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...Peter Martin, Wood Mackenzie’s chief economist, said “the increased cost of capital has profound implications for the energy and natural resource industries”, and that higher rates disproportionately affect...
...Now the US produces almost 20mn b/d of petroleum, roughly on par with consumption. Imports from the Gulf have plummeted, and the US became a net oil exporter for the first time in 2019....
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...We also short media coverage of Jamie Dimon and go long vowels....
...Jamie’s been on the right side of this for the most part though....
...“On factory floors across the nation, our autoworkers are making cars and trucks that give American drivers a choice — a way to get from point A to point B without having to fuel up at a gas station,” said...
...Brent crude, the international marker, rose by a similar margin to settle at $87.42/b....
...The figures top the 12.9mn b/d estimated in 2023 — itself a record, surpassing levels reached before the Covid-19 pandemic....
...West Texas Intermediate, the US crude benchmark, averaged about $80 a barrel during Biden’s first three years compared with $58/b in Trump’s....
...Before the incident, Exxon pumped 45,000 barrels a day out of the country; afterwards it dropped to 15,000 b/d....
...The US Energy Information Administration estimates average prices of about $83/b for the year....
...No mention of the B-word, then....
...At new wells in the Permian, average oil production per drilling rig has increased to 1,319 b/d. A decade ago the figure was about 183 b/d....
...A buzzy but unobtrusive soundtrack of, say, R&B or soul complements dinner....
...“When Martin Luther King said people would be known not by the colour of their skin but the content of their character, I saw that happen.” So what went wrong?...
...That’s all you had to do,” said Osage Minerals Council chair Everett Waller, a descendant of the tribal members whose murders in the 1900s are featured in the Martin Scorsese film....
...Exxon forecasts oil production of 3.8mn oil-equivalent barrels a day in 2024, compared with 3.7mn b/d this year....
...With a knowing wink to multiple B-movies, a vintage twist awaits: a nasty surprise in the trunk....
...According to Martin Blunt, a professor in Imperial’s department of earth science and engineering, who led the university’s shift from petroleum engineering to a new masters course combining geoenergy with...
...Wood Mackenzie forecasts peak production of 1.5mn b/d of production by 2033 — more than that of many Opec countries....
...Rystad, a research group, said Venezuelan production could increase by a maximum of 200,000 b/d six months after sanctions are eased....
...The group of senior class A and subordinate class B bonds are securitised at the operating companies....
...The figures show how the bank’s chief executive Jamie Dimon has taken advantage of acquisition opportunities — such as with the rescue of First Republic this May — and of errors by rivals to establish JPMorgan...
...Venezuela boasts the largest proven oil reserves on the planet and in its heyday pumped about 3mn barrels a day, though years of mismanagement and US-led sanctions have left production well below 1mn b/d...
...Ethan WuThe Katie Martin Long/Short Hedge Fund would have an incredible track record. I think it would be some of the greatest returns volatility of all time....
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