In the space of a week, Hurricane Harvey has flooded miles of real estate, displaced thousands of Texans, and shut down more than ten percent of the United States’ ability to refine and extract oil and gas. Even if you’re not being bombarded with wind and rain, the impact of Hurricane Harvey will still be felt for some time to come. In fact, the price of a gallon of gas has climbed 18 cents since Hurricane Harvey struck in late August.

That price hike is bad enough for the average driver, but a climbing gas price is just the catalyst for several more troublesome economic repercussions. Here’s what the experts are forecasting.

Continue reading→

On Wednesday, August 2, Congress flexed unified legislative muscle for the first time in a long time by implementing a series of fresh sanctions against three countries whose behavior is increasingly worrisome: Iran, North Korea, and Russia.

Continue reading→

It’s been a tough road for Nigeria as the oil-rich country has struggled to build up its energy industry. In spite of the nation’s ample resources and apparent willingness to commit themselves to oil and gas extraction, a small pocket of corruption has plagued the African nation’s development. Now, after years in the grip of a handful of scam artists, Nigeria is working its way back from the brink, and economic stability might be right behind it.

Continue reading→

Over the last six months, the United States oil and gas industry has seen incredible expansion. In June of 2016, the industry claimed 431 active rigs operating in the US. As of June 30, 2017, that number had leapt to 940 active rigs. Seven hundred and fifty-six of those are pumping oil, and 184 are extracting natural gas. The rise in production represents thousands of new jobs created since July of last year.

The last week in June, the United States’ overall rig count fell by a single rig. After 23 straight weeks of robust expansion in which the US oil and gas industry has reached 940 active rigs, the sudden downturn might strike some as a sign of trouble ahead.

Continue reading→

As the United States’ oil and gas industry continues to gain momentum, one of the most prominent performers has been Texas and New Mexico’s Permian Basin. Over the last few years, the Permian has come to represent the United States’ growing dominance in energy production. In recent months, however, some unexpected financial choices from some of the nation’s largest hedge funds have begun to make some investors wonder about the future of the Permian Basin.

Will the vast shale deposit continue to remain one of the United States’ most active oilfields, or does the future of oil and gas lie elsewhere in the nation?

Continue reading→