Saudi Aramco Chairman: Oil Industry Should Think In Decades

Energy transitions “take decades, even centuries” to complete, the chairman of the world’s largest oil company, Saudi Aramco, said at a conference on Monday, adding that the industry should continue to think in decades. Because complete energy transformations take such a long time to complete, the oil industry should continue to think in decades, Aramco’s […]

Peak Permian Oil Output Is Closer Than You Think

Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor. Adam Waterous, who runs Waterous Energy Fund, regards the sector’s financial position as unsustainable after years of disappointing returns for investors and negative free cash […]

The Science of (Not) Ending Global Poverty

In 1974, the neoliberal Austrian economist Friedrich Hayek was awarded the newly instituted Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. In his acceptance speech, Hayek stated bluntly: “If I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it.” Such a prize, he […]

A first look at the Clean Energy Act and the Green New Deal

Students joined more than 200 other grassroots activists for a lobby day at the General Assembly on Tuesday. Photo Ivy Main Climate and energy activists have been pinning their hopes on the 2020 legislative session to produce a framework for transitioning our economy to 100 percent carbon-free energy. After years of talking big but delivering […]

What’s Next For Oil? No One Seems To Agree

Although oil production in the Permian Basin shows all signs of slowing down in the new year, the West Texas shale revolution is not over yet. In fact, shale oil production in the United States will keep growing, albeit at a slower rate, to reach a jaw-dropping, record-breaking 14 million barrels per day in just […]

US oil production hits estimated record 13 million barrels per day

U.S. crude oil production rose to an estimated record-high of 13 million barrels per day last week as the nation’s energy growth crossed a new threshold, according to a weekly report from the U.S. Energy Department. The increase production comes as the nation’s stockpiles of commercial crude oil fell by 2.5 million barrels last week, […]

The population question: Toward a plan for global sustainability

Too often, it seems, matters of population are overlooked in discussions of global sustainability. And this is true, despite some rather obvious points: A world of, say, 5 billion people is more likely to be sustainable than one of 10 billion; and a world of 1 billion is likely more sustainable still. All things being […]

Kunstler: Sedition in Real Time

It is a wonder of these incendiary times that even as impeachment of a president moves to its ripest phase, trial in the Senate, the acts of sedition that prompted it still go on behind the scenes with no intervention — an epic failure of authority, if there ever was one. And further irony, if […]

So The US Is Invading Iraq Again

So the US has decided to become an invading, occupying force in Iraq again. It won’t be as exciting as last time. There will be no “shock and awe” invasion tactics this time. The invaders won’t even have to enter the country, because they’re already there. It will be a very boring, underwhelming sequel that […]

Coping With Global (& Local) Chaos: What You Can Control And What You Can’t

Have you been glued to the news lately, nervously watching what’s going on in the Middle East? Are you concerned that World War III is about to kick off at any moment? Is the state of the economy frequently on your mind? Maybe it’s Ebola that keeps you up at night or the risk of […]

A Potential War with Iran—and Other Geopolitical Events—Just Don’t Bounce Oil Prices Like They Used To

It’s been the steady drumbeat that has defined the oil market over the last two years. As tensions have mounted between Iran and the U.S., each development—from renewed sanctions to saber-rattling to the threat of outright war—has brought the question: how much are oil prices going to rise? There are historical reasons for this: conflicts […]

The World Turned Upside Down

Released On: 05 Jan 2020 The transition from fossil fuels to renewables and its geopolitical consequences More episodes Programme Website   The World Turned Upside Down Episode 1 28 mins    

2020 Will Be A Crucial Year For Oil

It’s the start of a new year and a new decade, and the oil market is as unpredictable as ever. Will OPEC+ extend its cuts? Will U.S. shale finally grind to a halt? Is this the “year of the electric vehicle”? Here are 10 stories to watch in 2020. Shale debt, shale slowdown. The debt-fueled […]

What Peak Oil? Retreating Arctic Ice Opens Vast Reserves to Russian Drillers

A bill authored by the Ministry of Natural Resources was in October this year hammered through parliament. It grants oil and gas companies expanded rights to explore resources both in internal and territorial waters and is aimed at lowering the financial burden of the oilmen engaging in the region. «It allows us to increase the […]

“We Do Not Seek War,” Says President Who Just Started A War

President Trump has been steadfastly assuring the world that the United States government does not wish to start the war it has already started by assassinating Iran’s top general. “We are a peace-loving nation and my administration remains firmly committed to establishing peace and harmony among the nations in the world,” Trump said in a […]

CFR President Says “The World Will be the Battlefield” After Iran Escalatio

The President of the Council on Foreign Relations Richard N. Haass says that “the world will be the battlefield” following a dramatic escalation in tensions between the United States and Iran. Fears of a wider war are rising after Iran’s Quds Force General Qasem Soleimani was killed during an airstrike near Baghdad’s airport. Haass warned […]

U.S. Oil Production Is Competing Against Decline

Summary U.S. oil output continued to increase in October 2019. Production reached a new high of 12,655 kb/d. The output of all tight oil basins was 8,165 kb/d in November and increased by 95 kb/d from 8,070 kb/d in October. 95% of the projected January output is required to offset the decline from all of […]

Our real existential crisis is extinction

If Western elites were asked to name the greatest crisis facing mankind, climate change would win in a walk. Thus did Time magazine pass over every world leader to name a Swedish teenage climate activist, Greta Thunberg, its person of the year. On New Year’s Day, the headline over yet another story in The Washington […]

Oil Prices Up After US Drone Strike

West Texas Intermediate (WTI) and Brent crude oil futures posted strong gains Friday as the oil market digested news about heightened tensions between the United States and Iran. The February WTI contract gained $1.87 Friday, settling at $63.05 per barrel. The benchmark peaked at $64.09 and bottomed out at $61.13. Compared to the Dec. 27, […]

US Drone Airstrikes Kill Six Pro-Iran Militia Commanders

Whether he is eating ice cream or not, Trump appears to be on a rampage to recreate the end of The Godfather. Less than 24 hours after a US drone shockingly killed the top Iranian military leader, Qasem Soleimani, resulting in equity markets groaning around the globe in fear over Iranian reprisals (and potentially, World […]

The 2020 oil risk nobody is talking about

One New Year’s resolution to make: Do not take the price of oil for granted. As we head into a new decade, complacency about the low price of oil is running rampant. This complacency is dangerous because it may catch U.S. businesses by surprise if oil were to experience a sharp upward move. Potentially this could cause a […]

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