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Billionaires versus big oil thumbnail

Billionaires versus big oil

  A growing number of the world’s wealthiest people, From both ends of the political spectrum, are banding together to bet on new technologies that could displace fossil fuels. The one thing they have in common? They believe it will make them a lot of money. Ward McNally never intended to become a booster for clean tech. The great-great-great-grandson of the founder of the 159-year-old Rand ­McNally map company, he helped sell the family business in 1997. ­McNally, 43, is now the co-founder and managing partner of McNally Capital, a Chicago firm that advises wealthy families on their private equity investments. His focus is making money, not being green. But one day in 2010 a billionaire client who’d made his fortune in oil came to McNally with a problem. The client had invested in a clean-tech company to hedge his family’s core source ...

One Last Look At The Real Economy Before It Implodes: Solutions thumbnail

One Last Look At The Real Economy Before It Implodes: Solutions

All problems, all crises, have at least one solution, if not many solutions. There is no such thing as an unwinnable scenario. Some may not be smart enough or courageous enough to see it, but the solution is always there, waiting to be discovered. The only fight that cannot be won is the fight in which the enemy makes all the rules and we foolishly abide by those rules. Life is not a game of chess, and a man can choose to be more than a pawn anytime he has the guts to do so. In the past, I have likened the liberty movement to a rebellion against not just tyrants but the game itself - a group of people willing to walk away from the chess board and make their own rules. I stand by that assertion. However, simply walking ...

The Doomsayers Were Wrong about the BP Oil Spill thumbnail

The Doomsayers Were Wrong about the BP Oil Spill

Mother Nature heals herself. Five years ago this week, a blowout of BP’s Deepwater Horizon oil rig 40 miles from the Gulf Coast tragically claimed eleven lives and spilled 3 million barrels of oil from the damaged wellhead into the Gulf. It’s hard to forget the video images of thick oil gushing, day after day, into the region’s waters. It was a horrific accident that caused substantial damage to the ecology and commerce of the region. Gulf-area wildlife, portions of the shoreline, tourism, fishers and shrimpers, and energy-sector workers suffered large losses in the aftermath of the spill. BP has paid close to $27 billion in penalties, payments to aggrieved parties, and clean-up costs, in one of the largest payouts for an accident in American history. This is enough money to hand every man, woman, boy, and girl in Chicago or ...

Production

Saudi Arabia’s solution to global oil glut: Pump even more crude

Saudi Arabia has a response to the global surplus of oil: Raise output to near-record levels, and then pump even more. The world’s biggest oil exporter, having abandoned last year its role of keeping global markets in balance, now has incentive to maximize output and undermine rival producers by using its reserve capacity, according to Citigroup Inc. and UBS AG. Just meeting its own domestic demand this summer will require a lot more fuel, others estimate. The increase—a snub to fellow OPEC members calling on the kingdom to cut production—will heighten tensions when the organization meets in June. Oil plunged to a six-year low near $45/bbl in January, six weeks after the Saudis overcame opposition within the group to keep up output despite surging U.S. shale supplies. “Increasing production and exports is the clear implication of Saudi’s new oil policy,” Seth Kleinman, head ...

Business

The Last Two Oil Crashes Show Peak Oil Is Real

Summary Recent oil crashes show you the hard floor for gauging value oil company equities. Properly understood, the crashes lend an insight into the concept of Peak Oil. All oil equity investors should understand the overarching upward trend on display here. PLEASE NOTE: ALL prices used in this article are using current 2015 dollars, inflation adjusted using the US BLS inflation calculator Generally, when I invest, I try to keep my thesis very simple. Find good companies, with good balance sheets and some kind of specific catalytic event on the horizon. But when one starts to concentrate their holdings in a sector, as I have recently in energy (see my recent articles on RMP Energy (OTCPK:OEXFF) and DeeThree Energy (OTCQX:DTHRF) , you need to also get a good handle on the particular tail or headwinds that are affecting it. Sometimes a sector like oil (NYSEARCA:USO) ...

Is the Future Simply Advanced Energy? thumbnail

Is the Future Simply Advanced Energy?

“Fossil Fuels Just Lost the Race Against Renewables,” reads the hyperbolic headline from Tom Randall, writing for Bloomberg Business. “This is the beginning of the end,” the subhead piles on. This report of the death of fossil fuel-powered electricity generation may be exaggerated. But looking closely at Randall’s article, the triumph of advanced energy seems even more of a sure thing. The source of Randall’s hyperventilation (or the headline writer’s) is Bloomberg New Energy Finance founder Michael Liebreich’s keynote address at the annual BNEF New Energy Summit. There, Liebreich announced that, in new generating capacity installed globally in 2013, “clean” energy – including nuclear power, hydro, solar, wind, geothermal, biomass, and waste – edged out oil, coal, and natural gas, 143 GW to 141 GW. In BNEF’s forecast, the gap grows wider this year and beyond: 164 GW “clean” to 110 ...

