Issue Articles

Russia is a key component both of energy export and energy consumption--enough to focus an entire issue on this country alone. I'm enlisted the help of my colleagues Yiannis Mostrous and Roger Conrad to provide a more well-rounded profile on the country, including its political background and commodities market. Read More

Crude oil prices have fallen nearly $10 in the past two weeks, but this temporary downdraft will be nothing more than a blip on the radar screen. In prior issues, I’ve examined some of the sectors most leveraged to the long up-cycle in spending on exploration and development, including oil services and equipment stocks. In this week’s issue, I’ll take a look at another sector: engineering and construction (E&C). Read More

The big, integrated oil companies are the most recognizable faces of the energy industry. Every time gasoline prices rise above $3 in the US, it’s the CEOs of these firms who get dragged before Congress to explain what’s going on. Many seem to assume that it’s the Super Oils that control the global energy markets, but in truth, they control only a tiny part of the world’s reserves of oil and natural gas. What the integrateds do offer is relative safety and stability. Read More

Although the price of crude continues to rise, other sectors in the energy patch haven't necessarily fared as well. But the outlook is positive for coal miners as we gear up for more normal winter temperatures this year, and international drilling is still going strong. Read More

Natural gas prices in the US remain well off their 2005 post-hurricane highs. And gas drilling activity in North America has remained subdued because of weak prices, rising drilling costs and bloated inventories of gas in storage. But this short-term reality obscures the long-term growth to come from the gas market. Read More

The third quarter brought plenty of volatility for the US and most global stock markets. In particular, a general credit scare gripped the market in late July. The epicenter of that scare was mortgage-related debt focused on subprime borrowers; however, the general panic spread, making it difficult for even higher-quality corporate borrowers in totally unrelated industry groups to garner access to capital... Read More

For much of the past week and a half, I’ve been on the KCI Communications, Inc. cruise down the Danube River in Central Europe. As part of this trip, I had the opportunity to meet US Embassy representatives, economists and fund managers primarily in two cities: Vienna, Austria, and Budapest, Hungary. Read More