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News from February 2016

The Only EROEI that Matters is Energy Return on Human Labor Invested

The Only EROEI that Matters is Energy Return on Human Labor Invested thumbnail

There still needs to be consumers who can afford the output. Even if there is massive consolidation, the basic problem of workers who could not afford the output would not be fixed, because it is related to the fact that the cheap energy sources have already been taken. Even if direct extraction costs are low, […]


‘we can live with $20 a barrel,’ says Saudi Arabia

‘we can live with $20 a barrel,’ says Saudi Arabia thumbnail

There will be no short-term resolution to the current oil glut in the form of coordinated production cuts, Saudi Arabia’s oil minister has warned. In comments at an industry conference in Houston that sent the oil price spiralling lower, Ali al-Naimi stated categorically that a cut in supplies “is not going to happen”, reports the […]


Will We Ever Stop Using Fossil Fuels?

Will We Ever Stop Using Fossil Fuels? thumbnail

Not without a carbon tax, suggests a study by an MIT economist. In recent years, proponents of clean energy have taken heart in the falling prices of solar and wind power, hoping they will drive an energy revolution. But a new study co-authored by an MIT professor suggests otherwise: Technology-driven cost reductions in fossil fuels […]


We Are Headed Over A Waterfall Without A Barrel

We Are Headed Over A Waterfall Without A Barrel thumbnail

Today’s Guest: ‘V’ The Guerrilla Economist Websites: Rogue Money http://roguemoney.net Twitter @theroguemoney https://twitter.com/theroguemoney Most of artwork that are included with these videos have been created by X22 Report and they are used as a representation of the subject matter. The representative artwork included with these videos shall not be construed as the actual events that […]


Saudi Arabia’s oil minister says no oil production cuts coming

Saudi Arabia’s oil minister says no oil production cuts coming thumbnail

Saudi Arabia’s chief oil strategist dashed any hope the world’s biggest oil-exporting nations will cut their output to prop a depressed oil industry, saying it’s better for the market to wipe out high-cost oil producers who can’t compete. In his first encounter with the U.S. energy industry since oil prices collapsed in late 2014, Saudi […]


The Evil Empire Has The World In An Economic “Death Grip”

The Evil Empire Has The World In An Economic “Death Grip” thumbnail

In my archives there is a column or two that introduces the reader to John Perkins’ important book, Confessions of an Economic Hit Man. An EHM is an operative who sells the leadership of a developing country on an economic plan or massive development project. The Hit Man convinces a country’s government that borrowing large […]


OPEC’s Freeze Backfires

OPEC’s Freeze Backfires thumbnail

The oil supply “freeze” is a joke. That much was confirmed Tuesday in comments made separately by the oil ministers of Saudi Arabia and Iran. The latter called it “ridiculous,” no less. The punchline? The joke’s on OPEC. There are several glaring problems inherent to the freeze, whereby members of OPEC and other large producers such as […]


Climate, Colonialism, Capitalism and White Supremacy

Climate, Colonialism, Capitalism and White Supremacy thumbnail

Did you know that 49 million peeps in Africa risk starvation? In this sedition we give bring you up to speed on the African famine and connect it’s severity to climate change, white supremacy, colonialism and capitalism.


With Some Tar Sands Oil Selling at a Loss, Why Is Production Still Rising?

With Some Tar Sands Oil Selling at a Loss, Why Is Production Still Rising? thumbnail

Like a supertanker unable to make quick turns, production from tar sands in the Canadian oil patch continues to increase despite prices so low producers have to sell their output at a loss. The industry’s inability to cut production could have a profound impact on the climate as well as corporate bottom lines. Despite reductions […]


Peak Oil: Just A Distraction Pt 3

Peak Oil: Just A Distraction Pt 3 thumbnail

… [T]here is no intellectually honest way to believe that the world can continue its near-total reliance on fossil fuels for much more than another decade — a paltry window of opportunity. We also know that we cannot wait until they go into decline before reaching for renewables and efficiency, simply because the scale of […]


