Saudi Arabia approves transformation plan, sets 2030 oil, gas targets

Saudi Arabia’s cabinet approved a new economic plan Monday to diversify state revenue in the world’s largest crude oil exporter away from oil by 2030. It also set oil and gas production-capacity targets for the period. The National Transformation Program elaborates on the Vision 2030 document released in April as the brainchild of Deputy Crown […]

EIA Short Term Energy Outlook

The EIA’s Short Term Energy Outlook is out. The data is in million barrels per day. Not much has changed in the EIA’s projection since last month, however their projection for the remainder of this year and next year has increased slightly. The EIA has Non-OPEC total liquids peaking, so far, in 2015. They have Non-OPEC […]

The Seneca Cliff of Oil Production

  The concept of the “Seneca Cliff” seems to have gone mainstream. Below, it is mentioned in a recent post by Dennis Coyne on “peakoilbarrell” as an obvious concept. Just as when you say “Gaussian Curve”, you don’t have to specify what shape the curve has, so it is for the “Seneca Curve”. It looks like I started […]

‘We’re just not competitive’: Why the oil patch can’t cut its way to growth

No matter how much Canadian oil sands producers cut costs, John Stephenson argues it can never be enough. While the CEO of Stephenson & Co. noted some players in the sector will be able to squeeze out tiny profits in a US$50 per barrel oil price environment – Husky Energy and Suncor Energy, for example, […]

Bakken Shows: U.S. Tight Oil Production is Up Against its Limits

Geology, drilling efficiency and increased focus on the best producing areas have all contributed to the dramatic increase in drilling productivity over the last 10 years in the Bakken, argue Jilles van den Beukel (ex-Principal Geoscientist with Shell) and Enno Peters. The contribution from technology is much smaller; for a given well location the well […]

Creditors get priority over environment in Redwater Energy insolvency: judge

Alberta Chief Justice Neil Wittmann has ruled to put lenders ahead of clean-up costs when energy companies go bankrupt. The Redwater Energy case is one that the energy sector, international investors, bankers, lawyers and regulators were all watching closely. Redwater was a tiny oil and gas company that went into insolvency in the spring of […]

Diesel is finite. Trucks are the bedrock of civilization. So where are the battery electric trucks?

Introduction to battery electric trucks Heavy-duty diesel-engine trucks (agricultural, cargo, mining, logging, construction, garbage, cement, 18-wheelers) are the main engines of civilization. Without them, no goods would be delivered, no food planted or harvested, no garbage picked up, no minerals mined, no concrete made, or oil and gas drilled to keep them all rolling. If […]

Once upon a time Congress knew an energy crisis was coming

Extracts from the 2005 Senate hearing “High Costs of Crude” [ In Mason Inman’s outstanding biography of M. King Hubbert, “The Oracle of Oil”, he shows five different models Hubbert used to predict the continental peak of U.S. production that all came up with roughly the same, correct answer. Here are some other forgotten predictions […]

Peak Oil? Life of M. King Hubbert

Peak Oil? Life of M. King Hubbert Series:  Radio Ecoshock Show Subtitle:  the man and the movement – is it dead? Program Type:  Weekly Program Featured Speakers/Commentators:  Mason Inman, Lisa Alexander Contributor:  Alex Smith  [Contact Contributor] Broadcast Restrictions:  For non-profit use only. License:  Attribution (by)  Broadcast Advisory:  No Advisories – program content screened and verified. Summary:  […]

Food: Trading away our future

The increase in trade has big environmental repercussions as well as a big social and cultural impact. The increasing distance makes it easier for market actors to externalize costs and more difficult to citizens and the political system to influence the way things are produced. Trade is not only a response to market demand, it […]

Are Saudi reforms realistic?

Saudi Arabia plans to more than triple the government’s non-oil revenues and clamp down on public-sector salaries over the next five years. As Ivor Bennett reports, Saudi ministers say the reforms will reduce the economy’s dependence on oil and build a sustainable future.

Kunstler: Nausea Rising

Considering that the 2016 election looks like a Dark Age puppet show — Pantalone and La Signora smacking each other with dildos — we forget this spectacle is serious. Rather large matters are at stake, such as the continuity of governance, the legitimacy of the two major political parties, the credibility of our financial arrangements, […]

Why Oil Bears Are Still Wrong

Summary Oil production is probably close to its peak level currently. At best supply can stay the same, but is more likely to drop. Global oil demand, though, has been growing rapidly since the Credit Crisis. Demand is likely to exceed supply in 2017 and probably 2018. Prices will then rise significantly. The OPEC has […]

Oil demand to peak in 2030

Global oil demand could  peak by the end of the next decade  even as global economic growth climbs. The latest downward revision to forecasts, from consulting firm McKinsey, could  leave major new investments uneconomic if demand for energy fails to meet expectations. McKinsey said it has cut its forecast for growth in demand  to 0.8pc […]

Cheap Money Helped Inflate Energy Balloon

Count the intensity of the shale oil boom — and its severe bust — as one of the unintended consequences of the Federal Reserve’s efforts to buttress the economy. The hydraulic fracturing (fracking) method of extracting oil and gas from shale rock has been around for decades, but it didn’t really take off until right […]

No Single Project is the Magic Acorn…

My interview with @tbonini has ben published in Italian at Che Fara.Here is the English version: Q Among the many case histories that you brilliantly discovered and reported in your book, is there someone that you believe is extremely central in planning the “tomorrow’s world”? A The sheer variety of projects and initiatives out there […]

Demand destruction and peak oil

We are fully under the influence of petroleum demand destruction. The global oil market can’t function without real oil production price discovery, which doesn’t exist in the currently deflationary global economy, which forces indebted producers to sell far below cost. Both supply and demand seem to cyclic in nature and we are not finished with […]

Peak Oil and Climate Collapse: Can Society Make the Transition in Time?

