Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


News from October 2017

Let’s Talk Candidly About Energy

Let’s Talk Candidly About Energy thumbnail

Even though Americans are working more hours, many are still watching their paychecks erode and saving less money – if they are saving anything at all. Against this current backdrop, people across the country are spending an annual average of $3,512 per person on energy, according to the U.S. Energy Information Administration (EIA). With the […]


Trump to Auction Off Swaths of Gulf of Mexico to Oil Companies

Trump to Auction Off Swaths of Gulf of Mexico to Oil Companies thumbnail

The Trump administration made history Tuesday in proposing that nearly 77 million acres in the Gulf of Mexico be made available for companies wanting to purchase federal oil and gas leases — the largest offering ever in the United States. In announcing the sale, the Interior Department compared the targeted waters to “about the size of […]


WB Concerned Over Global Debt

WB Concerned Over Global Debt thumbnail

The World Bank has warned that unless countries across the globe address issues relating to borrowing, the world could be heading for another financial crisis. In its World Economic Outlook report for October 2017, it noted that discouraging further debt build-up through measures that encourage business investment and discourage debt financing will help curb financial […]


‘Transformation Is Happening’: Saudi Aramco’s Chief on Future of Oil

‘Transformation Is Happening’: Saudi Aramco’s Chief on Future of Oil thumbnail

As Saudi Aramco, the Saudi national oil company, prepares for a widely-awaited initial public offering next year, its chief executive, Amin H. Nasser, is at the center of the planning. Mr. Nasser has run Aramco, which produces more oil than any other company in the world, since 2015, and also oversees a wide range of […]


US oil floated on cheap money

US oil floated on cheap money thumbnail

How much has the US oil industry been inflated, crushed and generally distorted by the Federal Reserve’s monetary force-feeding over the past nine years? According to my probing along the stages of production and trading, the answer is “a lot”. Yes, there have been dramatic developments in hydrocarbon production technology, but those looked even better […]


7.5 Billion People — That’s a lot!

7.5 Billion People — That’s a lot! thumbnail

As the inimitable Yogi Berra once said, “It’s tough to make predictions, especially about the future.” And indeed it is. Some guesswork is always involved and surprises crop up that change the course of events. Yet, it is probably clear to most of us that the world is likely to become an increasingly and unpleasantly […]


World Crude Oil Supplies per July 2017

World Crude Oil Supplies per July 2017 thumbnail

In this post I present developments in world crude oil (including condensates) supplies since January 2007 and per July 2017. In this post the world crude oil (inclusive condensates) supplies is split into three entities, North America [Canada, Mexico and the US], OPEC(13) and other Non OPEC [World – {North America + OPEC(13)}] with a […]


Turns Out, the US Does Have That Iraqi Oil

Turns Out, the US Does Have That Iraqi Oil thumbnail

Before America’s Twitter-loving president made it to the Oval Office, a recurring theme was that the U.S. should have gotten hold of Iraq’s oil after toppling Saddam Hussein. There’s this: We should have gotten more of the oil in Syria, and we should have gotten more of the oil in Iraq. Dumb leaders. — Donald […]


Watch Our New Documentary About the Future of Fusion Energy

Watch Our New Documentary About the Future of Fusion Energy thumbnail

Every second for the last four-and-a-half billion years, trillions of hydrogen atoms have been converted into helium in the Sun’s core and released an immense amount of energy in the process. This is a process known as nuclear fusion, and figuring out how to harness this source of virtually limitless clean energy on Earth has […]


The World’s New Reserve Currency? Everything You Need To Know About PetroYuan

The World’s New Reserve Currency? Everything You Need To Know About PetroYuan thumbnail

Earlier this week, we pointed out that the ‘PetroYuan’ is on the verge of becoming reality with Graticule’s Adam Levinson noting that the birth of a yuan-denominated oil contract will be a “huge story” in the fourth quarter, and will be a “wake up call” for investors who haven’t paid attention to the plans. As […]


Energy Efficiency as a Resource: The Power of Getting More from Less

Energy Efficiency as a Resource: The Power of Getting More from Less thumbnail

A successful transition to a 21st Century Electricity System requires careful consideration of a range of issues that will ultimately redefine the regulatory framework and utility business model while creating new opportunities for third-party providers and customers to contribute to the operation of the electricity system.  In this third in a series published by Utility Dive, AEE […]


