Peak Oil is You

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News from December 2013

IPR Strikes Major Gas Discovery in Egyptian Desert

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Texas independent oil & gas explorer IPR announced the discovery of a significant gas condensate field in its Alamein Concession located in the Western Desert of Egypt. IPR, operator of the Concession, pursued a new play concept for several years targeting the untapped Alam El-Bueib (AEB) formation in the Yidma-11X well. The discovery well, located […]

Orlov: Predictions for 2014

The calendar ticking over into the next year is a traditional occasion to draw some conclusions and make some predictions. Lots of people take this to mean that they should talk about where they think the stock market will go, or how much gold bullion will cost, or what the cost of oil will be. […]

Kunstler: The end of pretend

If being wealthy were the same as pretending to be wealthy, then people who care about reality would have a little less to complain about. But pretending is a poor way for a society to negotiate its way through history. It makes for accumulating distortions which eventually undermine the society’s ability to function, especially when […]

Why Saudi Arabia and the US don’t see eye to eye in the Middle East

Give credit to Vladimir Putin and his New York Times op-ed on Syria for sparking a new tactic for foreign leaders hoping to influence American public opinion. In recent weeks, Saudi Arabian political elites have followed Putin’s lead, using American outlets to express their distaste with the West’s foreign policy, particularly with regard to Syria […]

Agriculture Land Shrinking in China

Growing population, industrialization and rapid economic growth are putting unprecedented pressure on China’s agriculture resources, and have become a threat to food security in the country and the world. According to China’s national land survey figures released recently, total arable land in the country stood at around 135.4 million hectares at the end of 2012. […]

IEA Forecasts Sustained Energy Growth, But No ‘Era of Oil Abundance’

The IEA’s latest long-term forecasts highlights the growth of unconventional oil and gas, especially in North America, but does not see this leading to much lower oil prices. In their main scenario fossil fuels will still meet more than three-fourths of the world’s energy needs by 2035, despite significant growth in renewable energy. The International Energy Agency (IEA) released […]

Massive Fireball From North Dakota Oil Train Derailment Caught On Tape

*NO INJURIES REPORTED FROM BNSF TRAIN FIRE IN NORTH DAKOTA Wind is taking toxic smoke towards areas southeast of Casselton, ND, after train derailment. Residents urged to stay indoors A train has derailed west of Casselton, North Dakota just before 2:20 p.m. Monday. As Valley News Live reports, several area emergency teams are on scene […]

Cyprus: “On the Verge of Significant Energy Production”

In his introduction of Nicos Kouyialis, Minister for Natural Resources and Environment, Cyprus, panel moderator John Roberts characterized Cyprus as a country “on the verge of significant energy production,” an incredibly apt description, among others, at the 2nd Annual Frankfurt Gas Forum. “The discoveries of substantial quantities of natural gas open up new perspectives and […]

Daniel Yergin: The global impact of US shale

The emergence of shale gas and tight oil in the US demonstrates how innovation can change the balance of global economic and political power. Photo: Ty Wright/Bloomberg The biggest innovation in energy so far this century has been the development of shale gas and the associated resource known as tight oil. Shale energy ranks at […]

Few Americans understand fracking

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Fracking is a buzz word, but few Americans know what it actually means. That is the conclusion of a recent survey published by researchers at Oregon State, George Mason and Yale universities. More than half of the study’s 1,061 respondents reported knowing little or nothing of fracking. And almost 60 percent of those surveyed said […]

7 things everyone knows about energy that just ain’t so

Mark Twain once said, “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” And, there are many, many things that the public and policymakers know for sure about energy that just ain’t so. That list is very long indeed and getting longer as […]

US getting closer to energy independence?

US getting closer to energy independence? Daily oil production on track for biggest one-year jump

The New New Great Game: Geography, Energy, The Dollar And Gold

Sir Halford Mackinder’s 1904 speach in which he outlined his “Heartland Theory” was a founding moment for geo-politics. He argued that control of the Eurasian landmass (Europe, Asia and the Middle East), which contained the bulk of the world’s population and natural resources, was the major geo-political prize. As time passed, energy (first crude oil […]

China’s auto affair drives oil demand

Every two seconds, somewhere across China a customer takes delivery of a new car — part of a consumer buying blitz that will see China add 21 million new cars, trucks and buses to its fleet total in 2014.Short of a catastrophic economic downturn, a government edict against new car ownership, or draconian traffic congestion […]

talk of quota bargain at opec

In response to the aggressive outburst of Iranian Oil Minister Bijan Zangeneh in Vienna where he stressed that ‘Tehran would increase output, come what may’, other leading Organisation of the Petroleum Exporting Countries (Opec) members are beginning to take position apparently in preparation for the ultimate bargaining round. On the sidelines of the Opec ministerial […]

Global Cereal Crop Production May be Maxed Out on 30 Percent of Farms

Recent research conducted by the University of Nebraska suggests that nearly one-third of global rice, wheat and corn crops have reached their maximum yields in farmers’ fields. A field of unharvested wheat is seen in Labastide d’Armagnac village in Landes, southwestern France, Recent research conducted by the University of Nebraska suggests that nearly one-third of […]

Are natural gas suppliers purposely overproducing?

