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News from April 2018

Netanyahu: Iran Nuclear Deal Is Based on Lies – Here’s the Proof

Netanyahu: Iran Nuclear Deal Is Based on Lies – Here’s the Proof thumbnail

‘Iran did not come clean on its nuclear program,’ Netanyahu says, saying more than 100,000 Iranian documents Israel obtained prove nuclear ‘deal is based on lies’ ■ Speech comes on heels of strike against two bases in Syria and ahead of Trump’s decision on nuclear deal Noa Landau    ZenIsraeli Prime minister Benjamin Netanyahu speaks […]


Can India Break Its Oil Addiction?

Can India Break Its Oil Addiction? thumbnail

India is one of the world’s largest oil consumers, accounting for around 4 percent of global consumption. Only the U.S. and China outrank India in this regard, making it a key player in the oil market. While India’s oil consumption has seen remarkable growth in the past few years, the recent rise in oil prices […]


Hackers Hit ‘Cyber Blind Spot’ While US Energy Industry Naps

Hackers Hit ‘Cyber Blind Spot’ While US Energy Industry Naps thumbnail

How much is cyber security worth to the U.S. energy industry? Not a whole lot apparently. Two prominent security consultant firms estimate that energy companies, ranging from drillers to pipeline operators to utilities, invest less than 0.2 percent of their revenue in cyber security. For context, that’s at least a third less than the corresponding […]


Kunstler: That Collapse You Ordered…?

Kunstler: That Collapse You Ordered…? thumbnail

I had a fellow on my latest podcast, released Sunday, who insists that the world population will crash 90-plus percent from the current 7.6 billion to 600 million by the end of this century. Jack Alpert heads an outfit called the Stanford Knowledge Integration Lab (SKIL) which he started at Stanford University in 1978 and now runs […]


Is Thanos Right?

Is Thanos Right? thumbnail

After an 18 film wait, with Avengers: Infinity War, we finally got to see what made Thanos get out of bed in the morning. In the film, he reveals to Gamora what troubled him: that the universe has a finite amount of resources, and it can’t sustain the population it currently has. In his view, […]


$300 oil is ‘not impossible’ within a few years

$300 oil is ‘not impossible’ within a few years thumbnail

Leading oil hedge fund manager, Pierre Andurand, said that $300 per barrel oil is “not impossible” within the next few years. Lack of investment in new production due to low oil prices and fears of electric vehicle peak demand could create higher crude prices, Andurand said in a tweet on Sunday. “So paradoxically these peak […]


Jack Albert on Unwinding the Human Predicament

Jack Albert on Unwinding the Human Predicament thumbnail

Jack Alpert is director of Stanford Knowledge Integration Lab, a Lab which he started in 1978 at Stanford University. In 1992 the Lab left Stanford and became a non profit research foundation. The research focused on how people gather and process information to understand dynamic systems. Over the years the Lab has transitioned its focus […]


China’s Oil Futures Are Gaining Momentum

China’s Oil Futures Are Gaining Momentum thumbnail

China’s new oil futures contract is gaining some momentum as a fixture on the global oil market, although hurdles remain before it can become a key benchmark for Asia. China launched its yuan-denominated oil benchmark in March to much fanfare, after years of planning and delays. The logic of starting up an oil futures contract […]


This Could Be The Real Reason North Korea Halted Nuclear Testing And It’s Terrifying

This Could Be The Real Reason North Korea Halted Nuclear Testing And It’s Terrifying thumbnail

The mountain above North Korea’s main nuclear test site Punggye-ri has likely collapsed following a nuclear test last fall, sparking concerns about radioactive fallout and environmental catastrophes, according to geologists at the University of Science and Technology of China. It comes less than a week after North Korea’s leader Kim Jong-un announced the reclusive nation would […]


‘We’re doomed’: Mayer Hillman on the climate reality no one else will dare mention

‘We’re doomed’: Mayer Hillman on the climate reality no one else will dare mention thumbnail

“We’re doomed,” says Mayer Hillman with such a beaming smile that it takes a moment for the words to sink in. “The outcome is death, and it’s the end of most life on the planet because we’re so dependent on the burning of fossil fuels. There are no means of reversing the process which is […]


