Episode 13 - Energy Issues in the Northeast | Exxon, Chevron, Shell earnings reports | Peak Oil Demand
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1) Pipelines
New England suffering from lack of natural gas pipelines, causing price spikes and shortages. Politicization has hindered building new pipelines.
2) New York Energy Lawsuits
City of New York suing big oil \\u2013 irony is that New York is built on the back of oil and gas and requires oil and gas to run. No intention to halt use of oil and gas just effort to sue companies to collect damages while continuing to use their products. Looks good for the mayor but can have far reaching ramifications.
3) Exxon, Chevron, Shell earnings reports
Shell\\u2019s stock price was up because Shell sold off holdings and bought BG Group which helped their balance sheet. Exxon and Chevron had profitable quarters but did not meet analyst expectations so share price fell. Also analysts seemed upset that Exxon CEO did not speak or answer questions on earnings call.
4) Peak Demand
Potential when more cities are powered by combination of nuclear and natural gas. As developing countries reach consumer economies demand for oil for transportation will level off at a consistent level.
5) Iranian oil update
Crude oil swaps with Russia and Iraq progressing reveal problems with Iranian oil infrastructure.
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