Oil at $40 Possible as Market Transforms Caracas to Iran

Oil’s decline is proving to be the worst since the collapse of the financial system in 2008 and threatening to have the same global impact of falling prices three decades ago that led to the Mexican debt crisis and the end of the Soviet Union. Russia, the world’s largest producer, can no longer rely on […]

Eight States Where Gas Will Drop Below $2

Experts have already begun to mention the chance that the average price for a gallon of regular gas will drop below $2 in some parts of America. There are several states where this is highly likely. As a matter of fact, the prices in these states could drop below $2 as early are the start […]

Crude Oil Does The Limbo: How Low Can It Go?

The commodity market for crude oil may have been the one of the two most exciting financial markets around the world during 2014’s first 11 months. Crude’s price per barrel rose to a high of $107.95 June 20, according to Federal Reserve Economic Data, or FRED. And oil’s price per barrel fell to a low […]

Cheap Oil A Boon For The Economy? Think Again

I thought it might be a nice idea to question a certain someone’s theories using their own words, while at the same time showing everybody what the dangers are from falling oil prices. There are many ‘experts and ‘analysts’ out there claiming that economies will experience a stimulus from the low prices, something I’ve already […]

Peak Oil: does the CIA know?

Years ago, at an international conference on peak oil, I met Michael Ruppert, who later became known for his investigations of the 9/11 attacks. He told me that in the audience, that day, there were a few CIA agents whom he personally knew. I had no way to check Ruppert’s statement, but, on the whole, […]

Visualizing Peak Popopulation

Even with having existed for millions of years, the process for humans to reach 1 billion in population was long and arduous. It is only about 12,000 years ago that humans started engaging in sedentary agriculture. This allowed humans to settle and consistently produce food, rather than hunt and gather throughout. However, it is with […]

Oil Prices Are Plunging. Here’s Who Wins and Who Loses.

While Americans were stuffing their faces with poultry Thursday, global oil markets were in chaos. And the implications are far-reaching. The price of oil was down more than 9.9 percent Friday afternoon after the Organization of the Petroleum Exporting Countries decided it would not cut back production significantly in the months ahead. In other words, […]

The world will be fine without us

My November book-of-the-month summary is Alan Weisman’s “The World Without Us,” in which he explores what the world will be like after humans. Within a few hundred years residential neighborhoods will return to forests.  The longest-lasting evidence of humans will be plastics, metals and radioactive waste. Future inhabitants will encounter such oddities as fire hydrants […]

Is OPEC A Toothless Tiger?

OPEC MET THIS WEEK and decided not to cut the oil production quotas of its members. Petroleum prices took a hit. But don’t be deceived. OPEC’s impact on prices is grossly exaggerated. Speculators believed OPEC would magically pull a rabbit out of the hat. But OPEC doesn’t even have a hat, much less a rabbit. […]

Kuwait urges cooperation from non-OPEC producers

Kuwait Oil Minister Ali Al-Omair urged non-OPEC crude producers to cooperate to help stabilize the oil market and prevent sharp fluctuations in prices, KUNA news agency said. The minister called on producers from outside OPEC to “cooperate with the Organization of Petroleum Exporting Countries to guarantee stability of the market and prevent major swings in […]

OPEC Presents: QE4 And Deflation

Thinking plummeting oil prices are good for the economy is a mistake. They instead, as I said only yesterday in The Price Of Oil Exposes The True State Of The Economy point out how bad the global economy is doing. QE has been able to inflate stock prices way beyond anything remotely looking fundamental, but energy prices […]

Why oil prices will bounce back … eventually

When an asset class takes a swan dive off the cliff, fortunes can be lost trying to call the bottom. It’s often impossible to tell whether the asset in question is on a suicide run or undergoing a short-term correction. And so it is with oil. Oil prices are down by a third since June […]

China Raises Tax on Oil Products

China said Friday that it will raise the consumption tax on a range of oil products in a move to promote conservation and boost the attractiveness of alternative energy. The move, announced by the finance ministry, was also aimed at reducing pollution–a problem that authorities have been struggling with as air quality levels plummet across […]

France Wants To Get Rid of Diesel Fuel

France wants to gradually phase out the use of diesel fuel for private passenger transport and will put in place a system to identify the most polluting vehicles, Prime Minister Manuel Valls said on Friday. Next year, the government will launch a car identification system that will rank vehicles by the amount of pollution they […]

The First Oil-Exporting Casualty Of The Crude Carnage: Venezuela

In the aftermath of OPEC’s failure to cut oil production, Russia has been acting surprisingly sanguine, perhaps as a result of less leverage in its system as compared to America’s own high yield-funded shale complex – now that it is a race to who will default first and be forced to take production offline – […]

OPEC Policy Ensures U.S. Shale Crash, Russian Tycoon Says

OPEC policy on crude production will ensure a crash in the U.S. shale industry, a Russian oil tycoon said. The Organization of Petroleum Exporting Countries kept output targets unchanged at a meeting in Vienna today even after this year’s slump in the oil price caused by surging supply from U.S shale fields. American producers risk […]

