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Consumption

When will oil demand peak?

The two-year oversupply of oil appears to have passed following an agreement by Opec and non-Opec countries to reduce production by 1.8m barrels a day (mb/d). But in the future will we need all the oil which is produced? Slowly, technology is impacting energy consumption patterns and fast growth in renewable energy could disrupt oil demand. Already, technological change has devastated the coal industry where hydraulic fracking produces gas much cheaper than coal. Recently, in the US, Michigan State has passed a law allowing driverless cars to be trialled on its roads and Uber is trialling self-drive cars in Pittsburgh. The Paris agreement on climate change is designed to limit global warming to below 2 degrees and it came into force in November 2016. With rising carbon dioxide emissions and fears about global warming, will the rapid adoption of electric powered cars be ...

Public Policy

Trump’s Advisers Draft First-Day Energy Policy Changes

Aides to Donald Trump have drafted a list of environmental policy and energy-related changes that he could sign within hours after he is sworn in as U.S. President on Friday, Bloomberg reports, quoting two people familiar with the transition team’s plans. The list of immediate energy policy changes reportedly includes measures to rescind Obama’s orders that federal agencies take into account climate change when they give the go-ahead to pipelines or decide which areas should be open for drilling, Bloomberg sources say. In addition, Trump’s advisers are said to be targeting the social cost of carbon and are proposing to suspend the use of that metric until reviewed and recalculated. The transition team is also advising Trump to rescind an executive order from 1968 that gave the power to the State Department to determine if a cross-border pipeline and other energy projects serve ...

Production

Explorers in World’s Fastest-Growing Oil Market Seek Tax Breaks

Explorers in the world’s fastest-growing oil market are seeking lower taxes on crude produced domestically to encourage fresh drilling as India tries to reduce its dependence on energy imports. State-run Oil & Natural Gas Corp. and the biggest private producer Cairn India Ltd. want Finance Minister Arun Jaitley to at least halve the tax on crude oil production in the federal budget due Feb. 1. India surprised some explorers last year with its 20 percent levy on crude produced locally, moving from a fixed charge. Companies pay more now with crude near $50 a barrel than they did under the old system when it was double the price. “Globally, given the low oil price scenario, governments have provided incentives to stimulate and attract investments,” said Sudhir Mathur, interim chief executive officer at Cairn India. “In India, the cess rate of 20 percent ...

Former ITER Spokesman Confirms Accuracy of New Energy Times Story thumbnail

Former ITER Spokesman Confirms Accuracy of New Energy Times Story

From the ITER Web site: “At nightfall, when buildings, work areas, roads and parking lots light up, the ITER site looks like an alien spaceport. Drenched in the yellow glow of sodium lights, with its cranes reaching for the sky, the Tokamak Complex is like a launch pad minutes before a shuttle’s departure; towering above, the Assembly Hall resembles a giant hangar for some mysterious spaceship bound for the confines of the galaxy.”   On Jan. 12, 2017, New Energy Times published “The Selling of ITER,” which reported that the largest fusion research project in the world, the International Thermonuclear Experimental Reactor (ITER), may have been sold to the public and elected officials using misleading information. In a telephone interview on Jan. 18, Michel Claessens, the former head of communications for ITER, confirmed that the Jan. 12 New Energy Times ITER article ...

Consumption

The Emerging Markets Consumer

By Karl Desmond Three billion people entering the middle class1 and $30 trillion of annual consumption by 20252 – these are two numbers that summarize the drastic demographic and economic shift currently happening in emerging market countries and what McKinsey & Co. has called, “the biggest growth opportunity in the history of capitalism.” 2 The Dow Jones Emerging Markets Consumer Titans 30 Index is comprised of 30 of the largest and most liquid emerging market consumer companies that are poised to benefit from these changes. Consistent Outperformance The emerging market consumer is not a new theme and since the inception of the Dow Jones Emerging Markets Consumer Titans 30 Index (1/8/2010), these companies have outperformed broader EM indices. Over 3-year rolling return periods (rolled monthly), the Dow Jones Emerging Markets Consumer Titans 30 Index has consistently outperformed both the MSCI EM Index and ...

