At the peak, but not on track

ARE WE THERE YET? — The world may for the first time be on a policy course to actually stop increasing its fossil fuel use. The International Energy Agency released projections on Thursday that show current policies will be enough to force a peak or plateau in the use of fossil fuels, even with the […]

U.S. Officials Had a Secret Oil Deal With the Saudis. Or So They Thought.

As President Joe Biden was planning a politically risky trip to Saudi Arabia this summer, his top aides thought they had struck a secret deal to boost oil production through the end of the year — an arrangement that could have helped justify breaking a campaign pledge to shun the kingdom and its crown prince. […]

Summers Warns on Deficit ‘Doom Loop’ Risk, Oil Price Spike

“That would be a real mistake” to conclude that other countries wouldn’t end up confronting similar challenges, Summers told Bloomberg Television’s “Wall Street Week” with David Westin. The first lesson from the UK is “that things can change extraordinarily fast.” Governments need to pay increasing attention to their budgets, with mounting deficits alongside surging borrowing […]

Biden announces release of 15 million more barrels from oil reserve

On Wednesday, President Joe Biden announced that 15 million more barrels of oil will be released from the Strategic Petroleum Reserve in order to combat rising gas prices. This move is a part of Biden’s plan announced in March to release 180 million barrels in 2022.\ Tune in as I deliver remarks on additional actions […]

A paradigm shift is on the way

Politics is in bad odour, not just here but also in most other parts of the world where more and more people are coming to the conclusion that its practitioners are only interested in their own personal welfare. This may be unfair; many really do want “to make a difference,” by which they mean a […]

Is the Energy Transition Taking Off—or Hitting a Wall?

With the Inflation Reduction Act, the federal government is illogically encouraging the increasing use of fossil fuels—in order to reduce our reliance on fossil fuels. The passage of the Inflation Reduction Act (IRA) constitutes the boldest climate action so far by the American federal government. It offers tax rebates to buyers of electric cars, solar panels, heat […]

Time to get rid of the “Green Transition”

Global liberal elites love slogans, especially if they signal virtue while avoiding or discouraging critical thinking. At the beginning of the millennium globalists used the term “globalisation” in this way. It suggested an inevitable process which no-one could resist, and which could not be reversed. The losers in globalisation were victims of unavoidable progress rather […]

Russian Gas Stops Flowing To Italy After ‘Problem’ In Austria

Russian energy giant Gazprom PJSC suspended natural gas deliveries to Eni SpA, Italy’s largest oil company, on Saturday, reported Bloomberg. “Gazprom informed that it is not able to confirm the gas volumes requested for today, stating that it’s not possible to supply gas through Austria. Therefore, today’s Russian gas supplies to Eni through the Tarvisio entry […]

Kunstler: Slouching Toward Endgame

“There is a dark craving for rot… as if decay were an escape from the limits, the oppressive fears and the pains of an individual existence.” — Eric Hoffer Breugel’s prophetic depiction of mid 21st century daily life in Euroland   Since “Joe Biden” flat-out promised last February to “bring an end to the Nord […]

Biden Raids Oil Reserves As Some Decry Energy Vulnerability

President Joe Biden began dipping into the Strategic Petroleum Reserve last year to curb historically inflated gasoline prices. Now that gas prices are no longer historically high, the U.S. reserve is at historic lows. That’s the result of the president playing politics, critics say. “The intent was to use SPR as a tool of energy […]

Cyprus wants EU exemption from energy cutback

Cyprus is gearing up to request an exemption from EU measures that would call on member states to reduce their energy demand as well as cap company profits from Russian oil. According to the Cyprus News Agency, government sources on the island said Nicosia would request to be exempted from measures concerning the mandatory reduction […]

Venezuela arrests brother of ex oil czar in corruption probe

Venezuela has thrown back in prison the brother of the country’s former oil czar as part of an ongoing investigation into a multi-billion dollar embezzlement scheme at the state-run oil company. Fidel Ramirez was arrested last Wednesday after failing to appear in court as required by the terms of his bail, Venezuela’s Attorney General Tarek […]

Putin Has Squandered Soviet Energy Legacy

This is part two of a condensed and lightly edited transcript of an interview with Soviet and Russian energy specialist Thane Gustafson. In part one, he described the evolution of the Russian energy industry under President Vladimir Putin until the eve of the war in Ukraine. Part two picks up with him describing the impact of […]

Biden Team Weighs New Oil Release

Officials within President Joe Biden’s administration are hunting for ways to head off a feared spike in oil prices later this year, including the possibility of an additional release from the nation’s emergency crude reserves. The officials are warning of an increase in prices this December when EU sanctions on Russian supplies take effect, unless […]

New UK Prime Minister To Freeze Energy Bill Prices For Two Years

Prime Minister Liz Truss has set out decisive action to support people and businesses with their energy bills and tackle the root causes of the issues in the UK energy market through increased supply – ensuring the country is not left in the same position again. Under new plans, a typical UK household will pay […]

