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News from July 2015

Iran Starts Negotiations to Export Natural Gas to Europe

Iran Starts Negotiations to Export Natural Gas to Europe thumbnail

Iran is in a good position to meet the growing gas needs of the European Union and has started its talks in this regard, the secretary general of the Gas Exporting Countries Forum (GECF) said. “Iran and the European Union have already engaged in negotiation that involved several options for the export (of gas) to […]


Gas Production Triples in Two Years

Gas Production Triples in Two Years thumbnail

The Marcellus and Utica shale natural gas fields continue sizzling in the Northern Panhandle, as West Virginia Geological and Economic Survey statistics show drillers pumped nearly three times as much natural gas in the region during 2014 compared to 2012. Once the Dominion Resources Cove Point liquefied natural gas export facility opens in Maryland – […]


Why The Future Looks Pretty Damn Great

Why The Future Looks Pretty Damn Great thumbnail

“You will always have people selling doom,” says Reason‘s Science Correspondent Ronald Bailey. “It’s lucrative and it makes you sound serious. But they will be proved wrong.” In his new book, The End of Doom: Environmental Renewal in the 21st Century, Bailey acknowledges the reality of climate change, but insists that humans will utilize technological […]


Saudi Arabia’s Sabic Considering Shale Gas Investments in U.S.

Saudi Arabia’s Sabic Considering Shale Gas Investments in U.S. thumbnail

Saudi Basic Industries Corp., the world’s second-biggest chemicals manufacturer, plans to expand investment in U.S. shale gas projects through joint ventures, according to acting Chief Executive Officer Yousef al Benyan. Sabic, as the company is known, signed an agreement with Houston, Texas-based Enterprise Products Partners L.P. to get shale gas, al-Benyan said in an interview […]


Peak Oil Reading List

Peak Oil Reading List thumbnail

The visionary and legendary M. King Hubbert. He was surely considered a tinfoilhatter when he predicted in 1949 that the U.S. would hit its production peak soon and then they were ready to put him in a straight-jacket when in 1956 he predicted that the U.S. would not only peak soon, it would peak between […]


Liquid Gold – Qatar’s Natural Gas

Liquid Gold – Qatar’s Natural Gas thumbnail

Qatar has recently passed Lichtenstein to occupy the position as the world’s wealthiest nation. Despite claims from tourist sites that the country owes its economic fame to the 19th century pearl industry, the true source of Qatar’s fortunes lies under its windswept sands. Qatar, it is estimated, has the largest non-associated (i.e., not found with […]


Orlov: It’s really very simple

Orlov: It’s really very simple thumbnail

There are times when a loud cry of “The emperor has no clothes!” can be most copacetic. And so, let me point out something quite simple, yet very important. The old world order, to which we became accustomed over the course of the 1990s and the 2000s, its crises and its problems detailed in numerous […]


Modern-Day Geopolitics: Bloc-ing The World

Modern-Day Geopolitics: Bloc-ing The World thumbnail

The new millennium has witnessed many developments in geopolitics – from the introduction of a unified currency (euro) in the Eurozone to the formation of the New Development Bank (NDB) by the BRICS nations (Brazil, Russia, India, China and South Africa). Things have been in a churn, with a once bipolar world turning uni-polar and […]


Iran Ready to Export Natural Gas to India

Iran Ready to Export Natural Gas to India thumbnail

Director General of National Iranian Gas Export Company Alireza Kameli said the country is ready to sign an agreement with a major Indian company for the export of Iran’s natural gas to the Subcontinent. After India left the IP Gas Pipeline project, a consortium of some Indian companies headed by South Asia Gas Enterprise Pvt. […]


This Is Why A Serious Decline In U.S Shale Plays Is Not Far Away

This Is Why A Serious Decline In U.S Shale Plays Is Not Far Away thumbnail

The plunge in oil prices last year led many to say that a decline in U.S. oil production wouldn’t be far behind. This was because almost all the growth in U.S. production in recent years had come from high-cost tight oil deposits which could not be profitable at these new lower oil prices. These wells […]


Getting hit by “currency war”

