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Chris Martenson: The Great Oil Swindle

Chris Martenson: The Great Oil Swindle thumbnail

When it comes to the story we’re being told about America’s rosy oil prospects, we’re being swindled. At its core, the swindle is this: The shale industry’s oil production forecasts are vastly overstated. Swindle:  Noun  – A fraudulent scheme or action. And the swindle is not just affecting the US.  It’s badly distorted everything from current […]


Fracking drives US oil exports to record high

Consumption

The world’s largest oil consumer exported more hydrocarbons than ever before in 2017 and shows no signs of slowing down. You name it – crude oil, gasoline, diesel, propane and even liquefied natural gas – all were shipped abroad by the US at a record pace. While the surge comes many years after the shale […]


EIA Bashers Should Check Their Own Numbers

Consumption

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

Consumption

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

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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 […]


The Biggest Bubble Ever, In Three Charts

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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 […]


Synergies Between Nuclear Energy and Coal

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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 […]


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

Consumption

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 […]


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 […]


The Seneca Cliff Explained as a Network Phenomenon: a Three Dimensional Collapse Overview Model

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A Three Dimensional Collapse Overview Model In this post, Geoffrey Chia illustrates one of the fundamental characteristics of the “Seneca Effect”, also known as “collapse,” the fact that it occurs in networked systems dominated by feedback interactions. This is a qualitative interpretation of collapse that complements the more quantitative models that I report in my […]


Ugo Bardi: A Religion Called Economy

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  Published also in Italian in “Effetto Cassandra”  A post by Michele Migliorino The idea that religions are giving way to a more advanced human level of existence is part of common knowledge. Science and technology are emancipating humankind from mythical and religious discourses under the effect of the belief that only rationality should guide […]


Peak oil and the Aramco/SABIC petrochemical project

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THERE is an important connection between this week’s announcement by Saudi Aramco and SABIC of an MoU for a direct oil-to-chemicals complex and the Tesla Semi electric truck, which is being trialled by DHL and other logistics companies. To fully understand this link, let’s first consider the wider context behind the Tesla truck story. This story […]


You’re Just Not Prepared For What’s Coming

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I hate to break it to you, but chances are you’re just not prepared for what’s coming. Not even close.  Don’t take it personally. I’m simply playing the odds. After spending more than a decade warning people all over the world about the futility of pursuing infinite exponential economic growth on a finite planet, I […]


Is Peak Oil dead? Not by a long shot! Remember Ladyfern?

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Preface. Oil is finite. Period. Don’t be fooled by news stories that peak oil is dead, or we have reached peak demand.  They’re all nonsense. Gail Tverberg at ourfiniteworld.com is especially good at explaining this. Worse yet, what we have left has been and is not being drained as quickly as possible to pay the […]


Today’s Poor Needs More Oil, Natural Gas, And Coal

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Simply put, the world has no greater problem than energy deprivation and poverty. They shorten human lives by decades. I’m going to use this post to put some horrifically sad numbers to you because ending poverty today is our most critical global goal. I’ve written peer-reviewed journal articles on this stuff and have come to realize […]


Car sales will peak in 2022 as robotaxis take off

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Canalys forecasts 93.7 million cars will be sold worldwide in 2017, up just 1.7% on 2016. Low single-digit percentage sales volume growth will continue for the next five years, peaking at 99 million cars sold in 2022. Annual global sales will then decline as the urban mobility revolution, already affecting the market, gathers pace. “The […]


Russia warns global gas oversupply could trigger price ‘crisis’

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Global gas supplies currently exceed demand, a situation that could lead to a “crisis” drop in prices similar to what occurred in the crude oil market, Russian energy minister Alexander Novak said on Friday. “The current excess supply of natural gas brings risks… of entering into the same crisis that affected oil prices,” Novak said […]


Finnish bakery chain to start selling ‘insect bread’

Finnish bakery chain to start selling ‘insect bread’ thumbnail

A bakery in Finland has claimed it will be the first in the world to offer ‘insect bread’ in grocery stores. From tomorrow, almost a dozen Fazer Bakery outlets in the country will offer a product called Fazer Cricket Bread. The product is made with crickets, with the insects dried and ground before being added […]


Will oil touch $100 a barrel again?

