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News from June 2017

South Korea Is Very, Very Interested in America’s Natural Gas

South Korea Is Very, Very Interested in America’s Natural Gas thumbnail

One thing became clear on the fourth day of the White House’s “Energy Week”: South Korea is really, really into U.S. natural gas. In less than 24 hours, South Korea’s energy companies had announced four partnerships with U.S. companies to explore opportunities in the U.S. natural gas business. Korea Gas Corp., the state-owned gas supplier, […]


MIT Scientist Asserts That We Will Have Fusion Energy by 2030

MIT Scientist Asserts That We Will Have Fusion Energy by 2030 thumbnail

Fusion on the Horizon In the continuous pursuit of a truly renewable and clean energy source, nothing compares to nuclear fusion. Although scientists have already found ways to harness the energy from the reaction that powers stars, it hasn’t been an easy feat. Despite the advances in research pertaining to nuclear fusion, there still isn’t […]


Trump says the Atlantic, Arctic could soon be open to oil drilling

Trump says the Atlantic, Arctic could soon be open to oil drilling thumbnail

The White House is making a bid to overturn the Obama administration’s five-year plan forbidding oil and gas exploration in the Arctic and Atlantic oceans and will examine opportunities to drill almost anywhere off the U.S. coast. Interior Department officials said Thursday that opening most of the outer continental shelf to leasing is part of President Trump’s […]


Qatar Begins Turning Its Back On The US Dollar

Qatar Begins Turning Its Back On The US Dollar thumbnail

Late last week, Saudi Arabia and other members of the Gulf Cooperation Council (GCC) that are involved in attempting to isolate Qatar sent the tiny Gulf nation a list of 13 demands. They are insisting that Qatar meet these demands within ten days or face unspecified further action. The list of demands includes Qatar shutting […]


How can we manage Earth’s land?

How can we manage Earth’s land? thumbnail

Overpopulation, climate change, mass migration… our relationship with terra firma has never been more complicated. Could Earth’s land be an overlooked, increasingly precious resource? From the sky, it looks like an entire city is adrift in the Indian Ocean. A forest of tower-blocks rise above the emerald-coloured water while just a handful of trees poke […]


Saudi Arabia’s March Towards Civil War

Saudi Arabia’s March Towards Civil War thumbnail

Has Saudi Arabia’s brinkmanship and heavy-handed policies of intervention in the Middle East come back to haunt the desert kingdom? After decades of playing the role of middle man between foreign states and establishing itself as a regional power, Saudi Arabia’s policies of meddling in the affairs of neighbor states and support for terror appear […]


The Iran Nuclear Deal Faces ‘Death by a Thousand Cuts’

The Iran Nuclear Deal Faces ‘Death by a Thousand Cuts’ thumbnail

President Donald Trump decided against killing off the Iran nuclear deal in a day-one spectacular. It may face a lingering death instead. Trump’s administration sends out mixed signals on many issues, but on the need for a tougher line against Iran, it speaks with one voice. And words have been accompanied by action. In Syria, […]


Few resource-rich countries properly manage their natural resources

Few resource-rich countries properly manage their natural resources thumbnail

More than 80 per cent of the world’s major mining, oil and gas-producing countries fail to adequately govern the way they extract and manage natural resources, according to an index that tracks accountability and corruption. Eritrea was the worst performer in the annual index released by the New York-based Natural Resource Governance Institute (NRGI), while […]


The Fallacy Of Peak Oil Demand

The Fallacy Of Peak Oil Demand thumbnail

I have seen the handwriting on the wall for the coal industry for more than a decade. Not only is coal the most carbon-intensive of the fossil fuels, it is also the fuel that has the greatest number of potential replacements. Renewables may ultimately scale to displace a substantial fraction of our coal consumption, but […]


Coming to America

Coming to America thumbnail

Nearly 150 million people — or 4% of the world’s adult population — would move to the U.S. if they could. That figure is larger than the next four most popular destinations combined. If everyone who wanted to move to the U.S. had their way, the country’s total population would increase by almost 50%. Top […]


