Shadows picked up by satellites suggest Saudi Arabia underreported its oil stores last year

Saudi Arabia reported falling oil reserves last year and agreed as part of OPEC to extend production cuts into 2018. LONDON — Satellite imagery of two of Saudi Arabia’s largest oil refineries suggests the kingdom may have underreported its oil stores in the first half of 2017. Satellite images gathered by the tech startup Bird.i […]

Europe Becomes Victim Of Russia’s Newest Oil Strategy

Higher shipments of Russian crude oil to China may saddle European importers with a fatter bill, an industry consultancy warned at the end of last year, noting the latest stage of Russia’s Eastern pivot: the launch of the expanded East Siberia-Pacific Ocean pipeline that would lift Urals crude supply to China twofold, to 30 million […]

Saudi Arabia Considers Adding to $10 Billion Loan

Saudi Arabia is considering increasing the size of a $10 billion loan after banks on the 2016 deal offered to lend more, people familiar with the matter said. Lenders are in talks with the government to increase the amount it borrowed, said the people, asking not to be identified because the discussions are private. Another […]

The end of the internal combustion engine

The adoption of the internal combustion engine, a revolutionary invention that took the power of the steam locomotive and made it more compact and convenient, saw horse-drawn carriages moved from the streets to the history books within 15 years. Enormous fortunes were made, everyday life was transformed and cityscapes were reimagined. Now, almost a century […]

Five oil market myths that need dispelling

The oil market has come to be defined by several narratives over the past couple of years: market rebalancing, OPEC versus shale, Russia’s delicate relationship with OPEC, OPEC’s conformity with production cuts with the latest deal extension running to end of 2018 and shale’s resilience to lower prices. But these frameworks have created a narrow ideology that could […]

China Is About To Shake Up Oil Futures

The “huge story”, as Graticule’s Adam Levinson called it, will, it appears, be a “wake up call” for the West that seems to happily be ignoring this potential bombshell that is China’s looming launch of domestic oil futures trading. Additionally, Levison warns Washington that besides serving as a hedging tool for Chinese companies, the contract will aid a broader Chinese government agenda […]

Recent Developments in Advanced Reactors in China, Russia

China Reported to Commit $3 billion to Development of Molten Salt Reactor Designs. China Begins Construction of a 600 MW Fast Reactor. Taishan 1 EPR Startup Delayed to 2018. Russia to Build Fast Reactor Fuel Plant for Brest-OD-300 Reactor. English language media reports indicate that the Chinese Academy of Sciences has announced plans to invest […]

Kunstler: Fairy Tale

Am I imagining that Oprah Winfrey launched her presidential campaign last night at the Golden Globes Awards? Well, why not? Unlike the Golden Golem of Greatness, skulking fiery and furious in his lonesome White House tweet chamber, Americans of all identity persuasions love Oprah. Unlike the president, who attained “stable [for now] genius” status without […]

Bioplastics Threaten Big Oil

What sector will account for the largest source of oil demand growth over the next two decades? Most people might assume transportation, with hundreds of millions of people in the developing world acquiring cars for the first time. However, according to the International Energy Agency (IEA), the petrochemical industry will represent the largest source of […]

Inevitable Job-Growth Slowdown Could Be a Good Thing

The U.S. economy is still creating lots of jobs, with a seasonally adjusted 148,000 added in December and 2.2 million (not seasonally adjusted, for reasons I discuss below) for full-year 2017, according to Friday’s employment report from the Bureau of Labor Statistics. That 2.2 million is up a little (93,000 jobs, to be misleadingly precise […]

Hawaii’s existential choice: Tourism, food and survival

Hawaiians used to feed themselves quite easily on this island paradise. With the arrival of Europeans and Americans came European and American ideas about plantation agriculture. Hawaii became a producer of coffee, sugar, pineapple, papaya, rice and other plantation crops. While destroying Hawaii’s diverse food system, the growers created a prosperous agricultural trading economy with […]

Death of a Mall Man

    Discuss this article at the Economics Table inside the Diner Death of a Salesman was written by Arthur Miller in 1947, and is widely considered one of the greatest plays of the 20th Century.  It’s a play about broken dreams and the lifetime failure of the protagonist, Willy Loman.  It’s a sad and […]

Malthus was Real

“Must we not go with either a bang or a whimper, but in an orgy of mutual self-gratification, and congratulations?“   What good is it to escape the climate gallows if, as we walk out the jail door into the sunlight, we are greeted in the courtyard by Malthus, bearing a sythe? On the sythe […]

What does peak oil demand mean for the future of gas?

In our final editorial in our peak oil demand series, we look at the consequences of peak oil demand on gas. Many oil majors are talking about reshaping their supply portfolio towards gas in response to concerns about peak oil demand. Massimo Di Odoardo, Vice President, Gas Research talks us through the potential for gas […]

Ex-Iranian president Ahmadinejad arrested for inciting unrest

According to Arab paper, former leader’s comments against Rouhani government amid rallies have led authorities to seek to place him under house arrest Former Iranian president Mahmoud Ahmadinejad has been arrested by authorities for allegedly inciting unrest against the government, the London-based daily Al-Quds Al-Arabi reported Saturday, citing “reliable sources in Tehran.” The newspaper said […]

Why Germans Are Being Paid To Use Power

Germany’s drive to use renewable sources of energy seems to be bearing fruit. Beginning last weekend, prices for electricity in the country declined below zero.   That means consumers are being paid to use the power, rather than the other way around. This isn’t even the first time this has happened. According to one of […]

Eleven Saudi princes detained following protest

Saudi authorities have detained 11 princes after they gathered at a royal palace in Riyadh in a rare protest against austerity measures that included suspending payment of their utility bills, Saudi media reported on Saturday. Saudi officials did not respond immediately to a request for a comment on the report. reuters

Will Oil Majors Really Sink Money Into America’s Waters?

Energy dominance begins at home, and that includes any beachfront property you might have. The Interior Department unveiled on Thursday a draft proposal for leasing areas of the U.S. outer continental shelf for oil and gas drilling between 2019 and 2024. As five-year plans go, it’s an ambitious one, envisaging leasing on fully 25 out […]

In 2017, The Myth of Powering the World with 100% Renewables Has Started to Crack

When thinking about 2017, it is easy to see the bankruptcy of Westinghouse and the subsequent cancellation of its Summer project in South Carolina as this year’s big issue.  But as the year has drawn to a close, the continuation of its AP1000 project at Plant Vogtle in Georgia has been approved by the regulator […]

US Sanctions Five Iranian Entities, Signals More Measures

The U.S sanctioned five Iranian entities for their work on the nation’s ballistic missile program and signaled that more punitive measures lay ahead in response to the Islamic Republic’s suppression of anti-government protests. The entities, none of which are publicly traded, are being designated for being owned or controlled by Iran’s Shahid Bakeri Industrial Group, […]

America could become oil king of the world in 2018

The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, according to research firm Rystad Energy. Surging shale oil output should allow the United States to dethrone Russia and Saudi Arabia as the planet’s leading crude oil producer, Rystad predicted in a recent […]

The Deep State’s Plan ‘C’ – Murder Donald Trump?

Longtime Donald Trump advisor and confidante Roger Stone is warning once again about the deep state. This time, he said that the deep state’s “plan C” is to simply murder the president, since plans A and B won’t work out.   With trust in the mainstream media at an all-time low, the global elitists are on […]

New Pipeline Doubles Russian Crude Oil Supply To China

Russia quietly doubled its crude oil export capacity to China in the new year when it launched a new pipeline, cementing its position as the number one supplier of crude to its Asian neighbor. The extension of the East Siberia-Pacific Ocean, or ESPO, oil pipeline between Russia and China started operating on January 1, doubling […]

Geopolitical risk may be the factor to watch in 2018 for oil

A U.S. president eager to advance an agenda of energy dominance, and a market with no room for risk, means 2018 may be one for the geopolitical books. The New Year started with Iran in the grips of one of its worst bouts of political unrest since the Green Revolution in 2009 brought the first […]

Russia Boosts 2017 Crude Oil Production To 30-Year High

OPEC’s crude production held steady in December as the group approached a fresh year of output curbs in full compliance with its supply deal. The 14 members of the Organization of Petroleum Exporting Countries pumped 32.47 million barrels a day, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Libya saw […]

Build a global Earth observatory

An enclosure for measuring gas exchange between plants and the atmosphere at a station in Finland.Credit: Juho Aalto Climate change. Water and food security. Urban air pollution. These environmental grand challenges are all linked, yet each is studied separately. Interactions between Earth’s surface and the atmosphere influence climate, air quality and water cycles. Changes in […]

A Dangerous Year

‘Tis the season for making predictions about the events lurking in wait for us all in the upcoming year, and I see no reason to demur from that common if risky habit. Those of my readers who’ve been following my blog since the days of The Archdruid Report know that my method in making these […]

A Quarter of the World’s Population Could be Living in a Desert If Paris Agreement Isn’t Met

Buzz60 is designed for the way we live now. Short, quirky video snacks that are a little sassy, and always smart. Buzz 60 — and the Buzz60 channel on YouTube – produces all kinds of news video clips for web viewers who want more than just repurposed content. Our team is a diverse group of […]

The Book That Incited a Worldwide Fear of Overpopulation

As 1968 began, Paul Ehrlich was an entomologist at Stanford University, known to his peers for his groundbreaking studies of the co-evolution of flowering plants and butterflies but almost unknown to the average person. That was about to change. In May, Ehrlich released a quickly written, cheaply bound paperback, The Population Bomb. Initially it was […]

BP Expects U.S. Earnings Uplift From Tax Reform

Oil giant BP will take a one-off $1.5 billion charge to adjust to new U.S. tax rules, joining rival Royal Dutch Shell and other companies, but expects a long-term boost from the corporate-friendly tax rates, it said on Tuesday. The massive $1.5 trillion tax overhaul that U.S. President Donald Trump signed into law last month […]

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