Beware a climate ‘doom loop,’ where crisis is harder to solve

The devastating effects of climate change on Earth could become so overwhelming that they undermine humanity’s capacity to tackle climate change’s root causes, researchers warned Wednesday. They are calling it a “doom loop.” The self-reinforcing dynamic, outlined in a report jointly published Wednesday by two British think tanks, warns of a spiral effect: Governments risk expending […]

IEA Raises Global Oil Demand Forecast Again

The International Energy Agency raised its forecast for global crude oil demand for 2023 in its Oil Market Report for February. Citing the re-opening of China’s economy as the main driver of rising demand, IEA analysts raised the 2023 forecast to 101.9 million barrels per day (bpd), an increase of 200,000 bpd from the agency’s […]

USA to Sell 26MM More Barrels From Strategic Oil Reserve

The Biden administration plans to sell more crude oil from the Strategic Petroleum Reserve, with deliveries estimated to happen between April and June. The non-emergency sale will amount to 26 million barrels of crude, according to people familiar with the matter, and is part the congressionally mandated sale lawmakers approved years ago for the current […]

Betting on Ukraine victory was ‘suicidal’ – Seymour Hersh

The West didn’t even want Kiev in NATO because of corruption concerns, the Pulitzer Prize-winning journalist says Ukrainian soldiers undergoing training in UK. ©  AFP / Ben Birchall The US and its allies should have attempted to reach an agreement with Moscow as their belief that Ukraine can win a conflict against Russia is “suicidal,” […]

Is Russia weaponizing oil?

Russia has said it will cut its oil output in response to Western embargoes and price caps. Moscow’s move doesn’t come as a surprise given the pain inflicted by the sanctions on Russia, but what about its real motive? Russia plans to cut its oil production by 500,000 barrels per day starting in March, or […]

Analyst Looks at Oil, Gas Damage of Recent Earthquakes

On February 6, a series of large earthquakes hit southern Turkey and northern Syria, followed by hundreds of aftershocks, the World Health Organization’s website notes.   In a statement sent to Rigzone, Alex Kavouris, a lead oil analyst at FGE, has outlined damage caused to oil and gas facilities as a result of the recent […]

Half the world to dump U.S. dollars in future, causing ‘tsunami of inflation’

As the world moves away from the U.S. dollar as a world reserve asset, dollars will be dumped globally, causing a “tsunami of inflation” in the United States as the currency returns to American shores. Interest rates will rise accordingly, followed by a “collapse” in asset prices, which would be used to usher in Central […]

When Will Oil Demand Peak?

When will oil demand peak? It depends on who you ask. Fitch Solutions, for example, doesn’t see oil demand peaking within its forecast period, which runs to 2032, according to Emma Richards, an associate director of oil and gas at the company. “Based on the way that growth is trending, it’s likely that demand will […]

Heinberg: A realistic ‘energy transition’ is to get better at using less of it

In 2022, I authored two articles expressing doubts about society’s transition from fossil fuels to renewable solar and wind power. In this final article in the series, I’ll explain why my conclusions are based on experience as well as analysis. This article was produced by Earth | Food | Life, a project of the Independent Media Institute. My […]

Gaia’s Way Out

“Gaia is no dummy. She is in the process of shifting from supporting humanity to killing it off. “       I’ve never completed writing a book without offering a positive solution. Granted, those are sometimes long shots. Some may even be futile. But we don’t know unless we try and if we don’t […]

China’s Oil Giants Want More Russian Crude

China’s state-owned oil refining giants are speeding up purchases of Russian crude, citing the allure of cheap cargoes from the OPEC+ producer as demand recovered after Covid Zero was ditched. China Petroleum & Chemical Corp., or Sinopec, as well as PetroChina Co. and CNOOC Ltd. have started and will continue to ramp up their procurement of […]

Kunstler: Where Do Things Stand?

Have you forgotten the Chinese balloon incident yet?  Don’t worry, you will. It was just a momentary distraction from the slow-motion crack-up of our country. And it came along with a boffo jobs report, led by hiring in “leisure and hospitality.” Oddly, the same month saw a record car re-po number, even higher than it […]

What Would War-End Mean for Global Oil and Gas?

The end of the war in Ukraine would reduce pressure on Western governments to continue expanding sanctions on Russia’s oil and gas sector. That’s according to Matthew Bey, a Senior Global Analyst at risk intelligence company RANE, who outlined that a war-end could also result in some sanctions, including the price cap on Russian crude […]

Oil production bounces back to highest level since pandemic began

U.S. oil production hit levels not seen since the onset of the COVID-19 pandemic, a development driven by a continuing rebound in demand for gasoline and other fuels. Daily crude oil production averaged 12.3 million barrels per day during the week ending Friday. The last time field production was that high was April 2020. The […]

Key Chinese Middle Eastern Hub Switches Gas Supplies To Europe

China has expanded its influence in the Middle East, signing long-term business deals with geologically strategic partners such as Oman and Iran. Turkey, with which Oman struck the major gas deal last week, has been notable in recent years for its political, economic, and military fluidity in dealing with NATO countries and Russia alike. It […]

How America Took Out The Nord Stream Pipeline

The U.S. Navy’s Diving and Salvage Center can be found in a location as obscure as its name—down what was once a country lane in rural Panama City, a now-booming resort city in the southwestern panhandle of Florida, 70 miles south of the Alabama border. The center’s complex is as nondescript as its location—a drab […]

Non-OPEC’s Oil Production Rise Continues in October

by Ovi Below are a number of Crude plus Condensate (C + C) production charts, usually shortened to “oil”, for Non-OPEC countries. The charts are created from data provided by the EIA’s International Energy Statistics and are updated to October 2022. This is the latest and most detailed world oil production information available. Information from other sources such as OPEC, the STEO […]

What the Energy Transition Needs Now is a Good Plumber

Cleantech investment is ready to flow… but the pipes of progress are clogged. 2022 was a watershed year for federal climate change legislation. The Inflation Reduction Act (IRA) directed $369 billion toward clean energy technology, infrastructure, and climate mitigation. The energy-related parts of the Infrastructure Investment and Jobs Act add another $75 billion. This feels […]

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