The Link Between Peak Oil and Peak Debt – Part 2

In Part 1 of this post, I pointed out that an economy is closely linked with the resources that underly it. Because of this, if there is really is a limit that prevents oil supply from rising endlessly, then there is also a limit that prevents debt from rising endlessly. I talked about seeing a […]

Saudi oil output hits 9.7m barrels a day

Saudi Arabia raised its oil production by 700,000 barrels per day to reach 9.7m b/d last month as the kingdom took unilateral action to meet higher demand for crude, according to the International Energy Agency. The monthly oil market report, released on Wednesday, provides the first hard evidence of Saudi Arabia’s response to Opec’s failure […]

Global Oil Supply up in June

Both the IEA and OPEC have now released figures for total liquid fuel supply in June (see above), and both show a sharp increase, mainly due to OPEC, particularly Saudi Arabia.  However, levels have still not reached those prior to the loss of Libyan production in February/March (still less returned to the pre-Libya trend). Here’s […]

Motorists driving less, but gas prices keep rising

(AP) — Gasoline prices are rising again even though drivers in the U.S. have bought less gas for four months in a row. Oil, which is used to make gasoline, is higher as well. On Tuesday. Benchmark West Texas Intermediate crude for August delivery gained $2.28, or 2.4 percent, to settle at $97.43 per barrel […]

GrowthBusters Documentary to Premiere in October

The much anticipated documentary, GrowthBusters: Hooked on Growth, from filmmaker Dave Gardner, has announced plans for a world premiere in Washington DC in late October – most likely October 24 or 25. This film explores our culture’s obsession with unending economic growth, our avoidance of the overpopulation topic, and – in many cases – our […]

Oil markets face production shortfall in second half

The International Energy Agency may not have a solution but no one can accuse them of no longer understanding the gravity of the problem. In their June report, the IEA warned that unless OPEC could increase production by at least 1.5 million barrels a day, world oil demand is going to surpass available supply during […]

Factional fighting brings Yemen unrest nearer Saudi

Factional fighting in Yemen’s north entered its fifth day on Tuesday, bringing violence closer to the border with Saudi Arabia, while the United States’ top counter-terrorism official visited Sanaa. Twenty-three people have been killed and dozens injured in the northern province of Jawf since clashes broke out on Friday between members of Yemen’s main opposition […]

Family Planning: It’s Time to Welcome Men Into the Discussion

Yesterday, on World Population Day, the United Nations Population Fund officially launched 7 Billion Actions — a campaign to raise awareness and action around our planet’s growing population, which is set to reach 7 billion later this year. The campaign is a wake-up call to the health, environmental, and social challenges associated with rapid population […]

Iraq signs initial deal to tap natural gas

Royal Dutch Shell PLC and Japan’s Mitsubishi Corp. have signed an initial deal with Iraq to tap natural gas in the country’s south, an oil executive said Tuesday, the latest push to develop Iraq’s energy sector battered by years of neglect and war. The deal, which Iraqi officials have said is worth between $12 billion […]

During April, The People In Seattle Could Have Just As Easily Been In Tokyo For The Amount Of Hot Particles That Were There

Nuclear expert Arnie Gundersen said recently: During April, the people in Seattle could have just as easily been in Tokyo for the amount of hot particles that were there. (For background on “hot particles”, see this and this.) Of course, radiation monitoring in Seattle may be kept secret. As that Washington Department of Health notes […]

OPEC: Fragile global economy means lower demand for 2012

Members of the Organization of Petroleum Exporting Countries said a fragile global economy is likely to hold the rise in oil demand to 1.32 million b/d in 2012, about 3% lower than this year. “World oil demand is forecast to grow by 1.36 million b/d in 2011, slightly lower than in the previous report, as […]

Phasing Out High Risk Nuclear Power: The Real Alternatives

This is a multi-part investigation of the cutting-edge clean alternative energy sources available to replace the dangerous, polluting technologies of the past. This installment covers three heavy hitters of crucial importance to the future of the world’s energy supplies: solar, geothermal heat mining and wind power. PART 1: CONCENTRATED SOLAR POWER It turns out that […]

The Last Drops: How to Bridge the Gap Between Oil and Green Energy

Oil Economy Oil threatens the environment, destabilizes nation, and is in dwindling supply. It also provides 35 percent of the power we use on Earth. Oil won’t run our world forever, but as we make the transition to a greener economy, it will need to run it for at least another few decades. For all […]

Egyptian gas pipeline to supplying gas to Israel blown up again

The pipeline serves 40 per cent of Israel’s gas consumption. Gunmen have blown up a terminal of the Egyptian natural gas pipeline that supplies Israel and Jordan in a predawn attack, Egyptian state television reports. The explosion occurred east of El-Arish, a city in Egypt’s Sinai Peninsula, located about 50km west of the Israeli border, the […]

15 companies buy crude from US strategic petroleum reserve

Traders, oil refiners and a pipeline operator are among the 15 companies buying 30.6 million barrels of crude from the United States’ emergency stockpiles, the Energy Department announced Monday. The government signed 28 contracts to sell the oil at prices ranging from $104.97 to $109.26 per barrel. Barclays Bank nabbed the lowest price in the […]

Saudi Oil Production Up 450kbd in June

At least according to the OPEC MOMR out this morning.  Well, well, well – maybe we really are going to see 10mbd in July, notwithstanding my increasing scepticism.  Or then again, who knows? The graph above shows five different estimates of Saudi oil production (left scale) with the average being the heavy black line.  The […]

Inflation vs Deflation what’s going on?

