Tuesday, 9 December 2008

Countdown's Begun - Ozzy Osbourne (2007)

It's that time when many offer the year’s top stories. The energy sector is not immune. I came across a Platts poll asking for the top 10 oil industry stories of 2008. To help sort things out, there are 44 headlines to choose from.

I thought I'd give it a try. Here are my picks:

10. Chicago Mercantile Exchange acquires NYMEX

9. Ethanol’s struggles: VeraSun bankruptcy, others barely profitable, spreads collapse

8. Shale gas supply in US surges, a new factor in supply/demand balance

7. OPEC, first time in years, implements deep cuts to output

6. Push begins to lift offshore drilling ban in US; Obama and McCain differ on approach

5. Brazil subsalt finds continue to lift nation's upstream profits

4. Capital crunch and low prices lead to deferred investment

3. Credit crunch slows activity for once free-wheeling traders

2. Prices collapse below $40 in 2H as demand retreats

1. Crude prices soar in 1H, WTI tops $147, Brent right behind

So do you agree or disagree? Feel free to share your own list. What other energy stories would you consider to be in the top ten whether they are related to oil, gas, power, renewables, trading, hedging or risk management?

Jobert E. Abueva
Global Marketing Director

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