Peak Oil is You

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News from January 2018

Russia Struggling To Expand Arctic Oil Production

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Oil production from Russia’s Arctic region increased in 2017 as new onshore developments and the only offshore producing platform ramped up production. But challenges in Russia’s arctic remain. Last year, production from onshore fields in Yamal-Nenets autonomous region in northern Russia contributed the most to the rise in oil production in the Arctic. Output from […]

BP Announces New North Sea Discoveries

BP plc announced Wednesday that it has made new discoveries in the North Sea at Capercaillie, in Block 29/4e, and Achmelvich, in Block 206/9b. The Capercaillie well was drilled to a total depth of 12,303 feet and encountered light oil and gas-condensate in Paleocene and Cretaceous-age reservoirs, while Achmelvich was drilled to a total depth […]

MIT Researchers: US Oil Production Estimates May Be Flawed

There’s something odd about the U.S. oil production boom. Yes, the U.S. is now a player on the world energy stage, producing enough to strike fear into the hearts of OPEC‘s member states. Crude oil production in the U.S. has practically doubled in just 10 years and is now approaching the production levels of OPEC’s […]

‘Major’ Deep Offshore Oil Discovery Made in US Gulf of Mexico

Chevron Corporation announced Wednesday that a ‘major’ oil discovery has been made at the Ballymore prospect, located deep offshore in the U.S. Gulf of Mexico. The Ballymore well reached a total measured depth of 29,194 feet and encountered more than 670 feet of net oil pay with ‘excellent’ reservoir and fluid characteristics, Chevron said in a […]

A New, Unanticipated Oil World

A letter in a November 1999 edition of the Oil & Gas Journal, “Running Out of Oil,” written by an industry consultant, stated 11 facts and predictions. Far from unusual, his facts were generally correct and his prognostications mainstream. U.S. oil production was in decline in the 1990s. Oil imports were rising. This led George […]

Hydraulically fractured horizontal wells account for most new oil and natural gas wells

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Source: U.S. Energy Information Administration, based on DrillingInfo Inc. and IHS Markit In 2016, hydraulically fractured horizontal wells accounted for 69% of all oil and natural gas wells drilled in the United States and 83% of the total linear footage drilled. The combination of horizontal drilling and hydraulic fracturing has increased the rate of recent […]

Economic Collapse: Will Cryptocurrency Save the Financial System?

Where to go from here? If trust and sustainability were the two conditions that allowed for the transition from physical gold to paper currency, it is from this basis that we must start to analyze where we are going and what effects the next economic crisis could have. In 2008, confidence in central banks saved the […]

The Fetid Fruits Of Empire: Too Many Wars, Too Many Enemies

If Turkey is not bluffing, U.S. troops in Manbij, Syria, could be under fire by week’s end, and NATO engulfed in the worst crisis in its history. Turkish President Erdogan said Friday his troops will cleanse Manbij of Kurdish fighters, alongside whom U.S. troops are embedded. Erdogan’s foreign minister demanded concrete steps by the U.S. […]

Oil demand: Beware the gap

Peak oil demand has swiftly moved from concept to potential to symbolic talisman—and it means different things to different people. Most often, the debate centres on the year when this peak may occur. Is it 2025? 2035? And these days the discussion never fails to mention electric vehicles, which—runs the argument—will eat away at oil’s […]

Revisiting Peak Oil; entering the era of abundant oil

Rather than witnessing peak oil supply or oil scarcity, we are now seeing a flood of new oil supplies across the world. Rather than worrying about where all the oil we will need in the future is going to come from, we are now talking about when global oil demand will peak. The timing of […]

Sanchi Oil Spill Has Already Caused ‘Serious Ecological Injury’

By Andy Rowell The Sanchi oil spill in the East China Sea could potentially be one of the worst tanker spills in decades, experts are warning, even though the spill has now largely disappeared from news reports. Work by scientists from the National Oceanography Centre (NOC) and the University of Southampton, who have plotted where […]

Celebration 50 Years Since the Global Uprisings of ’68

Older generations never tire of reminding youth that the years they spend on college or university campus are formative moments in their lives, times that more often than not play an important role in shaping the trajectory of their future careers and helping to determine the types of adults that they will soon become. These […]

How Much Energy Do We Need?

Because energy fuels both human development and environmental damage, policies that encourage energy demand reduction can run counter to policies for alleviating poverty, and the other way around. Achieving both objectives can only happen if energy use is spread more equally across societies. However, while it’s widely acknowledged that part of the global population is […]

Will Our Cities Survive the 21st Century?

