Why Collapse Occurs; Why It May Not Be Far Away

Collapse is a frightening subject. The question of why collapse occurs is something I have pieced together over many years of study from a number of different sources, which I will attempt to explain in this post. Collapse doesn’t happen instantaneously; it happens many years after an economy first begins outgrowing its resource base. In […]

Don’t Believe the US Energy Independence Hype

The U.S. is energy independent, right? Well, that’s what some politicians would have you believe, but it’s not really true in any meaningful sense of the word “independent.” In its broadest sense, energy independence can be taken to mean that the country produces more energy than the country consumes. That is the basis on which politicians […]

Globalist Weather Wars To Crush Humanity

The next big threat to humanity will be the manipulated weather crisis. Infowars.com

Israel’s Gantz Says Iran Could Be Behind Blast On Israeli-owned Ship

Israeli Defence Minister Benny Gantz said on Saturday he believes Iran is behind an explosion earlier this week on an Israeli-owned vessel in the Gulf of Oman. The MV Helios Ray, a vehicle carrier, was travelling from the Saudi port of Dammam to Singapore when the blast occurred on Thursday, according to the Dryad Global […]

Oil at $100?: Supercycle predictions divide veteran traders

Two of the biggest banks on Wall Street are calling a new “supercycle” in oil, with JPMorgan Chase and Goldman Sachs both predicting prices will soar when the pandemic abates. The most bullish forecast has international crude prices staging a comeback towards the US$100-a-barrel region — a level not reached since 2014. The expected surge […]

China’s Oil Reserves Near Limit

China’s crude oil reserves have reached a level equal to 100 days of imports, Bloomberg has reported, citing unnamed sources in the know, which is near the country’s storage capacity limits. The amount includes both strategic and commercial inventories, the Bloomberg source said. Data compiled by oil data analytics company OilX (that is powered by […]

Biden Carries Out Air Strikes In Syria Targeting “Iranian-Backed” Militia

You knew it was coming when the NYT set the stage yesterday with its latest anti-Assad hit piece titled “Having Won Syria’s War, al-Assad Is Mired in Economic Woes” (which makes only a passing reference just why Syria is mired in economic woes namely that “most of the country’s oil fields and much of its […]

For Energy Security, Power Is The New Oil

detail of electric equipment in mountain getty By Mark Finley The deep freeze that afflicted the center of the US last week caused massive power outages in Texas and surrounding states. The plight of millions without power and heat captured the headlines and attracted world-wide attention. In the meantime, other energy-related disruptions triggered by the […]

Why Our Financial System Is Unsustainable

How much energy, water and food will the “money” created out of thin air in the future buy? Finance is often cloaked in arcane terminology and math, but the one dynamic that governs the future is actually very simple. Here it is: all debt is borrowed against future supplies of affordable hydrocarbons (oil, coal and natural gas). […]

China announces MASSIVE oil & gas discovery in Bohai Sea

China National Offshore Oil Corporation (CNOOC) revealed this week that its newly discovered oil and gas field in the Bohai Sea contains proven geological reserves of 100 million metric tons of oil and gas equivalent. That makes Bozhong 13-2 one of the biggest crude oil production bases in the country, according to the company. The […]

Iran Eases Up on Inspections Threat

Director General of the International Atomic Energy Agency (IAEA) Rafael Mariano Grossi addresses the media after his arrival at Vienna International Airport on February 21, 2021. ALEX HALADA/AFP Here is today’s Foreign Policy brief: Iran and nuclear watchdog agree to an inspections deal, Myanmar’s protests surge for day of “Five Twos,” and Niger counts the […]

Is Another LNG Glut Looming?

Global natural gas demand is set to return to pre-crisis levels as early as this year and will continue to rise in the coming years, thanks to the coal-to-gas switch in Asia, particularly China.  The growing gas demand will drive more liquefied natural gas (LNG) consumption and trade, and producers are gearing up for a […]

Exxon Casts Out Canadian Oil Sands in Massive Reserves Slump

Exxon Mobil Corp. erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves to depths never before seen in the company’s modern history. Exxon counted the equivalent of 15.2 billion barrels of reserves as of Dec. 31, down from 22.44 billion a year earlier, according to a regulatory […]

Whispers of $100 Oil Return as Crude Shakes Off Covid’s Clasp

While oil’s dizzying collapse is still fresh for many traders, rumblings are starting to emerge that by the end of next year prices could once again top $100 a barrel. Azerbaijan’s Socar Trading SA predicts global benchmark Brent could hit triple digits in the next 18 to 24 months, and Bank of America sees potential […]

Is The Temporary Collapse Of Texas Foreshadowing The Total Collapse Of The US?