Getting hit by “currency war” thumbnail

The latest bank rate cut underscores government’s worried view of our economy. Driving down the loonie should help Ontario, Quebec and manufacturers in general. Those owning American stocks and real estate also win. Losers are consumers, cross-border shoppers and snowbirds. The cost of imported goods from the U.S., is rising — vegetables, fruit, automobiles, etc. […]


Congress Plans Sales From Strategic Petroleum Reserve

Congress Plans Sales From Strategic Petroleum Reserve thumbnail

Lawmakers are eyeing the Strategic Petroleum Reserve as a piggy bank, but not without controversy. The Senate is considering legislation that would partly replenish the U.S. highway trust fund with $9 billion worth of sales from the reserve, which at 695.1 million barrels of oil is close to its 713.5-million-barrel capacity. This month, the House […]


ISIS Makes Three Times as Much from Oil Smuggling as Previously Thought

ISIS Makes Three Times as Much from Oil Smuggling as Previously Thought thumbnail

Two U.S. counter-terrorism officials tell NBC News that intelligence gathered from a U.S. raid in Syria details ISIS finances, revealing millions of dollars in oil wealth. “The more time on target, the better the estimate,” a senior U.S. official told NBC News. U.S. intelligence agencies have spent a lot of “time on target” since the […]


Have Cash On Hand To Survive For Three Months: “No Institution Is Safe”

Have Cash On Hand To Survive For Three Months: “No Institution Is Safe” thumbnail

Economic forecaster Martin Armstrong, who is known for having accurately predicted major events like the Savings & Loan crash, the collapse of Japanese financial markets and the destruction of the Russian economy almost to the day, says that a major turning point is coming to the global paradigm this October. While stopping short of calling […]


Great time to be farming

Great time to be farming thumbnail

This is a great time to be involved in the agricultural industry for several reasons, including the expanding wealth of many countries. Interesting events occurred in 1970, said Lowell Catlett, regents professor, New Mexico State University. “That was the year the U.S. became the world’s first $1 trillion economy and the whole world produced $4 […]


Russia, China Delay “Holy Grail” Gas Pipeline Sequel As China’s Economy Swoons

Russia, China Delay “Holy Grail” Gas Pipeline Sequel As China’s Economy Swoons thumbnail

Last month in “PetroYuan Proliferation: Russia, China To Settle ‘Holy Grail’ Pipeline Sales In Renminbi,” we outlined how Moscow was set to deliver some 68 bcm/y in natural gas to China via the Power of Siberia line and the “Western Route”, or the “Altai” line. Here’s a quick recap: In May, Chinese President Xi Jinping […]


Slips in ITER schedule mean China’s fusion project may finish first

Slips in ITER schedule mean China’s fusion project may finish first thumbnail

The world’s largest nuclear fusion machine, currently being built in France, is unlikely to produce more energy than it consumes until the early 2030s, warned the UK’s head of fusion research this week. That is five years later than planned – by which time China could be ahead of everyone. Nuclear fusion involves heating a […]


After Deadly Blast, 2.7 Million Barrels of Pemex Oil Go Missing

After Deadly Blast, 2.7 Million Barrels of Pemex Oil Go Missing thumbnail

Petroleos Mexicanos seems to have misplaced 2.7 million barrels of oil. Since a deadly blast on April 1 tore through one of its offshore platforms, the state oil giant has baffled industry analysts with its assessment of the damage. Pemex has said the disaster, its deadliest this year, affected about 1.5 million barrels of production. […]


How Energy Tech Can Meet Needs of Rapid Population Growth

How Energy Tech Can Meet Needs of Rapid Population Growth thumbnail

Looking at global energy markets today, it is clear that current resources can meet growing energy demand. During 2014, global primary energy consumption reached around 13,000 Mtoe (million tons of oil equivalent) largely from fossil fuels (78 percent) with less than 20 percent from renewables, and nuclear power making up the remainder. This mix will […]


Saudi Arabia Having to Borrow Billions – Could Be Bankrupt by End of the Decade

Saudi Arabia Having to Borrow Billions – Could Be Bankrupt by End of the Decade thumbnail

Over the past year, Saudi Arabia – once among the richest nations on the planet – has wound up having to sell some $4 billion in bonds. It has been necessary in order to maintain levels of spending on public works and continue financing the war against Yemen. The Saudi government has also had to […]


Can Desalination Counter the Drought?

