Mid-Week Review – March 18, 2020

The Saudis Have a High-Stakes Plan to Win the Global Oil War

What started as a price war may turn out to be a much more important strategic rethinking of Saudi oil production policy, as the kingdom seeks to monetize its giant petroleum reserves as fast as possible rather than shepherding that store of wealth through the generations. Such a shift would fundamentally change the economics of the industry, using Saudi Arabia’s ultralow cost advantages to win a race to the bottom.  Click here to read more from Bloomberg.

U.S. Senators Urge Saudi Arabia To End Oil War

In a letter to Saudi Arabia’s Crown Prince Mohammad bin Salman, the 13 Republican Senators led by Dan Sullivan of Alaska and Kevin Cramer of North Dakota said that the extremely volatile and unsettled global oil market with plunging oil prices is “an unwelcome development.”  Click here to read more from Oilprice.com.

House Democrats warn against oil industry bailout

Twenty House Democrats sent a letter to President Trump on Tuesday cautioning against dolling out further funds to the fossil fuel industry after the White House announced late last week that the government would purchase oil to shore up the industry.  Click here to read more from the Hill.

Can Oil Be Renewed? Here’s What Science Says

A recent joint project from Proton Technologies and scientists at the University of Calgary investigated the possibility of pulling hydrogen from oil sands and fields. Hydrogen is an option for electricity production and automobile fuel for hydrogen-powered cars, which produce no greenhouses gases from their tailpipes.  Click here to read more from Environmental Protection.

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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