I Predict Your Predictions Are Wrong

When confronted with disaster, believing that everything will change is all too easy. How is it possible to write poems after Auschwitz, to enjoy a Sunday stroll in Lower Manhattan following 9/11, or, indeed, to dine in restaurants after a pandemic kills hundreds of thousands of people in the span of a few cruel months? […]

From Supply Glut To Energy Shock

Summary Oil demand dropped from a record peak of 100 mbd reached in 2019 to a recent low of 70 mbd. At $20 oil, no one is making money and if prices continue at these levels for the next year, just about every oil company will be on life support or out of business, including […]

The power of artificial sun: Fusion

With energy, people live, plants grow, machines move, and the world survives. Sounds familiar? Yes, that is the Sun, the ultimate energy source, the holy grail of all problems. But can we bring it closer and have it here on Earth? The Sun is basically a pressure cooker. It cooks one basic element of our […]

The Flame and the Crucible

Our journey through the hidden history of American occultism has focused so far entirely on traditions brought here from elsewhere—the German Rosicrucian and Pietist traditions studied by Johannes Kelpius, the classic tradition of English astrology practiced by Joseph Stafford, and the varying traditions of folk magic that crossed the Atlantic with captive Africans from the […]

How To Understand All This China Stuff

China is in the news every day now. Today here in Australia we’re pretending to be offended because a Chinese tabloid published the accusation that our nation is a “giant kangaroo that serves as a dog of the US”, even though we all know that’s completely true and we should be flattered that at least they […]

Peak Oil Isn’t Here But It Could Be In Sight

The huge drop-off in demand for oil because of the coronavirus pandemic has some analysts talking about Peak Oil, something we’ve been talking about in these parts for what seems like forever. It still doesn’t seem likely to happen anytime in the near-term, though because of the slow rise of electric cars, we are getting […]

Industry hit by weak demand finally faces threat from electric cars

Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but automakers are betting the crisis will help accelerate an electric future. With economies reeling from lockdowns to curb the virus, the sharpest plunge in oil prices in two decades has slashed the cost of filling up […]

A Huge Fleet Of 117 Tankers Is Bringing Super Cheap Crude To China

While the rest of the world is tentatively coming out of lockdowns, China is taking advantage of the cheapest crude oil in years to stock up as demand is starting to return in the world’s largest oil importer, Bloomberg reported on Friday, citing tanker-tracking data it has compiled. At present, a total of 117 very large crude […]

Petro Questions and (Some) Answers

These are unusual times in oil and gasoline markets, but not really mysterious. Everyone has a role to play in the pandemic. My primary role – as my younger friends remind me – is to stay the hell home, and out of the hospital. Check. But the questions in my inbox lately suggest another role: […]

Oil Posts Two-Month High

Oil rose to levels not seen since Covid-19 lockdowns paralyzed the world’s largest economy, lifted by signs of recovering demand and news of a viable coronavirus vaccine. Futures in New York climbed 8.1% Monday, the highest level since mid-March. Chinese oil use is at 13 million barrels a day, just shy of the levels of a year […]

Gail Tverberg: Understanding Our Pandemic – Economy Predicament

The world’s number one problem today is that the world’s population is too large for its resource base. Some people have called this situation overshoot. The world economy is ripe for a major change, such as the current pandemic, to bring the situation into balance. The change doesn’t necessarily come from the coronavirus itself. Instead, […]

The World Is Running Out of Elements

Make no mistake: We are running out of elements. As humans have filled in all the corners of the periodic table, each element has resulted in technological innovation. Europium and indium are crucial for televisions and touch screens. Rhenium is necessary in fighter jet engines. And to avoid some of the effects of climate change, […]

Will Oil Demand Reach Pre-COVID Levels as Lockdown Measures Ease?

With the WTI June futures contract settlement date just around the corner, market participants are watching oil prices closely. However, hope remains that oil prices won’t go negative again this month, and moreover, that oil will still be able to rebound as lockdown measures ease. Earlier this week the Chief Executive of BP, one of […]

Saudi Arabia loses its wealth

On Monday, Saudi authorities announced unprecedented measures to salvage its finances from an imminent meltdown, caused by mismanagement rather than simply the coronavirus pandemic or the collapse of oil prices, Middle East Eye writes in the article Saudi financial crisis will spark resistance to plundering of state. From July, an increase in VAT from five percent […]

Nuclear power can provide the reliable clean energy essential to our future

It has been about two months that most of us have been staying home to help flatten the curve of the COVID 19 pandemic.  While it may seem difficult, we keep telling our kids how lucky we are to have incomes as we work from home to limit our health risk.  There are many who […]

Tesla Energy: Elon Musk’s Next Big Plan

The way that you trade energy could soon have a whole lot more star power. Elon Musk is entering the energy trading scene with a new Tesla Energy software asset called Autobidder, which would allow both providers and consumers to exchange their energy capacity. The software is currently being used to run the company’s new […]

Is EIA Data Disguising A Disastrous Decline In US Shale?

