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Why $50 is more likely to be a ceiling than a floor for the oil price


OPEC’s production cut agreement is not yet succeeding in driving down supply, suggesting that $50 per barrel oil may turn out to be a market top, industry experts told CNBC on Thursday. The predictions follow Wednesday’s slump in oil prices when the benchmark WTI and Brent indices both tumbled over 5 percent to close the […]

High-rises could be hit hard by blackouts

High-rises could be hit hard by blackouts thumbnail

APARTMENT prices could drop over the threat of more frequent blackouts, which can cause chaos among residents stuck in lifts and without airconditioning. Power outages can create headaches for apartment dwellers who are left without access to lifts, or stuck inside them, when the lights go out. It’s a problem that could start to impact […]

Falih Says Peak Oil Demand Talk Misguided

Falih Says Peak Oil Demand Talk Misguided thumbnail

Assumptions about stranded oil seen as discouraging investment IEA chief says growth may be slowing, but agrees no peak near Saudi Arabia’s top oil official dismissed the notion that global demand may soon peak and leave billions of barrels of untapped crude stranded in fields that will never be drilled. Khalid Al-Falih, energy minister for […]

IEA: Huge Oil Price Spike Inevitable


Three years of drastic cuts to upstream spending because of the meltdown in oil prices could result in a shortage of oil supply in a few years, according to a new report from the International Energy Agency. When oil prices collapsed in 2014, oil producers quickly took an ax to their spending. Global oil and […]

Oil Tanks To $51 Handle – One-Month Lows

Oil Tanks To $51 Handle – One-Month Lows thumbnail

It seems ever-exuberant energy traders are finally waking up to the reality that the global rebalance is not happening. A record glut of crude and surging production has sent WTI back to a $51 handle this morning (one-month lows) and has weighed on gasoline prices… WTI has broken below its 100-day moving average as the […]

Food demand predictions could be inaccurate

Food demand predictions could be inaccurate thumbnail

The widely held view that food production needs to double by 2050 to feed a growing world population may be inaccurate. In a study published in the journal Bioscience, researchers from Penn State’s agriculture college have challenged that view, saying the required increase may be as high as 70 per cent — or as low […]

IEA warns of potential shortage of global oil supplies in 3 years


The recent drop in oil industry investment brought on by weak prices threatens to significantly slow supply growth in the long term, and could lead to a shortage when it comes to meeting global demand, the International Energy Agency said in its five-year oil market forecast released Monday. That may happen even as crude stockpiles […]



Discuss this article at the Energy Table inside the Diner I ran across a chart on Bloomberg which is perhaps the best demonstration to date that the Oil Economy is in Full On Collapse mode now.  The chart is of Oil Inventory in storage, and covers the last 35 years since 1982 of Oil Inventory […]

Peak oil? Not any time soon

Peak oil? Not any time soon thumbnail

We’ve heard for decades that there is a phenomenon known as peak oil. The Green taliban all want us to change our ways because apparently oil is going to run out soon. That argument wasn’t really gaining traction so along came climate change to scare us into using alternative fuel sources. However, peak oil is […]

Rethinking economic progress, and how far we have yet to go


Today, the world’s population is, on average, about 20 times richer than it was during the long Agrarian Age. Between 7000 BC and 1500 BC, resources were scarce, technological progress was slow, and Malthusian pressures kept almost all human populations at a near-subsistence level, with per capita daily income of less than $1.50 in today’s […]

Electric Car Threat To Oil Is Wildly Overstated


Summary At the outset of the 2014 oil collapse, slacking oil demand growth was often cited as a major contributor to the sharp decline in oil prices. The global economy, reshaped by the information technology revolution, has generally become less fuel intensive. One of the most powerful arguments against sustained oil demand growth is the […]

Doomsday Scenario: A World Without Oil


Suppose the rapture happened. Not the kind followed by the Second Coming of Jesus as promised by Paul, but a rapture of oil. Imagine that one night, just after the last parents finish tucking in their toddler after falling into a post-ice cream coma, that … poof! All of the world’s oil in untapped reserves […]

Have we reached ‘peak stuff’?

Have we reached ‘peak stuff’? thumbnail

A disapproval of excess and excessive behaviour has been around since classical times. The ancients knew that too much of anything wasn’t good for us. You cannot live your life with the dial permanently turned up to eleven. The Greek goddess Sophrosyne embodied the spirit of moderation, temperance and restraint, and those who ignored her […]

BP Says Peak Oil Demand May Occur Post-2050, Plans to Increase Production


In the wake of the expected growth trends set out by its energy outlook, BP plc revealed in its latest strategy update that it anticipates production to increase by an average of 5 percent per year from 2016 to 2021. BP Group production, which includes BP’s share of production from Rosneft, is expected to be […]

6 Things That Will Happen If Our Power Grid Goes Down


Imagine if you will, what would happen if you pulled an American family from the 19th century, and plopped them in the middle of downtown Los Angeles during rush hour. They’re not given a warning, they’re not given any kind of primer on what they’re about to experience, and the occurrence is completely inexplicable. How […]

Should $20 A Barrel Be The Real Price Of Oil?