Goodbye, Miami, American Atlantis. The city is sinking. Yes, in the literal sense, swaths of the metropolis—built on flat, permeable limestone—will be swallowed by seas expected to rise 4–8 feet globally by the century’s end. That includes the $50 million waterfront condos still being developed on Miami Beach. The working-class stucco homes miles from the […]

Exxon plans major US investments due to tax reform

Exxon Mobil Corp (XOM.N) plans to invest billions of dollars in the United States due in part to recently approved corporate tax rate cuts, the company’s chief executive said on Monday. A logo of Exxon Mobil is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell […]

Why Canada Is The Next Frontier For Shale Oil

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The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oil sands. Now Canada is looking to its own shale fields to repair the economic damage. Canadian producers and global oil majors are increasingly exploring the Duvernay and […]

Kunstler: Stormy Weather

For those of us who are not admirers of President Trump, it’s even more painful to see the Democratic opposition descend into the stupendous dishonesty of the Russian Collusion story. When the intelligentsia of the nation looses its ability to think — when it becomes a dis-intelligentsia — then there are no stewards of reality […]

Who will drink the last glass of water in Cape Town?

Because Cape Town sits between picturesque beaches and mountains, it is a favored travel destination. And, its weather during the summer is described as “almost too perfect.” That’s in part because it rains very little in the summer in this second most populous city in South Africa. Water, water everywhere, but not a drop to […]

Asia’s energy landscape in 2018

The dynamics of Asia’s energy landscape is changing fast as prices – from crude oil to LNG – are staging a sharp recovery. What kind of pressure Asian importers will face in 2018? Will there be demand destruction? Are we going to see a change in supply patterns? The S&P Global Platts Asian oil […]

Rex Tillerson says ‘stability’ threatened by Russian pipeline

Secretary of State Rex Tillerson is lashing out against Russia’s plans to open a natural gas pipeline to supply energy to Germany, saying Saturday that it threatens stability in the region. “Like Poland, the United States opposes the Nord Stream 2 pipeline,” Tillerson said while at a joint press conference in Warsaw with Polish Foreign […]

Yarrow’s Spiderweb

“We are, like spiders, carbon creations that have learned to use carbon as tools. “ At the farmhouse kitchen sink, looking out a window at the front yard, I saw suspended, hanging in air, a long, thin twig and slender leaf. Slight, intermittent breezes moved the dangling tree debris about, made it obvious […]

Every One of the World’s Big Economies Is Now Growing

A decade after the world descended into a devastating economic crisis, a key marker of revival has finally been achieved. Every major economy on earth is expanding at once, a synchronous wave of growth that is creating jobs, lifting fortunes and tempering fears of popular discontent. No tidy, all-encompassing narrative explains how the world has […]

Is This The World’s Most Critical Pipeline?

The Southern Gas Corridor, connecting Azerbaijan to the world’s largest economic block, is one of the most important infrastructure pipeline projects worldwide, bringing Caspian gas into Europe. Europe wants to become less dependent on Russian gas and use more clean energy, taking advantage of the technological advances made in the renewables sector, along with the […]

Natural gas consumption sets record

The natural gas industry received a gold star for performance during the recent cold weather across a large portion of the United States. The Energy Information Administration (EIA) reported recently consumption of natural gas in the residential and commercial sectors set a record for the week ending on Jan. 5. EIA said consumption reached 452 […]

Prince Alwaleed Finally Released From “Hotel Arrest”

Two weeks after we reported that Saudi Arabia’s billionaire prince Alwaleed Bin Talal was reportedly carted off from the Riyadh Ritz Carlton to Saudi Arabia’s highest security prison after refusing to pay a $6 billion “freedom fee” to Crown Prince Mohammed Bin Salman to secure his freedom, the flamboyant billionaire and Twitter investor appears to […]

In Davos, the global elite ponders on income inequality, lack of trust in leaders

The heaviest snowfall to hit Davos in decades saw heaps of snow piling up high all around this scenic Swiss Alpine resort. It made for breathtaking sights for the thousands of business and political leaders attending the World Economic Forum meeting over the past week. The experienced skiers among them would have relished the prospects […]

Tanker With Russian Gas to Land in Boston Over the Weekend

The tanker carrying Russian natural gas that’s been sitting outside of Boston Harbor for days will probably land over the weekend, according to the U.S. Coast Guard. The Gaselys carries liquefied natural gas originally produced in Siberia, according to vessel tracking data. The ship, poised to dock at Engie SA’s Everett import terminal, would be […]

A new analysis says global demand for oil will peak by 2030

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The global demand for crude oil will peak in 2030 as electric vehicles continue to chip away at the market for gasoline-powered cars and trucks. So say analysts with Bank of America Merrill Lynch, who predict that EVs will grow to 40 percent of new-car sales worldwide over the next 12 years. “Electric vehicles will […]

The Dollar Saga Continues

There are several headwinds to the present and future value of the Dollar. The casual observer might think that it has to to with the government shutdown, or the petty politics in Washington. With the latest shutdown ending hours ago, the next potential shutdown lies just weeks ahead. While both of those things are currently […]

I Have Seen the Future’s Best-Selling Autonomous Vehicle, and It’s Not What You Think

The race to make fully autonomous vehicles is on. Technology companies like Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL), Nvidia (NASDAQ: NVDA), and Intel (NASDAQ:INTC); ride-sharing services like Uber and Lyft; and seemingly every auto manufacturer are putting in serious work to get a self-driving car on the road. While all eyes in the U.S. are on promising projects — […]

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