Brazil Finds More Oil, And It All Goes To The Gov’t

The National Petroluem Agency (ANP) of Brazil found another “megareserve” in the Atlantic, this one off the coast of Sao Paulo.  It is believed to big as large as the so-called Lula oil field, which holds between five and 8 billion barrels of oil. Although the discovery is made in the pre-salt fields that stretch […]

Lithium, not oil and gas, the key investment for the future

Recent cooperation and a concerted effort against coal consumption will usher in an era of dominance for one energy technology. It’s not oil, natural gas, or even solar and wind (although these still have a part to play). Instead, as the world transitions from the aggressive coal consumption left over from the industrial revolution, new […]

The Shale-Oil Boom is Over

It comes now from the US Energy Information Agency, and is headlined by Bloomberg Business, so yes, it’s official. As Bloomberg put it, “US Shale Boom Grinds to a Halt.” Which, actually, is overstating the case by a good bit, there isn’t going to be a “halt.” Nevertheless, as sane people everywhere have been insisting […]

Peak Oil in the Congressional record

Even the most ardent techno-optimists and economists admit there are limited supplies of fossil fuels, but that we don’t need to worry for a long time. It appears they have succeeded in convincing the government they’re right, because there are only 2 documents about planning for peak oil that I’m aware of at the federal […]

“There Could Be Trouble” As US Fracking Revolution Prepares to Go Global

A new report showing the U.S. overtaking Russia as the leading producer of oil and gas in the world should put to rest any doubt that the fracking revolution that has occurred in the U.S. is for real, or as BP’s chief economist put it, “profound.” And now with the recent Environmental Protection Agency report on […]

Peak Oilists are the new Flat Earthers

Apparently it is necessary to point out that Peak Oil doctrine is still wrong. Ronald Bailey explains Hubbert’s Peak Refuted: Peak Oil Theory Still Wrong.  He points out an author who has written multiple books defending Peak Oil. I just checked Amazon and can find four books from the mentioned author, written in 2001, 2005, […]

Energy Crunch – tectonic shifts

Three things you shouldn’t miss this week Chart: Is the global economy becoming less energy intensive? Source: BP Statistical Review of World Energy 2015 Article: Fossil fuel divestment is rational, says former Shell chairman – Mark Moody-Stuart is also worried about the lack of industry progress in addressing climate change. Article: BP sees ‘tectonic shift’ in world energy production – Energy […]

Global Oil Shortage Before Year’s End?

Now that OPEC has left its production quota unchanged, the world will continue to see a glut in supplies, right? Some analysts aren’t so sure. Sanford C. Bernstein predicts that by the end of the year global demand will outstrip supply by an estimated 1.5 million barrels per day. That flies in the face of […]

EIA, OPEC, IEA Influencing Oil Prices

Oil is more or less flat in the Asian session, Brent oil is trading at 64.95 and WTI is at 60.56 as traders are more focused on equities and currencies.  Oil dipped yesterday with U.S. crude retreating further from a one-month peak of almost $62 a barrel earlier this week, after Saudi Arabia said it […]

China, Iran strike deal on oil

Oil and gas deals between China and Iran are set to change. Last week, several news agencies in the region, including the Iran Daily and Trend News Agency said that Iran and China have agreed that China would pay in cash for the oil and gas it buys from Iran. China is currently the biggest […]

Saudi Arabia ready to raise oil output further to meet demand

Saudi Arabia is ready to increase its oil output in the coming months to a new record to meet a rise in global demand, despite increased domestic use, a senior state oil company official said on Thursday. Ahmed Al-Subaey, Saudi Aramco’s [SDABO.UL] executive director for marketing, told Reuters the world’s top oil exporter was already […]

Who Cares How Fast You Can Sell Debt If Borrowers Can’t Repay It

What if corporate-bond buyers focused less on how quickly they could trade the stuff and more on the basic question of, are they actually going to get their money back? Because, in a growing number of cases, they may not. While American companies seem to be in good shape based on a historically low default […]

Gazprom Seeks A Way Around Ukraine By 2019

Gazprom has vowed to entirely cut out Ukraine as a transit hub for natural gas exports to Europe. The conflict with Ukraine has scrambled the longstanding energy relationship between Russia and Europe. The European Union imports around one-third of its natural gas from Russia, but having seen those flows cut off multiple times in the […]

Shell Arctic Spill Contingency Plans In Alaska Survive Challenge

A divided federal appeals court on Thursday rejected an effort by a coalition of environmental groups to revoke federal approval of Royal Dutch Shell Plc’s oil spill response plans related to drilling on Alaska’s remote Arctic coast. By a 2-1 vote, the 9th U.S. Circuit Court of Appeals said the Bureau of Safety and Environmental […]

America’s Next Economic Boom Could Be Lying Underground

There’s a serious problem in the American economy: Big corporations are doing well, but real household income for average Americans has been falling over the past decade — down 9 percent, according to census data. “That’s not good for America,” says Harvard economist Michael Porter. “That’s not good for America’s standard of living. That’s not […]

Oh US gas demand, where art thou?

