“We’re Our Own Worst Enemy” – Midstream Constraints Threatens Permian Shale Boom

The US now pumps a record 11 million barrels a day in oil, surpassing both Saudi Arabia and Russia, and becoming the world’s largest oil producer. Behind this historic achievement is America’s most productive region, the Permian Basin in west Texas and New Mexico, where approximately one-third of the nation’s daily supply is extracted from […]

Shell agrees to massive Canadian liquified natural gas project

Anglo-Dutch energy giant Shell and its partners have finally given the green light to an enormous liquified natural gas project in Canada. Shell has a 40% interest in LNG Canada and the remaining shares are held by Malaysia’s Petroliam Nasional, Mitsubishi, PetroChina and Korea Gas. Construction will start immediately, with the first LNG expected before […]

The global rise of the middle classes

More than half the world’s population is now middle class, researchers have calculated. The tipping point was reached this month when the number of people who qualify as middle class nudged to just short of 3.6 billion, presenting vast new markets for businesses but creating rising expectations of public services. The proportion is higher than […]

US Crude Soars to Fresh Multiyear High as Rally Continues

U.S. crude prices rose to their first multiyear high in more than three months on Monday, the latest sign that bullish optimism is spreading throughout the oil market as investors anticipate supply shortages. Light, sweet crude for November delivery climbed $2.05, or 2.8%, to $75.30 a barrel on the New York Mercantile Exchange, hitting its […]

$11tn global oil investment needed between 2018 and 2040

Between 2018 and 2040, the required investment in oil production would reach at least $11tn as the expected demand for oil will continue to increase to reach a peak of 113mn bpd by 2040, according to HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada. Al-Sada made the statement during his address […]

The SPR rumor is dead, long live the SPR rumor

When Saudi Arabia, Russia and other oil producing countries decided against a broad increase in crude output in Algiers last month, chatter began that the US was mulling a release from its government-owned oil stocks. When the Algiers meeting wrapped up, Saudi energy minister Khalid al-Falih told reporters that the market was balanced and that […]

Kunstler: Imaginary Monsters and the Uses of Chaos

The Kavanaugh hearing underscored another eerie condition in contemporary USA life that offers clues about the combined social, economic, and political collapse that I call the long emergency: the destruction of all remaining categorical boundaries for understanding behavior: truth and untruth, innocent and guilty, childhood and adulthood, public and private. The destination of all this […]

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