Socialism, Not Oil, Is The Cause Of Venezuela’s Problems thumbnail

Socialism, Not Oil, Is The Cause Of Venezuela’s Problems

Venezuela’s economy has collapsed. Unfortunately, most people mistakenly believe Venezuela’s policies created a successful economy prior to the collapse in oil prices. The truth is that Venezuela’s socialist policies held back its economy during the oil boom and are the direct cause of its economic collapse today. Upon Hugo Chavez death in 2013, and before the collapse in oil prices, Salon published an article titled “Hugo Chavez’s Economic Miracle” that praised the success of his brand of socialism. Salon was far from alone. Numerous left-leaning pundits and celebrities, and even some very influential economists, have held up Venezuela as a rare example of a successful socialist economy. For example, in a 2007 speech sponsored by the Bank of Venezuela, Joseph Stiglitz — 2001 recipient of the Nobel Prize in Economic Sciences and former senior vice president and chief economist of the World ...

Production

OPEC Faces Headwinds From Rising Non-OPEC Production

OPEC is facing headwinds with rising production from rivals, the International Energy Agency said Thursday, the latest warning that OPEC’s efforts to take barrels out of the market could backfire. The Organization of the Petroleum Exporting Countries—the 13-nation oil cartel that controls over a third of global crude production—promised to… www.wsj.com

Enviroment

World’s primates facing extinction crisis

Gorillas, monkeys, lemurs and other primates are in danger of becoming extinct, and scientists say it’s our fault that our closest living relatives are in trouble, a new international study warns. About 60 percent of the more than 500 primate species are “now threatened with extinction” and 3 out of 4 primate species have shrinking populations, according to a study published in Wednesday’s journal Science Advances . While scientists had tracked dwindling numbers of individuals and groups of primates in forests around the world, this is the first big-picture look. The result was “a bigger wake-up call” than previously thought, said researcher Paul Garber of the University of Illinois. “The outlook is not very good,” said Garber, who recently returned from the jungles of Brazil studying marmosets. The decline has been blamed on human activities including hunting, mining and oil drilling. Logging, ranching and ...

Will The CIA Assassinate Trump? Ron Paul Warns Of “More Powerful, Shadow Government” thumbnail

Will The CIA Assassinate Trump? Ron Paul Warns Of “More Powerful, Shadow Government”

It isn’t just that Donald Trump routinely thumbs his nose at the establishment, insults media figures he sees as unfair and bucks conventional wisdom. It is that President-elect Trump is defying the will of the deep state, military industrial complex base of ultimate power in the United States. That is why he is treading dangerous waters, and risks the fate of JFK. Trump publicly dissed the intelligence community assessments on Russian hacking; they retaliated with a made up dossier about the alleged Trump-Putin ‘golden shower’ episode. Russians have compromising footage of Donald Trump paying prostitutes to piss on a bed #GoldenShowerGatehttps://t.co/AdQGhE2y06 — Loco Goose (@CrazyGoose) January 11, 2017 While it may be a silly falsehood, it may also be serving as a final warning that they get to script reality, not him. Perhaps they want Trump to feel blackmailed and controlled by alluding to fake dirt, ...

Production

OPEC’s Production Cut: Who Will Cheat First?

There was one significant part of last year’s OPEC deal that was absent, and it may prove to be its undoing. Just weeks into the deal and days from a first inspection, there are rumours not everyone is playing by the rules. On the face of it, reports are positive. Output fell in December from a record high, the result of planned cuts and forced cuts- Nigeria was not able to export any Forcados crude after a pipeline was attacked. However, several reports raise concerns about Iraq reneging on the deal, with the Wall Street Journal talking of ‘an unexpected twist’: “instead of cutting its crude production by 4 percent as promised … Iraq instead plans to increase crude oil exports in January.” Investors.com quotes Omar Al-Ubaydli from George Mason University who believes that it’ll be the first to cheat as “Baghdad ...

How I Survived Collapse: Chapter 11 thumbnail How I Survived Collapse: Chapter 11
The dinner with Kirsten had really thrown Kenny for a loop.  He still couldn't ...
Public Policy The Church of England Conditionally Backs Fracking
The Church of England has conditionally backed fracking in the UK but warned that ...
Expert warns of Arctic drilling risks thumbnail Expert warns of Arctic drilling risks
A highly acclaimed Oxford professor who’s considered an expert on energy research has thrown ...
BP predicts “peak oil” will hit between 2025 and 2040 thumbnail BP predicts “peak oil” will hit between 2025 and 2040
Oil major BP has outline six main trends which could “shape the future” of ...

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