Peak Oil: Get Ready for What Comes Next

Peak Oil: Get Ready for What Comes Next thumbnail

Recently, I had to plunk down money on a new car. The old one was, well, pretty much ancient. When I bought it new for cash, Bill Clinton had just survived impeachment, gold was $300 an ounce, the Dow was at 9,000 and “Google” was not yet a verb. That was 17 years, two clutch […]


OPEC Unsure How It Can ‘Live Together’ With Shale Oil

OPEC Unsure How It Can ‘Live Together’ With Shale Oil thumbnail

OPEC and U.S. shale may need a relationship counselor. After first ignoring it, later worrying about it and ultimately launching a price war against it, OPEC has now concluded it doesn’t know how to coexist with the U.S. shale oil industry. “Shale oil in the United States, I don’t know how we are going to […]


Canadian Startups Look To Nuclear To Replace Fossil Fuels

Canadian Startups Look To Nuclear To Replace Fossil Fuels thumbnail

As the race to replace fossil fuels heats up, a few Canadian startups are betting on the nuclear option. “We need a game-changing energy innovation,” Simon Irish, chief executive of Oakville, Ont.,-based Terrestrial Energy, said in a recent interview. Renewable power like wind and solar aren’t able to meet the world’s growing energy demands, Irish says, […]


The Very First Nuclear War In The Middle East

The Very First Nuclear War In The Middle East thumbnail

Saudi Arabia already has nukes, Iran probably does, and the Russians are one of the two great nuclear powers on the entire planet.  So if Saudi Arabia, Turkey and their Sunni allies do decide to conduct a full-blown ground invasion of Syria, could someone ultimately decide to use nuclear weapons when their backs get pushed […]


A Market Collapse Is On The Horizon

A Market Collapse Is On The Horizon thumbnail

What is ahead for 2016? Most people don’t realize how tightly the following are linked: 1. Growth in debt 2. Growth in the economy 3. Growth in cheap-to-extract energy supplies 4. Inflation in the cost of producing commodities 5. Growth in asset prices, such as the price of shares of stock and of farmland 6. […]


Heinberg: Why Sustainability?

Heinberg: Why Sustainability? thumbnail

The essence of the term sustainable is simple enough: “that which can be maintained over time.” We want our culture, our institutions, and our society to be durable rather than fragile. A society that is sustainable is built to last, while one that is unsustainable will fail sooner or later. Of course, no society can […]


Kunstler: Between the Loathsome and the Unspeakable

Kunstler: Between the Loathsome and the Unspeakable thumbnail

How reassuring is it to Hillary, exactly, that she won what amounted to a straw poll totaling less than 11,000 votes among the various Nevada hotel employees unions? You could tell from her pained, artificial smile at the victory podium that there is something booby prize-ish about that narrow triumph. And what was with the […]


Saudi Arabia’s Misguided Oil Strategy

Saudi Arabia’s Misguided Oil Strategy thumbnail

Saudi Arabia has been instrumental in the collapse of crude oil prices by refusing to cut production and prevailing on OPEC to follow suit. This has so far inflicted incalculable damage on the global economy   Saudi Arabia took a huge gamble by flooding the global oil market with crude oil with the intention of […]


IEA: Oil supply, demand to rebalance in early 2017

IEA: Oil supply, demand to rebalance in early 2017 thumbnail

The world’s fuel producers probably won’t curb enough oil production to realign crude supply and demand until early 2017, with the United States making up the bulk of the decline, the International Energy Agency says. And even when the oil market rebalances and buyers begin to draw from oil stocks, the global crude inventory may […]


What’s Wrong With Bernanke’s ‘Relationship Between Stocks And Oil Prices’

What’s Wrong With Bernanke’s ‘Relationship Between Stocks And Oil Prices’ thumbnail

Stock prices and oil prices have been moving in lock-step. Ben Bernanke published an article Friday explaining why. He says that lower economic activity is driving stocks and oil prices lower. His demand equation is flawed and his correlations are spurious. Supply drove oil prices lower and oil demand is expected to rise in 2016. […]


