Citi Sees $65 Oil By Christmas

Maybe the surge in U.S. shale production won’t kill off the oil price rally after all. Oil prices could rise as high as the mid-$60s per barrel by the end of the year, according to a new analysis from Citigroup. That even takes into account the ongoing rebound in U.S. shale production. U.S. oil production […]

‘Alt’ Data in Emerging Markets

In increasingly volatile, global markets, news that is meaningful for investment portfolios doesn’t just come out of Washington, New York, London or Brussels. Real-time, breaking news can surface from an oilfield in Nigeria, a street protest in Jakarta, or a business conference in Brazil. Or any of the countless other places in emerging economies, which […]

The Chinese President’s Pet Project

China’s President Xi Jinping wants to revive China’s ancient Silk Road by spurring trade via a network of new railways, ports, pipelines and highways. This Bloomberg QuickTake explains Xi’s pet project. (video by Robin Fall, Henry Baker) (Changed headline to better reflect video.)

Undaunted by oil bust, financiers pour billions into US shale

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Investors who took a hit last year when dozens of U.S. shale producers filed for bankruptcy are already making big new bets on the industry’s resurgence. In the first quarter, private equity funds raised $19.8 billion for energy ventures – nearly three times the total in the same period last year, according to financial data […]

Rising Dragon, Wounded Eagle

When China`s former vice premier, Qian Qichen, was asked 20 years ago about the future of Sino-US relations, he reportedly responded: `They [Sino-US relations] will never be as good as they should be; and never be as bad as they can be.` This prognosis holds true today for the world`s `most important bilateral relationship`. Munir […]

Tom Whipple: Peak Oil Review – 17 Apr 2017

Quote of the Week “The shortcoming of oil replacement by the drill bit has been quite drastic … Discoveries are not keeping up with production.” Per Magnus Nysveen, head of analysis, Rystad Energy.  Last year, 10 billion barrels of oil were discovered, around one third of global consumption, including well-appraisal activity, said Nysveen. He added […]

Why US oil production isn’t done rising

The oil market got another dose of data Monday that pointed to the likelihood of further gains in U.S. crude-oil production. Oil production from seven major U.S. shale plays is forecast to climb by 124,000 barrels a day to 5.193 million barrels a day in May from April, according to a monthly report on drilling […]

What is Direct Action?

Direct Action is a phrase that gets thrown around a lot when describing anarchist tactics…. and rightly so, since it’s one of the main ways anarchists put our values of autonomy, self-organization and mutual aid into practice. So… what is it exactly?

Population: Threat to the economy

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As of Thursday, April 13, 2017, India’s population, based on the latest United Nations estimates, was 1,339,040,095, only some 47 million more than China’s total population on that day. The UN estimate (Worldometers) records India’s population as 17.86 per cent of the total world population as against China’s 18.47 per cent. In 2016, India’s population […]

‘Drawdown’ and global warming’s hopeful new math

This week marks the publication of an ambitious new book with the audacious goal of showing how to reverse the warming of the planet through a myriad of innovations, many of them led by business for profit. Drawdown: The Most Comprehensive Plan Ever Proposed to Reverse Global Warming (Penguin Books), was edited by the author […]

The Economy Is Like a Circus

The economy is like a circus. It comes to town, and eventually it leaves town. We get paid in tickets to this circus. As long as the circus stays in town, we can use our tickets. Once the circus leaves town, we are pretty much out of luck.1 The reason the circus stays in town […]

North Korea warns ‘nuclear war could break out at any moment’

The country’s foreign minister threatened the US with an ‘all out war’ if Trump is reckless enough to use military means’ NORTH Korea has warned “nuclear war could break out at any moment” as the country vowed to test missiles WEEKLY. The country’s foreign minister threatened the US with an “all out war” if Trump is “reckless […]

Reeling From Low Oil Prices, Saudis Look To Freeze Megaprojects

Saudi Arabia will start reviewing a number of multi-billion-dollar infrastructure and development project—remnants from a better past when crude oil prices were in three-digit territory. Some of these, according to government sources, will be shelved and others will be restructured. The review is part of urgent reforms prompted by the oil price rout from 2014, […]

Is The Deep State Creating Another “Crash Of 1929”?

Regarding the Great Depression… we did it. We’re very sorry… We won’t do it again. – Ben Bernanke   Waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road—either too much inflation, financial instability, or both. – Janet Yellen In his speech above, future Federal Reserve Chairman […]

Kunstler: Buy the Dip?

