Kuwait’s State Oil Company to Seek Up to $20 Billion of Funding

The state oil company of Kuwait plans to borrow as much as $20 billion over the next five years to make up for an expected shortfall in funding, a person familiar with the matter said.     Kuwait Petroleum Corp. will need the money to maintain the petrostate’s crude-production levels, said the person, who asked […]

Pandemic Year Has Not Accelerated The Death Of Big Oil

In some circles, the question is increasingly being raised whether, among the many victims of the COVID-19 virus, may be the large, multinational oil and gas companies. Indeed, the 2020 reductions in travel and work hit energy companies hard. At the same time, a growing awareness of the potential devastation from climate change – think […]

This Land Is Your Land….

It’s time to reform how we lease public lands for fossil fuel extraction. When I drove across the country in my late teens, the wind of the prairies blowing through my long hair and feather earrings from the open window of my 1981 Toyota Tercel, I had no idea that 28% of US land is […]

Saudi Aramco CEO expects higher oil demand in 2021

Saudi Aramco ’s Chief Executive expects rising oil demand in 2021, he said on Sunday, citing Chinese demand approaching pre-pandemic levels while vaccines help other economies to open up. “We are pleased that there are signs of a recovery,” Amin Nasser told said at an earnings briefing from the Saudi oil giant. “We expect this […]

IEA cries wolf again: the point of no return

The agency may be overestimating demand and lowballing Opec supply to foresee a tighter market than will materialise The IEA suggests in Oil 2021, its latest medium-term outlook, that there may be no return to normal for the world oil market in the post-Covid era. But it then appears to contradict its thesis in its […]

“Where Am I Here?”

      Biden’s style — specifically how he communicates with the American people — is also a page from the FDR playbook. Two months into his presidency, he has been surprisingly disciplined and economical with his words and appearances. The verbal gaffes that dogged him throughout his long career in Washington are nowhere to […]

Massive ship blocking the Suez Canal brings billions of dollars in trade to a standstill

The massive container ship Ever Given has been stuck in the Suez Canal for three days, halting billions of dollars in trade as vessels pile up at both ends of the waterway. More than 150 ships are waiting to pass through the 120 mile canal, according to estimates from research firm StoneX. Images captured from […]

How stalling growth hurts the planet

Some environmentalists and economists are pushing for “degrowth” — stabilizing or even shrinking the economy — to avert environmental catastrophe. The big picture: Degrowthism may seem like the only reasonable response to the climate challenges we face, but the experience of enforced economic shrinking during the pandemic indicates the pain would outweigh the benefits — […]

Leap in Gas Prices Puts $3 a Gallon in Sight

The prospect of summer drivers crowding U.S. highways is powering steep gains in the price of gasoline, a sign of economic recovery and a boon for the pandemic-ravaged energy industry. Lifted by oil’s recovery and growing consumer demand, gasoline prices at pumps in the U.S. hit an average of $2.88 a gallon over the past […]

Could dimming the sun help to cool the Earth?

The project will see a test balloon launch this summer from the town of Kiruna It will send 2kg of chalk into the stratosphere 12 miles above the Earth’s surface Scientists will then monitor who the dust particles interact with the atmosphere This will be fed into computer models to predict how a larger plume […]

Headed for a Collapsing Debt Bubble

A $1.9 trillion stimulus package was recently signed into law in the United States. Can such a stimulus bill, plus packages passed in other countries, really pull the world economy out of the downturn it has been in 2020? I don’t think so. The economy runs on energy, far more than it operates on growing […]

Drone attack on Riyadh oil refinery caused fire

A drone attack on an oil refinery in Saudi Arabia’s capital Riyadh caused a fire that was brought under control, the Saudi energy ministry said in a statement carried by state media. The attack happened at 6:05 a.m. Saudi time, the statement said. Reuters

Money Is Made Up And We Can Change The Rules Whenever We Want

Have you ever noticed how online capitalism cultists who condescendingly tell socialists they “just don’t understand economics” are always unable to lucidly defend their own understanding of economics? If you’ve never pressed such a character to clearly and concisely explain what it is you “don’t understand” using their own words, I highly recommend that you […]

India Looking for Other Sources of Crude Supply

India will look for alternative sources of crude oil to ensure sustained supply of the fuel, Finance Minister Nirmala Sitharaman said. New supply chains won’t likely have an impact on crude prices though, she said on Saturday. The federal and state governments will have to discuss about the inflationary impact of rising crude and its […]

IEA says oil supercycle unlikely but gasoline demand may have peaked

An extended surge in oil prices is unlikely as the world rebounds from the pandemic given ample supply but changes are seen in demand and gasoline may have peaked, the International Energy Agency (IEA) said on Wednesday. FILE PHOTO: Crude oil is dispensed into a bottle in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration […]

Costs for New York City Natural Gas Ban Called ‘Astronomical’

A new report from a prominent business group has found that the cost to consumers of New York City Mayor Bill de Blasio’s proposal to ban natural gas hookups in new buildings by 2030 could be “astronomical.” The report by the Consumer Energy Alliance (CEA), whose membership includes hundreds of businesses and business groups including […]

Can Renewables Power An Entire City?