As the UK’s consumer price index fell to 4.2% this month due to price drops in games, toys and hobbies, as well as for clothing and footwear we seem to be observing an interesting economic environment. Whilst prices for food and energy are shooting up (necessities for sustaining life) The prices for non life sustaining items are dropping […]

Radiation Coverups Confirmed: Los Alamos, Fort Calhoun, Fukushima, TSA

A series of disasters, potential disasters, bad news and worrying studies over the course of the past week have brought public attention back to the issue of radiation and its attendant health risks, and further exposed how governmental agencies that are supposed to protect the public have in fact knowingly put the public at risk […]

Peak Oil: Getting Off Oil – A 50-State Roadmap for Curbing Our Dependence on Petroleum

America’s dependence on oil inflicts a heavy toll on our environment. There are many technologies and policy tools, however, that can curb America’s dependence on oil. By taking strong action to cut down on energy waste and shift to cleaner sources of energy, America could re- duce its consumption of oil for energy by 1.9 […]

Heinberg: Petroleum Propaganda 101 Develop vs Deplete

The following POP QUIZ is brought to you in part by the American Petroleum Institute: Which sounds better? A) The Obama administration should be doing more to develop U.S. oil-and-gas reserves. Or, B) The Obama administration should be doing more to deplete U.S. oil-and-gas reserves. If you answered “A” give yourself a pat on the […]

Petrodollars: putting aside oil money for a rainy day

With some states seeing a flood of revenues from higher prices and new streams of energy, some of them are looking at the Alaska model of creating a permanent fund to benefit residents. In this week’s Platts Oilgram News Petrodollars column, Starr Spencer looks at the plans being hatched in West Virginia and North Dakota. […]

Bangladesh: Our population problem

WORLD Population Day was observed yesterday around the globe on the theme of “World at 7 billion” as the world is set to reach this number by the end of October of this year. Bangladesh, too, observed the day, but amidst major population control concerns. Lack of clarity seems to be a key characteristic of […]

Iran: Will Spend $18B on O&G Fields in South through 2015

Iran will invest $18 billion in the development of its oil and gas fields in the hydrocarbon-rich south of the country in a 5-year development plan ending 2015, its deputy oil minister in charge of planning was quoted as saying Sunday. The remarks comes as Iran is moving forward with projects to develop its oil […]

Iran: OPEC opposes any increase in output

The Organization of Petroleum Exporting Countries is opposed to any increase in output ceilings in the absence of “well-studied justifications,” according to Iran’s caretaker oil minister. “Iran’s policy as head of OPEC is to maintain the production ceiling of this organization,” said Mohammad Aliabadi, adding, “It is an issue which a majority of OPEC members […]

The Transition Movement – Preparing for a World After Peak Oil

How will the world function if fossil fuels become scarcer and their consumption becomes increasingly regulated to fight climate change? How will people live with less oil? What will communities be like? The advocates of a social movement called Transition think the world is now entering just such an environment of oil-scarcity. Transition organizers think […]

US Oil Consumption

The above graph shows US weekly petroleum products supplied (EIA) along with a nine week centered moving average to try to smooth out the noise a bit.  Data begin in 2000 and go through the week of July 1st 2011.  You can see that the high prices since the beginning of 2011 were causing a […]

Phosphate: A Critical Resource Misused and Now Running Low

If you wanted to really mess with the world’s food production, a good place to start would be Bou Craa, located in the desert miles from anywhere in the Western Sahara. They don’t grow much here, but Bou Craa is a mine containing one of the world’s largest reserves of phosphate rock. Most of us, […]

The Link Between Peak Oil and Peak Debt

There is really a two-way link between peak oil and peak debt: 1. Peak oil tends to cause peak debt. Some will argue with me about this, because they believe it is possible to decouple economic growth from energy growth, and in particular oil growth. As far as I am concerned, though, this decoupling is […]

Countdown to $100 oil – a date with history?

On two past occasions, the average annual oil price has hit $100 per barrel and this has been followed by recession. At time of writing (7th July) the annual average for Brent was $95.4, on course to breach $100 some time in September. Will history repeat itself? Or has the global economy grown immune to […]

How Seawater Can Power the World

DEBATE about America’s energy supply is heating up: gas prices are rising, ethanol is under attack and nuclear power continues to struggle in the shadow of the Fukushima disaster in Japan. But an abundant, safe and clean energy source once thought to be the stuff of science fiction is closer than many realize: nuclear fusion. […]

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