The World Is Failing In Both Energy Affordability And Climate Goals

Global energy investment is forecast to rise by 8 percent to $2.4 trillion this year. Investment in renewables is rising, but it’s nowhere near the levels necessary to limit global warming within a 1.5 degrees Celsius increase. IEA: Inflation has brought the first increases in the cost of renewables in a decade. U.S. shale spending […]

Why we must nationalize Big Oil

During the financial crisis in 2008, the federal government protected the economy by bailing out companies it considered “too big to fail.” Normally, the government protects the economy from companies that are too big to exist. Companies that prevent competition by dominating an industry are called monopolies. The Justice Department or Federal Trade Commission use […]

The Gas Inflation Crisis Is Far From Over – Where Will Prices Finally Stop?

After a single Federal Reserve rate hike of 75bps I am noticing a trend among mainstream economists whipping out their crystal balls and predicting an almost immediate reversion to deflationary conditions. In their view, a recession will “balance everything out.” For most of these people I would suggest that they keep their crystal balls in […]

$150 Oil Could Still Happen. Here’s How.

$150 oil could still happen, BofA Global Research indicated in a new report sent to Rigzone this week. In the report, BofA Global Research outlined that it sees Brent averaging $102 per barrel this year and in 2023 and highlighted that a potential spike to $150 per barrel could happen if European sanctions push Russian […]

Germany faces natural gas ‘crisis,’ raises warning level

Germany activated the second phase of its three-stage emergency plan for natural gas supplies Thursday, warning that Europe’s biggest economy faces a “crisis” and storage targets for the winter are at risk after Russia reduced energy deliveries to several countries. The government said the decision follows cuts Russia made to natural gas flows starting last […]

A garage-sized reactor could provide limitless energy

Seattle-based Zap Energy is using a lesser-known approach to nuclear fusion to build modular, garage-sized reactors. They are cheaper and don’t require the large, incredibly powerful magnets used in traditional fusion experiments. Ultimately, they may also provide a quicker route to achieving commercially viable nuclear fusion, a press statement reveals. A cheaper alternative for nuclear […]

Stagflationary Collapse Has Arrived

In my 16 years as an alternative economist and political writer I have spent around half that time warning that the ultimate outcome of the Federal Reserve’s stimulus model would be a stagflationary collapse. Not a deflationary collapse, or an inflationary collapse, but a stagflationary collapse. The reasons for this were very specific – Mass […]

Russian gas flows to Europe below demand

Russian gas flows to Europe fell short of demand on Friday, coinciding with an early heatwave gripping its south and boosting benchmark prices already lifted by concerns the continent may struggle to build up storage in time for winter. Italy and Slovakia reported receiving less than half of the usual volumes through the Nordstream 1 […]

The 1970s Again?

For the United States and much of the rest of the world, the 1970s were a time of high oil prices, surging inflation, stock market swoons, political upheaval, and geopolitical tension. Add pandemic and climate change to the list, and it also sounds like a fair description of the world today, a half-century later. Psychoanalyst […]

IEA Sees Oil Supply Struggling to Meet Demand Next Year

Global oil supply will struggle to meet rising demand next year, meaning consumers will continue to face tight fuel markets, the International Energy Agency said in its first assessment of 2023. A resurgent Chinese economy will bolster consumption, while tighter sanctions on Russia will curtail oil output, the agency forecast in its latest monthly report. […]

The People vs. Petrocracy

The United States is moving fast on climate change—in the wrong direction. The Energy Information Agency forecasts that by 2023, the nation will set a new annual record for oil extraction: 4.6 billion barrels. Plans to build more than 200 new natural gas power plants are in the works. More than 130 new oil and gas pipelines now under […]

Global Energy Crunch is Making Gas Too Pricey for Asia

A breakneck rally in Asian natural gas spot prices is forcing some importers to halt plans to buy additional shipments of the power plant fuel. North Asia spot liquefied natural gas prices are surging toward $40 per million British thermal units, the highest in over three months, on fears of a global supply squeeze, according […]

US dollar and oil prices are breaking from their historical trade link

A strong US dollar has historically put downward pressure on oil prices, but that hasn’t been happening lately. The US dollar has strengthened to a 20-year high, while crude prices have skyrocketed. “It’s a double whammy for everyone outside the US,” an economist told Insider. A strong US dollar has historically put downward pressure on […]

Iran and Venezuela sign 20-year cooperation plan

Iran and Venezuela signed a 20-year cooperation plan in Tehran on Saturday as the two countries, among the world’s top oil producers, grapple with U.S. sanctions that are crippling their exports. The signing ceremony, carried by Iranian state TV, was overseen by Iranian President Ebrahim Raisi and his Venezuelan counterpart Nicolas Maduro and took place […]

Gas hits $5 a gallon

Gasoline prices in the U.S. just hit $5 a gallon for the first time, and there’s little relief in sight. Average national prices rose to $5.004 on Saturday, according to AAA, though that’s not adjusted for inflation. The milestone comes just as the peak summer driving season gets underway. The news is unlikely to surprise […]

“Virtual Children” for the Good of Earth

What if you had a child who was simply a virtual reality, who had no existence about from your own wishes? British psychologist Catriona Campbell, whose aim is to secure “a healthy, human-centred relationship with AI,” thinks that’s the way of the future and better for the planet. The vision of the author of AI […]

Is the world heading towards Peak Oil?

Let’s park up all the environmental downsides of oil usage for the moment. Because despite all of oil’s sins, most of humanity depends on it for everything from the clothes we wear to the means we employ to get about. Even a lot of the food we eat and many of the modern medicines that […]

Can ‘degrowth’ save us?

HALF a century ago, in 1972, The Limits to Growth — a book commissioned by the Club of Rome that reported on the predicament of mankind and the implications of continued economic growth — revealed that Earth’s interlocking resources, the global system of nature in which we all live, probably could not support present economic […]

The weaponisation of energy and Europe’s way out

The fast-changing environment requires Europe’s energy system not only to adapt but to also find the right mechanisms to ensure its unity in the face of turbulent challenges. In March 2022, European solidarity was translated into tangible policy action when EU leaders officially agreed to jointly buy natural gas, liquified natural gas (LNG), and hydrogen […]

America Is Facing An Absolutely Enormous Economic Crisis

Not too long ago, the elite were trying to put a happy face on our growing economic problems.  It was obvious that things were trending in a very alarming direction, but they kept assuring us that any bumps in the road were just temporary and that a new golden age of prosperity was just around […]

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
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• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
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• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy