Venezuela’s Collapse is a Window into How the Oil Age will Unravel

For some, the crisis in Venezuela is all about the endemic corruption of Nicolás Maduro, continuing the broken legacy of Chavez’s ideological experiment in socialism under the mounting insidious influence of Putin. For others, it’s all about the ongoing counter-democratic meddling of the United States, which has for years wanted to bring Venezuela — with its huge […]

Russian Oil Output Has Not Peaked Yet

Russian oil production has not yet reached its peak and expectations that it could decline in the next few years are not justified, Alexei Sazanov, head of the finance ministry’s tax department, said on Monday. Sazanov also said the government would take necessary steps if it saw risks of a decline in oil production. Russia’s […]

Why All Anti-Interventionists Will Necessarily Be Smeared As Russian Assets

When Hawaii congresswoman Tulsi Gabbard announced her candidacy for the presidency on CNN last month, I had a feeling I’d be writing about her a fair bit. Not because I particularly want her to be president, but because I knew her candidacy would cause the narrative control mechanizations of the political/media class to overextend themselves, […]

Mutiny Breaks Out At Venezuela’s Central Bank

While the world obsesses how much longer Venezuela’s Nicolas Maduro can remain in power before he loses the support of the local military or the US deploys yet another “humanitarian mission” to depose him, forcing the embattled dictator to place several tons of the country’s dwindling gold on a cargo plane to a non-extradition destination […]

Gail Tverberg on Peak Oil

A few years ago, especially in the 2005-2008 period, many people were concerned that the oil supply would run out. They were concerned about high oil prices and a possible need for rationing. The story was often called “Peak Oil.” Peak Oil theorists have also branched out into providing calculations that might be used to determine […]

Air strike may have killed Iraqi civilians

The Australian Defence Force (ADF) says its fighter jets may have caused the deaths of up to 18 civilians in a strike on Islamic State (IS) militants in Iraq. The incident in 2017 was part of the US-led coalition’s bid to retake Mosul. However, the ADF said it was impossible to “definitively know” whether its […]

Saudi Oil Output Cuts Exceed OPEC Pledge

OPEC crude output fell the most in two years last month as the group implemented almost 80 percent of its new production cuts deal. Top exporter Saudi Arabia cut deeper than pledged, while its close allies the United Arab Emirates and Kuwait also made sizable reductions. Those deliberate curbs were compounded by involuntary output drops […]

The Great Oil Paradox

The shale boom has created a world awash with crude, putting a lid on prices and markedly reducing U.S. dependence on imported energy. But there’s a growing problem: America is producing the wrong kind of oil. Texas and other shale-rich states are spewing a gusher of high-quality crude — light-sweet in the industry parlance — […]

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