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News from July 2018

Donald Trump’s energy policy: No commitment to Canada

Donald Trump’s energy policy: No commitment to Canada thumbnail

Canada is a leading supplier of oil, gas and electricity to the United States, so the Trump administration’s overall attitude and policies toward energy are critical to many Canadian businesses. The Trump energy agenda may not create undue barriers to entry for Canadian producers, but it will also not provide any special opportunities. Like most […]


Earth Overshoot Day Offers Sustainability Lessons

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August 1 will mark Earth Overshoot Day, the day that worldwide humanity will, in only seven months, have taken more resources from the Earth than can be replenished within a single year. During a calendar year, the globe’s 7.6 billion residents consume through overfishing and overharvesting forests more than Earth can replace and emit more […]


Aramco’s Next Plan To Raise Billions Of Dollars

Aramco’s Next Plan To Raise Billions Of Dollars thumbnail

The Aramco IPO may now be history, put on indefinite hold several weeks ago, but Saudi Arabia’s funding needs have never been greater. As a result, 32-year-old Crown Prince Mohammed bin Salman, aka MbS, has come up with a “novel” scheme to raise tens of billions for the government. According to the WSJ, the de […]


Permian Decline Rate Innaccuracies Risky for Operators, Investors

Permian Decline Rate Innaccuracies Risky for Operators, Investors thumbnail

While parallels can be drawn between the current boom and prior periods of intense Permian activity, investors and operators should be careful when basing decline rates of horizontal tight oil wells on data from vertical wells, warns a July report by Wood Mackenzie. The Permian has thousands of vertical wells that have been producing for […]


Perry: ‘Energy independence within our grasp’

Perry: ‘Energy independence within our grasp’ thumbnail

“True energy independence is finally within our grasp… with America becoming a net natural gas exporter,” according to U.S. Secretary of Energy Rick Perry. “For too long, Russia has enjoyed near-monopoly status as the main supplier of natural gas to our European allies… Simply stated, the U.S. wants to help our partners increase their energy […]


Kunstler: On the Beach

Kunstler: On the Beach thumbnail

Comes August now, the month of vacancy, idleness, the slap and hiss of waves on sand, furtive romance on the dunes, perhaps, sweet corn, country roads, and county fairs, and more furtive romance, perhaps, on a blanket in the high meadow under a blood moon — and respite from the hellish host of foolish ideas, […]


Why, in a Few Years, Nobody Will be Talking About Climate Change Anymore.

Why, in a Few Years, Nobody Will be Talking About Climate Change Anymore. thumbnail

In the book “Hitler’s Willing Executioners” (1996) Daniel Goldhagen argues that the Germans couldn’t possibly have missed that their government was exterminating the Jews and other ethnical groups. But it is also possible that most Germans were misled by the technique of “deception by omission” played on them. This is a powerful perception management technology […]


U.S. Crude Oil Production And Exports Soar To Record Highs

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COMBO – This combination of two pictures shows U.S. President Donald Trump, left, on July 22, 2018, and Iranian President Hassan Rouhani on Feb. 6, 2018. In his latest salvo, Trump tweeted late on Sunday, July 22 that hostile threats from Iran could bring dire consequences. This was after Iranian President Rouhani remarked earlier in […]


Iran Confirms Unleashing Hezbollah Terror Cells In US, Threatens to Activate 5th Generation Warfare

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A top Iranian military official has warned the United States that Iran is prepared to launch a terror campaign against America, confirming what Alex Jones previously reported. On Monday, Alex Jones explained how a war with Iran would result in terror attacks throughout the United States. Watch the video below. Now, the news is on […]


The World Economy Runs on GPS. It Needs a Backup Plan

The World Economy Runs on GPS. It Needs a Backup Plan thumbnail

The small satellite network, which keeps global computer systems from freaking out, is shockingly vulnerable to all kinds of interference. Duke Buckner was enjoying his breakfast at the Renaissance Tel Aviv Hotel, looking out on the city marina, on the day that time stuttered. Buckner oversees marketing and business development for Microsemi Corp., an American […]


Saudi retreat on oil IPO highlights dearth of reliable information on world oil reserves

