The Case For Peak Oil

All charts below were created with data from JODI, the EIA and OPEC MOMR. It is in thousand barrels per day and the last data point is September 2015. World crude oil production has taken off during the last two years due primarily to US shale oil production and higher output from OPEC. However very […]

ITER fusion project to take at least 6 years longer than planned

The multibillion-dollar ITER fusion project will take another 6 years to build beyond the—now widely discredited—official schedule, a meeting of the governing council was told this week. ITER management has also asked the seven international partners backing the project for additional funding to finish the job. It remains unclear whether the project will get what […]

Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry

Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.  The result is a […]

Shell finds 100 million oil barrels in deep-water Gulf discovery

Probing one of its recent discoveries in deep waters of the Gulf of Mexico, Royal Dutch Shell found 100 million barrels of oil equivalent buried at its Kaikias field, nearby three of its massive production facilities and a network of subsea pipes, the company said Wednesday. The one-year-old Kaikias discovery, about 60 miles south of […]

How Technology Energy Innovation Helps Achieve Sustainable Development

Laura Diaz Anadon, Assistant Professor in Public Policy at the John F. Kennedy School of Government at Harvard University, and Visiting Senior Lecturer in Science, Technology, Innovation and Public Policy at the Department of Science, Technology, Engineering and Public Policy at University College London, will present a public lecture on November 24 at the Graduate Institute in Geneva, […]

Iraqi oil selling at $30

Iraq may increase oil output further in 2016, although less dramatically than this year, intensifying a battle for market share between OPEC members and non-OPEC rivals that has forced Baghdad to sell some crude grades for as little as $30 a barrel. Iraq’s output in 2015 has jumped almost 500,000 barrels per day (bpd), or […]

Takeover of Simmons ends 41-year run for ‘peak oil’ dealmaker

The takeover of Simmons & Co. by Piper Jaffray Cos. marks the end of an energy industry dealmaker founded by one of the leading champions of the “peak oil” theory, Matthew R. Simmons. Simmons was best known for his claim that the Earth was running out of crude, promoting the idea that world oil reserves were peaking […]

India, Not China, Powering Growth in Fuel Demand

China’s fuel usage tends to gather headlines as an indicator of the strength of global crude oil demand, and while this has been justified, the real growth action is happening over the Himalayas in India. India’s total demand for oil products is about one one-third of that in China, but the South Asian nation is […]

The ‘M’ word in fuel marketing is not ‘mileage.’ It’s ‘millennials’

Millennials are today’s low-hanging fruit for a joke. I’m guilty. A few weeks ago at a party, discussion turned to their sense of entitlement. The office gets pizza. The millennial gets a salad. The office gets the local donut chain. The millennial wants Krispy Kreme. A friend who, like me, is about 20 years older […]

Oil Supply and Demand to Rebalance in 2016

Last fall, it appeared unlikely that the Organization of the Petroleum Exporting Countries (OPEC) would cut its crude oil production. And sure enough, the cartel increased its production to a rate not seen in 30 years. As Doug Terreson, an oil analyst with Evercorer ISI, explained during a Nov. 13 webinar, OPEC sought two things: […]

Solar Air-Conditioning: The Next Big Step for Solar Energy

Air-Conditioning (AC) has become an essential part of modern society as it enables a productive and comfortable life style in hot and humid climates. The amount of installed AC systems is expected to dramatically increase in the coming decades, largely driven by economic growth in developing countries. Since many of these countries, such as China, […]

Coping With a Post-Peak Future

So I first learnt about peak oil back in 2005, when The End of Suburbia was shown at an activist skillshare. And while I didn’t go into denial per se, I didn’t really accept it. It was like if anyone had asked me about it, I would’ve said, “yeah peak oil’s really full on, I […]

T. Boone Pickens: There’s Too Much Natural Gas

BP Capital Chairman and CEO T. Boone Pickens discusses the oil and gas industries. He speaks on “Bloomberg Markets.

Seven Things You Should Know About China’s Coal Consumption

China’s issuance in August of its 2014 Energy Statistical Yearbook has recently garnered attention as a result of a New York Times article noting the yearbook’s substantial upward revision of China’s coal consumption statistics and their potential implications for China’s GHG emissions and the December Paris climate negotiations. These statistics provide additional data on China’s […]

Mexico Requests To Join IEA

Mexico submitted on Monday a request to join the International Energy Agency as the energy policy adviser to industrialised countries seeks to expand its member base. Mexican Secretary of Energy Pedro Joaquín Coldwell presented IEA Executive Director Fatih Birol with a letter requesting to join the organisation that currently includes 29 member countries, the IEA […]

