Libya Producing 363,000 Barrels per Day

Oil output from Libya, where ports and oilfields have been shut due to fighting, has fallen to 363,000 barrels a day with exports at about 200,000, the oil minister appointed by forces in control of the capital Tripoli told Reuters. Two governments allied to armed factions are vying for control of Libya four years after […]

Falling Oil Prices Won’t Hurt Clean Energy

The price of crude oil has crashed in the past few months. That’s bad for the clean energy sector, right? Actually, not necessarily. Not only do falling oil prices have limited impact on clean energy, but the latest price volatility only underscores how unstable petroleum sources remain and so accentuates the value of clean sources. There are two […]

Colombia looks to reverse the drop in its oil production

Better terms. More hand-holding. Accentuate the positive. And promote unconventional and offshore energy. That’s the advice that Orlando Cabrales gives his former employer, the Colombian government, in its efforts to lure oil companies that lately have been turned off by the country’s mounting red tape, social unrest and oil field violence. Producer disenchantment was a […]

Robert Rapier: Why $50 Oil Won’t Last

In the past few weeks I have received numerous questions about the role of a “drop in demand” in the oil price decline. These questions are driven by many stories in the media that have referenced a drop in demand. There are two primary reasons given for this so-called demand drop. One is that years […]

Argentina: Best Candidate for Next Shale Boom?

A conversation about Argentine shale prospects is rarely loud enough to be heard. Instead, the oil and gas industry discusses at the length the outlook for U.S. shale. Of course, the key question about shale today is: how it will fare given the slumping price of oil? The answer is of critical importance to energy […]

Worldwide Drilling Productivity Report

The EIA publishes what they call a Drilling Productivity Report in which they claim that each rig is getting more productive, that is each rig produces just a little more oil each month than it did the previous month. But over the long haul, I find that the exact opposite is true. In every place in […]

Boston leaking $90 million worth of natural gas

It is no secret the networks of aging underground pipes in many big cities can be dangerous. Now, a new study has found they are also bad for the environment. Focusing their attention on Boston, a group of Harvard researchers writing in current issue of the Proceedings of the National Academy of Sciences found that […]

Low prices to delay ‘peak oil demand’ past 2030

The recent rout in oil prices could delay the onset of “peak oil demand,” or zero global demand growth, by around five years to beyond 2030, Bank of America Merrill Lynch (BofA) said. The bank had earlier expected that the continuation of high oil prices above $100 per barrel since 2011 would result in peak […]

Lessons from the Soviet Collapse: A Conversation with Dmitry Orlov

“They can’t really grasp the fact that everything they’ve built has stopped working, because their ideology forbids them from doing it. So that’s identical with what was going on in the Soviet Union.” -Dmitry Orlov LISTEN TO THE SHOW Length (59:24) Click to download the audio (MP3 format)  On the Global Research News Hour this […]

200 million people moved to cities in East Asia in decade

Almost 200 million people in East Asia moved to urban areas in the decade to 2010, the World Bank said Monday, creating a massive challenge to the region’s planners. About 36 percent of people in the region — which under the World Bank’s definition includes Northeast and Southeast Asia — were living in urban areas […]

Should the euro zone really fear deflation?

* Euro zone inflation negative in Dec for first time in 5 years * Debt deflation, raised real interest rates key concerns * “Good” and “bad” deflationary periods * QE’s impact on euro leads to higher import prices   If the multi-billion dollar consumer electronics industry can function fine with constantly falling prices, why is […]

The real story behind Saudi Arabia’s oil games

The near $50 drop in oil prices since June has led to rampant speculation about Saudi Arabia’s master plan. As the world’s biggest producer of crude oil, Saudi Arabia has a lot of influence on prices. One theory is that the Saudis are intentionally crashing oil markets to undermine Iran. The implication is clear: Saudi […]

Peak Oil, World Oil Production Decline Acknowledged

John Hofmeister, Founder & CEO, Citizens for Affordable Energy and Joshua Saks, Legislative Director, National Wildlife Federation discuss the XL Pipeline Hofmeister, the former president of Shell Oil, acknowledges what perilously few in the general public know or choose not to accept which is that Peak Oil is real and it is here now. The […]

To Change Everything: An Anarchist Appeal

A video collaboration with CrimethInc. To Change Everything: An Anarchist Appeal If you could change anything, what would you change? Would you go on vacation for the rest of your life? Make fossil fuels stop causing climate change? Ask for ethical banks and politicians? Surely nothing could be more unrealistic than to keep everything the […]

Yemen risks disintegration as south rejects Shi’ite group’s takeover

No sooner had Yemeni President Abd-Rabbu Mansour Hadi announced his resignation than his country’s tenuous political fabric began to disintegrate. Provinces across a nation barely held together by a complex web of tribal and religious alliances said they would no longer take military commands from Sanaa after the Iranian-allied Shi’ite Houthi group besieged Hadi’s home […]

