Peak Oil is You

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News from July 2015

Saudi Arabia Racing to Move Beyond Oil Dependency

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Saudi Arabia relies on oil exports for around half its revenues, but as low oil prices raise the country’s deficit, non-oil economic growth has been slowing too. Bloomberg’s Willem Marx reports on efforts by some Saudis to diversify the Kingdom’s economy.

PEAK GOLD vs. PEAK SILVER

If you are a precious metals investor, you need to see this chart. Matter-a-fact, this is the first time (to my knowledge) in the history of precious metals analysis that the information in this chart has been made public. One look at this chart and the investor will see the the huge difference between the […]

Florida Leans More on Natural Gas than Renewable Energy

Natural gas is easily Florida’s main source of energy, offering up 1,300 Trillion Btu in 2014. Gas is 62% of Florida’s power generation, compared to 47% in 2008, when the “shale revolution” really took off. Florida is unique in that power generation accounts for nearly 90% of the state’s total natural gas demand, while the national […]

Texas Oil Production On Track To Break Record

Just about everyone knows that crude oil and natural gas production in Texas has been on the increase for several years. But the size of the increase – especially in crude oil production – has been lost until just a few days ago when economist Karr Ingham told a gathering of reporters in Houston that […]

New Currencies and their Relationship with Fiat Currency

Complementary Currencies aim to work alongside the pound or the dollar. Classically they seek to broker exchanges of underused resources with unfulfilled need, and facilitate activity in niches neglected by the mainstream economy. They do much good work and are worthy of support. Intentional Currency designs on the other hand will generally be grounded in […]

Oil Heads for Biggest Monthly Drop This Year

Oil headed for its biggest monthly drop this year on speculation that increased OPEC supplies and threats to demand in China will prolong a global glut. Futures slid as much as 2.4 percent in New York, extending their drop to 20 percent this month. U.S. crude stockpiles are almost 100 million barrels above the five-year […]

Lessons for the Degrowth Movement

Is degrowth only conceivable in the context of “oversaturated” industrial societies while the global “South” remains dependent on growth? In two installments, this article questions such assumptions. In this first part it introduces positions critical of development which refuse to adopt the Western model of prosperity; the second part will focus on the analysis of […]

“Bomb Iran” plan simply won’t go away

Even before the upcoming August recess on Capitol Hill, the dogs of war, unleashed by remote control from Tel Aviv, predictably are trying to tear the Iran-P5+1 nuclear deal to shreds from all sides. It does not matter that the National Iranian American Council – which happens to be widely respected in Washington itself – has […]

Saudi Arabia to Cut Oil Production After Summer

The world’s top crude-oil exporter, Saudi Arabia, is planning to pull back from record-high levels of production at the end of the summer when domestic energy demand subsides, according to people with knowledge of the matter. The reduction could begin as soon as September and would amount to about 200,000 to 300,000 barrels a day, […]

The Cimmerian Hypothesis, Part Three: The End of the Dream

Let’s take a moment to recap the argument of the last two posts here on The Archdruid Report before we follow it through to its conclusion. There are any number of ways to sort out the diversity of human social forms, but one significant division lies between those societies that don’t concentrate population, wealth, and […]

World’s population to reach 11.2 billion by end of the century

India is set to overtake China and become the world’s most populous country in less than a decade – six years sooner than previously forecast, the United Nations said on Wednesday. Fast-growing Nigeria is on course to outstrip the United States by about 2050 to become the country with the third largest population, the United […]

The New Politics of Oil Abundance

The oil-price shocks of the 1970s and ’80s marked the dawn of the modern era of United States energy policy. Presidents Nixon, Ford, and Carter all responded to those shocks by launching big programs that promised a rapid switch from oil to other energy sources. Every president since has pledged to chart a similar transition, […]

World’s population to hit 9.7 BILLION by 2050 as India becomes largest country

The number of people on earth is set to reach almost 10 BILLION by 2050, experts have said. The United Nations have revealed that estimates suggest the world’s population will be a staggering 9.7 billion and India will be the largest country. According to research, in just 35 years’ time it is predicted there will […]

Some U.S. senators want to start oil war with Iran

As Secretary of State John Kerry tried to sell the Iran nuclear deal to Congress Tuesday, some U.S. senators were ready to start an oil war with Iran. Republican Senator Lisa Murkowski is sponsoring a bill to lift the ban on exporting American crude oil. Send U.S. oil abroad, she argues, so America can “compete […]

Cheap natural gas spurs more chemical investment

Buoyed by a continued flood of cheap natural gas, the U.S. chemical industry continues chugging forward with billions worth of new plants and expansions along the Texas Gulf Coast even as the rest of the energy sector struggles under a global crude collapse. This week, chemical giant LyondellBasell announced the completion of a $200 million […]

Low-Tech Living as a “Demand-Side” Response to Climate Change and Peak Oil

Abstract: Energy is often called the ‘lifeblood’ of civilisation, yet the overconsumption of fossil energy lies at the heart of two of the greatest challenges facing humanity today: climate change and peak oil. While transitioning to renewable energy systems is an essential ‘supply side’ strategy in response to climate change and peak oil, the extent of […]

BP, Total writing off oil assets in Libya

Libya has become a major headache for European oil companies as a four-year conflict forced BP to join Total in writing off millions of dollars in investments in the North African country. BP on Tuesday said it had taken an impairment of almost $600 million in the second quarter as fighting forced it to suspend […]

I Just Got Laid Off … Now What?

