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News from May 2018

Decarbonising Heavy Industry

Decarbonising Heavy Industry thumbnail

I was fortunate to attend part of the 9th Clean Energy Ministerial (CEM) meeting in Copenhagen and participate in a panel focussed on the steps required to decarbonise the industrial sector. It is good to see that the CEM is bringing much needed focus to this area, given that industrial emissions make up about a fifth of global […]


Turning Trees Into Enemies. The New War on Forests

Turning Trees Into Enemies. The New War on Forests thumbnail

The San Marco Square in Florence in 2017. You can see the ancient trees of the square being cut as part of a plan that involved the removal of several hundred trees in the whole city. The action was accompanied by a propaganda campaign against trees that looked curiously similar to that used to justify […]


What Makes $1 Billion a Year and Oils the Global Economy While Rebuilding Its Reputation?

What Makes $1 Billion a Year and Oils the Global Economy While Rebuilding Its Reputation? thumbnail

It’s a quiet scene, but there’s more to it than meets the eye. The Estia, a 751-foot-long oil tanker, is loading gasoline on a breezy afternoon at port in Vadinar, a town in northwest India. The Bahamas-flagged ship has journeyed from Singapore to this hulking dock on the Arabian Sea, where a relentless afternoon sun […]


Exxon Says the World Needs Even More Oil

Exxon Says the World Needs Even More Oil thumbnail

Exxon Mobil Corp’s Darren Woods says his company is at the center of a delicate balancing act between those who want a cleaner environment and those seeking economic growth that depends on rising energy demand. Exxon is planning to invest more than $200 billion in major oil and gas projects around the world over seven […]


It’s Getting Tough for Smaller Drillers

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Pipeline bottlenecks in the Permian Basin are hurting prices for cash-strapped producers Bob Watson said his company is in the process of selling its Eagle Ford land, which totals more than 14,000 acres, according to a March filing with the Securities and Exchange Commission. Watson spoke Tuesday at an Association for Corporate Growth Central Texas event […]


Oil market is ignoring the big Iran story

Oil market is ignoring the big Iran story thumbnail

Helima Croft, RBC Captial Markets head of commodity strategy, and John Kilduff, Again Capital founding partner, discuss what’s affecting global oil markets as oil hits the lowest level since mid-April.


US Sanctions On Iran: The Unraveling Of Pax Americana

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Amid current news headlines about North Korea and related nuclear issues, it is important not to ignore the potential schism that could occur in the G7 world as a consequence of the practical fallout from Donald Trump’s decision on May 8 to exit the 2015 Iran nuclear deal. WHAT WILL HAPPEN TO EUROPEAN INVESTMENTS IN IRAN? One […]


India, a Key US Ally, Plans to Ignore Trump’s Iran Sanctions

India, a Key US Ally, Plans to Ignore Trump’s Iran Sanctions thumbnail

President Donald Trump may have ordered the re-imposition of sanctions on Iran, but one of Asia’s biggest oil importers — and a strategic partner of the U.S. — plans on ignoring them. India, a long-time buyer of oil from both Iran and Venezuela, only complies with United Nations-mandated sanctions and not those imposed by one […]


The Next Big Crisis: Drinking Water

The Next Big Crisis: Drinking Water thumbnail

You might be looking at the next global crisis right now. Because as easily as most people get a clean drink out of the tap, billions of people can’t take that for granted. This problem is only going to get worse. For decades water access has been a slow-growing crisis as many parts of the […]


Heinberg: Systems Thinking, Critical Thinking, and Personal Resilience

Heinberg: Systems Thinking, Critical Thinking, and Personal Resilience thumbnail

As a writer focused on the global sustainability crisis, I’m often asked how to deal with the stress of knowing—knowing, that is, that we humans have severely overshot Earth’s long-term carrying capacity, making a collapse of both civilization and Earth’s ecological systems likely; knowing that we are depleting Earth’s resources (including fossil fuels and minerals) […]


Art Berman: Think Oil Is Getting Expensive? You Ain’t Seen Nothing Yet.

