Author Archive: Jordan Gleason

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U.S. Inventory Reductions Probably Not Sustainable

The decline in U.S. comparative inventories since February is the most significant oil market development since prices collapsed three years ago. It means that U.S. demand has exceeded supply for most of the last 5 months. The main cause is lower net imports, not higher domestic consumption, and that is probably not sustainable. Comparative inventory […]

Can Don Briggs lift oil industry spirits as LAGCOE Looey?

Can Don Briggs lift oil industry spirits as LAGCOE Looey?

LAGCOE turns 62 this year, Cring said. It’s not ready for early retirement. Briggs, the latest in the line of three dozen “LAGCOE Looeys” and president of Louisiana Oil & Gas Association, donned the traditional hardhat that he’ll wear at the show and promised to offer unabashed encouragement. He cited LAGCOE Looeys of the past like J.P. […]

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 […]

$1 billion budget gap topic of John Bel Edwards meeting with Louisiana business leaders

Gov. John Bel Edwards met behind closed doors with 21 Louisiana business leaders at the Capitol on Tuesday (Aug. 8) to discuss the state government’s looming $1 billion-plus budget gap. The governor is expected to hold several more meetings with business interests and legislators over the next few months to figure out how to will handle […]

Louisiana AG Jeff Landry enters case challenging Texas bail system

Louisiana Attorney General Jeff Landry has joined dozens of other prosecutors and former U.S. Justice Department officials challenging the bail practices in Houston as unfair to poor people. They argue that Harris County’s practice of detaining people on minor charges solely for lack of bail money is unconstitutional. Landry thinks “that the ability for an accused […]

U.S. oil prices slip as some OPEC producers export more

Oil prices slipped on Tuesday, pulling back from recent gains as exports from key OPEC producers rose and despite news of lower crude shipments from Saudi Arabia. The oil market has been in consolidation mode after a sharp rally between mid-June and late July pushed U.S. crude futures above $50 a barrel for the first […]

Why Oil Rigs Are Making Oil Traders Panic

In the week ended August 4, 2017, US oil rig count fell by one to 765. On a YoY (year-over-year) basis, the US oil rig count has more than doubled, but oil prices rose only 14.3% during this time period.  Since June 20, 2014, US crude oil (OIIL) (UCO) (DBO) active futures declined 54.2%. Since […]

U.S. natural gas futures rise for third straight day

U.S. natural gas futures pushed higher on Wednesday, as investors looked ahead to weekly data from the U.S. on supplies in storage to gauge demand for the fuel. U.S. natural gas for September delivery was at $2.852 per million British thermal units by 9:05AM ET (1305GMT), up 3.0 cents, or around 1%. It touched its […]

Why Natural Gas Recovery Could Affect Gas-Weighted Stocks

However, between July 31, 2017, and August 7, 2017, natural gas September futures rose just 0.30%. During that time period, the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index rose 0.40% and 1.4%, respectively. These equity indexes have some exposure to oil and gas companies. Also, the rise in US crude oil […]

ICYMI: “The United States is rapidly becoming a net exporter of natural gas for the first time in 60 years.”

The United States is rapidly becoming a net exporter of natural gas for the first time in 60 years. That’s according to data from the Census Bureau and the U.S. Energy Information Administration. While imports of gas are flat or falling, exports continue to rise, and the data give weight to government analysts’ conviction that […]