World on brink of `a hunger pandemic’

The head of the U.N. food agency warned Tuesday that, as the world is dealing with the coronavirus pandemic, it is also “on the brink of a hunger pandemic” that could lead to “multiple famines of biblical proportions” within a few months if immediate action isn’t taken. © AP Photo/Matt Dunham Volunteers for the Edible […]

Gail Tverberg: Is there a way forward?

Many people are concerned today with the low price of oil. Others are concerned about slowing or stopping COVID-19. Is there any way forward? I gave a few hints regarding what is ahead in my last post, Economies won’t be able to recover after shutdowns. We live in a world with a self-organizing economy, made up […]

Oil prices extend slide one day after U.S. crude drops below zero

A collapse in the price of oil continued to disrupt world markets as investors on Tuesday braced for another deep dive in U.S. stocks. Global benchmark Brent crude fell nearly 17 percent, one day after the U.S. benchmark fell below zero for the first time in history. Brent crude was trading at $21.35 a barrel […]

Here Is The Full Explanation Behind Today’s Unprecedented Negative Oil Price

Courtesy of IHSMarkit’s energy vice president Roger Diwan How did you end up with negative oil prices today?  This happens when a physical futures contract find no buyers close to or at expiry. Let me explain what that means: A physical contract such as the NYMEX WTI has a delivery point at Cushing, OK, & […]

What Just Happened to the Mercury Rule?

Last week’s EPA decision adds insult to injury for our already vulnerable communities. Perhaps you missed it. There’s a lot going on right now. But amidst all the COVID-19 headlines last week, the EPA decided that it is not “appropriate and necessary” for the government to limit emissions of mercury and other hazardous air pollutants from […]

China imposes NEW coronavirus lockdown – fears grow for devastating second wave

A FRESH coronvirus outbreak in China’s Henan province has raised fears of a devastating second COVID-19 wave – despite the ruling Chinese Communist Party’s attempts to claim the country is winning the battle against the disease. Coronavirus: Expert on China’s ‘fear of second wave’ A fresh cluster of cases has been reported among medical staff […]

‘Megadrought’ emerging in the western US might be worse than any in 1,200 years

Scientists say that about half of this historic drought can be blamed on man-made global warming. The study covers an area stretching across nine U.S. states from Oregon down to New Mexico. Naturally-occurring western megadroughts have occurred many times before. Fueled in part by human-caused climate change, a “megadrought” appears to be emerging in the […]

How effective is a hard lockdown against the COVID epidemics? The data say not so much

  Data about the mortality of the coronavirus epidemic start being available. Above, a list of mortality rates for Western European countries (including the US) taken from the Institute for Health Metrics and Evaluation (IHME) of the University of Washington. The data are ordered by the projected number of deaths per million inhabitants. In addition, […]

The Real Reason Oil Futures Plunged On Monday Isn’t What You Think

KHANTY-MANSI AUTONOMOUS AREA – YUGRA, RUSSIA APRIL 5, 2020: A Surgutneftegas worker near a pumpjack … [+] Alexei Andronov/TASS Ouch! On the face of it, things look bad for the oil market. That’s an easy conclusion to make from the epic dive crude oil futures prices took on Monday. But the bigger story is far […]

Seeds Of Awakening: Notes From The Edge Of The Narrative Matrix

If we’re honest with ourselves, electoral politics has failed and we need a revolution. If we’re really honest with ourselves, revolution will fail until propaganda is eliminated. If we’re really really honest with ourselves, everything will fail without a mass-scale awakening. ~ The most revolutionary thing you can do is use your creativity to find […]

U.S. crude oil storage is filling rapidly

— U.S. crude storage facilities are filling rapidly, albeit from a low starting level, and tank space will become a problem if the global oil market remains heavily oversupplied in June and beyond. With global lockdowns already sharply reducing demand for oil, a lack of storage would weigh further on already depressed prices, leaving producers […]

Texas Oil at $2 a Barrel Raises Specter of Negative Prices

Crude prices in America’s oil capital are getting dangerously close to zero. Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas […]

The Limits of Clean Energy

Strong winds blow sand at a wind farm in the Coachella Valley on May 6, 2019 in Palm Springs, California. Photo by Mario Tama / Getty Images. The conversation about climate change has been blazing ahead recently. Propelled by the school climate strikes and social movements like Extinction Rebellion, a number of governments have declared […]

Kunstler: Flight Path

This age of battling narratives tends to conceal the broken consensus behind it. What’s gone is a broad social agreement that there are certain fundamental realities, and then codes of conduct that follow from them. When anything goes, don’t expect people to do the right thing, or even know what it is. The Covid-19 debacle […]

The Golden Age of Russian Oil Nears an End

Highlights In the next 10-20 years, Russian oil will become more expensive as extraction from less accessible basins becomes necessary to maintain current export levels.  Internal inefficiencies within Russia’s oil sector, as well as the remote locations of remaining reserves and potential shifts in future oil demand, add up to a murky future for the […]

Mexico’s state oil company hasn’t paid hundreds of workers for months

Mexico’s populist president is trying to reshape the country into an economy with strong worker protections that is driven by oil growth. Yet hundreds of workers at state oil firm Pemex have gone unpaid for months, current and former employees told Quartz. Even in the midst of the coronavirus pandemic, Pemex has not paid many […]

New York Not Close to Exiting Lockdown

The above shows the daily count of new Covid cases in New York state (blue) and the seven day centered moving average (orange).  The black line marks when the Governor issued his “PAUSE” (shutdown) order.  It continues to appear that around 12-14 days after that order, cases peaked and are now in a slow decline. […]

How Will the Energy Industry Change in Light of COVID-19?

