Saudi Arabia Adds Half a Bakken to Oil Market in a Month

Saudi Arabia boosted crude production to the highest in three decades in March, with a surge equal to half the daily output of the Bakken formation in North Dakota. The kingdom boosted daily crude output by 658,800 barrels in March to an average of 10.294 million, according to data the country communicated to the Organization […]

Half Yemeni population is going hungry as violence worsens

Worsening violence in Yemen has made almost half the country’s population “food insecure”, with flour shortages, closed shops and disrupted supply routes driving up food prices, the United Nations World Food Programme (WFP) said on Thursday. The agency says someone is food insecure if they lack “all-time access to sufficient, safe, nutritious food to maintain […]

OPEC Oil Output Surge Boosts Surplus

OPEC said its oil output surged in March, adding to a global glut, despite more evidence that the producer group’s strategy of letting prices fall to hurt other producers is taking effect. OPEC’s report may reinforce the perception that major producers are staking out market share ahead of a potential rise in Iranian exports following […]

Thermodynamic Geoengineereing: The Fourth Way

Geoengineering is the deliberate and large-scale intervention in the Earth’s climatic system with the aim of reducing global warming. It is most often thought of in terms of carbon dioxide removal or solar radiation management but a third approach using the cooling of ocean surface waters and the surrounding atmosphere with cold water brought up […]

Yergin Sees Prices Locked in ‘W’ Formation

Oil historian and economist Daniel Yergin has a forecast for where the price of crude is headed: all over the place. The much debated shape of the oil-price curve will take the form of a W as crude is whipsawed by mixed signs from a rattled U.S. shale boom, while Saudi Arabia refuses to balance […]

Oil Exporters Are Dumping US Assets At A Record Pace

 Back in November we chronicled the (quiet) death of the Petrodollar, the system that has buttressed USD hegemony for decades by ensuring that oil producers recycled their dollar proceeds into still more USD assets creating a very convenient (if your printing press mints dollars) self-fulfilling prophecy that has effectively underwritten the dollar’s reserve status in […]

The Bottom of the Food Chain Is Experiencing a Catastrophic Collapse

A 1,000 Mile Stretch Of The Pacific Ocean Has Heated Up Several Degrees And Scientists Don’t Know Why According to two University of Washington scientific research papers that were recently released, a 1,000 mile stretch of the Pacific Ocean has warmed up by several degrees, and nobody seems to know why this is happening.  This […]

Global Oil Supply And Demand

Summary The global oil supply/demand balance is improving. The recent IEA report likely underestimates demand. Supply is abundant and the s&d balance is loose, but armageddon is not coming. Global Oil Supply And Demand Early 2015 Review The International Energy Agency recently published its Oil Market Report. In this, it highlights and examines recent global […]

North Dakota Oil, Gas Production Declines Continue

For the first time in more than four years, oil/natural gas production in North Dakota’s Bakken Shale play declined for two consecutive months, but the state’s chief regulator said Tuesday he expects things to turn around when June statistics are released. In the meantime, further monthly declines of 1-2% are expected. In the latest report […]

Why Nuclear Power Is All but Dead in the U.S.

The Obama administration supported a bill yesterday, April 14, that would give Congress a chance to review a nuclear power agreement with Iran, if the two countries clinch a deal before their June 30 deadline. In other words, if the diplomatic hurdles are surmounted, nuclear power may have a smoother ride in Iran than in the U.S. “No question,” said Judd Gregg, the former […]

Canada, India Sign Uranium-Supply Deal

Canada and India have inked a $350 million uranium supply deal that will see Saskatchewan-based Cameco Corp. (TSE:CCO) (NYSE:CCJ), the world’s largest publicly traded uranium miner, provide fuel for Indian reactors. The deal formally ends a long-dragged dispute that began after New Delhi used Canadian technology to develop a nuclear bomb in the 1970s. As […]

Iran’s Tantalizing Oil Prize

Iran contains some of the largest and most attractive petroleum resources in the world, so any easing of sanctions could have a major impact on oil and gas markets in the second half of the decade. Iran’s possible re-emergence as a major exporter would force a re-ordering of the world oil market both because of […]

Putting the Real Story of Energy and the Economy Together

What is the real story of energy and the economy? We hear two predominant energy stories. One is the story economists tell: The economy can grow forever; energy shortages will have no impact on the economy. We can simply substitute other forms of energy, or do without. Another version of the energy and the economy […]

Has The U.S. Reached “Peak Oil” At Current Price Levels?

