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The European Commission Unveils Its Energy Union Plan thumbnail

The European Commission Unveils Its Energy Union Plan

Summary Europe may be on its way to finding long-term relief from dependence on Russian energy. The European Commission on Feb. 25 released its Energy Union Package of proposals designed to continue developing the bloc's energy market and energy security. The proposals, meant to establish a European Energy Union, are more a continuation of EU energy policies than a radical departure from them. The proposals will not substantially decrease the energy supplies flowing from Russia to Europe, but they will continue to erode Moscow's ability to dictate prices in European markets — a tool Russia often uses to achieve political ends. Some of the broader initiatives, such as the greater harmonization of energy markets, will conflict with some member states' core national interests, weaking progress on these fronts.  Analysis The Energy Union Package can be thought of as a successor to the Third ...

Oil and Money thumbnail

Oil and Money

Talking about the "concentration of wealth" is only part of the ''what's wrong'' story. The main part of the story is (1) OVERPOPULATION and (2) the decline in most natural RESOURCES. The world's POPULATION is 7.2 billion -- three times what it was in 1950. According to the UN, the population will rise by at least 1 to 3 billion more in the next few years. (Even here in Canada the same increase is found – Canada's population has tripled since 1950. Yet so often I can't get through the day without encountering someone informing me that Canada is in great danger from ''depopulation'' – leading to the ''proof'' that we must maintain the highest per-capita immigration rate among the leading industrialized countries.) RESOURCES -- the big one is oil (petroleum). Everything in modern civilization is based on oil. We use 30 billion ...

Iran-Pakistan gas pipeline not abandoned thumbnail

Iran-Pakistan gas pipeline not abandoned

The Pakistani commerce minister says the country has not abandoned the Iran-Pakistan (IP) gas pipeline project, which is scheduled to provide Pakistan with Iranian natural gas. Pakistan will pursue the IP project after the removal of anti-Iran sanctions, the Express Tribune quoted Khurram Dastgir Khan as saying in a Saturday report. “A gas pipeline that is going to be laid from [the Pakistani port city of] Gwadar to [the port city of] Nawabshah can be extended by 11 kilometers to Iran,” the minister said. Iran and Pakistan signed an agreement for the construction of the gas pipeline in 1995. Later, Iran made a proposal to extend the pipeline from Pakistan into India. In February 1999, an accord between Iran and India was signed. But due to the US pressure, India withdrew from the project in 2009. Iran has already built its 900-kilometer share of the ...

Venezuela: A Closer Look at the Oil Economy of Venezuela thumbnail

Venezuela: A Closer Look at the Oil Economy of Venezuela

Venezuela contains some of the largest oil and natural gas proven reserves in the world. In 2013, Venezuela was the third-largest exporter of crude oil to the United States. It consistently ranks as one of the top suppliers of crude oil to the United States. Venezuela was the world’s 9th largest exporter and 12th largest producer of petroleum and other liquids in 2013. At 2.49 million barrels per day (bbl/d) of petroleum and other liquids produced in 2013, Venezuela is the world’s 12th largest producer and the 5th largest producer in the Americas. Venezuela’s Orinoco Belt may contain upwards of 513 billion barrels of crude oil. However, much of the resource is heavy and requires additional capital to bring it to market. Venezuela was the fourth-largest supplier of imported crude oil and petroleum products to the United States in 2013. However, Venezuela’s exports to ...

General Ideas

Why Peak Oil Predictions Haven’t Come True

I’ve written about the myth of “peak oil” for at least eight years — every year brings new evidence against the prophecies of the doomsayers and yet every year their faulty premises require debunking. As I said in 2006 (“Oil is Well: The Shortage is a Myth, and Not a New One“): “The left consistently underestimates the power of human ingenuity — given sufficient price incentives — to devise new technologies which expand supply.” The principal resource underestimated in every single dire prediction is people — their intellect, creativity, and resilience. But of course, that other resource underestimated by so many of our friends on the left is the market: the legitimate desire of people to get ahead by solving other people’s problems. That desire incentivizes a level of creativity not often witnessed at, say, the Post Office. So here we are in 2015. What’s happening today? Just read Russell ...

