Will economic growth always rely on population growth?

Marketplace listener Kelly MacLellan wrote in with this question: I’m curious if there are any alternative models that don’t rely on indefinite population growth for economic growth. Recently, the news of falling birth rates has been framed as a “crisis,” but some theories related to population and the climate suggest we can continue growth without […]

Net Energy and ERoEI* in a Mark III Economy

Structure The Mark I economy had only one economic requirement, namely, that each person had to eat one potato per day or die. This was useful to show that one man’s wealth can mean another man’s or many men’s death. The Mark II economy had four or five economic sectors and was useful to demonstrate […]

Have we reached ‘peak oil’?

The U.S. oil and gas industry faces a daunting recovery from the pandemic, said Paul Takahashi at the Houston Chronicle. “about 107,000 oil, gas, and petrochemical workers have been laid off between March and August,” a staggering total even for an industry that is accustomed to soaring heights and crushing lows. But analysts say this […]

The Neutrino Tunnel Under the Alps Will be Finally Built

The Neutrino Tunnel Under the Alps Will be Finally Built, Declares Italian Minister Mariastella Gelmini.   The new neutrino tunnel from Central Italy to Switzerland will be based on gender parity hiring practices. Here, four young miners are ready to start their work at a tunnel that will be about 750 km long (image source) […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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%, […]

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 […]

The First “Global Inflationary Depression” Is Very Possible

It is possible that we might soon be witness to the first global inflationary depression. This is not a mix of words we normally see placed together. Several factors make this scenario possible. First, we seldom have depressions but instead, tend to roll through mild recessions, however, what we face may be far more severe. […]

Will we see oil at $100 a barrel again?

Brent crude has gained 23% to around $64 a barrel this year. Its gains have already surpassed the most bullish of forecasts, says Avi Salzman for Barron’s. Bank of America thinks crude will hit $100 a barrel “from time to time” over the next five years. Before 2014 crude regularly traded above $100. That era […]

Enthusiasm For Electric Vehicles Still Appears Excessive

For decades, enthusiasm for electric vehicles has failed to translate into market success. Though continued skepticism may be warranted, it’s important, naturally, to keep an open mind when considering whether this time really could be different. I’m kind of like the grumpy old man in the microwave commercial a few years back who, listening to […]

Everything Is About To Get More Expensive. This Is Good

With America already experiencing the beginnings of an inflation wave that may spiral out of control as a result of trillions in money printing the media is trying to get ahead of the story by claiming that everything becoming more expensive “is good.” It’s important not to alarm the cattle before they’re processed. pic.twitter.com/aMDUDyZj8V — […]

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 […]

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 […]

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). […]

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 […]

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 […]

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 […]

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, […]

China Is Approaching Its Own Peak Oil

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, SHI 0.21% China’s largest refiner, estimated in December that the nation’s demand for oil products will peak in 2025. While that might yet prove ambitious, a confluence […]

Is China Headed To Peak Oil Demand?

The world’s top oil importer, China, could be just years away from its own peak in domestic demand for oil products, Chinese refiners have started to warn, but consumer preferences and government policies about transport electrification and support for EVs are likely to determine whether Chinese domestic oil consumption will peak around 2025. China’s largest […]

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LATEST NEWS HEADLINES

• Bombshell book in Germany revives 9/11 as a business model
• Why ‘Peak Oil’ Won’t Mean the End of Drilling  
• Youngquist: the extraordinary geodestiny of Saudi Arabia and other gulf nations
• Will economic growth always rely on population growth?
• Bush, Obama, Or Trump: Who Was Best From Gasoline Prices?

• Could dimming the sun help to cool the Earth?
• Headed for a Collapsing Debt Bubble
• Drone attack on Riyadh oil refinery caused fire
• Money Is Made Up And We Can Change The Rules Whenever We Want
• India Looking for Other Sources of Crude Supply
• IEA says oil supercycle unlikely but gasoline demand may have peaked