Rank the Top 10 Oil Stories of 2008
As I recover from a backlog of work, one of the stories I plan to write is a post covering the top energy stories of 2008. Around that theme, Platts just put up a request for reader input on the top oil industry stories of 2008. Their poll runs until Christmas:
Below is the way I would rank the Top 10. I had an easy time ranking the top five, but then it was more difficult to sort them out.
My top 10 oil industry stories of 2008:
- Crude prices soar in 1H, WTI tops $147, Brent right behind
- Prices collapse below $50 in 2H as demand retreats
- Ethanol’s struggles: VeraSun bankruptcy, others barely profitable, spreads collapse
- Push begins to lift offshore drilling ban in US; Obama and McCain differ on approach
- Capital crunch and low prices lead to deferred investment
- Shale gas supply in US surges, a new factor in supply/demand balance
- Credit crunch slows activity for once free-wheeling traders
- Diesel surges, gasoline/naphtha plunge; traditional cracks skewed
- Russian oil output to fall in 2008, first time in a decade
- Brazil subsalt finds continue to lift nation’s upstream prospects
A couple of options that weren’t on the list (I placed them in the suggestion box) were:
Feel free to share your own input. What other stories do you consider to be Top 10 material (not limited to the oil industry)?