After leaving the US in rage, sealing the deal by writing his Burning Bridge article, Mike was forced to face the possibility that he’d made a mistake. Owning up to mistakes was not new to him. AA had taught him that to do so was honorable so he apologized more frequently and fully than most people, whether for an editorial inaccuracy […]
Unconventional resources’ rapid growth in North America has grabbed the attention of exploration and production companies both stateside and globally, with many diversifying their portfolio between conventional exploration programs and unconventional resource projects. However, as the enthusiasm for onshore shale play increases, the debate of how the industry should best allocate their capital seems to […]
UBS Wealth Management Regional CIO, Asia-Pacific Pu Yonghao discusses the latest violence in Ukraine, its impact on investors and Portugal’s exit from the EU bailout program with John Dawson, Andrew Davis, Mia Saini and Rishaad Salamat on Bloomberg Television’s “Asia Edge.”
There isn’t a lot of good news about fracking lately. Another train with volatile fracked crude oil from North Dakota’s Bakken Shale exploded in Lynchburg, Virginia igniting a ball of fire on the surface of the James River. Accidents involving these “bomb trains” are becoming commonplace. So are recent studies indicating serious health risks from […]
International nuclear inspectors will visit two sites in Iran in the coming days, the country’s official news agency reported Sunday, as an official said that would fulfill a series of demands made by the United Nations nuclear watchdog. The demands by the International Atomic Energy Agency, which Iran was required to meet by May 15, […]
In this informal paper, I conduct Hubbert Linearization exercises on the world’s 11 topoil producers as well as the rest of the world. The results are used to project the world oilproduction in the future. The evidence presented in this exercise suggests that the world oil production may peakin 2018 or a few years later. […]
In the ongoing battle of wits, Russia and the West are out – oiling their energy arsenals – to achieve strategic objectives. In this rather crowded geopolitical chess board, with both sides bent upon using their energy assets, who is going to have the last hurrah remains a big if. The West seems to be […]
What has the US State Department been doing in Ukraine? It has been busy, and has succeeded in pushing the hapless nation, left destitute by 22 years of freedom and democracy oligarchy, to the brink of civil war. (Keep in mind, Russia came close to collapsing altogether by just nine years of freedom and democracy […]
Colorado’s intensifying oil and gas boom is taking a toll on soil — 200 gallons spilled per day seeping into once-fertile ground — that experts say could be ruinous. The state’s approach has been to try to compel companies to excavate and haul the worst muck to landfills. But with support from state regulators, oil […]
Here’s a puzzle: The U.S. is producing the most crude oil in decades, domestic stockpiles are at record highs, yet oil prices are near $100 barrel. What’s keeping prices aloft? The first piece of the puzzle is the way the U.S. prices its oil. The U.S. benchmark, known as West Texas Intermediate, or WTI, is […]
News of Mike’s flight to Venezuela had become public in August, with Carolyn Baker’s description of the days leading up to his departure. That, along with Michael Kane’s account of the same period, makes interesting reading in light of Mike’s final exit on April 13 of this year. Since the blog had been assuming a […]
Solar may be a small portion of energy production globally but the importance in geo-politics continues to grow. All energy usage may be local, when a homeowner plugs in their cell phone charge into the wall but when it comes to energy production, it is anything but local. Looking at the recent trouble in […]
Whether to allow more exports of U.S. oil and natural gas has become a matter of political debate in Washington. But to economists, the answer is clear: The nation would benefit. The vast majority of economists surveyed this month by The Associated Press say lifting restrictions on exports of oil and natural gas would help […]
The Kremlin said yesterday it was receiving “thousands” of pleas for help from Ukraine, warning that it could not control pro-Russian separatists in the country and now required help to resolve the worsening violence. As Russian troops continued to conduct exercises near the Ukrainian border and the US Secretary of State, John Kerry, demanded the […]
Given that shale oil production is, in fact, currently doing the most to meet growing oil demand, any shale oil ‘bust’ is likely to have significant implications for an already-strained oil market. [1] While there’s some (strained) logic to the efforts of fossil fuel industry officials and their spokespeople to do nothing but offer the […]
