Edward's Feed
Oct 16, 2014

Sinking oil prices may curb U.S. output too slowly for Saudis

NEW YORK (Reuters) – Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.

Many observers expect a downward spiral of global oil prices to rapidly dampen shale oil drilling in the United States, slow production growth and help bolster prices. Small producers vulnerable to sudden price moves may have to slow spending, fast reducing the amount of oil gushing to market.

Oct 15, 2014

Analysis – Sinking oil prices may curb U.S. output too slowly for Saudis

NEW YORK (Reuters) – Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.

Many observers expect a downward spiral of global oil prices to rapidly dampen shale oil drilling in the United States, slow production growth and help bolster prices. Small producers vulnerable to sudden price moves may have to slow spending, fast reducing the amount of oil gushing to market.

Oct 15, 2014

Analysis – Worrying for Saudi, U.S. oil output cuts could take a while

NEW YORK (Reuters) – Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.

Many observers expect a downward spiral of global oil prices to rapidly dampen shale oil drilling in the United States, slow production growth and help bolster prices. Small producers vulnerable to sudden price moves may have to slow spending, fast reducing the amount of oil gushing to market.

Oct 15, 2014

Worrying for Saudi, U.S. oil output cuts could take a while

NEW YORK (Reuters) – Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.

Many observers expect a downward spiral of global oil prices to rapidly dampen shale oil drilling in the United States, slow production growth and help bolster prices. Small producers vulnerable to sudden price moves may have to slow spending, fast reducing the amount of oil gushing to market.

Oct 7, 2014

As oil prices tank, new era of abundance seen dawning

By Edward McAllister and Timothy Gardner

(Reuters) – As oil production swells, demand falters and prices slide, the global oil marketĀ appears on the verge of a pivotal shift from an era of scarcity to one of abundance.

Oil prices have fallen as much as 20 percent since June, despite a host of rising supply risks, leading more investors and traders to consider whether 2015 is the year in which the U.S. shale oil boom finally tips the world into surplus.

Sep 25, 2014

Lawmakers in U.S. oil heartland soften over export ban

NEW YORK (Reuters) – In the oil drilling and refining heartland of Texas, the debate over U.S. crude exports is no longer a fight over whether a 40-year ban should be lifted. The question now is how soon it will end.

As Washington mulls reversing the ban amid a drilling boom that has swamped the U.S. Gulf Coast in oil, Texan lawmakers are already preparing for the prospect of crude oil exports from the state’s major ports, and assessing what it means for constituents.

Sep 10, 2014

Closing Brooklyn movie rental store reflects changing digital age

NEW YORK (Reuters) – Before launching a closing sale at her movie rental store in Brooklyn last week, Kathy Smelyansky looked around at the thousands of DVDs and wondered if she would ever sell them.

Business was not what it used to be, and summer sales had been slow. But after she put a large yellow “going out of business” sign in the front window of Video Gallery, one of the last independent movie stores in the New York borough, people immediately began to stream in.

Sep 10, 2014

Morgan Stanley seeks profit in natgas exports where others failed

NEW YORK (Reuters) – Morgan Stanley’s unorthodox plan to export U.S. compressed natural gas could give the Wall Street bank quick access to emerging Caribbean markets – if it can find a way to ship the fuel in bulk after decades of other failed attempts.

A Morgan Stanley subsidiary in May applied for a license to export CNG from Freeport in Texas, one of the only applications of its kind in the United States. The plan, at an initial cost of $200 million, is to load pressurized containers up to 40 feet in length filled with CNG onto ships for export.

Sep 10, 2014

Analysis – Morgan Stanley seeks profit in natgas exports where others failed

NEW YORK (Reuters) – Morgan Stanley’s unorthodox plan to export U.S. compressed natural gas could give the Wall Street bank quick access to emerging Caribbean markets – if it can find a way to ship the fuel in bulk after decades of other failed attempts.

A Morgan Stanley subsidiary in May applied for a license to export CNG from Freeport in Texas, one of the only applications of its kind in the United States. The plan, at an initial cost of $200 million (124 million pounds), is to load pressurized containers up to 40 feet in length filled with CNG onto ships for export.

Aug 28, 2014

After the riots, Ferguson businesses long for normal

By Edward McAllister

FERGUSON Mo. (Reuters) – When Ferguson business owner Chantelle Nickson-Clark spoke at a St. Louis County council meeting this week her voice shook with anger.

The Swiish Bar and Grill that she owns in the St. Louis suburb of Ferguson was forced to shut for 17 days after the police shooting of an unarmed black teen on Aug. 9 sparked violent clashes between police and protesters and led law enforcement to close the area in front of her building.