Peak Oil is You

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News from December 2017

Helium in the high desert highlands

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Helium is important to the United States of America. Western Colorado and eastern Utah together will play a modest but important role in providing America with this lesser known naturally occurring gas central to the nation’s modern standard of living. In 2016, The Wild Earth Guardians protested mineral leases north of Grand Junction auctioned by […]

Global economic growth in 2018 on track to be fastest since 2011

The global economy is set to grow by almost 4% in 2018 in purchasing power parity (PPP) terms, adding an extra $5 trillion to global output at current values, according to new projections in PwC’s Global Economy Watch. The main engines of the global economy – the US, emerging Asia and the Eurozone – are […]

US State Department Hints At Iran Overthrow: Are We Witnessing The Early Stages Of Regime Change?

The US State Department has issued a formal condemnation of the Iranian government following two days of economic protests centering in a handful of cities, calling the regime “a rogue state whose chief exports are violence, bloodshed, and chaos” while announcing support for protesters. It fits a familiar script which seems to roll out when […]

What’s killing the world’s bees? New study claims a surprising culprit

Scientists have found what they believe to be the strongest factor leading to the worryingly steep decline of bumblebees… fungicides. The discovery has now been added to the growing list of threats that could potentially lead to the extinction of the essential pollinators. The revelation that common fungicides are having the strongest impact on the […]

India’s Insatiable thirst for oil

In the Eighties, consumption of oil was the highest in Europe followed by North America. European oil demand, more or less, remained stagnant over the last 15 years, whereas Asian-Pacific countries picked up consumption in the Nineties. Notably, the current demand drivers are India and China. There are multiple competing arguments supporting oil consumption growth […]

A year of historic change in Saudi Arabia, with more to come

Saudi Arabia in 2017 laid the groundwork for momentous change next year, defying its conservative reputation for slow, cautious reforms by announcing plans to let women drive, allow movie theaters to return and to issue tourist visas. The kingdom could even get a new king. King Salman and his ambitious 32-year-old son and heir, Crown […]

Protests turn political in Iran as rallies spread

Demonstrators chanted anti-government slogans in several cities across Iran on Friday, Iranian news agencies and social media reports said, as price protests turned into the largest wave of demonstrations since nationwide pro-reform unrest in 2009. Police dispersed anti-government demonstrators in the western city of Kermanshah as protests spread to Tehran and several other cities a […]

An Open letter to the School of Public Health, UQ, re: the looming net energy cliff

Open Letter To: Staff of the School of Public Health, University of Queensland, Brisbane, Australia, August 2017 From: Dr Geoffrey Chia, MBBS, MRCP, FRACP Re: The looming Net Energy Cliff, Global Economic/Industrial collapse and Human Die-off “infinite consumption from a finite resource base is impossible” Dear Colleagues, I am a Cardiologist who convened the group […]

The long wait for fusion power may be coming to an end

Renewable energy sources like solar and wind account for a growing share of the world’s electric power. That’s no surprise, given concerns about the carbon emissions from fossil fuel-fired power plants and their harmful effect on the climate. Nuclear energy offers some advantages over renewables, including the ability to make electricity when the sun doesn’t […]

Half the world’s population reaching below replacement fertility

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According to the most recent UN estimates (United Nations 2017), almost one half of the world’s population lives in countries with below replacement fertility (BRF), i.e. with a total fertility rate (TFR) below 2.1 births per woman. Of these, one quarter have TFRs close to the replacement level, i.e. between 1.8 and 2.1; the other […]

John Michael Greer: Systems That Suck Less

Last week’s post on political economy attracted plenty of disagreement. Now of course this came as no surprise, and it was also not exactly surprising that most of the disagreement took the shape of strident claims that I’d used the wrong definition of socialism. That’s actually worth addressing here, because it will help clear the […]

All That New Shale Oil May Not Be Enough as Big Discoveries Drop

Three years after causing an oil-price crash, the shale boom may not be enough to meet rising global demand because the industry has cut back so sharply on higher-risk mega-projects. Discoveries of new reserves this year were the fewest on record and replaced just 11 percent of what was produced, according to a Dec. 21 […]

Trump Moves to Scrap Offshore Drilling Safety Rules

The BSEE proposes eliminating regulations that were put in place in response to the deadliest offshore drilling disaster in U.S. history The oil and gas industry is poised to save hundreds of millions of dollars over the next decade thanks to a rollback of offshore drilling safety regulations that have been proposed by the Trump […]

The Biggest Factors In Future Oil Production

The views expressed in this post are those of the author alone. This assessment is based on the data in the 2017 BP Statistical Review of World Energy available here. As such it uses that review’s definition of oil which is crude and condensate and natural gas liquids, uncompensated for their different energy contents or values […]

Shale Growth Hides Underlying Problems

All eyes are on U.S. shale as we head into 2018, with a growing number of analysts worrying that shale will spoil the oil price rally. Estimates of supply growth varying quite a bit, but directionally, everyone is in agreement: Supply is set to surge. However, there are some cracks in the shale complex that […]

The United States of America Is Decadent and Depraved

In The History of the Decline and Fall of The Roman Empire, Edward Gibbon luridly evokes the Rome of 408 A.D., when the armies of the Goths prepared to descend upon the city. The marks of imperial decadence appeared not only in grotesque displays of public opulence and waste, but also in the collapse of […]

What’s the Ideal Number of Humans on Earth?

