Author Archive: Jordan Gleason

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St. James Parish Council delays vote on Bayou Bridge Pipeline; parish presidents vows to get alternative evacuation route

St. James Parish Council delays vote on Bayou Bridge Pipeline; parish presidents vows to get alternative evacuation route

St. James Parish President Timmy Roussel pledged Wednesday to “review every possibility” to create an alternative evacuation route for residents worried about industrial development encroaching on the parish’s rural west bank. The route has come up as major industrial facilities have been proposed for the area in recent years and the last leg of the 162-mile […]

Early polls in state treasurer’s race released

With a little more than eight weeks to go, polls are showing marginal differences between the major, if little known, candidates for state treasurer. The campaigns, however, see the same anemic numbers as proof their candidates are breaking away from the pack in the Oct. 14 election. A poll released Thursday by former state Rep. […]

Oil Futures Point To Higher Oil Prices

The EIA reported another strong week of inventory declines in its most recent data release, revealing a drawdown of 6.5 million barrels for the week ending on August 4. That means that the U.S. has now pulled more than 60 million barrels from storage since inventories peaked in March at 535 million barrels. More importantly, there is […]

Saudi’s Falih doesn’t rule out more oil cuts but kingdom won’t take unilateral action: Al Sharq

Saudi Arabia’s Energy Minister Khalid al-Falih does not rule out another oil production cut but stressed that the kingdom will not take any unilateral action, the Saudi-owned Al Sharq Al Awsat newspaper reported on Friday. The prospect of continued output cuts is on the table, and if any further action is needed, whether to extend […]

Oil drops 1 percent as IEA sees slow market rebalancing

Oil prices fell by one percent on Friday to their lowest in more than a week after the International Energy Agency said market rebalancing was taking time despite strong demand growth because of weak OPEC compliance with output cuts. Brent crude, the global benchmark, was at $51.42 a barrel at 0830 GMT, down 48 cents. […]

OPEC demand forecast, war drums drive oil prices higher

Even with higher OPEC production, signs of a narrowing gap between supply and demand, and rising geopolitical tensions, pushed oil prices higher Thursday. Economists at the Organization of Petroleum Exporting Countries reported total group production increased 173,000 barrels per day to 32.87 million barrels per day in July, its highest level of the year. Strong […]

Total U.S. energy expenditures in 2015 were the lowest in more than a decade

Expenditures for delivered energy in the United States in 2015 totaled $1.127 trillion, a 20% decrease in real terms from 2014, according to recently released data from EIA’s State Energy Data System. Adjusted for inflation, total energy expenditures in 2015 were the lowest since 2004. Total energy expenditures, expressed as a percent of the United States […]

US Distillate Inventories Fell for the Fourth Straight Week

The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 1.72 MMbbls (million barrels) to 147.7 MMbbls on July 28–August 4, 2017. Inventories fell 1.1% week-over-week and by 3.5 MMbbls or 2.3% YoY (year-over-year). A market survey estimated that distillate inventories would have fallen by 0.1 MMbbls on July 28–August 4, 2017. US […]

US can boost gas exports, cut global emissions in one fell swoop

Infamously, Donald Trump has called climate change a hoax, but the rest of the world knows better. In fact, the main reason European and Asian nations are interested in importing U.S. natural gas is to displace coal and cut greenhouse gas emissions that cause climate change. If the Trump administration truly cares about expanding U.S. gas exports, as they […]

Stephen Waguespack: A plan may finally be coming together…

Believe it or not, there is finally some good news to report on the state budget front: Governor Edwards is signaling that he plans to propose a detailed, specific plan to address the upcoming fiscal cliff. This change in approach from our elected leader is welcomed, timely and much needed. Up until now, the people […]