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This seems unlikely, both in the short and long term, and in the context of new energy sources. But there’s always politics It took the better part of a year but the production cut effected by the 14-member cartel, Organisation of Petroleum Exporting Countries (OPEC), in January is beginning to show results. Prices of the […]


Why Are Rich People So Anxious?

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“The psychology of wealth is knotty,” writes Kerry Hannon in the New York Times. “On the surface, being wealthy can make people believe they have more control over their lives, but it can also control them emotionally.” Hannon’s article, headlined “I’m Rich, and That Makes Me Anxious,” will probably elicit eye rolls from those of […]


Was 2017 The Year Of Peak Oil Demand?

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From Gregory Brew: It’s possible that 2017 may go down as the year when the concept of peak oil demand went from speculation to potential reality, as companies and energy analysts began estimating when demand growth for oil would begin to taper off. The debate over whether peak demand is coming has been fierce, but it’s possible that the […]


Oil: The price is not right

Consumption

The market wants to trade a demand slow-down of the future, while ignoring the fundamentals of the present Until recently, 100m barrels a day of global oil-product demand seemed a distant prospect. In its World Energy Outlook , published in November 2016, the International Energy Agency‘s (IEA) central scenario didn’t think consumers would reach this landmark […]


The Soft Belly of The Oil Industry: the Upcoming Seneca Collapse

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  Ugo Bardi explains his idea of an impending “Seneca Collapse” of the world’s oil industry at the session on climate change of the meeting of the Club of Rome in Vienna, on 10 Nov 2017. What follows are not the exact words said, but it maintains the gist of this brief comment that was […]


Tesla Truck Could Threaten Big Chunk of Oil Demand

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Tesla Inc.’s unveiling on Thursday of a new electric truck showed Elon Musk can match Steve Jobs’s ability to wow the tech crowd with a glimpse of the future. If he can equal the manufacturing prowess of Apple Inc.’s current Chief Executive Officer Tim Cook, he might just clobber the oil industry too. That’s a […]


When Will Oil Demand Begin To Taper Off?

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It’s possible that 2017 may go down as the year when the concept of peak oil demand went from speculation to potential reality, as companies and energy analysts began estimating when demand growth for oil would begin to taper off. The debate over whether peak demand is coming has been fierce, but it’s possible that […]


China Oil Demand to Peak in 2040

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Oil demand from China’s transportation sector will peak in 2030 and flatten thereafter, mainly due to falling gasoline demand for passenger vehicles that become more efficient and increasingly electricity-driven, the International Energy Agency said in its latest World Energy Outlook report on Tuesday. The flattening of China’s oil demand growth reflects its fundamental change from […]


Is U.S. Energy Independence In Sight?

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The International Energy Agency made headlines Monday when it declared in its World Energy Outlook 2017 that the U.S. could be a net exporter of oil within a decade. The IEA also projected that the U.S. is set to become the world’s dominant oil and gas production leader for decades. Is that a realistic assessment? […]


Growth in Electric Vehicles Won’t Dent Oil Demand Much

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Amid an anticipated increase in electric vehicles during the next 20 years, the world’s appetite for oil is still expected to wane just a bit, as demand for transportation including petrochemicals continues, the International Energy Agency said Tuesday. An estimated 50 million vehicles will be in operation by 2025 and 300 million by 2040, versus […]


6 Factors Will Hasten Or Defer Peak Oil Demand

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  We haven’t reached peak oil consumption globally, also known as peak demand. We are likely to reach it globally by 2050, but it’s unlikely to occur before 2030 at the very earliest. There are six major factors which make defining exactly when it will occur very difficult. I haven’t seen any modelled analysis (including […]


DIY Disaster Relief

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In areas where people have been abandoned by state and NGO relief efforts, decentralized networks of volunteers have popped up to coordinate food and supply distribution, arrange for temporary housing and help communities rebuild local infrastructure. Watch the full documentary for free – https://sub.media/video/trouble-7-no-…


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