Fukushima Nuclear Fuel Leaking Into Groundwater, Tepco Says Barrier Too Expensive, Will Hurt Stock Price

Japan is reporting that Fukushima nuclear fuel has burned through the containment vessel and is sitting on the concrete foundation of the plant leaking into the groundwater. TEPCO says an underground barrier needed to stop the molten lava from spreading in groundwater will cost too much money and will hurt their stock price. Hiroaki Koide, […]

IEA aiding oil production gap

Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. This concept is based on the observed production rates of individual oil wells, and the combined production rate of a field of related oil wells. The aggregate production rate […]

Roubini: Black swan events and the global economy

Despite the series of low-probability, high-impact events that have hit the global economy in 2011, financial markets continued to rise happily until a month or so ago. The year began with rising food, oil, and commodity prices, giving rise to the specter of high inflation. Then massive turmoil erupted in the Middle East, further ratcheting […]

DOE Announces Details Of Strategic Petroleum Reserve Firesale

Following the earlier general announcement that the SPR would sell 30 MM barrels of oil a lot of questions were left unanswered, such as what kind of crude will be sold, where will it be sold from, and at what price. The wait for answers is now over: The DOE has just released all the […]

Argentina: A Case Study in How An Economy Collapses

“When you ask any Argentinean person what concerns them the most, the first thing they’re going to be telling you is the crime problem. And the second one is the financial problem. Those are by far the top concerns the average Argentinean person has and I think that eventually it will happen in the U.S.A., […]

Ecological reality is not what you hypothesize

A Review of The Wealth of Nature: Economics as if Survival Mattered Today, the main content of politics is economics, and the main content of economics is technology. If politics cannot be left to the experts, neither can economics and technology. –E. F. Schumacher, Small is Beautiful It’s important to get out of doors In […]

IEA To Release 60 Million Barrels Over Coming Months, To Ensure Supply Due To Libya

The much anticipated, and expected, IEA report is here. IEA SAYS TO RELEASE STOCKS IEA SAYS TO RELEASE 60 MILLION BARRELS OVER COMING MONTHS IEA SAYS TO RELEASE STOCKS TO ENSURE SUPPLY DUE TO LIBYA IEA SAYS MEASURE TO ALLEVIATE LIBYA UNREST, IMPACT ON SUPPLY IEA SAYS 132 MILLION BARRELS LOST TO LIBYA IEA SAYS […]

Earthquake measuring 6.7 hits Japan

A magnitude-6.7 earthquake shook northeast Japan on Thursday morning, but there were no immediate reports of damage or injuries. The quake struck around 2151 GMT off the coast of Iwate Prefecture, around 500 kilometers northeast of Tokyo, according to the Japan Meteorological Agency. The temblor registered a lower 5 on the Japanese intensity scale in […]

Learning from the Community of the Land

A word to the wise: let a chicken be your guide. Photo: Will Merydith via Flickr. While recently shoveling aged horse manure around berry vines on my small organic farm to fertilize them, which gives me great pleasure, I thought about what I have learned about the community of the land by farming over the […]

EIA analysis: demand heads back up

US refined oil product demand climbed 231,000 barrels per day (b/d) to 19.037 million b/d the week ending June 17, but overall, product stocks increased on higher refiner output, an analysis of US Energy Information Administration (EIA) data showed Wednesday. This analysis and commentary is provided by Linda Rafield, Platts senior oil analyst and editor […]

Transocean blames BP

A bad cement job and BP’s failure to appreciate the risks of its operations were key to the deadly blowout on the Deepwater Horizon drilling rig in April 2010, according to a report issued Wednesday by rig owner Transocean. The accident, which killed 11 workers and led to the largest oil spill in the U.S. […]

Highlights of BP’s 2011 Statistical Review of World Energy

Global Energy Growth BP recently released their highly respected annual Statistical Review of World Energy for 2011. Most of the news stories on the report have focused on the exceptionally strong growth in global energy consumption. While that is without a doubt a major story that I will discuss here, I also want to highlight […]

China’s Oil Demand Up 8% YOY

China’s apparent oil demand in May reached 39.4 million metric tons (mt) or an average of 9.31 million barrels per day (b/d), which was 8% higher year on year, as state-owned enterprises continued to increase output to meet local market supply needs, according to a Platts analysis based on recent statistics released by the Chinese […]

One Village Envisions a Post-Oil Food System

Image credit: Transition Forest Row We’ve already seen one British village aiming to go 100% solar. And we’ve seen one British farm trying to plan for agriculture after peak oil. Now here’s a neat video about a community that is trying to plan for a post-peak oil food system on the village scale—and they are […]

Gasoline Gangsters Episode 25: Peak Gold & Peak Oil

Many people know about peak oil but how about peak gold? In this episode I explore global gold production information from the US Geological Survey and notice that gold production appears to peak every 30 years but continues to increase about a decade later. Is there a lag between price and production? Is 2001 the […]

