Kunstler: Things To Come

As our politicos creep deeper into a legalistic wilderness hunting for phantoms of Russian collusion, nobody pays attention to the most dangerous force in American life: the unraveling financialization of the economy. Financialization is what happens when the people-in-charge “create” colossal sums of “money” out of nothing — by issuing loans, a.k.a. debt — and […]

Excess oil inventories to last until 2018 – IEA

Oil demand should outpace supply in the second half of this year but excess inventories will persist well into 2018, dealing a blow to global crude producers enacting output cuts to bring down stubbornly high stockpiles. The forecast from the International Energy Agency comes as higher than expected demand growth next year is met by […]

We are on a collision course between the demands of rising populations and the ability of our food resources to sustain themselves – and nitrogen use is the fault line

Humanity is facing an unprecedented dilemma — how to feed a burgeoning population while resources decline and the ability of the Earth’s ecosystems and atmosphere to absorb pollution diminishes. A scientific breakthrough made a hundred years ago is at the heart of the problem. The Haber-Bosch process enabled the use of fossil energy to transform atmospheric […]

Fed rate hike this week to hit millions of borrowers

The Federal Reserve this week is expected to enact a quarter-point rate hike that would take its benchmark target to between 1 percent and 1.25 percent. TransUnion estimates that 8.6 million borrowers were unable to take the payment hit the last time the Fed hiked in December. Another full percentage point hike from here could […]

Iran Aims To Develop Its Largest Oil Field

One of Iran’s top energy priorities this year would be developing onshore and offshore oil fields that it shares with neighboring countries, the official Islamic Republic News Agency (IRNA) quoted deputy oil minister Ali Kardar as saying on Monday. The official named South Pars phase 11 (oil layer) and the Azadegan oil field as priority developments, […]

Greenie Techno-Cornucopianism

Discuss this article at the Seasteading Table inside the Diner I regularly cross-post the work of Albert Bates here on the Diner.  He’s a true Hero of the Revolution, going back to the 1970s when The Farm was founded as part of the Back to the Land Movement of the era.  The Farm has gone […]

Peak Oil Demand: When Is It Really Coming?

Oil derricks at the Chevron Oil Field in Bakersfield, California on November 21, 2016. / AFP / Frederic J. BROWN (Photo credit FREDERIC J. BROWN/AFP/Getty Images) There is a widely held belief that the peak of oil consumption will result from demand reduction rather than depletion. Published scenarios depicting how soon this might happen are […]

South Australia’s new ‘limits to growth’

Readers over 60 years old will remember Limits to Growth – the 1972 publishing sensation written by Donella and Dennis Meadows from MIT and published by the Club of Rome. This book used the then new technology of computer modelling to produce a generalised update of Thomas Malthus’ 1798 work predicting that the world’s population […]

Global Oil Consumption Rate Grows

Global oil consumption grew above the 10-year average rate for a second consecutive year in 2016, rising by 1.6 percent, or 1.6 million barrels per day, BP’s latest Statistical Review of World Energy revealed. Strong increases in demand were seen from India (up 300,000 bpd) and Europe (up 300,000 bpd) and while demand from China […]

‘An unwise idea’: Prof critical of plan to haul icebergs to Dubai

A U.A.E. company’s plan to tow icebergs to the country for water is an “unwise” stopgap measure that fails to address the root of the problem, a Canadian Earth sciences professor says. The plan is to drag icebergs from Heard Island, in the Antarctic, some 9,200 kilometres north to Fujairah, on the coast of the […]

Peak Oil? What Peak Oil?

Look At What Statoil Is Doing — Look At What Iraq Is Doiing — June 13, 2017 Active rigs: $45.93 6/13/2017 06/13/2016 06/13/2015 06/13/2014 06/13/2013 Active Rigs 53 28 75 185 185 RBN Energy: the series continues — Appalachia gas supply vs takeaway capacity. Bakken takeaway: pipelines can now handle all of the current Bakken […]

Gail Tverberg: Falling Interest Rates Have Postponed “Peak Oil”

Falling interest rates have huge power. My background is as an actuary, so I am very much aware of the great power of interest rates. But a lot of people are not aware of this power, including, I suspect, some of the people making today’s decisions to raise interest rates. Similar people want to sell […]

The Challenge of Defining Fossil Fuel Subsidies

Just over a year ago, the G7 group of nations pledged to end all “inefficient fossil fuel subsidies” by 2025. This language disappeared from the latest annual G7 communique, signed in Sicily last month, while a similar G20 promise to end subsidies has no deadline. Meanwhile, on the fringes of such promises lies the perpetual […]

Oil, Gas discovered in southern Pakistan

Pakistani petroleum minister said that there have been five oil and gas discoveries in southern Sindh province of the country. Shahid Khaqan Abbasi making the announcement at a press conference on Monday said these would lead to addition of 600 barrels per day of oil and 70 million cubic feet of gas. He said overall […]

New technology could recover more oil from early Bakken wells

Oil companies are applying new hydraulic fracturing techniques to early Bakken wells, a process industry leaders say has the potential to recover more oil without increasing the footprint on the land. Operators are targeting wells drilled between 2008 and 2010, the early years of Bakken development before fracking technology advanced to where it is today. […]

Shale production may soon hit a wall

A decade or so ago I was doing a TV interview and talked about a technology called horizontal fracturing and shale oil that might one day make the U.S. energy independent and I was laughed off the air. You see back then the concept of energy independence was thought to be an impossibility. Fast forward […]

Climate Alarmists: Abort Your ‘Extra’ Children

Over the past few years, outlets such as NPR, the Atlantic Monthly, the Huffington Post, and the Guardian have written articles with headlines like “Should We Be Having Kids in the Age of Climate Change?,” “The Climate Change Solution No One Will Talk About,” “Voluntary Birth Control Is a Climate Change Solution Nobody Wants to Talk About,”  and “Though Climate Change is […]

Can we create a durable future?