MEXICO Oil Reserves and Production

MEXICO Oil Reserves and Production thumbnail

This is a Guest Post by George Kaplan In dollar terms, since mid 2015 Mexico has been a net importer of hydrocarbons (oil, natural gas, petroleum products and petrochemicals combined). To date it has been a relatively small and fairly constant amount, but with their oil production declining, and oil prices apparently continuing to fall […]


Iraq production steady at 4.58 million bpd

Iraq production steady at 4.58 million bpd thumbnail

Iraq has steadily produced about 4.58 million barrels per day (bpd) between March and May, according to an Iraq Oil Report analysis based on data gathered from each of the country’s oil fields. That figure, which includes both federal Iraq and the autonomous Kurdistan region, differs significantly from data compiled both by Iraq’s Oil Ministry […]


Economist predicts $60 oil “relatively soon”

Economist predicts $60 oil “relatively soon” thumbnail

Oil prices will jump over $60 “relatively soon,” according to Statoil chief economist Eirik Waerness, who spoke to a news media. According to Waerness, $60 barrel is unlikely to happen as soon as tomorrow, but the goal will be met sooner, rather than later, on a 2050 timeline. A series of “surprises” have affected the […]


How sustainable is China’s future energy demand?

How sustainable is China’s future energy demand? thumbnail

A new report by S&P Global’s China Senior Analyst Group*, entitled “China’s Sustainable Energy Future Depends on Efficiency, Economic Transition, And Renewables — Not Slower GDP Growth” finds that China will need to take a radically different path of energy consumption from what developed nations currently follow in order to avoid a spiking oil import bill. Eight […]


An academic battle over the US energy future isn’t just theoretical

An academic battle over the US energy future isn’t just theoretical thumbnail

It’s been called Sayre’s Law: The idea that the viciousness of battles in academia is in inverse proportion to the importance of the issue at the center of the fight. That’s not the case, however, with the conflict that is raging over the issuance of two papers by the Proceedings of the National Academies of […]


One-Fifth Of Humanity Could Become ‘Climate Change Refugees’

One-Fifth Of Humanity Could Become ‘Climate Change Refugees’ thumbnail

Researchers published a new study making the shockingly apocalyptic claim that nearly one-fifth of the world’s population will be forced from their due to man-made global warming. The study estimates there could be 2 billion “climate change refugees” by the year 2100 if nothing is done to reduce greenhouse gas emissions. It’s a worst-case scenario […]


Has the oil market reached ‘peak bear’?

Has the oil market reached ‘peak bear’? thumbnail

Investor bets against the oil price are piling up at breakneck speed, the market is still buckling under the weight of excess supply for a third year in a row, but has bearish sentiment got out of hand? The price of a barrel of oil has dropped nearly 20 percent between January and June and […]


The “Peak Oil” Pig Returns With A New Shade Of Lipstick

The “Peak Oil” Pig Returns With A New Shade Of Lipstick thumbnail

Heritage pigs stand in a pen at the Stone Barns farm in Pocantico Hills, New York, U.S., on Friday, April 21, 2017. Photographer: Cole Wilson/Bloomberg Proponents of a new strain of the always-tiresome, never-correct “Peak Oil” theory have returned to the public discourse , this time with a new theory coming from the other side […]


Bankers warn global crash could arrive ‘with a vengeance’

Bankers warn global crash could arrive ‘with a vengeance’ thumbnail

A new financial crisis is brewing in the emerging economies and it could hit “with a vengeance”, an influential group of central bankers has warned. Emerging markets such as China are showing the same signs that their economies are overheating as the US and the UK demonstrated before the financial crisis of 2007-08, according to […]


Russia Recalling its U.S. Ambassador

Russia Recalling its U.S. Ambassador thumbnail

Russia is reportedly recalling Ambassador Sergey Kislyak, the man who has emerged as a focal point in the FBI probe into Russia’s election meddling. BuzzFeed News is citing three sources saying Russia is calling Kislyak back home. The Kremlin did not confirm to the news outlet when Kislyak would head back to Russia, but the US-Russia […]