Saudi retreat on oil IPO highlights dearth of reliable information on world oil reserves thumbnail

Since late 2016 the financial media has been abuzz about what would likely be the biggest initial public offering (IPO) ever: The sale of 5 percent of the world’s largest oil company, Saudi Aramco, which is wholly owned by the government of Saudi Arabia. The IPO with its required disclosures would shed light on the […]


Iran’s rial hits record-low 100,000 to the dollar

Iran’s rial hits record-low 100,000 to the dollar thumbnail

Iran’s currency hit a record low on Sunday of 100,000 rials to the dollar amid a deepening economic crisis and the imminent return of full US sanctions. The unofficial rate stood at 102,000 rials by midday, according to Bonbast, one of the most reliable sites for tracking the Iranian currency. The rate was confirmed by […]


Iran “Preparing Ground” For National Cryptocurrency To Dodge US Sanctions

Iran “Preparing Ground” For National Cryptocurrency To Dodge US Sanctions thumbnail

Iran has confirmed it will press ahead with creating its own state-issued cryptocurrency to circumvent incoming U.S.. sanctions, local media Press TV reported July 25. image courtesy of CoinTelegraph Quoted by local news media outlet ISNA and translated by PressTV, Alireza Daliri, deputy for management and investment at the Directorate for Scientific and Technological Affairs, said plans for the creation of […]


Florida is about to be wiped off the map’

Florida is about to be wiped off the map’ thumbnail

Sea level rises are not some distant threat; for many Americans they are very real. In an extract from her chilling new book, Rising, Elizabeth Rush details how the US coastline will be radically transformed in the coming years ‘Take the six million people who live in south Florida today and divide them into two […]


Addicts and Gangsters

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“The rial is now at an all-time low, with an inflation rate of 147 percent. Addicts are dropping like flies.“   These past few weeks we have been talking about how hard it is to end our addiction to the fossil growth economy that is killing us all. Over many years we’ve been getting updates […]


Another critical oil chokepoint is in the firing line after Iranian general’s threats

Another critical oil chokepoint is in the firing line after Iranian general’s threats thumbnail

Iran’s top general lashed out at President Donald Trump this week, issuing a heated threat and putting a major Red Sea oil chokepoint directly in his sights. More than simply disrupting crude shipments, there are fears that escalated Iranian aggression through regional proxies could drag the U.S. into greater military conflict. “The Red Sea which […]


American Society Would Collapse If It Weren’t for These 8 Myths

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Our society should’ve collapsed by now. You know that, right? No society should function with this level of inequality (with the possible exception of one of those prison planets in a “Star Wars” movie). Sixty-three percent of Americans can’t afford a $500 emergency. Yet Amazon head Jeff Bezos is now worth a record $141 billion. […]


Interesting times ahead

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“May you live in interesting times.” This expression, which seems a blessing, is really laced with stinging irony: interesting times are often fraught with conflict, instability, and danger. Who can deny that we are living in interesting times? And what could be more interesting than the Helsinki press conference in which President Donald Trump stated […]


Texas to ‘Shatter’ Oil Production Records with Fewer Rigs and Workers

Texas to ‘Shatter’ Oil Production Records with Fewer Rigs and Workers thumbnail

Six months ago, Texas was on the cusp of breaking oil production records. In June, crude oil production reached 4.3 million barrels per day, putting Texas on track to “shatter” the previous record of 1.263 billion barrels in 1972. “We’re going to blow that record out of the water,” Karr Ingham, Texas oil economist and […]


Global Oil Discoveries See Remarkable Recovery In 2018

Global Oil Discoveries See Remarkable Recovery In 2018 thumbnail

Global discoveries of conventional oil and natural gas are seeing an exciting recovery with discovered resources already surpassing 4.5 billion boe in H1 2018, Rystad Energy analysis shows. The average monthly discovered volumes YTD are estimated at 826 million boe, up approximately 30% compared to 625 million boe in 2017. (Click to enlarge) During H1 […]


Saudis Halt Oil Shipments Through Red Sea: A Potential Watershed In The Yemen War

