Peak Oil is You

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News from March 2019

‘Doomsday vault’ town warming quicker than any other on Earth

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The world’s northernmost settlement and home to what is known as the “Doomsday vault” – the subterranean Svalbard global seed vault which stores specimens of almost all the world’s seeds – is now believed to be the fastest-warming location on Earth, according to a new report. Longyearbyen, on the Norwegian island of Svalbard, had an average temperature in Svalbard […]

Trump and Saudi Arabia at odds over oil prices

U.S. President Donald Trump and the Saudi government have closely aligned views on most issues but they disagree significantly on the desirable level for oil prices, which could become a source of volatility in 2019/2020. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France March 28, 2019. REUTERS/Christian Hartmann/File Photo […]

World Futures: Electricity And Other Energy

In part three of this series we finished by implying that solar power would be insufficient to meet the energy needs and that nuclear is an alternative in the quest to eliminate dependence on fossil fuels. If this is an unacceptable approach, then the lifestyle and organization of humanity will require significant changes. A good […]

NEXT OIL DOMINO TO FALL? Mexico Becomes A Net Oil Importer

While Mexico suffered the bloodiest year of violent deaths in 2018, even bigger trouble may be ahead for the embattled country. For the first time in more than 50 years, Mexico has become a net importer of oil. This is undoubtedly bad news for the Mexican Government as it has relied upon its oil revenues […]

The world’s reliance on wheat threatens food security

Global farming practices – dominated by wheat, corn and rice – are playing havoc with the preservation of wildlife and putting food security at further risk, according to a new report by the World Wildlife Fund (WWF). The lack of variety in agriculture is both bad for nature and a threat to food security. According […]

Kunstler: Wokester’s Nightmare

The tides are shifting. Something’s in the wind. And it’s not just the fecund vapors of spring. The political soap opera of RussiaGate ended like a fart in a windstorm last weekend, leaving Mr. Mueller’s cheerleaders de-witched, bothered, and bewildered. And then a crude attempt was made to cram the Jussie Smollett case down Chicago’s […]

Venezuela returns to ‘Middle Ages’ during power outages

Walking for hours, making oil lamps, bearing water. For Venezuelans today, suffering under a new nationwide blackout that has lasted days, it’s like being thrown back to life centuries ago. El Avila, a mountain that towers over Caracas, has become a place where families gather with buckets and jugs to fill up with water, wash […]

Your Plans For Revolution Don’t Work. Nothing We’ve Tried Works

All the old ideas for uprooting the status quo have failed. I point this out not to depress people, but to persuade them to stop twisting on locked doorknobs. The old ideas don’t work, so we need new ones. The political process has failed. Capitalism has failed. Socialism has failed. Libertarianism has failed. Marx has […]

My Life In Collapse, By Bodhi Paul Chefurka

I was recently asked to respond to a short email interview. My response seems like a nice summary of how I’ve spent the last decade and a half of my life, so I thought I would share it here. 1) What is collapsology and what role does a “collapsologist” play? “Collapsology” isn’t a formal field […]

Fast-Melting Greenland Glacier Starts Growing Again In Massive U-Turn

A large and fast-melting glacier in Greenland is growing again, according to a new NASA study. The Jakobshavn (YA-cob-shawv-en) glacier on Greenland’s west coast had reportedly been retreating by around 1.8 miles and thinning by nearly 130 feet annually in 2012. May 30, 2012, photo shows an iceberg in or just outside the Ilulissat fjord that […]

The Catastrophe is coming

Dear 22nd century, Do you still use that quaint phrase ‘the elephant in the room?’ Does the family Elephantidae, currently at risk, still exist, or is its extinction such a horrific elephant in the room that no one dares speak that name? Either way, you’ve probably noticed the metaphorical elephant in my letters so far. […]

Oil Declines as Trump Pushes OPEC to Boost Production

Oil extended declines after President Donald Trump renewed his criticism on OPEC, saying the cartel should lift crude production. Futures in New York dropped as much as 2 percent, after falling 0.9 percent on Wednesday. It’s “very important” that OPEC increases the flow of crude as prices are “getting too high,” Trump said on Twitter. […]

How solar is powering the Middle East towards renewables

Think about energy generation in the Middle East and you probably think of oil. But in fact, the region is at the forefront of the race to decarbonize energy production. In March, production started at one of the region’s first solar power plants linked to a storage facility. The Al Badiya plant at Al-Mafraq in […]

Global oil demand could peak by 2030

Oil and metals trading house Trafigura expects global oil demand to peak as early as 2030, hit potentially by a faster-than-expected take-up of electric vechiles as the shift to cleaner energy gains pace, its CEO Jeremy Weir said Tuesday. The Swiss trader sees oil demand starting to “plateau out” with reduced growth rates from 2025, […]

Resilience, the Global Challenge, and the Human Predicament

We face a perfect storm of environmental, social, technological, economic, geopolitical and other global stressors. These global stressors interact in unpredictable ways. The pace of future shocks is increasing. The prospect for civilizational collapse is real. We need to build meaningful resilience. There are four questions about how to build resilience: 1. How do we […]