Peak Oil – the clear and present danger

Global oil production (crude oil plus condensate) has been on a plateau / in decline for 7 years resulting in high energy prices that are feeding inflation, eroding family budgets and crippling the World economy. It is time for the international political community to awaken to the risks posed by Peak Oil. A British Government […]

Director Nicole Torre on “Houston We Have a Problem”

“Houston We Have a Problem” steps inside the US oil industry to hear the truth about oil, straight from the hearts of Texas oilmen themselves. Decades of American presidents have warned against dependence on foreign oil and US energy policy has always been a strategy of defense, not offense. Today, we’re in the midst of […]

Saudi Arabia Is Probably Producing More Oil, IEA’s Fyfe Says

Saudi Arabia, the world’s largest oil exporter, is probably boosting its output of the commodity, according to the International Energy Agency. “There are indications that Saudi production is increasing,” David Fyfe, head of the IEA’s oil industry and markets division, told reporters in Washington today. “At the same time, it takes time for that oil […]

The Death of Demand – The Post-Consumer Debt Economy

Keynesians claim more debt will goose “demand;” they’re wrong. Boosting debt has distorted the economy for 40 years, and the end-game is finally approaching. Keynesians are constantly demanding more debt be taken on to spark “demand” for more stuff. What if debt-fueled demand is dead, expired of natural causes? If so, then the Keynesians are […]

To Import Less Oil, U.S. Must Export More Gas

Facing a supply glut, in recent years natural gas drillers like Chespeake Energy, EOG Resources and SandRidge Energy have all shifted investment dollars away from gas in favor of higher-priced oil. That’s spurred a boom in new oil plays like the Bakken of North Dakota and the Eagle Ford shale of south Texas. As a […]

Fukushima: Strontium levels up to 240 times over legal limit near plant, uninhabitable land area now the size of 17 Manhattans

Representing the first time the substance has been detected at the crippled plant, the Tokyo Electric Power Company (TEPCO) reported on Sunday that seawater and groundwater samples taken near the ravaged Fukushima Daiichi nuclear power facility in Japan have tested positive for radioactive strontium. And according to a recent report in The Japan Times, levels […]

Huge Marine Drill Confirms US Ground Invasion of Libya

CNN is a notorious focal point for Pentagon psyops. In 2000, the Pentagon confirmed that psyops personnel, soldiers and officers, have worked in the CNN headquarters in Atlanta. In February of that year, Dutch journalist, Abe de Vries, reported on the presence of U.S. Army personnel at CNN for the Dutch daily newspaper Trouw. Obama […]

Reflections on two days with Stoneleigh

When an international peak oil celebrity comes through Totnes, Rob Hopkins often posts a brilliantly insightful interview with carefully crafted questions and thoughtful interchanges. Last week, Nicole Foss (pen name “Stoneleigh”) came through Los Angeles.  Rather than sitting down for an hour or so of focused interview like it sounds Hopkins does, ours was a […]

Anti-austerity protests spread across Europe

Anti-austerity rallies have been held across Europe – in Spain thousands marched to protest against high unemployment and their government’s handling of the economic crisis. It was the first major demonstration since the end of the so-called ‘Indignant’ (Indignados) campaign in which Madrid’s central square was occupied by activists for several weeks. One protester said […]

Ugo Bardi, Modeling depletion: from Hubbert to System Dynamics

Modeling depletion – from Hubbert to System Dynamics. Ugo Bardi. Professor at the University of Florence, President of ASPO-Italy PDF presentation: http://www.congresopicodepetroleo.unedbarbastro.es/presentaciones/UgoBardiPre…

Dmitry Orlov: The Road Ahead for Community Action

I just attended a workshop in Falmouth, Massachusetts organized by Community Action associations of Southern New England titled “The Road Head for Community Action: Helping People in Turbulent Times.” (Clearly, trying to integrate poor people into a global economy that is collapsing before our eyes is not such a good idea, so I stressed relocalization […]

Oil Free by 2020

Could the United States ditch its dependence on foreign oil by 2020? No way, not with the leadership we have, and the never-ending, me-first haggling of both major parties. Hubris, self interest, reelection posturing, and financial self-interest all enter in. It is enough to make one sick. If not America, where then? The answer is […]

US heading toward nuclear disaster

With busted seals, broken nozzles and rusted pipes plaguing America’s nuclear power plants, a report released by The Associated Press today warns that the US is in danger of copycatting the catastrophe that ravaged the Fukushima facility in Japan. After a yearlong investigation, the AP has concluded that many of the nation’s facilities are still […]

Ocean heading for mass extinction

Scientists are warning of a potential marine massacre with a mass extinction of sea life akin to the death of the dinosaurs. A new report says the seas are battling pollutants, overfishing and warming, and warns that without swift action the fight to save species could be lost. The International Program on the State of […]

It’s the End of the World As We Know It

If one had predicted the collapse of capitalism a few short years ago, one would have been marked as either a communist or else clinically insane, perhaps a bit of both. Today, the act of reading capitalism’s last rights is a kind of ticket-of-entry into “serious debate” about the economy, even for the system’s ex-partisans. […]

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