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Allen's blog

Gas Shale Changed LNG Market Not Opposition

Last week Hess Corp. announced it was withdrawing its application to construct an LNG receiving terminal in the Providence, Rhode Island area.  A local newspaper congratulated itself that its editorials helped mobilize the opposition it credits with stopping the terminal.  Not surprisingly, New England has little appreciation for the energy business, except when oil prices go up, and the changes that have occurred in the natural gas market due to the success with gas shales.  =>Continue Reading

Outlook for Gulf of Mexico and Food Not Good

In the span of two weeks, the Gulf of Mexico oil and gas industry has been presented two assessments of when drilling activity may begin to pick up. About a week and a half ago, Bureau of Ocean Energy Management, Regulation and Enforcement Director Michael Bromwich, in a speech in Washington, D.C., said that his organization was working hard to grant offshore deepwater drilling permits.  When pressed during the question and answer session, he said he would be “stunned” if it wasn’t until the third or fourth quarter before permits were awarded. He also said that in the future, the pace of granting permits in the Gulf of Mexico would not be as fast as in the past, which he knew would disappoint the oil and gas industry.  =>Continue Reading

2011 Energy Surprise: Oil Price Down and Natural Gas Up!

This morning the business talk shows focused on crude oil futures price climbing above $92 per barrel.  The talking heads are commenting on the oil price move being part of a upward trend that will soon break the $100 a barrel price barrier last experienced in 2008 – both on the way up to $147 and during the following commodity price collapse.  The $100 a barrel mark

Presentation to Forging Industry Association, October 26, 2010

We were invited to present to the Forging Industry Association members meeting on October 26th, held in Atlanta, Georgia.  We discussed the challenges facing energy markets, oil prices, natural gas prices, gas shale issues and the impact of aging populations on energy consumption.  The presentation is attached.

Presentation To ICoTA Roundtable, Calgary, Canada, October 14, 2010

On October 14th we were invited to speak at the ICoTA Roundtable meeting held in Calgary.  We spoke about the challenges facing energy markets, oil and gas prices and the performance of energy stocks.  The slide presentation is attached.

BP Commission Hearings Will Set Tone For Offshore Industry’s Future

The Federal Register recently contained a notice that the first meeting of the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling will hold its first meeting in New Orleans next Monday and Tuesday, July 12 and 13.  The meeting

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