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Top related persons:
Lee Celano - 1 Joe Biden - 1 Biden - 1 Ryan Meyers - 1 Mrinmay Dey - 1 Nichola - 1 Michael Perry - 1
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Gulf of Mexico Port Fourchon , Louisiana Louisiana Gulf Mexico Western District Western District of Louisiana Central
Top related orgs:
REUTERS - 1 Chevron - 1 Biden - 1 Western - 1 Western District of - 1 Interior Department's - 1 of Ocean Energy Management - 1 American Petroleum Institute - 1

Search resuls for: "Lee Celano"


2 mentions found


☆ Oil companies sue U.S. over Gulf auction changes meant to protect whale
  + stars: | 2023-08-25 | by ( ) www.reuters.com   time to read: +2 min
Unused oil rigs sit in the Gulf of Mexico near Port Fourchon, Louisiana August 11, 2010. The suit is the latest dispute between the oil and gas industry and the administration of President Joe Biden over leasing federal lands and waters for energy development. The final sale notice included new restrictions on development meant to protect the endangered Rice's whale. Lease Sale 261 will be held on Sept. 27 and will offer approximately 12,395 blocks on approximately 67 million acres (27 million hectares) on the U.S. Outer Continental Shelf in the Western, Central, and Eastern Planning Areas in the Gulf of Mexico.
Persons: Lee Celano, Joe Biden, Biden, Ryan Meyers, Mrinmay Dey, Nichola, Michael Perry Organizations: REUTERS, Chevron, Biden, Western, Western District of, Interior Department's, of Ocean Energy Management, American Petroleum Institute, Interior Department, U.S . Outer Continental, Thomson Locations: Gulf of Mexico, Port Fourchon , Louisiana, Louisiana, Gulf, Mexico, Western District, Western District of Louisiana, Central
☆ Column: Recession will be necessary to rebalance the oil market
  + stars: | 2022-09-22 | by ( John Kemp | Thomson Reuters | John Kemp Is A Senior Market Analyst Specializing In Oil | ) www.reuters.com   time to read: +6 min
Restoring spare capacity to more comfortable levels will require a business-cycle downturn, which is why a recession or at least a serious slowdown is inevitable. RECESSIONS AS RESETSProfit-maximising enterprises do not intentionally invest in higher oil inventories or spare production capacity. Recessions in 1974, 1980, 2008 and 2020 all left oil production and consumption on a permanently lower trajectory than before. There is no recorded instance where spare oil production capacity rose when the global economy continued to grow strongly. It explains why inflationary pressures are cyclical, subdued in the immediate aftermath of a recession, when spare capacity is plentiful, then building progressively as the expansion matures and spare capacity erodes.
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