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Oil Traders Warn There’s a Supply Crunch Looming

Oil Traders Warn There’s a Supply Crunch Looming thumbnail

The oil market is risking a supply crunch as producers cut spending on major projects to focus on short-term low-cost shale output in the U.S., some of the top crude and products traders said. With oil prices hovering around $50 a barrel, current project spending is focused on “short-cycle” projects involving U.S. shale deposits, Daniel […]


Country With The World’s Largest Oil Reserves Runs Out Of Gasoline

Consumption

In a testament to the efficiency of socialism, leftist-run Venezuela has long prided itself on selling its citizens the world’s cheapest gasoline… that is when it has gasoline to sell. While fuel supplies in the country with the world’s largest proven oil reserves… … have continued flowing despite monetary collapse and hyperinflation, a domestic oil […]


Gail Tverberg: Why Energy-Economy Models Produce Overly Optimistic Indications

Gail Tverberg: Why Energy-Economy Models Produce Overly Optimistic Indications thumbnail

I was asked to give a talk to a committee of actuaries who are concerned about modeling the financial future of programs, such as pension plans, given the energy problems that are often discussed. They (and the consultants that they hire) have been using an approach that puts problems far off into the future. I […]


There Is No Such Thing As Peak Oil Demand

There Is No Such Thing As Peak Oil Demand thumbnail

Notwithstanding that oil demand has increased for over 150 years, it will eventually stop increasing. If oil demand were to reach an actual peak, then the top might be easier to predict. As it stands, the forecast models of demand are likely predicting peak demand far later than it will be. The so-called balance of […]


Oil Price to Crash to $20 then Spike MUCH Higher – Peak Oil Talk with Hedge Fund Manager Erik Townsend

Consumption

First time guest Erik Townsend really gives us the broad view on world oil supply and where we are in the peak oil curve. He’s predicting some volatility in the price, well to clarify, a crash to near $20 and then spike much higher within 5 years as the supply gets choked out. If you […]


Doomsday bunker builder ready for ‘nuclear World War III’

Doomsday bunker builder ready for ‘nuclear World War III’ thumbnail

Bruce Beach has thought a lot about restoration over the years, except his concept has nothing to do with restoring cars and houses. For Beach, a Kansas native who moved to Canada with his wife Jean in 1970, it’s all about preserving humanity after a major catastrophe — like a full scale nuclear war. “The […]


The myth of peak oil

Consumption

Saudi Oil Minister Khalid al-Falih has criticised the West for “promoting the myth of peak oil demand and scare-mongering over vast stranded resources in the fossil-fuel industry”. Speaking at a summit in Houston, Texas, he said that a “campaign of attacks” on the oil industry will “deter trillions of dollars of vitally needed investment, leading […]


Rescuing Los Angeles

Rescuing Los Angeles thumbnail

“How can we use our hard wiring to communicate to the herd that it is time to veer off from a race towards the cliff’s edge which most don’t yet see?”   In the concrete desert that is downtown Los Angeles we were blessed to find a green oasis at the corner of Vermont and […]


Russia Prepares for Oil at $40

Consumption

Perhaps the Bank of Russia knows something the world doesn’t. As the Organization of Petroleum Exporting Countries and its allies prepare to meet for a review of their production cuts this weekend, the central bank of the world’s biggest energy exporter is hunkering down for years of oil near $40 a barrel. While analysts in a […]


There Will Be Those Who Perish In The Next Crisis, And Those “Who Survive In Underground Luxury”

There Will Be Those Who Perish In The Next Crisis, And Those “Who Survive In Underground Luxury” thumbnail

Ultimately, no one can stop what is coming. The haves and have nots of the next, gritty era of aftermath will be those who have the means to survive when the system has failed, and those who do not. For the wealthy, and prepper minded elite, hidden fortified layers purchased for insurance will preserve most […]


Don’t Expect Low Investment To Raise Oil Prices

Don’t Expect Low Investment To Raise Oil Prices thumbnail

In the late 1980s, some people in the oil industry were said to have bumper stickers reading, “God give me one more boom and I promise not to mess it up.”  (When the price was over $100, I joked about people investing in bumper stickers.)  With the recent recovery in oil prices to $50 a […]


Why Rate Design Matters for Energy Efficiency

Consumption

Today, most American households pay for electric service via a two-part electric rate. This typically consists of a small, fixed customer charge ($ per month) and an energy rate applied per unit of electricity ($ per kilowatt hour). There are some variations on this model, including energy rates that vary based on time of day […]


The Limits of Growth

Consumption

Infrastructure investments need reliable basic conditions, according to Oliver Bäte, the chief executive of Allianz and head of the B20 working group “Financing Growth & Infrastructure.” The world economy is creaking under the burdens of weak growth, weak trade and low levels of employment – and if that wasn’t enough, it has a deficit making […]


Under-$50 WTI Oil Price Will Be ‘Short Lived’

Under-$50 WTI Oil Price Will Be ‘Short Lived’ thumbnail

The WTI oil price of under $50 per barrel won’t last for long, according to oil and gas analysts at GMP FirstEnergy. “We think the foray below $50 per barrel (WTI) is going to be short lived as it is abundantly clear that the global crude oil market has less supply available now than it […]


Helping Others Eschew Oil How to Make Your Life Less Oily in 2017

Helping Others Eschew Oil How to Make Your Life Less Oily in 2017 thumbnail

Part I:  Taking Stock Part II: Squeezing Oil Out of Your Travel Part III: Wringing Oil from Your Beverages, Food, Stuff, and Heat Part IV: Helping Others Eschew Oil “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” – Buckminster Fuller So […]


