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News from January 2018

Oil producers will cooperate beyond 2018, says Saudi Arabia

Oil producers will cooperate beyond 2018, says Saudi Arabia thumbnail

Global oil producers are in agreement that they should continue cooperating on production after their deal on supply cuts expires at the end of this year, Saudi Arabia’s energy minister Khalid al-Falih said on Sunday. FILE PHOTO: Saudi Arabia’s Oil Minister Khalid al-Falih addresses a news conference after an OPEC meeting in Vienna, Austria, November […]


Anniversary of the Trump Presidency Part One: Peak Oil and the Deep State

Anniversary of the Trump Presidency Part One: Peak Oil and the Deep State thumbnail

Click to download the audio (MP3 format) As these words go to publication, millions are expected to take to the streets in centres across the United States, Canada and around the world, all in demonstrations timed with the anniversary of President Trump’s inauguration. The thrust of the Womens’ March on Washington and its various affiliates […]


Richard Heinberg: Post Carbon Music

Richard Heinberg: Post Carbon Music thumbnail

On November 30, 2017 at the New England Conservatory of Music, Richard performed Paganini’s “Sonata Concertata For Guitar And Violin” and spoke about what the future might mean for today’s young musicians and artists, and the important role they have to play in the societal transformation ahead.  Full transcript: Over the next few minutes I hope to […]


IEA prediction of explosive U.S. oil growth stokes OPEC fears

IEA prediction of explosive U.S. oil growth stokes OPEC fears thumbnail

OPEC’s fear that another surge of shale oil could neutralize its production cuts might be coming true. U.S. oil output is set for “ explosive” growth this year as prices rally, the International Energy Agency said on Friday. That was just one of a chorus of voices from Goldman Sachs group Inc. to OPEC itself […]


When Economic Growth Indicates Failure

When Economic Growth Indicates Failure thumbnail

Nothing can be duller than listening to an economist or other policy expert pontificate endlessly on such metrics as gross domestic product, stock market prices, employment, and consumer confidence. Most of all they talk about GDP: Rising GDP is good; falling GDP is bad. But as a measure of economic activity, GDP is what it […]


Extinction Anxiety

Extinction Anxiety thumbnail

(Address for “Psyche and the Spirit of the Times: Psychoanalyzing Trumpism” given at Antioch University Seattle.)   In order to talk about extinction anxiety I first need to address epistemological anxiety, otherwise, you won’t know if what I am saying to you is a bunch of ‘fake news’ served up by yet another privileged white […]


Oliver Stone’s “Ukraine On Fire” Documentary Released In The West

Oliver Stone’s “Ukraine On Fire” Documentary Released In The West thumbnail

Oliver Stone’s seminal documentary Ukraine on Fire has finally been made available to watch in the West. Investigative journalist Robert Parry reveals how US-funded political NGOs and media companies have emerged since the 1980s, replacing the CIA in promoting America’s geopolitical agenda abroad. As Russia-Insider details, Ukraine on Fire provides a historical perspective for the deep divisions in the […]


“We Must Avoid Day Zero” – Cape Town Is 90 Days Away From Running Out Of Water

“We Must Avoid Day Zero” – Cape Town Is 90 Days Away From Running Out Of Water thumbnail

If you’ve ever needed a reason to store extra food and water, this just might be it.   Cape Town, South Africa is on schedule to run out of water in less than 95 days, and when they do, the government will turn off the taps. “There are only 95 days left before we reach […]


Peak oil demand and its implications for prices

Peak oil demand and its implications for prices thumbnail

Even if oil consumption reaches a peak and then starts to fall, the world will still need large quantities of oil for many decades to come. “Global oil demand is likely to continue growing for a period, driven by rising prosperity in fast-growing developing economies,” they wrote in a paper published on Monday. “But that […]


How to convince the public of the danger of anthropogenic global warming

How to convince the public of the danger of anthropogenic global warming thumbnail