The military frolics of spring have distracted the nation’s attention from the economic and financial dynamics that pose the ultimate mortal threat to business as usual. Note the distinction between economic and financial. The first represents real activity in this Land of the Deal: people doing and making. The second, finance, used to be a […]

Oil well leaking out of control on Arctic Alaska North Slope

By Steven Mufson, The Washington Post A BP oil and gas production well in Alaska’s North Slope blew out Friday morning, and on Saturday afternoon, the well was still not under control as responders fought subfreezing temperatures and winds gusting up to 38 mph. Efforts to get the well under control were also being hampered […]

Russia could soon take over a chunk of U.S. oil infrastructure

Russia may soon take control of American oil and gasoline infrastructure in a deal U.S. lawmakers warn represents a threat to energy security. Rosneft, Russia’s state-controlled oil company, could end up with a majority stake in Texas-based Citgo after the entity that owns Citgo, Venezuela’s state-owned oil and natural gas company PDVSA, used almost half […]

OPEC Sees a World That Still Has Too Much Oil

The oil market is tipping slowly from glut to equilibrium, as output cuts from OPEC and 11 non-OPEC countries start to reduce crude flows. It’s not quite there yet. Indeed, the grand “re-balancing” of supply and demand has yet to take place, although the International Energy Agency does at least believe “that the market is already very […]

Is That Armageddon Over The Horizon?

The insouciance of the Western world is extraordinary. It is not only Americans who permit themselves to be brainwashed by CNN, MSNBC, NPR, the New York Times and Washington Post, but also their counterparts in Europe, Canada, Australia, and Japan, who rely on the war propaganda machine that poses as a media. The Western “leaders,” […]

Confounding Collapse

“As brilliant as your conceptual breakthrough may be, there is no escaping your cultural milieu.” The Paris Agreement calls for deep decarbonization by 2050 (net neutrality) and drawdown of all the legacy carbon thereafter, returning humans to the comfortable Holocene from which we evolved. A recent study by Energy Innovation Reform Project (a pro-nuclear, pro-coal […]

For Oil’s Future, Peer Through the Hedges

In oil, like life, the secret to happiness is to lower your expectations. That isn’t just a piece of homespun, nihilist wisdom. It’s what’s happening beneath the surface of the oil market. Hedging is how exploration and production companies manage their market risk. Locking in a price for future output — by, for example, selling oil […]

Gas at $3 per gallon could hurt US economy

The U.S. national average price for a gallon of gasoline would need to move close to $3 before it starts having a negative economic impact, an analyst said. U.S. retail gasoline prices have been on a steady increase for the better part of the year. Motor club AAA reports a national average price for a […]

Tillerson made $27.4 million last year

U.S. Secretary of State Rex Tillerson received compensation worth $27.4 million last year when he was chief executive of Exxon Mobil Corp, the world’s largest publicly traded oil producer, regulatory filings showed on Thursday. He and other senior executives got raises even though Exxon’s net income fell more than 50 percent in 2016 as the […]

That time Noam Chomsky scared the bejesus out of me

I had never read Noam Chomsky before or seen him speak, but I’d definitely heard about him over the years. Most recently when watching the movie “Captain Fantastic,” when the main characters — a super smart, back-to-the-land family — all celebrate “Chomsky Day” as if it was Christmas. There was a lot of hype for […]

Make our soil great again

Most of us don’t think much about soil, let alone its health. But as Earth Day approaches, it’s time to recommend some skin care for Mother Nature. Restoring soil fertility is one of humanity’s best options for making progress on three daunting challenges: Feeding everyone, weathering climate change and conserving biodiversity. Widespread mechanization and adoption […]

Did You Know that the Oceans Have It All?

Perhaps you are not aware enough of the fact the oceans have it all! What is “all”? Well, oceans have from microscopic life to the largest animal that has ever lived on Earth, from the colourless to the shimmering, from the frozen to the boiling and from the sunlit to the mysterious dark of the […]

Oil Thesis For 2017 – International Production

Summary Recent data on international rig counts continue to show little increase into 2017. We anticipate oil production from non-OPEC, non-US production sources to decline in 2017 as depletion and decline rates take their toll; We differ from IEA’s interpretation of the trend line for non-OPEC, non-US production in H2 2017. This is our third […]

Huge! Geologists Discover The US’s Largest Natural Gas Deposit

The U.S. Geological Survey (USGS) discovered the largest continuous natural gas deposit in the country, stretching across the Gulf Coast states of Texas and Louisiana. USGS estimates between 4 billion barrels of oil and 304.4 trillion cubic feet of natural gas sit untapped in the Haynesville and Bossier shale formations. More natural gas was found […]

Kunstler: What Could Go Wrong?

“Things fall apart; the center cannot hold.” Yeats wrote. The funny thing is, we didn’t seem to miss the center all that much after it was gone. America is perfectly satisfied hunkering down at the margins these days. Especially the margins of thinking. One thing that used to occupy the center was public discussion, debate, […]

The New World Order: Failing States and Collapsing Systems

Donald Trump is a symptom of imperial decline, and not really the problem. The world faces not a “clash of civilizations” with radical Islam (although the dust-up remains a significant challenge), but a crisis of civilization that includes riotous climates, poisoned oceans, failing forests and collapsing economies. And if you think those two statements ring […]

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