Pickens: Without Iraq’s oil, prices could hit $200

If Iraq’s oil supply goes offline, crude prices could hit $150-$200 a barrel, T. Boone Pickens, founder of BP Capital Management, told CNBC on Friday. “That’s where you have to kill demand with price. That’s the only way you can do it, because oil won’t be there,” Pickens said in an interview with “Street Signs.” […]

Pentagon preparing for mass civil breakdown

Social science is being militarised to develop ‘operational tools’ to target peaceful activists and protest movements A US Department of Defense (DoD) research programme is funding universities to model the dynamics, risks and tipping points for large-scale civil unrest across the world, under the supervision of various US military agencies. The multi-million dollar programme is […]

The rare earth crisis: Is it a sign of things to come?

The crisis over the availability of rare earths seems to have receded, but is it a precursor for more troubles ahead? Rare earth elements are not typically found in economically exploitable deposits. The 1972 oil embargo left us with a keen perception of how vulnerable we are to interruptions in the supply of mineral resources. […]

This is what Peak Oil looks like

When they got you over barrel — what are you gonna do? You pull up, and you pay their latest price … petro, you gotta have it. Oil thirst rising as Iraq unrest boosts prices by Wendy Koch and Gary Strauss, USA TODAY — June 13, 2014 The turmoil in Iraq pushed up U.S. and […]

Oil prices aren’t coming down any time soon, and Iraq is just the latest reason

The upheaval in Iraq threatens to exacerbate a three-year-old trend in which unusual geopolitical disruptions have become the new normal. A key impact—high oil prices when analysts say bulging new supplies should be sending them far lower. + That is because much of the geopolitical turmoil has been in or involved oil-producing countries. “We are […]

OPEC Update and news from Iraq

The new OPEC Monthly Oil Market Report just came out with their Crude Only production numbers for May. All data in the OPEC charts are in thousands barrels per day. There was very little in production changes and no surprises in the May data. Total OPEC production was up 142,000 barrels per day and that was […]

Fresh Water, Growth, Degrowth, and the Steady State Economy

In Our Common Future, the 1987 report of the United Nations World Commission on Environment and Development, sustainable development is described as a process of change which meets the needs of the present generation without compromising the ability of future generations to meet their own needs and aspirations. To achieve this objective, the report suggests […]

Oil prices at nine-month highs amid Iraq violence

* Brent spikes over $113 on Iraq supply worries; US over $106 * Iraqi Kurds seize control of northern oil city Kirkuk * Insurgents surround Iraq’s largest refinery in Baiji (Updates prices at settlement)   Oil prices jumped to nine-month highs on Thursday, as concerns mounted that escalating violence in Iraq could disrupt oil supplies […]

U.N.’s Energy Funding Falls Short of Target by Billions

When the United Nations inaugurated the first-ever global forum on renewable energy last week, it provided a laundry list of financial pledges aimed at achieving one of the world body’s most ambitious goals: sustainable energy for all (SE4ALL) by 2030. The forum specifically focused on the developing world where one out of five people are […]

Earthweek: A Diary of the Planet

Longer Longevity The human population is now living longer in both rich and poor countries but a new United Nations report says there is a major rich-poor divide. Based on global averages, a girl who was born in 2012 can expect to live about 73 years while a boy should reach the age of 68. […]

Coal is out, natural gas is in

It’s pretty clear by now that the Environmental Protection Agency’s (EPA) carbon rules for power plants will hit the coal industry hard. But the big winner, it seems, will be natural gas. The EPA predicted in its regulatory analysis that by the time the rules fully take effect in 2030, natural gas will overtake coal […]

Mike Ruppert’s Story Part 48 SHTF

February 17, 2007 From Mike to his psychiatrist:    1. I have not gone for the blood levels yet. I will go Monday after fasting from 9 PM Sunday. Thursday night I was so upset over the stolen $10,000 I woke up at 3 AM and chugged about a pint of OJ and then realized what I […]

Why polar bears are doing better than you think

Last year Greenpeace campaigners in the UK paraded a giant polar bear puppet the size of a double-decker bus through the streets of Westminster to protest against planned drilling in the Arctic. This year the polar bears made it into the Houses of Parliament, as a Canadian professor told a meeting there Wednesday night that […]

Al Qaeda Insurgents Surround Iraq’s Largest Refinery

While there had been sporadic reports over the past few days that Al Qaeda’s ISIS spinoff had surrounded or even taken control of Iraq’s largest refinery in Baiji, the government was quick to deny such rumors. As was reported earlier, the Baiji refinery remained under government control on Thursday after Sunni rebels’ offensive through northern […]

Global Energy Demand Growth? Follow the Shovels in the Ground

A key indicator of global energy production and consumption growth is mega-project construction. Where are the world’s largest power plants, mining operations, oil & gas developments, utility-scale renewable energy projects or desalination plants being built? These mega-projects require a company to oversee the engineering, procurement and construction (EPC) aspects of the capital intensive investments. It’s […]