We are getting a very short preview of what will eventually happen to the United States as a whole.  America’s infrastructure is aging and crumbling.  Our power grids were never intended to support so many people, our water systems are a complete joke, and it has become utterly apparent that we would be completely lost […]

Big oil incurred record loss in 2020, joint output fell by 0.9 million boepd

  OSLO — The downturn brought by the COVID-19 pandemic and the accelerating energy transition has created a new reality for the world’s oil and gas industry, whose production will peak lower and earlier than expected before the 2020 market crisis, a Rystad Energy analysis shows. The five integrated supermajors — ExxonMobil, BP, Shell, Chevron […]

Oil Price Supercycle is a Meme

Analysts at Standard Chartered have noted that the recent rise in crude oil prices has been accompanied by mounting levels of discussion of a crude oil price supercycle. These analysts, however, think the concept of an oil supercycle is “seriously flawed”. “We understand its attraction to analysts and the media,” the analysts said in a […]

Peak oil demand is coming – but first brace for an almighty supply crunch

The world has turned its back on austerity. Keynesian reflation doctrines are triumphant. The Biden administration explicitly aims to run the US economy hot, with the help of the Federal Reserve.Global “green deals” amount to $16 trillion. “It’s going to turbo-charge oil demand in 2022,” said John Hess, head of ess Corp.This spending may be […]

Peak Oil from Conspiracy Theories

Many experts believe the world will run out of oil in the next 30 years, and some people think the looming scarcity inspired unconscionable acts — like the Iraq War in 2003. But there might be massive reserves under our feet that oil companies don’t want you to know about.

Saudi minister: Oil producers must remain extremely cautious

Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said on Wednesday that it was too early to declare victory against the COVID-19 virus and that oil producers must remain “extremely cautious”. “We are in a much better place than we were a year ago, but I must warn, once again, against complacency. The uncertainty is […]

Big Oil To See Production Peak In 2028

The pandemic shock to demand and the energy transition strategies are set to bring peak crude and natural gas production for Big Oil in 2028, at a lower volume and earlier than previously expected, Rystad Energy said in an analysis this week. The five integrated supermajors – ExxonMobil, Chevron, BP, Shell, and Total – will […]

What went wrong with the Texas power grid?

Millions of Texans were without heat and electricity Monday as snow, ice and frigid temperatures caused a catastrophic failure of the state’s power grid. The Texas power grid, powered largely by wind and natural gas, is relatively well equipped to handle the state’s hot and humid summers when demand for power soars. But unlike blistering […]

Joe Biden’s huge bet: the economic consequences of ‘acting big’

Joe Biden’s strategy for the US economy is the most radical departure from prevailing policies since Ronald Reagan’s free market reforms 40 years ago. With plans for public borrowing and spending on a scale not seen since the second world war, the administration is undertaking a huge fiscal experiment. The whole world is watching. If […]

U.S. Energy Crisis Leaves Millions Without Power in Big Freeze

The energy crisis crippling power grids across the U.S. showed no sign of abating on Tuesday morning as blackouts left almost 5 million customers without electricity during unprecedented cold weather. © Photographer: KENA BETANCUR/AFP People cross the street as snow falls in North Bergen, New Jersey on February 7, 2021. To prevent the collapse of […]

A Market Crash AND High Inflation?

Imagine for a moment that the price of all your investments — your stocks, your retirement portfolio, your house — suddenly drop in half this year. Now imagine that on top of that inflation suddenly picks up, making your cost of living skyrocket. That would be pretty awful, right? Well, this might not be just […]

China is approaching its own peak oil

Country’s energy companies are starting to look ahead to demand topping out around mid-decade Big Oil has become used to a ravenous China. But Chinese energy companies are starting to look ahead to an overall peak in oil demand around mid-decade. Sinopec, China’s largest refiner, estimated in December that the nation’s demand for oil products […]

Does a Correction Loom for the Oil Market?

Is crude oil due for a correction, or do demand fundamentals support continued upward momentum in prices? This question has been posed recently by various oil market observers. In this week’s installment of what to watch in the oil and gas markets, two of Rigzone’s regular market commentators offer rationales behind both price scenarios. Meanwhile, […]

Peak Oil Pt. 1 – The Playground

In 1859, a prospector invented modern drilling technology and kicked off an oil rush in the United States. Countless corporations made themselves rich through mass extraction — but according to one geologist and physicist, the world is on track to run out of fuel by 2050. When that happens, society as we know it may […]

Iraq in advanced talks to build oil storage in China

Iraq is in advanced talks with state-run Chinese companies to discuss building crude oil storage facilities in China as part a plan to boost oil sales to Asia, Iraq’s oil minister told Reuters. “Iraq is also discussing plans proposed by Pakistan for building crude oil storage facilities,” Iraq’s Oil Minister Ihsan Abdul Jabbar told Reuters […]

Where Energy Modeling Goes Wrong

There are a huge number of people doing energy modeling. In my opinion, nearly all of them are going astray in their modeling because they don’t understand how the economy really operates. The modeling that comes closest to being correct is that which underlies the 1972 book, The Limits to Growth by Donella Meadows and others. This […]

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