Inflection Point: Oil’s Inevitable Rise

Inflection Point: Oil’s Inevitable Rise thumbnail

Summary In this series of articles, we’re summarizing the global oil situation as of Q3 and looking ahead. The continuing stock draws in crude and petroleum products are simply unsustainable and will lead to an oil price correction. Inventory declines have accelerated, and will continue unabated given increase in demand and underproduction. We recently provided […]


Heinberg: Puerto Rico is our Future

Heinberg: Puerto Rico is our Future thumbnail

My hometown of Santa Rosa, California, and surrounding communities were decimated by wildfires during the week of October 9, with entire neighborhoods completely erased. If you want a sense of how bad the fires were, watch this 11-minute video clip put together by three Berkeley firefighters. For a more personal view of the consequences of […]


From Russia With Love: A Super-Chilled Prize for China

From Russia With Love: A Super-Chilled Prize for China thumbnail

CNPC will be first recipient of Arctic project’s fuel Chinese investment helped defray impact of U.S. sanctions The ‘Christophe de Margerie’ Arctic LNG tanker. Photographer: Olga Maltseva/AFP via Getty Images Russia’s Yamal LNG, set to be the world’s biggest Arctic producer of liquefied natural gas, plans to send its debut cargo to China as thanks […]


The Fragile Gold Industry.

The Fragile Gold Industry. thumbnail

This article is reposted from Steve Rocco’s website with the kind permission of the author. It illustrates a typical theme of the “Cassandra’s Legacy” blog, the fact that all human enterprises are dynamic; they evolve, change, and adapt to the challenges generated by the environment.  In particular, the mining industry follows a typical dynamic cycle […]


Lies And Distractions Surrounding The Diminishing Petrodollar

Lies And Distractions Surrounding The Diminishing Petrodollar thumbnail

There are a few important rules you have to follow if you want to join the consortium of mainstream economic con-men/analysts. Take special note if you plan on becoming one of these very “special” people: 1) Never discuss the reality that government fiscal statistics are not the true picture of the health of the economy. […]


More than half of Alaska’s oil reserve is up for bids

More than half of Alaska’s oil reserve is up for bids thumbnail

The U.S. Bureau of Land Management will be accepting oil exploration bids for more than half of the land on a Northern Alaska petroleum reserve that’s the size of Indiana. The bureau’s announcement on Wednesday is the largest lease sale to be offered in the National Petroleum Reserve-Alaska, according to Alaska’s Energy Desk. A total […]


Canada’s fossil fuel use to peak in 2019

Canada’s fossil fuel use to peak in 2019 thumbnail

The National Energy Board now projects fossil fuel use in Canada will peak in 2019, a major downward revision of similar estimates it has made annually for the past decade. It’s the first time in the 11-year history of the NEB’s annual reports on the topic that a peak in fossil fuel demand has been included […]


“It’s A Huge Story”: China Launching “Petroyuan” In Two Months

“It’s A Huge Story”: China Launching “Petroyuan” In Two Months thumbnail

As a reminder, nothing lasts forever… The World Bank’s former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system. “The dominance of the greenback is the root cause of global financial and economic crises,” Justin Yifu Lin told Bruegel, a Brussels-based […]


What we’ve learned from largest methane gas leak in the U.S.

What we’ve learned from largest methane gas leak in the U.S. thumbnail

Invisible disaster: Infrared images from the Environmental Defense Fund show a huge plume spewing from the ground. Two years ago today, the largest U.S. methane leak was discovered. The leak in northwest Los Angeles County focused attention on the state’s aging gas wells. Disaster snapshot The leaky well was one of 115 wells connected to […]


If Mexico Goes MIA, Permian Gas Could Flame Out

If Mexico Goes MIA, Permian Gas Could Flame Out thumbnail

Natural gas spot prices fell to below $3.00 per million British thermal units on Tuesday. United States Natural Gas (ticker: UNG) notched a 0.31% decline so far. The Energy Information Administration is expected to release supply and demand data later this week, which tends to move gas prices on the day, but natural gas and natural gas stock […]


Let’s End Subsidies For Fossil Fuels, Not Renewables

Let’s End Subsidies For Fossil Fuels, Not Renewables thumbnail

Environmental Protection Agency Administrator Scott Pruitt recently proposed eliminating federal tax credits for wind and solar power, arguing that they should “stand on their own and compete against coal and natural gas and other sources” as opposed to “being propped up by tax incentives and other types of credits….” Stand on their own? Pruitt surely […]