Saudis Halt Oil Shipments Through Red Sea: A Potential Watershed In The Yemen War thumbnail

A spike in oil prices as a result of a temporary halt in shipments through the strategic Bab el Mandeb strait may be short-lived, but the impact on Yemen’s three-year-old forgotten war is likely to put the devastating conflict on the front burner. The halt following a Saudi assertion that Iran-backed Houthi rebels in Yemen […]


3 Things Happening RIGHT NOW That Could Wreak Havoc on the Economy

3 Things Happening RIGHT NOW That Could Wreak Havoc on the Economy thumbnail

by Daisy Luther Anyone with a price book will agree that the cost of nearly everything has been steadily going up. Unfortunately, wages are not increasing at the same rate. And to quote Bachman-Turner Overdrive, you ain’t seen nothin’ yet. There are three events happening in the economy right now that could, alone, cause the […]


We Are Exceeding Earth’s Carrying Capacity

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IN HIS ARTICLE, “The Earth’s Carrying Capacity for Human Life is Not Fixed,” Ted Nordhaus, co-founder of the Breakthrough Institute, a California-based energy and environment think tank, seeks to enlist readers in his optimistic vision of the future. It’s a future in which there are many more people on the planet and each enjoys a […]


US Preparing To Bomb Iran’s Nuclear Capabilities As Soon As Next Month: Report

US Preparing To Bomb Iran’s Nuclear Capabilities As Soon As Next Month: Report thumbnail

As the White House convenes a policy meeting on Iran Thursday involving senior Pentagon officials and cabinet advisers under national security adviser John Bolton, and after a week of intense saber-rattling by President Donald Trump and his Iranian counterpart Hassan Rouhani, a new bombshell report by Australia’s ABC says the White House is drawing up plans to strike […]


Heinberg: Human Predators, Human Prey

Heinberg: Human Predators, Human Prey thumbnail

Society as Ecosystem in a Time of Collapse, Part I This month’s MuseLetter is Part I of a 3-part essay that uses predation as a metaphor to unpack power relations in human societies. Stay tuned! Introduction A lion runs down a gazelle; a raiding band brandishing clubs, bows, and arrows descends on a tribal village; […]


Peak Shale Oil?

Peak Shale Oil? thumbnail

The largest shale oil producer in the Permian spent $264 million more than they made from operations drilling 63 new wells in the Permian and only added a net 9,000 barrels per day of oil equivalent.  Now, how economical is that??? From SRSRocco’s website….. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ While the U.S. reached a new record of 11 million […]


Nuclear Watchdog Warns of Radioactive Leak at South Carolina Fuel Factory

Nuclear Watchdog Warns of Radioactive Leak at South Carolina Fuel Factory thumbnail

Radioactive uranium has leaked through a three-inch hole in the floor at a nuclear fuel factory in South Carolina, contaminating the soil below the plant, the US Nuclear Regulatory Commission says. According to the commission, the hole goes six feet down into the soil below the Westinghouse factory’s concrete floor. While the commission cannot yet say […]


What is the price of oil and why is it rising?

What is the price of oil and why is it rising? thumbnail

The price of oil has been on a roller-coaster ride over the past few years, plummeting from its 2014 peak before recovering – all with huge consequences for the global economy and especially oil-producing states. The threat of war between the US and Iran continues to drive oil prices up amid fears supplies could be […]


The Kek Wars, Part Two: In the Shadow of the Cathedral

The Kek Wars, Part Two: In the Shadow of the Cathedral thumbnail

In last week’s thrilling episode of The Kek Wars, we talked about the way that America’s managerial aristocracy and its broad penumbra of lackeys and hangers-on retreated into a self-referential bubble to avoid noticing the consequences of their preferred policies. As they did so, those policies—the metastatic growth of government regulation that strangled small businesses […]


The Regulation That Could Push Oil To $200

The Regulation That Could Push Oil To $200 thumbnail

Oil prices could spike as high as $200 per barrel over the next 18 months, which would cause an “economic crash of horrible proportions,” according to a new report. A research paper from economist and oil market watcher Philip K. Verleger predicts there could be a shortage of low-sulfur diesel fuel in 2020 as a result of […]


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