Oil Prices Are Being Hit By The Perfect Storm—And Laughing It Off

Oil markets do not have a reputation for being particularly zen. Volatile and quick-to-react, crude oil futures have a tendency to swing wildly and sometimes irrationally, often going in exactly the opposite direction oil analysts expect–sometimes for years at a stretch. So when crude was hit with a “perfect storm” this week–from alleged attacks on […]

The Occidental-Anadarko Petroleum Merger’s Crude Truth About Oil Prices

On the last Friday in April, Warren Buffett got a call from Brian Moynihan, the CEO of Bank of America, asking if he would back Occidental Petroleum‘s underdog bid for rival oil driller Anadarko. Two days later, Occidental CEO Vicki Hollub was making the pitch herself, having flown to Omaha to appeal directly to the […]

How Viable Are AOC’s Green New Deal Energy Proposals? Just Ask Europe

If the U.S. ever gets around to implementing aspects of the so-called Green New Deal, Europe has a few lessons to share. When Rep. Alexandria Ocasio-Cortez and Sen. Ed Markey, both Democrats, introduced their Green New Deal resolution earlier this year, it quickly sank in the Senate, largely due to Republican opposition. But its ideas […]

‘World’s Most Important Oil Chokepoint’ Is Ground Zero for the Escalating U.S.-Iran Feud

When tensions rise in the Strait of Hormuz, history says trouble is ahead. The strait–which forms a tiny passage from the Persian Gulf to the Gulf of Oman–is the “world’s most important oil chokepoint,” according to the U.S. Energy Information Administration (EIA). The narrow waterway forms a crucial link between the vast oil reserves of […]

California Could Go Dark This Summer to Prevent Wildfires

A plan by California’s biggest utility to cut power on high-wind days during the onrushing wildfire season could plunge millions of residents into darkness. And most people aren’t ready. The plan by PG&E Corp. comes after the bankrupt utility said a transmission line that snapped in windy weather probably started last year’s Camp Fire, the […]

Saudi Arabia Says Oil Tankers Damaged In “Sabotage Attack” as Middle East Tensions Rise

Saudi Arabia said two of its oil tankers were attacked while sailing toward the Persian Gulf, adding to regional tensions as the U.S. increases pressure on Iran. The Saudi tankers were damaged in “a sabotage attack” off the United Arab Emirates coast on Sunday, state-run Saudi Press Agency reported. The vessels were approaching the Strait […]

Chevron Drops Out of Bidding War with Occidental for Anadarko Petroleum

Chevron Corp. is abandoning its $33 billion offer for oil driller Anadarko Petroleum Corp., the culmination of a month-long bidding war in which Occidental Petroleum Corp. prevailed over a rival five times its size. The most ambitious foray of Chevron Chief Executive Officer Mike Wirth’s tenure ended Thursday after the world’s third-largest oil explorer by […]

The Prize for Winning Energy’s Biggest Takeover Battle? An Oil Field Half the Size of California 

The Chevron vs. Occidental battle to buy Anadarko Petroleum is the biggest, twistiest corporate takeover tussle the energy industry has seen in years. But it’s not just entertainment: at stake is nothing less than a battle for the heart of the U.S. shale boom. The prize is the right to dominate the Permian Basin, a […]