The U.S. Energy Information Administration just raised its 2027 U.S. crude oil production forecast to a record 14.3 million barrels per day. On paper, that looks like good news for American energy security. In the real market of September 2026, it is only half the story. Oil prices are back above $100 a barrel this […]
Continue Reading
Saudi Arabia has told OPEC that its crude production collapsed again in August 2026, falling 1.9 million barrels per day to 6.238 million b/d—the lowest level the kingdom has reported since 1990, at the outset of the Gulf War. Riyadh attributed the drop to renewed U.S.–Iran hostilities that squeezed its export routes. That official communication, […]
Continue Reading
How high they go from here, and how long they stay elevated, depends less on crude alone than on a global refining system that is already running near its limits. Energy analyst John Kemp noted Wednesday that the combined cost of U.S. crude and refining margins is now higher than in early April. So far […]
Continue Reading
Late last month, Prime Minister Mark Carney pulled Canadian negotiators from the table and walked away from what the White House called the most preferential market access any country had received. The United States had proposed deep cuts on steel, aluminum, autos, lumber, and more. Carney rejected it. On September 8, Canada’s dollar-for-dollar retaliatory tariffs […]
Continue Reading
The war that began on February 28, 2026, with U.S. and Israeli strikes on Iran, and Iran’s subsequent campaign against tanker traffic in the Strait of Hormuz, has forced the largest rewrite of global oil trade routes in decades. Pre-war, roughly 20 million barrels per day of crude and products moved through Hormuz. Flows have […]
Continue Reading
U.S. Central Command struck three Islamic Revolutionary Guard Corps-linked crude oil tankers on September 5 after Iran fired ballistic missiles at two U.S. Navy warships in regional waters. The American ships evaded the attack. No U.S. personnel were harmed. Tehran’s shadow fleet paid the bill. That is the energy war in one exchange: Iran shoots […]
Continue Reading
President Donald Trump’s late-August 2026 arrangement with North American Blue Energy Partners (NABEP) grants the company 100-year rights over 17 fields in Lake Maracaibo and the Orinoco Belt, holding an estimated 65 billion barrels—about one-fifth of Venezuela’s proven reserves. NABEP plans as much as $100 billion in infrastructure investment. The U.S. government receives rights to […]
Continue Reading
The September 2, 2026 sit-down with Tyler Kendall came the same day Chevron announced updated joint-venture agreements with PDVSA. The company will invest more than $7 billion over five years across three existing ventures, add acreage in the Orinoco Belt’s Carabobo area, and target more than 600,000 barrels per day of production—more than triple the […]
Continue Reading
This is a Joint Podcast with David Blackmon, and Stu Turley on both podcast platforms. The Jones Act: America’s Self-Inflicted Economic Wound In this episode of the Energy Newsbeat Podcast, hosts Stu Turley and David Blackmon sit down with Colin Grabow, Associate Director of the Cato Institute’s Herbert A. Stiefel Center for Trade Policy Studies, […]
Continue Reading
The pacts target higher crude output from existing and new acreage under Venezuela’s reformed hydrocarbons law, separate from the larger U.S.-backed North American Blue Energy Partners (NABEP) arrangement announced days earlier by President Trump. Wright described the package as “tens of billions” in investments and a “transformation for Venezuela.” Rodríguez credited Trump administration efforts for […]
Continue Reading