BLOG.JMHAMILTONPUBLISHING.COM: Category Archive for Big Oil

Last October, the Justice Department filed suit against the company on behalf of the board. Arguments in the case will be heard Wednesday afternoon.

Posted by J.M. Hamilton Blog at 4/11/2012 7:00 AM | Add Comment

“The transformation unfolding in North America represents a potentially decisive shift in the history of energy,” Rex W. Tillerson, the chairman and chief executive of Exxon Mobil

Posted by J.M. Hamilton Blog at 4/11/2012 4:54 AM | Add Comment

UNDER MR. OBAMA'S WATCH NO LESS: "But fundamentally, the U.S. is the fastest-growing oil and natural-gas producer in the world today."

Posted by J.M. Hamilton Blog at 4/11/2012 3:00 AM | Add Comment

What's the old saying.... Bulls Make Money; Bears Make Money; and Pigs....

Posted by J.M. Hamilton Blog at 4/10/2012 7:00 PM | Add Comment

Higher gasoline prices have provided a lift to Honda Motor Co. (7267)’s Civic hybrid sales

Posted by J.M. Hamilton Blog at 4/8/2012 6:00 AM | Add Comment

"I can't recall any other airline buying a refinery."

Posted by J.M. Hamilton Blog at 4/6/2012 11:30 AM | Add Comment

"This is like watching a slow-motion train wreck," said Phil Flynn, an energy analyst at PFGBest. "For this to bottom, we need to get prices a lot lower."

Posted by J.M. Hamilton Blog at 4/6/2012 7:00 AM | Add Comment

Chinese equities traded in the U.S. slid for a second day, widening oil and coal producers’ discounts to Hong Kong to the most this year, a signal commodity stocks may fall as trading resumes in local markets.

Posted by J.M. Hamilton Blog at 4/5/2012 10:30 AM | Add Comment

Crude oil for May delivery dropped $2.54, or 2.4 percent, to $101.47 a barrel on the New York Mercantile Exchange

Posted by J.M. Hamilton Blog at 4/5/2012 9:15 AM | Add Comment

President Barack Obama’s weapon against rising gas prices

Posted by J.M. Hamilton Blog at 4/4/2012 4:30 PM | Add Comment

Campaign aides say Mr. Romney’s position on energy remains consistent.

Posted by J.M. Hamilton Blog at 4/3/2012 4:02 PM | Add Comment

“Under President Obama domestic oil production is at an eight-year high. So why is Big Oil attacking him?”

Posted by J.M. Hamilton Blog at 4/3/2012 2:00 PM | Add Comment

The ads will directly blame Obama for recent increases in gas prices, despite the fact that even such conservative and libertarian voices such as Cato Institute scholars and Rupert Murdoch’s Wall Street Journal have protested that this is specious.

Posted by J.M. Hamilton Blog at 4/2/2012 7:00 PM | Add Comment

"So far, there has been a minimal impact on the environment and let's hope that situation doesn't change," he said.

Posted by J.M. Hamilton Blog at 4/2/2012 1:29 PM | Add Comment

The price of oil is, of course, affected by hundreds of interrelated factors.

Posted by J.M. Hamilton Blog at 4/1/2012 7:00 PM | Add Comment

Newt Gingrich, meanwhile, has promised us $2.50-a-gallon gasoline. But if we can suspend the law of supply and demand, why stop with gasoline? Why not $2.50 for one-carat diamonds, steak dinners and 18-year-old Scotch whiskey?

Posted by J.M. Hamilton Blog at 4/1/2012 6:00 PM | Add Comment

On Friday, the agency told a federal judge it withdrew an administrative order that alleged Range Resources Corp. had polluted water wells in a rural Texas county west of Fort Worth.

Posted by J.M. Hamilton Blog at 4/1/2012 2:30 PM | Add Comment

This is a minuscule amount for an industry whose top three companies in the United States alone earned more than $80 billion in profits last year.

Posted by J.M. Hamilton Blog at 3/31/2012 5:00 PM | Add Comment

Sounds like it's time to start pumping natural gas into our cars...?

Posted by J.M. Hamilton Blog at 3/31/2012 6:46 AM | Add Comment

Chevron is the No. 2 U.S. oil producer.

Posted by J.M. Hamilton Blog at 3/30/2012 9:00 PM | Add Comment

Saudi Oil Minister Ali al-Naimi has said publicly that Riyadh wants to bring down oil prices.

