The Coming Crash: Our Addiction to Endless Growth on a Finite Planet

If you want to understand how much energy costs, don’t look at your electric bill; instead get a copy of the new book Energy: Overdevelopment and the Delusion of Endless Growth. This massive coffee table book contains hundreds of arresting images showing the effects of our energy choices, including oil spills, nuclear accidents, massive solar arrays, […]

Peak demand theory shakes up oil debate

Peak oil was a major area of debate in the energy market in the early 2000s. Now peak oil theory is back, although from a dramatically different point of view: rather than the peak in supply, discussions focus on the possibility of a peak in demand. “The substitution of natural gas for oil combined with […]

North Dakota’s Reckless Oil Boom

My great-great-grandfather Theodore Roosevelt has the accurate reputation of being one of our country’s greatest conservationists. Images of TR embracing the great American outdoors by roping cattle on his ranch, hunting buffalo on the plains, and standing next to the Grand Canyon are just as ubiquitous in American history as the images of him working […]

Orlov: The Untrustworthy and the Trustful

[This is an excerpt from The Five Stages of Collapse which seems quite topical given the new banking rules being set down in Europe and the US, according to which your bank deposits will no longer be guaranteed. With the precedent being set in Cyprus, bank deposits are being turned into unsecured loans, and when […]

Saudi Arabia’s Al-Naimi Sees Demand Holding Strong in Asia

Saudi Arabian Oil Minister Ali al- Naimi said demand for crude will hold strong from Asian buyers as the U.S. produces more of its own fuel. “The expectations of energy demand and growth are still positive,” al-Naimi said today in a speech in Doha, Qatar, carried by official Saudi Press Agency. “I was in Hong […]

The Great Disconnect – Markets Vs. Economyr

Last week I was swamped with interviews, both radio and television, to discuss the meaning of the markets hitting new all-time highs.  The general consensus of the analysts and economists that I was pitted against was that the rise in capital markets, given weak current economic data and a resurgence of the Eurozone crisis, is […]

Iran: 2013 will be ‘fall of American empire’

The “American empire” will fall this year, the head of Iran’s Basij forces claimed Sunday, a message that was approved by the Islamic regime’s supreme leader. “America should not think that with some diplomatic dialogue it can solve its dossier (problem) with the nation of Iran,” Brig. Gen. Mohammad Reza Naghdi said. “The path of […]

How Is the World Price of Oil Determined?

I used to be an oil trader a while ago (trading mainly in oil ETFs/funds). It is one of the most stressful experiences, as oil prices change throughout the day. I used to wake up in the middle of the night to see how Singapore and Tokyo are closing and how London is opening. There […]

Qatar Finds First Natural Gas Deposit in 42 Years, Minister Says

Qatar, the emirate with the third- largest global reserves of natural gas, found a deposit with 2.5 trillion cubic feet of the fuel, its first discovery since uncovering the world’s biggest gas field 42 years ago. State-run Qatar Petroleum, Wintershall AG and Mitsui & Co (8031) plan to develop the reservoir in a 544 square-kilometer […]

New EIA Data Reveal U.S. Coal Use Rising Again

New data from the U.S. Energy Information Administration (EIA) reveals a troubling trend: Coal-fired power generation—and its associated greenhouse gas emissions—were on the rise as 2012 came to an end. According to the data, which was released yesterday, natural gas prices have risen significantly since April of 2012, prompting a rise in coal-fired electric generation […]

The Sequester and Oil Prices

Well, March arrived with ‘the sequester,’ didn’t it? As you heard, on March 1, ‘the sequester’ swung into action with President Barack Obama signing an order to bump away $85 billion from the budget of Government agencies between March 1 and October 1, 2013. If there lurked some hope of a different budget plan with […]

Kunstler: Are You Going To Entropy Faire?

