Oil Tanker Near Iraq Finds Explosive Object Attached to Hull

An oil tanker off the coast of Iraq discovered an explosive object attached to its hull, the latest incident highlighting the risk to ships in the waters near the Arabian peninsula. The Liberia-flagged Pola noticed a “suspicious object” on the ship as it was discharging cargo onto another vessel, according to a statement from owner […]

Yergin looks at historic year for oil, profound shift coming for energy complex

Pulitzer Prize-winning author Daniel Yergin has chronicled the historic sweep of the global energy business and says 2020 vastly disrupted the sector and left companies staring into an abyss last spring. The pandemic triggered unprecedented energy demand destruction. A clash between OPEC and Russia pushed oil prices to new lows. The energy transition to a […]

Iran Cuts Gas Flows to Iraq, Threatens Further Reductions

Iran has slashed the amount of natural gas it exports to Iraq and threatened further cutbacks over unpaid bills, increasing the likelihood of more electricity shortages in Baghdad and other major cities. Iraq has been receiving 5 million cubic meters a day since Iran cut its daily exports from 50 million cubic meters two weeks […]

Can Anything Stop Brazil’s Massive Oil Boom?

The COVID-19 pandemic had a sharp impact on oil prices, creating considerable uncertainty over the outlook for energy demand around the globe. The ongoing global crude oil supply glut and claims that peak oil demand could occur sooner than anticipated are also weighing on energy prices. Those headwinds have done little to impede Brazil’s massive […]

Is the demand for oil finally sagging?

Gulf states fear for revenue. A theory of possible “peak oil” has been around for a long time. The pandemic could now mark the beginning of a steadily falling demand. It was a thankless task when a team led by US geologist Max Steineke began their search for oil in the barren desert of Saudi […]

Why The World Can’t Quit Fossil Fuels

Have the recent pronouncements of the death of oil and reigning renewables been more rhetoric than reality? Yes and no. It’s true that peak oil is now closer than ever, and globally we’re seeing a more earnest effort to decarbonize than ever before, in large part thanks to green stimulus packages for post-COVID economic recovery. […]

Yergin: Oil demand won’t fully recover until 2022

Global oil demand will likely take another year or so to return to pre-pandemic levels — by late 2021 or early 2022, according to energy expert and IHS Markit vice-chairman Daniel Yergin. Citing an interview with Saudi owned free-to-air television news channel Al-Arabiya, energy portal oilprice.com yesterday said Yergin’s expectations for oil demand are roughly […]

The Very Real Possibility Of Peak Oil Supply

Three months ago, British oil giant BP Plc. (NYSE:BP) sent shockwaves through the oil and gas sector after it declared that Peak Oil demand was already behind us. In the company’s 2020 Energy Outlook, chief executive Bernard Looney pledged that BP would increase its renewables spending twentyfold to $5 billion a year by 2030 and […]

China And Iran Start Drilling In This Super Giant Gas Field

Drilling operations of the first well of the game-changing but highly-controversial Phase 11 of Iran’s supergiant South Pars non-associated natural gas field officially began last week. Significant gas recovery from the enormous resource will commence in the second half of the next Iranian calendar year that begins on 21 March 2021. The long-stalled Phase 11 […]

Ten predictions for energy in 2021

This will be your future if some powerful people at the World Economic Forum get their way: you’ll own nothing and “be happy about it.” Energy will be green, rationed, and expensive, and travel will be restricted. Your diet will be controlled, and currency will be digital. This left-wing dystopian dream is called the Great […]

The beginning of the end of the oil era?

Was 2019 the year when oil demand peaked? This existential question still dominates the energy debate and reflects the unprecedented changes our society experienced in 2020. Only time will tell. But this new reality is possible, not only because of the devastating impacts of the pandemic but also due to major technological changes in transport, […]

Peak Oil in South & Central America

Feliz Navidad! (1) Pre-Covid ..Fig 1: Oil production and peak years Production peaked 2015 due to Venezuela’s production collapse. Brazil’s production has not yet peaked but is unlikely to offset Venezuela’s decline. All other countries together are on a bumpy production plateau for the last 20 years. Fig 2: Oil consumption peaked 2014 Production vs. […]

The Biggest Energy Bill In A Decade Was Just Passed

After the novel coronavirus turned the entire energy industry on its head, much of the world took the hint and dove headlong into the global clean energy transition, some in the interest of avoiding catastrophic climate change by creating a decarbonized future and others in the interest of staying afloat in a decarbonized economy that […]

2020: The Year Consensus Reality Fractured

Virtually everyone agrees that 2020 was an abomination. An entire industry of opinion writers is busying itself with end-of-year handwringing, scouring every online thesaurus for adjectives to express just how horrible the last twelve months have been. But what facet of the awfulness to focus on? For the appalled chronicler, the most obvious starting points […]

Supermajors Are Betting Big On Carbon Credits

“PEAK OIL IS SUDDENLY UPON US” blared a Bloomberg Green headline earlier this month. While the COVID-19 pandemic has been devastating for many economic sectors, few were as hard hit as the oil industry, which saw oil prices drop below zero in a historic bottoming out during what some are now referring to as “Black […]