Norway Unfazed By Peak Oil Concerns

Norway Unfazed By Peak Oil Concerns thumbnail

When crude oil demand will peak is anyone’s guess. Forecasts vary widely. Wood Mackenzie says that peak demand is “very real,” and sees a decline of 4 million bpd between 2020 and 2035. Other majors including BP and Total SA see peak demand as coming between 2025 and 2040, as a result of clean energy government initiatives, slower economic […]


The ‘sweet spots’ fueling the US shale oil boom ‘will not last forever,’ Saudi Aramco CEO says

The ‘sweet spots’ fueling the US shale oil boom ‘will not last forever,’ Saudi Aramco CEO says thumbnail

Saudi Aramco’s CEO says he does not worry about the booming U.S. shale oil output. The “sweet spots” that American frackers are focusing on will eventually deplete, forcing them to tap less lucrative acreage, Amin Nasser says. Saudi Aramco’s Amin Nasser, CEO of the world’s largest oil company, says he does not spend much time […]


California Cars Are Running on Restaurant Grease

California Cars Are Running on Restaurant Grease thumbnail

California’s battle against climate change is being fought more fiercely in fast food restaurants than in Tesla Inc.’s car factory in Fremont. Seven years after the Golden State began offering credits to producers of low-carbon fuels, cities and companies across California are using diesel brewed from fats and oils to fuel everything from fire trucks […]


Draining the storage glut

Draining the storage glut thumbnail

A shift in most oil markets from contango to backwardation is changing the outlook for the global storage business World oil inventories are falling, and the two-year bonanza that handsomely rewarded oil-storage owners may well have run its course. After building through 2014 and 2016, commercial oil inventories in rich countries ended 2016 unchanged from […]


Oil Just Isn’t That Important to Petrocurrencies Right Now

Oil Just Isn’t That Important to Petrocurrencies Right Now thumbnail

Foreign inflows trump crude as biggest driver of ruble Latin American currencies move in opposite direction to oil The currencies of some of the world’s biggest crude exporters are breaking their historic relationship with the oil price. The Canadian dollar has weakened, the Norwegian krone is little changed and the Russian ruble has strengthened just […]


Oil: This Time It’s Different

Oil: This Time It’s Different thumbnail

Summary In this piece, I decided to tackle some recent oil-related data that shows a continued recovery in the market. Prices aren’t responding, but the underlying data suggests the recovery in the market now is real. I anticipate further improvements moving forward that will prove bullish for oil investors. Another week, another set of mostly […]


One billion ‘invisible people’ miss out on basics

One billion ‘invisible people’ miss out on basics thumbnail

(FILES) This file photo taken on September 24, 2016 shows children from the Suri tribe posing in Ethiopia’s southern Omo Valley region near Kibbish. More than 1.1 billion people worldwide officially don’t exist — going about their daily lives without proof of identity. The issue leaves a significant fraction of the global population deprived of […]


Kunstler: Down With Sex!

Kunstler: Down With Sex! thumbnail

It’s interesting to see how, in a culture so pornified that any nine-year-old can watch sex acts on-screen all the live-long day, we discover that decorum is absent in American life. This, at the same time that the more Gnostic political Leftists want to transform human nature by erasing sexual categories in their quest to […]


Next Page »



Oil News Categories


Recent Board Topics


Archive


LATEST NEWS HEADLINES


PO Real Time

@paulcurrion @RodZeidan @giancarlotorpi @BrankoMilan Willingly or by force we are going to make the transition because there is no alternative. The problem is what level of economic output we'll have after it. I doubt for example that we are going to see electrical planes. Will we have energy rationing like in the 40s ? #PeakOil

@paulcurrion @RodZeidan @giancarlotorpi @BrankoMilan If renewables were easy to implement and they had good EROIs then I wouldn't worry. But since most renewables have very low EROIs then I think we are heading towards catastrophe. Many industries depend on fossile fuels. And we need a hard rudder turn... #PeakOil

@RodZeidan @paulcurrion @giancarlotorpi @BrankoMilan And Growthers should give us a realistic way to increase fossile fuels production. But they ignore the problem and then wishfully hope that something like fusion power is going to come to the rescue. That's foolishness at its best ! #PeakOil