Nigeria: Before the oil runs dry

Following the steady decline in oil prices, we deem it fit to revise this report as the arguments herein still remain germane to the need for Nigeria to urgently address its dependence on oil revenues. This report was originally released in December 2010, following the approval for an increase in Nigeria’s minimum wage and its […]

Saudis won’t cut oil production unless US, Russia also cut production

Saudi Arabia’s influential royal Prince Turki al-Faisal al-Saud has said the kingdom would only consider cutting oil production if Iran, Russia and the US agreed to match those cuts because it wants to protect its market share. Speaking in London, the Prince who is a senior Saudi royal and the former head of the country’s […]

For Anyone That Still Believes Collapsing Oil Prices Are Good For The Economy

Are much lower oil prices good news for the U.S. economy?  Only if you like collapsing capital expenditures, rising unemployment and a potential financial implosion on Wall Street.  Yes, lower gasoline prices are good news for the middle class.  I certainly would rather pay two dollars for a gallon of gas than four dollars.  But […]

Exxon: Oil will account for 32% of world energy by 2040

North America, once a sponge that sucked in a significant portion of the world’s oil, will instead be supplying the world with oil and other liquid hydrocarbons by the end of this decade, according to ExxonMobil’s annual long-term energy forecast. And the “almost unspeakable” amount of natural gas found in recent years in the US […]

China: Turning away from the dollar

When an economic theme goes global, Hollywood is never far behind. In the futuristic thriller Looper, retired hit man Bruce Willis travels back in time from the year 2074. Upon meeting his younger self, he advises him to stop learning French and instead head to China. In the future, Shanghai is the centre of the […]

US Government Cuts 2015 Domestic Oil Production Forecast

The U.S. government on Tuesday cut its forecast for domestic oil production growth in 2015 by about 100,000 barrels per day and trimmed its forecast for global oil demand growth next year by 240,000 bpd. The U.S. Energy Information Administration now expects U.S. production next year to rise by 720,000 bpd to around 9.3 million […]

OPEC oil production: still swinging on Libya

Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 30.01 million barrels per day (b/d) in November, down 290,000 b/d from October, and down for a second consecutive month as Libyan production went into reverse after several months of steady gains, according to the latest Platts survey of OPEC and oil industry […]

Exxon forecasts abundance of oil, gas

North America, once a sponge that sucked in a significant portion of the world’s oil, will instead be supplying the world with oil and other liquid hydrocarbons by the end of this decade, according to ExxonMobil‘s annual long-term energy forecast. And the “almost unspeakable” amount of natural gas found in recent years in the U.S. and […]

Norway’s Oil Decline Accelerating

New oil projects are being scrapped in Norway amid falling production and low oil prices.  Long held up as the model for managing oil abundance, Norway has painstakingly sought to prevent the problems that occur with other natural resource-based economies, such as corruption, slow economic growth, currency appreciation, and subsequently, deindustrialization.  Since 1990, Norway has […]

The OPEC Conundrum: Expect Production Cuts Before June 2015

When OPEC met on 27th November they decided to leave production unchanged and to not meet again until June 2015. This at a time of volatility in oil markets and plunging price that leaves many OPEC member states facing budget deficits, some large and unmanageable. In this post I take a look at the oil […]

Big Oil hits the brakes on shale spending

With oil prices in free fall, the fear is that hunting for new shale in the U.S. may just not be that profitable. ConocoPhillips(COP) became the first major U.S. oil company on Monday to reveal that it is slashing spending for 2015. There are expectations that more energy companies will follow. Oil prices have dropped […]

Will this country be the next oil domino?

Nigeria started 2014 as a darling of investors seeking opportunities in ever more far-flung frontiers, but now the African economy could take a body blow from the oil price decline. “In a country plagued by deep regional and religious divisions, oil revenue is literally the glue that binds the fractious elites together,” RBC Capital said […]

How I Learned To Stop Worrying And Love The Collapse Of The Oil Market

Summary Diversify for safety and control risk. Energy provides positive diversification benefits. Take what the market gives you. The downturn in oil prices has led to much discussion about investment implications, particularly within the Energy sector. As I write, 70% of Seeking Alpha’s Top Articles are focused on the Energy sector. Possibilities discussed range from […]

Population Growth: Does it Spell the End for Planet Earth?

    There are more than seven billion people living on planet Earth and current population growth graphs estimate that the population will reach 10 billion by the end of this century. But can the population continue to grow at such a rate and allow the planet and its vital resources to survive? We already […]

Orlov: Defeat is Victory

On the wall of George Orwell’s Ministry of Truth from his novel 1984 there were three slogans: WAR IS PEACE FREEDOM IS SLAVERY IGNORANCE IS STRENGTH It occurred to me that these apply just a little bit too well to the way the Washington, DC establishment operates. War certainly is peace: just look at how […]

The worst possible world?

