Power plants, happy with high electric rates, fight natural gas expansion

Almost everyone agrees that the cost of electricity in Maine and New England is too high. Almost everyone, that is, except the region’s power plant owners. They’ve recently stepped up their opposition to plans aimed at lowering wholesale natural gas prices by expanding pipeline capacity. These plans would pump more fuel to power plants when […]

Kunstler: Wounded Elephant

Last night’s debate raises some interesting questions, such as: would the Romans have elected Caligula if given the chance to vote? Can the Republican party recover from Donald Trump? If the party poobahs “pull the plug” on Trump, as some are threatening to do (that is, cut off funds to his campaign), will they go […]

The End of China Inc?

As Evercore ISI notes in its latest China weekly summary, the “biggest China policy development last week, was multiple cities establishing new rules to slow the spreading housing mania,” adding that this was “surely at Beijing’s behest“, it now indeed appears that China is once again trying to cushion a soft landing for a housing […]

BP CEO: Oil market is in balance

<p>Oil price now has breathing room: BP CEO</p> <p>Bob Dudley, CEO of BP, tells CNBC the oil industry is &quot;pretty much in balance,&quot; following its &quot;really rough run.&quot;</p> Oil price now has breathing room: BP CEO   4 Hours Ago | 01:51 “The oil market is “pretty much in balance,” Bob Dudley the chief executive of […]

OPEC production cut: Just another Saudi head fake?

What do you do when everyone is bugging you to do something, but you don’t want to do it? The simple answer is that you make it look like you are doing something in order to get others off your back. It is not always easy to tell what people’s intentions are. But we can […]

The Farce Awakens

History has shown us that voting on elections accomplishes next to nothing, and that real lasting revolutionary change is won through hard work, by real people self organizing, and not by elected politicians. Yet every four years, the spectacle of the Democrats VS Republicans entices millions and makes them forget these proven facts. Trap News […]

$60 Oil Not ‘Unthinkable’ This Year, Saudi Energy Minister Says

Saudi Arabia’s energy minister Khalid al-Falih said that he was optimistic major oil producers could agree to cut production by November and that it wasn’t “unthinkable” that crude prices could rise another 20% this year to $60 a barrel. The minister’s words confirmed a decisive shift in policy by the Organization of the Petroleum Exporting […]

Do We Really Want A War With Russia?

I wish I could say things were improving between the US and Russia but they aren’t. They’re rapidly worsening. There’s so much happening right now, I can only provide a summary of a few of the more interesting and worrying developments. This report builds on those I’ve released over the past two years and begins […]

Millennials, please don’t reproduce

As a whole, I have no issues with millennials, just like I would never have an issue with someone based purely on their birth year. I do not believe that millennials are more entitled, lazy, or more “politically correct” than any previous generation, because I wholly reject any argument which situates itself upon the generalization […]

Germany calls for a ban on combustion engine cars by 2030

Germany isn’t content with relying on financial incentives to usher in an era of pollution-free cars. The country’s Bundesrat (federal council) has passed a resolution calling for a ban on new internal combustion engine cars by 2030. From then on, you’d have to buy a zero-emissions vehicle, whether it’s electric or running on a hydrogen […]

US Storage Filling Up With Unaccounted-For Oil

U.S. crude oil storage is filling up with unaccounted-for oil. There is a lot more oil in storage than the amount that can be accounted for by domestic production and imports. That’s a big problem since oil prices move up or down based on the U.S. crude oil storage report. Oil stocks in inventory represent surplus supply. Increasing or […]

There is Less Than ONE Day’s Surplus of Natural Gas

Natural gas supply and demand fundamentals have changed in a major way. In March there was way too much gas. By November there may not be enough…at least at these low prices. NOW is the time to position yourself to profit from it…..BEFORE the money starts flowing into natural gas producers. For 21 consecutive weeks […]

Asia Soaks Up Iran’s Post-Sanctions Oil

Asian nations are stepping up their purchases of Iranian oil, underscoring Tehran’s deepening energy ties with the region amid a slow rapprochement with European crude buyers. China, India, Japan and South Korea are among big Asian oil consumers that have sharply boosted their imports of Iranian crude this year. China and India are looking to […]

An AWEsome energy source: where do we stand with airborne wind energy?

I have been following the development of airborne wind energy (AWE) for more than 10 years and I keep following it. This summer, I visited the campus of the Technical University of Delft, in Holland, where I met the people of “Enevate”, the university spinoff dedicated to kite power, a field in which the university […]

Cheap oil – Benefits have costs

Remember peak oil? And the dire predictions that the world’s oil supplies would run out, with accompanying higher energy prices? Fracking technology has rendered that alarm mute. The glut of world wide oil has driven the cost down to prices not seen in years. You and I are beneficiaries of the oil surplus, but the […]

Taliban Oil

The little-known story of secret negotiations between the Taliban and the US to a build a pipeline through Afghanistan. In 1989, the withdrawal of Soviet troops from Afghanistan marked the end of a violent occupation that had started almost 10 years earlier. The Soviet invasion, which had resulted in a protracted war for independence, fragmented […]

Could the bottom fall out of this oil rally?