In the United States, natural gas is having quite a year. Year-to-date, Platts unit Bentek Energy data shows natural gas production has averaged 72.4 Bcf/d, a 5.2 Bcf/d, or almost an 8% increase, from a year ago. This growth is impressive itself, but what makes it even more impressive is the growth has come while […]

Pragmatic Conservation

The last few years have seen a big debate among leading conservationists over the future of parks and protected areas. On one side are groups like The Nature Conservancy that work with foreign countries to site hydroelectric dams so they are less destructive of river systems and with big corporations to protect wetlands and reduce pollution. […]

Mexico’s Pemex unveils large oil find

The Mexican state oil company Pemex has announced one of its biggest discoveries in years, unveiling new shallow water oil fields in the southern Gulf of Mexico that it says could produce 200,000 barrels per day by mid-2018. The total proven, probable and possible reserves of the fields could be as high as 350m barrels […]

Population and Resources

As part of the Millenium Project, 15 Global Challenges have been established to provide a framework to assess the global and local prospects for humanity. One of these urgent challenges involves population growth, and the globe’s capacity to establish how populations and resources can be brought into balance. Viewed in terms of the broad sweep of […]

The Era of Dissolution

The last of the five phases of the collapse process we’ve been discussing here in recent posts is the era of dissolution. (For those that haven’t been keeping track, the first four are the eras of pretense, impact, response, and breakdown). I suppose you could call the era of dissolution the Rodney Dangerfield of collapse, […]

Why EIA, IEA, And BP Oil Forecasts Are Too High

When forecasting how much oil will be available in future years, a standard approach seems to be the following: Figure out how much GDP growth the researcher hopes to have in the future. “Work backward” to see how much oil is needed, based on how much oil was used for a given level of GDP […]

Man digging for water finds natural gas reserve instead

  A man who dug a 70m-deep hole in search of his own personal water supply struck a huge natural gas reserve instead. Sanya Sanyasiri, 41, was convinced if he went deep enough he’d find groundwater he could tap into for his car repair workshop in Thailand. He also fancied having his own private water supply in Mae […]

Nat-Gas Glut Means Low Prices Here to Stay

The supply glut from the shale drilling bonanza meant that May was another month when U.S. natural gas production from the Lower 48 states stayed strong. As per the latest report from Bentek Energy – the forecasting unit of Platts – May natural gas production edged down less than 1% from the record highs of […]

US Ousts Russia as Top World Oil, Gas Producer

The U.S. has taken Russia’s crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields. U.S. oil production rose to a record last year, gaining 1.6 million barrels a day, according to BP Plc’s Statistical Review of World Energy released […]

China’s Offshore Oil and Gas Production Started to Peak in 2010

The China National Offshore Oil Corporation (CNOOC) is the largest producer of offshore oil and gas in China. Production statistics should therefore be pretty much indicative of what is happening along China’s coastline. Data from annual reports show that net oil and gas liquids production in 4 key offshore areas increased rapidly in the first […]

OPEC + Different EIA Data

The latest OPEC Monthly Oil Market Report is out. There were no big surprises. OPEC crude only production was up 23,000 bpd in May but that was after April had been revised upward by 110,000 bpd. Almost no change is Saudi production, down 5,000 bpd to 10,107,000 bpd. Iraq had the largest change of all, […]

The Transition Will Not Be Smooth Sailing

Michel Bauwens is one of the pioneers of the peer-to-peer movement. Theoretician, activist, and public speaker, he founded the P2P Foundation in 2005. His work, both rich and complex, is built around the concepts of networks and commons, and lays the conceptual foundations of a production system that would serve as an alternative to industrial […]

West Coast of North America to be Slammed by 2016 with 80% As Much Fukushima Radiation As Japan

A professor from Japan’s Fukushima University Institute of Environmental Radioactivity (Michio Aoyama) told Kyodo in April that the West Coast of North America will be hit with around 800 terabecquerels of Cesium- 137 by 2016. EneNews notes that this is 80% of the cesium-137 deposited in Japan by Fukushima, according to the company which runs […]

Gazprom Now Settling All Crude Sales To China In Renminbi

Two topics we’ve deemed critically important to a thorough understanding of both global finance and the shifting geopolitical landscape are the death of the petrodollar and the idea of yuan hegemony. Last November, in “How The Petrodollar Quietly Died And No One Noticed,” we said the following about the slow motion demise of the system […]

Building Hope in Times of Crisis

‘There is a big need for the solidarity movement in Greece. It started in late 2011 and has nearly doubled now to around 400 groups – even more if you add the more loosely networked ones,’ Christos Giovanopoulos says. We sit in the central Athens office of Solidarity for All, a project that aims to […]

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Is It Time To Abandon the Idea of Phasing Out Oil and Gas?
• More than 20% of global refining capacity at risk of closure
• Charles Hugh Smith Blog: Fire, Then Ice Our Deflationary Future
• Saudi Aramco CEO Amin Nasser says energy transition strategy ‘visibly failing’
• 100 million-degree ‘artificial sun’ sets new records in hunt for energy’s ‘Holy Grail’

• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy
• US seeks to buy up to 3 million bbls of oil for Strategic Petroleum Reserve
• Desertification: the world is losing healthy land at an astonishing rate
• US oil production will keep booming in 2024, setting up a possible showdown with Saudi Arabia
• Saudi Arabia piles pressure on UAE to shift COP28 focus away from oil and gas
• US Warship, Commercial Ships Under Attack In Red Sea