Why aren’t US Oil Producers Drilling More as Prices Rise?

In a free market, the saying goes, high prices cure high prices. If some good or service costs a lot, people will see an opportunity to make money producing more of it, thus driving down the price. Reality is messier. Oil prices have now risen to $104 a barrel. But investments in producing more, as measured by the number of oil rigs actively drilling for oil and gas, have barely responded. Since oil prices bottomed out in the middle of 2020, they have nearly doubled, but the number of new rigs…

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NEPRA Clarification

A spokesperson for Nepra has brushed aside accusations against Chairman Nepra, Tauseef H Farooqi with regard to his appointment and other issues. According to spokesperson, in the recent past news were published in media wherein about numerous litigations against the Chairman NEPRA before different forums, clarifying that all those cases were frivolous and filed by habitual litigants for ulterior motives whatsoever, therefore, all cases has been dismissed. The spokesperson maintained that in spite of dismissal of other write petitions, one more Writ Petition tiled as Tanveer Ahmad v GOP &…

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Muddled affairs in NAB cases

The logical conclusion of cases and references especially those where high profile personalities are involved remains a far cry. The reference in question that was filed against former prime minister Syed Yusaf Raza Gilani, incumbent National Assembly Speaker Raja Pervaiz Ashraf and others related to the ‘illegal’ appointment of Tauqeer Sadiq as chairman of the Oil and Gas Regulatory Authority (OGRA), remains inconclusive. Lately, the National Accountability Bureau (NAB) has challenged the acquittal of Syed Yusaf Raza Gilani, Raja Pervaiz Ashraf, former federal secretaries Sikander Hayat Maken and Shoukat Hayat…

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Punjab seeks Power Division’s help for signing of EPAs

Ministry of Energy, Punjab has sought Power Division’s help for signing of Energy Purchase Agreements (EPAs) with four small hydropower projects established at different locations. Secretary Energy, Punjab, Amir Jan has written a letter to Secretary Power Division, saying the letter is in continuation of previous correspondence made on finalization and signing of EPA for hydropower projects being developed on canal falls in Punjab, with request to issue direction to nominating either the CPPA-G or the concerned Discos for signing of EPA. Renewable Energy Development Sector Investment Programme (REDSIP) envisaged…

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Solving the Energy Crisis is a “Now or Never” for Pakistan: The Future is Thar!

feeders

Meanwhile, many European countries have now considered shifting back to coal utilization as it is still considered one of the cheapest sources of energy production as the region also faces a ban on fuel and gas from the current Russian-Ukraine crisis. Similarly, Italy has also decided to reopen its coal-fired power plants to curb the energy gap due to the interrupted Russian supply. As other European countries follow suit, Germany agreed on providing a relief package to tackle rising energy concerns and has decided to increase its use of coal.…

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