Things are breaking loose. Holes have appeared in the fabric of fraud and lies that passes for the world money system. They are black holes, gravitationally sucking in the things breaking loose, and as these things cross their event horizons, they will never be seen again. These things I speak of are the collateral for […]

Peak Oil Is So Yesterday-Say Hello to Peak Demand

Peak oil—the theory that fossil fuel demand will, at some point in the unspecified future peak, outstrip supply and send prices spiking—has now given way to a new concept: peak demand. Last week, Citigroup commodity analysts floated the novel idea that the U.S. energy resurgence could mean that demand for oil “may be topping out […]

Reasons Mexico’s Oil Production Has Stagnated

Mexico´s crude production peaked at 3.455 Mbopd in 2004 and has already declined to 2.568 Mbopd, (Feb 28, 2013). I believe it will not be possible to return to former production levels, nor even to the present official forecast of 3 million barrels per day, because of the following reasons: The giant and supergiant oil reservoirs, like Cantarell, […]

Ugo Bardi: Peak eggs debunked

Today, a press release from the egg industry commented on the traditional egg hunt of this year’s Easter, denying that “peak eggs” took place last year. “Eggs are still abundant,” maintains the industry’s press release, “and the new technology of egg fracking is creating a “new age of eggs” that will last decades”. The press […]

Fossil and Nuclear Fuels – the Supply,Outlook – from Energy Watch Group

Since 1998 when the oil geologists Colin Campbell and Jean Laherrère published a widely discussed survey article “The End of Cheap Oil” in the journal “Scientific American”, the concept of peak oil and the present state of oil depletion are part of any serious analysis of the future oil supply potential. However, recently various publications […]

Peak Oil: Another Ride On The Denial Train

Last week, I ran a couple of posts (here and here) about an especially-egregious example of the Cornucopians’ magical world of energy abundance (with its by-now obligatory preference to trip lightly over anything other than a few cherry-picked and out-of-context facts). I’ve already had my say on that article’s most glaring offense: the particularly shameful/shameless […]

Benoit Thevard – Europe facing peak oil – European Parliament

Benoît Thevard presents the conclusion of the report “Europe facing peak oil” at the European Parliament in November 2012. This study, commissioned by the MEP Yves Cochet, aimed to clearly redefine the contours of the oil situation, to place them in the current geopolitical and economic contexts, and to consider the potential impact on Europe. […]

Economics, fiscal competitiveness eyed for Canada, US tight oil plays

This report provides an assessment of the economics and fiscal competitiveness of the major tight oil plays in North America with a focus on Canada. Including fiscal competitiveness as part of the economics assessment is important because, while the costs of drilling in a given jurisdiction may be the same or higher, the fiscal costs […]

The Great Shale Oil Swindle

Recent headlines in the US press about the coming economic boom heralded by the shale gas revolution would lead you to think we are literally swimming in oil. A spate of reports last year, in particular the International Energy Agency’s (IEA)World Energy Outlook (WEO) in November 2012, forecast that the US will outstrip Saudi Arabia as the […]

Is Fukushima Radiation Causing the Epidemic of Dead and Starving Sea Lions In California?

  Painting by Jonathan Raddatz   Associated Press reports: At island rookeries off the Southern California coast, 45 percent of the pups born in June have died, said Sharon Melin, a wildlife biologist for the National Marine Fisheries Service based in Seattle. Normally, less than one-third of the pups would die.   It’s gotten so […]

China-Australia to Ditch US Dollar

A month ago we pointed out that as a result of Australia’s unprecedented reliance on China as a target export market, accounting for nearly 30% of all Australian exports (with the flipside being just as true, as Australia now is the fifth-biggest source of Chinese imports), the two countries may as well be joined at […]

Israel Begins Pumping Natural Gas From Offshore Field

Israel moved closer to its goal of energy independence on Sunday as natural gas from a large offshore field began flowing into the country, a harbinger of important change that will benefit the country strategically and economically, officials said. “We are taking an important step toward energy independence,” Prime Minister Benjamin Netanyahu said in a […]

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