How Oil Prices Impact the U.S. Economy
The extraction of oil and natural gas from shale has reduced the amount of oil the United States needs to import and is adding to the economy in the forms of jobs, investment, and growth. Oil exploration and production is again an important industry in the United States. In this article, we will look at how oil prices impact […]
Internet of Energy (IoE)
What Is the Internet of Energy (IoE)? Internet of Energy (IoE) is a technological term that refers to the upgrading and automating of electricity infrastructures for energy producers and manufacturers. This allows energy production to move forward more efficiently and cleanly with the least amount of waste. The term is derived from the increasingly prominent market for Internet […]
How Fracking Affects Natural Gas Prices
Hydraulic fracturing – “fracking” – is a sometimes-controversial method of extracting natural gas. It’s come to the attention of the public because of its effects on local water quality and even seismic disturbances. But whatever you think of fracking, it has done one thing: keep the price of natural gas from increasing more than it […]
What Is Petroleum?
What Is Petroleum? Petroleum, also called crude oil, is a naturally occurring liquid found beneath the earth’s surface that can be refined into fuel. A fossil fuel, petroleum is created by the decomposition of organic matter over time and used as fuel to power vehicles, heating units, and machines, and can be converted into plastics. […]
Oil Volatility and How to Profit From It
The recent volatility in oil prices presents an excellent opportunity for traders to make a profit if they are able to predict the right direction. Volatility is measured as the expected change in the price of an instrument in either direction. For example, if oil volatility is 15% and current oil prices are $100, it means that within the next […]
Top 5 Chinese Natural Gas Companies
China’s five major natural gas companies include three state-owned energy giants, Sinopec Shanghai Petrochemical Co., Ltd. (NYSE: SHI), China National Petroleum Corporation and China National Offshore Oil Corporation. The other two companies are a pair of municipal companies headquartered in Beijing and Shanghai, respectively. These companies have diverse operations in the energy and chemical industries, among other […]
Trillion Cubic Feet (Tcf)
What Is Trillion Cubic Feet (Tcf)? The term trillion cubic feet refers to a volume measurement of natural gas used by the U.S. oil and gas industry. The measurement is usually abbreviated as Tcf. A cubic foot is a nonmetric measurement of volume also used in the U.S. A trillion—written in numerals as 1,000,000,000,000—cubic feet is equivalent to […]
Natural Gas Storage Indicator (EIA Report)
What Is the Natural Gas Storage Indicator? The Natural Gas Storage Indicator is the U.S. Energy Information Administration’s (EIA) estimate of working natural gas volumes held in underground storage facilities at the national and regional levels. The EIA provides weekly estimates of working gas volumes held in underground storage facilities at the Lower 48 states and five […]
Organization of Arab Petroleum Exporting Countries (OAPEC)
What Does OAPEC Mean? The Organization of Arab Petroleum Exporting Countries (OAPEC) is an inter-governmental organization based in Kuwait. OAPEC fosters cooperation among its 11-member Arab oil-exporting nations.1 Understanding OAPEC OAPEC was established in 1968 by Kuwait, Libya, and Saudi Arabia. Its other members include Algeria, Bahrain, Egypt, Iraq, Qatar, Syria, Tunisia, and the United Arab Emirates. Although […]
How does the price of oil affect Venezuela’s economy?
The price of oil is one of the most heavily watched trends in economics, as it has an effect on the economies of every nation in the world. Some countries, such as the United States, fare better economically when oil prices are low. The U.S. imports far more oil than it exports, and its citizens consume oil […]