It’s virtually impossible to find a sector unaffected by the COVID-19 pandemic. As government leaders issue orders to stay at home, people must work differently, and they often face difficulties getting everyday essentials. The energy industry is one of many facing changes due to the coronavirus. It Will Make People More Cognizant of the Need […]

The Real Oil Market Is Drowning and OPEC+ Deal Can’t Rescue It

The physical oil market, where millions of barrels of real cargoes are traded each day, needed OPEC+’s historic cuts to global crude production months ago. On Sunday, producer nations pledged to limit output by an unprecedented 10% of global supply. While there’s skepticism the cuts will prove deep enough — demand has plunged by far […]

Tracking global energy transition in turbulent times: solar stutters, coal keeps growing

As the extent of the impact of the coronavirus outbreak on economic activity and power demand emerges, newbuild activity in global power faces old and new sets of challenges. The short-term focus has been shifting due to coronavirus-related disruption of manufacturing activity and logistics, but delays will most likely be short-lived. The global power capacity […]

John Michael Greer: In the Footsteps of High John

Two weeks ago, while winding up the story of the colonial Rhode Island astrologer Joseph Stafford, I noted that the kind of occultism practiced by Stafford and Johannes Kelpius—the learned occult traditions of the Renaissance, which were experiencing their last golden autumn in Europe during the years when the American colonies were being founded—was by […]

Global economy to contract 3% in 2020

The global economy is projected to contract by 3.0 percent in 2020 from a year before due to the coronavirus pandemic, suffering the worst setback since the Great Depression in the 1930s, the International Monetary Fund said Tuesday. The IMF slashed its projection by 6.3 percentage points from its estimate in January, when the spread […]

Coronavirus And The Coming Financial Revolution

The coronavirus pandemic is one of the biggest and unprecedented seismic shifts in the global economy that we’ve ever seen in modern history, and it’s just getting started. Already, economies around the world are shutting down. The federal reserve has pumped trillions into the United States economy in just a matter of days. Global supply […]

The Reality Of The End Of Oil

The Oil Age has powered the world for well over a century. There have been two general schools of thought about how it will ultimately end. There were those who believed that oil production would peak and begin to decline in the face of high global demand. This is essentially the peak oil argument, which […]

Kunstler: Risings and Fallings

In the corkscrewing anguish of the social sequester, with careers, savings, futures, and dreams whirling down the drain, voices rise above the din of conflicting statistics to ask: what is going on here? To some, it looks like a deliberate attempt to demolish what’s left of the economy for political advantage. Clouds of suspicion gather […]

Trump Has “Big Talk” With Putin, Saudi King Salman About Oil

U.S. President Donald Trump said he had a “big talk” with Russian President Vladimir Putin and Saudi King Salman regarding oil production, expressing hopes that a deal on the control of said production would be announced soon. “We had a big talk as to oil production and OPEC and making it so that our industry […]

How the Pandemic Wiped Out Oil Demand Around the World

Global oil demand is being destroyed as the coronavirus forces people around the world to remain indoors and avoid all unnecessary travel. Currently, more than two-thirds of the world’s population are in lockdown, meaning no one is driving, flying or doing much that would require the use of crude or its derivatives. The ramifications for […]

Population Growth and Global Food Supplies

Article in the UK Independent, suggesting that corona could help accelerate the end of the oil age. For starters, corona crashed the airline industry, a large oil consumer. Additionally the global lock-down caused many to work from a home office, exit commuting. And then there is climate crisis. And the WTO, predicting that world trade […]

Collapse: Where can we find a safe refuge?

Does it make sense to have a well-stocked bunker in the mountains to escape collapse?     Sometimes, you feel that the world looks like a horror story, something like Lovecraft’s “The Shadow Over Innsmouth..” Image from F.R: Jameson. Being the collapsnik I am, a few years ago I had the idea that I could […]

Saudi Arabia has almost completed its first nuclear reactor site

age Saudi Arabia’s latest construction is raising eyebrows in the West, with new satellite images sparking fears about the kingdom’s quest for power.Source:Supplied Saudi Arabia has nearly completed construction of its first nuclear reactor, sparking fears about the country’s quest for nuclear power. New satellite images, first published by Bloomberg, show construction on the building […]

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