Higher Oil Prices Are Coming, But Not Just Yet

There’s only one thing worse than being a late arrival at a party, and that’s being early, which is a good reason for investors to be be careful as they assess whether oil has hit the bottom and can stage a sustainable recovery. After touching a three-month low of $38 a barrel in late August the […]

Russia faces battle with Saudi Arabia over European oil market share

European oil refineries seem to be turning to Saudi instead of Russian crude. The Kingdom has been cutting prices to win market share away from Russia which accounts for 25 percent of crude consumption in Europe. According to Reuters, oil majors Exxon, Shell, Total and Eni have been buying more crude from Riyadh for their […]

Limits on the Grid

Podcast: Play in new window | Download Subscribe: iTunes | Android | RSS Guest Mackay Miller, Senior Research Analyst at NREL. @mackaymiller Links NREL: Renewable Electricity Futures Study (RE Futures) (2012) NREL: Power Systems of the Future (May 2015) Nelder: Designing the grid for renewables (2012) Nelder: Wind to Double and Solar to Triple in […]

Research Shows Promise for Economical Deepwater Production

When it comes to offshore advancements, Australia is on the cutting edge of developing technology aimed at lowering the costs of deepwater production. One of those advancements is mobile mudmats, or offshore foundations that gently slide along the seabed rather than remaining in place – much like a skyscraper slightly bends with the wind. During […]

Mexico And Brazil Oil Auction Failures Are Further Proof Of Peak Oil At Current Prices

Summary Mexico’s first attempt to open up its oil industry to foreign companies was a failure. Its auction only attracted $2.6 billion in potential investments, compared to $17 billion maximum potential. Brazil had a similar failure more recently, with only 10% of its blocks being auctioned receiving viable bids. These latest failed auctions, coupled with […]

Petrostate Politics: A Tale of Oil and Aggression

Commentators have already compared President Vladimir Putin’s recent address before the UN General Assembly with his speech at a security conference in Munich in 2007. Some, such as Sergei Markov, claimed the speech was “tougher than Munich, outright anti-American,” while others, such as Tatyana Stanovaya, argued that it was “the opposite of Munich,” an effort to return to the time in 2001-03 when Russia was […]

Is Natural Gas Fueling the Syrian Conflict?

In the Golan Heights, there is an unassuming aqueduct used for local irrigation. Not so long ago, however, this mundane structure was part of a much grander project, known as ‘Tapline,’ a 754 mile long Trans-Arabian pipeline to transport oil straight from the Persian Gulf to the Mediterranean Sea. When Tapline was constructed in 1947, the […]

Fracking Wells Associated With Premature Birth

Expectant mothers who live near active natural gas wells operated by the fracking industry in Pennsylvania are at an increased risk of giving birth prematurely and for having high-risk pregnancies, new Johns Hopkins Bloomberg School of Public Health research suggests. The findings, published online last week in the journal Epidemiology, shed light on some of […]

Iran Could Trigger A Resource War On Several Fronts Other Than Oil

As has already been discussed at length, once the economic sanctions imposed by the U.S. and the European Union on Iran begin to be lifted next year, there is going to be a surge in the already oversupplied global crude oil markets. The current world crude oil output is around 96.6 million barrels per day […]

Oil glut up by half a billion barrels in 2015

The world’s big oil exporters pumped more than half a billion barrels more crude than needed in the first nine months of this year, industry data gathered by Reuters and major energy market forecasters show. The Organization of the Petroleum Exporting Countries pumped an average of 31.20 million barrels of oil per day (bpd) between […]

Michael Lynch: Are There Oil Price Superforecasters?

At an academic seminar once, an economist remarked that oil prices were stochastic in nature. The student next to me asked what that meant, and I explained stochastic means random, and economists use it to look smarter. He then asked me if oil prices moved randomly and I explained that when an economist says something […]

Cuban Oil: Black Gold or Black Hole?

Cuba has oil and gas. That is certain, say geologists. The big question is just how much. Chris Schenk, Geologist at the U.S. Geological Survey, was one of the first to assess the island’s natural resources. By Schenk’s estimate Cuba has at least 4.6 billion barrels of undiscovered oil and 9.8 trillion cubic feet of […]

BP Smacks Down ‘Peak Oil’ Fears

Fear over the environmental impact of using oil, gas and coal reserves means we may never run out of untapped energy stores, according to a leading petroleum industry economist. “Concerns about carbon emissions and climate change mean that it is increasingly unlikely that the world’s reserves of oil will ever be exhausted,” BP Chief Economist Spencer […]

Saudi Arabia needs to get to grips with cheap oil

MONEY is the glue that holds Saudi Arabia together. To maintain a loyal citizenry and counter radicalism, the kingdom’s rulers pamper their subjects with lavish benefits and cushy government jobs. In times of uncertainty, such as during the Arab spring, workers are handed pay rises and bonuses. The last big payout, after the coronation of […]

Oil supply shock, food shortages, and potential starvation in Sweden?

