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News from October 2012

India Wants Overseas Energy Firms to Invest

India Wants Overseas Energy Firms to Invest thumbnail

India’s new oil minister said Monday that his ministry will make efforts to attract investment from overseas energy companies and expedite domestic oil and gas exploration activity, at a time when major global energy companies have been reluctant to commit to projects in the country. “About $50 billion is waiting to be invested in this […]


Kunstler: Apocalyptoween

Kunstler: Apocalyptoween thumbnail

      With little to do while waiting for something possibly very bad to happen people tend to get jokey. That was how I felt about the election until Hurricane Sandy came along. For one thing, I happened to travel (by car – how else?) last week from Bennington through Brattleboro, Vermont, and down […]


Peak oil may already be here, and the knock on effect could range from bad to truly awful

Peak oil may already be here, and the knock on effect could range from bad to truly awful thumbnail

Tightening oil supply could have larger implications on the world economy, with a large shock scenario capable of knocking off a full percentage point in annual GDP in both the eurozone and the USA, according to an IMF study. A highly readable report by Michael Kumhof and Dirk Muir, Oil and the World Economy: Some Possible […]


Keeping Peak Oil Reality In Mind # 17: Reality

Keeping Peak Oil Reality In Mind # 17: Reality thumbnail

An observation worth noting … and pondering, from Leonard Pitts, Jr. The point here — this cannot be overemphasized — is not ideology. Rather, it is about the fact that we cannot effectively debate ideology if we do not have a body of facts in common. Under such circumstances, political discourse must devolve into incoherence. […]


Why the U.S. is NOT the new Saudi Arabia

Why the U.S. is NOT the new Saudi Arabia thumbnail

Last week’s energy news included a piece from the Associated Press with a headline reading: “U.S. poised to become world’s top oil producer; may soon overtake Saudi Arabia.” If the reporter had actually examined figures available from the U.S. Energy Information Administration (EIA) website carefully instead of simply parroting oil industry sycophants, he would have […]


Renewable Energy: The Vision And A Dose Of Reality

Renewable Energy: The Vision And A Dose Of Reality thumbnail

In recent years, there has been more and more talk of a transition to renewable energy on the grounds of climate change, and an increasing range of public policies designed to move in this direction. Not only do advocates envisage, and suggest to custodians of the public purse, a future of 100% renewable energy, but […]


Tech Talk – Global crude oil and Iran

Tech Talk – Global crude oil and Iran thumbnail

There has been a little stir in the news on Energy lately, as folks have begun to extrapolate the growth in American oil and gas production to the point that they predict that the United States may out-produce Saudi Arabia, in terms of the totality of hydrocarbon production. Of course, in some cases, it has […]


Fish Near Fukushima Still Contaminated

Fish Near Fukushima Still Contaminated thumbnail

Elevated levels of cesium found in fish off Japan’s east coast 18 months after the Fukushima nuclear disaster suggest a “continuing source” of radiation in the ocean, a new study has revealed. Marine chemist Ken Buesseler of the Woods Hole Oceanographic Institution reviewed official Japanese data on radiation levels in fish, shellfish and seaweed collected […]


Peak Oil; Schwartz Cal Poly Physics

Peak Oil; Schwartz Cal Poly Physics thumbnail

Table of Contents: 00:19 – 01:01 – 01:41 – 02:25 – 07:24 –


End of growth: How to achieve a truly sustainable future Featuring Jeff Rubin and David Suzuki

End of growth: How to achieve a truly sustainable future Featuring Jeff Rubin and David Suzuki thumbnail

From the Western University, Canada via YouTube: Consider today’s sociopolitical landscape and it’s likely you’ll note the environment and the economy don’t exactly go hand in hand. In reality, the two are inextricable and, increasingly, need to be treated as such, according to Jeff Rubin, the award-winning economist who, along with David Suzuki, wraps up […]


IMF study: Peak oil could do serious damage to the global economy

IMF study: Peak oil could do serious damage to the global economy thumbnail

The world isn’t going to run out of oil anytime soon. But there’s still concern among various geologists and analysts that our oil supply won’t grow as quickly or as easily as it used to. We’ll have to resort to harder-to-drill oil to satisfy our crude habits. More expensive oil. That would push prices up. And […]


Major natural gas find by Saudis. A shift ahead?

