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Latest Geology Headlines

Largest oil, gas resource ever assessed identified in Texas

Geology

The U.S. Geological Survey has determined that a vast shale field in West Texas and New Mexico could yield 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids, the agency said in a press release Thursday. The Wolfcamp Shale and overlying Bone Spring Formation […]


Peak Oil 20 Years Later: A Comment by Colin Campbell

Peak Oil 20 Years Later: A Comment by Colin Campbell thumbnail

Colin Campbell illustrating the concept of oil depletion. Colin Campbell is the originator of the concept of “peak oil,” the founder of the “Association for the study of peak oil and gas” (ASPO) and, together with Jean Laherrere, the author of the 1998 article on “Scientific American” that started a  wave of interest in oil […]


U.S. Declares Emergency After Quake Leaves Alaska in Darkness

Geology

U.S. federal authorities issued an emergency declaration for Alaska after a magnitude 7 earthquake struck on Friday, which left thousands without electricity and temporarily shut the state’s most important oil pipeline. The authorities have been directed to provide assistance for Anchorage as well as Kenai Peninsular and Matanuska-Susitna boroughs, according to an alert from the […]


US oil and gas reserves surpass 1970 record

US oil and gas reserves surpass 1970 record thumbnail

The United States has surpassed the 1970 record for proven oil and gas reserves, roughly doubling the amount of discovered petroleum in the ground in the past decade, the federal government said Thursday. The U.S. shale boom has unlocked large volumes of oil and gas, currently driven by drilling for crude oil in West Texas’ […]


Hubbert’s Peak by Kenneth Deffeyes

Geology

This is the first of three books that the late geologist Kenneth S. Deffeyes, who passed away a year ago this week, wrote about the coming global oil crisis. The goal of these books is to provide readers a rudimentary understanding of oil, where it came from and what’s involved in finding and producing it, […]


Peak oil, 20 years later: Failed prediction or useful insight?

Geology

Abstract 20 years ago, in 1998, Scientific American published a paper by Colin J. Campbell and Jean H. Laherrère titled “The End of Cheap Oil” [1], starting a debate on oil depletion continuing to the present day. It was the return of a viewpoint on oil depletion which had been proposed more than 40 years […]


Important Oil Discovery in Barents Sea

Geology

Equinor revealed Monday that a new oil discovery has been made though the Barents Sea Skruis exploration well, which is located in the Johan Castberg license. The well confirmed a volume of between 12 and 25 million recoverable barrels of oil, according to Equinor. Skruis is the first operated exploration well drilled by the company […]


How to keep the spectre of peak oil supply at bay

Geology

The warning signs are there – the industry isn’t finding enough oil. Guyana is one of the very few giant oil discoveries made during the downturn. Fact is, we need more Guyanas, a lot more, and we need them soon. Without them, the oil market is in danger of tightening in the not too distant […]


Bizarre, High Energy Particles Flying Out of Antarctica’s Ice

Geology

There’s something mysterious coming up from the frozen ground in Antarctica, and it could break physics as we know it. Physicists don’t know what it is exactly. But they do know it’s some sort of cosmic ray — a high-energy particle that’s blasted its way through space, into the Earth, and back out again. But […]


Mexico must double oil exploration spending to halt output fall

Geology

Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said Friday. The Pemex logo is pictured during the 80th anniversary of the expropriation of […]


Earthquake Blackout Points to Japan’s Fragility

Geology

“This was an extremely rare case,” said Akihiko Mayumi, the power company’s president, at a news conference. “We thought the risk of complete power failure was low.” By restarting more oil- and coal-powered plants, the company will probably be able to restore power to most households on Saturday, the government said. A Hokkaido Electric spokesman […]


Peak Oil: A Lesson in False Prophecy

Geology

As recently as 10 years ago, we were told that the world was running out of oil soon. Horrors! Then, directional drilling and fracking opened up the prolific resource of “tight” oil shale. New production records are being set daily; the U.S. now leads the world in oil reserves, ahead even of Saudi Arabia. Hubbert’s […]