In 2013 the Swedish Institute of Agricultural and Environmental Engineering (JTI) released a report about potential impacts on the country’s food supply from sudden oil import shocks. JTI looked at three different scenarios, where oil imports would be redistricted (-25%, -50%, -75%) for a period of 3-5 years. Not enough time to make a transition […]

2 More Fracking-Related Earthquakes Hit Oklahoma Despite New Rules Meant to Prevent Them

Two earthquakes registering at a 4.5 and a 4.4 magnitude shook frack-happy Oklahoma on Saturday, some of the strongest felt in the state this year. The stronger quake occurred just a few miles from the city of Cushing, which holds one of the largest crude oil storage facilities in the world. The recent quakes struck […]

Is Washington Trying To Start World War III?

Why has Barack Obama airdropped 50 tons of ammunition into areas that “moderate rebels” in Syria supposedly control?  This is essentially the equivalent of poking the Russians directly in the eyes.  Much of this ammunition will end up in the hands of those that the Russians are attempting to bomb into oblivion, and so to […]

Bakken Production Down plus IEA Predictions

The Bakken and North Dakota production data is in. Bakken production was down 19,502 bpd in August while all North Dakota was down 20,552 bpd. Here is an amplified chart of Bakken and all North Dakota production. Bakken barrels per well per day is now 112 while all North Dakota gets 94 barrels per well […]

China Continues to Eat More and More Meat—and That Matters for Everyone

As the world’s most populous country, China consumes a lot of food. As an emerging economic powerhouse, even despite recent financial woes, China consumes a lot of food in greater quantities than it did three or four decade ago—meat, in particular. And with a growing population and a growing middle class, the demand for meat […]

The great Ukrainian agricultural sell-off

As detailed previously, Ukrainian agribusiness has been one of the few success stories during the course of the country’s recent woes. And it’s a good thing that it is, as it is hard to understate the importance of agribusiness to Ukraine. A third of all exports from Ukraine last year were agricultural. Some 16.3% of […]

Oil: $20 Or $70

Summary Goldman Sachs says that $20 oil is coming and to sell the current rally. A UBS analyst said on Oct. 12 that $70 is around the corner. The fundamentals remain bearish. The Russian presence in the Middle East is very destabilizing. The Shale Factory will cap rallies, but the bottom is in. Goldman Sachs […]

Welcome To a New Planet

Not so long ago, it was science fiction. Now, it’s hard science — and that should frighten us all. The latest reports from the prestigious and sober Intergovernmental Panel on Climate Change (IPCC) make increasingly hair-raising reading, suggesting that the planet is approaching possible moments of irreversible damage in a fashion and at a speed […]

IEA: Oil Glut To Persist As Global Demand Growth Slows

A global oil supply glut will persist through 2016 as demand growth slows from a five-year high and key OPEC members maintain near-record output, the International Energy Agency said, even as low prices curb supply outside the producer group. The IEA, which advises industrialised countries on energy policy, said in a monthly report on Tuesday […]

Politics, geology and money collide for Russia’s Arctic bids

Calling the oil resources of the Arctic vast is a bit like calling the weather there chilly. It is understandable why a nation would want to claim as much of it as possible. Yet the challenges to harvesting its wealth are also vast, which makes Russia’s move to owning a larger swath of the region […]

The Peak Oil Crisis: When?

For those following the world oil production situation, it has been clear for some time that the only factor keeping global crude output from moving lower is the continuing increase in U.S. shale oil production mostly from Texas and North Dakota. Needless to say once the fabled “peak” comes, oil and gasoline prices are certain […]

Busting the myth called development

Mansoor Khan wears many hats. An alumnus of IIT Mumbai, Cornell University, New York and MIT, Boston, he chose instead to follow in the footsteps of his illustrious filmmaker father Nasir Hussain and directed some blockbusters like ‘Qayamat Se Qayamat Tak’ (QSQT) and ‘Jo Jeeta Wohi Sikandar’ (JJWS). Then he left the glamour industry to […]

A global test of American power

Obama is under pressure, at home and abroad, to restore the image of US strength How long can a country that represents less than 5 per cent of the world’s population and 22 per cent of the global economy, remain the world’s dominant military and political power? That question is being asked with increasing urgency […]

Russia sending gas to Ukraine

Natural gas deliveries to Ukraine resumed at the maximum capacity after the payment of outstanding arrears, Russian energy company Gazprom said. Ukrainian energy company Naftogaz said last week it sent half of its outstanding payments to Gazprom, securing an agreement for the delivery of natural gas from Russia. As of Monday morning local time, Gazprom […]

Kunstler: Bang, You’re Dead

Apropos of the recent Roseburg, Oregon, school massacre that left nine dead, President Obama said, “we’re going to have to come together and stop these things from happening.” That’s an understandable sentiment, and the president has to say something, after all. But within the context of how life is lived in this country these days, […]

Oh Oil, Where is Thy Peak?

F. William Engdahl, journal-neo.org October 9, 2015 ACS Editor Comment: For several years I myself was a “peakist”, after reading Michael Ruppert’s book Crossing the Rubicon. Fortunately I decided to revisit the topic and discovered that Ruppert and many others were victims of a very extensive and successful propaganda campaign – science for hire, so […]

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