Why Demand Will Likely Peak By 2030

Why Demand Will Likely Peak By 2030 thumbnail

Will global oil demand peak by 2030? Is peak oil demand the new peak oil supply? Many trends now point in the direction of this remarkable possibility:   In December the nations of the world agreed unanimously in Paris to leave most of the world fossil fuels in the ground. Oil demand has been declining […]


Michael Lynch: Methods Of Forecasting Long Term Oil Prices

Michael Lynch: Methods Of Forecasting Long Term Oil Prices thumbnail

In the early years of the oil industry, prices moved sharply with the discovery of a new, large oil field or the sudden decline of an existing producer. Producers were like farmers, prey to things happening beyond their control and outside of their knowledge. Efforts to control the price (Standard Oil, Texas Railroad Commission, Achnacarry […]


Texas Oil Production on a Plateau

Texas Oil Production on a Plateau thumbnail

The Texas RRC Oil and Gas Production Data is out. There appeared to be no decline in December production and may have even been a slight increase. The Texas RRC data is incomplete and only gives an indication as to whether Texas production increased or decreased. The data appears to droop because each month the […]


Missing radioactive material found dumped in south Iraq

Missing radioactive material found dumped in south Iraq thumbnail

Radioactive material that went missing in Iraq has been found dumped near a petrol station in the southern town of Zubair, officials said on Sunday, ending speculation it could be acquired by Islamic State and used as a weapon. The officials told Reuters the material, stored in a protective case the size of a laptop […]


Saudi-Russian Deal Not A Quick Fix For The Oil Crisis

Saudi-Russian Deal Not A Quick Fix For The Oil Crisis thumbnail

The recent deal struck between Russia, Saudi Arabia, Qatar and Venezuela to prop up oil prices by freezing production levels at January levels might have a psychological effect on oil markets, but it will not secure a major breakthrough from the current deadlock. Oil exporters such as Venezuela and Nigeria have been calling for OPEC […]


The Great Global Famine – The Aftermath of Peak Oil

The Great Global Famine – The Aftermath of Peak Oil thumbnail

Humanity has struggled to survive through the millennia in terms of Nature’s tendency to balance population size with food supply. The same is true now, but population numbers have been soaring for over a century. Oil, the limiting factor, is close to or beyond its peak extraction. Without ample, free-flowing oil, it will not be […]


This $14-billion machine is set to usher in a new era of nuclear fusion power

This $14-billion machine is set to usher in a new era of nuclear fusion power thumbnail

The first and largest machine of its kind is currently under construction at the French scientific research center Cadarache, which specializes in nuclear power research. It’s called ITER, Latin for “The Way,” and is expected to usher in a new era of nuclear fusion-powered electricity — something scientists and engineers have been working toward for […]


The US Dollar Just Became the Official Currency of ISIS

The US Dollar Just Became the Official Currency of ISIS thumbnail

It was reported this week that the terrorist group, ISIS, recently mandated U.S. dollars be the legal tender in their occupied territories. From now on, the U.S. dollar will be the only form of currency ISIS accepts for tax payments, fines, and utility payments. This recent policy is vastly different from the gold and silver minted currency […]


The US Economy Has Not Recovered And Will Not Recover

The US Economy Has Not Recovered And Will Not Recover thumbnail

The US economy died when middle class jobs were offshored and when the financial system was deregulated. Jobs offshoring benefitted Wall Street, corporate executives, and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form of capital gains and to executives in the form of […]


Bernanke Says Oil, Stocks Moving Together

Bernanke Says Oil, Stocks Moving Together thumbnail

The past decade has been a roller coaster for oil prices, one that market participants have probably not much enjoyed riding (Figure 1). The period includes much volatility and two sharp crashes. One crash, in 2008, was associated with the financial crisis and the Great Recession. The second may still be going on: Oil prices […]


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