Canada lowers oil expectations

The Canadian Association of Petroleum Producers said 2014 estimates for oil production to 2030 are down more than 7 percent from the previous year. CAPP said oil sands are the primary source of production growth from Canadian reserves. Production from those deposits is expected to increase to 4.8 million barrels per day by 2030, down […]

Peak Oil Replaced by Oil Abundance

“Peak oil” has vanished from public discourse, replaced by news about the North American surge of unconventional petroleum liquids produced from oil sands, shales and tight formations. Unconventional oils, we read repeatedly, are a”game changer” that will render North America “energy independent,” will offset declining production elsewhere in the world, and will prevent oil prices […]

OPEC Keeps Output Level Below Second-Half Demand Forecast

“We don’t need to worry about anything, this is the best time for the market,” Ali al-Naimi, Saudi Arabia’s oil minister, told journalists in a briefing before the meeting began. “Everything is good, stable and everyone is happy.” OPEC, which supplies about 40 percent of the world’s crude, kept its production target unchanged in a […]

Europe’s Reliance on Gas Imports to Grow 50% by 2030

Paul McConnell Principal Analyst for Wood Mackenzie’s Global Trends Service explains: “Global energy markets are reaching a new equilibrium. As demand shifts East it will expand to extraordinary proportions, but this era is also one of robust energy supply. As a result, we see few, if any, strong upside signals for oil, gas and coal […]

IEA Investment Report – Stumbling on the Real Story

Recently, the IEA published  a “Special Report” called World Energy Investment Outlook. Lets’s start with things I agree with: 1. World needs $48 trillion in investment to meet its energy needs to 2035. This is certainly true, if we assume, as the IEA assumes, that world economic growth will actually improve a bit, from 3.3% per year in the 1990 […]

Insurgents take control of second major city in Iraq

Al-Qaeda-inspired militants have seized the northern Iraqi city of Tikrit — hometown of former leader Saddam Hussein — in a move that represents the second major advance this week for rebel forces in an escalating insurgency that has left the government on the defensive. Witnesses described hearing heavy gunfire Wednesday from different parts of the […]

China’s Record Oil Hoarding Seen Keeping Crude Above $100

China is hoarding crude at the fastest pace in at least a decade, shielding itself from supply disruptions and helping keep prices above $100 a barrel. The country imported a record volume in April as it emulates steps taken by the U.S. in the 1970s to create a strategic petroleum reserve, government data show. Chinese […]

Cheap Oil is Gone Forever

Sixty years ago, a man stood in front of a crowd that had gathered at a small hotel in San Antonio. Minutes before approaching the podium, however, he was quietly ushered off the stage to take an urgent phone call. On the other end of the line was a PR rep for one of the […]

Tech Talk – Optimism is becoming harder to sustain

For some time the nations of OPEC have been suggesting that demand for their oil will remain relatively stable in the near future, as increased production from the non-OPEC nations is expected to more than meet demand increases. Thus, for example, in the May Monthly Oil Market Report OPEC anticipates that global oil demand will […]

Dr. Morris Adelman And Peak Oil Theory

Several weeks ago, the US Energy USEG -2.63% Information Administration (EIA) made big news by severely reducing its estimate of recoverable oil from California’s huge Monterey Shale formation.  This change in calculation by some guys sitting at desks in Washington DC led to a very predictable series of misleading stories with sensationalized headlines like this […]

Officials fear melted reactor fuel is now exposed at Fukushima

Tepco: We don’t know at this point if fuel is uncovered — Large drop in water level — Experts ‘struggling’ to find condition of nuclear cores, nothing is known for all 3 reactors TEPCO: Water in reactor half expected level — Officials with the operator of the damaged Fukushima Daiichi nuclear plant say the water […]

Canadian Oil Producers’ Group Cuts Oil-Sands Production Forecast

A lobby group that represents Canada’s oil industry is still expecting the output from Canada’s oil patch to almost double over the next two decades, but the growth is a little lower than previously forecast. The Calgary-based Canadian Association of Petroleum Producers said in its annual forecast Monday it expects Canada to produce 6.4 million […]

OPEC Ministers Signal Output To Remain On Hold

OPEC oil ministers are signaling that the 12-nation cartel will keep its output target at 30 million barrels a day at their meeting Wednesday — even though demand could rise later this year. The International Energy Agency sees the world’s appetite for crude growing in months ahead. But many OPEC members are at production capacity […]

Militants Seize Second-Biggest City in Iraq

Iraqi army soldiers abandoned their weapons and fled the northern Iraqi city of Mosul on Tuesday, as Sunni militants freed hundreds of prisoners and seized military bases, police stations, banks and the provincial governor’s headquarters. The insurgent attacks were among the most audacious assaults on the Iraqi government since the American military withdrawal more than […]

There are not enough resources to support the world’s population

The world’s population is now well over seven billion and growing. We have reached a stage where the amount of resources needed to sustain our population exceeds what is available, argues Professor John Guillebaud from University College London.   Many years ago, as a second year medical student, I attended a lecture on human population […]

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