Venezuela is in turmoil. As a consequence of the country’s unfolding economic crisis, oil production has fallen from 2 MMB/d a year ago to 1.5 MMB/d now. More output declines are still expected. The majority of Venezuela’s production is heavy oil, like the diluted bitumen or “dilbit” blends from the Canadian oil sands. Complex […]
The price of West Texas Intermediate (WTI) oil is climbing again; last week the price of a barrel reached a three year high of $US 68.50/B. On this side of the border, Canadian light oil is trading at $C 78/B, a price not seen since late 2014. And even with its burden of price […]
It is a new narrative. Electrons generated from wind and solar are the cheapest available. Renewable energy is undergoing a remarkable fall in costs that will displace all other systems, including natural gas. The latter claim is too early to call. Figure 1 charts the change in the levelized cost of energy (LCOE)—a holistic […]
Disruptive technology. Digital transformation. Blockchain. You’ve heard these and other catch-all phrases before.
