Charles Hugh Smith Blog: Fire, Then Ice Our Deflationary Future

Lest you weep for those whose phantom wealth will be drained away, recall that few win when a reserve currency dies. Labor can start earning the day after the reset, but the capital lost is gone for good. Outside the “everything’s always fine” echo-chamber, the consensus is that easily created fiat currencies will all evaporate as […]

Potassium Depletion in Soil Threatens Global Food Security

Nutrient depletion in agricultural soil is nothing new. There have been numerous studies and concerns about the depletion of nutrient-rich topsoil and the loss of nutrients like carbon, nitrogen and phosphorus, but scientists are now warning about the depletion of potassium in soil. In a study published in the journal Nature Food, scientists highlight how […]

IEA to expedite 2025 oil demand forecast after OPEC’s early move

The International Energy Agency plans to bring forward publication of its first 2025 oil demand forecast in its monthly report by two or three months to April, the agency told Reuters, after OPEC expedited its forecast by six months. The Organization of the Petroleum Exporting Countries and the IEA are the two most closely watched […]

What’s Driving America’s New Oil and Gas Boom?

December 30, 2023 [Oilprice]- Last week Robert Rapier pointed out in a TikTok video that the U.S. is poised to set a new oil production record. In response, someone took exception to my claim by stating that he works in the industry, and drilling rigs are stacking up.   It is correct that the rig count has […]

China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy

China has dealt a serious political blow to Alberta Premier Danielle Smith. On Thursday, the country’s largest refiner, state-owned Sinopec, released its latest long-term energy forecast. Oil demand is now expected to peak in just a few years, not in 2045 as OPEC has predicted. Sinopec’s announcement calls into question Alberta’s energy strategy, which is […]

US seeks to buy up to 3 million bbls of oil for Strategic Petroleum Reserve

The U.S. Department of Energy on Friday said it wants to buy up to 3 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) for delivery in March 2024, as it takes advantage of lower prices to start to replenish the stockpile. The administration of President Joe Biden last year conducted the largest sale to date […]

Is the era of peak oil finally here?

Crude oil is a finite resource that must be dis­covered, extrac­ted from the earth, trans­por­ted often over vast dis­tances to refiner­ies, con­ver­ted into vari­ous usable con­stitu­ent products and then shipped to dis­par­ate points of the com­pass to power much of the mod­ern world. Until rel­at­ively recently, the debate over “peak oil” centered on the date […]

Qatar Signs Second 27-year Gas Supply Deal With China

Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate’s state-owned energy company said Saturday, its second such deal with the Chinese firm. Doha will supply three million tonnes of gas a year under the deal, QatarEnergy said, announcing another agreement granting the Chinese oil giant for a further share of […]

What is a ’15-minute city’, and should we be worried?

The explosion of conspiracy theories around the ‘15-minute city’ brings into focus the question, what is it? The 15-minute city isn’t a novel idea – it’s how many older parts of older cities already operate – but its growing use as a model for redesigning neighbourhoods has been met with extreme speculation that some proponents […]

Emergency Oil Meeting Discusses Potential For Diesel Outages

The European Union held an emergency meeting on Friday to discuss the potential for diesel supply shocks stemming from the conflict between Israel and Hamas. The EU Commissioner for Energy Kadri Simson called an emergency meeting on Friday to discuss the potential issues should there be a diesel supply outage, like strikes and long truck […]

Urban Futures: In Conversation with James Howard Kunstler

In this episode of ON CITIES, host Carie Penabad embarks on a conversation with best-selling author and social critic, James Howard Kunstler. Kunstler’s global recognition is grounded in his unapologetic scrutiny of modern American society, particularly within the realms of urban planning, architecture, energy and sustainability. A steadfast critic of suburban sprawl and unchecked urban […]

Oil Prices Soar After Attacks on Israel

Oil prices surged after a shock attack on Israel by Hamas brought renewed instability to the Middle East. More than 1,400 people have died since the fighting between Israel and militant group Hamas broke out over the weekend, in a conflict that has potential repercussions across the wider region. US crude futures settled above $86 […]

OPEC forecasts global oil demand to reach 116 million b/d in 2045

In its annual World Oil Outlook report released on Oct. 9, 2023, the Organization of the Petroleum Exporting Countries (OPEC) projects global oil demand to reach 110.2 million b/d in 2028, up 10.6 million b/d compared with 2022. Non-OECD oil demand is anticipated to make up 10.1 million b/d of this increase, reaching 63.7 million […]

Is the world ready for rapid urbanization?

