.S. Spent $1.1B On Failed Carbon Capture Projects In A Decade
• Illinois Court Vacates Approval of Dakota Access Pipeline Capacity Expansion
• Falcon Minerals Agrees to $1.9 Billion All-stock Merger with Desert Peak
• Enterprise Surprises Market with $3.25 Billion Cash Acquisition of Navitas Midstream

Global Market News

• Libya Struggles To Restore Oil Supply Despite End Of Three-Week Blockade
• UK Energy Supplier: Cuddle Your Pet To Lower Your Bill
• Kazakhstan’s Oil Output To Return To Pre-Unrest Level Within Days
• Mexico Slashes Pemex Debt By $3.2 Billion
• Norway Is Determined To Boost Oil Discoveries
• The Yemen War: An Underestimated Risk For Oil Prices
• Saudi Aramco Buys Stake In Refinery In Russia’s Backyard

Employment Updates

• 2022 Sees a Labor Market Reaching Full Employment – the pace of job growth has slowed, but that may turn out to be a good thing

United States Rig Count

• UP 13 from last week for a total of 601
• Up 61.1% from one year ago
• Statistics courtesy of Baker Hughes

RARE PETRO Updates

Content Updates – News Pulse – Podcast

• Blended ethanol is something RARE PETRO has covered in the past, but 2022 could be a truly pivotal year for the fuel component. Why? Well, check out our latest Periodical to find out! 

• 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!

• A New Basin Breakdown for the month of November is available now! Be sure to check out the latest articles and Basin Breakdown Podcast! 

• 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 Report to 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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