2019’s Biggest Energy Headlines

The Top Energy Stories Of 2019

Robert Rapier, December 28, 2019 (Forbes)

“…[Oil demand] growth has been slowing somewhat lately, but the International Energy Agency (IEA) projects that 2019 demand grew by 1.0 million BPD, and 2020 demand growth will be 1.2 million BPD…As long as U.S. shale continues to grow [faster than oil demand growth], global supplies are deemed to be adequate and oil prices will continue to face headwinds…[In] 5-10 years, EVs will likely begin to make serious inroads into oil demand and oil prices may never recover…[The other] top energy stories of 2019 were: 1.] Attacks on Aramco oil facilities…[The temporary loss of over 5% of the world's oil production caused] a brief spike of nearly 20% in the price of oil…[2. Aramco’s initial public offering] traded at a valuation of $1.7 trillion, but quickly ran up to the $2 trillion value…

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…3. OPEC [cut] production to prop up [the] oil price…4. U.S. oil production [set] a new record of 12.8 million BPD…5. [Norway’s] fossil fuel divestment…[ExxonMobil won its] climate lawsuit…[Occidental’s] acquisition of Anadarko…[The U.S. Permian Basin passed Saudi Arabia’s] Ghawar to become the world’s biggest oil-producing region…Green New Deal…Greta Thunberg…Renewable capacity surpasses coal…[T]he trade war impact on ethanol…Russia's Floating Nuclear Power Plant…” click here for more

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