Peak Oil is You

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News from January 2021

Exxon, Chevron Have Discussed A Merger

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Just this past Friday, we lamented that amid the marketwide meltup, one of the very few companies that actually deserves to be higher with or without the help of WSB, oil giant Exxon, simply refuses to do so, and so we begged Melvin Capital to short it (although it now appears that Gabe Plotkin is […]

South China Sea: War fears EXPLODE as Chinese jets simulate missile attack on US carrier

FEARS of open war between the United States and China surged after Chinese fighter jets carried out mock missile strikes on a US aircraft carrier. Taiwan is ‘ready for any aggression’ says Tsai Ing-Wen The incident took place amid reported incursions into the airspace of neighbouring Taiwan. A source from US and allied intelligence […]

Elon Musk Plans to Use Texas Natural Gas for His Starships

Elon Musk became the richest man in the world thanks to enthusiasm for Tesla Inc.’s sleek electric cars — and the company’s stratospheric stock price. But while Musk is perhaps the most well known clean energy CEO, SpaceX, his other company, is likely to rely on drilling for natural gas to power Starship, the new […]

Globalist Civilization Is Bound to Fall

The Wanli Emperor ruined the noble intentions of the Ming dynasty’s founder, locked himself inside his palace, and indulged in the good life. He was obsessed with avoiding contact with townsfolk and, needless to say, their affairs, even 500 years before the coronavirus. Meanwhile, in Rome, after the death of Marcus Aurelius, the Empire staked […]

Saudi Arabia’s Oil Fears Look Well Founded

It’s starting to look like Saudi Arabia’s concerns over the oil demand recovery were well founded. At the start of the month, the joint leader of the OPEC+ group of oil-producing countries announced a surprise output cut of 1 million barrels a day for February and March. Its co-chair, Russia, pushing for restraints to be eased, was granted […]

The Great Pause Week 46: Wolf Kill

“In 2020, federal protection for the gray wolf was removed entirely. Now the entire species teeters on the brink of extinction.“ In August 2019, seven game wardens in black Kevlar body armor descended upon a remote mountain valley home in Northern California to issue an arrest warrant on a 23-year-old, sixth generation rancher. […]

New York City to ban natural gas hookups in new buildings by 2030

New York City this week said it will join a growing list of U.S. cities banning natural gas hookups in new buildings. New York City Mayor Bill de Blasio said on Thursday as part of his State of the City address that New York will “ban new fossil fuel connections in new construction by at […]

What is the Great Reset?

The pandemic has radically changed the world as we know it, and the actions we take today, as we work to recover, will define our generation. It’s why the World Economic Forum is calling for a new form of capitalism, one that puts people and planet first, as we come together to rebuild the world […]

Biden May Kill A Quarter Of US Oil And Gas Production

Pipes are silhouetted in a storage location on the Raven Oil Drilling rig property near Watford City … [+] N.D., Oct 1, 2013. In 2008 the North Dakota oil boom started its ongoing period of extraction of oil from the Bakken formation. Shale gas reserves has given the United States more independence over other nations […]

U.S. Tries to Seize Oil Shipment It Says Came From Iran

The U.S. is trying to seize around 2 million barrels of what it thinks is Iranian oil, according to people familiar with the matter, in Washington’s latest attempt to block the Islamic Republic’s energy exports. The crude is on board the Liberia-flagged Achilleas, which is sailing to the U.S. after the Department of Justice issued […]

Is Another Oil Price Spike Likely Soon?

A number of analysts have been warning that the double-barreled price shock in 2020 which sent prices to historic lows (negative $37 a barrel, albeit only paper trades) drastically reduced upstream investment and delayed development of new oil production capacity, which could set the stage for a new oil price shock. Demand recovery coupled with […]

Kunstler: The Man Who Isn’t There

One might ask: why is it so easy to put over narratives on at least half the people in this country? Here’s the answer: because we are living in a time when nothing adds up and there are no consequences — but especially no consequences for the folks in charge of things that don’t add […]

The Climate Crisis Is Worse Than You Can Imagine. Here’s What Happens If You Try.

