Peak Oil is You

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News from January 2019

Global predictions for 2019

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* Global predictions for the world economy are less optimistic than in 2018. * Many countries also expect public unrest in the coming year. * After a hot 2018, most expect global temperatures to continue to rise. The latest Ipsos Global Advisor poll was carried out in 31 countries around the world at the end […]

The Future Is Asian: An Interview With Parag Khanna

“The future is Asian” according to geopolitical strategist Parag Khanna. In his new book, Khanna argues that we are witnessing a tectonic shift in global power. If the 19th century belonged to Europe, and the 20th century to the United States, then the 21st century now belongs to Asia. Beyond the era of Western hegemony, Asia is returning […]

Peak Gold and the Coming Supply Crunch

During the lackluster and otherwise unremarkable trading of 2018, a hugely important development took place in the precious metals markets. Gold production, in the estimation of some top industry insiders, peaked. Peak gold represents the point at which the total number of ounces being pulled out of the ground by miners reaches a maximum. It […]

It’s fossil fuels that are keeping Americans warm this week

What the AccuWeather service calls “the coldest weather in years” is gripping the nation, from Wisconsin to Alabama. The temperatures, AccuWeather says, “will put millions of people and animals throughout the Midwestern United States at risk for hypothermia and frostbite to occur in minutes during the final days of January.” The only real defense against […]

Treasury sanctions Venezuela state-owned oil firm

The Trump administration will sanction Venezuela’s state-owned oil firm, a move the White House has long put off for fear that it would raise oil prices and hurt American refiners. The move comes after a turbulent week for Venezuela that has created a standoff over the country’s leadership. The sanctions aim to transfer control of […]

Venezuela and oil

It was a Venezuelan, Juan Pablo Pérez Alfonso, one of the founding fathers of Opec, who described oil as “the devil’s excrement”, and his country’s dismal recent history proves his point. Venezuela holds what are generally reckoned to be the world’s largest proved oil reserves, but mismanagement has sent its economy into freefall, and the […]

Is China’s plan to use a nuclear bomb detonator to release shale gas

China is planning to apply the same technology used to detonate a nuclear bomb over Hiroshima during the second world war to access its massive shale gas reserves in Sichuan province. While success would mean a giant leap forward not only for the industry but also Beijing’s energy self-sufficiency ambitions, some observers are concerned about […]

Chris Martenson: Collapse Is Already Here

Many people are expecting some degree of approaching collapse — be it economic, environmental and/or societal — thinking that they’ll recognize the danger signs in time. As if it will be completely obvious, like a Hollywood blockbuster. Complete with clear warnings from scientists, politicians and the media. And everyone can then get busy either panicking […]

Is An Oil Supply Crunch Looming?

The global oil and gas industry is poised to increase spending this year, albeit modestly, in a bid to boost supply after a punishing period of low oil prices. The industry has succeeded in cutting costs and speeding up project timelines, achievements that will help companies adapt to a market that may never return to […]

Saudi Aramco CEO: “Not losing any sleep over ‘peak oil demandʼ or ‘stranded resourcesʼ” and the reality of energy transition.

Full Text of Remarks Here Basically it boils down to this… Neither regulatory malfeasance, nor greenie-weenie unicorn wishes nor dimwitted fossil fuel divestment protests will bring down the oil industry or fossil fuels in general. The world will need petroleum, natural gas and coal well-into the 21st century. Misguided efforts to deny access to capital […]

Peak Oil Theory’s No Good Terrible Very Bad Week

Just when you thought continued belief in any of the various brands of “Peak Oil” theory could hardly become less sustainable, you get a week like this one. No matter whether you come at Peak Oil from the supply side or the demand side, several events this week would have had to put you in […]

Russian Troops Reportedly Descend On Venezuela To Help Protect Maduro’s Regime

Russia has reportedly sent a contingent of shadowy private military contractors to Venezuela to help President Nicolás Maduro fend off a challenge to his authority from the President of the country’s National Assembly, Juan Guaido. It’s unclear what their exact orders might be, but whether they’re in the country to protect Maduro himself, assist government […]

Russia, China, India, & Iran: The Magic Quadrant That Is Changing The World

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With the end of the unipolar moment, which saw Washington dominate international relations, the richest and most powerful Eurasian countries are beginning to organize themselves into alliance structures and agreements that aim to facilitate trade, development and cooperation. At the height of the US unipolar moment, Bill Clinton was leading a country in full economic […]

Saudi Arabia: We’ll Pump The World’s Very Last Barrel Of Oil

Saudi Arabia isn’t buying the peak oil demand narrative. OPEC’s largest producer continues to expect global oil demand to keep rising at least by 2040 and sees itself as the oil producer best equipped to continue meeting that demand, thanks to its very low production costs. Saudi Arabia will be the one to pump the […]

