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News from December 2017

Tesla lines up buyers for electric semi-truck

Tesla lines up buyers for electric semi-truck thumbnail

PepsiCo is the latest company to go public with preliminary plans to buy electric semi-trucks from Tesla, which recently unveiled a rig with plans to begin production in 2019. Why it matters: While these are not final transactions, the announcements by major companies represent something of a corporate vote of confidence in Tesla despite its […]


Saudi Arabia Will Give Cash to Poorer Citizens Hit by Austerity

Saudi Arabia Will Give Cash to Poorer Citizens Hit by Austerity thumbnail

Saudi Arabia will begin cash transfers to low- and middle-income citizens this month, part of efforts to cushion the blow for families as the kingdom overhauls its oil-dependent economy. Monthly cash payments will start on Dec. 21 to compensate Saudis affected by measures including subsidy cuts and new taxes, officials said Tuesday. The cabinet approved […]


Thermonuclear Fusion: How Scientists Hope to Extract Energy of Stars on Earth

Thermonuclear Fusion: How Scientists Hope to Extract Energy of Stars on Earth thumbnail

The International Thermonuclear Experimental Reactor (ITER) project has reached an important milestone, passing the 50% completion mark this month. Nuclear physicist Anatoly Krasilnikov, director of Russia’s ITER Project Center, told the RIA Novosti news agency about Russia’s key role in the project. ITER project general director Bernard Bigot announced last week that the ambitious $23.7 […]


EIA Bashers Should Check Their Own Numbers

EIA Bashers Should Check Their Own Numbers thumbnail

Summary Empirical data does not support multiple recent allegations that the EIA’s reporting or forecasts are “wrong.” The wave of frivolous accusations against the EIA in the blogosphere preys on the least protected category of investors. A competent, independent, bias-free EIA must be safeguarded. This idea was discussed in more depth with members of my […]


US EIA cuts 2018 world oil demand growth forecast

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The U.S. Energy Information Administration on Tuesday cut its 2018 world oil demand growth forecast by 40,000 barrels per day to 1.62 million bpd. In its monthly forecast, the agency raised its oil demand growth estimate for 2017 by 80,000 bpd to 1.39 million bpd. reuters


Saudi Arabia Plans to Raise Gas Prices by 80% in January

Saudi Arabia Plans to Raise Gas Prices by 80% in January thumbnail

Saudi Arabia plans to raise domestic gasoline and jet fuel prices in January, part of a program to gradually eliminate energy subsidies as the kingdom seeks to overhaul its economy and balance the budget, according to a person with knowledge of the matter. Gasoline prices are set to increase by about 80 percent, while jet […]


US Geological Survey To Reevaluate Bakken Oil Reserves

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Federal geologists will lead a push to reevaluate the total amount of recoverable oil near North Dakota’s Bakken formation, according to the state’s Senator John Hoeven. Hoeven requested the new analysis from the U.S. Geological Survey in an attempt to attract new investors to the shale play. The survey will now include 17 other formations […]


Iran Ready for Broader Cooperation With China

Iran Ready for Broader Cooperation With China thumbnail

I ran is ready to engage in cooperation over major projects with China, a former member of the Majlis Economic Commission said. “Iran and China should take full advantage of the opportunities and resources and carry out fundamental planning for cooperation and joint investment as soon as possible and we are totally ready to take […]


The Super Basin Behind US NatGas Dominance

The Super Basin Behind US NatGas Dominance thumbnail

Natural gas production in the United States has skyrocketed over the past five years, making the carbon-light fossil fuel cheaper to access and plentiful for export, according to a new report by the Energy Information Administration. Production in the Appalachia region alone has seen a jump of 14 billion cubic feet per day since 2012, […]


The Great Energy Transition: A Progress Report

The Great Energy Transition: A Progress Report thumbnail

On Nov. 24 in Stockholm, there was a demonstration of the progress that the Italian, Andrea Rossi, has made in his decades-long effort to develop a new source of energy based on Low Energy Nuclear Reactions (LENR). As Rossi’s last demonstration of an earlier version of his energy-producing device was back in October of 2011, […]