So you’ve just been laid off … and you’re hit with a whirlwind of emotions. And you begin to ask yourself the following questions: What do I do now? How will I feed my family? Where will I find work? All of these questions are valid concerns, but it’s important to remember you’re not alone […]

World Natural Gas Shock Model

The views expressed in the post are those of Dennis Coyne and do not necessarily reflect the views of Ron Patterson. The post that follows relies heavily on the work of Paul Pukite (aka Webhubbletelescope), Jean Laherrere, and Steve Mohr. Any mistakes are my responsibility. For World Natural Gas URR Steve Mohr estimates 3 cases, […]

The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral

As far-fetched as the notion may be to those who are wedded – by choice, by misguided beliefs, or by virtue of being completely beholden to the perpetuation of the status quo – to idea that the dollar will forever retain its status as the world’s reserve currency, the yuan is set to play a […]

Why Oil Prices Could Go Even Lower

On today’s “Deep Dive,” Bloomberg’s Alix Steel and Joe Weisenthal take a look at oil prices. They speak on “What’d You Miss?”

Shale Gas Reality Check

In October 2014, Post Carbon Institute published the results of what likely remains the most thorough independent analysis of U.S. shale gas and tight oil production ever conducted. The process of drilling for shale gas and tight oil is known colloquially as “fracking” and has drawn a great deal of controversy—considered by some as an […]

Michael Lynch: End of Commodities Supercycle?

About a decade ago, Goldman Sachs’ Arjun Murti suggested an oil “superspike” might send prices to $105 a barrel. There were two primary reactions to this analysis, first, that Goldman was just marketing its commodity indices, and second, that he/they were crazy. The former view probably continues to be held by some, the latter, not […]

New Thinking Needed to Reconcile Food-Water Choke Points

Food and water are tied to one another fundamentally. But in addition to their biophysical relationship, human systems intervene, whether through pricing schemes and trade agreements or shifting patterns in consumption and taste. A recently released report commissioned by the Swedish FAO Committee, which supports the work of the UN Food and Agriculture Organization, provides […]

Big Oil and Big Corn blitz EPA on biofuels plan

U.S. farmers, biofuel makers, and oil companies have mounted last-ditch efforts to push regulators to overhaul a controversial plan for biofuel use, homing in on the price Americans pay for gasoline mixed with such fuels as ethanol. In thousands of filings ahead of a midnight deadline for comment on the plan, industry groups and companies […]

Kunstler: Potemkin Party

H ow many of you brooding on the dreadful prospect of Hillary have chanced to survey what remains of Democratic Party (cough cough) leadership in the background of Her Royal Inevitableness? Nothing is the answer. Zip. Nobody. A vacuum. There is no Democratic Party anymore. There are no figures of gravitas anywhere to be found, […]

Explosion shuts down Turkey-Iran natural gas pipeline

Saboteurs attacked a pipeline carrying natural gas from Iran to Turkey in Turkey’s eastern province of Agri late on Monday, halting the flow, Turkish Energy Minister Taner Yildiz and state gas company Botas said. There was no immediate claim of responsibility, but the attack bore the hallmark of the Kurdistan Workers Party (PKK), whose camps […]

Heinberg: Sustainability Metrics, Growth Limits, and Philanthropy

As the metrics of sustainability become ever more robust and sophisticated, it is ever more apparent to many of us who study those metrics that industrial civilization, as currently configured, is unsustainable. Ecological footprint analysis tells us that we are presently using 1.5 Earths’ worth of resources annually. We are able to do this only […]

Why Growing Oil Glut May Be a Long-Term Expedient

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With periodic OPEC meetings increasingly becoming non-events, due to the waning influence of this once mighty price setter, controlling one-third of the world’s oil supply, market share protection by dominant Saudi Arabia has become the weakened monopoly’s guiding principle. What had driven the post “great financial recession” (2008-10) world prices above the $100 mark, before […]

Seeking Consensus on the Externalized Costs of Energy

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It is time to start the next chapter of the Seeking Consensus project: Externalized Costs. This promises to be an interesting chapter because the spread and uncertainty in the available data is much greater than it was for internalized costs. As always, I’ll be providing a first estimate for each given energy option together with a simple […]

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