Art Berman: Think Oil Is Getting Expensive? You Ain’t Seen Nothing Yet. thumbnail

After issuing clear warnings on this program that sub-$50 oil prices were going to be short-lived, oil expert and geological consultant Art Berman returns to the podcast this week to explain why today’s $70 oil prices will go higher — likely much higher — and start materially contricting world economic growth. Art explains how the […]


Citigroup’s Morse Sees ‘Plenty of Oil to Go Around’

Citigroup’s Morse Sees ‘Plenty of Oil to Go Around’ thumbnail

Ed Morse, global head of commodities research at Citigroup, discusses what comes next for OPEC as oil prices drop on production concerns as he still sees the potential for $100 oil. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomber


Return to $100 Oil Is ‘Far From Unlikely,’ Norway Minister Says

Return to $100 Oil Is ‘Far From Unlikely,’ Norway Minister Says thumbnail

Two years ago, western Europe’s biggest oil producing nation said no one should count on $100 crude coming back. Now Norway’s changed its tune. “It’s far from unlikely that we will see $100 again,” Petroleum and Energy Minister Terje Soviknes said in an interview in Oslo on Tuesday. Thanks to output cuts by OPEC and […]


Crude Oil Collapse To Canadian Energy Sector

Crude Oil Collapse To Canadian Energy Sector thumbnail

Canadian stocks may come under pressure Monday as crude oil prices continue to plummet on renewed expectations that OPEC will ramp up production. OPEC and Russia will likely end their supply quota plan in the next few months, according to reports. Meanwhile, the U.S. shale boom is accelerating, with drillers adding the most rigs in […]


What exactly are “preppers” prepping for?

What exactly are “preppers” prepping for? thumbnail

“Prepping,” or getting ready to live without societal support, is apparently a largely American activity, and a recent one. Companies that cater to people who want to be self-reliant for food, water, and power have grown their revenue by about 700 percent over the last decade, and prepper products are now offered in places like […]


Peak oil in Venezuela: El Furrial oil field

Peak oil in Venezuela: El Furrial oil field thumbnail

We see the impact of the conventional oil peak in Venezuela. As an example let’s look at the El-Furrial field. Fig 1: Not La-Hora-Zero (yet) but low voter turn-out for the May 20 Maduro election http://800noticias.com/foto-caracas-desolada-este-domingo-en-pleno-proceso-electoral https://twitter.com/eutrafico Location Where is El Furrial? It is located 30 km west of the capital Maturin of the State […]


Turkey, Russia ink pipeline agreement, end gas dispute

Turkey, Russia ink pipeline agreement, end gas dispute thumbnail

Ankara and Moscow reached a retroactive agreement for a 10.25 percent discount on the natural gas and a payment of $1 billion will be made to Turkey, while the two sides also came to an agreement to complete TurkStream’s second line to Europe by 2019 Turkey and Russia have reached a retroactive agreement for a […]


Prolonged high oil prices may hurt economy

Prolonged high oil prices may hurt economy thumbnail

Crude oil prices are rising. This is a result of coordinated production cuts by major oil-producing nations, such as the Organization of the Petroleum Exporting Countries (see below) and Russia, which have been ongoing since January 2017. However, if prices continue to rise, it could put a damper on the robust world economy, resulting in […]


America 2018: Dicier By The Day

America 2018: Dicier By The Day thumbnail

Scrape all this putrid excrescence off and we’re left with a non-fantasy reality: everything is getting dicier by the day. If we look beneath the cheery chatter of the financial media and the tiresomely repetitive Russian collusion narrative (that’s unraveling as the Ministry of Propaganda’s machinations are exposed), we find that America in 2018 is dicier by the […]


Bill Ryerson – Dealing With The Elephant In The Room: Overpopulation

Bill Ryerson – Dealing With The Elephant In The Room: Overpopulation thumbnail

Worldwide, three new humans are born every second. Every day, 225,000 more mouths are added to the global dinner table. That adds up to 80 million new people per year — the population equivalent of the five largest cities in the world. That’s like a new Shanghai, a new Beijing, a new New Delhi, a […]


What Will Happen to Oil Prices In 2019?

