Caitlin Johnstone: Imagine If Saudi Arabia Was Not A US Ally

The US Senate has voted 56 to 41 to sorta-kinda eventually end America’s part in the Saudi-led war in Yemen, one step out of a great many that will need to happen in order to end the worst humanitarian crisis on the face of the earth. The joint resolution still allows US drones to patrol Yemeni […]

Oil God Forecasts Price Move

If you want to place a bet on oil right now, you’re probably better off betting on it going up than going down. If you want to place a bet on oil right now, you’re probably better off betting on it going up than going down. That’s what Andy Hall, an oil trader nicknamed God, […]

Kunstler: Sleepwalkers Awoke!

Andrew Sullivan called it “the Great Awokening” in a shrewd New York Magazine column this week. He refers, off course, to earlier episodes of American religious hysteria, namely the Great Awakening of the 1730s that featured the Rev. Jonathan Edwards raining sulfur and brimstone down on guilt-wracked New Englanders, and then the Second Awakening of […]

Last Week, The US Ended Its Reliance On Foreign Oil

For the first time in 75 years, the U.S. became a net exporter of oil last week. From Bloomberg: The shift to net exports caps a tumultuous week for energy markets and politics. OPEC and its allies are meeting in Vienna this week, trying to make a tough choice whether to cut output and support […]

Hess Corp sees oil output growing 10 percent per year through 2025

Hess Corp said on Wednesday it expects oil and gas output to grow more than 10 percent a year compounded through 2025, touting development of its Bakken shale and offshore Guyana projects. Pumpjacks taken out of production temporarily stand idle at a Hess site The company projects higher margins will drive compound annual cash flow […]

Carbon Civilisation and the Energy Descent Future

Just as the bird’s nest, the badger’s lodge and the bees’ hive require investments of energy for their construction and maintenance, so too with human settlements. Taken to the extremes of scale and intricacy, settlements in the form of cities constitute humanity’s most energy-intensive creations. In fact, cities might be viewed as meta-creations that enable […]

Market Could be Oversupplied by 2020

The market could be quite tight in the first half of 2019 but oversupplied again by 2020, according to a new industry note from Jefferies, which was sent to Rigzone on Thursday. “The combination of OPEC+ cuts, curtailments in Canadian production and further sanctions-related declines in Iranian exports should be sufficient to drive OECD inventories […]

Why is it so Easy to Lie to Us? The Case of Russia and Climategate

Our media feed us routinely with lies and the story of the involvement of the Russian Secret Service with the Climategate hack is just one of them. I thought it was worth discussing it here in light of the fact that it is one of the most blatant lies I could ever find. Also a […]

US to ‘end 2018 as world’s top oil producer’

U.S. crude oil output growth was expected to slow slightly for this year compared with previous forecasts, the Energy Information Administration said on Tuesday, but at a record 10.88 million barrels per day, the nation will end 2018 as the world’s top producer. Output this year was forecast to rise 1.53 million bpd to 10.88 […]

Saudi oil output at 11.1 Mmbpd in Nov.

Saudi Arabia’s oil minister Khalid Al-Falih said Friday the kingdom produced 11.1 million barrels per day (Mmbpd) in November, but should reduce production by 400,000 Bpd in December amid lower demand, Kallanish Energy reports. Speaking at a press conference in Vienna after the 5th Opec/Non-Opec meeting, Al-Falih said loadings for December were falling and customers were being notified […]

How Plutocratic Media Keeps Staff Aligned With Establishment Agendas

Why do mainstream media reporters within ostensibly free democracies act just like state media propagandists? Why are they so reliably pro-establishment, all throughout every mainstream outlet? Why do they so consistently marginalize any idea that doesn’t fit within the extremely narrow Overton window of acceptable opinion?Why does anyone who inconveniences western establishment power always find […]

Permian Oil Reserves May Be Twice As Big As We Thought

The U.S. Geological Survey has revised the technically recoverable reserves in the Wolfcamp Basin, in the Permian shale play, to 46.3 billion barrels of crude and 281 trillion cu ft of natural gas. That’s up from 20 billion barrels of crude and 16 trillion cu ft of gas in recoverable reserves in late 2016. It’s […]

Uber, Moore’s Law and the limits of the technofix

Uber remains a darling of the tech world. It is regarded as a disruptive upstart that recognized the unused capacity of privately-owned automobiles and their owners. It unleashed that capacity on cities worldwide using cellphone technology to provide discount rides to customers, ones who might otherwise have taken traditional taxis or public transportation. It’s a […]

The Sound of a Second Shoe Dropping

“To avoid the worst of the predicted outcomes, global carbon emissions must be cut by half by 2030, to zero by 2050.“ Montage by author of images from Bartek Sadowski, Bloomberg Polish coal mining supplies 80% of the power to the UN climate summit.    A comment on one of my Facebook posts helped me […]

The ‘Everything Bubble” Has Popped

Now that the world’s central banking cartel is taking a long-overdue pause from printing money and handing it to the wealthy elite, the collection of asset price bubbles nested within the Everything Bubble are starting to burst. The cartel (especially the ECB and the Fed) is hoping it can gently deflate these bubbles it created, but that’s […]

