Shale gas sector gears up in China

Two months before the expected third round of bidding for shale gas exploration rights, a Chinese firm on Friday successfully tested extraction equipment. The equipment will operate in complex geographic conditions, according to the manufacturer, the Shenzhen-listed Yantai Jereh Oilfield Services Group Co Ltd, which is based in Yantai, Shandong province. “The machines can be […]

The Reordering Of The Global Oil And Gas Industry

The world is fascinated by lists and rankings. In the energy world there is a keen interest in knowing who may be the world’s largest producer of oil and gas as well as who might be the world’s largest importer of those fuels. For a long time, those rankings haven’t changed, but new leaders are […]

Why Do Saudis Want to Decline a United Nations Security Council Seat?

Today Saudi Arabia got itself elected as non-permanent member of the United Nations Security Council. It was the first time that Saudi Arabia gained this position and an experienced diplomat expected great Saudi influence: No doubt, it is a show of determination that the Saudi voice should be heard lest it is taken for granted […]

US Should Cancel Plutonium Plant, Say Scientists

“Rachel Oswald reports that the Union of Concerned Scientists, an independent science advocacy organization, says that the United States should cancel plans to build a multi-billion dollar plutonium research facility in New Mexico and criticizes Obama administration plans for nuclear facilities and weapons. They argue that the plans to build new fissile-material handling plants are […]

‘It Takes A Crisis’: How ’73 Embargo Fueled Change In U.S.

When Saudia Arabia cut off direct oil shipments to the U.S. 40 years ago, the country was thrown into shock. Calls for energy independence grew louder. The U.S. is now producing more of its own oil and natural gas than ever, but the commitment to efficiency has been uneven. Drivers and a man pushing a […]

New Chevy Will Run On Natural Gas And Gasoline

General Motors says the 2015 Chevy Impala will have a “bi-fuel” version that runs on both natural gas and gasoline. Natural gas has long been seen as a solid alternative fuel. But it’s not nearly as available as gasoline. “It’s very, very affordable, less than two dollars a gallon,” says Kelly Blue Book analyst Alec […]

9 Signs That China Is Making A Move Against The U.S. Dollar

On the global financial stage, China is playing chess while the U.S. is playing checkers, and the Chinese are now accelerating their long-term plan to dethrone the U.S. dollar.  You see, the truth is that China does not plan to allow the U.S. financial system to dominate the world indefinitely.  Right now, China is the […]

A 75-Million-Gallon Cellulosic Ethanol Plant In Italy

CREDIT: Beta Renewables The world’s first plant able to produce cellulosic biofuel at commercial scale using enzymatic conversion recently opened in Crescentino, Italy. When it’s fully up and running, the plant is expected to deliver 75 million liters (just shy of 20 million gallons) of ethanol to the European market. Admittedly, the “world’s first” title […]

Peak Moment TV Applying a Peak Oil Filter to Financial Choices

Peak Moment TV Applying a Peak Oil Filter to Financial Choices

Russia sees global advantage in oil

With U.S. oil exports restricted and the Middle East and North Africa in turmoil, it’s Russia that can ensure energy security, Rosneft said from South Korea. Igor Sechin, the chief executive officer at state-owned oil company Rosneft, said Russia is in a unique position to meet the world’s energy demands. He said U.S. steps to […]

U.S. to sell $10.8B in missiles, bombs to Saudi Arabia, UAE

The Pentagon said Thursday it planned to sell Washington’s Gulf allies Saudi Arabia and the United Arab Emirates $10.8 billion worth of missiles and munitions, including “bunker-buster” bombs. The move follows a series of U.S. weapons deals in recent years that have bolstered the air power and missile arsenals of Gulf states, which view Iran […]

India’s Coal Bubble

A few short years ago the assumption that coal demand was essentially endless in China and India was seen as irrefutable. Now this ‘coal consensus’ is breaking as analysts from Citi Bank to Bernstein predict a rapidly approaching peak in Chinese coal demand. But while the end of the Chinese coal bubble has generated headlines the […]

Ugo Bardi: The Legacy of the Club of Rome

  Here is a written version of the speech I gave at the meeting held in Bucharest in occasion of the 20th anniversary of the foundation of the Rumanian section of the Club of Rome (ARCoR), on Oct 17, 2013. It was a somewhat formal reunion, so my speech was a little more formal than […]

Declining Gas Prices Pump Up A Shaky Economy

In recent weeks, economists have been worrying about the negative impact of the now-ended government shutdown and potential debt crisis. But away from Capitol Hill, the economy has been getting a big boost: Gasoline prices have been declining, week after week. In some parts of the country, a gallon of unleaded regular gasoline is now […]

Peak Oil: A Splash of Cold Water

An observation worth noting … and pondering, from Steve LeVine: If Montana is a microcosm of the world, one message to glean is that we are not in the midst of a decades-long flood of oil supply in the United States, as many suggest. Instead, the red lights are blinking across the exuberant U.S. oil […]

Why I Stopped Worrying And Learned To Love The Currency Collapse

For the past 300 years, the historical pattern has been for the era marked by a century to continue into the following century by fourteen or fifteen years. Let me explain.  Everyone knows that the 19th Century, its uprightness, its optimism and sense of purpose, the halcyon days of British Empire, came to an end […]

Radioactivity level spikes 6,500 times at Fukushima well

Radioactivity levels in a well near a storage tank at the Fukushima nuclear power plant in Japan have risen immensely on Thursday, the plant’s operator has reported. Officials of the Tokyo Electric Power Company (TEPCO) said on Friday they detected 400,000 becquerels per liter of beta ray-emitting radioactive substances – including strontium – at the […]

What About The Elderly?

