Low Oil Prices: An Indication of Major Problems Ahead?

Many people, including most Peak Oilers, expect that oil prices will rise endlessly. They expect rising oil prices because, over time, companies find it necessary to access more difficult-to-extract oil. Accessing such oil tends to be increasingly expensive because it tends to require the use of greater quantities of resources and more advanced technology. This […]

Kunstler: Deep Quandaries of the Deep State

Watergate had tragic Shakespearean overtones, with Nixon as King Lear, but Russia-Gate — perhaps the last gate America goes through on its giant slalom run to collapse — is but a Chinese Fire Drill writ large. The reason? In 1973, we were still a serious people. Today, the most lavishly credentialed elite in history believe […]

The romance of drilling for oil has peaked

When the price of crude oil goes through one of its periodic downturns, as it is doing now, it sends a shiver through the oil industry. History promises that higher prices will return. Until then, US shale companies are under severe pressure and big oil companies wonder about the viability of new projects. There is […]

US oil and gas reserves surpass 1970 record

The United States has surpassed the 1970 record for proven oil and gas reserves, roughly doubling the amount of discovered petroleum in the ground in the past decade, the federal government said Thursday. The U.S. shale boom has unlocked large volumes of oil and gas, currently driven by drilling for crude oil in West Texas’ […]

Oil Falls Below $50 for First Time in Over a Year

Oil crashed below $50 a barrel for the first time in more than a year as Russia signaled little urgency to commit to supply cuts, while U.S. crude stockpiles continue to grow. Futures tumbled as much as 1.8 percent in New York, after sliding 2.6 percent in the previous two sessions. Just days before talks […]

A Rising Money Supply Doesn’t Necessarily Lead to Rising Prices

According to many mainstream economists, a lack of good correlation between the monetary growth and the growth rate of various price indexes casts doubt on the commonly held view that the key source of inflation is increases in money supply. It is also argued that before the 1990, the relationship between money supply and inflation […]

The Khashoggi killing had roots in a cutthroat Saudi family feud

Behind the brutal murder of Jamal Khashoggi lies a power struggle within the Saudi royal family that helped feed the paranoia and recklessness of Crown Prince Mohammed bin Salman. Eventually, this rage in the royal court led to the death and dismemberment of a Washington Post journalist. The opening scenes of this family feud took […]

Richard Heinberg: Foreword to Oil, Power and War

Come and listen to my story ’bout a man named Jed A poor mountaineer barely kep’ his fam’ly fed And then one day he was shootin’ at some food And up through the ground come a-bubblin’ crude. Oil, that is. Black gold. Texas tea. Well the first thing you know old Jed’s a millionaire. The […]

Saudi Output Reaches Record as Trump Presses for Cheaper Oil

Saudi Arabia is pumping more crude than at any time since its first barrel was extracted 80 years ago, responding to pressure from U.S. President Donald Trump to keep driving oil prices lower. Saudi daily output reached 11.2 million barrels a day, from 10.8-10.9 million barrels earlier this month, according to a person familiar with […]

Hubbert’s Peak by Kenneth Deffeyes

This is the first of three books that the late geologist Kenneth S. Deffeyes, who passed away a year ago this week, wrote about the coming global oil crisis. The goal of these books is to provide readers a rudimentary understanding of oil, where it came from and what’s involved in finding and producing it, […]

Everyone Not Exporting Arms To Saudi Arabia Is Halting Arms Exports To Saudi Arabia

Only after Washington Post columnist Jamal Khashoggi was brutally murdered did the major networks like CNN finally discover Saudi atrocities in Yemen and a horrid human rights record and history of crackdown on dissent at home. While perhaps we might say better late than never, it’s interesting to now see pieces being written about “the latest […]

Kunstler: Murphy’s Law to the Rescue!

What can go wrong will go wrong. It’s so fundamental to the operation of the universe that Sir Isaac Newton should have installed it between his 2nd and 3rd Laws of Motion — but he had his hands full losing a fortune in Britain’s South Sea Bubble circa 1721, after muttering to a colleague that […]

Saudi Prince says CIA cannot be trusted

A senior Saudi prince cast doubt on the reported CIA finding that Saudi Crown Prince Mohammed bin Salman ordered the killing of journalist Jamal Khashoggi in Istanbul last month, saying the agency could not be counted on to reach a credible conclusion. “The CIA is not necessarily the highest standard of veracity or accuracy in […]

Venezuela Has Hyperinflation. Now What?

Venezuela is the fifty-seventh country to encounter hyperinflation in modern history. The economist Steve Hanke estimated — using the doctrine of purchasing power parity (PPP) — that the country’s monthly inflation exceeded 50 percent for more than thirty days in November 2016. Therefore, it entered the list of Hanke-Krus hyperinflations.The International Monetary Fund (IMF) estimates that Venezuela’s […]

Does The US Really Need Saudi Oil?

“Saudi Arabia — if we broke with them, I think your oil prices would go through the roof. I’ve kept them down,” President Trump told reporters on Tuesday. “They’ve helped me keep them down. Right now we have low oil prices, or relatively. I’d like to see it go down even lower — lower.” Oil […]

Cities with no water

Water scarcity is a condition that surfaces when water resources are insufficient to fulfil people’s usage demands. For any region or country, water scarcity occurs if the availability of water is less than 1,000 m3/person/year. This is among the most serious problems that the world is currently facing. The reasons for this scarcity are surprisingly […]

You think 2018 is the worst year ever? Try the real dark age: 536

It may seem amid the maelstom that is 2018 that it’s a pretty bad time to be alive. There’s the terrible and accelerating effect of climate change, the rise of fascist and “alt-right” politics, violent conflict, millions of stateless refugees, a looming Brexit crisis and political turmoil in many other directions. But there have been […]

For Whom is Peak Oil Coming? If you own a Diesel Car, it is Coming for you!