Overview of Our Energy Modeling Problem thumbnail

Overview of Our Energy Modeling Problem

We live in a world with limits, yet our economy needs growth. How can we expect this scenario to play out? My view is that this problem will play out as a fairly near-term financial problem, with low oil prices leading to a fall in oil production. But not everyone comes to this conclusion. What were the views of early researchers? How do my views differ? In my post today, I plan to discuss the first lecture I gave to a group of college students in Beijing. A PDF of it can be found here: 1. Overview of Energy Modeling Problem. A MP4 video is available as well on my Presentations/Podcasts Page. Many Limits in a Finite World We live in a world with limits. These limits are not just energy limits; they come in many different forms: All these limits work together. We can work ...

Public Policy

How OPEC could lose the oil wars

The U.S. energy industry is clearly on its heels. Drillers are shutting down rigs, oil and gas firms are slashing jobs and plunging prices are gutting profitability, even at huge firms such as Exxon Mobil (XOM). But American drillers could ultimately benefit from the pressure to become more competitive. And OPEC, the oil cartel led by Saudi Arabia, may end up regretting its effort to push down oil prices and destabilize American drillers. “We’re wounded but we’re not dead, for sure,” Gary Evans, CEO of Texas-based driller Magnum Hunter Resources (MHR), tells me in the video above. “If their goal was to crush the US oil and gas industry, that isn’t going to happen. We are a very resilient industry.” But American drillers could ultimately benefit from the pressure to become more competitive. And OPEC, the oil cartel led by Saudi Arabia, ...

Thirty thousand square kilometers of land lost to oil and gas development thumbnail

Thirty thousand square kilometers of land lost to oil and gas development

All across North America, patches of land are being taken over by the rigs, roads, and storage facilities of thousands of oil and gas drilling operations. Now, for the first time, a study tallies up the land area they consume: 30,000 square kilometers—an area equivalent to three Yellowstone National Parks. “For all intents and purposes, these are parking lots,” says Brady Allred, an ecologist at the University of Montana, Missoula, who led the study, published online today in Science. “The question is: How long are they going to stay this way?” The authors acknowledge that there are benefits from the operations—namely, energy—and also that the lost land is a small fraction of North America’s total area. But they say the well sites are rarely remediated and replanted, and so the cumulative impact could begin to take its toll through the degradation of ...

Why We Need a Great Transition thumbnail

Why We Need a Great Transition

We confront an existential risk without historic precedent: human environmental pressures have reached such a pace and intensity that they may cross tipping points, irreversibly altering the state of the Earth system. As the human enterprise becomes more encompassing and interdependent, the prospect of achieving human well-being within the dominant development paradigm grows dim. However, an alternative sustainable development paradigm that pursues social, environmental, and economic goals separately would likewise prove inadequate. Instead, we need an integrated perspective to calibrate the operation of the human system so that it remains within safe parameters for a stable Earth system. The planetary boundary framework contributes to this new paradigm by delineating a safe operating space, in terms of the degree of human perturbation of environmental processes, consistent with maintaining the planet’s stability. The urgency of the challenges ahead demands a two-prong strategy: ...

The Biggest Problem Remains Over-Population thumbnail The Biggest Problem Remains Over-Population
Today, Earth Day, behooves all of us to give serious consideration on alleviating the ...
OPEC, Tight Oil and Russia thumbnail OPEC, Tight Oil and Russia
The OPEC Monthly Oil Market Report is out with OPEC crude only production numbers for ...
Peak Oil: Still The Problem And Not The Answer thumbnail Peak Oil: Still The Problem And Not The Answer
While all the buzz surrounds oil prices, the global demand side remains on solid ...
What Happens To US Shale When The Easy Money Runs Out? thumbnail What Happens To US Shale When The Easy Money Runs Out?
Today we will take a look at both Whiting Petroleum (WLL) and Continental Resources ...

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#peakoil Maui Celebration Of The Arts Showcases Authentic Hawaiian Culture - Forbes: ForbesMaui Celebration Of... tinyurl.com/pox95gv

#peakoil Billionaires versus big oil:   A growing number of the world’s wealthiest people, From both ends of t... bit.ly/1HE8THj

#peakoil ELECTION 2015: The High Peak parliamentary candidates on why YOU should ... - Buxton Advertiser: Buxt... bit.ly/1z51HB7

RT @CollapseNet: Automakers to gearheads: Stop repairing cars - comment by Rice Farmer: bit.ly/1Jp1Oed #peakoil #transition

Automakers to gearheads: Stop repairing cars - comment by Rice Farmer: bit.ly/1Jp1Oed #peakoil #transition