World food prices hit 10-year peak

World food prices rose for a second consecutive month in September to reach a 10-year peak, driven by gains for cereals and vegetable oils, the United Nations food agency said on Thursday. The Rome-based Food and Agriculture Organization (FAO) also projected record global cereal production in 2021, but said this would be outpaced by forecast […]

Energy Crisis Threatens to Hit USA Grids

The energy crisis that’s led to electricity shortages and blackouts in Europe and Asia may be heading for the U.S. Electric companies are alerting customers about winter price hikes and an energy hedge fund warned of potential gas shortages. Ernie Thrasher, chief executive officer of Xcoal Energy & Resources LLC, said utility executives have told […]

An energy crisis is gripping the world, with potentially grave consequences

Energy is so hard to come by right now that some provinces in China are rationing electricity, Europeans are paying sky-high prices for liquefied natural gas, power plants in India are on the verge of running out of coal, and the average price of a gallon of regular gasoline in the United States stood at […]

The workers who keep global supply chains moving are warning of a ‘system collapse’

Seafarers, truck drivers and airline workers have endured quarantines, travel restrictions and complex Covid-19 vaccination and testing requirements to keep stretched supply chains moving during the pandemic. But many are now reaching their breaking point, posing yet another threat to the badly tangled network of ports, container vessels and trucking companies that moves goods around […]

Colossal Fossil Total Projects Peak Oil by 2030, Still ‘Leaves it to Others’ to Meet Paris Targets

A shareholder action group says TotalEnergies is leaving it to others to meet the carbon reduction goals in the Paris agreement, after the Paris-based colossal fossil predicted the world will hit peak oil demand around 2030 but still produce 40 to 64 million barrels per day in 2050. At Total’s annual Investor Day Monday and […]

Petrol bosses warn fuel shortage ‘getting worse’ in London

Fuel shortages are getting worse rather than improving, especially in London and the south-east of England, the chairman of the Petrol Retailers Association (PRA) has warned. Brian Madderson said it remains a “really big problem” in this part of the UK, and told the BBC’s Today programme: “In London and the South East and possibly […]

Europe’s Energy Crisis Is Coming for the Rest of the World, Too

This winter, the world will be fighting over something that’s invisible, yet rarely so vital—and in alarmingly shorter supply. Nations are more reliant than ever on natural gas to heat homes and power industries amid efforts to quit coal and increase the use of cleaner energy sources. But there isn’t enough gas to fuel the […]

Total Sees Oil Demand Peaking Before 2030

French energy giant TotalEnergies SE expects global oil demand to peak before the end of this decade, sooner than it previously forecast, as more nations crack down on fossil fuels to fight global warming. The oil major’s 2021 Energy Outlook, which includes net-zero pledges unveiled by several countries since the presentation of last year’s edition, […]

Oil climbs for sixth day on supply concerns, Brent tops $80

Brent at highest since 2018, WTI highest since July As OPEC reopens taps, African giants struggle to pump more China faces power shortages, hitting factory output LONDON, Sept 28 (Reuters) – Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which […]

How to end the American obsession with driving

This summer’s series of extreme wildfires, hurricanes, and tropical storms have made it more apparent than ever that the effects of climate change are here. Limiting the damage caused by future disasters will require a whole-of-government approach — one not limited to what the federal government can do. There’s a host of ideas that states […]

Citi Not Ruling Out $100 NatGas

Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly cold winter. Liquefied natural gas prices are skyrocketing as seasonally low European inventories, booming Chinese demand and supply constraints […]

Petrol/Fuel Shortages UK and World Wide 2021

Is There is a Petrol Shortages? If Not, Why Are the Petrol Stations Being Closed? https://www.telegraph.co.uk/business/2021/09/23/petrol-shortage-uk/ Merriam King Huppard Peak Oil https://youtu.be/HFlLtn9YNag Saddam Destroys Kuwait Oil Fields 19…

Saudi Arabia Maintains Position of Top Oil Supplier to China

Saudi Arabia, the world’s largest oil exporter, maintained its leadership of crude suppliers to China for the ninth consecutive month in August, as major producers eased production cuts. Data from the General Administration of Customs in China showed on Monday that Saudi oil imports rose 53 percent from the previous year to reach 8.06 million […]

China’s Xi Jinping Promises No New Coal Plants Abroad As It Ramps Up Domestic Production

Chinese leader Xi Jinping pledged at the United Nations General Assembly meeting on Tuesday to halt the construction of coal-fired power plants abroad. “China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power projects abroad,” Xi said in a prerecorded video. The announcement […]

Daniel Yergin’s firm predicts petroleum fuel demand peaks in 2036

Add one of the most respected figures in the oil and gas industry to those predicting that demand for petroleum products is nearing its peak. IHS Markit, of which Pulitzer Prize-winning oil historian Daniel Yergin is vice chairman, released a report Monday predicting that demand for refined products like gasoline and diesel would peak in […]

Oil Glut That Covid Built All But Gone

Global crude inventories that ballooned during the pandemic have shrunk to the lowest level in 20 months as an economic rebound in top consumers China and the U.S. drive a robust recovery in fuel demand. About 2.97 billion barrels of crude oil were stored onshore globally as of Sept. 5, the least since January 2020 […]

China’s oil consumption seen peaking around 2026

China’s oil consumption is likely to peak around 2026 at about 16 million barrels per day and that of natural gas by around 2040, according to a top executive of Sinopec Corp . Sinopec’s oil peak forecast echoes a prediction by consultancy Rystad Energy in April that cited rapid adoption of electric vehicles as the […]

