The Best Day In The History Of Oil Markets

Crude oil just had its best day ever, only a day after its third-worst drop in history. West Texas Intermediate jumped more than 23% to $25.22 a barrel on Thursday. However, it remains on track for its worst monthly decline on record as a supply glut and demand concerns keep oil investors on edge. Three […]

Global Economic Consequences of COVID-19

The panic resulting from the events starting with the deaths in Wuhan keeps spreading globally faster than the spreading of the virus itself. Quite apart from the immediate health dangers, now a new economic danger looms large globally. We are facing the prospects of a deep and lasting global recession regardless of the health policy […]

Stock Markets Price in Doomsday Scenario for Oil

Holly Black: Welcome to the Morningstar Market Update. I’m Holly Black. With me is Allen Good. He is equity analyst at Morningstar in Amsterdam. Good afternoon. Allen Good: Good afternoon. Black: So, you’ve had a very busy sector to keep an eye on over the past couple of weeks. Can you tell us what’s been […]

When Will the Oil War End?

How long can the vicious oil-price war between Saudi Arabia and Russia last? If history is any guide, the battle will be a long one. Riyadh has waged four price wars, including the current one, over the last 35 years. All of them lasted at least a year, and prices plunged at least 50%. This […]

In the Pandemic, It’s Every Nation for Itself

“The lamps are going out all over Europe, we shall not see them lit again in our life-time,” said Foreign Secretary Sir Edward Grey to a friend on the eve of Britain’s entry into the First World War. Observing from afar as the coronavirus pandemic ravages the Old Continent, Grey’s words return to mind. And […]

How will oil and gas companies solve the energy trilemma?

The price of oil is dependent on supply and demand – with the latter being more significant at present. Notice that the price of petrol has fallen over the last month? This is directly related to the coronavirus outbreak, which has led to fewer people travelling, and subsequently less demand for petrol, diesel and aviation […]

Why Oil Prices Could Fall to $20 and Saudi Arabia Will Emerge on Top

Oil markets have been rocked by two simultaneous events. The novel coronavirus has knocked out millions of barrels worth of demand for oil, and a supply war between Saudi Arabia and Russia has added millions of barrels of supply. For the past week, most analysts have treated these developments as disconnected events. The supply war […]

Oil Demand To Plunge By 10 Million Barrels Per Day

As major economies go into lockdown, oil demand continues to fall off a cliff. On Monday, WTI fell into the $20s. “The additional quarantine measures imposed in France, Spain and elsewhere over the weekend has spurred a ‘world championship’ in demand loss forecasting this morning,” Bjoernar Tonhaugen, Rystad Energy’s head of Oil Markets, said in […]

Kunstler: Things Have Changed

At least in wartime, the bars stay open. That’s how you know this is a different thing altogether from whatever else you’ve seen in your lifetime. Even those of us who signed up for this trip — that is, who expected a long emergency — may be a little bit in cosmic awe at just […]

OPEC and IEA warn developing countries could lose up to 85% of oil and gas income this year

Developing countries’ oil and gas income could fall to their lowest levels in more than two decades if current energy market conditions persist, the IEA and OPEC have warned in a rare joint statement. IEA Executive Director Fatih Birol and OPEC Secretary General Mohammed Barkindo expressed “deep concerns” about the coronavirus pandemic on Monday, warning […]

Is it time to freak out?

Toilet paper? Have people lost their minds? Of course, I have wondered that many times even without the coronavirus scare, but it’s toilet paper that people are panic buying? I seriously don’t get that, but there is a real threat from Covid-19. The most pressing and important long-term effect beyond the deaths that will occur […]

Spectacularly wrong: Why Wall Street doesn’t understand the corona virus

Investment professionals on Wall Street spend their days reading financial reports and looking at numbers flash on screens. These numbers record the moment-to-moment changes in the collective wisdom of markets about the value of stocks, bonds, commodities and a distressing array of derivative financial products. From the comfort of the sealed caverns of Wall Street […]

The SPR Fiasco

If as a result of COVID-19 and declining worldwide oil demand “American-made crude oil” exports get whacked say by 2MM BOPD, that oil could be used to fill the SPR to the top, another 77MM barrels will do it (EIA,DOE). It will then take the mighty US shale oil industry 39 days to accomplish that. […]

The Shit Might Actually Be Hitting The Fan But Somehow It Doesn’t Feel Real

So here we are. Right on the cusp of that SHTF event that we’ve been prepping for all these years. A global pandemic. A breakdown in the supply chain. Shoppers who are already becoming agitated and even violent. We’re watching it all unfold in our hometowns and across our nation right now. Yet, somehow, it […]

Saudi Prince MBS Gambles on Oil Markets

Saudi Arabia is now flooding the international market with cheap oil, a move that could hurt Russia’s dominance in the industry and derail its 2020 economic plans. Russia has repeatedly failed or refused to abide by OPEC agreements, prompting the Saudi leadership to crank up oil supplies to unprecedented levels. The current oil supply war […]