Posted by J.M. Hamilton Blog at 3/30/2012 7:31 AM | Add Comment

Crude-oil prices, which fell throughout the session Wednesday, slumped after the Energy Information Administration reported that U.S. oil stockpiles rose by 7.1 million barrels last week to a seven-month high.

Posted by J.M. Hamilton Blog at 3/29/2012 8:30 AM | Add Comment

Oil reserve releases are normally coordinated by the International Energy Agency that represents 28 industrialized countries on energy policy.

Posted by J.M. Hamilton Blog at 3/29/2012 7:00 AM | Add Comment

Sanctions intended to bring Iran's nuclear program to heel could eventually leave half of Iran's oil output cut off from international markets, according to analysts and officials.

Posted by J.M. Hamilton Blog at 3/29/2012 5:03 AM | Add Comment

“You can sense the climate changing,” Mr. Paulsen said. “We are facing earnings season right around the corner. Any catalyst today could have done this.”

Posted by J.M. Hamilton Blog at 3/28/2012 6:44 PM | Add Comment

Total evacuated 238 workers from the area on Tuesday.

Posted by J.M. Hamilton Blog at 3/28/2012 5:30 PM | Add Comment

A glut of gas from vast shale fields in the United States has driven prices of that fuel to their lowest level in a decade near $2.20 per million British thermal units

Posted by J.M. Hamilton Blog at 3/28/2012 3:15 PM | Add Comment

Dallas-based refiner HollyFrontier Corp. racked up more than $1.1 billion in profit over the last three years, thanks to access to relatively inexpensive Canadian and central U.S. crude supplies

Posted by J.M. Hamilton Blog at 3/28/2012 1:30 PM | Add Comment

The most common reason cited by voters of all political stripes for the rising cost was oil company greed.

Posted by J.M. Hamilton Blog at 3/28/2012 6:32 AM | Add Comment

U.S. crude stockpiles probably rose to a six-month high last week, a Bloomberg News survey showed.

Posted by J.M. Hamilton Blog at 3/27/2012 8:45 AM | Add Comment

BP has put North Sea oil assets worth close to 2 billion pounds ($3.2 billion) up for sale

Posted by J.M. Hamilton Blog at 3/26/2012 6:16 PM | Add Comment

Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, with one putting the figure at close to $1 billion.

Posted by J.M. Hamilton Blog at 3/25/2012 8:45 AM | Add Comment

“Going into the weekend I think it is going to be tough to short this thing,” Schork said.

Posted by J.M. Hamilton Blog at 3/24/2012 3:00 AM | Add Comment

Thus, large numbers of Republicans — and we’re talking about important political figures, not random supporters — firmly believe that global warming is a gigantic hoax

Posted by J.M. Hamilton Blog at 3/23/2012 8:15 AM | Add Comment

They can’t have it both ways.

Posted by J.M. Hamilton Blog at 3/23/2012 8:05 AM | Add Comment

Prices are down this week after reports showed a drop in U.S. gasoline consumption and manufacturing contractions in Europe and China.

Posted by J.M. Hamilton Blog at 3/23/2012 7:45 AM | Add Comment

The global oil and gas, chemical and power markets are the three largest commodities-processing end-markets served by our six process industrials stocks.

Posted by J.M. Hamilton Blog at 3/23/2012 5:30 AM | Add Comment

And now if the U.S. could become OIL Speculator Independant? - JMH

Posted by J.M. Hamilton Blog at 3/23/2012 4:59 AM | Add Comment

In advance of Mr. Obama’s remarks, the American Petroleum Institute released a letter to Mr. Obama from its president, Jack N. Gerard, taking issue with the administration’s offensive.

Posted by J.M. Hamilton Blog at 3/22/2012 1:00 PM | Add Comment

"These charges are outrageous and without merit," Chevron said in a statement.

Posted by J.M. Hamilton Blog at 3/22/2012 8:58 AM | Add Comment

In addition to the increase income from oil and gas production, domestic output of petrochemicals, steel, fertilizer, while consumers would gain disposable income from improved efficiency and lower demand.

Posted by J.M. Hamilton Blog at 3/22/2012 8:02 AM | Add Comment

“Weaker home-sales data, a drop in mortgage applications, Fed buying and comments from Bernanke about damage from energy prices and Europe have given Treasuries a reason to rise,” said Ian Lyngen

Posted by J.M. Hamilton Blog at 3/22/2012 6:02 AM | Add Comment

"Transocean strongly disagrees with the indictments," the company said in a statement read by communications chief Guy Cantwell.

