WORLD
America is subsidising Iran’s fight against America
Iran has managed to boost oil output despite American sanctions. It is possible Washington turned a blind eye on sanctions enforcement to negotiate a new nuclear deal. Or Biden wanted depressed oil prices for his domestic constituency and to hurt Putin’s ability to wage war against Ukraine. A third theory suggests Iran got smarter on bypassing sanctions
WORLD
EV Transition: Can governments forego massive revenues from fuel taxes?
Fuel taxes have five distinctive advantages for governments: They establish a direct link between road usage and payment; they collect lots of money; they are simple and cheap to manage; taxpayers largely accept them as fair; and finally, they are difficult to evade
BUSINESS
Chevron would fit better in Texas than California
Money should go to where it’s welcomed and stay where it’s well treated — neither of which is currently true of petrodollars and California
BUSINESS
BP went for continuity. It needs a revolution: Javier Blas
Along with many other companies, BP loves to reinvent its brand. For a time, it marketed itself as Beyond Petroleum.
BUSINESS
Big oil shouldn’t lead the green energy transition
Eastman-Kodak didn’t invent digital photography; and the Underwood Typewriter Co didn’t develop the keyboard. Disruptors did. Incumbents are bad at innovating. For the very same reason, the likes of Exxon Mobil, Chevron and Shell are unlikely to lead the energy transition
BUSINESS
Europe's petrochemical industry is heading for death row
In Europe, natural gas is about five times more expensive than in the US. Right now, it’s cheaper to buy ethylene in Texas and ship it across the Atlantic for further processing in EU than producing it at home. With petrochemical companies doing that, the net result is loss of economic activity in Europe, erosion of trade balance in chemical products and, ultimately, the loss of jobs and energy security
BUSINESS
Is natural gas about to become a buyer’s market?
It’s not too soon for Europe to plan for a world flush with LNG supplied by the US and Qatar
BUSINESS
Oil megadeals are back. The premiums are not.
Chevron agreed to buy Hess for $53 billion not long after Exxon paid $59.5 billion for Pioneer. Both deals are paradigmatic of a larger trend
BUSINESS
US eases Venezuela oil sanctions, but the country's situation is different from Iran
There are big differences between both countries that prevents Venezuela from ramping up supply and production rapidly in the manner that Iran did. Iran had prepared itself for a situation where sanctions would ease but Venezuela had a lot more ground work to do
BUSINESS
The US needs to refill its dangerously low oil reserves
The government has let its crude stockpiles fall to levels that leave it exposed to any interruption in global supplies
BUSINESS
Israel-Hamas War: How will the Saudis play their oil hand now?
For now, the market — thanks to smuggled Iranian and Russian barrels, plus strong production growth from the US shale, Brazil and elsewhere — doesn’t need extra Saudi oil. But a crackdown on Iranian shipments would allow Saudi Arabia to pump more without sacrificing the other red line: high prices
BUSINESS
For oil, it’s not 1973 again – but it could still turn ugly
The global economy isn’t about to suffer another Arab oil embargo that would triple the price of a barrel of crude. Yet, it would be a mistake to downplay the chances that the world faces higher-for-longer oil prices
BUSINESS
Can oil demand weather the $100-a-barrel punch?
Let’s hope the treatment for the ailment won’t kill the patient
BUSINESS
Commercial asteroid mining has a astronomical cost issue
The latest victory in space innovation should be lauded, but the profitability and expense of industry-driven scouting deservedly require circumspection
BUSINESS
With fossil fuels, ‘peak demand’ isn’t what it sounds like
The day when the world’s consumption of fossil fuels reaches its maximum level is nearer than ever, but let’s not get ahead of ourselves
BUSINESS
Putin is winning his grain war, pitting Poland against Ukraine
There are three ways Zelenskiy and his allies can respond to Putin, but none are attractive
BUSINESS
When governments carelessly risk a food crisis
Price caps on rice could destabilise the market at a time when nations can least afford instability to feed their populations and others
BUSINESS
What happened to Africa rising? It’s been another lost decade
The continent’s social and political malaise are symptoms of economic distress — not the causes
BUSINESS
Even in the age of Tesla, European gasoline demand is booming
Consumer behavior shows a collision of old and new trends that may keep fuel consumption surging for a while
BUSINESS
What gas crisis? Europe’s best friend is also its worst enemy
High prices do solve high prices. But always there’s a cost
BUSINESS
Olive oil prices surge, putting Europe on a slippery slope
The price of olive oil has surged to an all-time high, double a year ago. A metric ton of olive oil now costs more than 10 times a metric ton of crude
BUSINESS
The Harsh Truth: We're using more oil than ever
The planet is getting hotter by the day, but we can’t slake our thirst for crude
BUSINESS
Russia weaponising wheat won’t hurt the world
Bumper crops mean Russia can hurt Ukraine without triggering a rise in global food prices
BUSINESS
The smoke and mirrors of western oil sanctions
The Kremlin was bruised, while Iran and Venezuela have benefited
