Oil Barrels Aren’t Real Anymore

The U.S. oil industry pumps more than 3 billion barrels of crude per year. Oil crosses continents in pipelines like the Keystone, which moves 1.3 million barrels per day. It travels between them on tanker ships, the largest of which can carry 3.7 million barrels. When oil leaks, the disaster is quantified in barrels spilled—more […]

Saudi Arabia angered after emir’s phone call

Saudi Arabia says it has suspended dialogue with Qatar, shortly after a phone call between the Qatari leader and the Saudi crown prince. The two sides had discussed holding talks to resolve the Qatar crisis, which has seen Doha cut off from Saudi Arabia, Bahrain, Egypt and the UAE. However, Saudi Arabia then accused Qatar […]

Venezuela Is About To Ditch The Dollar In Major Blow To US: Here’s Why It Matters

Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way Venezuela will manage its currency in relation to other currencies and the foreign exchange market), along […]

The Obsolescence of Oil As We Live Out the Current Technology Wave

With every new green announcement on the global technology stage we get propelled further into a reality where oil may no longer be dominant. Whether its France and India committing to phase out gas powered cars, Tesla’s quest to revolutionize the global perception of renewable energy cars or the increasing rate at which many of […]

More Is More

Lauren Greenfield/Institute Christmas morning at Jackie and David Siegel’s Seagull Island mansion, Windermere, Florida, 2010. Their construction of a 90,000-square-foot mansion inspired by the palace of Versailles was the subject of Lauren Greenfield’s documentary The Queen of Versailles (2012); this photograph appears in her new book, Generation Wealth, just published by Phaidon. The dictum “Less […]

To Understand Pipeline Economics, Follow the Money

I have worked for electric and gas utilities in other states, so I am interested in seeing a modern energy system developed in Virginia. I prefer to find solutions where everyone wins, but Virginia is currently split between those who want to protect our land and waters and those who want the lower cost energy […]

Putin Says Tillerson ‘Fell in With Bad Company’

U.S. Secretary of State Rex Tillerson appears to have fallen in with “bad company,” Russian President Vladimir Putin said, lamenting U.S. policy toward his country. Tillerson, a former Exxon Mobil Corp. chief who was awarded one of Russia’s highest honors for foreigners in 2013 and whose appointment after Donald Trump’s election provoked delight in Moscow, […]

Russia Is Preparing for a Massive War

Ukrainian President Petro Poroshenko claimed Thursday that the upcoming Russian military drill in Belarus shows Moscow is preparing its forces for a much bigger conflict. The comments came during his annual address to parliament. Russia’s backing of separatists in the eastern region of Ukraine and its annexation of Crimea show no sign of being reversed, Poroshenko […]

The Shale Party Is Going To End Badly Google Alert

Summary Despite Wall Street’s love for shale, the industry has not been able to support itself through internal cash generation. If Wall Street’s love affair with shale fades, the party is over and production levels will implode. Sentiment towards shale producers relative to offshore producers is completely polarized and will likely reverse in the future. […]

The real BRICS bombshell

Putin reveals ‘fair multipolar world’ concept in which oil contracts could bypass the US dollar and be traded with oil, yuan and gold… The annual BRICS summit in Xiamen – where President Xi Jinping was once mayor – could not intervene in a more incandescent geopolitical context. Once again, it’s essential to keep in mind […]

Gas to Become World’s Primary Energy Source by 2035

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, gas will become the largest single source of energy from 2034. DNV GL’s Energy Transition Outlook, a forecast that spans the global energy […]

Nuclear Plants in Irma Path Spark Fukushima Fears

Hurricane Irma threatens to impact two nuclear reactors when it hits Florida this weekend, sparking fears of a Fukushima-style catastrophe. Florida Power & Light’s two nuclear plants, Turkey Point and St. Lucie plant, are mulling shutting down the reactors in preparation for the massive storm. “If we anticipate there will be direct impacts on either […]

Our forecast of oil prices by 2020 is $65

Global Practice Lead of Wood Mackenzie about alarming future of benzene manufacturers and glowing perspectives of petrochemists Photo: Maksim Platonov 100$ per barrel: at last forget these exorbitant oil rates, Global Practice Lead of Wood Mackenzie’s Refining and Marketing research Alan Gelder urged on 4 September at ”Downstream Tatarstan” international conference whose 40-minute speech was […]

Renewables to produce 85% of global electricity needs by 2050

On Monday, Dutch quality assurance and risk management company DVL GL published its Energy Transition Outlook 2017 report and predicted that by 2050, 85 per cent of global electricity needs and 44 percent of total energy needs will be met by renewables. The report only considered energy produced by solar PVs, onshore and offshore wind […]