Big Oil Firms Hold Back on Drilling

Big Oil Firms Hold Back on Drilling thumbnail

The world’s biggest oil companies are awash in cash, thanks to rising crude prices. But few, if any, are going on spending sprees, even as the prospect of a global oil shortage looms. Western energy giants including Exxon Mobil Corp. XOM -3.80% , Chevron Corp. CVX 1.93% and Royal Dutch Shell RDS.B -0.39% PLC just […]


Big Oil raking in billions

Big Oil raking in billions thumbnail

Big Oil is back to doing what it does best: raking in billions of dollars in profit. The world’s largest oil companies this week posted some of their best earnings in years as they control costs and ride rising oil prices that are nearing $70 a barrel. Chevron on Friday said its first quarter profit […]


Oil Boom Is Starting To Run Into Limits To Growth

Oil Boom Is Starting To Run Into Limits To Growth thumbnail

Sections of pipeline lie on the ground near an oil drill rig in the Permian Basin near Pyote, Texas, U.S., on Friday, March 2, 2018. Chevron, the world’s third-largest publicly traded oil producer, is spending $3.3 billion this year in the Permian and an additional $1 billion in other shale basins. Photographer: Daniel Acker/Bloomberg Some […]


Saudi Arabia downs Yemeni rebel missile

Saudi Arabia downs Yemeni rebel missile thumbnail

A scene from a video issued by Yemen’s Huthi rebels on March 27, 2018 shows what appears to be Huthi military forces launching a ballistic missile on March 25 from the capital Sanaa (AFP Photo/-) Riyadh (AFP) – Saudi Arabia said its air defences on Friday intercepted a missile fired by Yemeni rebels, days after […]


The human cost of fossil fuels

The human cost of fossil fuels thumbnail

We should account for the costs of disease and death from fossil fuel pollution in climate change policies Buildings and houses are covered with a thick haze in Seoul, South Korea in February 2014. Photograph: Ahn Young-joon/AP While the climate policy world is littered with numbers, three of them have dominated recent discourse: 2, 1000, […]


Will Higher Oil Prices Boost The Global Economy

Will Higher Oil Prices Boost The Global Economy thumbnail

The recent oil price rally is sure to boost petrodollar inflows into the government coffers and sovereign wealth funds of oil producing nations. A part of those petrodollars could flow back into the global markets if oil producing countries boost investments in various asset classes, according to some large investment banks. These potential new petrodollar […]


Goldman: Oil Demand Will Continue To Soar

Goldman: Oil Demand Will Continue To Soar thumbnail

Oil demand is growing, and production is falling. This is the message we have been receiving for a few weeks now with increasingly frequency, especially after OPEC’s leader Saudi Arabia admitted it would like oil prices even higher than US$70. Like a genie from a lamp, the market immediately obliged with traders rushing in to […]


Noam Chomsky On Trump And The Future Of US Politics

Noam Chomsky On Trump And The Future Of US Politics thumbnail

Just how bad are things with Donald Trump in the White House? And what does having a racist, misogynist, xenophobic and erratic president who continues to enjoy unquestionable support from his base tell us about the state of US politics and the dangers to the future of democracy in the US and in the world […]


Electric Vehicles Begin To Bite Into Oil Demand

Electric Vehicles Begin To Bite Into Oil Demand thumbnail

Employees work on the assembly line of the electric bus at a BYD’s production base on January 23, 2018 in Xi’an, China. China’s largest electric carmaker BYD sold 113,669 new energy vehicles in 2017, up 13.4 percent year-on-year. (Photo by VCG/Getty Images) Projections have suggested that the advent of electric vehicles will have a dramatic […]


Russia still China’s top oil supplier

Russia still China’s top oil supplier thumbnail

Russia was China’s largest crude oil supplier in March, data showed on Tuesday, retaining the lead spot for a 13th consecutive month. Last month, Russia supplied 5.79 million tons, equal to 1.36 million barrels per day (bpd), up 23.6 percent from the same month a year earlier, data from the General Administration of Customs showed. […]


