Paper and barrels, pushing and pulling oil prices: Petrodollars

When oil prices spike — and to a significantly lesser degree, when they collapse — it sets off the same debate almost every time. Did the price rise because of fundamentals? Or did the price rise because of investment flows and trading activities? At the heart of this debate is the idea that there is […]

We could see gas under $2 by Christmas

The last time Labor Day gas prices were this low, George W. Bush was in his first term as president. Prices have been going nowhere but down since June. And according to AAA, the average price of regular gasoline is now $2.40 per gallon — or more than $1 less than it was a year […]

Iran eyes natural gas exports to Europe

Iran is said to be weighing exporting natural gas to European countries through Turkey, its gateway to the continent, following a nuclear deal signed with world powers two months ago that has helped renew economic ties with countries that had imposed international sanctions on Tehran for the better part of the past decade. Exporting gas […]

Saudi Arabia Loses the Oil War

The oil war has finally reached its tipping point after 13 long months. This struggle between Saudi Arabia, and its much smaller North American adversaries has recently shifted as the application of innovative extraction technologies is now gaining the upper hand. The fiscal damage to national budgets is reaching a breaking point as surpluses have […]

Scores of Gulf troops killed in Yemen conflict

Forty-five soldiers from the United Arab Emirates’ military, while taking part in a military campaign against Yemen’s Houthi rebels, in the deadliest day for Gulf forces since the conflict began. Pro-government Yemeni security officials said the UAE troops were killed on Friday when a Houthi missile hit a weapons storage depot near their position in the […]

Decline and Fall, John Michael Greer

“Greer’s work is nothing short of brilliant. Richard Heinberg, Senior Fellow, Post-Carbon Institute, and author, The Party’s Over and The End of Growth Things fall apart; the center cannot hold; Mere anarchy is loosed upon the world. Although writing nearly a century ago, William Butler Yeats could easily be describing the United States today. The […]

I eat, therefore I kill

“Why do we think we need to appropriate all of the world’s arable land to feed humans?“   Icelandic horses We are all what we think of as “individuals” in actuality living communities. Here in Iceland we have permaculture course participants from this country and Germany, the USA, Denmark, Mexico, Canada, Australia, Switzerland, France, Norway, […]

Whither The Economy?

The great problem with corporate capitalism is that publicly owned companies have short time horizons. Unlike a privately owned business, the top executives of a publicly owned corporation generally come to their positions late in life. Consequently, they have a few years in which to make their fortune. As a consequence of the short-sightedness of […]

The Economies Getting Hit by Low Oil Prices

Oil prices are still under $50 a barrel due to a glut in production and OPEC’s—the cartel of oil-producing countries—price war. Some say that the OPEC is winning: U.S. energy firms have been making cut-backs this summer due to losses from the low prices. It’s good news for U.S. consumers though: Labor Day gas prices […]

China’s Worst nightmare–The US Oil Weapon

Tingbin Zhang writes: China’s islanding building on the four-mile-long and two-mile-wide Subi Reef in the South China Sea has put The US in a tight spot. To protect its ally from China’s aggression, The US will be left with little choice but to constrain China by military means. However, the US won’t directly engage China […]

The Oil Price and EMEs growth in Credit and Petroleum Consumption since 2000

  In this post I present a closer look at the credit growth for 6 Emerging Market Economies (EME) together with the developments in their and the net oil exporters petroleum consumption for the period 2000 to 2014. The 6 EMEs are; Brazil, China, India, Indonesia, Malaysia and Thailand. Where did the lion’s share of growth […]

Great Distractions & the REAL Catastrophe Directly Ahead

If you do not believe in global warming, you likely do not understand math, science, or logical reasoning, and you likely are the sort who swallows propaganda hook, line, and sinker, in which case, you probably won’t believe in peak oil either. Go watch your Fox News, go shopping, and pretend nothing is wrong. *As […]

Millennials: What they Really Think of the Oil, Gas Industry

While most of the news surrounding the oil and gas industry this year has involved the price of oil, a fair amount of conversations have included the Great Crew Change and how the new workforce majority – millennials – will fare in an industry led by seasoned professionals. Millennials have already surpassed baby boomers and […]

How to Stop Climate Change

This week we re-think our critique of the People’s Climate March, then we go to Germany where trouble makers have been regularly shutting down Europe’s largest source of CO2. Then on to Greece, to look at a growing resistance against a gold mine and finally to the longest running blockade of oil and gas pipelines […]

China Shows Off Military Might in Grand Parade

The new confident ambitious China is on parade today in Beijing, marking the 70th anniversary of the end of World War II. Presidents Putin and Park are among the guests but most of China’s wartime allies have stayed away. Bloomberg’s Stephen Engle and David Tweed report on “Trending Business.”

