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By Justin Mikulka, a freelance writer, audio and video producer living in Trumansburg, NY. Originally published at DeSmog Blog After over a decade of the much-hyped U.S. fracking miracle, the U.S. oil and gas industry is having to deal with years of losses and falling asset values which has dealt the industry a serious financial blow. This is despite the fracking revolution delivering record oil and gas production for the past decade, peaking in 2019. While the pandemic has hurt the industry, companies have also benefited from excessive bailouts from pandemic relief programs but these bail...

U.S. Executives Identify Natural Gas as Essential to Energy Transition Natural gas remains essential to the global energy transition, according to most U.S. executives, but many see a reduced or evolving role as renewables gain and the energy transition accelerates. That’s according to Deloitte, which recently issued its 2021 industry outlook after surveying a broad array of U.S. executives. Following the presidential election, the consultancy in November queried more than 350 executives in the energy, resources and industrials industries to get their take on the opportunities and the chall...

Oil and gas industry 'math' has been reset Dec. 28, 2020 FacebookTwitterEmail Deloitte’s Oil and Gas Industry Outlook 2021 finds oil supplies uncertain beginning in 2025 because of a decline in exploration spending, meaning storage tanks could be emptier five years from now.Plains All American Pipeline Energy companies can expect an uncertain path in 2021 as the COVID-19 pandemic has altered expectations for the near future. Deloitte LLP recently released its Oil and Gas Industry Outlook for 2021, and topping the outlook was discussion of an oil supply crunch. Duane Dickson, vice chairman a...

Analysis-U.S. shale oil just had its worst year and the pain could bleed into 2021 U.S. oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good. Deep spending cuts that came with the collapse in fuel demand and oil prices due to the COVID-19 pandemic have ended an era that put the U.S. atop the ranks of the world’s biggest producers. The shale industry will ring in the New Year pumping 7.44 million barrels per day (bpd), down nearly 20% from the beginning of 2020.

NationofChange “Does investing in oil and gas companies still make sense?” After over a decade of the much-hyped U.S. fracking miracle, the U.S. oil and gas industry is having to deal with years of losses and falling asset values which has dealt the industry a serious financial blow. This is despite the fracking revolution delivering record oil and gas production for the past decade, peaking in 2019. While the pandemic has hurt the industry, companies have also benefited from excessive bailouts from pandemic relief programs but these bailouts are a stop gap financial ba...