Senior Market Analyst, Commodities and Energy
John's Feed
Nov 12, 2014

Will the Saudis drive U.S. shale out of business? Kemp

LONDON, Nov 12 (Reuters) – There has always been a close
link between U.S. oil production, international prices and OPEC,
so it should come as no surprise that North America’s shale
drillers find themselves locked in a battle with Saudi Arabia
over prices and market share.

Until the 1950s, the United States accounted for more than
half of all global oil production. Big finds such as Oklahoma’s
Glenn Pool (1905) and the East Texas field (1930) drove oil
price changes around the rest of the world.

Nov 12, 2014

U.S.-China climate statement is no breakthrough: Kemp

LONDON, Nov 12 (Reuters) – The joint statement by the United
States and China on climate change, issued on Wednesday, is more
important for its political and diplomatic symbolism than any
practical effect it might have in reducing emissions.

The statement reiterates policies China and the United
States have been developing on their own and contains no new
binding limits on greenhouse emissions.

Nov 10, 2014

China’s Silk Road challenges U.S. dominance in Asia: Kemp

LONDON, Nov 10 (Reuters) – “The Silk Road, no longer just a
concept in history books, has evolved into a story of modern
logistics and Sino-European cooperation,” Yang Jiechi, China’s
top diplomat, told a conference this month.

The New Silk Road Economic Belt – from China across Central
Asia and Russia to Europe – and the 21st Century Maritime Silk
Road – through the Malacca Strait to India, the Middle East and
East Africa – have become the centrepiece of China’s economic
diplomacy.

Nov 6, 2014

U.S. Clean Power Plan poses risks to electricity reliability: Kemp

LONDON, Nov 6 (Reuters) – The Environmental Protection
Agency’s (EPA) Clean Power Plan could harm the reliability of
the power grid and may need to be modified before it is
finalised.

In an initial review released on Wednesday, the North
American Electric Reliability Corporation (NERC) assessed how
proposed limits on greenhouse emissions from existing
fossil-fuelled power stations would affect the reliability of
the bulk power system (“Potential reliability impacts of EPA’s
proposed clean power plan”, Nov 5).

Nov 6, 2014

U.S. crude export controls are crumbling: Kemp

LONDON, Nov 6 (Reuters) – In the three months ending in
August, the United States and Canada swapped a record amount of
crude oil with each other, one of the more bizarre consequences
of outdated U.S. export controls.

Because U.S. oil producers cannot export crude oil to any
other country, crude is sent north to refineries in Canada, even
if it would make more sense to ship it to refineries in Europe,
Latin America or Asia.

Nov 4, 2014

Saudi Arabia is not declaring a volume war (yet): Kemp

LONDON, Nov 4 (Reuters) – Saudi Aramco cut the price of
December crude deliveries to U.S. refiners on Monday in order to
protect its competitiveness amid an erosion of its U.S. market
share by rival exporters such as Canada and Iraq.

In August, U.S. crude imports from Saudi Arabia slipped
below 900,000 barrels per day, according to the U.S. Energy
Information Administration.

Nov 3, 2014

Why Argentina is most attractive shale play outside US: Kemp

LONDON, Nov 3 (Reuters) – Cristina Fernandez, president of
Argentina, is the sort of populist political leader financial
markets love to hate.

For business interests and the media, she has become an
archetypal villain, a symbol of everything that has gone wrong
with the country’s economy over the last century.

Oct 31, 2014

EIA study removes final barrier to U.S. oil exports: Kemp

LONDON, Oct 31 (Reuters) – Gasoline prices in all parts of
the United States are tied to Brent rather than the domestic
crude oil benchmark WTI, according to a detailed study published
on Thursday by the Energy Information Administration (EIA).

The EIA study removes the last principled objection to
lifting the ban on U.S. crude oil exports – namely that it would
lift domestic oil prices and through them the cost of filling up
at the pump.

Oct 30, 2014

US manufacturing renaissance proves elusive despite cheap gas: Kemp

LONDON, Oct 30 (Reuters) – According to many commentators,
cheap natural gas is producing a renaissance in U.S.
manufacturing and putting European competitors at a
disadvantage.

But empirical studies show the impact has been small and
concentrated in a handful of energy-intensive industries that
account for only a small share of manufacturing value-added.

Oct 30, 2014

Why Britain will not suffer blackouts this winter: Kemp

LONDON, Oct 30 (Reuters) – “If you can keep your head when
all about you are losing theirs and blaming it on you,” is the
famous opening line of a poem by Rudyard Kipling that was once
voted Britain’s favourite verse.

Published at the start of the 20th century, when Britain’s
empire was at its greatest extent, “If” captures the country’s
self-image as phlegmatic and unflappable.

    • About John

      "John joined Reuters in 2008 as one of its first financial columnists, specialising in commodities and energy. While his main focus is on oil markets, he has written broadly on the emergence of commodities as an asset class, regulatory issues and macroeconomic themes. Before joining Reuters, John spent seven years as a senior analyst for Sempra Commodities (now part of JP Morgan) covering base metals and crude oil. Previously, he worked as an analyst on world trade, banking and financial regulation for consultancy Oxford Analytica."
    • Follow John