One of the odder inconsistencies in the global energy market is the fact that many energy rich nations are plagued by indigenous shortages.
 
Among them is Venezuela, which has the largest conventional oil reserves and the second-largest natural gas reserves in the Western Hemisphere and is the United States’ fourth largest oil importer, accounting for roughly 1.5 million barrels a day.

But in domestic energy policies President Hugo Chavez, leader of his self-proclaimed “Bolivarian revolution,” has stumbled badly in addressing…

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A global revolution is slowly transforming the world’s energy market, with traditional transnational fossil fuel conglomerates facing future changes that will transform their previously cozy environment, whether they like it or not.

Renewable energy, starved from the outset of funding, a foundling left at the door of the world’s rising energy needs, has reached adolescence and has begun to attract investment from beyond the traditional hydrocarbon-based market dominant companies.

Sez who?

PricewaterhouseCoopers.,…

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Nearly two years after the worst accidental offshore oil spill in the history of the energy industry, some of the biggest companies in the world are busy pointing their legal fingers at one another in court over who has to pay what in claims, damages and fines over the deadly Deepwater Horizon oil spill. A federal judge this week ruled that BP is still obligated to a clause in its contract with Transocean that would protect the rig owner from damages related to the spill. That means BP still has to shell out money to settle claims filed by those…

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March Natural Gas formed a dramatic closing price reversal bottom last week, setting up the market for a 2 to 3 week rally equal to at least 50 percent of the last break from 3.7410 to 2.2890. This retracement target price is 3.0150. Further upside momentum could drive the market into the 61.8 percent price level at 3.1860. A closing price reversal does not mean the trend has changed, but indicates that selling pressure has subsided.

The key to any closing price reversal bottom is the follow-through rally. A trade through 2.8380 will…

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Since gaining independence in July, Middle East and North African experts have expressed concerns that border conflicts and disputes over the sharing of oil revenue could threaten a very fragile peace deal between the two Sudanese governments. South Sudan last week said it wasn’t going to produce any more oil because the government in the north was suspected of pilfering. Talks ended Friday without an agreement between two Sudanese governments that accuse one another of stoking ethnic conflict in the border regions. A comprehensive peace agreement…

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