No Deal On Oil Output After Russia’s Putin Meets Venezuela’s Maduro

Russia and Venezuela need to combine efforts to lift oil prices, President Vladimir Putin told his Venezuelan counterpart Nicolas Maduro on Thursday, but refused to spell out any specific action, including output cuts. The economies of major producers Russia and Venezuela are highly dependent on proceeds from the sale of oil, the price of which […]

Nicole Foss Interview on Peak Oil, Financial Crisis, Resilience

The full interview with Nicole Foss of The Automatic Earth from the upcoming documentary A Simpler Way: Crisis as Opportunity.

The EIA Changes Data Collection Methods

EIA begins monthly survey-based reporting of U.S. crude oil production With the release of today’s  Petroleum Supply Monthly, EIA is incorporating the first survey-based reporting of monthly U.S. crude oil production statistics. Today’s Petroleum Supply Monthly includes estimates for June 2015 crude oil production using new survey data for 13 states and the federal Gulf of Mexico, […]

Iran puts figure on 2016 oil production goals

Iranian oil production by the end of 2016 will be in excess of 4 million barrels per day, more than in the pre-sanctions era, the nation’s oil minister said. Iranian Oil Minister Bijan Zangeneh said the country will increase net oil production by more than 1.5 million barrels per day, bringing total production for the […]

Why the U.S. Gets the Most Out of Cheap Oil

Cheap oil should be good economic medicine for almost anybody who isn’t trying to sell the stuff. Yet only one country has been able to take full advantage of the 14-month collapse in the price of crude: the U.S. A big part of the reason was the success of the Federal Reserve at repairing the country’s […]

Russia Energy Minister: ‘Fair’ Oil Price Seen at $50-$70 a Barrel

The global oil market is set to stabilize by the year end, with oil prices seen hovering at what seems to be “fair levels” between $50 and $70 per barrel, Russia’s Energy Minister Alexander Novak said Friday. Speaking on state television channel Rossiya 24, Mr. Novak said oil prices won’t return to levels of $100 […]

Will oil’s collapse kill the Keystone pipeline?

While some Wall Street analysts now think the probability of the U.S. economy going into recession are nearly 50 percent, Canada is already there. That bad news comes as Canada gears up for a general election in October and at a time when the slide in global oil prices could spell continuing trouble for Canada’s […]

Kerry Promises Israel, Saudis Money

Secretary of State John Kerry on Wednesday moved to reassure Congress that Israel and America’s Gulf State allies would be fully taken care of in the wake of the Iran nuclear deal, which Kerry acknowledged would not stop Iran’s support for terrorism, according to a letter sent by the secretary of state to lawmakers. Just […]

Shell president: ‘Oil will be required for a long time’

The president of Shell Oil Co. said exploratory drilling off Alaska’s northwest coast is going well despite stormy weather last week that caused the company to halt operations for a few days. And in an interview this week with The Associated Press Marvin Odum said he expects further protests against the company’s plans for Arctic […]

The World’s First Clean Oil Sands Project: An Interview With Dr. Gerald Bailey

After decades of exhaustive attempts to overcome the dirty reputation of oil sands, we finally have an environmentally-friendly and low cost method to tap into these vast resources in the state of Utah—good news both for Mother Nature and all oil and gas investors.  MCW Energy Group’s CEO, former Exxon President of the Arabian Gulf region, […]

China To Lend Venezuela $5 Billion To Boost Oil Production

China will lend Venezuela’s government $5 billion to help the South American country produce more oil. Venezuela is seeking to ramp up production in coming months to offset steep losses caused by falling prices for crude, the nation’s main export, according to media reports. Venezuela’s President Nicolas Maduro announced the deal Tuesday in a speech in […]

Much ado about … an OPEC editorial

An editorial in OPEC’s latest Bulletin caused much excitement and contributed to a price rally on oil markets on August 31. The oil producer club said it stood “ready to talk to all other producers” but emphasized that this had to be on “a level playing field.” But there’s nothing new here. OPEC has regularly […]

What’s Behind the Whipsaw Moves in Oil Prices?

Brookshire Advisory and Research’s Gianna Bern discusses the whipsaw moves in the price of oil with Bloomberg’s Alix Steel and Scarlet Fu on “Bloomberg Markets.”

The oil price explosion is totally detached from reality

Oil prices are still massively higher than they were a week ago but Citi believes that the surge is pretty much devoid from reality. Crude oil rocketed nearly 30% in just three days, its biggest three-day rally in 25 years. Since Friday August 28, oil over 20% higher. Today, crude oil prices are initially ebbing off ever-so […]

U.S. tight oil production decline

U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated. Oil companies have cut back spending significantly in response to the fall in the price of oil. The number of rigs that are active in the main U.S. tight oil producing regions– the Permian […]

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