Posted by J.M. Hamilton Blog at 3/21/2012 8:30 PM | Add Comment

“The truth is the price of gas depends on a lot of factors that are often beyond our control,” Mr. Obama said on Saturday in his weekly national address on radio and the Internet.

Posted by J.M. Hamilton Blog at 3/21/2012 5:45 PM | Add Comment

Wouldn't Justice be Served if Global Warming Lead to Less Consumption of Big Oil's Product - JMH

Posted by J.M. Hamilton Blog at 3/21/2012 5:31 PM | Add Comment

This geopolitical paradigm shift means that America needs to realign its energy policy in several key places. For one thing, we should review the estimated $50 billion a year we now spend to maintain a military presence in the Persian Gulf

Posted by J.M. Hamilton Blog at 3/21/2012 1:00 PM | Add Comment

“It appears that the worst of the sovereign-debt crisis in Europe has been avoided for now, but it’s been replaced by rising oil prices as the No. 1 risk the industry faces,” Mr. Tyler said.

Posted by J.M. Hamilton Blog at 3/21/2012 11:30 AM | Add Comment

Gas Consumption Way Down... Prices still Soar!

Posted by J.M. Hamilton Blog at 3/21/2012 7:45 AM | Add Comment

“While it may be obvious to some, it will only be obvious to me when I see BP issue a check,” he said.

Posted by J.M. Hamilton Blog at 3/20/2012 4:02 PM | Add Comment

U.S. stockpiles and increasing Saudi output are a “buffer against the supply concerns from Iran.”

Posted by J.M. Hamilton Blog at 3/20/2012 8:31 AM | Add Comment

Brazilian prosecutors' planned criminal charges against Chevron Corp. CVX +0.38% executives for an offshore oil leak threatens to stifle foreign companies' drilling plans in this petroleum-rich nation.

Posted by J.M. Hamilton Blog at 3/20/2012 6:29 AM | Add Comment

In the end, the war game reinforced to military officials the unpredictable and uncontrollable nature of a strike by Israel, and a counterstrike by Iran, the officials said.

Posted by J.M. Hamilton Blog at 3/20/2012 6:08 AM | Add Comment

Mr. Romney has built his campaign on the premise he is better-equipped than Mr. Obama or any of the other Republicans seeking the presidential nomination to reinvigorate the economy.

Posted by J.M. Hamilton Blog at 3/20/2012 5:34 AM | Add Comment

Fracking in oil patches is similar to the process used in gas wells, except for the inherent power of the pumps employed. Crews inject high-pressure water, sand and chemicals to free hydrocarbons trapped in shale rock

Posted by J.M. Hamilton Blog at 3/19/2012 3:30 PM | Add Comment

“We will no longer be financing homes with gas leases,” Jennifer Jackson, program director for rural loans in the Agriculture Department’s New York office

Posted by J.M. Hamilton Blog at 3/19/2012 11:00 AM | Add Comment

“There’s a much bigger risk from rising gas prices than rates,” he said. “That’s a very visible consumption tax.”

Posted by J.M. Hamilton Blog at 3/19/2012 7:30 AM | Add Comment

If Iraq taught us nothing else, it should have taught us this: Before you deploy the troops, deploy the fact-checkers.

Posted by J.M. Hamilton Blog at 3/19/2012 5:17 AM | Add Comment

Oil supplies are up, and demand is down.

Posted by J.M. Hamilton Blog at 3/18/2012 2:30 PM | Add Comment

Oil prices are “becoming a threat to global growth,” Lagarde said. “I think it’s a major threat.”

Posted by J.M. Hamilton Blog at 3/18/2012 1:30 PM | Add Comment

Sunoco's Latest Annual Financial Statement...Refining Business Enjoys a $500 million turnaround in Pre-tax Earnings....

Posted by J.M. Hamilton Blog at 3/18/2012 11:30 AM | Add Comment

But John Woods, an independent trader, said hedge funds and other large speculators are making bullish bets on gasoline. Such bets have risen in number by 51% since the beginning of the year, according to data from the Commodity Futures Trading Commission

Posted by J.M. Hamilton Blog at 3/18/2012 11:00 AM | Add Comment

The issue of gas prices has not only been misunderstood but thoroughly distorted by relentless ideological spin from industry and its political allies, mainly Republican.