Major natural gas find by Saudis. A shift ahead? thumbnail

Saudi Arabia has announced that they made a major new find in natural gas in the Red Sea. The Saudis are already ranked 5th in the world for their reserves of natural gas, but they are only ranked 9th in terms of production of the commodity. They account for about 3 percent of world natural gas production. […]


Putin Is the New Global Shah of Oil

Putin Is the New Global Shah of Oil thumbnail

Exxon Mobil is no longer the world’s number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp – oh, whoops. I mean the title belongs to Rosneft, Russia’s state-controlled oil company. Rosneft is buying TNK-BP, which is a vertically integrated oil company co-owned by British oil firm BP and a group of […]


America’s (Un)Peak Oil

America’s (Un)Peak Oil thumbnail

News stories in recent days have touted America’s recent surge in oil production, positing the US could produce more oil than Saudi Arabiaby 2020. US oil production has indeed surged in recent years—to levels not seen since 1995. Because of falling US demand and the production surge, the US now imports just 40% of the […]


More than a Dozen Nuclear Plants Near Hurricane Sandy’s Path Brace for Impact

More than a Dozen Nuclear Plants Near Hurricane Sandy’s Path Brace for Impact thumbnail

Bloomberg reports: “Because of the size of [Hurricane Sandy], we could see an impact to coastal and inland plants,” Neil Sheehan, a spokesman based in Philadelphia for the U.S. Nuclear Regulatory Commission, said by phone today. “We will station inspectors at the sites if we know they could be directly impacted.” The NRC met earlier […]


Peak Oil, Peak PAP, Peak Singapore and the Golden Age

Peak Oil, Peak PAP, Peak Singapore and the Golden Age thumbnail

Peak oil is the point in time when the maximum rate of petroleum extraction is reached, after which the rate of production is expected to enter terminal decline. http://en.wikipedia.org/wiki/Peak_oil When we talk about the golden age of Singapore, we are also referring to a stage that we have reached the maximum of our growth and development.  […]


Natural Gas: The Tricky Craft Of Counting Drilling Rigs

Natural Gas: The Tricky Craft Of Counting Drilling Rigs thumbnail

The surprising breakdown of the relationship between natural gas production and gas-directed rig count, which has been manifest since the beginning of this year, remains one of the industry’s most intensely debated and still unresolved conundrums. The U.S. Lower 48 gas rig count has been on a steady, steep decline for twelve months in a […]


Statoil to Cut 2013 Oil and Gas Production

Statoil to Cut 2013 Oil and Gas Production thumbnail

Norwegian oil and gas firm Statoil ASA cut its 2013 output guidance due to a major divestment and low gas prices in the U.S., and also flagged a major fourth-quarter maintenance outage. Statoil, the biggest listed company in the Nordics with a market capitalization of $79-billion (U.S.), said its 2012 equity production would be around […]


Can natural gas live up to potential?

Can natural gas live up to potential? thumbnail

Editor’s note: Peggy Williams is editorial director of Hart Energy, an energy publisher that advises natural gas companies. The views expressed are her own. As nations seek alternative fuel sources in an effort to reduce petroleum use, the world is paying increasing attention to natural gas as an efficient option. Multi-stage fracturing and horizontal drilling […]


Deepwater Horizon Trial Rescheduled Due to Super Bowl, Mardi Gras

Deepwater Horizon Trial Rescheduled Due to Super Bowl, Mardi Gras thumbnail

The trial over liability for BP Plc (BP/)’s 2010 Gulf of Mexico oil spill was postponed to Feb. 25 so the lawyers won’t lose their accommodations to Super Bowl and Mardi Gras crowds, a New Orleans judge said. The Super Bowl, the National Football League’s title game, is set for Feb. 3, and the last […]


Robert Rapier: Can You Make Fuel from Air and Water?