At the beginning, the idea of “peak oil” seemed to be relatively uncomplicated: we would climb from one side and then go down the other side. But no, the story turned out to be devilishly complex. For one thing, there is no such a thing as “oil” intended as a combustible liquid — there are […]

The Arithmetic of Plastic

“Isn’t it time we asked why we design a material to last forever and then put that into objects intended to be discarded after a single use?” The late University of Colorado mathematics professor Albert Bartlett is said to have given his classic lecture on the exponential function more than 1000 times. I show the […]

Big Oil Doesn’t Like EV Subsidies, Just Its Own Giant Subsidy

You may not have heard, but electric vehicles are just another one-percenter boondoggle, Jay Gatsby’s cream-colored Rolls Royce reincarnated and partly paid for by you, the toiling masses, via various subsidies. As an argument, it is tailor-made for an era of anger at “elites.” And it’s one with which I’ve become familiar reading recent letters from organizations such as Koch Industries […]

Oil prices hit a 2018 low

Global oil supply has surged this year, with the top-three producers — the United States, Russia and Saudi Arabia — pumping more than a third of global consumption. Saudi Arabia is pushing OPEC to cut oil supply by as much as 1.4 million bpd to prevent a supply glut. Shanghai stocks fell the most in […]

Canada Is Now A Land Of Oil Trains

Canada’s oil industry is facing record-low prices for its exports, a glaring lack of infrastructure to bring its product to market, and an uncertain long-term outlook. But none of that is stopping the oil patch from increasing production. And as one pipeline project after another fails to launch, the industry is relying more heavily than […]

A Hidden Radioactive Heat Source Seems To Be Melting Antarctica from Below

When it comes to measuring ice loss at the poles, and predicting what might happen next, scientists need as much accurate data as they can get – and a new study suggests there’s a big source of geothermal heat underneath East Antarctica that we haven’t yet factored into our calculations. Ice in this area appears […]

Welcome To Planet Earth by Caitlin Johnstone

Welcome to Planet Earth, where books written by dead men tell the living how to live. Where children who do not know how to live teach their children how to live. Where children pray for miracles using minds that are made of miracles with clasped hands that are made of miracles. Where children wander in […]

Trump Pushes for Lower Oil Prices

U.S. President Donald Trump has pushed for lower oil prices in a Twitter statement published Wednesday. Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower! — Donald J. Trump (@realDonaldTrump) 21 November 2018 Commenting on […]

The Oil Industry Is Facing A “Capex Conundrum”

Oil industry executives are surely pleased with themselves this year, with both large and small companies reporting improved financials after years of struggling. A Reuters survey finds a significant shift towards profitability for the U.S. shale industry after years of rising debt and negative cash flow. Reuters analyzed 32 independent shale companies, and about a […]

China to Launch ‘Artificial Sun’ Into Space That Reaches 100 Million Degrees Celsius

From its plans to harness and enhance its artificial intelligence (AI) capabilities to its vision of a solar highway planned into the not-too-distant future, China is strongly demonstrating its position as a technology trendsetter of the 21st century. Industry China is Building Floating Nuclear Power Stations One of the most ambitious and forward-looking plans now […]

Drawdown: the Most Comprehensive Plan ever Proposed to Reverse Global Warming

Drawdown was a major collaborative effort involving 70 research fellows from 40 countries. It’s not so much a cohesive plan as a list of partial solutions: 80 that are tested and in use at least somewhere in the world, and another 20 that are speculative. The book has a few essays but is primarily composed […]

Researchers Discover Second Earth: Pack your bags

Researchers have confirmed the existence of a SECOND Earth located in the Proxima Centauri System. The planet is believed to have oceans just like Earth and may hay host alien life. In the past, thousands of exoplanets have been discovered in the universe, but none of them is like Proxima B. Proxima b, as has […]

Peak oil, 20 years later: Failed prediction or useful insight?

Abstract 20 years ago, in 1998, Scientific American published a paper by Colin J. Campbell and Jean H. Laherrère titled “The End of Cheap Oil” [1], starting a debate on oil depletion continuing to the present day. It was the return of a viewpoint on oil depletion which had been proposed more than 40 years […]

Next Page »

LATEST NEWS HEADLINES

• Is It Time To Abandon the Idea of Phasing Out Oil and Gas?
• More than 20% of global refining capacity at risk of closure
• Charles Hugh Smith Blog: Fire, Then Ice Our Deflationary Future
• Saudi Aramco CEO Amin Nasser says energy transition strategy ‘visibly failing’
• 100 million-degree ‘artificial sun’ sets new records in hunt for energy’s ‘Holy Grail’

• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy
• US seeks to buy up to 3 million bbls of oil for Strategic Petroleum Reserve
• Desertification: the world is losing healthy land at an astonishing rate
• US oil production will keep booming in 2024, setting up a possible showdown with Saudi Arabia
• Saudi Arabia piles pressure on UAE to shift COP28 focus away from oil and gas
• US Warship, Commercial Ships Under Attack In Red Sea