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News from September 2015

Who funds the trillion dollar plan of the U.N.’s new global goals?

Who funds the trillion dollar plan of the U.N.’s new global goals? thumbnail

As world leaders brandish a hard-fought new set of global goals designed to improve lives in all countries, the question of who foots the trillion-dollar bill remained open on Saturday as financial pledges started rolling in. The United Nation’s 193 member countries on Friday adopted 17 Sustainable Development Goals (SDGs) as a roadmap to end […]


Israel’s Opposition to the Nuclear Treaty with Iran

Israel’s Opposition to the Nuclear Treaty with Iran thumbnail

Relations between Iran and Israel go back almost to the foundation of the State of Israel in 1948. Iran was the second Muslim-majority country to recognize Israel as a sovereign state, following Turkey, and the two countries had very close diplomatic and even military cooperation for many decades. After the 1953 coup, which restored the […]


Fukushima reactor could have suffered total meltdown

Fukushima reactor could have suffered total meltdown thumbnail

Fukushima’s reactor No.2 could have suffered a complete meltdown according to Japanese researchers. They have been monitoring the Daiichi nuclear power plant since April, but say they have found few signs of nuclear fuel at the reactor’s core. TrendsFukushima nuclear disaster The scientists from Nagoya University had been using a device that uses elementary particles, […]


Why the U.S. Urgently Needs to Invest in a Modern Energy System

Why the U.S. Urgently Needs to Invest in a Modern Energy System thumbnail

In a speech commemorating the thirty-fifth anniversary of the International Energy Agency (IEA) in 2009, former U.S. secretary of state, Henry Kissinger recalled how the energy crisis of 1970s awakened the world “to a new challenge that would require both creative thinking and international cooperation.” He explained that as “global demand continues to grow, investment […]


Venezuela Economic Crisis to Only Get Worse

Venezuela Economic Crisis to Only Get Worse thumbnail

Venezuela is suffering the deepest economic crisis in its history with output expected to contract 9.1 percent this year, Barclays Plc said Friday. The economic contraction will likely reach 16.5 percent between 2014 and 2016, while inflation over that period will exceed 1,000 percent, Barclays wrote in a note to clients. “It is impossible to […]


Population growth is part of migrant crisis

Population growth is part of migrant crisis thumbnail

“It is clear that the greatest tide of refugees and migrants is yet to come. Therefore we need to correct the policy of open doors and windows.” So said Donald Tusk at the EU summit meeting on Wednesday. As president of the European Council he had just returned from a visit to the Syrian frontline […]


Erase the borders

Erase the borders thumbnail

This week we look at the dire fuckin situation of people escaping war and abusive governments for the relative safety of the global north. On the break Rebel Diaz and Dead Prez remake the classic “Which Side Are You On?”  Our featured interview is with Erin Gallagher a journalist with Revolution News, who tells us […]


What if oil spewed into Great Lakes?

What if oil spewed into Great Lakes? thumbnail

Canadian oil transport giant Enbridge, the U.S. Coast Guard and several other federal, state and local agencies took to the waters of the Great Lakes Thursday in boats big and small, testing their preparedness and capabilities to contain what many consider as the worst of nightmare scenarios for the Great Lakes: a leak in Enbridge’s […]


How Many More Oil & Gas Companies Will File for Bankruptcy?

How Many More Oil & Gas Companies Will File for Bankruptcy? thumbnail

The bankruptcy of private equity-backed Samson Resources sent shock waves through the oil and gas industry last week. While it was expected, as word had seeped out that it had hired restructuring advisers, the news was still a bit of a jolt. If so-called smart money like Kohlberg Kravis Roberts (KKR – Get Report) can’t […]


Michael Lynch: Goldman Sachs Vs. OPEC

Michael Lynch: Goldman Sachs Vs. OPEC thumbnail

Interestingly, two contradictory oil price forecasts have appeared in the past few days, Goldman Sachs predicting that prices would remain “low” for fifteen years, while OPEC has argued that the price should recover to $80 a barrel by 2020. This is interesting because a few years ago, Goldman was considered the greatest price bull (among […]