The Biggest Bubble Ever, In Three Charts

The Biggest Bubble Ever, In Three Charts thumbnail

Each quarter, Credit Bubble Bulletin’s Doug Noland posts a “flow of funds” report that analyzes the debt and securities markets data released by the Fed in its Z.1 Report. It’s always shocking to see the numbers we’re dealing with, but even more so lately as history’s biggest financial bubble starts to dwarf its predecessors. Here’s […]


Trump’s Interior secretary: Shameless tool of oil and gas industries

Trump’s Interior secretary: Shameless tool of oil and gas industries thumbnail

Interior Secretary Ryan Zinke loves to portray himself as a humble, outdoorsy man of the people, a loving steward of the purple mountain majesties and fruited plains so dear to the American people. In defending the Trump administration’s recent choice to drastically shrink the Bears Ears and Grand Staircase-Escalante national monuments in Utah, Zinke claimed, […]


Footing The $9 Trillion Renewable Bill

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As the world is growing increasingly conscious of the need to invest in cleaner and more sustainable energy to limit the impact of global warming, it’s no secret that a faster and universal renewable energy transition will require trillions of dollars of investment over the next couple of decades. The trillion-dollar question is, who will […]


Kunstler: Abracadabra

Kunstler: Abracadabra thumbnail

And so, as they say in the horror movies, it begins…! The unwinding of the Federal Reserve’s balance sheet. Such an esoteric concept! Is there one in ten thousand of the millions of people who sit at desks all day long from sea to shining sea who have a clue how this works? Or what […]


Synergies Between Nuclear Energy and Coal

Synergies Between Nuclear Energy and Coal thumbnail

Some recent converts to nuclear energy advocacy are offended and confused by the fact that nuclear energy and coal have been lumped together in the Department of Energy’s recent effort to return profitable conditions to established power plants that do not depend on favorable weather or just-in-time natural gas fuel delivery. A segment of the […]


Michael Lynch: How To Read Conflicting Energy Headlines

Michael Lynch: How To Read Conflicting Energy Headlines thumbnail

The Internet is to public discourse what pamphleteering was in the 18th century:  an outlet for opinions that require minimal input.  Using a search engine allows a pundit to find support for almost any opinion, which is very useful if you’re trying to win an argument as opposed to get to the truth.  In this […]


Saudi Aramco plans for a life after oil

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Rising from the desert like a metallic oasis, the Sadara chemicals plant in Saudi Arabia’s eastern province is a labyrinth of pipes, tanks and furnaces covering an area three times the size of Monaco and made with enough steel to build the Golden Gate bridge twice. The $20bn project, completed in September, is the largest […]


The Energy Transition: Too Little, Too Late

The Energy Transition: Too Little, Too Late thumbnail

  The idea of the energy transition (“energiewende” in German) originated in the 1980s and gained legislative support in Germany in 2010. The idea is good and also technically feasible. But it requires sacrifices and, at present, sacrifices are politically unthinkable since most people don’t realize how critical the situation really is. What we are […]


Iraq and Iran sign Kirkuk oil swap deal

Iraq and Iran sign Kirkuk oil swap deal thumbnail

Iraq has agreed to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil, Iraqi Oil Minister Jabar al-Luaibi said on Saturday. The agreement signed by the two countries provides for Iran to deliver to Iraq’s southern ports, on the Gulf, “oil of the same characteristics […]


Sale of Arctic oil leases goes bust

Sale of Arctic oil leases goes bust thumbnail

The federal oil-lease sale promoted as the largest ever in Alaska’s Arctic Reserve sold only seven tracts, or 0.8% of the 900 tracts offered, undercutting Republican arguments that they can help pay for their proposed $1.5 trillion tax cuts for the wealthy by selling oil leases in the Alaskan wilderness. ConocoPhillips Alaska and Anadarco E&P Onshore LLC jointly submitted […]