Why Oil Forecasting Is So Difficult Now: Short-Cycle vs. Long-Cycle vs. “Peak Demand”

Consumption

Oil experts are deeply divided in their views on the future of what is still the world’s key commodity. This divergence was on display at last week’s CERA Conference in Houston, which brought together industry executives, consultants, media, and government officials from around the world. Although I didn’t attend in person, the organizers provided extensive […]


Peak oil? Sooner than you think

Consumption

EEnergyInformer For some time, there has been speculation about when global oil demand may peak – not because we will run out of oil or prices will spike making oil unaffordable, notions that are now considered passé – but because we won’t be needing as much of the stuff as we thought we would. And […]


BP Exec to Give Global Energy Forecast

Consumption

The United States could become energy self-sufficient in as few as six years, predicts multinational oil and gas company BP. Also by 2023, natural gas will replace oil as the most-used fuel in U.S. energy consumption. Global coal consumption will peak in the mid-2020s as China reins in its economic growth and uses cleaner, lower-carbon […]


Beijing, Saudi Arabia agree to more oil cooperation, exports to China

Beijing, Saudi Arabia agree to more oil cooperation, exports to China thumbnail

China and Saudi Arabia will increase their cooperation in the oil sector, including in Saudi oil exports to China, the two countries said in a joint communique issued on Saturday at the end of Saudi Arabian King Salman’s visit to Beijing. The world’s largest oil exporter has been looking to cement ties with the world’s […]


Researchers make discovery that could increase plant yield in wake of looming phosphate shortage

Consumption

UNC-Chapel Hill researchers make discovery that could increase plant yield in wake of looming phosphate shortage   Phosphate is vital for best crop yields, but global supply is limited and could peak in 30 years.   (Chapel Hill, N.C. – March 15, 2017) – Scientists at the University of North Carolina at Chapel Hill have […]


What Really Caused The EIA Oil Draw?

What Really Caused The EIA Oil Draw? thumbnail

Crude prices are rebounding today, bouncing off the trampoline of price support at $48 for WTI and $50 for Brent. A surprise draw to U.S. crude inventories (not to some) has been behind the rally (see more below), while the monthly IEA report followed in OPEC’s footsteps by showing higher Saudi production, and higher OECD […]


Diesel may not be running on fumes after all

Diesel may not be running on fumes after all thumbnail

From disdain to redemption to disgrace: Rudolf Diesel’s fuel-frugal invention has travelled a rocky road in North America. “Slow, noisy and dirty” was the public perception of diesel during its disdain phase decades ago. Redemption came with the advent of turbo-diesels – such as Volkswagen’s TDI that seduced open-minded buyers with its tsunami of quiet, […]


A Time of Seven Generations

Consumption

  I am going to put off publishing another chapter of How I Survived Collapse for another week to publish instead this compilation article from posts made Inside the Diner on the topic of developing self-sufficiency.  We had a lively discussion on this topic this week, and I would like to share it while it […]


Global population to use 71% more resources by 2050

Consumption

The global population is set to grow by 28 per cent and is predicted to use 71 per cent more resources per capita by 2050, says an international research centre. Without urgent steps to increase efficiency, the global use of metals, biomass, minerals such as sand, and other materials, will increase from 85 to 186 […]


IEA Says Oil Market Could Tilt Into Deficit In 1H If OPEC Sticks To Cuts

IEA Says Oil Market Could Tilt Into Deficit In 1H If OPEC Sticks To Cuts thumbnail

Global oil inventories rose for the first time in January as the market grappled with a swell in production last year, but if OPEC maintains its output cuts, demand should overtake supply in the first half of this year, the International Energy Agency said on Wednesday. The IEA’s monthly report struck a more bullish note […]


Saudi Aramco to resume oil product shipments to Egypt soon

Saudi Aramco to resume oil product shipments to Egypt soon thumbnail

Saudi Arabian state oil company Aramco will resume oil product shipments to Egypt some six months after suddenly halting them, the Egyptian Petroleum Ministry said on Wednesday. The ministry said in a statement it was working out a timetable with Aramco for the resumption of shipments and that commercial reasons related to global oil prices […]


Big energy fears peak oil demand is looming

Big energy fears peak oil demand is looming thumbnail

In an attempt to improve the quality of Beijing’s polluted air, the authorities are planning to mandate that every new taxi in the city must be electric or gas-fuelled, China’s National Business Daily reported last month. Beijing’s taxi drivers are no fans of the electric cabs in use there since 2014, complaining about inadequate battery […]


Asia Recovers Its Appetite for Oil

Asia Recovers Its Appetite for Oil thumbnail

Forget oil’s drop below $50 a barrel and rising U.S. stockpiles. Emerging Asia, home to more than half the world’s population and 40 percent of forecast economic growth through 2020, is showing signs of recovering its appetite for crude. Oil exporters’ love for the region has long been unrequited. Saudi Arabia and Russia have been fighting […]


Why EROEI matters: the role of net energy in the survival of civilization

Why EROEI matters: the role of net energy in the survival of civilization thumbnail

  The image above was shown by Charlie Hall in a recent presentation that he gave in Princeton. It seems logic that the more net energy is available for a civilization, the more that civilization can do, say, build cathedrals, create art, explore space, and more. But what’s needed, exactly, for a civilization to exist? […]


Saudi Arabia Won’t Let Oil Head Back To $20s Again

Saudi Arabia Won’t Let Oil Head Back To $20s Again thumbnail

Saudi Arabia and American frackers are gearing up for the second oil war. It will take oil lower, but not back to $20 again. Saudi Arabia has kept its promise. It has cut oil output by 486,000 barrels a day, in line with the OPEC agreement the Kingdom pulled together last October, helping oil stabilize above […]


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