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Closer Cuba ties could present oil opportunities later

With President Barack Obama’s decision to normalize relations between the United States and the island nation of Cuba it is expected that many commercial opportunities will arise for Americans. Although this may be true for most private companies, U.S. oil producers are not expected to take full advantage of those opportunities.  Our very own Jorge…

Ecuador Plans Budget Cuts, New Debt as Oil Drop Saps Revenue

Ecuador plans to cut spending next year by as much as $1.5 billion after prices for the country’s oil fell to a five-year low. The country not only plans to cut spending and investment, but it will also use credit lines from multilateral lenders to offset the low oil prices. The government has said it…

The Jackson School of Geosciences

CNN Dinero, December 10, 2014 In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) released information regarding their 2015 forecast demand for their group’s oil.  For 2015 the demand will drop to 28.92 million barrels per day, that is 280,000 bpd less than previously forecast. Our very own Jorge Piñon spoke with…

Four university groups take part in leadership, accessibility, air systems and solar energy projects

Currently, four groups at The University of Texas at Austin are raising money to fund projects covering leadership, accessibility, air systems and solar energy. The four groups are the UT Solar Decathlon team, McCombs Leadership Program Global Service Trip, Unmanned Aerial Vehicle team, and the UT Student accessibility project in Nicaragua. UT students and students…

Latam countries launch plan to store carbon, fight global warming

On Sunday, eight Latin American countries announced an initiative to cut emissions that cause global warming. The initiative involves restoration of 20 million hectares of forest and farmland in order to use the land to store carbon in natural vegetation. The eight countries involved are Argentina, Columbia, Chile, Costa Rica, Ecuador, Guatemala, Mexico and Peru….

Mexico’s Pemex to boost fuel output by nearly 70 pct at Tula refinery

Pemex announced on Wednesday its plans to boost gasoline diesel output by almost 70 percent at the Miguel Hidalgo refinery. This boost will result from a $4.25 billion upgrade that is expected to be completed by the beginning of 2018. by David Alire Garcia, Reuters, December 3, 2014 Dec 3 (Reuters) – Mexico’s state-owned oil company…

Here’s a tip for Venezuela

Here’s a tip for Venezuela

If Venezuela wants to make a comeback from their recent struggles, President Maduro must put the interest of the Venezuelan people, not ideology first, and do what is best for the country. by Houston Chronicle, December 5, 2014 The dramatic fall in oil prices is likely to cool off the booming Texas economy, but in…

Venezuela default risks spike

Venezuela default risks spike

The drops in oil prices has left Venezuela struggling financially, making default a real possibility, unless the government changes its ways. Piece-meal attempts at addressing fiscal shortfalls may allow the country to slide by short term, but long term solutions need to be found. by Paul Kilby and Davide Scigliuzzo, Reuters, December 5, 2014 NEW YORK,…

Petrobras, Eletrobras Win $1.23 Billion Contracts to Sell Power

At an energy auction in Brazil, PETR4 and ELET6 won contracts to sell almost 17,400 gigawatts-hours of electricity. The two companies will receive $1.23 billion under three-year contracts. The contracts will take effect at the start of 2015. by Vanessa Dezem, Bloomberg, December 5, 2014 Petroleo Brasileiro SA (PETR4) and Centrais Eletricas Brasileiras SA (ELET6) won…

China-Latin alliance could set tone for Lima climate summit

At the current U.N. summit in Lima, Peru, negotiations are underway to produce a new draft climate agreement that will be finalized in Paris next year. All countries involved are expected to put forward national contributions to the effort, including a reduction in greenhouse gas emissions. by Guy Edwards and Sophie Purdom, RTCC, December 5, 2014…

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