Nat Gas News – August 16 2017
Oil holds at 3-week low as traders brace for U.S. supply data
MarketWatch reports: Oil pared much of their earlier losses on Tuesday, with U.S. prices finishing just a few cents lower and holding ground at their lowest level in three weeks. Concerns over growing U.S. shale-oil production weighed on the market, but prices found some support from the latest forecasts calling for a decline in weekly U.S. crude supplies. Oil prices were already on the decline Monday, then worsened after the U.S. Energy Information Administration said it expects to see a climb in crude output from key U.S. shale regions of 117,000 barrels a day in September to 6.149 million barrels a day. For more on this story visit marketwatch.com or click http://on.mktw.net/2uGnqmn
How Elon Musk and cheap oil doomed the push for a different kind of fuel
Fortune reports: Back in 2008, the proposal by energy magnate T. Boone Pickens had some appeal. U.S. oil production was plunging, and the world’s biggest fuel-consuming country was becoming ever more dependent on foreign crude. Oil jumped to a record near $150 a barrel, while natural gas was comparatively cheap. Pickens co-founded Clean Energy Fuels Corp. to profit from the switch. The maker of natural gas filling stations was once valued at about $1.8 billion. By 2011, U.S. oil output began to surge with the shale boom. Three years later, prices for crude, diesel and gasoline were tumbling. While natural gas has become a staple for domestic power plants, supplanting coal, the prospect for cheaper alternatives made it less attractive as a vehicle fuel. For more on this story visit fortune.com or click the following link http://for.tn/2uZCoz2