As the independent investigative journalist Dahr Jamail has detailed in his regular climate dispatch for Truthout, there are signs that excessive amounts of greenhouse gases such as carbon dioxide are wreaking havoc on the globe’s atmospheric and ocean systems. From the Wildfires raging near Fort McMurray in Alberta, to the increasing acidification of the oceans which cover 70% […]

Bank of Scotland warns of further North Sea pain after ‘severe’ oil slump

North Sea oil companies are poised to make even deeper cuts to the embattled workforce this year as almost half say that costs need to fall further to manage the aftermath of the oil market crash. The Bank of Scotland has warned that nearly a third of companies are planning further job cuts to survive […]

5 of Your Favourite Foods Predicted to Go Extinct

World Environment Day (WED) is one of the greatest annual events celebrated across the globe on 5th June. The objective of the event is to raise awareness about the leading issue of the sustainability of our environment. It was initiated in 1973 by the United Nations General Assembly and United Nations Environment Programme (UNEP) to […]

Where Will You Be When the End Game Begins?

Sometime after oh dark thirty it will begin, the previously cocked trigger suddenly released to wreck havoc throughout the world’s financial system. Like an intricate and interwoven design made entirely of standing dominoes, all it takes is a slight disturbance to knock one off its base and start the cascade of toppled consequences running down […]

Let Them Drown: The Violence Of Othering A Warming World, By Naomi Klein

Edward Said was no tree-hugger. Descended from traders, artisans and professionals, he once described himself as ‘an extreme case of an urban Palestinian whose relationship to the land is basically metaphorical’.＊ In After the Last Sky, his meditation on the photographs of Jean Mohr, he explored the most intimate aspects of Palestinian lives, from hospitality […]

Israel’s Leviathan gas field 20% smaller than previously thought

Former environmental protection minister accuses energy ministry of withholding information from cabinet Israel’s Leviathan offshore field holds 20 percent less natural gas reserves than previously reported, the Israeli Energy Ministry confirmed on Thursday. The ministry said there were 500 billion cubic meters of gas in the reserve, opposed to earlier estimates which said it holds […]

Good luck predicting future of energy

Two years ago, the Nuclear Energy Institute, a nuclear power industry group, analyzed the economic outlook for three Exelon Corp. nuclear plants (Clinton, Quad Cities and Byron) in Illinois. “These three plants are at a significant risk of premature retirement because of a perfect storm of economic challenges — sluggish economy, historically low natural gas […]

Scotland Bans Fracking… Forever

The Scottish Parliament voted to ban fracking countrywide on Wednesday, making a moratorium on the controversial technique a permanent affair. The narrow vote can after the legislative body temporary outlawed fracking in January 2015 while it conducted a public health impact assessment and consulted environmental experts. The Scottish Greens, the Liberal Democrats, and the Labour […]

Saudi’s deputy crown prince to visit US

Saudi Arabia’s powerful deputy crown prince is expected to visit Washington in mid-June for talks with top U.S. officials, possibly including President Barack Obama, amid growing friction between the longtime allies, three sources familiar with the matter said on Friday. Mohammed bin Salman, son of Saudi Arabia’s King Salman, has been leading a drive to […]

Oil Price Poised For A Boost From A Big Fall In U.S. Production

U.S. oil production has entered the end game with output forecast to plummet as drilling dries up and banks foreclose on oil companies teetering on the brink of insolvency. Long predicted as a natural development after the 2014 start of the collapse in the oil price the inevitable has been delayed by drillers squeezing every […]

Can India Surpass China’s Crude Oil Demand Growth?

Over the last decade, China has been the most important driver of commodity markets, particularly crude oil, due to its exponentially growing economy. However, over the last year, the country has consciously moved away from an energy-intensive economic growth to a service-dominated economy. Due to this fundamental shift, the country’s energy consumption has come down […]

Let Nature be Nature

“Can the extravagance of growth fanatics continue? Clearly not. Will President @realdonaldtrump keep the lemmings racing towards the cliff? Definitely so.” !Kung peoples managed their energy well – C.A.S. Hall After posting a pretty dour outlook last week we were amazed to watch it attract more page views more quickly than any of our previous […]

Peak Oil: Are We Not Better Than This?

There are—almost always—at least two sides to any story of significance and potential impact upon others. The greater the impact and potential for a range of outcomes, the more certain one can be that there are more than a handful of factors, considerations, and perspectives to be accounted for if the issue at hand is […]

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