That the world is an evil place seems self-evident to many people.  They demonstrate it by simply pointing to the latest headlines of war, crime, disaster, racism, and worsening test scores. Pundits warn us ominously that America is running higeldy pigeldy down the road to Hell. But is this negative perception, fueled by endless news […]

Ten Reasons Why a Severe Drop in Oil Prices is a Problem

Not long ago, I wrote Ten Reasons Why High Oil Prices are a Problem. If high oil prices can be a problem, how can low oil prices also be a problem? In particular, how can the steep drop in oil prices we have recently been experiencing also be a problem? Let me explain some of […]

Supply or Demand? Richard Heinberg and James Hamilton

Richard Heinberg, senior fellow at The Post Carbon Institute, tells Erin how this particular boom bust cycle – with a tremendous surge in US domestic oil pro. Our lead story: This week Stanford said that it would divest all of its investments in coal-mining companies, becoming the wealthiest US university to pledge. Recorded February 25th, […]

Study Finds Toxins, Cancer-Causing Air Pollution at Oil, Gas Wells

A cadre of citizens taking air samples for a scientific study has found toxic emissions from Wyoming oil and gas operations, some that are many, many of times above federal health standards. In a six-state study published in Environmental Health, authors say the Wyoming samples show high concentrations of benzene, hydrogen sulfide, formaldehyde and more. […]

OPEC shows U.S. oil producers who’s boss

To paraphrase Mark Twain: Rumors of OPEC’s demise have been greatly exaggerated. Breathless coverage of the rise in U.S. oil production in the last few years has led some to declare that OPEC’s power in the oil market is now becoming irrelevant as America supposedly moves toward energy independence. This coverage, however, has obscured the […]

The EIA’s World Oil Production Numbers

The EIA has recently published their International Energy Statistics. Their stats include all liquids such as NGLs, biofuels and even refinery process gain. But I only track actual oil. The EIA does not track “Crude Only” so we are forced to track what they do track which is Crude + Condensate. The EIA is about […]

The Case for $35 a Barrel Oil

Oil prices have plunged by $40 a barrel since late June, to about $66 last week. Some say the selloff is overdone, but Steve Briese, writer and publisher of the Bullish Review of Commodity Insiders, says crude’s decline is only three-fifths completed. Briese (pronounced “breezy”), whose bearish view of oil helped inform our March 31 […]

Economic warfare the main Western weapon

In the last few days it became clear that economic warfare is the main weapon used by the Transnational Elite, (TE- i.e. the network of the elites based mainly in the G7 countries which run the New World Order of neoliberal globalization), to subordinate Russia and integrate every other country still resisting the process, e.g. […]

Low oil prices won’t slow Texas

Gas is cheap, jobs are plentiful and the economy is rolling. This is why we love the free market. In the last six months, the price of oil has fallen 36 percent, shaking producers, energy investors and some governments. Such steep drops used to be bad news, usually a signal of global recession. This time, […]

Do we need a 250-mile natural gas pipeline?

While the debate on Kinder Morgan’s proposed 250-mile natural gas pipeline will continue to rage on, I keep scratching my head trying to understand exactly why it is a good idea in the first place. To be sure, there is a ready answer from the utility industry — the pipeline is needed to move enough […]

Ferguson Redux

In this sedition a special report on the rebellions that have been rocking Turtle Island in the wake of the “no indictment” of racist cop Darren Wilson for his murder of black teen Mike Brown in Ferguson Missouri. Also a very special interview with subMedia.tv’s Franklin López

There Are A Hundred Flashing Red Warning Signs Coming From The Environment

Following up on the previous chapter focusing on human-caused resource depletion, the other disheartening part of the story of the environment concerns the things we humans put back into it, and the impact they have on the ecosystems that support all of life — ours included. Like the economy, ecosystems are complex systems.  That means […]

It’s official: America is now No. 2

Hang on to your hats, America. And throw away that big, fat styrofoam finger while you’re about it. There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest […]

How Low Can Oil Prices Go?

The price of oil in global markets has plunged by nearly 40 percent over the past six months. As a result, the price of a gallon of regular gasoline in the U.S. has dropped from an average of $3.68 in June to $2.74 this week. In June, the U.S. Energy Information Administration had projected that […]

Why the World Missed the Oil Price Crash

On Feb. 1, 2011, oil prices rose above $100 a barrel. For the next three years, they largely stayed there, with few of the dramatic ups and downs that oil markets are famous for. So when prices began falling slowly in June of this year, most industry experts shrugged. Hundred-dollar oil was here to stay, […]

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