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Citizens Can Sue Fracking Companies for Earthquake Damage, Says Oklahoma Supreme Court thumbnail

Citizens Can Sue Fracking Companies for Earthquake Damage, Says Oklahoma Supreme Court

Oklahoma almost never used to have earthquakes. But in the last six years they’ve increased so much that last year the state surged past California as the most seismically active state in the continental U.S. Prior to 2009, the state averaged two quakes of greater than 3.0 magnitude annually. By 2014 that number had soared to 585, up from 109 in 2013. The culprit? Scientists are convinced it’s the wastewater injection wells that have accompanied the explosion of fracking in that state during the same time period. Oil and gas company New Dominion is Prague, Oklahoma’s biggest employer—and has been accused of causing damaging earthquakes from its wastewater injection wells. Photo credit: New Dominion Now the Oklahoma Supreme Court has cleared the way for citizens to sue the oil and gas companies responsible for the wells. In a 7-0 decision, with two justices ...

$75T in Shadow Banking Collapsing thumbnail

$75T in Shadow Banking Collapsing

Keep an eye on the shadow banking system – it is about to be shaken to the core.  According to the Financial Stability Board, the size of the global shadow banking system has reached an astounding 75 trillion dollars.  It has approximately tripled in size since 2002.  In the U.S. alone, the size of the shadow banking system is approximately 24 trillion dollars.  At this point, shadow banking assets in the United States are even greater than those of conventional banks.  These shadow banks are largely unregulated, but governments around the world have been extremely hesitant to crack down on them because these nonbank lenders have helped fuel economic growth.  But in the end, we will all likely pay a very great price for allowing these exceedingly reckless financial institutions to run wild. If you are not familiar with the “shadow ...

The End of the Oil Age thumbnail

The End of the Oil Age

Norman Pagett (The End of More) But how can we define an oil age? It has been about 150 years since the first deep oilwells were sunk, and just over 200 years since the viable steam engine was developed. The two are linked, because the steam engine made deep drilling of oilwells possible and gave us access to a hundred million years worth of fossilized sunlight. Perhaps we have not strictly had an oil age, but rather the first and only age where we enjoy vast amounts of surplus energy that we have extracted from hydrocarbon fuels, of which oil is the most energy dense. It has brought us material wealth, and the means to indulge in wholesale killing of each other and all other species. It gave excesses of food and a population that consumed that food and grew to ...

General Ideas

Peak Oil by Jay Hanson Pt 4.. money..

Peak Oil by Jay Hanson Pt 4.. money..

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Chile Elects to Revolt thumbnail

Chile Elects to Revolt

This week we take a look at the 6 plus year student revolt in Chile, plus ballot burning fury in Mexico and an interview with militants from Santiago who tell us about the anarchist scene there. On the music break we bring you Chilean rapper Portavoz with “Te Quieren”

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General Ideas

The Fourth Turning – An Interview With Neil Howe

Neil Howe is a historian, economist and demographer who writes and speaks frequently on generations, the economy and social change. He is America’s leading thinker on who today’s generations are, what motivates them and how they will shape the nation’s future. He has authored nine books on American generations, many co-authored with William Strauss, including Generations (1991), The Fourth Turning (1997), Millennials Rising (2000) and, most recently, Millennials in the Workplace (2010). In relation to The Fourth Turning, the Boston Globe wrote “If Howe and Strauss are right, they will take their place among the great American prophets.” He has also authored numerous books and policy reports on demographics, most recently The Graying of the Great Powers (2008). He is a senior associate at the Center for Strategic and International Studies, where he helps lead the Global Aging Initiative. He holds graduate ...

Rapid Expansion of Utility-Scale Solar in China thumbnail

Rapid Expansion of Utility-Scale Solar in China

Solar is taking over the Gobi Desert in China’s Gansu province. China is a difficult solar market to track from the outside. Government subsidies are opaque and bureaucratic, interconnection problems run rampant, and non-Chinese businesses often have a hard time getting into the country. There's no doubt that the Chinese PV market is growing at unprecedented speed. But determining its overall health is more of an art than a science. So perhaps the scientists can help. NASA recently published a fresh batch of satellite images of China's utility-scale solar boom in Gansu province. While they don't tell us much about market conditions on the ground, they do illustrate the boom underway in the country. With ample sunshine and a wide-open desert, Gansu is ideal for PV project development. Last year, more than 5 gigawatts of projects were installed in the province, making it a leader. Below ...

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There will be blood thumbnail

There will be blood

WALL STREET loves a good scrap almost as much as the wildcatters who drill for oil do. No wonder that the fight over the finances of America’s shale-oil industry has turned nasty. In one corner are shortsellers, including David Einhorn, a hedge-fund manager whose scalps include Lehman Brothers. They argue that “fracking”—the business of blasting oil out of rocks using water, sand and chemicals—is a bottomless pit into which too much cash has been thrown. In the other corner are America’s oil pioneers, who say that shale can thrive even though the benchmark American oil price has dropped from over $100 a barrel last year to $57 today. The oilmen are backed by plenty of other investors who are still pumping money into shale firms: some $35 billion of equity and bonds has been raised since December. Both sides have a point. ...

As Saudis Keep Pumping, Thirst for Domestic Oil Swells thumbnail

As Saudis Keep Pumping, Thirst for Domestic Oil Swells

Saudi Arabia is poised to break records for oil production this summer, analysts said, as domestic-energy needs soar during its scorching summer and the holy month of Ramadan and threaten its ability to ramp up exports. Saudi Arabia has said it produced a near-record 10.3 million barrels a day in May, a mark that industry observers said could increase to 11 million barrels this summer as air-conditioning use increases with temperatures reaching 110 degrees Fahrenheit. The country has the ability to produce 12.3 million barrels a day for 90 days, but it has never pumped this much. Saudi output averaged 9.22 million barrels a day from 2006 to 2014, according to the U.S. Energy Information Administration. Most of its oil is exported. For the past three years, Saudi domestic energy demand has been rising by about 8% due to an expanding population ...

Consumption

Energy Shock: How Peak Oil Will Change Your Life

Oil, Cheap Oil has defined us, our economy, our nations, and our way of life. Everything centers around Oil! Oil is even required to manufacture and install alternative energy. The U.S. alone has a fleet of about 210 million automobiles and light trucks. Because of cheap oil, more than half of the American population lives in the suburbs.

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Geology Norway: New reserves found in North Sea
The Norwegian government confirmed Wednesday oil and gas reserves were discovered in a North ...
Consumption Remember When We Were Running Out of Crude Oil Storage?
Given the amount of air time the crude oil storage situation received back in ...
Is Saudi Arabia Leaving The U.S. Behind For Russia? thumbnail Is Saudi Arabia Leaving The U.S. Behind For Russia?
The news from the recent St. Petersburg Economic Forum, which took place from June ...
Why Use Compressed Natural Gas? thumbnail Why Use Compressed Natural Gas?
Why CNG? CNG is an abbreviation for Compressed Natural Gas. Compressed Natural Gas is exactly ...

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