Summary Since the low in January of 2016, oil prices have rebounded to a recent price around $54. Investor bullishness was driven by the belief in peak oil theory, the slow transition to electric and hybrid engines, and the use of the commodity oil as an investment in the China boom. What does history say […]

Putting It All Together…

Putting It All Together… thumbnail

Some simple themes today… Population growth, economic growth, and resultant energy consumption are inexorably slowing.  The Federal Reserve knows it can not stop this and is simply slowing the inevitable with interest rate cuts to incent greater consumption via skyrocketing credit/debt (particularly government debt….debt that is undertaken with no intent of ever repaying it and is really just pure monetization). The chart […]

Initiating a Global Citizens Movement for the Great Transition

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Journey to Earthland is a recently released book by the Great Transition Initiative (GTI), a worldwide network of activist scholars with a unique purpose—to advance “a vision and praxis for global transformation”. Few civil society organisations have such a broad focus on transformational strategies towards a new global social-ecological system, as condensed and overviewed in […]

The Dutch Love Affair With Natural Gas: A Cautionary Tale


The story sounds familiar. For decades oil and natural gas drilling have been proceeding and creating prosperity for those involved. At some point significant earthquakes occur in areas where they were formerly very rare or nonexistent. Those quakes are linked to oil and gas drilling and production. The industry denies the link. The quakes continue, […]

Who’s Behind US Downward-Mobility?

Who’s Behind US Downward-Mobility? thumbnail

President Trump blames Mexicans, Chinese and other foreigners for the plight of downwardly mobile Americans but the real culprits are his corporatist pals who grab the lion’s share of the wealth from U.S. global dominance, says JP Sottile. By JP Sottile Donald Trump kicked-off his presidency with the bold accusation that the “wealth of our […]

Why Oil Demand Forecasts Have Become A Guessing Game

Why Oil Demand Forecasts Have Become A Guessing Game thumbnail

Get yourself a ruler, a pencil and a piece of paper. Place the ruler at about 45 degrees and draw a line upward across the page. That’s what a chart of world oil consumption looks like over the past 30 years, give or take a few shakes off the line (Figure 1). That was easy. […]

On the Thermodynamic Model of Oil Extraction by the Hill’s Group


SK is a professor emeritus in the department of Mechanical and Aeronautical Engineering at a Major University in the USA. Corrections to the first and third equations were made on Feb 25, 2017. The report reviewed here claims to rely on thermodynamics arguments to predict oil’s price-volume trajectory going forward. Classical Thermodynamic analysis First a few […]

Peak Oil. The Energy Report


Oil is rising on peak oil concerns. OK, not the old failed ideology of “peak oil” but the fact that U.S. oil supply in the U.S. may have peaked as well as Exxon Mobil’s proven reserve. The American Petroleum Institute (API) in their weekly report said we had the first crude oil drawdown of the […]

The US is transitioning into a natural gas exporter

The US is transitioning into a natural gas exporter thumbnail

The United States is on track to become a net exporter of gas next year, driven largely by the growth of liquefied natural gas exports, according to the U.S. Energy Department. The U.S. started exporting LNG last year, courtesy of Houston-based Cheniere Energy, and the country is increasingly piping more natural gas to Mexico while, […]

Oil To $70? Or Down To $30?


Will oil prices rise to $70 per barrel this year or fall to $30? Depends on who you ask. Oil price forecasts are always all over the map, but the exceptional disparity between some projections for 2017 is pretty stunning. On the one hand, you have Citibank, which sees oil shooting up to $70 this […]

How the “Peak Oil” Story Crashed with its Price


In mid-2000, the world feared it was running out of oil. Speculators, in turn, became feverishly bullish on oil’s price. A 78% crash soon followed. Today, almost no one talks about “Peak Oil.”

Peak Oil? A Chaotic Transition is in Process

Peak Oil? A Chaotic Transition is in Process thumbnail

As the graphic shows, US gasoline inventories are at a 27-year record high. And yet, gas prices and oil prices continue to rise – having increased by about 30-40% (depending on the grade and source) in 2016. And as the second graphic shows, US gasoline consumption in the first part of 2017 is down 8% […]

UN Report Says Small-Scale Organic Farming Only Way to Feed the World

UN Report Says Small-Scale Organic Farming Only Way to Feed the World thumbnail

Even as the United States government continues to push for the use of more chemically-intensive and corporate-dominated farming methods such as GMOs and monoculture-based crops, the United Nations is once against sounding the alarm about the urgent need to return to (and develop) a more sustainable, natural and organic system. That was the key point […]

Iran to sign oil contract to sell Russia 100,000 bpd


Iran announced on Tuesday it will begin selling 100,000 barrels of oil a day to Russia within the next 15 days and receive payment half in cash and half in goods and services, the Iranian Students’ News Agency (ISNA) reported. Iranian Oil Minister Bijan Namdar Zanganeh provided details about the deal after meeting Russian energy […]

The Cities of the Future Are Smart, Green, Connected Innovation Hubs

The Cities of the Future Are Smart, Green, Connected Innovation Hubs thumbnail

Humanity has come a long way since the very first cities began to emerge about ten thousand years ago. Today, places like New York, Tokyo and Dubai are centers of innovation and human progress. Urban projects globally are pushing the limits of engineering, design and architecture. Exponential technologies are being integrated into the very skeleton […]

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