Traversing an environment built for the automobile in anything other than an automobile, sucks. Even if you can overcome the inhospitable nature of that, there are others that can not. That person may be your grandmother. When I started blog posting, one of the first topics I posted about were the many side-effects of automobile dependency. Today, I’m […]

Mi’kmaq Blockde

For over two weeks now, a coalition of people including local Mi’kmaq residents, and anglophone and Acadian settlers, have blockaded the road leading to an equipment compound leased to South Western Energy or SWN. SWN is a Texas based energy company, that has been attempting to conduct natural gas exploration in the area’s shale formations. […]

IEA: Rising Output, Energy Efficiency to Halve US Oil Imports by 2020

Rising oil and gas production and improving energy efficiency in the United States could slash its oil imports in half by the end of 2020 from levels seen two years ago, the West’s energy watchdog said on Wednesday. The Paris-based International Energy Agency (IEA) earlier this month said the United States would overtake Russia next […]

Land and Resource Scarcity: Capitalism, struggle and well-being in a world without fossil fuels

Land and resource scarcity: Capitalism, struggle and well-being in a world without fossil fuels Edited by Andreas Exner, Peter Fleissner, Lukas Kranzl and Werner Zittel Routledge. New York, 2013. This is a book that seems to be created above all for people who are active in social movements, but who are also uneasy about the […]

Robert Rapier: The Ice That Burns

A Kindred Spirit I have a very busy travel schedule this week, so this one is a little bit late and a bit rushed. Last week I had the pleasure of meeting Gal Luft, co-director of the Institute for the Analysis of Global Security (IAGS). It was a funny sort of meeting, because I didn’t […]

Mountaintop removal provides Appalachian coal to Europe

Photo: wsilver/Flickr. Mika Minio-Paluello, Anna Galkina and James Marriott are travelling in North America as part of a tour over September and October to promote The Oil Road – Journeys from the Caspian to the City of London. You can find more info about their confirmed speaking dates in Virginia, the Bay Area, Toronto, Baltimore […]

Bakken Oil Production by County

Bakken by county data can be found here: North Dakota Drilling and Production Statistics And the pertinent data can be found here: Oil and Gas Production Report Rune Likvern has been kind enough to post me the following two graphs and comments. Rune’s comments are in italics. Edit: At the bottom of this post I have just added […]

Russia Lets China in on East Siberia Oil Production

Russia’s top crude producer Rosneft has agreed to cede a share of its oil riches to China, the world’s top oil importer, signing a memorandum on Friday to jointly develop East Siberia deposits. Russia, the world’s top oil producer, has previously preferred to sign long-term supply deals with China backed by multi-billion-dollar loans. The Russian […]

Gail Tverberg: Two Views of Our Current Economic and Energy Crisis

As the US heads toward debt default and continues with government shutdown, the underlying reason for the predicament is generally not clear to the American people or the world. The story that the press has generally been feeding us places the problem as basically a temporary one, caused by conflicts between the Democrats and Republicans. […]

The Coming Food Stamp Riots

It may not happen this month, or even this year, but food stamp riots are coming to America.  In fact, we got a small preview of the coming food stamp riots this past weekend when a “temporary system failure” caused food stamp cards to stop working in 17 U.S. states.  Within hours, there were “mini-riots” […]

LOCK DOWN: Your Cash Is No Longer Your Own: “Everything Is Fine”

We hope you’re paying attention. Image: Chase Bank. If there were ever a red flag warning about the economic and financial destruction to come, JP Morgan Chase Bank began flying it this morning. In a shocking report from Infowars we learned that mega-behemoth Chase has issued letters to thousands of business customers indicating that they will no longer be […]

Russia, N.America invest billions to feed Asian oil, gas demand

* Mideast producers to free up more oil for exports * Russia ties up long term supply contracts with China, to start gas exports * Asia invests in U.S., Canada LNG; Canada to send more oil to Asia Fast-growing oil and gas producers Russia and North America are spending billions of dollars on pipelines and […]

The 1973 Arab Oil Embargo: The Old Rules No Longer Apply

On Dec. 23, 1973, cars formed a double line at a gas station in New York City. The Arab oil embargo caused gas shortages nationwide and shaped U.S. foreign policy to this day. Marty Lederhandler/AP Forty years ago this week, the U.S. was hit by an oil shock that reverberates until this day. Arab oil […]

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