Last year, the vagaries of life led me to chair a commission charged with examining the candidates for the admission to the Italian Chemists Association. It was a rather formal exam that was supposed to provide the successful applicants with the legal status necessary, for instance, for certifying chemical analyses. Overall, the applicants did poorly, […]


Africa Has Shitloads Of Resources

Africa Has Shitloads Of Resources thumbnail

Anyone who knows me — or has read my resume below — will understand why I have to comment on the horrendous outburst by the President of the United States on January 11th. I heard Jesse Watters on Fox News explain that the s***hole remarks were just harmless bar talk, but if we can agree […]


Venezuela Has Some Bad News and Some Really Bad News

Venezuela Has Some Bad News and Some Really Bad News thumbnail

I think we can all agree that, absent a war or some deliberate strategy, a 14 percent drop in a country’s oil production in the space of one year is not a good thing. Even worse, though, is a 29 percent drop. These two realities, both undesirable, were presented for Venezuela in OPEC’s latest monthly report, […]


The World’s Oil Kings Are Under Threat

The World’s Oil Kings Are Under Threat thumbnail

Uneasy lies the head that wears a crown in the world’s biggest oil market. Middle East producers who for decades reigned as the undisputed leaders of oil sales to Asia are sensing a threat to their dominance, which is goading them to review age-old habits. Before the U.S. shale boom and the biggest price crash […]


‘Relentless’ growth could see the US topple Russia, Saudi Arabia as world’s largest oil producer

‘Relentless’ growth could see the US topple Russia, Saudi Arabia as world’s largest oil producer thumbnail

“This year promises to be a record-setting one for the U.S.,” the IEA said in its closely-watched report published Friday The latest monthly report from the IEA comes at a time when crude futures have climbed to highs not seen since the early days of a slump in December 2014 One of the main beneficiaries […]


China’s birthrate dropped despite allowing 2-child families

China’s birthrate dropped despite allowing 2-child families thumbnail

The birthrate in China fell last year despite the country easing its family planning policies and allowing all couples to have two children, a result parents say of the stresses of urban life. There were 17.2 million births in the country last year, down from 17.9 million in 2016, the National Bureau of Statistics reported […]


Consumerism’s Dirty Little Secret: Are We Buying All the Wrong Things?

Consumerism’s Dirty Little Secret: Are We Buying All the Wrong Things? thumbnail

I have some terrible news… You’re stranded in the desert! For three days, you’ve traveled in the heat without food or water. Your eyelids are heavy and your legs even heavier. Your lips are cracked, too dry now to even bleed. For miles and miles, all you see is sky, rock and sand. Your foot […]


As Petro-Yuan Looms, Bundesbank Adds Renminbi To Currency Reserves

As Petro-Yuan Looms, Bundesbank Adds Renminbi To Currency Reserves thumbnail

Just days after China’s (denied) threat to slow/stop buying US Treasuries, and just days before the launch of China’s petro-yuan futures contract, Germany’s central bank confirmed it would include China’s Renminbi in its reserves. The FT reports that Andreas Dombret, a member of Deutsche Bundesbank’s executive board, said at the Asian Financial Forum in Hong […]


What’s The Limit For Permian Oil Production?

What’s The Limit For Permian Oil Production? thumbnail

The ‘hottest shale play’ has been the media’s favorite cliché for the Permian Basin over the past year. And while cliché, the basin straddling West Texas and New Mexico has lived up to this description—its oil production, unlike that in other basins, did not fall off a cliff during the downturn, it recently beat its […]


Banks expected to share tiny proportion of mammoth Saudi Aramco IPO

Banks expected to share tiny proportion of mammoth Saudi Aramco IPO thumbnail

The banks that will advise and execute Saudi Aramco’s stock market listing are expected to share a tiny proportion of the $100 billion Riyadh hopes to raise in its initial public offering, according to banking sources and industry insiders. Investment banks involved in the listing IPO-ARMO.SE are expected to share a fifth of a percent […]