On December 27, 2013, Matt Wald published a piece in the New York Times titled New Energy Struggles on Its Way to Markets that points to the predictable consequences of having too many energy options chasing too few customers. When there is excess supply compared to demand, prices tend to fall rather dramatically. Falling prices […]

Saudis: ‘We have been stabbed in back by Obama’

Arabs don’t trust Obama either. As 2013 ends, President Obama has lost credibility with many people who trusted him at the start of the year. Thanks to the Healthcare.gov debacle, polls find support for the president among women and independents has dropped to the lowest ebb of his presidency. Obama’s words — promising Americans they […]

Is Petroleum Sucking the Life out of the Planet?

It was either a Freudian slip or a moment of rare political candour when Alberta’s Municipal Affairs Minister related to an audience on the other side of the country that oil and gas wealth is sucking the life out of everything else in Alberta. In defence of his pronouncement he told the legislature in which […]

Predictions for 2014: Energy is anything but conventional

With dramatic new sources of both supply and demand emerging across the globe, energy is poised to get even more unconventional in 2014. What’s next for oil, gas, and renewables? In energy, next year promises to be just as unconventional as the last. North America’s boom in unconventional oil and gas will continue to expand […]

Iran’s Oil-For-Cash Scheme

An unfolding corruption scandal in Turkey has uncovered transactions that may have allowed Tehran to circumvent harsh U.S. and E.U. sanctions—a revelation that could destabilize Obama’s nuclear deal and threaten the government of Prime Minister Erdogan. A massive unfolding corruption scandal in Turkey—which has already forced the resignations of three government ministers and threatens to […]

Peak demand: the sound of a single hand clapping

Speaking of “peak demand” about the present stasis in the world oil production is a little like the concept of “the sound of a single hand clapping” is an old Zen “koan.” This riddle has been solved by Bart Simpson in recent times. The concept of “peak demand” is gaining popularity in the discussion […]

China’s Dependency on natural gas imports rises

Nation seeks to reduce use of fossil fuels in move to improve air quality A vessel, loaded with more than 60,000 tons of imported LNG, docks at a port in Putian, Fujian province. China imports a growing amount of natural gas to meet domestic demand. In the first 10 months of 2013, the […]

The U.S. Monthly Energy Review

The US Monthly Energy Review is now up with all the US Oil and Gas data for November. US (estimated) Crude + Condensate production was 8,002 kb/d for November. I think that will be revised later because the Bakken had a bad month in November. The average, so far this year, has been 7,438 kb/d and […]

The Great Green Meltdown

Two weeks ago, four of the world’s most respected climate scientists took the extraordinary step of sending an open letter to their long-time friends and colleagues in the environmental movement, urging them to reverse their longstanding opposition to nuclear power. The scientists told AP and CNN they felt the need to make public their displeasure after years […]

China’s Interest in Thorium

Reuters is running a series titled Breakout: Inside China’s Military Buildout. Installment number 6 is titled The U.S. government lab behind Beijing’s nuclear power push. The title is misleading; it is not about China’s world-leading, multibillion-dollar program. That program includes 29 large commercial nuclear plants currently under construction. Instead, the article focuses on a $350 […]

Will Russia frack for oil?

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Shale oil is poised to go international, Grealy writes. It’s already happening in Argentina, Australia and China, but the big prize is in Russia’s Bazhenov shale in Western Siberia. One of my stranger speaker invitations recently was earlier this month in Moscow to an Adam Smith conference on Russia EOR (enhanced oil recovery), where I […]

Jeremy Jackson: Ocean Apocalypse

Evening Lecture | Jeremy Jackson: Ocean Apocalypse | January 7, 2013 What are the impacts of overfishing? (10:55) What if the world’s garbage, sewage and toxic waste had been piled up on land instead of dumped in the ocean? (17:40) Global Warming: Are the penguins and polar bears doomed? (28:22) How much will the sea […]

PatternDynamics: Following The Way Nature Organizes Itself to Deal with Complexity

The natural world is staggeringly complex, and yet amazingly elegant in how it manages the multitude of interconnected parts into organized, unified wholes that thrive. What is the secret for harnessing this elegance for use in human systems? Tim Winton found that observation of the most common patterns found in the natural world led to […]

Israeli fuel strategy leans on gas

Israel plans to cut oil use in transportation by 60 percent by 2025, an aggressive target by world standards, and will tap into its newfound natural gas deposits to make it happen. It is also investing heavily to help start-ups developing battery and biofuel technologies, and is offering an annual $1 million (R10.34 million) prize […]

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