Earth might be looking a little worse for wear, after the last four-hundred years of reckless wide-scale resource extraction, but to its credit it hasn’t collapsed entirely. Despite our best efforts, it continues to gamely welcome our rapidly expanding population, barring the occasional earthquake. Whether the planet might be a little better off with fewer […]

The Dark Bounty of Texas Oil

For more than a century, the economic fortunes of Texas have depended on oil. The image of mighty geysers spewing depreciable assets out of the ground is forever linked to the state. In the popular imagination, a rich Texan is invariably an oil baron. The Austin Chalk, the Barnett Shale, the Wolfcamp: these layers of […]

Kunstler: Christmas Story

These are the long, dark hours when cis-hetero white patriarchs sit by the hearth chewing over their regrets for the fading year and expectations for the year waiting to be born. I confess, I like Christmas a lot, Hebrew that I am, perhaps the musical and sensual trappings more than the virgin birth business. Something […]

What The Peak Oil Demand Group Is Missing

Summary In Part 1, we showed that the impact of EV growth is highly overestimated. Here, we look at the biggest demand factor being underestimated. India. In Part 1 of this series, we explained why Electric Vehicles (EV) while strong will unlikely make a dent in existing demand for more than a decade. Here, we […]

Cyberattack Targets Safety System at Saudi Aramco

Malicious software attacked a safety system in August at Saudi Aramco, the world’s largest oil company, in what is the first-ever example of malware targeting the computer systems designed to prevent a disaster at an industrial facility. The attack was first described by the computer security firm FireEye in a blog post last week, which […]

Brent Hits Two-Year High

Brent crude closed at its highest in more than two years as shrinking U.S. stockpiles allay concerns over a global glut, while a key North Sea oil pipeline remains shut. In New York, futures closed at their highest in two weeks. Crude stockpiles last week plunged by the most since the height of North America’s […]

How Will Fossil Fuels Fare In 2040?

Fossil fuels have been the dominant source of energy for global economic prosperity for over 150 years. In 2016, fossil fuels overwhelmingly account for over 85 percent in global total primary energy consumption (TPEC)—but what role will they play in 2040 and beyond? There’s an ongoing debate among various agencies, researchers and academia whether the […]

The Bakken Strikes Back

Summary October production data for the Bakken validates operators’ claims of strong early-time well performance in the play’s core. Current prices provide a powerful growth stimulus not yet reflected in the volumes. Continental Resources has advertised 15-month payouts for its wells in the Bakken Core in a $50 per barrel WTI environment, which implies exceptional […]

Oil discoveries are at an all-time low — and the clock is ticking

We’re running out of new oil. Explorers in 2017 discovered the least amount of oil since at least the 1940s, according to Rystad Energy, an oil and gas consultancy. It estimated that less than seven billion barrels of oil equivalent were found this year through Thursday. Some energy companies will announce more discoveries next year in […]

North Korea nuclear attack REVEALED: 90% of US population ‘would DIE’

Expert: Nuclear EMP would leave us ‘fighting for survival’ Hermit kingdom dictator Kim Jong-un has claimed he has the capability to hit mainland US with his rockets.He’s brazenly carried out nuclear and missile tests to showcase his terrifying weapons. Though it has been claimed today Kim may be “lying about the lastest ballistic missile test”. […]

The Bananapocalypse Is Nigh

The bananapocalypse is coming. That’s the likelihood that sometime in the next decade, bananas may disappear, victims of a fungal pathogen known as Panama Disease. The disease is on the march throughout the world, threatening the future of the world’s most popular fruit. Panama Disease may be the cause of this disaster, but it’s also […]

What were the precursors to peak coal?

Next in our peak oil demand series, we’ll look more closely at the impacts of peak demand on the power and renewables market. Read our coverage on how peak oil demand could affect companies and the upstream, supply chain, metals, refining and chemicals industries. woodmac.com

Can The US Survive An EMP Attack?

While there’s no question that a nuclear strike on the Continental US would be utterly devastating, it’s not the only way a rogue state like North Korea could kill millions of American civilians in one fell swoop. Another possibility that is being studied by lawmakers and Pentagon officials is – like North Korea itself – […]

What Will Drive The Next Oil Price Crash?

As we roll into 2018, analysts and investors are more optimistic that the oil market will further tighten next year and support higher oil prices, but rising U.S. shale production will likely cap any significant price gains. On the demand side, expectations are that global economic growth will support solid oil demand growth. On the […]

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