Energy Musings

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

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

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.