Robert, we don't actually view the rising cost of natural gas as a headwind. I'll kind of take the opportunity to remind our shareholders that we do forward purchase natural gas for a reasonable percentage of ou
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Economics is all about marginal cost and marginal revenue (when they are equal profits are maximized), low natural gas prices can be the difference between profit and loss. If oil prices and natural gas prices fall to a level that production is no longer profitable, the rational producer stops...
Motivated by the ongoing war in Ukraine and the public debate on sanctioning crude oil imports from Russia, we estimate the elasticity of substitution between different crude oil types. Using European data on country-level crude oil imports by their fiel
I then used the coefficients from that historical relation to see how much of the drop in oil prices since this summer we would have expected to observe, given the observed drop in copper prices and the 10-year yield and the rise in the value of the dollar. Those predicted values are pl...
Realized prices remained strong this quarter with oil at $109 per barrel, once again above WTI prices. With the NGLs at $41 per barrel and natural gas net back to us nearly $4 per thousand cubic feet. On Slide 5, we excited to have published our 2022 sustainability report yesterday. The...
the pendulum will swing the other way, with oil and gas prices going up, while in the meantime, the prices of these fuels are likely to go up quite a bit due to this same inflation, and these same high interest rates having the effect of reducing investment in oil and gas production....
process. Results show that: for a shale refinery of 3.0 Mt/y scale, (1) 375 t/h oil shale retorting requires 149.6 MW of heat, in which 60% of the heat is produced by combustion of the oil shalepyrolysisgas, while remaining 40% from the coal gasified gas. (2) In consideration of...
They certainly don’t see it in the gas prices. Unlike other oil-producing countries, Mexico doesn’t give its citizens cheap gasoline. Whereas Venezuelans pay about 20 cents per gallon (and that pre-dates the socialistic policies of Hugo Chavez), Mexicans pay about $3 a gallon for ...
Maloney pressed ExxonMobil CEO Darren Woods on public statements that the company’s former CEO, Lee Raymond, made in the mid-1990s, versus what Exxon’s own scientists were reporting to the company. Maloney: “As the world was debating an agreement to reduce greenhouse gas emissions, known...