The Battle Rages On

RP Weekly Recap | April 5 – 9

Summary

The oil and gas industry has been at odds with Joe Biden and his Administration since his first policies hampered their development goals. Things got bad this past week when it was revealed Biden’s $2 trillion infrastructure and tax plan proposes to eliminate tax preferences and implicit subsidies for fossil fuels that would boost government receipts by more than $35 billion over the next decade. But things got worse when the financial times reported that methane emissions from the sector have already surpassed pre-pandemic levels while production itself is still roughly 2 million bpd shy of those pre-crisis levels. While this is certainly not the direction the fossil fuel industry wants to be headed, the battle goes on. Check out these stories 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): 134,200,330 (up from 129,828,041 last week)
  • Number of Cases (USA): 31,023,288 (up from 30,558,054 last week)
  • Statistics courtesy of Johns Hopkins

Financial & Economic Updates

U.S. Oil Market News

Global Market News


Employment Updates


United States Rig Count

  • Up 2 from last week for a total of 432
  • Down 28.2% from one year ago
  • Statistics courtesy of Baker Hughes

RARE PETRO Updates

Content UpdatesNews PulsePodcast

  • Episode Three of our newest segment, Hydrocarbon History is available now! Join us as we explore the history of oil and gas to see what we might learn from the mistakes and successes of others. In this episode, Tavis explores the historical significance of one of the most beloved energy sources of all time: Whales. 

  • A new episode of the Periodical Podcast is available now! Be sure to check out our discussion uncovering the folly of corn-based ethanol gasoline and why the use of corn for fuel never made economic or environmental sense. 

  • This week’s Periodical uncovers the folly of corn-based ethanol gasoline. Historically, scientists viewed biofuels as inherently carbon-neutral but new studies performed over the past decade suggest that once all the emissions associated with growing feedstock crops and manufacturing biofuel are factored in, biofuels actually increase carbon dioxide emissions rather than reduce them.

  • Episode Fourteen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Matt Showalter, Executive Chairman at Iron-IQ!

  • Episode 11 (Tackling the Data Monster Pt. 2) of 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!


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