Crude Surges to Three-Year High as Saudi-Yemen Conflict Heats Up

Crude Surges to Three-Year High as Saudi-Yemen Conflict Heats Up thumbnail

Crude surged as strife in the Mideast region that’s home to almost half the world’s oil worsened. Futures in New York settled at their highest since December 2014, erasing earlier losses and nearing $69 a barrel, after Iranian-backed Houthis in Yemen launched unsuccessful missile attacks against Saudi Arabia, while kingdom-led forces killed a senior leader […]


Blessing of fossil fuels

Blessing of fossil fuels thumbnail

Earth Day turns 48 this year and thousands of activists will “recycle” their calls for greater government control over energy resources and infrastructure. Is that a cause we should support or oppose? The question is important because abundant, affordable and reliable energy is vital to human flourishing, and government regulations put this resource at risk. […]


The One Man Who Could Send Oil To $100

The One Man Who Could Send Oil To $100 thumbnail

The future of North Africa’s leading oil and gas producer Libya is once again under threat. International media reports that Libya’s strongman General Khalifa Haftar, leader of the LNA, the largest and strongest military power in the country, has had a stroke. Libyan and Arab news sites stumble over each other predicting the death or […]


Kunstler: Stop and Assess

Kunstler: Stop and Assess thumbnail

America has become Alzheimer Nation. Nothing is remembered for more than a few minutes. The news media, which used to function as a sort of collective brain, is a memory hole that events are shoved down and extinguished in. An attack in Syria, you ask? What was that about? Facebook stole your…what? Four lives snuffed […]


Down In Saudi Amnesia, They’re Partying Like It’s 2008

Down In Saudi Amnesia, They’re Partying Like It’s 2008 thumbnail

Is this really 2018? It started to sound a lot like 2008 in Saudi Arabia on Friday, as the kingdom’s oil minister argued that the world could tolerate a higher crude price. “I haven’t seen any impact on demand with current prices,” Khalid Al-Falih told reporters at the meeting of OPEC and non-OPEC producers in […]


Has the World Reached Peak Ecological Footprint?

Has the World Reached Peak Ecological Footprint? thumbnail

Humanity’s ecological footprint may have leveled off after decades of consistent increase, according to new data released last week by the Global Footprint Network. Mathis Wackernagel, founder and CEO of Global Footprint Network, speaking in an interview with me from Oxford University just before the launch, said, “We may have reached peak eco-footprint, after years of […]


One planet, one child

One planet, one child thumbnail

Mother Nature does not argue — and she does not negotiate. Our “home” is heating up and human activity is increasingly exacerbating many other problems. These problems cannot be solved with the same thinking we used when we created them. —Albert Einstein We must reduce global population. Information provided by World Population Balance states that […]


The global village and the surveillance society

The global village and the surveillance society thumbnail

Media savant Marshall McLuhan coined the term “global village” in 1962 in his book The Gutenberg Galaxy. Today, we take the concept of an electronically connected global population with instant access to practically every plugged-in person on the planet as a fact of life. We often see our global village as a force for good, […]


Market to absorb higher oil prices, says Saudi Arabia

Market to absorb higher oil prices, says Saudi Arabia thumbnail

The global market has the capacity to absorb higher oil prices, Minister of Energy, Industry and Mineral Resources Khaled Al-Faleh has said. Faleh’s statement at a meeting of oil producers in Jeddah on Friday came as crude hit the highest level in more than three years. The statement drew a swift reaction from US President […]


Iran switches from dollar to euro

Iran switches from dollar to euro thumbnail

Iran’s feud with the US is set to get worse after Tehran announced yesterday that it will start reporting foreign currency amounts in euros rather than US dollars, as part of the country’s effort to reduce its reliance on the American currency due to political tension with Washington. Central bank governor Valiollah Seif said last […]


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"it was like nothing we have ever seen" Unfortunately, if only they checked the #naturalgas storage reports, and understood the Permian basin isn't as good as hyped. Disregard for #geology #engineering has consequences, in this case about $80 million burnt in two days #peakoil twitter.com/GunjanJS/statu…

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