The Great Reset: An Explainer On The New World Order

Necessity is the mother of all inventions, and the year although plagued with the horrible effects of the pandemic ends on one silver lining. It was a year which led to a plethora of necessities and along with-it inventions and possibly even the spark for the fourth industrial revolution. However, societal progress is not unidirectional, […]

Behold the dawning of the Age of Aquarius

The Grand Conjunction of Jupiter and Saturn is upon us and there is no looking back. Image: Twitter We are all in the gutter, but some of us are looking at the stars. – Oscar Wilde Today all radio stations on Planet Earth should be playing this song. What the aptly named Fifth Dimension immortalized […]

The Next Dollar Problem Has Just Arrived

It is not for no reason that cryptos are roaring, and precious metals are playing catch-up. In the last month there have been developments that point to a new phase of accelerating monetary inflation for the dollar, and fiat money is only just beginning to be exchanged for these inflation hedges at an increasing pace. […]

Putin Says Russia Reducing Dependence on Oil and Gas

President Vladimir Putin said Thursday that the Russian budget was becoming less dependent on oil and gas, key exports for one of the world’s dominant petro-economies. Putin told reporters during a marathon end-of-year press conference it was clearly positive that, “70 percent of the Russian budget is not formed by oil and gas revenues”. “We […]

Kunstler: The Gyre Widens

The mind-numbing weirdness of Joe Biden’s insertion into the election of 2020 — like the furtive groping of an intern in a cloakroom — only signals the Democratic Party’s reckless drive to self-destruction, dragging the republic over the edge of an abyss with it. How did this hollowed-out figure of a grifting old pol find […]

Peak Oil and the Long Descent Down the Mountain

Electric vehicles, plastic alternatives, electrification of industrial processes – and more – are set to cut into demand for oil. In fact, we may have already reached a peak for the amount of oil produced in a single year, an idea known as ‘peak oil’. This week, Switched On speaks with oil demand analyst David […]

The Great Reset and Klaus Schwab

David Solway(American Thinker) Klaus Schwab, the chief proponent of a global project called the “Great Reset,” may be the most influential “intellectual” in the world today. A former member of the UN Advisory Board on Sustainable Development, he is the founder of the World Economic Forum (WEF) that meets annually in the Swiss resort town […]

Unsustainable energy a psychological failure

Professor Susan Krumdieck’s book Transition Engineering: Building a Sustainable Future is a technical instructional manual for engineers faced with how to adapt within our cities to meet the targets of 80 percent less fossil fuel. Not just the technical stuff, it’s also a strong imperative to do what we clearly must, to effect the inevitable downshift […]

The ‘reset’ we really need

The idea that the economy needs a ‘great reset’ in the wake of the Covid-19 crisis has gripped the elites across the Western world. Its basic premise is simple: policymakers should promote a recovery from the pandemic that helps to create a greener and cleaner world. In this scenario, as Boris Johnson argued in an […]

IEA Sees Crude Glut Enduring

The crude-oil glut left behind by the pandemic will clear by the end of next year, as markets face a gradual recovery marked by renewed strains on demand, the International Energy Agency said. “Demand is clearly going to be lower for longer than expected” when the virus emerged in the spring, the agency said in […]

Energy Majors Announce Transition Principles

Several energy majors revealed Thursday that they have agreed to apply six principles as they play their part in the energy transition. The principles – which have been accepted by BP (NYSE: BP), Eni (NYSE: E), Equinor (NYSE: EQNR), Galp, Occidental (NYSE: OXY), Repsol, Royal Dutch Shell (RDS.A) and Total (NYSE: TOT) – comprise the […]

The Economic Superorganism

As the energy transition proceeds and the world takes more aggressive steps to curb global warming, analysts from many disciplines are questioning how economic growth can be maintained, or if there are limits to growth—a concept first raised in the 1970s—that will also limit the progression of energy transition. Will we run into fundamental limits […]

Scientists Just Set a New World Record in Solar Cell Efficiency

Improving the efficiency of solar cells can make a huge difference to the amount of energy produced from the same surface area and the same amount of sunshine, and another world record has been beaten in the push for better yields. Researchers have now hit an efficiency of 29.15 percent in the perovskite/silicon tandem solar […]

Could a Form of “Liberal Fascism” Help Solve the World’s Problems?

Photo credit: Wikimedia Commons In September 2020, in conjunction with the annual meeting of the United Nations, the World Economic Forum organized a summit meeting on what its leader, Klaus Schwab, was calling “The Great Reset.” The Forum convened leaders “from government, business, international organizations and civil society along with a diverse group of experts […]

OPEC Lowers Oil Demand Projection

OPEC cut forecasts for oil demand again as the group and its allies prepare to weigh up whether they can continue gradually restoring halted supplies. The Organization of Petroleum Exporting Countries reduced projections for global fuel consumption in the first quarter of 2021 by 1 million barrels a day, it said in a monthly report. […]

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