Oil Industry To Waste Trillions As Peak Demand Looms

Oil Industry To Waste Trillions As Peak Demand Looms thumbnail

ExxonMobil and its peers risk blowing $2.3 trillion on oil projects that will not be needed if the world hits peak demand in the next decade. A new report from The Carbon Tracker Initiative analyzed what would happen if the oil market saw demand peak by 2025, a scenario that would be compatible with limiting […]


Egypt’s Sisi hands control of two Red Sea islands to Saudi Arabia

Egypt’s Sisi hands control of two Red Sea islands to Saudi Arabia thumbnail

Egyptian President Abdel Fattah al-Sisi has ratified a maritime demarcation agreement that sees the country cede sovereignty over two uninhabited Red Sea islands to Saudi Arabia, the government said on Saturday. The Red Sea islands deal has become political sensitive for Sisi, who counts on Saudi Arabia as a key ally, after the proposed agreement […]


What I’ve been reading to write Oil Apocalypse

What I’ve been reading to write Oil Apocalypse thumbnail

A brief bibliography for the new series: 1) Anything I could find on small ground-unit tactics, including parts of the US Army field manuals and after-action reports from Australian, US, and British ground troops going back to the 1950s. In a few cases, the reports had a few lines about what it felt like to […]


As Oil & Gas Faces a ‘Last Cycle,’ a Generational Divide Emerges Over Its Future

As Oil & Gas Faces a ‘Last Cycle,’ a Generational Divide Emerges Over Its Future thumbnail

The oil and gas industry is facing its “last cycle,” according to consultancy Ernst & Young. What does that mean? It’s a “time when energy abundance, driven by technology, creates a permanent oversupply that not only keeps prices low but also allows consumers to make new choices about their energy usage.” In this new world, […]


Kunstler: The Technicolor Swan

Kunstler: The Technicolor Swan thumbnail

When I think of the Democratic Party these days, the image instantly comes to mind of little Linda Blair playing the demon-possessed child in the classic horror movie, The Exorcist (1973), most particularly the scene in which she spews a stream of pea soup-like projectile vomit into the face of kindly old Max von Sydow, […]


Trump Calls for U.S. ‘Dominance’ in Global Energy Production

Trump Calls for U.S. ‘Dominance’ in Global Energy Production thumbnail

Donald Trump will tout surging U.S. exports of oil and natural gas during a week of events aimed at highlighting the country’s growing energy dominance. The president also plans to emphasize that after decades of relying on foreign energy supplies, the U.S. is on the brink of becoming a net exporter of oil, gas, coal […]


The Shale Revolution’s Staggering Impact

The Shale Revolution’s Staggering Impact thumbnail

When new parents in Rio de Janeiro buy baby food in plastic containers, they are bringing home a little piece of the U.S. shale revolution. That boom in drilling has expanded the output of oil and gas in the U.S. more than 57% in the past decade, lowering prices for the primary ingredients Dow Chemical […]


Albert Bates: Concrete Solutions

Albert Bates: Concrete Solutions thumbnail

“We want to take the atmosphere back to its pre-industrial chemistry as quickly as possible. For that, we have biocomposites.“ We screen grabbed these images off earth.nullschool.net when we were looking at Tropical Storm Cindy on June 19. The top image shows Earth’s oceans. Red is hotter than normal. Blue is colder than normal. The […]


OPEC Looks Totally Bewildered by the Oil Market

OPEC Looks Totally Bewildered by the Oil Market thumbnail

It may be too soon to write OPEC’s obituary, but the oil producer club appears in urgent need of late-life care. It shows little understanding of where it is, how it got there or where it’s going. While it still manages to collect new members here and there, its core group looks more fragile than […]


The Greater Depression

The Greater Depression thumbnail

By Cognitive Dissonance https://www.patreon.com/CognitiveDissonance http://twoicefloes.com/ Once or twice a month Mrs. Cog and I pack up the car and head to Winston-Salem, North Carolina. For us poor mountain folk, that’s the big city and the best destination when our need for certain items calls for visiting particular stores. Each trip down from the mountain elicits […]


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