Peter Kalmus, out of his mind, stumbled back toward the car. It was all happening. All the stuff he’d been trying to get others to see, and failing to get others to see — it was all here. The day before, when his family started their Labor Day backpacking trip along the oak-lined dry creek […]

Big Oil Knows How This Is Going To Go

The “supermajor” oil companies collectively known as Big Oil are having a time of it, in large part because of the pandemic, obviously, but also because we are swiftly moving towards a post Peak Oil era. Big Oil knows this, and it’s doing what it can to get in on what’s next. Take Royal Dutch […]

China Oil Demand at Risk

For Rachel Tian — and millions of other Chinese people — Lunar New Year festivities look set to be less of a family affair in 2021. The Beijing-based securities analyst would normally be preparing to drive to her hometown of Baoding in Hebei province, about two hours away by car, to spend time with her […]

Petrobras oil reserves fell 8% in 202

Brazil’s state-run oil company Petrobras ended 2020 with proven reserves of oil, condensate and natural gas of 8.816 billion barrels, it said in a securities filing on Tuesday, down about 8% from the previous year. The company said its replacement rate was 29% of last year’s production, adding the impact of asset sales, totaling an […]

Following the money that canceled Keystone

Prime Minister Trudeau says he is disappointed in President Biden’s decision to revoke permits for the Keystone XL pipeline, but is he surprised? This incredible success of a nearly decade-long campaign to cancel the pipeline counts Biden as an ally in their ‘build back better’ coalition. Recently Trudeau also signalled his alignment with the ‘build […]

Biden Ban Could Hit Deepwater GOM Hardest

President Joe Biden’s temporary halt to drilling on federal lands leaves the vast majority of U.S. crude production untouched, though it may be the death knell for the Gulf of Mexico’s already dwindling output. Should the halt announced Wednesday become permanent, the U.S. would stand to lose as much as 200,000 barrels a day of […]

President Biden to halt new oil and gas leasing on US lands

President Joe Biden is set to announce a wide-ranging moratorium on new oil and gas leasing on U.S. lands, as his administration moves quickly to reverse Trump administration policies on energy and the environment and address climate change. Two people with knowledge of Biden’s plans outlined the proposed moratorium, which will be announced Wednesday. They […]

Glimpse into dynamics of post-pandemic oil industry

CAIRO – 21 January 2021: Since its discovery in 1859, oil has been the main source of energy, and main source of income for many countries. The finite resource was subject to major hits in the past three decades. The last of which took place last year. However, the sector has begun recovery paving the […]

Kunstler: Flying Blind

Events are in the driver’s seat now, not personalities. Gil Scott-Heron was right way back in the day when he said, “the revolution will not be televised.” Only what he called “revolution” turns out to be collapse, led by the disintegrating news business, so that the people of this land are flying blind into a […]

Why The Future Still Means Fossil Fuels, For Now

Despite some news reports that suggest the green ambitions of the US Democratic Party could spell doom and gloom for traditional oil and gas companies, Franklin Equity Group’s Fred Fromm and Matt Adams see signs that increased demand for fossil fuels in select developing countries could offset any potential demand slump in developed countries […]

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 […]

Non-OPEC September Oil Production Flat

Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIAʼs International Energy Statistics and updated to September 2020. Information from other sources such as OPEC, the STEO and country specific sites such as Russia and Norway is used to provide a short term […]

Biden Puts US on Path to Rejoining Paris Climate Deal

President Joe Biden signed sweeping actions to combat climate change just hours after taking the oath of office, moving to rejoin the Paris accord and imposing a moratorium on oil leasing in the Arctic National Wildlife Refuge. Environmentalists said Biden’s actions — some of which could take years to be implemented — renew the U.S. […]

Harvesting Blackhole Energy Isn’t As Crazy As You Think

Nuclear fusion,solar fuels, floating offshore nuclear plants, and microwave beaming. These are some of the esoteric and rather outrageous renewable energy ideas that scientists have proposed to help break our over-reliance on fossil fuels. Some like nuclear fusion are much further ahead than others after scientists last year kicked off the five-year assembly phase of […]

Saudi Arabia’s Oil-Market Pessimism Vindicated

For Saudi Arabia, bad news in the oil market has rarely been such a vindication. Two weeks ago, the world’s biggest crude exporter stunned energy traders by announcing that — rather than restore halted production as planned — it would slash supplies by a further 1 million barrels a day. The resurgent pandemic necessitated “preemptive” […]

Doubling Down on the Fossil Fuel Fairy Tale

Let me start with a conundrum. As part of my day job as a political economist I consume a lot of international economic, business, and energy news. Preparing for my research and teaching requires me to read reports in Bloomberg, the Financial Times, The Economist and other business publications. It also leads me to check […]

OPEC sees U.S. shale output recovering further on oil rally

The outlook for U.S. shale oil is slightly more “optimistic” due to rising prices and output will recover further in the second half of 2021, OPEC said on Thursday, in a sign its policy of cutting output is helping rivals pump more. U.S. shale producers are not part of a pact between OPEC nations and […]

IEA Validates Saudi Output Curbs

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