News & Analysis as of

Crude Oil

Resilience Is Key: Gingerbread And Oil Prices

by Fox Rothschild LLP on

For the first time during my holiday baking, I added gingerbread men to the baking list. I can’t emphasize how nervous I was to add gingerbread to my already long list of holiday baking items. We have all bitten in to a rock...more

Department of Transportation Repeals Controversial Rail Brake Rule

by Holland & Knight LLP on

In a decision that had become all but inevitable, the U.S. Department of Transportation (DOT), on December 4, 2017 rescinded its rule that would have required railroads carrying highly hazardous flammable materials, such as...more

Nebraska Approves Route for Keystone Pipeline XL

by King & Spalding on

On November 20, 2017, the Nebraska Public Service Commission (PSC) approved a route for the Keystone XL Pipeline (Pipeline) to pass through Nebraska. Although the approval is a significant milestone for the Pipeline and the...more

Oil Prices Reflecting Cold Feet?

by Fox Rothschild LLP on

Just recently, oil prices hit a two-year high – but now, this week they have started to head lower. What is going on? Are sliding oil prices a reflection of cold feet? As I write this, according to Bloomberg Energy, WTI...more

Association of Irritated Residents v. Kern County: Temporary Shutdown Does Not Reset the Baseline for CEQA Environmental Analysis

On November 21, the California Fifth District Court of Appeal issued its decision in Association of Irritated Residents v. Kern County Board of Supervisors, 2017 WL 5590096, a challenge to the County’s Environmental Impact...more

Oil Spill/Water Enforcement: Mississippi Commission on Environmental Quality and Vicksburg, Mississippi River Barge Operator Enter...

The Mississippi Commission on Environmental Quality (“MCEQ”) and Magnolia Marine Transport (“MMT”) entered into a November 1st Agreed Order (“AO”) addressing alleged violation of a provision of the Mississippi Code addressing...more

House and Senate Tax Reform Proposals Diverge on Energy Provisions

by Holland & Knight LLP on

On November 2, House Republicans introduced H.R. 1, the Tax Cuts and Jobs Act. Senate Republicans followed suit shortly thereafter, releasing their proposal on November 9. The House Ways & Means Committee concluded its markup...more

Oil’s Dance Moves: From Contango Into Backwardation

by Fox Rothschild LLP on

Last August, I wrote a blog entitled, “Did you just ask me to dance the Contango?” It explained, in detail, oil prices being in Contango – the “situation where the future spot price is below the current price, and people are...more

Are We Having An Oil Rally?! Hold The Champagne…

by Fox Rothschild LLP on

I just read an online article in Fortune entitled, “Oil Prices Have Rallied. So Why is No One Celebrating?” and for a moment, I thought to myself, “wait, is this really a rally?” Grab the champagne! As I write this blog,...more

Pumpkin Patches And Prices

by Fox Rothschild LLP on

This weekend, I did the quintessential fall activity – visited the pumpkin patch at our local Anderson Farms! The perfect way to spend a fall day; we even got a little lost in the corn maze before picking out the perfect...more

Price of Oil, Rig Count And Lease Sale: Show Me The Money!

by Fox Rothschild LLP on

After reading this weekend’s headlines and checking the stock market, Tom Cruise in the movie Jerry Maguire yelling, “SHOW ME THE MONEY” has been ringing in my head this afternoon....more

Pioneering Offshore Access to the China Commodities Futures Markets – The INE and its Medium Sour Crude Oil Contract

by Reed Smith on

The opening up of the futures markets for commodity products in China has been much discussed and highly anticipated. However, it looks like a crude oil futures contract, listed on the Shanghai International Energy Exchange...more

The Strategic Petroleum Reserve and Hurricanes: A Primer

by Latham & Watkins LLP on

Often used in response to major hurricanes, the SPR remains a strategic asset to protect against disruption in US crude oil supplies. In response to the devastation caused by Hurricane Harvey, US Department of Energy (DOE)...more

Supply Is Key: Palisade Peach Pies And Oil Markets

by Fox Rothschild LLP on

We are in the heart of an early peach season in Colorado. In fact, according to the Denver Post article entitled, “Palisade Peaches Ripen Early Because of Colorado’s Heat Wave,” peach season began a little early this year....more

Pipeline Partnership Verdict Reversed

by Gray Reed & McGraw on

Enterprise Products Partners, L.P. et al v. Energy Transfer Partners, L.P. et al reversed one of the largest jury verdicts in Texas history. You will like this decision if... ...more

EIA: U.S. Crude Oil Production Forecast Expected to Reach Record High in 2018

by Kelley Drye & Warren LLP on

“In EIA’s latest Short-Term Energy Outlook (STEO), total U.S. crude oil production is forecast to average 9.3 million barrels per day (b/d) in 2017, up 0.5 million b/d from 2016. In 2018, EIA expects crude oil production to...more

Business Litigation Alert - "Enterprise Products v. ETP: No Legal Obligation really means No Legal Obligation"

by Porter Hedges LLP on

A Texas Court of Appeals ruled this week that when companies agree in writing that they have no legal obligations to proceed with a project, they mean it. That may appear to be a simple concept but a jury came to a different...more

Craving Another Long Weekend? So Are OPEC Members…

by Fox Rothschild LLP on

This morning, I read a Bloomberg article entitled, These Numbers Show the Huge Challenges Now Facing OPEC Members, that stated, “[t]he price of a barrel of Brent crude has more than halved over the past five years, triggering...more

Takeaways From The May EIA Short-Term Energy Outlook

by Fox Rothschild LLP on

The U.S. Energy Information Administration (“EIA”) released its Short-Term Energy Outlook (“STEO”) yesterday for the month of May – Here are a few of the main takeaways from the May STEO forecasts: Crude Oil – the...more

Hold Your Horses: Oil Prices In A Landslide…Again.

by Fox Rothschild LLP on

Oil prices are slipping once again. According Bloomberg Energy, WTI Crude Oil is currently at $45.43 (-5.00% change) and Brent Crude closed $48.36 (-4.78% change) as I write this....more

EIA: Permian Basin Oil Production and Resource Assessments Continue to Increase

by Kelley Drye & Warren LLP on

According to the U.S. Energy Information Administration, “Crude oil production in the Permian Basin is expected to increase to an estimated 2.4 million barrels per day (b/d) in May, based on estimates from EIA’s Drilling...more

Blockchain Energizer Vol. 2

by K&L Gates LLP on

There is a lot of buzz around blockchain technology and its potential to revolutionize a wide range of industries from finance and healthcare to real estate and supply chain management. Reports estimate that over $1.4 billion...more

EIA: Crude production in Gulf of Mexico Continues to Increase

by Kelley Drye & Warren LLP on

Our humble little blog is so focused on the onshore shale plays, we sometimes need to be reminded that offshore crude oil production is increasing as well. According to the U.S. Energy Information Administration, “U.S....more

History Doesn't Bode Well For New Commercial Cargo Preference Bill

by Holland & Knight LLP on

Rep. John Garamendi (D-Calif.), joined by Reps. John Duncan (R-Tenn.) and Duncan Hunter (R-Calif.), recently introduced H.R. 1240, the Energizing American Maritime Act, described as a bill "to require a certain percentage of...more

Domestic Crude Oil Production Down in 2016

by Kelley Drye & Warren LLP on

According to the U.S. Energy Information Administration, ““Despite increasing crude oil prices throughout most of 2016, total U.S. crude oil production in 2016 was below its 2015 level. However, monthly production began...more

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