What Will Happen to Oil Prices In 2019? thumbnail

Analysts at Bank of America Merrill Lynch issued a forecast in May claiming that oil prices over the next year can rise as high as $100 per barrel. Among the reasons behind the increase are the US withdrawal from the Iran deal and problems on the Venezuelan oil market. The oil prices have been on a […]


Maduro Vows To Double Oil Production

Maduro Vows To Double Oil Production thumbnail

Venezuelan President Nicolas Maduro has promised to start increasing the crisis-stricken country’s oil production during his second six-year term in office. AFP reports that during his inauguration speech, Maduro said he will seek the help of OPEC to double Venezuela’s oil production, which is currently at 70-year lows and much below its production quota under […]


China Will Need American Shale

China Will Need American Shale thumbnail

China’s shale gas production is picking up speed as it seeks to capitalise on the world’s highest estimated shale reserves. However, the communist-ruled nation is far from following in the footsteps of America’s shale boom, with analysts predicting China will miss its 2020 output targets by a wide margin. Nevertheless, China’s progress toward unlocking its […]


Is $100 Oil Coming Next?

Is $100 Oil Coming Next? thumbnail

Benchmark global oil prices have increased roughly 19% year-to-date and 39% over the past year, hitting the highest levels since 2014.1 Brent crude oil, the global benchmark, has reached $80 a barrel (bbl) while West Texas Intermediate (WTI), the North American benchmark, has passed $70/bbl. A host of factors have caused the surge in oil prices. […]


Visualizing U.S. Energy Consumption In One Chart

Visualizing U.S. Energy Consumption In One Chart thumbnail

Every year, the Lawrence Livermore National Laboratory, a federal research facility funded by the Department of Energy and UC Berkeley, puts out a fascinating Sankey diagram that shows the fate of all energy that gets generated and consumed in the United States in a given year. Today’s visualization is the summary of energy consumption for […]


Putin’s Endgame in Syria Has Arrived

Putin’s Endgame in Syria Has Arrived thumbnail

Syria increasingly seems to be moving toward de facto partition accompanied by ongoing low-level military conflict and a functional, but sluggish politics — a so-called frozen conflict. This may have been the goal all along for Russian President Vladimir Putin, who has initiated and managed such conflicts elsewhere, including in Georgia and Ukraine. Other significant […]


Surging gas prices could fuel backlash against Trump

Surging gas prices could fuel backlash against Trump thumbnail

President Donald Trump is hoping a wave of tax-cut-fueled economic euphoria will boost his approval ratings and his party’s political fortunes this fall. A sharp spike in gas prices could slam the brakes on all of that. As Americans head out for traditional Memorial Day weekend road trips, they’ll confront gas prices of nearly $3 […]


Puerto Rico: Deciding Its Energy Future

Puerto Rico: Deciding Its Energy Future thumbnail

The immediate energy nightmare in Puerto Rico is gradually winding down, with electrical power now available to about 90 percent of households (some rural areas are still without power). But it’s clear to nearly everyone that a reversion to the island’s previous energy status quo is not a viable option: Puerto Rico has no developed local energy […]


Saudi Oil Minister Says Aramco IPO Is ‘Most Likely’ in 2019

Saudi Oil Minister Says Aramco IPO Is ‘Most Likely’ in 2019 thumbnail

The initial public offering of Saudi Aramco will “most likely” happen in 2019, the kingdom’s oil minister said on Friday, confirming a delay for what’s likely to be the world’s largest ever share sale. “The timing I think will depend on the readiness of the market, rather than the readiness of the company or the […]


Operators looking for oil and gas “elephants” across Africa

Operators looking for oil and gas “elephants” across Africa thumbnail

With the oil price heading for the US$80 on the first day of the Africa E&P Summit, which opened today in London, ambitious operators are seeing multiple opportunities and seeking out the “elephants” – the remaining big hydrocarbons discoveries across the continent Access to energy will be boosted by oil and gas investment in Africa […]


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"World less USA peaked in November 2016 at 73,407,000 barrels per day. In July it was down 2,388,000 barrels per day from that point. The question  is: Just how long will the USA be able to continue to increase production in order to hold off #peakoil?" peakoilbarrel.com/opec-october-p…

test Twitter Media - "World less USA peaked in November 2016 at 73,407,000 barrels per day. In July it was down 2,388,000 barrels per day from that point. The question  is: Just how long will the USA be able to continue to increase production in order to hold off #peakoil?"
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@MarkJDoran @TheGreenParty @CarolineLucas You mean they were hoodwinking about #peakoil too. Well I never!