When we think about futurism, often we imagine cutting-edge technologies like bionic arms or weather machines for colonizing Mars. But if we really want to make it for another few centuries, we’re going to need something that Iran has already got. To understand Iran’s breakthrough, we need to go back in time to 1993, when […]
Cobalt International says find may be largest ever off the coast of the OPEC member. Early results from a program off the coast of Angola show there may be as much as 700 million barrels of oil in the region, Cobalt International Energy said.Cobalt, through a partnership with national and international energy companies, released results […]
If Putin needed a pretext to finally drive across the Ukraine border, he got it today following first the death of nearly 40 pro-Russian protesters in Odessa during a confrontation between pro-Russia and pro-Kiev forces, and then, what appears to be a storming in progress right now by the Ukraine national guard of yet another […]
Twenty-five years ago this month, the Hennessy Gas Utility Index Fund (GASFX) was established by the American Gas Association’s Finance Committee. During the past 25 years, GASFX has seen significant growth from $25 million in assets to $1.5 billion. Earnings per share and dividend returns have historically been between 3 and 5 percent and are […]
Environmental apostles are only too ready to tell us what is wrong with society. But they go mum over the subject of people — specifically, too many people. Doug Struck Author Alan Weisman. One need not drill very far into any given assault on the environment to find an explanation in the world’s hurtling population. […]
We need to transition the community away from fossil fuels! This is a message we hear often today, too often according to some. But still, it seems to progress slowly. Climate negotiations stalled in Copenhagen and since then not much has happened on the scene of world politics. People generally seem not interested enough to […]
Not much new data to report this past week but I did try to hammer out a few things of interest. The EIA released their Crude Oil Production report for the US and individual states with data through February 2014. I combined Montana and North Dakota to show their production. Their combined production was 1,027 […]
Expand This tent could one day be your home. It will provide you with shelter from the elements, food, energy, and purified water. Meet the Urban Algae Canopy — perfect for all your environmental apocalypse needs. Expand This prototype is the brainchild of Italian design firm Carlo Ratti Associati, and were previewed during last month’s […]
Since 2008, U.S. oil consumption has declined by more than 20 percent, giving peak-oil theorists their confirmation — world crude oil production is decreasing. And no matter how much U.S. production increases, everyone will feel the squeeze in the face of rising international oil prices. It is really hard to argue against this. After all, […]
If you took away all the oil and natural gas we use day to day, our lives would look vastly different. From taking hot showers to driving to work, oil dependence is real. In 2013 alone the total liquid fuel consumption in the U.S. rose by 400 billion barrels per day. In 1987 California hit […]
A couple of months back I noted that the U.S. was burning through the stocks of natural gas we store in underground caverns at an unprecedented rate. These are the stocks that provide a buffer so that when the 50 percent of us that heat with natural gas turn on our furnaces each fall there […]
The reason Mike felt impelled to confess the burundanga episode had to do with an event that had taken place back home. FTW subscribers used to get news updates on a daily basis, if memory serves. One afternoon we opened the email to find a long account, supposedly from Mike, describing his […]
The military response to remove pro-Russian separatists from government buildings in Slavyansk has prompted fears of retaliation from Russia. From Russia Today: The Ukrainian army has begun a special operation against pro-autonomy activists in the eastern town of Slavyansk. The city is now blockaded by the Ukrainian military, with 20 helicopters reportedly deployed to crack down […]
[I]f crude oil had not peaked and the price of oil remained at around $25 per barrel, the US would be spending around $1.5 billion less per day on oil, or $543 billion less per year. Most importantly, however, the US would be spending almost $600 million less per day on oil imports, or $216 […]
Any country that joins the single European currency immediately gives up control of its monetary policy and its exchange rate. With exchange rate risk seemingly removed, interest rates in many of the countries deemed previously to be of higher risk such as Portugal, Italy, Ireland, Greece, and Spain (PIIGS), fell significantly and foreign investment inflows […]
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