In barrels of oil, America doing just fine

In barrels of oil, America doing just fine thumbnail

The good ship USA, as measured by the Barrel Standard, is doing nicely, thank you very much. You may not feel that way if you have any money invested in the stock market, but it’s true. Apple shares have been knocked back to their level of about a year ago. So has the S&P 500. […]


EIA: Oil firms’ deficit between spending and cash balloons to $50 billion

EIA: Oil firms’ deficit between spending and cash balloons to $50 billion thumbnail

The plunge in crude prices cost oil companies some $35 billion in operating cash flow in the second quarter, compared to the same period last year, the U.S. Energy Information Administration said Thursday. And though the collective of 97 western oil producers the EIA studied has cut billions in spending this year, they still invested […]


Replacing Oil with Renewables? During Next Generation?

Replacing Oil with Renewables? During Next Generation? thumbnail

“350.org is building a global climate movement…The number 350 means climate safety: to preserve a livable planet, scientists tell us we must reduce the amount of CO2 in the atmosphere from its current level of 400 parts per million to below 350 ppm… We believe that a global grassroots movement can hold our leaders accountable […]


JODI Data and Giant Field Depletion

JODI Data and Giant Field Depletion thumbnail

I am starting this post off with a news article because it explains why JODI has U.S. production numbers wrong for July. No, U.S. Oil Production Probably Didn’t Rise in July The Joint Organizations Data Initiative (JODI) releases monthly oil supply-and-demand data for about 80 countries, which it gathers by directly surveying the countries. It is […]


Goldman Sachs: “Peak Coal” Is Here

Goldman Sachs: “Peak Coal” Is Here thumbnail

“Peak coal” is here. Goldman Sachs released a September 22 research note that predicted that coal will decline and never come back. “Peak coal is coming sooner than expected,” the investment bank concluded. “The industry does not require new investment given the ability of existing assets to satisfy flat demand, so prices will remain under […]


Native Women Shut Down Pipeline “Consultation”

Native Women Shut Down Pipeline “Consultation” thumbnail

Montreal — First Nations women and supporters sent a clear message to TransCanada this Wednesday evening that the Energy East pipeline is not welcome through First Nations lands. “What we want TransCanada to understand is that no means no. This is Kanien’ke, this is Mohawk Land and we are tired of occupation, we are tired […]


A New Model for Carbon Pricing Using Blockchain Technology

A New Model for Carbon Pricing Using Blockchain Technology thumbnail

As the 2015 Paris Climate Summit approaches it appears that some positive steps will be taken in the fight against climate change, but one of the most important steps will again fail to be realized. Voices from governments, industry, academia, and activism have called for a price on carbon to help drive deep cuts in […]


The Crux Of The Problem

The Crux Of The Problem thumbnail

As world leaders convene for the UN Sustainable Development Summit in New York, to reflect on the progress of the Millennium Development Goals set in 2000 and adopt more goals for 2030, they ought to focus on the elephant in the room — a swelling global population that weighs on sustainability of social, economic and […]


Why China Matters to the Fed

Why China Matters to the Fed thumbnail

Nariman Behravesh, chief economist at IHS, previews today’s speech by Federal Reserve Chair Janet Yellen as markets look for clarification of the message delivered when the Fed held steady on interest rates. He speaks on “Bloomberg Surveillance.”