Last night the EIA once again capitulated on the myth that rig counts don’t matter and the productivity of wells would largely offset, leaving the industry on a continuous path to higher output. The current consensus of 500,000 B/D additional growth in 2015 US production now appears very much at risk. Look how far we […]

From Firewood To Fracking – 250 Years Of Energy Sources

 With EIA forecasting $250/bbl crude oil in the next 20 years, one wonders how long before ‘muscle’ or ‘firewood’ returns as the world’s major energy source?     zerohedge

World’s population to grow by 1.1 billion

The United Nations has said that the world’s population is expected to grow from 7.3 billion to 8.4 billion between 2015 and 2030 and called for integrating population issues into the post-2015 development agenda. The information was learned from the 48th session of the UN Commission on Population and Development that opened with a focus […]

What Would You Do if Restaurants and Your Local Grocery Store Closed Tomorrow?

If all the supermarkets and restaurants in your neighborhood closed their doors tomorrow, would you know how to source your next meal? Would you be able to survive in a world without a local grocery store or eatery? While the thought of losing your local market may seem extreme, hundreds of thousands of people around […]

Saudis Ready To Help Improve Oil Prices

Saudi Arabia’s oil minister Ali al-Naimi said on Tuesday that the kingdom stood ready to “improve” prices but only if other producers outside of OPEC joined the effort. Naimi said Saudi Arabia had pumped around 10.3 million barrels per day (bpd) in March, marking an increase from previous months. He did not say why output […]

Volcanic eruption could end the world

Mankind is grossly unprepared for a catastrophic volcanic eruption that could kill hundreds of millions of people and cast the world back into a “pre-civilisation state”, academics have warned. The chance of a devastating eruption happening by the end of this century was estimated to be as high as one in ten in a report […]

US to become a net exporter of natural gas by 2017

The United States will transition from a net importer of natural gas to a net exporter of the fuel by 2017 as the nation’s shale gas production continues to grow, the U.S. Energy Information Administration said on Tuesday in its Annual Energy Outlook. In its 2014 outlook, the EIA forecast the U.S. would become a […]

The Peak Oil Crisis: Have We Reached the Peak

Events never play out the way one expects. It is now over ten years since the modern concept of peak oil arose among the rapid oil price increases that took place in the mid-2000’s. Instead of an oil shortage that many expected we would be seeing by now, the world is in the midst of […]

One Last Look At The Real Economy Before It Implodes

In the first three installments of this series, we examined the realities behind supply and demand, unemployment and personal debt, and national debt. As has been proven in each consecutive article with ample evidence, mainstream establishment numbers are, for the most part, utter garbage. They are not legitimate. They are meaningless. The figures and stats […]

Saudi Arabia rejects Iran’s calls for ceasefire in Yemen conflict

Riyadh has called on Iran not to interfere in the conflict in Yemen after Tehran repeatedly called for end to the Saudi-led airstrike campaign against embattled Yemen. “How can Iran call for us to stop the fighting in Yemen? … We came to Yemen to help the legitimate authority, and Iran is not in charge […]

Canada’s economy is a disaster from low oil prices

Low oil prices are threatening the health of Canada’s oil and gas sector, which in turn, is causing turmoil in Canada’s economy as a whole. The fall in oil prices is forcing billions of dollars in spending reductions for Canada’s oil and gas industry. In February, Royal Dutch Shell (RDSA) shelved plans for a tar […]

Maryland Passes Fracking Ban

Today, the Maryland House of Delegates passed legislation, voting 102 – 34, that would prohibit fracking permits in the state until October 2017. The bill will head to Republican Gov. Larry Hogan’s desk in the coming days. After months of campaigning, a bill that prohibits fracking for two and a half years passed overwhelmingly in […]

Peak Oil: Familiar Patterns

When you read the literature and compare the arguments as laid out by the two sides, the Peak Oil argument is characterized by logic, rigor, data and hard science – just like the global warming argument a few years back – and the opposing side is characterized by, well, by unbounded faith that markets always […]

Health Impacts of Shale – “Not A Single Case”

Dr. Theodore Them will be on WBNF tonight to discuss his rebuttal of Howard Zucker’s infamous health report – the one used to gut the Southern Tier’s future. Many NaturalGasNOW readers know Vic Furman and I do a radio show on WBNF Radion 1290 in Binghamton from time to time on behalf of the Joint […]

Oil Bulls Boost Wagers

Speculators increased bullish oil bets by the most in more than four years, wagering that the U.S. production boom is slowing. Hedge funds boosted net-long positions on West Texas Intermediate crude by 30 percent in the seven days ended April 7, the biggest jump since October 2010, U.S. Commodity Futures Trading Commission data show. Long […]

The Spherical Sun Power Generator

German Architect Andre Broessel believes he has a solution that can “squeeze more juice out of the sun”, even during the night hours and in low-light regions. His company Rawlemon has created a spherical sun power generator prototype called the beta.ray. His technology will combine spherical geometry principles with a dual axis tracking system, allowing […]

John Michael Greer: The God Of Technological Progress May Well Be Dead

As we often state here at Peak Prosperity, the narratives we hold are immensely important. The stories running our heads influence everything from our beliefs to our values to our actions. Which is why it’s so dangerous when a society clings onto a narrative that is no longer serving it well, a narrative divorced from […]

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