The bulls are wrong — here’s why oil could plummet to $45

The oil price rebound that has buoyed many embattled crude producers may not last. Ed Morse, managing director and global head of commodities research at Wall Street bank Citigroup Inc. and one of the world’s top oil forecasters, believes Brent oil prices – which are currently trading near US$72.50 per barrel and have tried to […]

Big Oil Is Raking in Cash

The dark storm clouds that have been hanging over the oil industry during the crude-price slump have suddenly started raining cash. After cutting billions of dollars of costs to survive the biggest downturn in decades, Big Oil is now riding a price rebound to generate enough cash to pay dividends and still have plenty left […]

Pave Over the Subway? Cities Face Tough Bets on Driverless Cars

A quiet moment on the New York subway. Because it’s so hard to predict the future of transit, some technologists feel a key is to keep options open by laying concrete and letting innovators design what rides on top of it. By definition, rail precludes all possibilities other than a train.CreditEdu Bayer for The New […]

US crude oil output hits 11 million barrels per day for first time ever

U.S. crude oil production last week hit 11 million barrels per day (bpd) for the first time in the nation’s history, the Energy Department said on Wednesday, as the ongoing boom in shale production continues to drive output. The gains represent a rapid increase in output, as the data, if confirmed by monthly figures, puts […]

Iran leader backs suggestion to block Gulf oil exports if own sales stopped

Iran’s Supreme Leader Ayatollah Ali Khamenei on Saturday backed President Hassan Rouhani’s suggestion that Iran may block Gulf oil exports if its own exports are stopped and said negotiations with the United States would be an “obvious mistake”. Iran’s Supreme Leader Ayatollah Ali Khamenei delivers a speech in Tehran, Iran, June 4, 2017. TIMA via […]

How Cars Divide America

Urbanists have long looked at cars as the scourge of great places. Jane Jacobs identified the automobile as the “chief destroyer of American communities.” Cars not only clog our roads and cost billions of dollars in time wasted commuting, they are a terrible killer. They caused more than 40,000 deaths in 2017, including of some […]

Permian Operators Not ‘Backing Down,’ But Marcellus Activity ‘Softening,’ Says Halliburton CEO

The CEO of North America’s leading pressure pumper Halliburton Co. said Permian Basin operators do not seem overly concerned about potential oil and natural gas takeaway constraints as activity continues to be strong. Jeff Miller led a conference call early Monday with his management team to discuss second quarter performance. The completion and production division’s […]

The Seneca Glass: Half Full or Half Empty?

  Optimist: the glass is half full. Pessimist: the glass is half empty. Catastrophist. It will not be half full for long. Cornucopian: We are running into water rather than out of it. Oil executive: The water level grows more the more we drink from the glass. Conspiracy Theorist: Water? What water? THEY want us […]

Kunstler: Russia Attacked Us

This idiotic fantasy congealed in the political matrix last week as everyone across the spectrum of parties and factions scrambled for patriotism brownie points in what is shaping up as an epic game of Capture-the-Flag for the mid-term elections. Listen to me for a moment, as our arch-nemesis Vlad the Putin said to Fox News […]

Iran Warns Trump Not To Cut Off Oil Exports, Threatens “Mother Of All Wars”

Iran’s president Hassan Rouhani warned the US not to threaten the nation’s oil exports, called for improved relations with its neighbors including arch-nemesis Saudi Arabia, and cautioned the US that a conflict with Iran would be “the mother of all wars.” “Don’t play with the lion’s tail, this would only lead to regret,” Iran’s leader […]

Fukushima’s nuclear signature found in California wine

Throughout the 1950s, the US, the Soviet Union, and others tested thermonuclear weapons in the Earth’s atmosphere. Those tests released vast quantities of radioactive material into the air and triggered fears that the nuclear reactions could ignite deuterium in the oceans, thereby destroying the planet in a catastrophic accidental fireball. Atmospheric tests ended in 1980, […]

Imagine a World Without OPEC

Imagine a world without OPEC. This is what the sponsors of legislation introduced in both houses of Congress seem to want. Versions of the “No Oil Producing and Exporting Cartels Act,” or the NOPEC bill, are working their way through the Senate and the House of Representatives, and are likely to find much more support from […]

Oil-Rich Iraq Can’t Keep the Lights On

Temperatures across southern Iraq are so high in the summer months that birds drop dead from the sky due to heat exhaustion. And tap water runs piping hot. So when Iraq’s power supply faltered this month as a heat wave ramped up air-conditioning demand, it ignited an angry question: Why can’t one of the world’s […]

You Can’t Stop A Wave But You Can Surf-3

“The struggle with any addict is to produce permanent change.“   Part Three Just when things seem most dire, and there is no possible escape, we catch another faint flicker of hope. In my two previous installments I laid out the predicament. By now anyone who has followed this blog for a while (and a […]

America The Insolvent

Watching the world these days, I’m experiencing the same fury that rises up from my gut when the driver in the car ahead me is weaving drunkenly, endangering everyone on the road. Fury is a normal and rational human response when threatened with unnecessary harm. Women who are groped (or worse) by a disgusting predator […]