Coalition Strikes Pound IS ‘capital’ in Syria, Oil Tankers

US-led coalition warplanes have pounded the Islamic State group in Syria after the Paris attacks, with French raids hitting IS stronghold Raqa and another strike destroying dozens of oil tankers. In its first major military response to Friday’s attacks in Paris, France said 12 of its warplanes had hit IS positions in Raqa, the jihadists’ […]

China welcomes IMF backing to make yuan world reserve currency

China on Saturday welcomed backing from IMF experts that the yuan should be included in its reserve currencies, saying the move would strengthen the world’s financial system. Now the world’s second-largest economy, China asked last year for the yuan to be added to the elite basket of SDR currencies, but until recently it was considered […]

Sub-$2 gas on the horizon again

Though gas prices remain stubbornly higher in Lincoln, they are creeping down toward $2 a gallon in other parts of Nebraska. Lincoln’s average for a gallon of regular unleaded was $2.36 as of Monday, according to both AAA and GasBuddy.com. That’s down 7 cents from a week ago and 25 cents from a month ago. […]

U.S. Approves Sale of Smart Bombs to Saudi Arabia

The U.S. State Department has approved the sale of $1.29 billion in smart bombs to Saudi Arabia to help replenish supplies used in its battle against insurgents in Yemen and air strikes against Islamic State in Syria, the Pentagon said on Monday. The Pentagon’s Defense Security Cooperation Agency (DSCA), which facilitates foreign arms sales, notified […]

Why oil could rally in 2016

Despite the astounding surge in the oil supply over the last year, the Bank of England reported that 60 percent of the recent decline in oil prices was due to demand factors. Cumulative percentage change in the Brent oil price since June 19, 2014, based on 200 commodity price co-Movements Source: Bank of England November […]

Groundwater is mostly non-renewable

Less than 6% of groundwater is replenished within 50 years The water that supplies aquifers and wells that billions of people rely on around the world is mostly a non-renewable resource that could run out, a new Canadian-led study has found. While many people may think groundwater is replenished by rain and melting snow the […]

Protect Assets With The Dollar

Summary A strong bull market. Fundamentals say higher, much higher. Technicals say the trend is your friend. A Fed promise kept will launch the greenback. Parity and more. The U.S. dollar is the reserve currency of the world. While the total population of the United States currently stands at around 322 million, the world population […]

Kunstler: There Are No Safe Spaces

I ’m not persuaded that world opinion will ever “make sense” of the Paris attacks. The non-linear rules the day. So-called Fourth Generation Warfare works because there are so many small arms loose in the world and any band of maniacs with a few machine guns and a pound of Semtex plastic explosive can create […]

An “oil theologist” is needed to interpret the given resources and reserves in World Energy Outlook 2015

  This year’s big news regarding the reporting of oil reserves in World Energy Outlook 2015 is that this annual report now discusses “resources that are technically possible to produce” and what proportion of these are proven reserves. When I was working on Chapter 17, The Peak of the Oil Age for my new book […]

IEA says 3-fold or greater increase in biofuels possible by 2040

The International Energy Agency released its latest World Energy Outlook 2015, saying there are clear signs that an energy transition is under way. The report finds that the plunge in oil prices has set in motion the forces that lead the market to rebalance, and cautions that strong direction is needed from the upcoming United […]

Oil and Natural Gas Prices in Historical Context

Memories are short, and we often mistake prices of the last few years as indicative of the historical norm. Indeed, when it comes to the price of crude oil, most Americans would probably be surprised to learn that it is still well above the long-term historical average, once we adjust for price inflation. Contrary to […]

The Looming Bankruptcy Of Saudi Arabia

There’s two interesting little stories in this idea that Saudi Arabia is going to go bust in a couple of years as a result of the sagging oil price. Both are more general economic ideas than just the story of that oil price. The first is that mono-anything in economics is something we don’t really […]

Bakken Big Decline in September

The NDIC has published their monthly update for Bakken Oil Productin and all North Dakota Oil Production. Bakken production was down 24,424 barrels per day while all North Dakota was down 25,378 bpd. Here is an amplified version of the last 15 months of North Dakota production. September 2015 production is now below September 2014 […]

Paris Terror Attack: ISIS Celebrate “Paris In Flames”

ISIS adherents celebrated the horrific terror attacks across Paris late Friday creating hashtags declaring “Paris in flames” well before the devastating scope of the worst attacks to hit Paris since World War II was clear to the world. Vocativ deep web analysts discovered ISIS extremists praising the sophisticated and well-coordinated attacks within minutes of the initial explosions and gunfire that […]

New EPA Rules Could Raise Energy Prices

Critics of the Environmental Protection Agency’s Clean Power Plan say the new regulation will cost up to $292 billion and potentially raise electricity prices in 47 states. “States should be braced to pay higher costs,” said Laura Sheehan, senior vice president for communications for the American Coalition for Clean Coal Electricity. “Consumers only lose in the Clean […]

« 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