Trump approves oil drilling in Alaska wildlife refuge

The Trump administration on Monday finalized a plan to allow oil and gas drilling in Alaska’s Arctic National Wildlife Refuge, putting it on track to issue decades-long leases in the pristine wilderness area before a potential change in U.S. leadership. The 19 million acre (7.7 million hectares) refuge is home to wildlife populations including Porcupine […]

Venezuela Oil Production Close to Zero

Venezuela could soon be producing close to zero barrels of oil, a new analysis by IHS Markit has revealed. The country’s crude oil production is currently between around 100,000 to 200,000 barrels per day (bpd) and falling, according to the company, which highlighted that Venezuela’s output was around 650,000 bpd a year ago and had […]

We’re Dumb about Exponential Growth. That’s Proving Lethal

Gradually, and then suddenly. That’s how exponential growth can ruin your day, undo your family, evaporate your economy, destroy your climate, crush an empire and destabilize a planet. Consider the performance of COVID-19. In June a 30-year-old male attended a “COVID party” in San Antonio, Texas. At a COVID party, the host has tested positive. He or […]

US 2020 coal production to fall 28.8% on year to 57-year low

The US is expected to produce 502.2 million st of coal in 2020, the US Energy Information Administration said Aug. 11, raising its estimate from a month ago by roughly 900,000 st, or 0.2%. Such a 2020 production total would be 28.8% lower than the 705.3 million st produced in 2019, while 2021 production is […]

The Future Reset: Global Food Systems

MS. TUMULTY: Good afternoon and thank you for joining us today for our conversation on a subject that could hardly be more important. We are so pleased to be joined today by a couple of experts in the field. Ertharin Cousin has a very broad and deep background in government, in nonprofits, and spent five […]

EIA Raises 2020 Oil Price Forecasts

The U.S. Energy Information Administration (EIA) has raised its 2020 average spot price forecasts for both Brent and West Texas Intermediate (WTI) oil. According to its latest short-term energy outlook (STEO), which was released on Tuesday, the EIA now sees Brent spot prices averaging $41.42 per barrel and WTI spot prices averaging $38.50 per barrel […]

Petrostates Glimpse Their Peak-Oil Future With Summer of Strife

From Baghdad and Algiers to Caracas, many of the world’s oil capitals are experiencing a summer of discontent. It could be a glimpse of their future. Iraq has seen fatal protests as its electricity grid buckles amid searing heat, while Venezuela’s oil production has sunk to a 75-year low. In Algeria’s capital, tension is simmering […]

EPA To Rescind Methane Regulations For Oil and Gas

The Environmental Protection Agency (EPA) will sign and issue new rules this week that will get rid of certain methane gas emission requirements for oil and gas producers, The Wall Street Journal reported Monday. Unidentified administration officials told the newspaper that the new rules will include getting rid of requirements for producers to have systems and […]

Amid COVID-19, Americans don’t care about climate change anymore

Battered by pandemic and economic collapse, do Americans have the capacity to care about the environment? Not so much, judging by a national poll we just conducted. We asked a panel of U.S. adults a series of questions about today’s most crucial issues, environmental policy options, and their own behavior. In all three categories, I […]

Argonne National Lab Breakthrough Turns Carbon Dioxide Into Ethanol

Wouldn’t it be wonderful if we could do something useful with excess carbon dioxide other than capture it, compress it, and bury it deep in the bottom of the ocean? Scientists at Argonne National Laboratory may have discovered a way to do precisely that. Image credit: Argonne National Lab According to a press release from […]

Saudi Arabia Turns Off America’s Oil Taps Again

For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down stockpiles in the world’s most visible oil market and thereby hasten the rebalancing of supply and demand. Weekly U.S. oil inventory data — usually published on a Wednesday and covering the period […]

It’s Time To Position For The Endgame

Do you sense an approaching endgame? Like there’s another heavy shoe to drop? Perhaps an entire closet’s worth? Certainly there’s entirely too much confusion surrounding SARS-CoV-2 and how to deal with it. Should people wear masks?  Will schools re-open?  Should they?  Why isn’t Covid-19 being treated consistently across medical centers?  Are there things we could […]

Saudi Aramco keeps dividend despite profit drop of 73%

Net profit at Saudi Aramco (ARMCO) slumped 73% to 24.6B riyals ($6.57B) in the second quarter (vs. estimates of 31.3B riyals), as a plunge in energy demand – due to the coronavirus crisis – weighed on sales of the world’s biggest oil producer. The majority state-owned company still maintained its Q2 dividend of $18.75B, unlike […]

India plans to fell ancient forest to create 40 new coalfields

Over the past decade, Umeshwar Singh Amra has witnessed his homeland descend into a battleground. The war being waged in Hasdeo Arand, a rich and biodiverse Indian forest, has pitted indigenous people, ancient trees, elephants and sloths against the might of bulldozers, trucks and hydraulic jacks, fighting with a single purpose: the extraction of coal. […]

Saudi crown prince accused of sending hit squad to Canada

Saudi Arabia’s Crown Prince Mohammed bin Salman has been accused of sending a hit-squad to Canada in order to kill a former Saudi intelligence official. The failed plan to kill Saad al-Jabri was soon after the murder of journalist Jamal Khashoggi in Turkey, court documents filed in the US allege. Mr Jabri, a veteran of […]

Is Economic Collapse Imminent? What Would You Do?