It is hard to imagine anyone today building something as durable as the Roman Colosseum. Most of the damage we see to the 2,000 year-old stadium comes from two earthquakes and the persistent looting of its marble, stone and brass infrastructure by humans using them for other building projects. Were it not for these unfortunate […]

Shale a sword of Damocles over oil

Opec and non-Opec members decided during their meeting on May 25 to renew their production agreement at current levels for another nine months. In a joint statement Khalid Al Falih, the Saudi Arabian energy minister, and the Russian energy minister, Alexander Novak, stressed the need for an inventory target, rather than a price one. This […]

The Fourth Turning: A Summer Of Rage And The Total Eclipse Of The Deep State

“If you do a worldwide survey of eclipse lore, the theme that constantly appears, with few exceptions, is it’s always a disruption of the established order,” said E. C. Krupp, director of the Griffith Observatory in Los Angeles, California. That’s true of both solar and lunar eclipses. “People depend on the sun’s movement,” Krupp said. […]

The Cultural Sickness That Needs To Be Named

  All over the world there is a feeling that something is deeply wrong. It is often felt more than seen, an unnamed darkness that keeps millions (even billions) of people disconnected from the reality of authentic life-affirming experience. Too many of our so-called leaders are asleep at the wheel — they talk about economic growth at […]

Gulf Crisis: Cold War in the GCC

The Gulf Cooperation Council was rocked by scandal this week as Saudi Arabia and its allies swiftly moved to cut all ties with fellow member Qatar over claims that it supports regional terrorism. The allegations are purportedly due to Doha’s persistent backing of the Muslim Brotherhood despite agreeing in late-2014 to radically downscale its support for the organization as part of a détente […]

‘Flammable Ice’ Harvesting Could Spell Trouble for the Climate

An illustration of a field trial testing technology to produce natural gas from methane hydrates in Alaska. Credit: Conoco Phillips A highly combustible form of energy locked deep in the ocean finally can be harvested using a new technique, but deploying that technique on a broad scale could spell trouble for the climate, experts say. […]

Oil majors submit surveys to develop Iran’s Azadegan

International energy companies including Total, Petronas and Inpex, have presented technical surveys for the development of the Azadegan oilfield, an Iranian oil official was quoted as saying on Saturday. Tehran is looking to ramp up its crude output and with 37 billion barrels of oil, the Azadegan field is Iran’s largest, shared with its neighbor […]

‘Global Warming’ Is a Myth, Say 58 Scientific Papers in 2017

“Global warming” is a myth — so say 80 graphs from 58 peer-reviewed scientific papers published in 2017. In other words, the so-called “Consensus” on global warming is a massive lie. And Donald Trump was quite right to quit the Paris agreement which pretended that the massive lie was true. By “global warming” these papers don’t, of course, mean […]

Gas prices lowest for time of year since ’05

Looking for an excuse to pack up the car for a road trip this weekend? Look no further: The average nationwide gasoline price on Friday was the lowest for this point of the year since 2005, according to GasBuddy, a website and smartphone app designed to help drivers find the best deals at the pump. […]

Tillerson Tells Arab States To Lift Qatar Blockade: “It’s Hindering The Campaign Against ISIS”

Secretary of State Rex Tillerson called on the Saudi Arabia-led coalition, which includes UAE, Bahrain and Egypt and others, to lift its blockade of Qatar, saying that the cutoff is hindering the fight against the (Qatar-funded) Islamic State. Tillerson also said the blockade had led to food shortages and forced families to uproot themselves and […]

Why Peak Oil Demand Is Still At Least 20 Years Away

Tesla Inc TSLA 3.43% eclipsed General Motors Company GM 0.67% and Ford Motor Company F 0.27% to become the largest auto company in the world this year in terms of market valuation. Tesla shares are up an incredible 72.3 percent in 2017, while GM and Ford shares are down 1.5 percent and 8.6 percent, respectively. […]

UK election: Brexit confusion

UK Prime Minister Theresa May went to the country June 8 seeking a larger mandate both personally and for Brexit, negotiations for which should in theory start in a matter of weeks. Instead, the UK has returned a hung parliament in which no single party has an overall majority. It is a devastating result for […]

Kunstler: Moby Trump

He breached out of the horse latitudes in the Great Sea of Politics last spring and destroyed all the lesser whales with his mighty flukes, but now the Democratic Pequod, with its diverse and inclusive crew has vowed to chase him to the ends of the earth until he spouts black blood and rolls dead […]

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