CGTN is funded in whole or in part by the Chinese government. More than half of the world’s population lives in urban areas and it’s expected to grow in the next few decades. Executive Director of UN Habitat, Maimunah Mohd Sharif explains the importance of building sustainable cities. #heat Watch CGTN LIVE on your computer, […]

The Case For China’s Future Oil Demand

Fears about China’s economic growth have spooked oil prices throughout the summer months. In the first seven months of the year, China’s crude oil imports rose by 12.4%, hitting 122.4 million tons. Chinese economic growth may slow down in 2024, but consumers continue to drive petroleum demand growth in Asia’s largest economy. China has been […]

Peak Oil Demand Predicted by Bloomberg in 2027

According to a recent analysis by Bloomberg, the demand for gasoline and diesel has already peaked in the United States and Europe, and is expected to peak in China by 2024 and in India in the 2030s. Bloomberg predicts that global demand for road fuel will continue to grow for only four more years, reaching […]

IEA: Global Oil Demand Hits Record High

Global oil demand will hit new highs and is expected to average 102.2 million barrels per day (bpd) this year, driven by summer air travel, strong Chinese petrochemical activity, and higher oil use in power generation, the International Energy Agency (IEA) said on Friday. World oil demand is set to grow by 2.2 million bpd […]

IEA & Oilprice.com See Peak Oil Happening This Decade

Back in 2019 — before the Covid pandemic hit — the International Energy Agency (IEA) said it had peered into the future and could see no sign of “peak oil” happening any time soon. There was simply no end to the demand for oil and other fossil fuels in sight. A lot has happened since […]

IEA raises world oil demand forecast in 2023 towards all-time high

The International Energy Agency said on Friday it had revised upwards its forecast for global oil demand growth in 2023 as demand is “scaling record highs.” World oil demand already hit a record 103 million barrels per day in June and August and “could see yet another peak,” the Paris-based IEA said in its monthly […]

Just Stop Oil !!?? Part 2 – Oil is the Economy

In Part 2 of this Frankly Series, Nate breaks down why energy – and specifically oil – is currently the central foundation of our entire modern economic system. There are ecological and energetic laws that apply to all life, including humans and our economies. By accessing a huge surplus of dense carbon energy in the […]

Future Of Oil Demand Is Brighter Than You’ve Been Told

Oil demand’s future is rosier than the common narrative would have you believe, according to a report released today by Energy Outlook Advisors. According to energy analyst and the report’s author Anas Alhajji, the hope that oil demand will decrease as the world transitions to clean energy is built on a lot of hype and […]

India’s Russian oil buying scales new highs

India’s rising imports of Russian oil hit a record high of about 1.95 million barrels per day (bpd) in May denting purchases from Iraq and Saudi Arabia fell, tanker data from trade and industry sources showed. India, the world’s third biggest oil consumer and importer, buys more than 80% of its oil from overseas markets. […]

U.S. At Risk Of Blackouts This Summer

Extreme weather this summer will strain the U.S. power grids, putting two-thirds of North America at risk of electricity shortfalls this summer during periods of peak demand on the hottest days, the North American Electric Reliability Corporation (NERC) said this week in its reliability assessment. In a normal summer with around-usual temperatures, the grid would cope as […]

France Taps Emergency Fuel Stocks as Strikes Hobble Production

France is dipping into strategic stockpiles of fuels like gasoline and diesel for at least the third time in a year, with strikes over pension reforms decimating production and hampering logistics. The country has released more than 10 million barrels of oil since the latest spate of labor action started just over three weeks ago. […]

The Saudis Push Peak Oil Even Higher in China

Every year, state-owned giant China National Oil Corp. publishes an estimate of when the country’s oil demand might peak. Over the last few years, the date hasn’t changed much — give or take, around 2030 — but the apex just keeps moving higher. In 2018, CNPC said Chinese consumption would climax at about 690 million metric tons. In […]

Will The Oil Price Recovery Last?

Following a 10% slump in two weeks, oil prices jumped by 5% on Monday as concerns about the banking sector eased and 400,000 bpd of crude exports from Kurdistan were shut in. The move lower in oil prices this month was driven by broader market jitters amid a liquidity scare in the banking sector, which […]

Gasoline Is About To Get More Expensive

Here’s some bad news for drivers of luxury cars and large sport-utility vehicles who are pumping the top grade of gasoline: the premium they pay over regular fuel is getting pricier. US and European refiners are scrambling to get enough octane to make high-quality gasoline. There are several potential reasons for the shortfall, including the […]

USA EIA Cuts 2023 Oil Price Forecasts

The U.S. Energy Information Administration (EIA) lowered its Brent and West Texas Intermediate (WTI) oil price forecasts for 2023 in its latest short term energy outlook (STEO), which was released this week. According to the March STEO, the EIA now sees the Brent spot price averaging $82.95 per barrel and the WTI spot price averaging […]

When The Economy Gets Squeezed By Too Little Energy

Most people have a simple, but wrong, idea about how the world economy will respond to “not enough energy to go around.” They expect that oil prices will rise. With these higher prices, producers will be able to extract more fossil fuels so the system can go on as before. They also believe that wind […]

The End of the Oil Age Gets Postponed Again

It looks like we have to wait a little more to see the end of the oil age. Our desire to burn more and more stuff knows no limits — at least not when talking about the foreseeable future. Statements like “oil will be needed for at least another 10 years” or “independent experts agree […]

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LATEST NEWS HEADLINES

• Is It Time To Abandon the Idea of Phasing Out Oil and Gas?
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• Charles Hugh Smith Blog: Fire, Then Ice Our Deflationary Future
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• 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
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• US oil production will keep booming in 2024, setting up a possible showdown with Saudi Arabia
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