BP: Observations and Ruminations
I’m no apologist for Big Oil. As a resident of South Louisiana, I’ve seen the mess that was left behind when they left for greener pastures. The simmering animosity between the “majors” and us “independents” goes back generations. They also have enough dough to carry their own water; they don’t need the help of a small fish blogger like me. That being said, the press | Read More »
Uncle Hugo Plays Hardball With U.S. Drilling Firm
The downturn in energy prices is putting a cash flow squeeze on all producers, including the national oil companies. Many of them made long-term commitments to use equipment at dayrates reflective of $140 oil. Now, with oil at $40/bbl, those commitments made a mere 6 months ago seem short-sighted. Petrosucre, a joint venture of Venezuela’s state-owned oil company PdVSA and Italian giant ENI, entered in | Read More »
Bush Green-Lights Cape Wind; Pass the Popcorn, Please!
Promoted from diaries, with some maniacal laughter mixed in. – Moe Lane. Yr humble correspondent recently provided a run-down on the Cape Wind Project, a private initiative to construct a 130-tower windfarm in Nantucket Sound. As it happens, offshore Massachusetts has the combined advantages of being ideally suited to wind power, while being relatively close to population centers. It has the distinct disadvantage of also | Read More »