Kunstler Confab with David Collum about Corona Virus, Markets Gone Wild, and Politics

David Collum is the Betty R. Miller Professor of Chemistry at Cornell University. He is the intellectual utility infielder of internet commentary, covering all the bases: culture, politics, finance, science, and technology, with often surprising views on the the predicaments of our time. Here we attempt to make sense of the fast-moving corona virus story […]

Hydrogen: The Secret To Commercializing Nuclear Fusion

Scientists around the world are racing towards a green energy solution that is cheap, efficient, and scalable enough to replace fossil fuels before our carbon-based economy steers us past the tipping point towards catastrophic climate change. Solar cells are being improved at breakneck speed, wind turbines are being swiftly scaled up, and geothermal energy is […]

A Millenial’s Eye View of the Collapse of Industrial Civilization

A discussion held this week with a true Millenial Generation (Born 1998, Age 21) young man from northern Ontario Canada, who recently became aware the Civilization he lives in is undergoing Collapse. He joined our intrepid Clan of Kollapsniks on the Doomstead Diner after becoming “Collapse Aware” in September of 2019 and happening on George […]

Oil: Blood In The Streets

Arguably one of the wildest months in oil history, it’s hard to imagine that less than a month ago oil prices were almost $55 / barrel Brent, and that less than a year ago, they were approaching $70 / barrel Brent. That drop in stock prices has shattered oil companies. Occidental Petroleum (NYSE: OXY) has […]

Iraqi economic crisis looms as oil prices collapse

Crashing oil prices are likely to put a massive strain on Iraq’s economy, including a severe budget shortfall that could further undermine the government’s ability to respond to myriad crises. If Brent crude remains near $30 per barrel, due to a price war between Russia and Saudi Arabia and the economic fallout from the spread […]

This Will Get Worse The grim math of a coronavirus future.

arch 10 was just a few days ago, but it already feels very far away — before the NBA season was suspended, Tom Hanks tested positive, and a national state of emergency was declared. On that date, Think Global Health, which is a project of the Council on Foreign Relations, produced a report that includes […]

Get Ready For Your Lifestyle To Change Indefinitely Because Of This Coronavirus Pandemic

Fear of the coronavirus is causing shutdowns on a global scale like we have never seen before.  Just about every major sporting event that you can think of has been either canceled or postponed, schools and universities are keeping students away, global tourism is absolutely collapsing, churches are being shuttered, conferences and festivals are being […]

How Saudi Arabia started a global crude price war

Oil prices crashed by as much as 30 per cent after Saudi Arabia fired the first shots in a price war, in crude’s biggest one-day fall since the early 1990s Gulf war. Riyadh’s threat to discount its crude and raise production prompted the price of Brent crude, the international oil marker, to fall to as […]

US to Buy Large Quantities of Oil for Reserve

President Donald Trump has directed the U.S. Energy Department to buy “large quantities” of oil for the government’s strategic petroleum reserve following this week’s crash in oil prices. “We’re going to fill it right up to the top,” Trump said in a briefing on the coronavirus outbreak, adding that he’s instructed the Energy Department to […]

Kunstler: Black Swans, Dead Cats, Live Bats, and Goodbye to All That

Had enough excitement yet? At least the stock markets are following an established script: the bubble pops, the elevator drops, for a while it stops… and then investments sink to the deepest sub-basement, where they linger for a long, long time. Hello, next great depression…. We know how that story goes, even if it hurts. […]

The Great American Shale-Oil Bust Turns into Massacre

Shares of shale oil drillers collapsed by 25%-50% today. Their bonds got massacred. Saudi-Russia price-war strategy appears successful in wiping out investors in the US shale-oil sector. It was so chaotic and brutal in the crude oil market today that the EIA, which is part of the US Department of Energy, emailed out a statement […]

Prepping for Coronavirus

How the Well-Dressed Diner preps up for a trip to the Food Superstore.

Coronavirus and Climate Change – will the Environment Benefit or Suffer?

The panic around the coronavirus is spreading and impacting more people across continents and touching more aspects of our lives, from travel restrictions to fluctuations in financial markets to delays and shortages in retail supplies.  When we look at the bigger picture, what does this crisis mean in terms of climate and our environment?  If […]

Shale Drillers Seek Jones Act Waiver to Ease Price Pain

U.S. oil companies battered by the crude price war between Saudi Arabia and Russia are encouraging the Trump administration to waive a law that mandates only American vessels can be used to transport goods among U.S. ports. A temporary waiver of that law, known as the Jones Act, “can allow American producers to move domestic […]

NY Gov. activates National Guard to create “containment zone”

(Natural News) Just as we predicted weeks ago through a series of articles, videos and podcasts that were largely mocked and ridiculed by many Trump supporters who still think the coronavirus is a left-wing media hoax, medical martial law is quickly dropping into place across America. In addition to Washington State Gov. Inslee announcing today […]

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