China Is Sitting on an Ocean of Diesel Fuel

China Is Sitting on an Ocean of Diesel Fuel thumbnail

Add diesel to the commodities flooding global markets from China. The nation exported a record volume of the fuel last month after already shipping unprecedented amounts of steel and aluminum overseas. The weakest economic growth since 1990 is sapping domestic demand for commodities, while refineries, mills and smelters grapple with excess capacity after years of […]


Shale Oil and the 2014-15 Price Collapse

Shale Oil and the 2014-15 Price Collapse thumbnail

Art Berman is out with a new deck: “The North American Unconventional Revolution & The 2014-2015 Oil Price Collapse” (pdf) and it’s a great review of US shale, Saudi/OPEC response, and the great price fall over the past year. As always, Art is out to tell you some facts you don’t often see in the […]


Noam Chomsky: The United States, Not Iran, Poses Greatest Threat to World Peace

Noam Chomsky: The United States, Not Iran, Poses Greatest Threat to World Peace thumbnail

In a speech Saturday at The New School in New York, Noam Chomsky explained why he believes the U.S. poses the greatest threat to world peace. “[The United States] is a rogue state, indifferent to international law and conventions, entitled to resort to violence at will. … Take, for example, the Clinton Doctrine—namely, the United […]


Oil unlikely to return to $100 a barrel for years

Oil unlikely to return to $100 a barrel for years thumbnail

Traders said goodbye to $100 oil prices a little over a year ago, and they might be staying away even longer than some expect. West Texas Intermediate crude-oil prices won’t likely climb back to $100 a barrel this year, or next, according to Tom Kloza, global head of energy analysis at Oil Price Information Service. […]


EIA: Mexico among largest producers

EIA: Mexico among largest producers thumbnail

Mexico is one of the largest producers of petroleum and other liquids in the world, the fourth-largest producer in the Americas after the United States, Canada, and Brazil, and an important partner in US energy trade. In 2014, Mexico accounted for 781,000 b/d, or 11% of US crude oil imports. Image from PEMEX. Mexico’s oil production has […]


How long will fossil fuels last?

How long will fossil fuels last? thumbnail

It is argued that oil will run out in 53 years, natural gas in 54, and coal in 110. How likely is it? The end, said a reincarnated Cassandra, is nigh. Abundant supplies of fossil fuels will end, bringing down the economic order with it. After all, she argued, at current rates of production, oil […]


We Should Have Seen This Refugee Crisis Coming

We Should Have Seen This Refugee Crisis Coming thumbnail

There are some things we can never know: The grief of a Syrian father as he finds his three-year-old son lifeless on the beach; how it feels to leave your home and community behind in the dark of night, knowing you may never return, with nothing but the need to keep your family safe from […]


Clinton opposes Keystone pipeline

Clinton opposes Keystone pipeline thumbnail

Democratic U.S. presidential candidate Hillary Clinton, who has long avoided a firm position on the Keystone XL oil pipeline, broke her silence on Tuesday and said she opposed it. “I have a responsibility to you and other voters,” Clinton, a former secretary of state, said at a town hall event in Iowa about TransCanada Corp’s […]


Is Cheaper Driving Here to Stay?

Is Cheaper Driving Here to Stay? thumbnail

We are now seeing declining growth and a deflationary economic contraction globally. In fact, the current $40-plus a barrel oil price is by itself good proof of that. The global collapse in the price of oil shows that with global supply remaining roughly constant over time at about 95 million barrels per day. The current […]


JODI Data and Giant Field Depletion

JODI Data and Giant Field Depletion thumbnail

I am starting this post off with a news article because it explains why JODI has U.S. production numbers wrong for July. No, U.S. Oil Production Probably Didn’t Rise in July The Joint Organizations Data Initiative (JODI) releases monthly oil supply-and-demand data for about 80 countries, which it gathers by directly surveying the countries. It is […]


Fate of Countries in Collapse – Results: Currency Collapse

Fate of Countries in Collapse – Results: Currency Collapse thumbnail

One of the longest running arguments on the Diner is how various different countries will fare as collapse progresses forward. Most often, this pits the FSoA against China, and the Diner has some China Bulls and some China Bears.  I am a notorious China Bear gong back to my days on the Peak Oil Forum, […]


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