New York City Will Divest Pension Funds from Fossil Fuel Companies

New York City Will Divest Pension Funds from Fossil Fuel Companies thumbnail

Today New York Mayor Bill De Blasio announced a goal to divest New York City’s pension funds from fossil fuel reserve owners within five years. This makes New York the first major American city to announce such a move. According to a statement, the city’s five pension funds have approximately $5 billion invested in over 190 […]


Saudi Arabia’s Ambitious Plans for Nuclear Energy

Saudi Arabia’s Ambitious Plans for Nuclear Energy thumbnail

It’s not clear that the plans will work as expected in terms of the announced timeline of completing 16 reactors (17.6 Gwe) by 2032. The cost of the program is close to $90 billion which over a period of more than two decades for a feasible schedule would involve a significant diversion of oil revenue […]


A Unifying Theory of Energy

A Unifying Theory of Energy thumbnail

A unifying theory of energy is the second installment of an energy trilogy beginning with The Energy/Environment Algorithm. Investopedia describes a ‘Tragedy of The Commons’ as an economic problem in which every individual tries to reap the greatest benefit from a given resource. As demand exceeds supply consumers directly harm others who are no longer […]


To save our oceans, we must halt human population growth

To save our oceans, we must halt human population growth thumbnail

As a lifelong surfer who has never lived more than a mile from the ocean, I heartily agree with every claim they make about the perils of overfishing and the destruction of coral reefs. I am afraid my young grandson will inherit oceans that are vast wastelands and never know the joys I experienced in […]


Exxon discovers oil, gas in Papua New Guinea

Exxon discovers oil, gas in Papua New Guinea thumbnail

Exxon Mobil Corp. has discovered natural gas and oil in the western province of Papua New Guinea and has begun evaluating the find with its partners. The Texas oil company drilled an exploration well more than 8,900 feet into the earth and found hydrocarbons in sandstone reservoirs, confirming that the gas-rich field encompassing the Toro […]


Prepare For The Imminent Economic Collapse 2018

Prepare For The Imminent Economic Collapse 2018 thumbnail

Will the US Economic Collapse Happen in 2018? The economic forecast for 2018 is more than bleak, and there is more than enough economic data out there to show there could be an economic collapse and stock market crash in 2018.


Million Barrels Per Day Could Go Offline In 2018

Million Barrels Per Day Could Go Offline In 2018 thumbnail

Venezuela’s oil production has been falling for years, but 2018 could mark a new, darker chapter for the South American nation.   Late last year, Venezuela’s government defaulted on millions of dollars’ worth of debt, with larger and more significant payments maturing this year. The ability to service billions in debt payments this year is almost […]


Tom Whipple: Peak Oil Review – 15 January 2018

Tom Whipple: Peak Oil Review – 15 January 2018 thumbnail

Quote of the Week “Just like Florida, our states are unique with vibrant coastal economies. Providing all of our states with the same exemption from dangerous offshore oil and gas drilling would ensure that vital industries from tourism to recreation to fishing are not needlessly placed in harm’s way.” Letter from 22 Democratic US senators […]


The equations are changing for the oil industry

The equations are changing for the oil industry thumbnail

In 1846, the US was the behemoth of the whaling industry, with Nantucket Island and New Bedford, Massachusetts its twin capitals. Demand for whale oil, as industrial lubricants or as fuel for heating and lighting, had driven the growth of the whaling industry by a factor of fourteen since 1816. New Bedford had the highest […]


The world is not awash in oil yet


The world is not awash in oil yet
 thumbnail

The past seven years were both very exciting, and very difficult for the global energy markets. Today’s market faces two key challenges, both the product of human innovation and technological advancement. The first is the challenge faced by oil producers to rebalance the market amid new supplies from unconventional sources due to new and improved […]


Buy Oil, Make Money

Buy Oil, Make Money thumbnail

The last time I got into a row over oil prices with Christian DeHaemer, the U.S. oil industry was in a far different state. It was years ago, before the Bakken in North Dakota became a household name. Back then, our shouting matches would reach a crescendo in the office, and he just happened to […]


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