Kunstler: In the Deep Mid-Winter

Ill winds sweep across the fruited plain in the cruel heart of winter. America can resolve nothing. The state-of-the-union is a kind of hysterical nausea, and the nation hunkers into its crib of toxic diverse identities waiting for history to bitch-slap it back on its feet. History’s big sister, Reality, stands by, witnessing all. Spring… […]

$90 Oil More Likely Than $40 Oil

$90 per barrel oil is more likely than $40 per barrel oil. That’s according to Majid Jafar’s, CEO of Cresent Petroleum, who expressed the view in a television interview with CNBC on Thursday. “I’m an optimist. I actually think there will be a [U.S.-China] trade deal. I actually think that despite some, you know, doom […]

US Oil Production 23 Years Ahead of Schedule

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A year ago, the U.S. government saw American crude production averaging 11.95 million barrels a day in 2042. Shale drillers are set to exceed that this year. The Energy Information Administration now estimates output will top out at 14.53 million barrels a day in 2031, according to its Annual Energy Outlook released Thursday. Why such […]

Iran to Launch ‘Massive’ War Drills

Iranian military leaders announced on Thursday that the Islamic Republic would be launching a “massive” set of war drills later this week that will include the regime’s Army’s Ground Force and some 12,000 “combat and mobile forces,” according to Iran’s state-controlled media. “The massive Eqtedar 97 war games of the Army’s Ground Force will be […]

Saudi Arabia looking to buy ‘billions of dollars’ of US natural gas assets

From Reuters: Saudi Aramco, the world’s top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend “billions of dollars” to become a global gas player, the company’s CEO said on Tuesday. Amin Nasser told Reuters in an interview that his company wants to increase its U.S. […]

Why do Societies Collapse? Diminishing Returns are a Key Factor

In 1988, Joseph Tainter published a fundamental study on the collapse of societies, proposing the existence of a common cause, diminishing returns, for the fact that all past empires and civilizations had eventually collapsed. Recently, myself and my coworkers Sara Falsini and Ilaria Perissi performed a system dynamics study that confirms Tainter’s ideas and […]

Why We Dominate the Earth

Why did Homo sapiens diverge from the rest of the animal kingdom and go on to dominate the earth? Communication? Cooperation? According to best-selling author Yuval Noah Harari, that barely scratches the surface. *** Yuval Noah Harari’s Sapiens is one of those uniquely breathtaking books that comes along but rarely. It’s broad, but scientific. It’s written for […]

Heinberg: Sooner or Later, We Have to Stop Economic Growth — and We’ll Be Better for it

Both the U.S. economy and the global economy have expanded dramatically in the past century, as have life expectancies and material progress. Economists raised in this period of plenty assume that growth is good, necessary even, and should continue forever and ever without end, amen. Growth delivers jobs, returns on investment and higher tax revenues. […]

The non-stop waste of water

Every year, water shortages affect more than one-third of the world’s population. In 2017, even Rome — ancient pioneer of urban water provision — saw its myriad public drinking fountains switched off. Environmental economist Edward Barbier plunges deep into these and other stories from the fascinating, often fraught world of water management past and present […]

Huge Backlog Could Trigger New Wave Of Shale Oil

The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow. The backlog of DUCs has continued to swell, […]

Suicide Attack on Kurdish-US Convoy ‘Kills 5’

A suicide bomber attacked a convoy of US troops and their allies in Syria on Monday, killing five members of a Kurdish-led force fighting the Daesh group, a monitor said. The assault, claimed by Daesh extremists, came less than a week after another deadly attack on US forces in Syria, and a month after Washington […]

What can you do to prepare when you can’t?

“A split vortex sending waves of cold into North America, Europe and Russia is what a warmer ocean does.” Photo by Joe Raedle/Getty Images “And the sixth angel poured out his vial upon the great river Euphrates; and the water thereof was dried up, that the way of the kings of the east might be […]

Most of world population backs globalism, not local movements

Maybe populist political movements don’t have as much support as often presumed. The global public favors cooperation between nations, thinks immigration is a good thing and believes climate scientists, according to a poll of 10,000 people in every region of the world. The poll was commissioned by the World Economic Forum and will be discussed […]

Oil Prices Jump As China Seeks To End Trade War

Oil prices were relatively quiet this week, bouncing around, but closed out the week on a positive note. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) Friday, January 18th, 2019 IEA: Balancing oil market will be a “marathon.” The IEA said in its latest Oil […]

Death Toll Reaches 79 in Mexico Fuel Pipeline Fire Horror

They were warned to stay away from the geyser of gasoline gushing from the illegally tapped pipeline in central Mexico, but Gerardo Perez says he and his son joined others in bypassing the soldiers. As they neared the spurting fuel he was overcome with foreboding. Perez recalls telling his son: “Let’s go … this thing […]

Restart Iran And The Global Awakening

Harrison Smith talks to Infowars reporter Greg Reese about his work with the Iranian populist movement known as Restart.They discuss how the entire world seems to be awakening together in a spiritual battle against deceit, wizardry and elitist control freaks. The Restart movement is a prime example of how the worldwide revolution has the global […]

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