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Canada's New Shale Oil Field Could Rival the Bakken

By , Resource Specialist, Money Morning -

Shale Oil Field

Canada's energy industry may be most famous for its world-class oil sands resources. But a new shale oil field could surpass the oil sands as Canada's largest untapped oil reserve.

In fact, it could even rival the massive Bakken shale of North Dakota in terms of recoverable oil.

This area lies north of British Columbia and east of the Yukon. It's the Northwest Territories.

Recent data from Canada's National Energy Board (NEB) and the Northwest Territories Geological Survey shows that this area holds as much as 200 billion barrels of shale oil reserves. That compares to U.S. Geological Survey estimates that the Bakken shale formation will yield up to 7.4 billion barrels.

Not all of this Canadian oil is necessarily recoverable. But the Canol and Bluefish shales contain a total approaching 7 billion barrels of economically viable resources.

Here's a look at the vast potential of Canada's Northwest Territories...

Exploit Oil's Current Low

By , Resource Specialist, Money Morning -

higher oil prices

If you've been eyeing a new gas-guzzling SUV as your next vehicle, you may want to reconsider that Prius once more.

That's because today's low gas prices won't be around forever and oil prices aren't about to "tank" any time soon.

In fact, the oil price crash has created a state of "contango," a market anomaly that savvy investors can exploit. It's presenting a rare market opportunity to profit that only comes around once every few years.

The Coming Oil Price "Crunch" Means Profits for Smart Investors

By , Global Energy Strategist, Oil & Energy Investor • @KentMoors_OEI -

higher oil prices

Oil prices are inching forward again and there's an inevitable consequence building that will help them climb even higher.

It's called the "reserve crunch" In fact, just 300 million barrels of new reserves have been replaced... out of 1.2 billion. Hence the word "crunch."

Here's why this kind of "crunch" promises to have a big impact on both crude oil prices and stock valuations...

Are We Running Out of Oil?

By , Global Energy Strategist, Oil & Energy Investor • @KentMoors_OEI -

For many years, industry experts have been sounding the alarm that America, and the world, are about to run out of oil.

Every expert who's predicted "the end of oil" has been wrong in the past. But with global energy consumption at an all-time high, and much of the world's economy dependent on oil, the question is: Are we running out of oil?

Here's everything you need to know about today's oil market...

Oil Prices Dip After Hurricane Isaac Weakens

By , Contributing Writer, Money Morning -

After the country braced for the worst outcome, Hurricane Isaac spared the oil industry from costly damage, and oil prices erased earlier gains.

Isaac lost intensity since making landfall Tuesday night, taking the pressure off crude. Benchmark oil fell 87 cents Thursday to finish trading at $94.62 in New York.

Oil traders this week geared up for the impact from Hurricane Isaac-related supply disruptions as refineries along the Gulf Coast either slashed operations or completely shut down, and key import terminals were closed.

As the powerful storm grew closer to shore Tuesday, oil production in the U.S. Gulf of Mexico was nearly completely idled.

According to the U.S. Bureau of Safety and Environmental Enforcement, which oversees offshore oil and gas operations, an estimated 1.3 million barrels a day of crude, 93% of the oil production in the Gulf's federal waters was offline as a result of Isaac. The region's natural gas output was slashed by nearly two-thirds.

The agency said 509 production platforms were evacuated, or 85% of manned platforms in the Gulf of Mexico. Workers have also been pulled from 50 drilling rigs, or 66% of the total.

Luckily Hurricane Isaac spared the southern coast of costly oil rig damage. It was downgraded Wednesday to a tropical storm, relaxing pressure to dip into oil reserves to combat higher prices.

Read More…

The Oil Supply Constriction Is Fast Approaching

By , Global Energy Strategist, Oil & Energy Investor • @KentMoors_OEI -

Shortly I'll be off to Victoria Station, the train to Gatwick, and a welcome flight home to Pittsburgh. However, there is an accelerating development I need to tell you about before getting on the plane.

As you know, last month, the Paris-based International Energy Agency (IEA) and the U.S. government announced they were releasing 60 million barrels of crude oil into the international market, 30 million of which coming from the U.S. Strategic Petroleum Reserve (SPR).

I said at the time that this would only make matters worse. The market has already confirmed my conclusion.

The move hit an unprepared market while I was in Athens on the first leg of this five-week trip. And from the outset, neither the rationale provided by Paris nor Washington rang true.



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