Welcome to the Fuel Matters Blog

As global terrorism increases, the attacks on oil and gas facilities are at an increase as well. Cyber-attacks on the Industrial Control Systems (ICS) are on the rise. ICS’s can be anything from computer software all the way to the control system that regulates the valves on a pipeline. If a system is compromised, it has the ability to delay operations causing a significant loss for the company.

We live and work in an area where jobs have been created and sustained through the rapid increase of shale production.  “Pennsylvania’s abundant energy resources have spurred economic investment and brought jobs to the state. Studies have tallied nearly 322,600 jobs in Pennsylvania that provide nearly $23 billion in wages to Pennsylvanians.”[1]  The numbers of created jobs are exciting for growth in Pennsylvania, but the state’s average poverty level still sits around 12.9%.  According to the U.S. Census Bureau, Washington and Greene counties have poverty levels of 10% and 15.3% respectively.  In two of the counties thriving from shale exploration, the poverty levels are still hovering around the state average. 

On September 17^th I wrote about "Relief at the Pumps," talking about lower gas prices are on the way. Since then retail gas prices have moved higher. In Pittsburgh, PA 87 grade Unleaded gasoline prices are now averaging $3.15 per gallon with a high of $3.239.

The U.S. typically sees a drop in gasoline prices as demand begins to tail off at the end of the summer travel season. This year is breaking the trend with gasoline prices sitting at their highest for the season since 2014, due in large part to the global oil price rally. AAA reports that the national price average was at $2.867 as of Wednesday, September 26th. Gasoline prices were 27 cents higher per gallon than they were at the same time last year, and this backwards trend could continue into the fall and winter seasons.

Crude prices have been surging the last few weeks with the expected loss of Iranian supply beginning November 4^th. With that, the U.S. has been ramping up pressure on OPEC to increase production in an attempt to lower oil prices.