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China oil storage flows key for crude imports: Russell

(Clyde Russell is a Reuters columnist. The views expressed are his own.) LAUNCESTON, Australia – The state of China’s oil storage tanks is shaping up as a key determinant of the likely path of imports by Asia’s largest fuel consumer. It’s widely accepted in the oil market that China is importing more crude than it actually uses, or re-exports as ...

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Who took my gas? Australia’s LNG boom hurts locals: Russell

(Clyde Russell is a Reuters columnist. The views expressed are his own.) LAUNCESTON, Australia – It’s somewhat ironic that as Australia ramps up to being the world’s biggest exporter of liquefied natural gas (LNG), domestic industries are under threat from not being able to source the fuel. A combination of new LNG plants, exploration moratoriums and a successful anti-gas campaign ...

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Editorial: Taking a deeper look at safety of fracking

When Sen. Fran Pavley pushed the toughest fracking regulations in the nation through the Legislature in 2013, she insisted on requiring a statewide environmental impact review of the practice. If it showed a need for tougher laws, the Agoura Hills Democrat said she would lead the charge. The facts are trickling in, and Pavley may want to start looking for ...

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Record traffic is boosting U.S. fuel demand: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – Traffic on U.S. highways has hit a new record as the economy recovers and the lower cost of gasoline and diesel encourages more travel. Cars and trucks drove a record 3.050 trillion miles on U.S. highways in the 12 months ending in January, passing the ...

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Editorial: Cost of fracking

We were encouraged to see two separate but related actions take place last week — one federal, one state. In both cases the steps were small, but appear at least to be reinserting public safety into the hydraulic fracturing equation. On Thursday, the Kansas Corporation Commission ordered a reduction in the amount of waste saltwater that is being injected into ...

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Tank tops? Cushing isn’t the whole oil market: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – Traders do not appear worried that rising oil stocks in the United States will cause storage space to run out in the next few months, despite the rapid accumulation of inventories at Cushing in Oklahoma. The term structure of futures contracts has remained broadly stable ...

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EDITORIAL: Fix potholes, not global warming

Whoever gets elected mayor of the country’s 41st largest city next month will have a big job. That person will have the power to fill potholes, build sewers and more. But he or she will not control the weather. Nevertheless, Colorado Springs mayoral candidates have been asked about “global warming” throughout the campaign. Anthropogenic global warming hypothesis holds that human ...

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Hedge funds get short of U.S. oil as storage fills: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – Hedge funds have turned super-bearish about U.S. oil prices as concerns about running out of storage trump the drop in the number of rigs drilling new wells. Money managers had amassed a record number of short positions in futures and options contracts linked to WTI ...

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Reroute oil trains? History suggests it’s a long shot

maptrain

WASHINGTON — Last week, U.S. Sen. Al Franken asked the Federal Railroad Administration to consider rerouting trains carrying volatile Bakken crude oil from North Dakota so they do not pass through Minnesota’s biggest cities. For Franken, the possibility of rerouting is an integral part of a comprehensive response to a recent rash of fiery oil train derailments that also includes ...

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Transport sector set to give big lift to oil demand: Kemp

John Kemp is a Reuters market analyst. The views expressed are his own. LONDON – Demand for oil is intimately connected to the demand for transportation in the United States and the other advanced industrial economies. Cars, trucks, airlines, railways and shipping accounted for 71 percent of total U.S. oil consumption in 2013, according to the U.S. Bureau of Transportation ...

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