The Fracking Bust Exacts Its Pound Of Flesh thumbnail

The Fracking Bust Exacts Its Pound Of Flesh

Breathtaking booms and obliterating busts have made the oil and gas business. Booms draw money, which begets more money, which allows for technologies to be invented or perfected, and it builds enthusiasm that turns into blind faith among investors, and they throw more money at it. The money gets drilled into the ground. The debt remains on the balance sheet. Production soars. Demand doesn't keep up. Storage levels rise. The price begins to plunge. And all hell breaks loose. The fracking bust didn't start last summer when the price of oil began to skid. It started in October and has progressed with phenomenal rapidity. In the latest week, according to Baker Hughes, which publishes the data every Friday, drillers idled an additional 33 oil rigs. Only 986 rigs were still active, down 38.7% from October, when they'd peaked at 1,609. In ...

Could the Moon Hold the Key to the World’s Energy Crisis? thumbnail

Could the Moon Hold the Key to the World’s Energy Crisis?

The worlds largest energy consumers are deeply aware of the urgency of addressing their energy trilemmas – how to balance energy security, energy equity (access and affordability) and environmental sustainability. Helium 3 might be the answer they are looking for. Over the last few decades, the world’s energy situation has been dominated by feelings of uncertainty and fear. Tensions loom as global energy demands are expected to increase eight-fold by 2020, parallel with rapid population growths, particularly in India and China. Powering economies the size of China by burning massive quantities of fossil fuels or increasingly relying on nuclear power is becoming extensively unsustainable and self-damaging. This is not to mention that oil production is expected to peak in the next decade. Alternative energy sources are becoming much more of a necessity than a mere alternative. What is Helium-3? On December 2, 1992, the ...

Consumption

Consumers Hungry for Bundled Energy Services

Smart energy services in the home are already wrapped up with home security settings. Intelligent light bulbs and smart thermostats are standard offerings as part of smart home packages, which are led by security. But people are ready for more, much more, according to new research from Parks Associates released at its Smart Energy Summit in Austin this week. Nearly half of homes with broadband in the U.S. would be willing to subscribe to a bundle of energy services for about $10 per month. Internet and HVAC maintenance were the most popular services to bundle with electricity services. “Bundling together a group of services can expand product pricing and drive recurring revenue,” Tom Kerber, director of home controls and energy research for Parks Associates, said in a statement. “In addition, consumers are receptive to new business models such as demand response programs ...

We Will Defend Our Religion With Our Blood thumbnail

We Will Defend Our Religion With Our Blood

The words offer chilling insight into the mind of a radical Islamist: “We will defend our religion with our blood.” Najmuddin Faraj Ahmad, known commonly as Mullah Krekar, was arrested on Thursday because of what he said in an interview with Norwegian TV station NRK. “When it comes to what happened in France, naturally I am happy that it happened,” Krekar said, referring to the deadly attack on the French satirical magazine Charlie Hebdo. That attack, which left a dozen people dead and was the beginning of further violence, was a response to the magazine’s publishing of cartoons of the Prophet Muhammad — and Krekar said it was justified. “The cartoonist has become an infidel at war, and therefore it is permissible to kill him,” Krekar said. “As he has trampled on our dignity, our principles and beliefs, so he must die. Anyone who does not ...

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Oil Import Dependence Not Aways Economic Disadvantage thumbnail

Oil Import Dependence Not Aways Economic Disadvantage

According to research by the Cologne Institute for Economic Research (Institut der Deutschen Wirtschaft Koeln) energy imports should not be “understood as a threat to the security of energy supply and an economic disadvantage” per se. The study – “Does Dependency Equal Vulnerability? Energy Imports in Germany and Europe” commissioned by UPEI et alia and authored by Hubertus Bardt, Esther Chrischilles, Michael Grömling, Jürgen Matthes – finds that conclusion simplistic and points out that energy supply security mainly depends on open (liberalized) and integrated markets. For the purpose of this article, the study’s second conclusion – i.e. “Germany benefits from the income of oil countries” – is more interesting because it may help limit use of the populist term ‘energy independence’ during the upcoming 2016 US presidential campaign trail. What the US should strive for instead is a healthy energy self-sufficiency ...

Business Global Oil Price Yardsticks Tell Different Stories
After dropping to close to a six-year low in January, the price of oil ...
Oil Smuggling Highlights Challenges in Shutting Down IS Finances thumbnail Oil Smuggling Highlights Challenges in Shutting Down IS Finances
In the span of one year, Islamic State militants made more than half a ...
Hundreds of illicit oil wastewater pits found in Kern County thumbnail Hundreds of illicit oil wastewater pits found in Kern County
Water officials in Kern County discovered that oil producers have been dumping chemical-laden wastewater ...
Kremlin: Ukraine has natural gas until Tuesday thumbnail Kremlin: Ukraine has natural gas until Tuesday
Gas tap for Ukraine may close without additional payments, Russia's energy minister says. (UPI ...

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