9/11 had major impact on energy industry

Energy infrastructure undergirds just about everything. An above-ground network of power lines keeps the lights on, the A/C running and the Wi-Fi connected. An underground network of pipelines fuels stoves and furnaces and allows gasoline to flow freely from the pumps. In Wyoming, energy is plentiful — and predictable. Most people don’t really have to […]

Oil prices could hit $200/b without new investments in upstream sector

Global oil prices could soar to $200/b if no new investments are made in the oil and gas sector in the short-term, Oman’s energy and minerals minister said Sept. 9, in reply to the International Energy Agency’s assessment for reaching net-zero emissions by 2050. The IEA said in a May 18 report that, under an […]

The U.S. Power Grid Is At Risk Of Catastrophic Failure

Future electricity systems must be made more resilient Prolonged blackouts in Louisiana following Hurricane Ida are a reminder the power grid needs to become more resilient as well as reliable if even more services such as electric vehicles are going to depend on it in the future. The electricity system is already directly responsible for […]

Global Oil Demand To Peak By 2025

New York August 25, 2021: Global crude and condensate demand would peak in four years and slump by 40 percent over the next three decades if the world moves to a path outlined by the UN’s Intergovernmental Panel on Climate Change, or IPCC, where global warming is limited to 1.5 C or 2 C degrees, […]

How Much Energy Do We Need to Achieve a Decent Life for All?

For many, an increase in living standards would require an increase in energy provision. At the same time, meeting current climate goals under the Paris Agreement would benefit from lower energy use. IIASA researchers have assessed how much energy is needed to provide the global poor with a decent life and have found that this […]

Exxon Taps Strategic Oil Reserve

Exxon Mobil Corp. is tapping the U.S. Strategic Petroleum Reserve to revive gasoline production in Louisiana after Hurricane Ida left much of the devastated state’s refining and oil production offline. Authorization to take 1.5 million barrels of crude from the government’s emergency stockpiles came after President Joe Biden said Thursday the U.S. would use all […]

Saudi Arabia Remains Top Oil Supplier to China

Saudi Arabia Remains Top Oil Supplier to China Saudi Arabia remained the largest supplier of crude oil to China for the ninth consecutive month in July, but its shipments of crude fell 10% on a monthly basis, while shipments from Russia fell only 4%. According to data from the General Administration of Customs in China, […]

U.S. Petroleum Demand Holds Strong Even as Delta Variant Raises New Worries

Consumption of U.S. petroleum climbed last week, driven by demand for jet and distillate fuels, while production ticked up and inventories dropped, the U.S. Energy Information Administration (EIA) said Wednesday. The boost in consumption extended a summer-long trend — a few weekly interruptions aside — despite mounting coronavirus cases that forced downward revisions to oil […]

The Oil & Gas Inflation Trap That No One Wants To Talk About

President Joe Biden has lately sought to soothe fears that rising inflation could hurt the U.S. recovery and undermine his $4-trillion spending plans. This comes after U.S. inflation for the month of June accelerated to the fastest clip since 2008, as the economy continues to recover following the Covid-19 related lockdowns. According to the Labor […]

U.S. Coal Consumption Falls To 60-Year Low

The is the fifth article in a series on BP’s recently-released Statistical Review of World Energy 2021. Previous articles provided an overview of this year’s Review, an examination of the data on carbon emissions, a look at oil supply and demand trends, and an examination of natural gas trends. Today I delve into the data on […]

EIA Reveals New Oil Price Forecast

The United States Energy Information Administration (EIA) kept its Brent spot average prices for 2021 and 2022 flat month on month, the organization’s latest Short Term Energy Outlook (STEO) has revealed. According to its August STEO, the EIA now sees the Brent spot price averaging $68.71 per barrel this year and $66.04 per barrel next […]

China is Redrawing the World’s Energy Map

China’s outsize energy needs and its reliance on overseas suppliers have underpinned its foreign policy for decades. Now those needs are changing. The planet’s largest oil and coal importer wants to become greener and more self-reliant and has already taken strides toward those goals. The rest of the world needs to pay attention.By 2060 the world’s second-largest […]

Peak Oil Demand With Morse (Podcast)

Ed Morse, Citi Head of Commodities Research, says we haven’t reached peak oil demand yet, but it’s coming. William Lee, Milken Institute Chief Economist, Fed is concerned with maximum extent of employment. Brian Levitt, Invesco Global Market Strategist, says the U.S. wll stabilize to a more modest growth rate. Claudia Sahm, Jain Family Institute Senior […]

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LATEST NEWS HEADLINES

• Can Nuclear Fusion Put the Brakes on Climate Change?
• Starvation Diet
• World food prices hit 10-year peak
• Energy Crisis Threatens to Hit USA Grids
• Global Energy Crisis: Brace for Higher Gas, Electricity and Utility Bills

• Petrol/Fuel Shortages UK and World Wide 2021  
• Saudi Arabia Maintains Position of Top Oil Supplier to China
• Texas adds 2,800 oil exploration and production jobs in August
• China’s Xi Jinping Promises No New Coal Plants Abroad As It Ramps Up Domestic Production
• Daniel Yergin’s firm predicts petroleum fuel demand peaks in 2036
• Oil Glut That Covid Built All But Gone