More than 170 cities across the United States have set goals to power their communities with 100% renewable electricity, according to the Sierra Club. How realistic would it be to generate electricity for an entire city solely with sources such as solar, wind, geothermal, and hydropower? Based on a sampling of responses from some renewables […]

Oil settles near $70/bbl on hopes of recovering demand

Oil settled near $70 a barrel on Friday, supported by production cuts by major oil producers and optimism about a demand recovery in the second half of the year. The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo Benchmark […]

Congruence of the Great Reset with Population Reduction Program

It’s a Great Reset and you  and yours ain’t in it.. –Paraphrase of  the late great George Carlin Maybe I’m foolish, maybe I’m blind Thinking I can see through this and see what’s behind Got no way to prove it, so maybe I’m lying But I’m only human after all I’m only human after all […]

Advanced nuclear reactors no safer than conventional nuclear plants, says science group

A new generation of so-called “advanced” nuclear power reactors that Washington believes could help fight climate change often present greater proliferation risks than conventional nuclear power, a science advocacy group said on Thursday. President Joe Biden, a Democrat, has made curbing climate change a priority and has supported research and development for advanced nuclear technologies. […]

Saudi Arabia targets 1 million b/d domestic oil demand reduction

Saudi Arabia plans to reduce domestic consumption of liquid hydrocarbons by 1 million b/d for use “in a better way”, the kingdom’s Energy Minister Prince Abdulaziz bin Salman said on March 16. Before the COVID-19 pandemic, the kingdom — the Gulf’s largest economy — was consuming around 491,000 b/d of oil for industrial use and […]

IEA: uncertain future for oil markets

World oil markets have rebounded from the massive demand shock triggered by COVID-19 but still face a high degree of uncertainty that is testing the industry as never before, according to a new report from the International Energy Agency (IEA). The forecast for global oil demand has shifted lower, and demand could peak earlier than […]

Big Oil: Time for a spin-off?

Like many other sectors across the economy, the energy industry – and oil and gas businesses in particular – has faced an incredibly difficult 12 months. The pandemic and the associated periods of lockdown have had numerous knock-on effects for business. For oil and gas, it has contributed to a cruel combination of low demand […]

Never Mind Peak Oil, Global Forecaster Calls Peak Gasoline

The International Energy Agency predicts that the global petrol craving is unlikely to return to pre-pandemic levels, calling for a peak of fuels that have powered personal transport for over a century. The Paris-based Energy Watchdog closely follows five-year forecasts, improving fuel efficiency of gasoline-powered vehicles and accelerating the global shift to electric vehicles from […]

China Splurges On Iranian Oil Despite US Sanctions

Despite the U.S. sanctions on Iranian oil exports, some Chinese refiners are buying so much Iranian crude that the ports in the Shandong province, where most independent refiners are based, are experiencing tanker traffic congestions, analysts and traders have told Bloomberg. China has never actually stopped buying crude oil from the Islamic Republic, even after the Trump […]

The Amazon is Likely Emitting More Greenhouse Gases Than It Absorbs, New Study Says

Scientists have predicted for years that at some point the Amazon rainforest, known as “the lungs of the planet,” would be overcome in its ability to scrub carbon dioxide from the atmosphere and could even emit more greenhouse gases than it absorbs. Now, a new study says, it’s probably already happened. The research, published Thursday […]

Oil settles near $70/bbl on hopes of recovering demand

Oil settled near $70 a barrel on Friday, supported by production cuts by major oil producers and optimism about a demand recovery in the second half of the year. FILE PHOTO: Oil tankers are pictured in the waters off Tuas in Singapore July 15, 2019. REUTERS/Edgar Su Benchmark Brent settled down 41 cents, or 0.6%, […]

‘The Saudis surprised everyone’: The Energy Word Founder on retaining unilateral cut

ADAM SHAPIRO: A little over 15 minutes to the closing bell. Remember when you were a kid, you made a promise, but if you had your hand behind your back and you were doing this, well, you didn’t have to keep it? Someone should remind the world that the Saudis and the Russians sometimes do […]

Asia thirst for liquefied natural gas is disrupting Europe’s market

Asia’s emergence as global natural gas trading superpower will increasingly dictate market rates in Europe for a once-localised commodity that was simply linked to the price of oil. The change was highlight­ed this winter, when freezing temperatures in the northern hemisphere meant liquefied natural gas (LNG) tankers went to Asia, the biggest consumer of the […]

9 Signs That Chess Pieces Are Being Moved Into Place For A Major War In The Middle East

The American people are really going to regret putting the warmongers back in control.  Joe Biden has been in the White House for less than two months, and the warmongers that Biden has surrounded himself with have been feverishly setting the stage for the next war in the Middle East.  I do not believe that […]

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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