Robert Rapier: Can You Make Fuel from Air and Water? thumbnail

n this week’s episode of R-Squared Energy TV, I address the recent claims of a U.K.-based company called Air Fuel Synthesis that they have invented a process to create fuel from air and water. Earlier in the week, I covered this issue in-depth for our subscriber-only newsletter, Energy Trends Insider, so be sure to get […]


US set to become “New Middle East” for discord and (hopefully) oil

US set to become “New Middle East” for discord and (hopefully) oil thumbnail

As it heads rapidly towards energy independence, the US has been dubbed “The New Middle East” by Energy Department officials, hoping desperately that it will be true. Slightly rising oil production, a lot of shuffling paper around to make “liquids” look like oil, and a new policy of fostering internal discord and violence will, hopefully, […]


Exxon Mobile Oil boss gunned down in Belgium

Exxon Mobile Oil boss gunned down in Belgium thumbnail

Mystery and some confusion today surrounded the murder of a senior British oil executive outside a restaurant near Brussels. Nicholas Mockford, 60, an executive dealing with clean fuels for the US oil giant Exxon Mobil, was shot three times before his wife on a street in a quiet suburban town north of Brussels on 14 […]


China’s natgas consumption seen at 230 bcm in 2015

China’s natgas consumption seen at 230 bcm in 2015 thumbnail

Natural gas consumption in China, the world’s top energy user, is expected to be 230 billion cubic meters (bcm) in 2015, while supply of gas, including imported liquefied natural gas (LNG) and unconventional gas, is expected to exceed 260 bcm, the National Development and Reform Commission said on Friday. The International Energy Agency (IEA) said […]


The new existentialism

The new existentialism thumbnail

“As this planetary crisis invades our individual lives, unavoidably, neither the personal nor the collective misconception of who we are will remain tenable” –Charles Eisenstein, from Ascent of Humanity The state of humanity is at a crossroads between a dying culture of civilization and a new way of living in the world — a way […]


Solar Energy Is Ready. The U.S. Isn’t

Solar Energy Is Ready. The U.S. Isn’t thumbnail

Clean energy has become a dirty word in presidential politics. In their second debate, Mitt Romney and Barack Obama each tried to outdo the other’s love of fossil fuels: Obama extolling his record on oil and natural gas production, Romney vowing to take “advantage of the oil and coal we have here.” The Republican candidate […]


Family planning, lower birth rate

Family planning, lower birth rate thumbnail

  Thomas Edward Malthus, an English scholar influential in political economy and demographics, lived from 1766 to 1834. In six editions of “An Essay on the Principle of Population,” his major theory was that population sooner or later would be decreased by famine, disease, and wars — “population does invariably increase when the means of […]


OPEC to Increase Shipments on Heating Demand

OPEC to Increase Shipments on Heating Demand thumbnail

PEC will boost crude shipments next month as winter demand for heating oil and diesel climbs in the Northern Hemisphere, according to Oil Movements. The Organization of Petroleum Exporting Countries will export 23.84 million barrels a day in the four weeks to Nov. 10, up 0.8 percent from 23.64 million a month earlier, the tanker- […]


An Economic Theory of Limited Oil Supply

An Economic Theory of Limited Oil Supply thumbnail

We seem to hear two versions of the story of limited oil supply: 1. The economists’ view, saying that the issue is a simple problem of supply and demand. Substitution, higher prices, demand destruction, greater efficiency, and increased production of oil at higher prices will save the day. 2. A version of Hubbert’s peak oil […]


Keeping Peak Oil Reality In Mind # 16: Not Enough

Keeping Peak Oil Reality In Mind # 16: Not Enough thumbnail

An observation worth noting … and pondering, from Chris Nelder. Declining availability and increasing competition for the remaining fossil fuels will make it progressively more difficult to manufacture, transport, and install renewables and efficiency improvements. Within 25 years, the world could lose 25 percent or more of its oil supply, and nearly all of its […]


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