ExxonMobil Strikes More Oil Offshore Guyana

Exxon Mobil Corp. reported Thursday it had further established offshore Guyana as a significant exploration province with a new oil discovery and successful appraisal drilling at its Liza field. The Payara-1 discovery encountered over 95 feet (29 meter) of high-quality, oil-bearing sandstone reservoirs. Payara-1 was drilled in a new reservoir and marks the second oil […]

Why the Green Economy Is Here to Stay

In recent decades, global economic development has increasingly been impacted by sustainability considerations. While corporations in previous eras may have polluted rivers, produced smog and run through natural resources with reckless abandon, today – whether catalyzed through government legislation, consumer demand, or a sense of social responsibility – companies are developing and growing their businesses […]

U.S. Shale Jobs Are Coming Back

The U.S. shale oil recovery is now gaining momentum, and for the first time since September 2014, the U.S. oil and gas extraction and support services jobs increased by 3,300 in November, according to the U.S. Bureau of Labor Statistics (BLS) data. Though the increase is small compared to the whopping 155,000 job cuts over […]

4 Possible Futures For The Global Food System

Somehow, despite the fact that the global food system produces so many calories that 2.1 billion people are overweight or obese, it also leaves 800 million people without enough to eat. The agriculture sector is responsible for 29% of greenhouse gas emissions, plus a host of environmental problems, from polluted waterways to deforestation. Food waste […]

HSBC Global Oil Supply Report (September 2016)

HSBC produced an interesting report on oil production decline rates and their implications for the long-term oil supply outlook – Global oil supply: Will mature field declines drive the next supply crunch?. 1. The oil market may be oversupplied at present, but we see it returning to balance in 2017e2. By that stage, effective spare […]

Oil Discoveries Seen Recovering After Crashing to 65-Year Low

Explorers found 3.7 billion barrels in 2016: Wood Mackenzie Last year will probably be the low point for discoveries The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good news: It can probably only get […]

Despite the Hype, Batteries Aren’t the Cheapest Way to Store Energy on the Grid

There are many different kinds of energy storage technologies, each with its own advantages and drawbacks. Lithium ion batteries are the most popular form of storage at the moment, but according to Roger Dargaville, Deputy Director of the Melbourne Energy Institute, they are not always the cheapest option. Nevertheless, lithium ion will probably be the […]

Peak oil in the South China Sea

China’s crude oil production has apparently peaked and is back to where it was at the beginning of 2010. Fig 1: China’s crude oil production http://www.jodidb.org/ Vietnam has become a net oil importer: Fig 2: Vietnam’s oil production and consumption At the end of 2016 tensions in the South China Sea have been rising again South […]

Gail Tverberg: 2017 The Year When the World Economy Starts Coming Apart

Some people would argue that 2016 was the year that the world economy started to come apart, with the passage of Brexit and the election of Donald Trump. Whether or not the “coming apart” process started in 2016, in my opinion we are going to see many more steps in this direction in 2017. Let […]

Heinberg: The Peak Oil President?

The frequency of Internet searches for the term “peak oil” has waned dramatically in recent years; now even the number of articles announcing the “death” of peak oil has dwindled, so universal is the assumption that the concept is completely debunked. Why bother beating a dead horse? With supreme irony, it could be within the […]

Iraq Could Kill The OPEC Deal

OPEC made an early New Year’s resolution when it promised the world that it will get thin – or more accurately that it will thin its output in an effort to help support prices. As anyone who has ever had a New Year’s resolution knows, those promises can be hard to keep. OPEC is about […]

US To Sell 8 Million Barrels Of Oil From The Strategic Petroleum Reserve

Two weeks ago we previewed that the U.S. Department of Energy could begin to sell off some of its strategic petroleum reserve (SPR) as soon as January, the beginning of a multi-year process to shrink the nation’s stockpile of oil. Congress has authorized DOE to sell off $375.4 million worth of oil in its recent […]

Michael Lynch: Will Dishonesty Kill Cleantech?

Public debate having become weighted with bombast and extremism, there is still a potential penalty to be paid for dishonesty.  Many forget the story of the debate on homelessness in the 1980s and the sad end of activist Mitch Snyder, famed for extravagant, often tongue-in-cheek protests.  It was thought by some that the issue of […]

Is an Economic Oil Crash Around the Corner?

