The Carbon Boom

Posted: June 11, 2021
Category: News Pulse

RP Weekly Recap | June 7 – 11


Carbon dioxide in the atmosphere is at its highest level in modern history and 50% higher than in preindustrial times, according to new findings from the National Oceanic and Atmospheric Agency (NOAA) and the Scripps Institution of Oceanography. While this news does not bode well for the fossil fuel industry, it does provide an opportunity for investment in carbon capture technology. Private CCS developments, supported by state funding, are cropping up around the globe as a means to tackle the rising levels of carbon dioxide in the atmosphere, and fossil fuel firms all seem to be jumping on board in a bid to meet net-zero targets without giving up on traditional energy sources. 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): 174,989,621 (up from 172,265,403 last week)
  • Number of Cases (USA): 33,430,651 (up from 33,329,227 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 5 from last week for a total of 4616
  • Up 65.2% from one year ago
  • Statistics courtesy of Baker Hughes


Content UpdatesNews PulsePodcast

  • 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. 

  • Is oil valuable? Depends on who you ask! Some argue it only became valuable when we learned how to use it. Join your host Tavis Kilian for episode five of Hydrocarbon History as he explores the birth of the modern oil and gas industry!

  • Founded in 2007, Oasis Petroleum has done a stellar job of making a name for itself in the Williston Basin. How do they financially stack up to a past version of themselves and other peers in the area? Find out with RARE PETRO’s Energy Market Report Card!

  • A new episode of the Periodical Podcast is available now! Be sure to check out our discussion uncovering the fact that China’s annual emissions in 2019 exceeded those of all developed countries combined. While their per-capita demand is still lower than the average of other OECD countries, China has been trending in the wrong direction in terms of emissions growth and with emissions continuing to grow while the rest of the world commits to reductions, China appears to be focused on its own economic recovery over meeting global climate goals.

  • This week’s Periodical highlights how the oil and gas industry has been forced to re-calibrate in response to shifting market conditions with capital discipline taking center stage. As the year progresses, consolidation through this price cycle seems to be the driving force of 2021 as companies push to boost margins, cut emissions, and prepare for the energy transition.  

  • Episode Fifteen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Debra Hall, President and CEO of Elementale Enterprises! 

  • 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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