France to end oil, gas production by 2040

France plans to pass legislation this year to phase out all oil and gas exploration and production on its mainland and overseas territories by 2040, becoming the first country to do so. President Emmanuel Macron wants to make France carbon neutral by 2050 and plans to curb greenhouse gas emissions by leaving fossil fuels, blamed […]

If There Was Such A Thing As A Category 6 Hurricane, This Would Be It

Hurricane Irma has become even stronger than the most extreme forecasts were projecting.  According to the National Hurricane Center, Irma had sustained winds of 185 miles per hour at one point on Tuesday.  That makes it the strongest Atlantic hurricane in history “outside the Gulf of Mexico and Caribbean”.  I was criticized for suggesting that […]

Consumption Exhaustion

When people use the word catalyst to describe an event that may prick the stock market bubble, they usually discuss something singular, unexpected and potentially shocking. The term “black swan” is frequently invoked to describe such an event. In reality, while such an incident may turn the market around and be the “catalyst” in investors […]

We Looked into the Effects of Hurricane Harvey and Here’s What We Found

Unless you’ve been away from a TV, computer or smartphone for the past week, you’ve likely seen scores of pictures and videos of the unprecedented devastation that Hurricane Harvey has brought to South Texas and Louisiana. As a Texan by way of Canada, I’d like to take a moment to reflect on the human and […]

Oil fading as an energy source because of electric vehicles

The global demand for oil will peak within the next five years, driven largely by the increased market presence of electric vehicles, a top energy consultancy said. DNV GL, a Norwegian company providing risk management advice, said in an energy transition outlook that global demand for energy in general will level off by 2030 and […]

Peak oil demand in 2022

Energy demand will plateau after 2030, according to a new DNV GL (stand 5B51) model which forecasts the pace and extent of the global energy transition until 2050. While fossil fuel will still provide more than 40% Peak of the world energy demand, the consequences of the decarbonization of the energy mix and of the […]

Kunstler: Perturbations Anon

Happy Labor Day everybody. Forward from here, things get jiggy. The nation faces a pile-up of events as we turn the corner on summer and head into the spook-house of autumn. This will be the week when the reeking after-effects of Harvey’s journey through Houston become super-vivid. It’s going to be hot-hot-hot there all week, […]

Oil Majors See Upside At $50 Oil

  Although oil prices are now half what they used to be three years ago, Big Oil is better positioned now than it was when oil prices were sky high, Michele Della Vigna, co-head of European equity research at Goldman Sachs, told CNBC in an interview on Monday. In the dizzy spending days between 2010 […]

How EIA Guestimates Keep Oil Prices Subdued

The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks. The monthly EIA oil production figures tend to be more accurate than the weekly estimates, although they are published on several months after the fact. The […]

Subsidizing new nuclear power such as Vogtle reactors in nation’s interest

Adding two new nuclear reactors at Plant Vogtle is going to need some help from Congress and the federal government to work, according to Georgia Power’s request to continue. And it is in the national interest to subsidize new nuclear power the way the government is helping wind and solar power technologies, a nuclear engineer […]

The Beauty of Biomass

“You probably wouldn’t want to invest in beachfront property at the rate sea level rise and superstorms are accelerating” Hemp and Cob houses at Cloughjordan Ecovillage “The solution to our living arrangement problem is not going to be more cars of a different kind, it’s going to be returning to more towns and traditional neighborhoods. […]

If $26 oil doesn’t do us in, 52 inches of rain won’t either

Frenzied motorists scrambled to find gasoline in Dallas-Fort Worth as reports of imminent shortages spread on social media, fueled by refinery and pipeline shutdowns along the energy-rich Texas Gulf Coast. Storm-weary homeowners and renters by the thousands fled water-filled properties with whatever they could carry, not knowing what would be left of their belongings when […]

De-Dollarization Accelerates: China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold

The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian Review reports. The crude oil futures will be the […]

North Korea detonates its most powerful nuclear device yet

North Korea sharply raised the stakes in its stand-off with the rest of the world Sunday, detonating a powerful nuclear device that it claimed was a hydrogen bomb that could be attached to a missile capable of reaching the mainland United States. Even if Kim Jong Un’s regime is exaggerating its feats, scientific evidence showed that North […]

Heading Off the World’s Water Woes

The world faces water problems on a scale never before experienced in history. The global population is growing as water resources are shrinking. The world’s leading water experts and officials met in Stockholm from Aug. 27 to Sept. 1 for the annual World Water Week. The challenges—and solutions—they discussed included how to guarantee the human […]

Why We’re Doomed…

The point is the present system cannot endure. Despite all the happy talk about “recovery” and higher growth, wages have gone nowhere since 2000–and for the bottom 20% of workers, they’ve gone nowhere since the 1970s. Gross domestic product (GDP) has risen smartly since 2000, but the share of GDP going to wages and salaries […]

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