- In 2023, 89.1 billion cubic feet per day (Bcf/d) of natural gas was consumed in the United States, the most on record. Since 2018, U.S. natural gas consumption has increased by an average of 4% annually. Read More
- ConocoPhillips (COP), a Houston-based oil and gas company, is identified as a value stock with solid fundamentals. With a Zacks Rank #2 (Buy), COP has a Value Style Score of B and a VGM Score of B, trading at a forward P/E of 13.7X and boasting positive earnings estimate revisions, making it an attractive choice for value investors.
- Under Chairperson Lina Khan, the FTC’s regulatory actions on speculative consumer harms have often blocked mergers in the oil and gas industry, potentially hindering consumer benefits and innovation. Despite concerns raised by Sen. Chuck Schumer and other Democrats, mergers like ExxonMobil’s with Pioneer Natural Resources and Chevron’s with Hess Oil are unlikely to significantly impact market competitiveness, as they represent relatively small shares of global and regional oil production. The FTC has an opportunity to demonstrate objectivity in fulfilling its mission to ensure competitive markets for consumer benefit, provided it resists political pressure.
- Researchers at Sandia National Laboratories are investigating subterranean storage options for hydrogen, partnering with the U.S. Department of Energy to explore using depleted natural gas or petroleum fields. Their study, led by Tuan Ho, suggests that clay-rich caprock in depleted reservoirs could effectively contain stored hydrogen, offering promise for large-scale storage solutions. Field tests are planned within the next few years to validate these findings and demonstrate the feasibility of underground hydrogen storage. Read More
Shell Canada seeks to progress its carbon capture and storage project in Alberta but faces delays due to pending federal investment tax credits crucial for major investments. Despite ongoing discussions, regulatory incentives have not been finalized, hindering Shell’s plans and potentially diverting capital elsewhere. These incentives are deemed critical for advancing projects like Polaris-Atlas, vital for Canada’s decarbonization efforts in the oil and gas sector. Shell Canada emphasizes the importance of timely implementation of incentives to create a competitive value proposition for the company. Read more
