Stock Prices Sink in a Rising Ocean of Oil
January 25, 2016
HOUSTON โ The world is awash in crude oil, with enough extra produced last year to fuel all of Britain or Thailand. And the price ofย oil will not stop falling until the glut shrinks.ย The oil glut โ the unsold crude that is piling up around the world โ is a quandary and a source of investor anxiety that once again rattled global markets on Friday.ย As prices have dropped, the amount of excess production has been cut in half over the last six months. About one million barrels of extra oil is now being dumped on the markets each day.ย But that means the glut is still continuing to grow, and it could take years to work through the crude that is being warehoused, poured into petroleum depots or loaded onto supertankers for storage at sea.
The New York Times, Jan.15, 2016
Featuring:ย Scott Tinker, Director, Bureau of Economic Geology, Jackson School of Geosciences
Media Releases
The @guardian's @dpcarrington was with @UTGeophysics this summer reporting on a pioneering @UTAustin-led mission to explore Greenland's glaciers underwater.
Read his report here:
With @WHOI @UFGeology @RutgersDMCS @MarineInst @UTexasResearch
.@business spoke with the Jackson School's Jay Banner about how climate change and population growth are taking a toll on Texas' water.
โDemand goes way up, supply goes way down, which is not a sustainable future for Texas water resources,โ Banner said.
In the stacks:
The role of women in the history of geology / edited by C. V. Burek and B. Higgs. Geological Society, 2007. #geology #geologists #history