Oil and natural gas prices remain in the doldrums, and the odds of an immediate turnaround look long indeed. But with these volatile markets, you can never say never. And while unlikely in the short term, there are a couple of wild card factors that could give energy markets a lift later this year.
The gloomy headlines about sinking oil prices never seem to end. But crude oil isn’t the only fossil fuel caught up in a bear market these days. Coal prices have also been sinking. And the long-term outlook for coal arguably looks a lot worse than that of oil.
Congress throws the energy world some year-end curveballs. And are natural gas traders forecasting a change in the unseasonably warm weather that has been entrenched across the Eastern U.S. this season?
What a wild week in the energy world! Crude oil, already in the doldrums, is selling off on renewed fears of oversupply in the market. Natural gas producers can’t give the stuff away. And world leaders just adopted a major agreement on reducing greenhouse gas emissions.
Two weeks ago, we explained why we believe low oil prices are here to stay. Today, we lay out our expectations for the energy prices that consumers can expect to pay this winter. The bottom line: Trips to the gas station and winter heating bills should be bearable for most folks during the cold-weather months.
The outlook for the oil market. Gasoline for two bucks a gallon by Turkey Day?
In less than a month, negotiators from all over the world will convene in Paris to thrash out an agreement for limiting future emissions of greenhouse gases in a bid to counteract the effects of climate change. The meeting is billed as critical to avoiding what could be a devastating increase in global temperatures; hopes for a significant agreement are high. But realistically, what can we expect to come out of the Paris summit?
The past two winters have featured frigid cold over much of the country. And in both cases, that nasty weather gave the U.S. economy a bad case of the flu. There’s no telling for sure what this winter has in store, but there’s good reason to believe we’re in for a break.
Volkswagen’s ongoing scandal over phony diesel emissions isn’t just a big story in the auto industry. It also raises key questions for diesel as a transportation fuel at a time when automakers are striving to meet ever-tougher government fuel economy rules.
With oil prices unlikely to rebound from their steep slide anytime soon, producers all around the world will have to scramble to adjust. U.S. shale drillers are slashing their costs to remain competitive, while OPEC and other big oil exporters are looking for a new strategy to cope with cheap oil, now that they can no longer force prices up by restricting output.