Alaska’s North Slope ‘Super-Basin’ Still Holds 28 Billion Barrels of Oil

Geology

Since its discovery in 1968, Alaska’s North Slope (ANS) basin has produced nearly 17 billion barrels of oil. Since hitting a peak of 2 million barrels of oil a day in the late 1980s, production has fallen to around 400,000 barrels a day as of last week. But a lot more North Slope oil remains […]


The Sudden Death of Peak Oil – 4.5 Trillion Barrels of Oil Left

The Sudden Death of Peak Oil – 4.5 Trillion Barrels of Oil Left thumbnail

Google trends – nobody is interested anymore in the topic of “peak oil” Technology is not just expanding our daily oil production; it also continues to increase the amount of oil and liquid fuels we can count on for the future. In 1981, the U.S. Geological Survey estimated that remaining global recoverable crude and condensate […]


Why ‘Peak Lithium’ Is An Irrational Fear

Why ‘Peak Lithium’ Is An Irrational Fear thumbnail

Even ignoring the pop-up ads for lithium producers, serious observers have expressed concerns about the adequacy of those resources. For one thing, the booming demand for lithium-ion batteries for electric vehicles and backup power systems (from household level to utility-scale) has caused some to worry whether the lack of lithium resources will constrain efforts to […]


Saudi retreat on oil IPO highlights dearth of reliable information on world oil reserves

Saudi retreat on oil IPO highlights dearth of reliable information on world oil reserves thumbnail

Since late 2016 the financial media has been abuzz about what would likely be the biggest initial public offering (IPO) ever: The sale of 5 percent of the world’s largest oil company, Saudi Aramco, which is wholly owned by the government of Saudi Arabia. The IPO with its required disclosures would shed light on the […]


Global Oil Discoveries See Remarkable Recovery In 2018

Global Oil Discoveries See Remarkable Recovery In 2018 thumbnail

Global discoveries of conventional oil and natural gas are seeing an exciting recovery with discovered resources already surpassing 4.5 billion boe in H1 2018, Rystad Energy analysis shows. The average monthly discovered volumes YTD are estimated at 826 million boe, up approximately 30% compared to 625 million boe in 2017. (Click to enlarge) During H1 […]


The End of Oil and Gas

The End of Oil and Gas thumbnail

The end of oil and gas has been predicted on a regular basis since 1885, yet today we use more of both than ever before and no end is in sight in the data available. Figure 1 shows worldwide energy consumption by fuel since 1965 and projected to 2035 by BP in billion tonnes of […]


THE ENERGY CLIFF APPROACHES: World Oil & Gas Discoveries Continue To Decline

Geology

As the world continues to burn energy like there is no tomorrow, global oil and gas discoveries fell to another low in 2017.  And to make matters worse, world oil investment has dropped 45% from its peak in 2014.  If the world oil industry doesn’t increase its capital expenditures significantly, we are going to hit […]


USA and World Oil Production

USA and World Oil Production thumbnail

All data below is from various sources. All US data is from the EIA. Unless otherwise noted is in thousand barrels per day. USA data is through April. C+C production was almost flat in April, down 2,000 bpd. Texas through April. Texas production was up 30,000 bpd in April. North Dakota through April. North Dakota […]


THE ENERGY CLIFF APPROACHES: World Oil and Gas Discoveries Continue To Decline

Geology

As the world continues to burn energy like there is no tomorrow, global oil and gas discoveries fell to another low in 2017.  And to make matters worse, world oil investment has dropped 45% from its peak in 2014.  If the world oil industry doesn’t increase its capital expenditures significantly, we are going to hit […]


Peak Gold? Mining ‘At Tipping Point’

Peak Gold? Mining ‘At Tipping Point’ thumbnail

‘Cyclical drop’ due in gold mining, AI technology coming… GOLD MINING output will struggle to record a 10th consecutive year of growth in 2018 according to leading analysts, marking instead the start of a cyclical if not sustained drop from this decade’s new all-time peak. Global gold mining production may stand “at a tipping point,” […]


Peak Oil DEBUNKED! (OPEC & IMF are EVIL)

Geology

I did my research, and worked to make this video as helpful to people as possible. Trying to understand the way the oil industry works is near impossible without considering the IMF, OPEC, and the true motivations of people in power. World events are no coincidence.