Posted by J.M. Hamilton Blog at 3/18/2012 6:00 AM | Add Comment

Overall U.S. demand for foreign crude has ebbed this year as a boom in domestic and Canadian production reduces the need for imports.

Posted by J.M. Hamilton Blog at 3/17/2012 3:00 PM | Add Comment

“The current high price of oil cushions Russia’s public finances,” Fitch said.

Posted by J.M. Hamilton Blog at 3/17/2012 12:59 PM | Add Comment

Americans spend more on gas than on almost any other single good, and the exact amount is hard to miss as the numbers spin by on the pump.

Posted by J.M. Hamilton Blog at 3/17/2012 8:50 AM | Add Comment

Gasoline prices have increased 53 cents since the start of the year to an average of $3.88 a gallon in the week to Monday.

Posted by J.M. Hamilton Blog at 3/17/2012 7:45 AM | Add Comment

Investors also weighed the oil market's reaction to a news report Thursday—later denied—that the U.S. had reached an agreement with the U.K. to release oil from the Strategic Petroleum Reserve, or SPR.

Posted by J.M. Hamilton Blog at 3/16/2012 7:46 PM | Add Comment

The reality is that far from being hobbled by eco-freaks, the energy industry has been given a largely free hand to expand domestic oil and gas production, never mind the environment.

Posted by J.M. Hamilton Blog at 3/16/2012 7:15 AM | Add Comment

Moving to tap the four giant Gulf Coast salt caverns that hold 700 million barrels of government-owned crude would still almost certainly knock global oil futures lower

Posted by J.M. Hamilton Blog at 3/16/2012 6:48 AM | Add Comment

“There’s no silver bullet,” the president declared. “Anybody who tells you otherwise isn’t really looking for a solution; they’re trying to ride the political wave of the moment.”

Posted by J.M. Hamilton Blog at 3/15/2012 7:10 PM | Add Comment

In particular, QE1, QE2 and the latest "stealth" expansion of the Fed's balance sheet (through the extension of currency swaps to the European Central Bank) all have been associated with jumps in crude oil prices

Posted by J.M. Hamilton Blog at 3/15/2012 9:00 AM | Add Comment

A Release of the Strategic Petroleum Reserves Would Offset the Speculation that has Taken Place as a result of LTRO and QE's & Has Burned the American Consumer.... J.M.H.

Posted by J.M. Hamilton Blog at 3/15/2012 8:35 AM | Add Comment

Federal taxpayers also heavily subsidize coastal development when the government pays to rebuild infrastructure destroyed in storm surges and picks up much of the bill for private losses not covered by insurance.

Posted by J.M. Hamilton Blog at 3/14/2012 6:06 AM | Add Comment

The results indicated that there was a “a significant negative relationship between the money countries extract from national resources and the knowledge and skills of their high school population.”

Posted by J.M. Hamilton Blog at 3/11/2012 7:39 AM | Add Comment

But some insiders from Japan’s tightly knit nuclear industry have stepped forward to say that Tepco and regulators had for years ignored warnings of the possibility of a larger-than-expected tsunami in northeastern Japan

Posted by J.M. Hamilton Blog at 3/10/2012 7:14 AM | Add Comment

How About the Correlation between Quantative Easing and Rising Oil and Stock Prices???? - J.M. Hamilton

Posted by J.M. Hamilton Blog at 3/8/2012 8:09 PM | Add Comment

The loss of nuclear power has hurt in another way: economists blame the higher energy prices for causing Japan’s first annual trade deficit in more than three decades...

Posted by J.M. Hamilton Blog at 3/8/2012 7:52 PM | Add Comment

Israelis have every right to be fearful and frustrated.

Posted by J.M. Hamilton Blog at 3/6/2012 7:03 AM | Add Comment

After a yearlong drilling moratorium, BP and other oil companies are intensifying their exploration and production in the gulf, which will soon surpass the levels attained before the accident.

Posted by J.M. Hamilton Blog at 3/5/2012 4:03 PM | Add Comment

Two byproducts of the automobile bailout were the carmakers’ acceptance of sharply improved fuel economy and a new commitment to building cars that can meet those standards.

Posted by J.M. Hamilton Blog at 3/5/2012 6:23 AM | Add Comment

The agreement calls for replacing the $20 billion fund created by BP to compensate victims of the spill, and to pay natural resources damages and state and local response costs.

