US infrastructure may soon have its Nixon-to-China triumph

For many it’s just another day in the Untied States of  America, but for the American steel industry things are looking great. Steelmakers’ share prices surged in the wake of Republican Donald Trump’s election as US President last week, presumably on his commitment to put America first by fighting unfair trade deals and imports. He […]

Indian Economy Grinds To A Halt After Cash-Ban: “Faith In System Shaken”

Amid scenes of panic across India, following PM Modi’s shock decision to withdraw high-value bills in the middle of the sowing and wedding season, Reuters reports the move, aimed at cracking down on the shadow economy, has brought India’s cash economy to a virtual standstill. With over 90% of all transactions done in cash, money […]

IEA cuts coal growth outlook in half as China peaks

The International Energy Agency (IEA) has dramatically scaled back its outlook for coal demand growth over the next 25 years, Carbon Brief analysis shows. The 2016 World Energy Outlook sees global coal demand rise by 214 million tonnes of oil equivalent (Mtoe) by 2040, less than half the 485Mtoe increase it expected last year. The […]

Texas Gusher Exposes Lie Of Peak Oil Pushed By Media

David Knight discusses how the mainstream media has been pushing lies on the American public for decades.

IEA expects U.S. shale output rise if OPEC pushes oil to $60

U.S. shale oil producers will increase their output if oil prices hit $60 a barrel, meaning OPEC will have to walk a fine line if it curtails production to prop up prices, the head of the International Energy Agency (IEA) said. OPEC members are due to meet in Vienna at the end of the month […]

No Saudi Oil Says Trump, Saudi Arabia Fires Back

  Saudi Minister of Energy, Industrial and Mineral Resources Khalid al-Falih arrives for the opening ceremony of the Qatari and Saudi Economic Forum on November 6, 2016 in Riyadh. (Photo  FAYEZ NURELDINE/AFP/Getty Images) Imagine making the world’s largest oil exporter sweat it out, even before you take office. That’s exactly what Donald Trump is doing. […]

Trump: on the way to “Scenario 3

Margarita Mediavilla and her coworkers have performed extensive simulations of the future using system dynamics models, (see here). One of their scenarios, called “Scenario 3,” is based on the hypothesis of a return to national competition, protectionism, deglobalization, and the like. In comparison to other scenarios, Scenario 3 is the least expensive in terms of […]

IEA Sees Peak Oil Demand After 2040

Global oil demand won’t stop growing before 2040 despite pledges made at the Paris climate change summit last year to cap greenhouse-gas emissions, the head of the International Energy Agency said. IEA Executive Director Fatih Birol’s comments have added to a debate over when oil consumption—which has steadily grown for decades—will begin a sustained decline, […]

What the End of the Age of Oil Will Mean to the Global Economy

Imagine a world of 50% annual inflation, resource wars that span the globe and energy prices skyrocketing as oil reaches $200 a barrel. This is what the “peak oil” theory predicted. And it shaped the opinions of scientists, policymakers and the general population for decades. Recent history has shown, however, that the peak oil theory […]

Peak Oil & System Justification: Denial Will Be Costly

Scientists say there’s a tension in the brain between responding to new information and resisting overwhelming amounts of conflicting data—and the latter can prevent opinion change. Altering opinion depends on using different psychological methods tailored to different types of belief.… ‘There’s not much convincing people,’ even when the beliefs in question are purely false, says […]

The Catastrophic Consequences Of Peak Oil Demand

With OPEC’s 2016 World Oil Outlook now grimly forecasting that peak oil demand could become a reality in just over a decade, and natural gas and renewables chomping at the bit to cannibalize commodity market growth, it may be good for the environment, but the trade-off will be global instability on a catastrophic level. The […]

Feds Call West Texas Deposit ‘Largest’ in History

A western Texas oil and natural gas shale formation was labeled the “largest” of its kind by the U.S. Geological Survey on Tuesday. Federal surveyors announced that the Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin now holds the record for most oil, natural gas, and gas liquid deposits that are “undiscovered, […]

The True Cost of Food

The true cost of food has been an issue that has affected me since the beginning of my farming life. Ever since I started farming back in the 1970s, I produced milk, wheat and carrots as sustainably as I could manage, but found it difficult to compete with my neighbours who were using chemical production […]

Gauging the Trump effect on global commodities

There is perhaps no better reminder that the US presidency is a position of extraordinary power. Since the victory of US President-elect Donald Trump last week, businesses and governments have been working overtime to try to discern exactly what his presidency might mean for a range of important policy areas. Across the world, every campaign […]

Peak globalisation?

