Green Car Congress

DECEMBER 4, 2016

BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Oil production is expected to begin in late 2021. Today, the leaner $9-billion project, which also includes capacity for water injection, is projected to be profitable at or below current oil prices.

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Mexico Chevron Oil Oil Prices 150

Green Car Congress

FEBRUARY 3, 2015

Oil companies are scratching their heads trying to figure out how to deal with a collapse in oil prices, now below $50 per barrel. But now with rock-bottom oil prices, Statoil has even shelved Arctic drilling plans in its own backyard. That delayed drilling for several consecutive years. Shell announced $4.16

Oil 150

Oil Alaska Oil Prices 2015 150

Green Car Congress

FEBRUARY 19, 2015

It may be difficult to look beyond the current pricing environment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. Despite record levels of spending, the largest oil companies are struggling to replace their depleted reserves.

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Oil Prices Oil Price Iraq 150