Shale’s Growing Pains Could Curb US Oil Production

The dramatic ramp-up in U.S. shale production is running into a combination of issues — technical and financial — that threaten to slow the pace of expansion, according to some of the industry’s biggest companies. Schlumberger Ltd. and Halliburton Co., two of the largest providers of oil services, said Monday there will be a double-digit […]

Texas Needs 11000 More Miles Of Pipelines

Texas will need an additional 10,950 miles of oil and gas pipelines to accommodate rising production over the years to 2050, an IHS Markit study quoted by S&P Global Platts has suggested. The Lone Star state is home to three of the most prolific oil and gas deposits in the United States, including the Permian, […]

The New Oil Darwinism

It’s a geopolitical jungle out there in the oil world right now and only the fittest will survive. The new oil Darwinism is replacing the older thesis that all producers can succeed over time because the current lack of adequate capital investment is going to create an oil supply gap in the future that will […]

Oil prices hit by worries of sharp economic slowdown

Oil prices slipped on Monday, with concerns of a sharp economic slowdown overshadowing support from tighter supply due to OPEC’s production cuts and US sanctions on Iran and Venezuela. Brent crude oil futures were down $0.36, or 0.54%, at $66.67 per barrel at 1200 GMT, while US West Texas Intermediate (WTI) futures were at $58.75 […]

Kunstler: Buyer’s Remorse

The Narrative is dead! Long live The Narrative! That’s what played on CNN, NBC, and The New York Times yesterday as they struggled to digest the parting meal Robert Mueller served to the RussiaGate lynch mob: a nothingburger with a side of crow-flavored fries. Mr. Mueller was careful, though, to leave a nice red poison […]

Oil traders are now watching workers’ phones to spot problems at refineries

In the $40 trillion global oil-trading market, the smallest clue can be worth millions. Take the number of people working at a refinery: Outside contractors are brought in for routine maintenance or to handle accidents that could limit demand for crude oil or curb the supply of fuels. While oil companies rarely reveal such sensitive […]

Huge Oil Reserves Could Be Found In Pakistan

Pakistan oil reserves, believed to be located in the off the coast of Karachi could possibly make the nation a major player in the oil industry. Speculation about the oil reserves in Pakistan have been floating around for months now, and it seems that each day brings the country closer to finding what could be […]

More shale, who cares? Saudi Arabia pushes for at least $70 oil

Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh’s share of global crude markets might be further eroded. FILE PHOTO: U.S. President Donald Trump welcomes Saudi Arabia’s Crown Prince Mohammed bin Salman […]

Flashback: Peak Oil

Figure it was an early Christmas present for folks who still fret over America’s energy security. On November 28, 2018, the U.S. Department of the Interior released its confirmation of huge new oil and gas reserves in West Texas and running west across New Mexico and into Arizona. Officials said that formations in the Delaware […]

Venezuela collapse: looting, hunger, blackouts

[ Venezuela is experiencing a double whammy of drought and low oil prices, which has lead to blackouts and inability to import food. It just keeps getting worse and worse. Related posts: Book review of “In order to live: A North Korean girl’s journey to freedom” by Yeonmi Park Inside North Korea’s Environmental Collapse Who […]

Richard Heinberg: The House is on Fire

A: The house is on fire! B: You sound so shrill. Can’t you say something witty or insightful? A: How about this: The house is on fire! C: We’re never going to be able to do anything about the house until we defeat capitalism first. A: But the house is on fire NOW! If we […]

America’s Venezuela Strategy: Coup By Sheer Narrative Control

The Trump administration is working to overthrow the government of Venezuela. They are not at this time doing this by military invasion, nor by funneling thousands of armed militants into the country, nor even solely with starvation sanctions and CIA ops. The first and foremost means of overthrowing Venezuela’s government currently being utilized by the […]

Politics, Productivity & Population: Why The Chinese Economy Flew and India’s Just Grew

The two countries have roughly the same population, similar average unemployment rates and current GDP growth rates that are among the highest in the world. Yet China’s economy is almost five times larger than India’s. The GDP per capita for China and India in 1985 was approximately $293 per person. According to 2017 data from […]

The EIA’s Optimistic Outlook

Most of the data below is taken from from the EIA’s Short-Term Energy Outlook. The data through February, 2019 is the EIA’s best estimate of past production and all data from March 2019 through December 2020 is the EIA’s best estimate of future production. However in most cases February production is highly speculative so I […]

Oil Hits 2019 High on Biggest U.S. Crude Storage Drop

Oil closed at a new high for the year in New York after the biggest withdrawal of crude in U.S. storage tanks since July signaled further tightening supplies. Futures gained 1.4 percent on Wednesday after a 9.59 million-barrel decline in American oil stockpiles reported by the government exceeded analysts’ expectations. U.S. crude exports were near […]

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