“Economy Shattered, Currency Collapsing”: Venezuelans Wait In 6 ATM Lines For Enough To Buy Rice

A fistful of bolivars buys… well, next to nothing. A sad state of affairs in Venezuela. Is this how the economic crisis will play out in America? A cash strapped population, forced to the brink and stripped of their dignity? Unfortunately, it is already underway in Venezuela. Of course there is a higher standard of […]

Crude Oil Prices: “Random”? Hardly.

This week’s shocking spike in crude oil prices is +12% and counting, the biggest one-week gain in five years. Media stories blame one culprit: the November 30 OPEC agreement to cut production. In absolute terms, the agreed-to cut is small: 1.2 million barrels a day, less than 2% of daily global oil production. Given the […]

Oil to Top Out at $60 a Barrel

For a moment last week, it seemed as if the bad old days, when the once-mighty Organization of Petroleum Exporting Countries enjoyed dominance over the oil market, had returned. On Wednesday, OPEC announced that its members had agreed to a larger-than-expected production cut, its first reduction in eight years. The 14-nation cartel also announced that […]

A fusion-focused future

Dr David Kingham explains why fusion energy is closer than ever before Nuclear fusion is the creative process of the universe. All matter, besides hydrogen and a smattering of helium, was created in the fusion furnaces within stars as small atomic nuclei joined together to make larger ones. This reaction releases huge amounts of energy […]

Destructive Hacks Strike Saudi Arabia

State-sponsored hackers have conducted a series of destructive attacks on Saudi Arabia over the last two weeks, erasing data and wreaking havoc in the computer banks of the agency running the country’s airports and hitting five additional targets, according to two people familiar with an investigation into the breach. Saudi Arabia said after inquiries from […]

Goodbye peak oil, hello peak demand

The threat of the world facing a declining supply of oil, so-called peak oil, has given way to a forecast that is calling forth its much more benign cousin: peak demand. The relatively subdued reaction to an agreement this week by the Organization of the Petroleum Exporting Countries to cut oil production beginning in January […]

Is This The Mastermind Behind The OPEC Deal?

  Going into the Algiers OPEC meeting in late September, the prevailing sentiment among the analyst community was that there is no way any deal will get done: after all there was no secret that the recent animosity between Iran and Saudi Arabia had recent reached unprecedented levels, with both side directly involved across from […]

Harold Hamm Rejects Trump’s Offer of Energy Secretary

Energy mogul Harold Hamm will not be taking President-Elect Trump up on his offer to name him Energy Secretary, according to Fox News. Hamm, who yesterday cleared a cool $3 billion in less than three hours off his shares in Continental Resources Inc. after the Organization of Petroleum Exporting Countries (OPEC) announced that it had […]

Transition in Ireland

Ireland is one of the most advanced countries in energy transition, getting over a quarter of its electricity from renewables. It also has one of the most ambitious targets—to obtain 40% of its electricity generation from renewables by 2020—and the resources to be more than 100% powered by renewables, given time and technological development. On […]

Oil Skyrockets as OPEC Members Agree on a Deal

Gold prices began to drop once again yesterday as the pressure of the dollar strength continued to weigh on gold and silver. We have been saying that gold prices will continue to be weak in the short term and under pressure as we approach the Fed meeting in which a rate hike is expected to […]

US and Saudi Arabia establish new relationships with oil

When gasoline prices spike over the next few days, find some comfort in knowing that the extra money will benefit struggling Texas companies and the U.S. economy. Admittedly, the idea that higher oil prices could benefit the U.S. is radical. Historically, higher oil prices have dragged down the economy by taking more money from American […]

Is another Arab Spring brewing?

I t has been nearly six years since the self-immolation of a Tunisian fruit vendor triggered a wave of uprisings across the Arab world. What has changed since people in the Middle East and North Africa went out in the streets to demand freedom? A new UN report paints a dire picture, warning that the […]

End Games Part I: There Aren’t Always Enough Fish in the Sea

The board game “Fleet” (Eagle-Gryphon Games) is a simple engine-building game with auction mechanics.  Each player starts with limited financial resources that are then used to generate capacity for more resources by purchasing fishing licenses and hiring captains.  The game ends when there are either no more fishing licenses to distribute or no more tokens […]

Petrodollars Won’t Be Making an Asian Stopover

When oil prices slumped, petroleum exporters sold emerging-market assets. Now that OPEC has clinched its first deal in eight years to cut output, expectations are growing for a return of the petrodollar bid for bonds and equities in Asia. Those hopes could get dashed fairly quickly, though. Compared with a decade ago, the petrodollar recycling […]

IEA World Energy Outlook 2016

The IEA has released the 2016 version of their annual world energy outlook report – World Energy Outlook 2016. The report has prompted a spate of articles about “peak oil demand” (with earlier reports from the Economist and WSJ being joined this week by Forbes, Bloomberg and The FT). Other than speculation about when demand-driven […]

Putin Wants to Work With Trump as Equals to Restore Relations

Russian President Vladimir Putin said he’s ready to work with U.S. President-Elect Donald Trump’s new administration on an equal basis, as he urged joint efforts to fight terrorism in his annual state-of-the-nation speech. “We are ready for cooperation with the new U.S. administration,” Putin said in the Kremlin on Thursday before an audience of both […]

Economic Reality Won Out in OPEC Deal: Yergin

Daniel Yergin, vice chairman at IHS Markit, examines OPEC’s agreement to cut production for the first time in eight years and how the deal may affect the global oil market and producers. He speaks on “Bloomberg Daybreak: Americas.”

The Peak Oil Election

From  The Daily Star, by Eugene Marner Here in the USA, we held an election recently that left most surprised, many dismayed, and many others eager to explain what happened, why it happened and what we do now. Lots of deep thinking and heavy breathing have gone into those analyses and I don’t mean to compete […]

Peak Oil & System Justification: Damned Environmentalists

  The tendency to justify the system may interfere with a clear evaluation of environmentally damaging aspects of the socioeconomic status quo and prevent a person from becoming dissatisfied and from taking action to correct environmental problems or stop destructive cycles     DEALING WITH FEAR & UNCERTAINTY     Jost et al. (2007) suggest […]

Crude Cut Could Push Oil to $75 Per Barrel in 2017

Following months of global oil market angst, OPEC has pledged to cut its production by almost 1.5 million barrels per day (MMbpd) – a greater target than proposed when the cartel last met in Algeria. This first OPEC accord in eight years is designed to accelerate the rebalancing of a market that has shown some […]

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