Alex Jones discusses the potential reality of the economy collapsing and how you should prepare

Can Renewables Fully Sustain Our Current Way Of Life?

“The reason renewables can’t power modern civilization is because they were never meant to. One interesting question is why anybody ever thought they could.” Michael Shellenberger, Time magazine “Hero of the Environment,” wrote this commentary in an article in Forbes. According to Shellenberger, president at Environmental Progress and an expert reviewer for the Intergovernmental Panel […]

Why The Cushing Storage Hub Matters to Oil

> The crude oil hub in Oklahoma provides the physical delivery mechanism for the benchmark WTI futures contract > As global economies reopen, oil stocks in Cushing have been drawn down to 51 million barrels in storage since the peak of 65.4 million barrels on May 1, 2020 > Pipelines at Cushing have 3.7 million […]

The end of fossil fuel. Is it here yet?

Has peak oil arrived and what are the impact and opportunities for cleantech? Peak oil. It has been a topic of heated conversation for decades. The traditional definition describes it as the theorised point in time when the maximum rate of extraction of petroleum is reached, after which it enters into terminal decline. In 1962, […]

The Unraveling of America

Never in our lives have we experienced such a global phenomenon. For the first time in the history of the world, all of humanity, informed by the unprecedented reach of digital technology, has come together, focused on the same existential threat, consumed by the same fears and uncertainties, eagerly anticipating the same, as yet unrealized, […]

Escape to Mars after we’ve trashed the Earth?

The idea that we can go to Mars is touted by NASA, Elon Musk, and so many others that this dream seems just around the corner.  If we destroy our planet with climate change, pollution, biodiversity loss, soil erosion, aquifer depletion and more, no problem!  We can go to Mars. Though not if peak oil […]

Extractivism

One could simply define extractivism as a productive process where natural resources are removed from the land or the underground and then put up for sale as commodities on the global market. But defining extractivism is not really this easy. Extractivism is related to existing geopolitical, economic and social relations produced throughout history. It is […]

China’s Oil Import Dependence Grows To 73.4% In H1 2020

China’s dependence on crude oil imports has been growing in recent years as its domestic production has faltered, and the world’s top oil importer covered 73.4 percent of its oil demand with imported oil in the first half of 2020. According to Chinese data, analyzed by Radio Free Asia’s Michael Lelyveld, China has been buying […]

End game for oil? OPEC prepares for an age of dwindling demand

The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand and it is focusing minds in OPEC. The pandemic drove down daily crude consumption by as much as a third earlier this year, at a time when the rise of electric vehicles and a shift to renewable energy sources were already prompting […]

Stories Of Economic Despair From America’s Worst Economic Downturn Since The Great Depression Of The 1930s

The economic pain that we are witnessing right now is far greater than anything that we witnessed during the last recession.  U.S. GDP declined by 32.9 percent on an annualized basis last quarter, more than 100,000 businesses have permanently shut down since the COVID-19 pandemic first hit the United States, and more than 54 million Americans […]

Food Is Growing More Plentiful, So Why Do People Keep Warning Of Shortages?

ARI SHAPIRO, HOST: For the past century, food has been getting cheaper and more abundant. And yet we often hear warnings about potential food shortages. Some economists say this fear itself can cause problems. NPR’s Dan Charles has the story. DAN CHARLES, BYLINE: Maybe you’ve heard how hard it might be to produce enough food […]

Brent Tops $45

Oil climbed to a five-month high in London, topping $45 a barrel after U.S. industry data showed a decline in the nation’s stockpiles. Brent futures gained for a fourth day, rising as much as 2.6% to the highest price since March 6. The American Petroleum Institute reported a 8.59 million-barrel drop in crude inventories last […]

Are children going out of fashion?

When footballer Mesut Özil married model Amine Gülse last year, Turkish president Recep Tayyip Erdoğan served as a witness at the ceremony. In his speech, Erdogan asked the couple to have at least four children. Why? More than 200 years ago, the Reverend Thomas Robert Malthus hypothesised that when population grows exponentially, it rapidly outpaces our capacity […]

Massive Beirut blast kills more than 60, injures thousands

A massive explosion rocked Beirut on Tuesday, flattening much of the port, damaging buildings across the capital and sending a giant mushroom cloud into the sky. More than 60 people were killed and more than 3,000 injured, with bodies buried in the rubble, officials said. Hours later, ambulances still carried away the wounded as army […]

Kuntler: A Glimpse Towards November

These dog days of summer, an anxious stillness descends across the USA as the pandemic pulses through the land in fearsome new waves, and incomes vanish, and businesses roll over, and unpaid payments-due tip lives into the bardo of default, and the idle hours of no work, no money, no company, and perhaps no future […]

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