The oil markets will have to wait almost two more months before the uncertainty surrounding the pending OPEC deal is settled, so in the meantime a renewed focus on the fundamentals is in order. The global oil production picture is still highly fluid, particularly with promises for a cut to OPEC production while some OPEC […]

Why Iran is not the next China?

Iran is a major power in the Middle East, with a population of over 80 million and strong military capabilities. It is the third largest economy in the Middle East and North Africa (MENA) region after Turkey, and Saudi Arabia, with an estimated Gross Domestic Product (GDP) of over $400 billion. Importantly, Iran ranks second […]

Exxon Is Hit With Fine From Chad That’s Five Times Country’s GDP

A court in Chad told Exxon Mobil Corp. to pay a record fine of $74 billion, as well as $819 million in royalties it said the oil company owed to the state, according to a court document. “We disagree with the Chadian court’s ruling and are evaluating next steps,” spokesman Todd Spitler said by e-mail […]

New Mega Oil Discovery In Alaska Could Reverse 3 Decades Of Decline

A small company just announced that it has made a “world-class” oil discovery in Alaska, which could be the largest find in the state in years. Caelus Energy LLC, a small company backed by private equity, says that it has discovered oil on Alaska’s northern coast. The field could hold as much as 6 billion […]

The Coming Collapse Of The World’s Biggest Economy

The stage is set for the collapse of the world’s largest economy – the European Union. The trigger: Italy’s exit from the euro currency. The Financial Times recently put it this way: An Italian exit from the single currency would trigger the total collapse of the eurozone within a very short period. It would probably lead to […]

Chatting with Steve St. Angelo about Oil and Finance

  Independent researcher Steve St. Angelo started to invest in precious metals in 2002.  Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored. These areas include how energy and the falling EROI – Energy Returned On Invested […]

Malthus the prophet of doom: why bother with reading the original when you can simply cut and paste from the Internet?

An excerpt from the book I am writing, “The Seneca Effect,” that contains a chapter dedicated to the Irish famines. Above, the reverend Thomas Malthus (1766 – 1834) The demolition of Thomas Malthus’ work in our times is often based on accusing him of having predicted some awful catastrophe to occur in the near future, […]

Oil Glut? Here Comes Some More!

Global oil markets are flooded with cheap crude, and concerns about climate change are growing louder. The last thing the world seems to be craving is the discovery of new large oil and natural gas fields. But such fields have been found in the last month. And two of them are in the United States […]

What Hubbert Practitioners, Art Berman, And The EIA Agree On With Shale Oil

Summary The dramatic production resurgence of two countries that peaked over 30 years ago is ironically changing perception of peak oil today. US shale oil is an indispensable prop keeping us from high oil prices. There is close agreement among the minds that should know on the longevity of the US shale oil revolution. Oil […]

Energy Poverty And Its Human Costs

More than any other time in history, people around the world are demonstrating a deep and passionate commitment to addressing poverty. With the world wealthier and more prosperous than ever before, no one should be confined to a life of poverty. A clear sign of the global commitment to end poverty is the release of […]

PIRA Energy expects oil surplus to be gone by second half of 2017

The surplus in crude oil supply that has led to a two-year price rout has been eroding since the second quarter and will be “gone” by the beginning of the second half of 2017, PIRA Energy Group founder Gary Ross told reporters on Wednesday. A massive glut in oil brought crude prices crashing from the […]

The Myth of the Anthropocene

To explore the messy future that modern industrial society is making for itself, it’s necessary now and again to stray into some of the odd corners of human thought. Over the decade and a bit that this blog has been engaged in that exploration, accordingly, my readers and I have gone roaming through quite an […]

Why Oil Will Power Past $100

Summary In recent years, many factors have caused a big drop in the price of oil. Many of these changes that have hurt oil seem permanent; trends toward alternative energy in particular are accelerating. However, the price of oil won’t stay low forever. It will rebound and hit $100/barrel again in the next few years. […]

Iran Signs New Model Oil Deal as It Vows to Pump More

Iran on Tuesday clinched the first oil-field deal designed to boost its production, vowing to pump more crude despite a collective OPEC deal to curb output. Iran’s oil ministry news agency Shana said the government had signed a $2.2 billion contract with a unit of Iranian company Tadbir Energy, which is controlled by a religious […]

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