March 1st, 2020
With the prospect of a US war with Iraq, oil price predictions range anywhere from $15/bbl lower to $20/ bbl higher. As a result, consumer prices could easily increase $0.30 – 0.35/gal in a matter of 30 days.
Oil analysts predict that hydrogen will become increasingly important in coming years as more stringent fuel regulations are enforced, and later as hydrogen vehicles gain acceptance. (Back to your Ouija boards!)
Light, sweet crude: $34.63/bbl
Natural gas: $4.20/MMbtu
Colombia’s incursion into Ecuador to attack the Colombian rebel group FARC raises the tension level between Colombia, Ecuador and Venezuela and threatens oil production in the area.
Venezuelan President Hugo Chavez claims that Colombia is a pawn in a US plot to invade Venezuela.
The USGS estimates roughly 1.26 billion bbl of oil and 1.02 billion bbl of natural gas liquids …