I’m Burned Out On Collapse And I Bet You Are Too

The Hidden Psychological Toll of Living Through a Time of Fracture   It was around Thanksgiving that I noticed that all I wanted to do was sleep. And it wasn’t the leftover turkey. My mind felt bruised to a livid purple welt. Just thinking felt — disturbingly — painful. My bones felt as weary as dust. And that fine dust […]

Largest oil, gas resource ever assessed identified in Texas

The U.S. Geological Survey has determined that a vast shale field in West Texas and New Mexico could yield 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids, the agency said in a press release Thursday. The Wolfcamp Shale and overlying Bone Spring Formation […]

Saudi America Continues Energy Dominance

In 1956, geologist M. King Hubbert presented a paper to the American Petroleum Institute in which he warned that new reserve discoveries failed to keep up with the rate of fossil fuel consumption. Hubbert accurately predicted the domestic production peak of the 1970s, making him synonymous with the term “peak oil.” However, he failed to […]

Peak Oil 20 Years Later: A Comment by Colin Campbell

Colin Campbell illustrating the concept of oil depletion. Colin Campbell is the originator of the concept of “peak oil,” the founder of the “Association for the study of peak oil and gas” (ASPO) and, together with Jean Laherrere, the author of the 1998 article on “Scientific American” that started a  wave of interest in oil […]

OPEC’s Bigger Problems

The Organization of Petroleum Exporting Countries (OPEC) decision to cut oil production by 1.2 million barrels a day (b/d), together with Russia and a few other non-OPEC producers, may have garnered the organization’s members a few extra dollars temporarily, but it belies larger problems ahead for the 57 year old cartel. OPEC has weathered many […]

Maduro: All Venezuelan Oil Will Be Sold In Petro Cryptocurrency

Venezuela’s President Nicolas Maduro said on state television that Venezuela would put in place in 2019 a program to sell all its oil production in the Petro cryptocurrency, which the leader is touting as the first state-backed oil-backed digital currency. Gradually, Venezuela will sell all its oil production in Petro, Maduro said during a visit […]

World Bank Warns Of Extreme Volatility In Oil Markets

After several months of oil price rises and then a sharp reversal over the last few weeks, world oil markets are in for more heightened volatility next year because of scarce spare production capacity among OPEC members. This warning comes from the World Bank, which in the latest edition of its Russia Economic Report said […]

Kunstler: Capture the Flag

A titanic battle between Mr. Trump and his antagonists looms in the political gloaming of the new year. It may not be resolvable by conventional means since the Intel and Justice agencies have been leading a two-year coup-by-subterfuge against the president, with Robert Mueller as the spearhead, leaving a slime-trail of sedition and prosecutorial misconduct […]

Over Half of the World’s Tropical Forests Have been Destroyed

UN Biodiversity Conference in progress in Sharm el Sheikh, Egypt. The conference ends November 29. Credit: International Institute for Sustainable Development (IISD) SHARM EL SHEIKH, Egypt, Nov 28 2018 (IPS) – Biodiversity conservationists have revealed that at least 10 more percent of land than what is currently being used to grow green crops will be […]

The Bush legacy in the Gulf

Last Saturday, as world leaders and the international media reacted to news that George HW Bush had passed away, three landmark towers in Kuwait City were lit up with the portrait of the former US president and the US and Kuwait flags. This was one of many tributes to a man Kuwaitis credit with liberating […]

Analysis: Fossil-fuel Emissions in 2018 Increasing at Fastest Rate for Seven Years

Hopes that global CO2 emissions might be nearing a peak have been dashed by preliminary data showing that output from fossil fuels and industry will grow by around 2.7% in 2018, the largest increase in seven years. The new data, from researchers at the Global Carbon Project (GCP), is being published in Earth System Science Data Discussions and Environmental Research Letters to […]

Beef-eating ‘must fall drastically’ as world population grows

People in rich nations will have to make big cuts to the amount of beef and lamb they eat if the world is to be able to feed 10 billion people, according to a new report. These cuts and a series of other measures are also needed to prevent catastrophic climate change, it says. More […]

What OPEC+ Must Do for Oil to go Above $70 in 2019

OPEC+ countries must cut 2019 supply growth by 1.5 million barrels per day if they want oil prices back above $70 per barrel next year, according to Rystad Energy. “We believe a cut announcement that effectively removes anything less than one million barrels per day of 2019 supply would be interpreted negatively by the market,” […]

Resources Are Almost 5 Times as Abundant as They Were in 1980

Humanity is enjoying a world of increasingly cheap and ever more abundant mineral, argicultural, forestry and energy resources reports a brilliant new study, the Simon Abundance Index. This analysis by Marian Tupy,* editor of Human Progress at the Cato Institute, and Professor Gale Pooley from Brigham Young University – Hawaii uses data on 50 different […]

Jean Laherrère: Thoughts on the Future of World Oil Production

I have spent my professional career as a geologist-geophysicist involved in oil and gas exploration on every continent, and have been an active participant in the peak oil debate during the past quarter century (petroleum geologist Colin Campbell and I were instrumental in initiating that debate via our article, “The End of Cheap Oil” published […]

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