The Washington swamp is filled with ethanol

The Washington swamp is filled with ethanol thumbnail

December marks the tenth anniversary of the passage of the Energy Independence and Security Act (EISA), and its wildly expansive Renewable Fuel Standard (RFS), better known as the ethanol mandate. President Trump recently paid homage to the RFS, as all feel they must do to play politics in Iowa. Too bad. Trump, who claims he […]


Doomsday Machine is in Trump’s hands

Doomsday Machine is in Trump’s hands thumbnail

In 1971, Daniel Ellsberg released the Pentagon Papers, thousands of pages of the Pentagon’s secret history of U.S. involvement in Vietnam, exposing the government’s lies and helping to end the war. President Richard Nixon’s national security adviser, Henry Kissinger, called Ellsberg “the most dangerous man in America.” Now, at 86 years old, Ellsberg is revealing […]


Kunstler: Stranger Things

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   The hidden agenda in the so-called tax reform bill is to act as stop-gap quantitative easing to plug the “liquidity” hole that is opening up as the Federal Reserve (America’s central bank) makes a few gestures to winding down its balance sheet and “normalizing” interest rates. Thus, the aim of the tax bill is […]


What Life Is Like For A Million People In Puerto Rico Who Still Don’t Have Power

What Life Is Like For A Million People In Puerto Rico Who Still Don’t Have Power thumbnail

If you ever wondered what it would look like if the grid collapsed here on the mainland, the island of Puerto Rico is a tragic, real-life case study. These stories show us what life is like for more than a million people who STILL don’t have power and running water nearly 3 months after Hurricanes […]


Jerusalem Riots Spread…

Jerusalem Riots Spread… thumbnail

Jerusalem riots spread to Indonesia and Malaysia as terror group Hamas promises ‘day of rage’ over Trump over embassy move Donald Trump sparked protests after announcing the US would recognise Jerusalem as the capital of Israel RIOTS sparked by Donald Trump’s provocative move to recognise the Holy City of Jerusalem as Israel’s capital have spread to […]


China sues Venezuela’s oil company over unpaid bills

China sues Venezuela’s oil company over unpaid bills thumbnail

China is turning up the heat on Venezuela. One of its biggest state-owned companies has filed a lawsuit against Venezuela’s oil company, PDVSA, in a U.S. court, claiming millions of dollars it says it is owed. Chinese oil and gas company Sinopec is suing PDVSA for $23.7 million plus interest and damages, accusing the Venezuelan […]


ITER nuclear fusion project faces delay over Trump budget cuts

ITER nuclear fusion project faces delay over Trump budget cuts thumbnail

ITER, an international project to build a prototype nuclear fusion reactor in southern France, said it is facing delays if the Trump administration does not reconsider budget cuts. FILE PHOTO: A crane loads equipments at the construction site of the International Thermonuclear Experimental Reactor (ITER) in Saint-Paul-lez-Durance,Southern France, October 6, 2016. REUTERS/Jean-Paul Pelissier Seven partners […]


How to Launder $1 Billion of Iranian Oil

How to Launder $1 Billion of Iranian Oil thumbnail

Looking nervous and somber, the FBI’s star witness entered from the lockup and shuffled across the New York federal courtroom in a beige prison smock. The Turkish-Iranian gold trader took a seat at the witness stand for the hearing on Nov. 29, the second day of testimony in a money laundering and sanctions-evasion case brought […]


The Drastic Drop Off In US Oil Imports

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While the dust may now have settled on last week’s OPEC meeting, the cartel’s impact on U.S. oil inventories is set to linger on. Stocks are at their lowest level since January 2016, and are down over 80 million barrels from their peak in March – in spite of a 30 million barrel injection from […]


China’s Push to Trade Oil in Yuan Faces a Key Hurdle

China’s Push to Trade Oil in Yuan Faces a Key Hurdle thumbnail

China’s moves to set up trading oil in yuan have sparked enthusiasm about what could be a shift in the global financial system: a reduced role for the U.S. dollar. Players like Adam Levinson, founder of hedge fund Graticule Asset Management Asia, call it a “huge story” to come. But with policy makers prioritizing market […]


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