“Peak oil” was always a myth.  The notion that the world might eventually run out of it ignored how markets work.  When demand of a commodity exceeds supply prices tend to rise, leading people to use less of it and to develop substitutes.  Barely had the printer’s ink dried on “peak oil” stories when hydraulic […]

Oil demand growth could fall below 1% by 2018

Impact investment firm Wermuth Asset Management (WAM), has said that regardless of whether oil prices rise around potential OPEC production-capping news, there is no long-term future for the hydrocarbon sector. Solar power is now available at $3 cent/kWh, which is equivalent to oil at $5/barrel. According to WAM research, continued investment in Oil and Gas […]

Britain to officially shutter all coal power plants by 2025

Government to phase out the most polluting fossil and replace it with cleaner sources, such as gas, to meet climate commitments Campaigners are calling for UK’s coal power plants to close even earlier than 2025. Photograph: David Jones/PA The last coal power station in Britain will be forced to close in 2025, the government said […]

Kunstler: What Now?

Not to put too fine a point on it, America coughed up Hillary Clinton like a hairball last week — the catch being it then had to swallow the Cheeto-colored bolus called Donald Trump. It was worth it to see the fog of Hillary-smuggery lift across the cable TV networks since the “I’m With Her […]

US Army, Interior Dept Call For More Review On Dakota Pipeline

Federal authorities deferred a final decision on a controversial North Dakota section of the Dakota Access Pipeline on Monday in a statement that highlighted concerns about the “repeated” dispossession of tribal lands in the country’s past. The Departments of the Army and Interior, in a joint statement, said that while their previous decisions to grant […]

EIA revises 2017 crude production upwards

The U.S. Energy Information Administration has revised its crude production forecast for 2017 up slightly as the U.S. rig count continues to rise. The agency said in its latest short-term energy outlook that it expects U.S. crude oil production to average 8.7 million barrels per day (bpd) in 2017, up by 100,000 bpd from last month’s […]

Will Trump Send The Price Of Oil Soaring?

In its latest, monthly oil production update, OPEC reported that its crude oil output increased by another 240,000 barrels a day in October to 33.64 million barrels a day, a new record high, with Nigeria, Libya and Iraq driving the supply boost and with total production about 1 million barrels higher than the plateau agreed […]

Gulf War Fires That Turned Kuwait’s Oil Fields into Hell

The following excerpt is from Sebastião Salgado’s impending book “Kuwait: A Desert on Fire” (out November 23 via Taschen) in which the Brazilian photographer explains what inspired him to capture the oil fires set ablaze by Iraqi soldiers in 1991, as well as why he decided to publish those images a quarter-century later. All photos […]

Oil Is Heading Back To $20s

Oil bulls had a good ride in the last eight months. The black gold rallied, from mid-$20s in January to the mid-$50s in late October. But economic fundamentals have turned bumpy for oil bulls in the last couple of weeks, with oil heading towards the $40-mark rather than the $60-mark as some had expected. And […]

Global oil demand could peak by 2020, says Shell

The world’s second-largest energy company by market value is less confident than others that the majority of vehicles on the world’s roads will continue to be powered by fossil fuels for the next few decades. The rise of electric cars has led many analysts to make predictions about the future of the oil industry. ExxonMobil and OPEC have […]

Oil Majors See Reserves Evaporate: Write Downs Continue

In its third-quarter report, Exxon warned it might have to write off 4.6 million barrels of oil and oil equivalent from its proved reserves if international prices remain at the current level into the end of the year. The company explained that at these prices, the reserves were uneconomical to tap, and therefore fail to […]

The Largest Threat To North Sea Oil

The Brexit vote has not shaken up forecasts for North Sea oil and gas production, according to BMI Research, but a successful second bid for Scottish independence could slash output in the region. BMI Research’s core view on the UK’s primary oil and gas sector remains unchanged, with oil output estimated to reach 978,000 barrels […]

Trump: the Defeat of the Empire of Lies

In 2003, the Western Media were able to convince almost everyone that the evil dictator Saddam Hussein was stockpiling weapons of mass destruction in Iraq. The success of this propaganda operation was so spectacular that it led one of the aides of George W. Bush to declare that “now we create our own reality.” It […]

Imagine If — ‘The Great Turning’ meets ‘Community Rights’

Community rights educator Paul Cienfuegos reads his inspiring short declaration inspired by Joanna Macy’s notion of “The Great Turning,” a total change in how we govern ourselves. Paul writes, “The Community Rights movement has been spreading across the United States — one city, town and county at a time. Since 1999, 200 communities have passed […]

How Agriculture Uses Energy

When we think of ways to reduce emissions of toxic gas contributing to global warming, the suggestions brought up first are usually buying a car that has better gas mileage, recycling and composting, or buying energy-efficient appliances. All of these are excellent ways to help reduce energy consumption. Agriculture in America, however, is responsible for […]

Trump a symptom of declining net energy

Energy futurist Chris Nelder explores the common ground between the Occupy movement and the Tea Party: declining energy leading to declining economic surplus. Beneath the complex narratives of the Occupy and Tea Party movements, and beneath the unfolding collapse of our complex global financial system, is a simpler narrative about energy. Yet this narrative continues […]

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