Can Desalination Counter the Drought? thumbnail

The waves of the Pacific seem to taunt the thirsty landscape of California. The state has eight hundred and forty miles of coastline adjoining the world’s largest ocean—an oversupply of brine at a time when drought has left fallow more than half a million acres of farmland, claimed some twenty thousand jobs, and cost the economy billions […]


Iran eyes $185 billion oil and gas projects after sanctions

Iran eyes $185 billion oil and gas projects after sanctions thumbnail

Iran on Thursday outlined plans to rebuild its main industries and trade relationships following a nuclear agreement with world powers, saying it was targeting oil and gas projects worth $185 billion by 2020. Iran’s Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh said the Islamic Republic would focus on its oil and gas, metals […]


Local Currency — Money for Us, Not the Bankers

Local Currency — Money for Us, Not the Bankers thumbnail

“Back in the 1930s on the Olympic peninsula, people were paying their taxes in alternative money…The banks shut them down. This is an example of the monopoly the banks have, and the level of control they have over peoples’ economic lives… People need to know [local currency] is a possibility, an option, a realistic tactical […]


China may bring in ‘two-child policy’

China may bring in ‘two-child policy’ thumbnail

Thirty-five years after enacting draconian birth control rules blamed for millions of forced abortions and the creation of a demographic “timebomb”, China could be on the verge of introducing a two-child policy. The new regulation, under which all Chinese couples would be allowed to have two children, could be implemented “as soon as the end […]


Nine Reasons Why Low Oil Prices May “Morph” Into Something Much Worse

Nine Reasons Why Low Oil Prices May “Morph” Into Something Much Worse thumbnail

Why are commodity prices, including oil prices, lagging? Ultimately, it comes back to the question, “Why isn’t the world economy making very many of the end products that use these commodities?” If workers were getting rich enough to buy new homes and cars, demand for these products would be raising the prices of commodities used to […]


US Says Shell Is Not Yet Allowed To Drill In Arctic

US Says Shell Is Not Yet Allowed To Drill In Arctic thumbnail

The U.S. Interior Department on Wednesday granted Royal Dutch Shell two final permits to explore for crude in the Arctic this summer, but said the company cannot drill into the oil zone until required emergency equipment arrives in the region. The department’s Bureau of Safety and Environmental Enforcement (BSEE) conditionally granted Shell permits for exploration […]


OPEC sees oil drop as short-term, expects stronger demand

OPEC sees oil drop as short-term, expects stronger demand thumbnail

A drop in oil prices this month is likely to be short-term and will not deflect OPEC from its policy of keeping output high to defend market share, delegates from Gulf OPEC members and other nations said. Falling Chinese stock markets and the Greek debt crisis have raised concern about demand, while the Iranian nuclear […]


Greece to confirm construction of natural gas pipeline jointly with Russia

Greece to confirm construction of natural gas pipeline jointly with Russia thumbnail

Greece supports the plan of building a natural gas pipeline jointly with Russia to be an extension of the Turkish Stream gas pipeline, new Minister of Productive Reconstruction, Environment and Energy of Greece Panos Skourletis said on Monday at the ceremony of responsibilities’ handover from the former minister Panagiotis Lafazanis. Skourletis said the plan of […]


The real ‘struggle of our generation’ is not terrorism

The real ‘struggle of our generation’ is not terrorism thumbnail

Sir Winston Churchill’s statue in Parliament Square should be removed to a museum. All busts and portraits of the great man in parliament and the prime minister’s residence should be taken down and placed in storage. Why? To discourage his successors from slipping their tiny feet into his shoes. Churchill was right when he claimed, in […]


Solar Desalination Could be a Game Changer for California Farms

Solar Desalination Could be a Game Changer for California Farms thumbnail

  Let’s be clear from the outset: I’m no fan of conventional desalination. The idea of using climate-altering fossil fuels to drive an energy-intensive de-salting process that threatens coastal environments in order to produce drinking water that, in most cases, could be secured more cheaply through conservation and efficiency improvements, simply fails to pass the […]


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