News from July 2021

US April Oil Production Flat – Peak Oil Barrel

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All of the oil (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM. After the production charts, an analysis of three EIA monthly reports that project future production is provided. The charts below are updated to April 2021 for the 10 largest US oil producing states. U.S. […]

Iran Says It Can Quickly Hike Oil Output If Sanctions Are Lifted

Iran’s Oil Minister Bijan Namdar Zanganeh said his country has taken “many measures” to ensure it can raise crude production in “a very short time” if U.S. sanctions are lifted, the state-run Shana news agency reported. World powers have worked for months trying to broker an agreement between Iran and the U.S. that would restore […]

What Is Peak Oil? Have We Reached It?

Peak oil is the theoretical timeline for when domestic or global oil production will hit its maximum rate and begin to decline. It’s the idea that—at some point—the world’s finite quality and quantity of oil will decline to such low numbers that it would no longer be economic to produce. The concept has been the […]

New York City Hates Nuclear Power And Natural Gas – Now They Have To Turn Off Their Air Conditioners

New York’s Indian Point nuclear power plant was banned on April 30th of this year – because the ruling political party and the environmental lobbyists who guide decisions convinced themselves that solar was ready to fill the gap. Now the mayor of New York City, Bill de Blasio, has told residents they need to shut […]

Oil companies bet on $100 a barrel as they rush to sell assets

Oil companies are betting that if they sell land, buyers will come, as crude prices have soared more than 50% this year, fueling the most robust pipeline of deals in more than four years. Large oil companies are unloading properties from Texas to California, with some using the market rally as a chance to rake […]

How colonialism’s legacy makes it harder for countries to escape poverty and fossil fuels today

While fossil fuels were powering wealthy nations’ economic growth in the 19th and 20th centuries, many countries across the Global South remained largely impoverished. Today, all that burning of oil, coal and natural gas has warmed the planet toward dangerous levels, and science shows that fossil fuel use must decline to slow climate change. At […]

‘Ocean on fire’: Flames erupt in Gulf of Mexico after gas pipeline ruptures

A fire on the surface of the Gulf of Mexico erupted after a gas leak from an underwater pipeline sparked a blaze, according to Mexico’s state-owned Pemex petrol company.

Why the World Can’t Afford an Oil War

It wouldn’t be an oil meeting without brinkmanship, but the stakes are high for the world economy as OPEC+ ministers resume talks today on an output agreement. Until a last-minute objection by the United Arab Emirates, the oil cartel and its allies thought they had a deal to boost monthly supplies by 400,000 barrels a day between August and […]

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