Operators looking for oil and gas “elephants” across Africa

Geology

With the oil price heading for the US$80 on the first day of the Africa E&P Summit, which opened today in London, ambitious operators are seeing multiple opportunities and seeking out the “elephants” – the remaining big hydrocarbons discoveries across the continent Access to energy will be boosted by oil and gas investment in Africa […]


‘We’re right at peak gold’: All the major deposits have been discovered

Geology

Ian Telfer, chairman of Goldcorp Inc., is the latest industry magnate to predict the world has reached “peak gold,” saying that from here on out, mine production will continue to decline because all the major deposits have been discovered. “If I could give one sentence about the gold mining business … it’s that in my […]


New Rare Earth Deposits: A Non-Solution For A Non-Problem

Geology

  Above: the report on the “Financial Post” of April 13, 2018. The study that the report describes is not just a bad paper, but something highlighting the shortcomings of our whole society in understanding and managing mineral depletion. Any report on mineral availability that starts with “a semi-infinite deposit” should be taken with great […]


LAVA ERUPTION IN LEILANI ESTATES

LAVA ERUPTION IN LEILANI ESTATES thumbnail

Evacuations ordered as volcanic eruption continues in lower Puna (Image: Jeremiah Osuna/Facebook) PUNA, BIG ISLAND (HawaiiNewsNow) – Residents in Puna’s Leilani Estates subdivision fled with little more than the clothes on their backs Thursday night after an eruption in Kilauea’s east rift zone created a fissure in the community, spewing lava into the air as […]


“Unusual Eruptions” At World’s Largest Active Geyser In Yellowstone Stoke “Supervolcano” Fears

Geology

One month after we reported that fears of an eruption at the Yellowstone supervolcano continue to grow following the first eruption of the world’s largest active geyser for the first time since 2014, overnight Reuters reported  of continued “unusual eruptions” at the same location after said giant geyser erupted no less three times in the […]


Audit Puts Aramco’s Oil Reserves At 270 Billion Barrels

Geology

An international independent audit of the oil reserves of Saudi Aramco has more than confirmed the official figures released by Riyadh for three decades, putting the number at 270 billion barrels, two unnamed sources close to the company told Reuters. The audit was conducted by companies including DeGolyer and MacNaughton, and Baker Hughes’ Gaffney, Cline, and Associates. […]


Which countries have the biggest oil reserves?

Geology

Oil is created from the decomposition of organic materials, which are under extreme heat and pressure over a period of millions of years. Oil is more common than you think. You can find it in products like plastics, car tires, perfumes, etc. According to Our World in Data, fossil fuel production can be traced all […]


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When it comes to #PeakOil production the saudis are stockpiling are burrying oil. His raw crude is to be kept for 45 until it is planned for the market to be flooded with Saudi oil. This then enables hem to setup a crude oil monopoly by manipulating availability with stockpiles

test Twitter Media - When it comes to #PeakOil production the saudis are stockpiling are burrying oil. His raw crude is to be kept for 45  until it is planned for the market to be flooded with Saudi oil. This then enables hem to setup a crude oil monopoly by manipulating availability with stockpiles https://t.co/uwtzmJs23o

Hello economically concerned people of the megaverse! We are hitting #PeakOil today And it means a phasing out of ceabon based fuels such as coal and crude oil.