Oil: The Good, the Better, the Ugly

Oil prices have fallen a long way this year. They might fall much further still. Crude prices have fallen 36% since their summer peak, then sent into a tailspin by  the failure of OPEC, the cartel of oil producing countries accounting for 40% of global supply, to trim its output quotas. And history suggests prices […]

Big Oil Going Big In The Gulf Of Mexico

The oil industry is betting big on the Gulf of Mexico with both costs and production rising as a result. The Gulf has seen a bit of a resurgence in production this year, after declining from a peak in 2009. The oil industry extracted 1.7 million barrels per day on average in the summer of […]

Oil Price Drop After OPEC Decision Is ‘Terrible’

The plunge in crude prices after OPEC’s decision to keep its production ceiling unchanged is “terrible,” according to Iraq’s oil minister. Brent crude, the global benchmark, fell the most in more than three years after the 12-member group completed talks and traded at $72.50 a barrel in London today. That’s 29 percent less than the […]

Dynomak fusion details and summary of other nuclear fusion projects

Nextbigfuture had extensive coverage of the Dynomak over 6 weeks ago. Dynomak makes the claim that they will be cheaper than coal power. The Dynomak is priced out at about $2.7 billion for a 1 gigawatt nuclear reactor. Nuclear fission reactors in China are lower than that cost and China’s coal plants tend to be […]

Oil and Currency Markets Reflect Expectations for Lower Global Economic Growth

Source: U.S. Energy Information Administration, based on Bloomberg. Note: The U.S. dollar index measures the value of the U.S. dollar against a basket of six currencies’ exchange rates: the euro, Japanese yen, British pound, Canadian dollar, Swiss franc, and Swedish krona. An increase in the index means the dollar is appreciating against these currencies. March […]

World Population Will Soar Higher Than Predicted

Hana Ševčíková and Jen Christiansen; SOURCES: “WORLD POPULATION STABILIZATION UNLIKELY THIS CENTURY,” BY PATRICK GERLAND ET AL., IN SCIENCE EXPRESS. PUBLISHED ONLINE SEPTEMBER 18, 2014 (2014 projections); “THE END OF WORLD POPULATION GROWTH,” BY WOLFGANG LUTZ ET AL., IN NATURE, VOL. 412; AUGUST 2, 2001 (2001 projections) United Nations leaders have worried for decades about […]

Russia Says Will Keep Oil Output Steady In 2015

Russian oil companies will keep production steady in 2015, Energy Minister Alexander Novak said on Wednesday, after Moscow left a meeting with other major oil producers with no agreement on how to address weak oil prices. Russia, which is not an OPEC member, has watched nervously as oil prices have fallen 30 percent since June […]

Libya Producing 700000 B/D of Oil

Libya is currently producing 700,000 barrels a day of oil, a top energy official said Wednesday. The country’s current production, less than half of its normal level of about 1.5 million barrels a day, has been hit by frequent unrest and strikes. Speaking to reporters, Mohamed Oun, a deputy vice-prime minister for energy, also said […]

Kirkuk oil facilities damaged in IS battle

A pipeline to the Baiji refinery was ablaze amidst a barrage of artillery fired by militants of the so-called Islamic State (IS) as they battled coalition forces in contested areas southwest of Kirkuk. IS militants launched their attacks late Tuesday and into Wednesday, battling Kurdish Peshmerga forces and facing air strikes by coalition planes. In […]

Bottom for oil in 2015 is $35

Oil could plummet to $35 a barrel next year if OPEC doesn’t reach an agreement by the spring, oil price tracker Tom Kloza said Wednesday. The founder of Oil Price Information Services told CNBC’s “Squawk Box” that he expects at least a “lip service agreement” from OPEC members Thursday, when they meet to discuss output, […]

‘Big gaps’ remain in Iran nuclear talks

Top level diplomats of the US and Germany have said that there were still serious gaps in talks over Iran’s nuclear programme, despite signs of some progress two days before a deadline to reach a deal between Iran and major powers. Six major powers – the US, UK, France, Germany, Russia and China –  began […]

19 US Shale Areas That Are Suddenly Endangered, “The Shale Revolution Doesn’t Work At $80”

Despite the constant blather that lower oil prices are “unequivocally good” for America, we suspect companies working and people living these 19 Shale regions will have a different perspective…   Drilling for oil in 19 shale regions loses money at $75 a barrel, according to calculations by Bloomberg New Energy Finance. Those areas pumped about […]

Ocean Spiral designed to harness deep sea potential

An increasing world population means more strain on resources, and requires increasingly innovative solutions. Japanese firm Shimizu has come up with one such idea. Ocean Spiral is an underwater city that seeks to make use of the ocean’s rich resources. View all  Shimizu is no stranger to moonshot ideas. It has previously proposed a ring […]

Inside the Dynomak: A Fusion Technology Cheaper Than Coal

Modifying the most common type of experimental reactor might finally make fusion power feasible Fusion power has many compelling arguments in its favor. It doesn’t produce dangerous, long-term toxic waste, like nuclear fission. It’s far cleaner than coal, with a supply of fuel that’s virtually unlimited. And unlike with wind and solar, the output of […]

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LATEST NEWS HEADLINES

• Is It Time To Abandon the Idea of Phasing Out Oil and Gas?
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