Europe Looks Set for Energy Rationing After Russian Gas Cut

Energy rationing in Europe this winter is starting to look all but inevitable. German officials on Saturday insisted that security of supply was guaranteed, at least for now, after Russia’s Gazprom PJSC made a last-minute decision not to turn the crucial Nord Stream pipeline back on after maintenance. Storage is filling up and new sources […]

EU Commission plans emergency powers

The European Commission is seeking emergency powers to intervene in the production of certain goods in critical situations, Germany’s Frankfurter Allgemeine Zeitung (FAZ) newspaper reported, citing a draft of the proposal. The EU executive has been looking at how to avoid the supply bottlenecks that accompanied the coronavirus pandemic and no longer wants to rely […]

U.S. Strategic Petroleum Reserve Hits Lowest Level Since 1985

The U.S. Strategic Petroleum Reserve (SPR) hit historic lows this week as President Joe Biden continues to order a record release of barrels from the emergency stockpile. The SPR now sits at around 453 million barrels – the lowest level in 37 years. For perspective, the U.S. Energy Information Administration estimates that in 2021, the United States consumed an […]

Kunstler: The Meaning of Incredible

We’re witnessing the destruction of every institution in the land and nobody knows how to stop it….   The CDC seems to think nobody will notice its crimes, and the crimes of its sister agencies, FDA, NIAID, NIH, (and the White House Task Force) if it strolls jauntily into the fall season whistling a happy […]

WEF Advisor: We Don’t Need Majority of World Population

We don’t have to speculate about the fate the globalists envision for those they deem disposable: They’re telling us openly. In a recent interview, World Economic Forum (WEF) advisor and Israeli-born homosexual Yuval Noah Harari made the bold statement that “We just don’t need the vast majority of the population” in light of technologies that […]

Kunstler: Playing Chicken with the Fates

…The Senate is scheduled to be in recess August 6 to September 6 for politicking back home. Maybe after that Senator Grassley will actually produce his whistleblowers in open session…. Who is surprised that the US government’s war on the American people is not going any better than its sponsored war in Ukraine? The only […]

Russia And China Announce “New Global Reserve Currency”

If you’ve blinked over the last month, you may have missed it… China and Russia are taking their shot at the U.S. dollar. And as often happens with consequential news in the United States and the West, no one seems to notice or even care. Since the beginning of the year, I have been writing […]

Is President Biden About to Cripple Big Oil?

With the stroke of a pen, President Biden could single-handedly gut the U.S. oil industry. And some believe that’s what he’s about to do. After Sen. Joe Manchin announced he wouldn’t vote for a bill that addresses climate change, environmentalists, scientists, and policy leaders are calling for the president to declare a climate change national […]

Tehran ‘capable of building nuclear bomb’

Tehran is technically capable of making a nuclear bomb but has yet to decide whether to build it, a senior adviser to Iran’s Supreme Leader Ali Khamenei told Al Jazeera’s Arabic service on Sunday. Tehran will also directly respond against Israel should its security be targeted, the report says citing the advisor. “In a few […]

Biden’s Saudi visit aims to balance rights, oil, security

President Joe Biden met Friday with Saudi Crown Prince Mohammed bin Salman, the man he once pledged to shun for human rights violations, and shared a cordial fist bump as he tried to reset an important diplomatic relationship, bolster Mideast security and increase the global flow of oil. It was the first encounter for the […]

Millions Of Barrels From US Emergency Oil Reserve Sent Abroad, Including To China

With a growing number of people realizing that the Biden administration has drained more oil from the US strategic petroleum reserve, which is meant to be used during real emergencies not fake, made up ones such as Democrats facing a catastrophic failure at the midterm elections… … more people are starting to ask the next […]

Bezos Slams Biden Over Call for Lowering of Gas Prices

Amazon.com Inc. founder Jeff Bezos criticized a tweet from US President Joe Biden calling for oil executives to reduce gasoline prices. Bezos was responding to Biden’s criticism of companies running gas stations and setting prices for consumers. “This is a time of war and global peril,” the president tweeted on Saturday. “Bring down the price […]

Kunstler: A Great Endeavor

This birthday of the republic we are on track to going medieval, or something that at least rhymes with it….   Lil Miss Hot Mess, author and performer   I wish I had a time machine. I would teleport a small delegation of Ben Franklin, Tom Jefferson, and Button Gwinnett from their sweltering labors at […]

Why we must nationalize Big Oil

During the financial crisis in 2008, the federal government protected the economy by bailing out companies it considered “too big to fail.” Normally, the government protects the economy from companies that are too big to exist. Companies that prevent competition by dominating an industry are called monopolies. The Justice Department or Federal Trade Commission use […]

The People vs. Petrocracy

The United States is moving fast on climate change—in the wrong direction. The Energy Information Agency forecasts that by 2023, the nation will set a new annual record for oil extraction: 4.6 billion barrels. Plans to build more than 200 new natural gas power plants are in the works. More than 130 new oil and gas pipelines now under […]

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LATEST NEWS HEADLINES

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• Kunstler: A Theory of the Game
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