SOU Reboot

“I want Americans to win the race for the kinds of discoveries that unleash new jobs – converting sunlight into liquid fuel; building the next generation of sailing ships; creating revolutionary prosthetics, so that a veteran who gave his arms for his country can play catch with his kid; and undertaking the vital work of […]

nuclear fusion and the promise of a brighter tomorrow

The countryside of Saint-Paul-lez-Durance in Provence is a serene terrain of thickly wooded hills. On chilly January mornings, the air becomes thick with mist and the sky glows red as the sun pokes up above the horizon at dawn. By mid-morning, that haze is usually gone, leaving behind a bright blue sky with only the […]

Power breakdown plunges Pakistan into darkness

Pakistan was plunged into darkness after a key power transmission line broke down early on Sunday in an incident blamed on a rebel attack, the latest reminder of the country’s crippling energy crisis. The power failure, one of the worst Pakistan has experienced, caused electricity to be cut in major cities throughout the country, including […]

Report highlights how natural gas “fracking” is causing earthquakes

North-central Texas is experiencing a surge in earthquakes like never before, and a recent study says the cause could be natural gas hydraulic fracturing, a process more popularly known as “fracking.” The liquid waste left over from pumping natural gas out of the ground is apparently greasing little-known fault lines in the region near Dallas-Fort […]

Iran announces record gas production

Iran said on Saturday that it has been able to produce a total of 105 million cubic meters of sweet gas per day (mcm/d) from five prioritized projects in the country’s energy hub of South Pars from June 2013.     The National Iranian Oil Company (NIOC) said the projects – phases 12, 15&16, and […]

Hype, Broken Promises, and Shales

The term shale revolution has been used so much that it almost has no meaning anymore. But were shales ever really the energy panacea promised or merely a self styled hype machine? Would the frenzy in drilling ever have truly taken off if it weren’t for cheap money? These are valid questions which have not […]

Oil Dinosaurs Face Extinction: State Oil Companies And The Meteor-Strike Of Low Oil Prices

State-owned oil companies that don’t slash expenses to align with revenues and boost critical investment in the infrastructure needed to maintain production will suffer financial extinction. Domestic and international energy companies are responding to the 50% decline in the price of oil by doing what’s necessary to remain in business: they’re slashing payroll, postponing capital investments, […]

Pickens: Producers can’t keep drilling at $45 oil

Energy tycoon Boone Pickens predicted on Friday that oil prices would be back near $70 or $80 a barrel by the fourth quarter of this year. Oil producers in West Texas and North Dakota “can’t drill for $45 oil,” Pickens said on CNBC’s “Street Signs.” “In the last 30 days they’ve dropped 300 rigs…. You’re […]

President Barack Obama to pay respects to new Saudi King

U.S. President Barack Obama will travel to Saudi Arabia on Tuesday in order to meet and pay his respects to the newly appointed monarch, King Salman, and the family of the late King Abdullah, the White House said Saturday. Saudi Arabia’s order of succession explained 02:15 PLAY VIDEO Vice President Joe Biden was originally to […]

How we went from peak oil to too much oil

It’s not the worry we’ll run out of fossil fuels that’s the problem any more. Quite the opposite. Al Gore at Davos: “Companies are insisting on their right to use our atmosphere as an open sewer.” A third of oil reserves, half gas reserves and over 80% of coal must remain in the ground. If […]

Saudi Arabia’s Succession Line Is Set, but the Nation’s Path Remains Uncertain

Saudi Arabia’s new king moved with unprecedented swiftness on Friday to appoint not only the heir to his throne but the heir to his heir as well. If all proceeds according to plan — as most Saudis and some analysts assume it will — the chain of succession dictated by King Salman after the death […]

OPEC Crude Oil Production, What’s Next?

The latest OPEC Monthly Oil Market Report is out with OPEC production data for. The data is “Crude Only” and does not reflect condensate production. Also the charts, except for Libya, are not zero based. I chose to amplify the change rather than the total. All Data is in thousand barrels per day with the last data point December […]

Yergin: Peak Oil Is Followed by Glut

IHS Vice Chairman Daniel Yergin speaks with Bloomberg’s Tom Keen about oil prices. They speak at the World Economic Forum in Davos, Switzerland on “Bloomberg Surveillance.” How many victory laps? Do you feel like yes, i got it right? It is hard. Here, i remember people say you do not believe in peak oil. Not […]

The Saudi Succession: Its Impact On Oil, Markets And Politics

 As reported earlier, several hours ago Saudi Arabia announced that its 91-year-old King Abdullah had passed away, in the process setting off what may be a fascinating, and problematic, Saudi succession fight which impacts everything from oil, to markets to geopolitics, especially in the aftermath of the dramatic political coup in neighboring Yemen. As a […]

Mutiny Of The Soul

Depression, anxiety, and fatigue are an essential part of a process of metamorphosis that is unfolding on the planet today, and highly significant for the light they shed on the transition from an old world to a new. When a growing fatigue or depression becomes serious, and we get a diagnosis of Epstein-Barr or Chronic […]

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