Energy leaders gather in Houston for the ‘Oil Man’s Davos’

Around 4,000 leaders of the global energy industry will gather in Houston, Texas today for the CERA Week forum — the annual event that has been called the “Oil Man’s Davos.” Top of the agenda, under the theme “Tipping Point — Strategies for a new energy future,” will be the new dynamics of the oil […]

Iran bans US dollar

The government of Iran imposed new restrictions on the use of the US dollar in the country. The use of the US dollar for import operations in the Islamic Republic of Iran has been banned from February 28, Forbes reports with reference to Iranian media.   Starting from February 28, any supply orders or other […]

The end of the Oil Age may be closer but more uncertain

Exactly when the world’s thirst for oil starts to ebb as a shift to cleaner, renewable energy gathers pace is increasingly occupying forecasters on both sides of the debate. The booming growth of renewable energy and high hopes for electric cars are seen equally as a challenge or a panacea by the producers of fossil fuels and environmental groups […]

The Syrian quagmire

The world was horrified yet again by gruesome images of Syrian children being torn to shreds by indiscriminate shelling and international media seems to have focused once again on the tragedy that is Syria. The conflict has intensified after Turkey launched Operation Olive Branch in the Kurdish-controlled Afrin district in Northern Syria. The operation began […]

United States as energy exporter: Is it “fake news”?

Much of the media coverage of the American energy industry implies that America has become a vast and growing exporter of energy to the rest of the world and that this has created a sort of “energy dominance” for the country on the world stage. Whether such reports qualify as so-called “fake news” depends very […]

Carbon Cool

“These stories have three things in common. They reverse climate change by gaining new respect for the element carbon upon which all life depends. They are powered by human ingenuity, working as part of, not against, nature. They are driven and emboldened by the astonishing, illimitable, force of youth.“  Sustainability is an overused and misused […]

Venezuela oil workers are dying of hunger – a military coup in 2018 seems inevitable

Starving Venezuelan oil workers are growing too weak for heavy labor. They are too fatigued to act quickly which leads to more fatal accidents. Crude oil makes up about 95% of Venezuela’s exports. The country has no other source of foreign income. Nextbigfuture predicts that the Maduro government will be overthrown in a military coup […]

Our Ocean Backyard: The Limits of the Earth

History tells us that a drought is never very far away from us here in California. After a total of 0.06 inches of rain in December, February was nearly as dry with just 0.30 inches by the end of February. Water covers about 71 percent of our planet’s surface, and we only have to look […]

PEMEX Suffers $18 Billion Loss

By Steve St. Angelo The situation in Mexico’s oil industry continues to rapidly disintegrate as falling oil production and rising costs resulted in an $18 billion fourth-quarter loss for the state-run oil company, PEMEX.  Part of the reason for the huge financial loss at PEMEX was the fall in the value of the Mexican Peso.  […]

Sharing the World’s Water Supply

Safe and readily available water is a crucial aspect for public health, but almost a billion people around the world lack basic access to such a necessity. In fact, 2 billion people globally rely on water sources that have been contaminated by harmful chemicals or bacteria. By the year 2025, half of the world’s population […]

Trump pushes Big Corn and Oil to break biofuels deadlock

U.S. President Donald Trump urged representatives from the rival oil and corn industries on Thursday to break a deadlock in talks over the future of the nation’s biofuels policy by accepting a deal involving reforms sought by both sides. FILE PHOTO: The Philadelphia Energy Solutions oil refinery is seen at sunset in front of the […]

Paul Ehrlich’s Epic Fail: Why The ‘Population Bomb’ Never Exploded

“The battle to feed all of humanity is over. In the 1970s the world will undergo famines – hundreds of millions of people are going to starve to death…”– Paul R. Ehrlich, The Population Bomb Published in 1968, Paul R. Ehrlich’s book The Population Bomb sold more than 3 million copies. The book turned this […]

Venezuelan crisis: All the oil, but no food

Alejandro Manuel Mago Coraspe is an inmate at the Vista Hermosa prison in Bolivar, a city in northern Venezuela. The 41-year-old is serving a nine-month sentence for vehicle theft. He was hospitalised recently for complications from food poisoning. Coraspe was so hungry that he ate dead rats found in the prison’s garbage dump, and the […]

The Folly of Long-Term Forecasts

In late January, Brexit minister Steve Baker suggested the Treasury had put together 15-year economic projections designed to show “all options other than staying in the customs union were bad.” Though he later walked the statement back, to some, it supported suspicions of government agencies’ complicity in “Project Fear”—an effort to scare Brits out of […]

Global pessimism amid plenty

By Michael Spence/Milan A few years ago, I wrote a book called The Next Convergence, about how developing economies were “catching up” to their advanced counterparts in terms of income, wealth, health, and other measures of well-being. I looked not just at how these countries had achieved rapid growth – including the central role played […]

A Global Perspective On The Outlook For Oil Prices

Summary IEA, EIA projections point to significant supply growth in 2018. However, global upstream investment remains depressed as the market relies almost exclusively on anticipated growth in US output to meet growing global demand. Offshore oil production accounts for 30% of total global oil production and as such remains a key component of the global […]

Does saving lives mean an overpopulated world?

No, and there’s a very good reason why not. In the 2018 Annual Letter event of the Gates Foundation, American entrepreneur and Microsoft founder Bill Gates chose a tough question to answer. Does saving lives contribute to over-population? Gates took up the question asked by many. As people get healthier and live longer, will feeding […]

Royalties: Why Some Strike It Rich In The Natural Gas Patch, And Others Strike Out

Marie Cusick / StateImpact Pennsylvania Jim Barrett stands next to a wellpad on his farm in Bradford County. He says Chesapeake Energy, which drilled four natural gas wells on his land, is cheating him out of royalty money. When natural gas companies approached Charlie Clark and Jim Barrett about the minerals under their farms, the […]

Exxon Quits Some Russian Joint Ventures Citing Sanctions

Exxon Mobil Corp will exit some joint ventures with Russia’s Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner. The move is an about-face for Exxon, which had opposed the sanctions over Russia’s invasion of Crimea and argued they unfairly […]

Bribery in the Energy Market – More than Bags of Cash

At the mention of corruption in oil and gas, it’s easy to first think of scandals such as the billion-dollar securities settlement from Brazil’s state-owned oil company Petrobras, but truth is, following the industry downturn, energy service companies remain eager to jump at new opportunities in international markets. With increased competition for these emerging opportunities […]

Peak Oil? What Peak Oil?

On February 23, 2018, this from the blog: Peak oil? What peak oil? During the past two years there have been numerous articles on lack of investment in offshore projects which some suggest are desperately needed to forestall a shortage of oil in the out year (think, “Peak Oil”). Today, from a GlobalData press release: […]

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