Stop the hand-wringing, humankind will adapt and prosper

When people go public with private tears I am immediately suspicious. Not that I am against tears; as a physical reaction to emotion they are a fact of life best controlled in some circumstances but uncontrollable in others. But articles, tweets and interviews that deliberately lob personal tears into the public domain sound the alarm […]

The Sustainable Bioeconomy, a Path Towards Post-Extractivism

Ecuador has decided to move towards a bioeconomy-based development model, “which must be sustainable,” because otherwise “the remedy could be worse than the disease,” said the country’s Environment Minister Tarsicio Granizo, who is spearheading this innovative approach. In this interview with IPS, Granizo explained that the proposal represents a response to an extractivist model which […]

Prepare For The Imminent Economic Collapse 2018

Shocking video of the coming Economic Collapse and the next Great Depression. There have not been so many trouble signs for the global economy in a past few months. Analysts are sounding the alarm about junk bond defaults, the smart money is getting out of stocks at an astounding rate, mortgage rates are absolutely skyrocketing, […]

America’s Grids Are Not Ready For Summer Heatwaves

Los Angeles has had blackouts and soaring electricity prices. Electricity prices across the nation have jumped to as much as double for late summer. The Secretary of Energy is calling for subsidies to make otherwise noneconomic coal and nuclear power plants available to the grid. The taxpayers of New York have stepped up with a […]

Largest Unconventional Shale Producer in Permian Basin Created

Concho Resources Inc. has completed its acquisition of RSP Permian Inc., creating the largest unconventional shale producer in the Permian Basin. “We are excited to complete this transaction and welcome the RSP team to Concho,” Tim Leach, chairman and chief executive officer of Concho, said in a company statement. “By combining two great companies focused […]

Houston To Overtake Cushing As Key Hub

Houston is emerging as one of the great oil hubs in the world, and pretty soon it will be outfitted with an oil futures contract, which could cement its position. Intercontinental Exchange Inc. (ICE) announced plans to launch an oil futures with physical delivery in Houston, and the contract could launch as soon as this […]

Klanada’s Coming Pipeline War

This week on TFN we give you a peek into what could become Klanada’s Standing Rock and bring you updates from political prisoners in the United Snakes and Greece.

Global Warming Hysteria: Record Heat, Vanishing Sunspots, Co2, and Lawsuits

There’s record heat, but why? How do we measure it? What’s going on with sunspots? Blame the US? Answers below. Record Heat ​ Yes, there’s “record heat” thanks to the nonsensical way we measure temperatures. Mann-Made Warming Watts Up With That provides a humorous, but accurate, summation in Friday Funny: Josh on Mann-Made Warming. In […]

Saudi Arabia Says It Won’t Oversupply the Global Oil Market

Saudi Arabia rejected concerns that it’s planning to oversupply global oil markets and said it will actually trim crude exports next month. Under pressure from U.S. President Donald Trump to cool rallying prices, the kingdom bolstered production by the most in three years last month, pumping almost 10.5 million barrels a day. Yet it signaled […]

Global Population Growth Ceased In 1988…Population Has Only Grown Older Since Then

The world stopped growing about 1988… and has only grown older since. Global births, per five year periods, according to the UN.  Births and UN medium and low variant estimates through 2040…plus my best estimate of the most likely births.  Despite the significantly larger (older) total population, births continue to languish and appear set to decline.  Since […]

Wind Energy Is Getting Cheaper And Cheaper

Who would have thought wind’s transformation from subsidy-supported to self-financing power source would happen so quickly – not this publication, that’s for sure. Apart from diehard environmentalists, most consumers have been opposed to renewables on the basis they cost significantly more, and turbines are an eyesore on the landscape. But in the span of less […]

OPEC To Rule Oil Markets Till Peak Demand

More than a decade ago, China overtook the U.S. as the world’s biggest carbon dioxide emitter. Today, it’s going for a complete 360 with a hungry drive to beat the United States at the renewable energy game. After all, this is largely a technology game, and China hopes to be the global technology leader, according […]

Kunstler: Twelve Ham Sandwiches with Russian Dressing

So, former FBI lawyer Lisa Page declined to testify before a congressional committee because she didn’t feel like it. Apparently we’re now a rule-of-law-optional nation. Until recently, we were merely reality-optional. That was fun, but when officers of the country’s leading law enforcement agency go optional on standard legal procedure, like answering subpoenas, then we’re […]

Venezuela: The Key To Oil Prices

Summary Venezuela oil production has plummeted. Where would oil prices be without Venezuela’s collapse? Where are oil prices headed next? This idea was discussed in more depth with members of my private investing community, Value Portfolio. The world is accelerating into an energy crisis, and in this article, I explore the country that has played […]

Houston Is a Big Energy Hub, So Why Not Price Oil Futures There?

Houston is set to get its own oil futures, a sign of the city’s growing importance as the U.S. sends more crude abroad. Intercontinental Exchange Inc. ICE 0.66% is planning a new crude futures contract with physical delivery in Houston, the company said Tuesday. The contract will provide traders with direct access to Houston prices. […]

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