Posted by J.M. Hamilton Blog at 3/3/2012 7:20 AM | Add Comment

This week, Chu is showing off his brainchild in Washington.

Posted by J.M. Hamilton Blog at 3/2/2012 7:12 PM | Add Comment

Russia’s second-largest oil producer, shelved a plan to make a $1.8 billion shale acquisition in the U.S. because of slumping natural-gas prices.

Posted by J.M. Hamilton Blog at 3/2/2012 10:22 AM | Add Comment

Oil Prices are at Present Highs Due to Central Bank Policies Flooding the Market with Liquidity and Cartels Speculating on Oil Futures and Options... J.M. Hamilton

Posted by J.M. Hamilton Blog at 3/2/2012 6:52 AM | Add Comment

Israeli Prime Minister Benjamin Netanyahu is scheduled to address the American Israel Public Affairs Committee in Washington on March 5, a day after President Barack Obama speaks to the group, the main pro-Israel lobby in the U.S.

Posted by J.M. Hamilton Blog at 3/2/2012 6:29 AM | Add Comment

Tensions with Iran and soaring oil prices have inspired ever-entrepreneurial Goldman Sachs to oil the cogs of finance with the issue of warrants linked to the price of Brent crude oil.

Posted by J.M. Hamilton Blog at 3/1/2012 7:10 PM | Add Comment

“You can either stand up for the oil companies, or you can stand up for the American people,” Mr. Obama said.

Posted by J.M. Hamilton Blog at 3/1/2012 7:06 PM | Add Comment

Hamm, the 66-year-old founder, chairman and chief executive officer of Continental Resources Inc. (CLR), will be chairman of Romney’s Energy Policy Advisory Group

Posted by J.M. Hamilton Blog at 3/1/2012 6:49 PM | Add Comment

PURE SPECULATION: "Gasoline futures are surging, spurred in part by recent refinery closings that may produce a shortage of motor fuel in the Northeast states by summer."

Posted by J.M. Hamilton Blog at 3/1/2012 7:33 AM | Add Comment

PRIVATE EQUITY DEAL GONE BUST: TXU

Posted by J.M. Hamilton Blog at 2/29/2012 6:08 AM | Add Comment

Many industry analysts and experts say a quick settlement is in BP's best interest.

Posted by J.M. Hamilton Blog at 2/27/2012 11:37 AM | Add Comment

So Why Are Prices Going Up at the Pump? - JMH - “The U.S. has reversed a two-decade-long decline in energy independence, increasing the proportion of demand met from domestic sources over the last six years to an estimated 81 percent..."

Posted by J.M. Hamilton Blog at 2/26/2012 7:37 AM | Add Comment

The plan also shortens the summer drilling season to around two months.

Posted by J.M. Hamilton Blog at 2/26/2012 6:36 AM | Add Comment

The position is doubly attractive because it creates leveraged exposure to crude prices should exogenous events such as a crisis involving Iran cause oil prices to surge.

Posted by J.M. Hamilton Blog at 2/24/2012 5:56 PM | Add Comment

Why would Events in the Middle-East Impact U.S. Gas Prices, When the U.S. Receives Most of It's Oil from the Americas? The U.S. Consumer is being Taken for a Ride Again - J.M.H.

Posted by J.M. Hamilton Blog at 2/24/2012 7:12 AM | Add Comment

The vote was backed by the United States and Yemen's rich neighbors led by Saudi Arabia

Posted by J.M. Hamilton Blog at 2/21/2012 6:37 AM | Add Comment

Mr. McCain said. “We have seen in Libya that there are ways to get weapons to people so that they can defend themselves. "

Posted by J.M. Hamilton Blog at 2/21/2012 6:31 AM | Add Comment

“I think energy is going to be one of the major issues in this election, and it’s going to peak in two months.”

Posted by J.M. Hamilton Blog at 2/19/2012 7:08 AM | Add Comment

“In the United States, when oil prices go up, the president’s ratings go down. In Russia, it’s the opposite.”

Posted by J.M. Hamilton Blog at 2/16/2012 7:33 PM | Add Comment

Some economists fear a repeat of last year, when the economy appeared to be gaining strength only to stall when oil prices spiked because of turmoil in Libya.

Posted by J.M. Hamilton Blog at 2/16/2012 6:45 AM | Add Comment

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