A report by HSBC shows that contrary to industry mythology, even amidst the glut of unconventional oil and gas, the vast bulk of the world’s oil production has already peaked and is now in decline, while European government scientists show that the value of energy produced by oil has declined by half within the first […]

Prepare for a Bumpy Ride in 2017

After two and a half years of opening up the taps (or rather: not closing them) OPEC has changed course in what is looking to be a gamechanger for the oil market. Market sentiment has shifted and the oil price has gone up. But that doesn’t mean we can go back to the status quo […]

When Russia Conquered the World With White Oil

Russia is one of the world’s hydrocarbon superpowers, rich in coal, oil, and natural gas. The autocratic state’s economic and political power relies heavily on these natural resources. This history goes back to the early nineteenth century, when the Tsarist empire began conquering the Caucasus and Transcaucasian regions, capturing the oil-rich Baku region from the Persians. Russian oil […]

Climate Deniers and Oil Flacks Who Love Trump’s EPA Pick

Scott Pruitt, Oklahoma’s attorney general and Donald Trump’s pick to lead the Environmental Protection Agency, has been a longtime opponent of federal environmental regulations and a denier of climate change. Not surprisingly, as Pruitt’s confirmation hearing approaches, many of his most prominent supporters are on the fringe of leading scientific consensus on climate change, and […]

Photovoltaics: cultural rape?

Those of you who can read French may be interested in this rant by Nicolas Casaux at http://partage-le.com/…/le-desastre-ecologique-renouvelabl…/ Apparently, the government of New Zealand financed a large PV installation in the Tokelau island, somewhere in the middle of the Pacific Ocean. The plant is backed up by lead batteries, so it can provide 24/24 power […]

Kunstler: America Versus the Deep State

The bamboozlement of the public is nearly complete. The Deep State has persuaded 80 percent of Americans that all news is propaganda, especially the news emanating from the Deep State’s own intel department. They’re still shooting for 100 percent. The fakest of all “fake news” stories turns out to be… “Russia Hacks Election.” It was […]

How high-tech agriculture can prevent oncoming global water wars

Forget about oil or gas – you should be worrying about the less discussed but far more concerning fact that the world is running out of clean, drinkable water. I wrote this article while in Kathmandu. Nepal’s capital and largest city has a severe water shortage. Even though all homeowners pay a fee to the […]

The craziest oil price predictions for 2017

Predicting where oil prices would go next month or next year has always been a game of hit and miss, all the more so in the past two years since the oil price crash began. Analysts have forecast prices in the range US$10 to US$70 at various points this year, and actual prices have also […]

The real economy: What is it?

A comment from Pierre Rabhi, a French thinker and farmer, who I prefer to call the “philosopher of the land”: “Today, when one speaks of economics, it is not a question of the real economy. The real economy is a system that aims to share resources as evenly as possible to meet the needs of […]

Saudis Said to Duel Rivals by Curbing Heavy Oil Over Light Crude

Saudi Arabia is staying in the battle for market share by continuing to pump the type of oil that’s similar to rival U.S. and African supply, while fulfilling its promise to cut output by focusing curbs on other varieties. The nation plans to idle some fields producing the Arab Medium and Arab Heavy grades to […]

Fact-Checking Snopes On Las Vegas And Renewable Energy

When I hear a claim that doesn’t sound quite right to me, I usually check in at Snopes to get the facts. They usually do a good job of debunking fake news, and they provide lots of references to back them up. However, I think they did a huge disservice to readers recently with their […]

How Powerful Is Big Oil?

President-elect Donald Trump sparked controversy by appointing the CEO of ExxonMobil, Rex Tillerson, as his Secretary of State. Many fear that including the oil industry in his emerging administration could affect US foreign policy and undo years of environmental policy gains. But the fossil fuel industry is one of the most powerful global industries and […]

US to Deploy Hundreds of Marines to Afghanistan

The US will send 300 Marines to train Afghan forces in the embattled Helmand province, adding to nearly 10,000 US troops still in the country. The Taliban claimed most of the opium-making region after NATO withdrawal. The troops are set to be deployed in spring of 2017 as a part of NATO’s advise-assist mission, the […]

‘Overwhelmed’ Massachusetts Nuclear Power Plant Spikes with Radiation

The Pilgrim Nuclear Power Plant has spiked with radiation to near alert levels alarming officials. The already troubled plant located in Cape Cod Bay has spiked local radiation detectors as high as 115 counts per minute (CPM), adding concern to an already ‘overwhelmed’ staff. “Now, a group of Massachusetts politicians, including Governor Charlie Baker, Attorney […]

U.S Corporations Prepare to Gorge on Tax Cuts

The official line from U.S.-based multinational corporations is that if they get a huge tax break, they’ll bring home the trillions of dollars in profits they’ve stashed overseas and use it to hire tons of Americans. (Nearly 3 million, says the U.S. Chamber of Commerce!) But now that Donald Trump’s election means it might really happen, […]

China Extends Tax Waivers For Oil, Gas Drilling

China is extending tax waivers for importing key drilling and production equipment for both onshore and offshore oil and gas development, the Ministry of Finance said on Friday. The ministry said Chinese manufacturers are unable to make the equipment, such as semisubmersible drilling platforms used for waters deeper than 1,000 feet and robots in waters […]

Saudis, Russia To Diverge On Speed Of Oil Output Cuts

OPEC and non-OPEC members have pledged to cut their combined oil production by an average of just over 1.7 million barrels per day (bpd) in the first six months of 2017. Saudi Arabia and its Gulf allies are expected to implement most of their cuts immediately, but other producers both within and outside the Organization […]

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy