Libya Oil Output Rebounds as Sharara, Feel Fields Restarted

Libya’s crude production rebounded to more than 700,000 barrels a day as the OPEC member’s biggest oil field and another deposit in its western region resumed pumping after a halt. The Sharara field is currently producing 216,400 barrels a day, while the El Feel, or Elephant, deposit is pumping 26,500 and is expected to boost output further, […]

The art confronting a global crisis with reality and hope

EXIT puts the displacement of peoples, and Australia’s own refugee policies, into a daunting global context. But the installation’s ‘thunderous’ data on loss and climate is empowering. By Andrew Trounson, University of Melbourne In a darkened room surrounded by a high-tech 360-degree projection, your ears filled with a whirring and staccato ticking that almost drowns […]

Julian Assange Speaks Out: The War On The Truth

Having blasted the Trump administration for their hyprocritical flip-flop from “loving WikiLeaks” to “arrest Assange,” Ron Paul made his feelings very clear on what this signals: “If we allow this president to declare war on those who tell the truth, we have only ourselves to blame.” Today he sits down with WikiLeaks founder Julian Assange […]

Venezuela may be hitting a turning point

An anti-government protester stands near a teargas cloud during clashes against Venezuela’s security forces in Caracas. (Alejandro Cegarra/For The Washington Post) By Mariana Zuñiga and Nick Miroff April 29 at 4:41 PM CARACAS, Venezuela — In the cramped hillside slums where they once adored Hugo Chávez, hungry families now jeer and bang pots at the […]

EIA economist: Permian production is ‘remarkable’

Permian Basin operators are successfully coaxing more crude to the surface, and the Energy Information Agency is forecasting the region will raise its output to 2.4 million barrels a day in May. The Permian will produce 662 barrels per rig next month, unchanged from April, according to the agency’s Drilling Productivity Report. Production from new […]

Change Agents

  For at least the past 45 years, (from publication of the Club of Rome’s Limits To Growth), we have been watching a debate rage over the concept of sustainability. That word gets overused and misused so we need to be clear what we mean — the ability to maintain for an indefinite period of […]

Explorers continue to retreat from oil frontiers

The Great Australian Bight, an undisturbed marine reserve for whales and hundreds of aquatic species, was one of the oil industry’s most promising deep-water frontiers – a frontier where BP planned to drill. For years, environmental groups waged war on those plans until BP gave them up in October. But it wasn’t the fierce opposition […]

Michael Lynch: Here Comes The Oil

For much of the past decade, the mantra “the easy oil is gone” could be heard throughout the industry, not just from peak oil advocates.  The idea was that the industry was now having to go to ever-harsher environments and tolerate increasing political risk in order to obtain the needed supplies, which translated into higher […]

Dream On, OPEC – The US Will Never Act Like A Cartel

Apparently, the United States is out of sync with the rest of the world – which some might argue is good – because tight oil producers didn’t cut back when OPEC finally managed to address market volatility. Deon Daugherty Senior Editor, Rigzone OPEC Secretary General Mohammed Barkindo called out the United States as outside the […]

What Is Shaping the Global Oil Market?

In today’s “Futures in Focus,” Dan Deming of KKM Financial discusses the outlook for oil and impact on the market from geopolitical unrest. He speaks with Vonnie Quinn on “Bloomberg Markets.”

BP finds hidden trove of oil in Gulf of Mexico

British oil major BP has discovered 200 million barrels of oil in a hidden cache in the Gulf of Mexico, thanks to a technological breakthrough allowing the company to see beneath geological formations that had befuddled oil exploration for decades. The find, worth a potential $2 billion in recoverable oil, is in an undrilled section […]

Trump Now a Captive of the Deep State

When the gullible and insouciant American public and the presstitutes who participate in the deceptions permitted the Deep State to get away with the fairy tale that a few Saudi Arabians under the direction of Osama bin Laden, but without the support of any government or intelligence agency, were able to outwit the entirety of […]

Aramco, IEA warn of future supply crunch

Two of the most influential voices in the oil market today separately set out a stark picture of a coming crude supply shortfall. The IEA and state-owned Saudi Aramco both pointed to the sharp reduction in investment levels since the oil price began to fall in 2014, and warned of trouble ahead. The IEA said […]

Peak oil demand ‘not in sight’ in next few decades – Aramco CEO

The peaking demand on oil will not loom over in the next few decades, Aramco’s CEO stated at the 18th International Oil Summit held in Paris on Thursday. “Long-term factors truly define and impact the energy industry, not misplaced notions like ‘peak oil demand’ or ‘stranded resources’,” he said, according to the Saudi oil company’s official […]

EIA: Global Oil Supply to Lag Demand After 2020

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency (EIA). Both trends could continue this year, and the EIA warns that global oil supply could lag demand […]

The Autopsy Is in: Natural Gas Killed Coal

In case anyone doubts the death of coal, experts just issued the autopsy. A new report from the Center on Global Energy Policy at Columbia University looks at exactly what’s causing coal’s demise. It finds that cheap natural gas is responsible for roughly half the decline in U.S. coal consumption. Falling demand for electricity and […]

Heinberg: Think Resilience Chapter 4 Depletion

  Post Carbon Institute Senior Fellow Richard Heinberg sat down to deliver a 22-chapter lecture series entitled “Think Resilience: Preparing Communities for the Rest of the 21st Century,” which explores how communities can build resilience in the face of our intertwined sustainability crises. The series is intended for students and concerned individuals of all ages. […]

US Destroyer Has Close Encounter With Iranian Vessel in Straits of Hormuz

The USS Mahan had to take evasive actions in the Straits of Hormuz today, in order to avoid an Iranian ‘fast attack’ vessel. The Mahan sounded the danger alarm, fired flares and manned their weapons, but the Iranian cowards tucked tail and scattered before reaching within 1,000 yards of the U.S. destroyer. “Coming inbound at […]

Iceland Geothermal Project Completes Deep Drilling In Volcano

Geologists and engineers have successfully drilled into the heart of a volcano in Iceland, as part of a project aimed at assessing the economic feasibility of using deep unconventional geothermal resources to deliver renewable energy. Drilling so deep into such a hot borehole poses many difficulties, but if researchers manage to overcome the challenges, fewer […]

What Myth Will Replace The American Dream?

There is a thinking in primordial images, in symbols which are older than the historical man, which are inborn in him from the earliest times, eternally living, outlasting all generations, still make up the groundwork of the human psyche. It is only possible to live the fullest life when we are in harmony with these […]

Electric Car Boom Seen Triggering Peak Oil Demand in 2030s

Electric cars are coming fast — and that’s not just the opinion of carmakers anymore. Total SA, one of the world’s biggest oil producers, is now saying EVs may constitute almost a third of new-car sales by the end of the next decade. The surge in battery powered vehicles will cause demand for oil-based fuels […]

North Sea Oil Floods to Asia Like Never Before

North Sea oil is flooding into Asia like never before thanks to the most competitive crude prices in seven years. OPEC’s own output cuts are partly to blame. Brent, a global benchmark, closed at a premium of just 57 cents a barrel to Dubai crude on Monday, the greatest incentive to move North Sea oil […]

DEEP STATE to wipe out 90% of the world’s population? 6.5 BILLION lives targeted for extinction

In the Bible, Revelation 18:21 reads, “Then a mighty angel picked up a boulder the size of a large millstone and threw it into the sea, and said: ‘With such violence the great city of Babylon will be thrown down, never to be found again.’” Astonishingly, the map shown below may in fact be predicting […]

Venezuela’s Complicated Crisis For Oil

The cold logic of the oil market dictates that crisis usually equals profit. That’s because a crisis in oil usually means a supply crisis, as some large producing country becomes embroiled in war or civil unrest or sanctions or some other geopolitical mess. The country currently occupying the unenviable position of being the likeliest source […]

China To Boost Non-Fossil Fuel Use To 20% By 2030

China aims for non-fossil fuels to account for about 20 percent of total energy consumption by 2030, increasing to more than half of demand by 2050, its state planner said on Tuesday, as Beijing continues its years-long shift away from coal power. In a policy document, the National Development and Reform Commission (NDRC) said carbon […]

New Breakthroughs in Solar’s Biggest Problem: Energy Storage

The greatest challenge that solar power faces is energy storage. Solar arrays can only generate power while the sun is out, so they can only be used as a sole source of electricity if they can produce and store enough excess power to cover the times when the sun is hidden. Traditional batteries have not […]

Heinberg: Juggling Live Hand Grenades

Here are a few useful recent contributions to the global sustainability conversation, with relevant comments interspersed. Toward the end of this essay I offer some general thoughts about converging challenges to the civilizational system.  “Oil Extraction, Economic Growth, and Oil Price Dynamics,” by Aude Illig and Ian Schiller. BioPhysical Economics and Resource Quality, March 2017, […]

The Battle Between OPEC and US Shale

Bloomberg’s Tracy Alloway reports on the price and production of oil. She speaks on “Bloomberg Markets: Middle East.

This Breakthrough “Superfuel” is 1,693X More Powerful Than Gasoline

From the desk of a U.S. State Department Energy Advisor: This Breakthrough “Superfuel” is 1,693X More Powerful Than Gasoline Unearthed in the Andes Mountains, these mysterious crystals contain what MIT researchers call energy’s “Holy Grail.” And they could ignite a $7.2 trillion economic revolution! A discovery made 13,000 feet up in the Andes Mountains is […]

G. Edward Griffin: Exposing The Creature From Jekyll Island

G. Edward Griffin, the author of the seminal book on the formation of the Federal Reserve, The Creature of Jekyll Island, joins the podcast this week to add his perspective to our ongoing critical examination of the Fed and the impact its actions are having on society. Meeting Ed and getting to spend time with […]

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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