The Trump administration claims that the U.S. is “transitioning to greatness,” and that energy companies are going to see “massive gains.” U.S. Secretary of Energy Dan Brouillette says there is “stability” in the oil market, and that economic activity will “explode” on the other side of the pandemic. Thanks to the leadership of President @realDonaldTrump, […]

Kunstler interview Art Berman

Art Berman is an independent oil geologist and industry analyst. We go deep on the recent extreme price crash in the oil markets, the current situation and destiny of shale oil, and the implications of all this for the economy in general. Art lives in Houston. He blogs at https://www.artberman.com/blog/ The theme music for the […]

The slow burn of a long-term slowdown

We’re not in a space race anymore, or an arms race, or any kind of race right now. And even if we were, it doesn’t seem like we’d be winning. As fast-moving as it may feel, the world has really been slowing down for decades. From the global population, to the economy, to technology, the […]

Michael Klare: The Beginning of the End for Oil?

Energy analysts have long assumed that, given time, growing international concern over climate change would result in a vast restructuring of the global energy enterprise. The result: a greener, less climate-degrading system. In this future, fossil fuels would be overtaken by renewables, while oil, gas, and coal would be relegated to an increasingly marginal role […]

‘We are witnessing the impacts of a disorderly transition’

Committee on Climate Change CEO discusses infrastructure, airline bailouts, COP26 and making the best of a bad situation. It all seems so long ago now, but back in 2019 BC (before coronavirus), Greta Thunberg and Extinction Rebellion had helped drive awareness of the climate crisis to record levels, net zero had become the climate action […]

Saudi Aramco’s Stock Trades on a Different Planet

Don’t worry if you missed Saudi Aramco’s earnings call: There wasn’t one. Now the sticklers and bores among you might raise a hand and suggest that, what with the global pandemic, oil crash and assorted what-have-yous, it might be advisable for the biggest oil major in the world to spare an hour for an update. But honestly, […]

BP chief weighs odds of ‘peak oil’ demand

BP’s new chief executive said the coronavirus hit to crude consumption was likely to endure beyond the pandemic — and may even have ushered in “peak oil” demand. Bernard Looney, who took the top job at the UK energy major in February, told the Financial Times that the Covid-19 crisis was only “adding to the […]

The Pandemic Is Laying Bare a Global Water Crisis

Days after he shared images of municipal workers disinfecting the streets of Addis Ababa with high-powered hoses, Mayor Takele Uma Banti found himself struggling to explain a 72-hour water shortage. For the 4.8 million residents of Ethiopia’s capital city, interruptions to the water supply are nothing new. But in the grip of a pandemic, the […]

Cars Making a Comeback, Stimulating Oil Recovery

James Li, a public relations account director, would rather spend an hour sitting in Beijing traffic than risk 30 minutes exposed to crowds on a train. “Traffic is as bad as it could be” but the subway is still too dicey, he said. In Frankfurt, real estate assistant Anna Pawliczek is driving to work for […]

Coronavirus, Economics and Culture with Dmitry Orlov

Dmitry Orlov is a Russian-American engineer and a writer on subjects related to “potential economic, ecological and political decline and collapse in the United States. (Wikipedia) He is the author of multiple books including: Reinventing Collapse: The Soviet Example and American Prospects, The Five Stages of Collapse: Survivor’s Toolkit and more. This episode we talk […]

Michael T. Klare: The Global Food Crisis

In San Antonio, 10,000 families began arriving before dawn on April 9 to receive free boxes of food at a shuttered mall; in a normal week, 200–400 families might show up. In Nairobi, Kenya, thousands of desperately poor people seeking government food aid on April 10 were beaten back by the police, causing multiple injuries. […]

Massive Face Off Erupts Between Indian and Chinese Troops, Several Injured

The two countries, India and China, share a 2,400-mile long demarcated border. As per official data by the Indian Defence Ministry, Chinese troops have transgressed into Indian territory as many as 752 times in the last two years. The two nations have been blaming each other for entering each other’s territories. Several soldiers were injured […]

The Great Pause Week 7: Coping with a Nuclear Infection

“Emergency preparedness plans are already inadequate, but the prospect of a mandatory mass evacuation at a time like this is an impossible choice.“ Back in Week Two, we began warning of the danger of cascades across multiple fault lines, beyond the single threat everyone is now so focused upon. Some people think the giant Asian […]

US GoM 2019 Summary: Part II – Reserves

Introduction BOEM produces an estimate of GoM reserves every year. This year’s covers estimates for then end of 2017. Nominally The figures given are 2P estimates but previous analysis has shown them to be extremely conservative, and they strictly follows SEC rules concerning reserves being bookable only if clear development plans are in place. Backdated […]

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