RP Weekly Recap | October 18 – 22
In a staggering new report, the Energy Information Agency projects that global energy-related carbon dioxide emissions will increase for countries both inside and outside of the Organization for Economic Cooperation and Development over the next 30 years under current laws and regulations. The report details that between 2020 and 2050, that total energy-related CO2 emissions will increase by 5% (600 million metric tons) in OECD countries and by 35% (8 billion metric tons) in non-OECD countries. As countries around the world face increasing criticism regarding global carbon emission intensities, this new report is certainly poised to spark a wave of new initiatives along the green energy front. Be sure to check out this week’s recap of all things happening in oil and gas to find out more! to find out more!
- Number of Cases (Worldwide): 242,759,366 (up from 239,958,362 last week)
- Number of Cases (USA): 45,314,441 (up from 44,848,523 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- EIA Projects Energy-Related Carbon Dioxide Emissions Will Rise Over the Next 30 Years
- White House Revising Climate Spending Plans after Manchin Objects
- Chevron Sets Net Zero Aspiration and New GHG Intensity Target
- Exxon Considers Abandoning Major Oil And Gas Projects To Appease ESG Investors
- Biden Administration Begs OPEC For More Oil
- California Scrambles to Find Electricity to Offset Plant Closures
- Permian Oil Output Close To Pre-Pandemic Level
- Largest U.S. Coal Miner Sees 17% Share Price Surge
- EagleClaw to Combine with Apache’s Altus Midstream in All-stock Transaction
- Privately Held ProFrac to Buy FTS International for $407.5 Million in Cash
- Diamondback’s Rattler Midstream Acquires $104 Million Stake in Midland Basin JV
- NGP’s Elk Range Royalties Acquires Core Permian Basin Position
- ‘Crazy’ Bets on $200 Oil Invade the Options Market
- Oil Rebounds On Surprise Crude Inventory Draw
- Baker Hughes Profit Disappoints Amid Cost Inflation, Supply Chain Woes
- Oil Prices Could Explode As U.S.’ Largest Storage Hub Nears Empty
- Is The U.S. National Power Grid Ready For Electric Vehicles? **INTERESTING READ**
Global Market News
- Oil Prices Remain Elevated As The Energy Crunch Worsens
- The 2021 Oil Price Rally Is Far From Over
- LNG Tanker Rates More than Double in Two Weeks as Power Crisis Drives Demand
- Coal Generation In UK Jumps As Wind Speed Drops
- North Vancouver Wants To Use Bitcoin For Heating
- UK Grid Relies For 62 Percent On Fossil Fuels For Its Energy
- Why Iraq Can, But Won’t, Reach 8 Million Bpd Of Oil Production
- Japan Asks OPEC For More Oil
- Kazakhstan Is Pulling The Plug On Crypto Miners Amid Power Shortages
- COP26: Document Leak Reveals Nations Lobbying to Change Key Climate Report
- India Looks To Create Strategic Coal And Gas Reserves
- Jobless Claims Continue to Fall to Pandemic-Era Lows – the weekly number continues to show improvement
United States Rig Count
- Down (-1) from last week for a total of 542
- Up 88.8% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- A New Basin Breakdown for the month of September is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- The ongoing oil crisis in the US has caused many people to ask why gasoline prices have skyrocketed to record highs despite the fact that the supply of oil available to the market has increased in recent weeks. The simple answer is that a great deal of oil has been shipped from overseas and stockpiled in U.S. ports, but the bottleneck getting the oil from those ports onto land has caused prices to rise anyway as labor bottlenecks transform into supply bottlenecks. Check out our latest periodical HERE to learn more!
- 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 Holywood 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”.
- Sam Gibbs revolutionized the way a rod pumped well would be managed dozens of times over. As a brilliant engineer, mathematician, and disciplined man he worked passionately to change the trajectory of rod pump technology for generations. Find out more in episode seven of Hydrocarbon History!
- 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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