Saudi Arabia Just Killed The Petrodollar Right In Front Of Our Eyes

The last 24 hours have marked another major waypoint along the path to my long-held contention that Russia, China and Saudi Arabia are going to make a massive, collective push to try and dethrone the U.S. dollar as global reserve currency. Anybody who has read my 23 Stocks To Watch For 2023 (or any of […]

Are You Really Against Fossil Fuels? Read This Before You Answer

It is easy for anyone to say that they are against fossil fuels. Opposition to coal, oil and natural gas is fashionable and will prompt heads to nod and even hands to applaud in most places.  But are people aware of the extent to which their lives are dependent on fossil fuels? Do they know […]

Visualizing U.S. Consumption of Fuel and Materials per Capita

Visualizing U.S. Consumption of Fuel and Materials per Capita Wealthy countries consume massive amounts of natural resources per capita, and Americans are no exception. According to data from the National Mining Association, each American needs more than 39,000 pounds (17,700 kg) of minerals and fossil fuels annually to maintain their standard of living. Materials We […]

No, the World Is Not Heading Toward ‘Mass Extinction’

Have you heard? The world is about to end! 60 Minutes recently featured Paul Ehrlich, author of the bestseller, The Population Bomb. “Humanity is not sustainable,” he said. Why would 60 Minutes interview Ehrlich? For years, Ehrlich said, “We are very close to a famine” and, “In the next 15 years, the end will come.” […]

Gasoline Price More Expensive Than Year Ago

The price of regular gasoline in the U.S. is more expensive than year ago levels, according to data from the U.S. Energy Information Administration (EIA), AAA Gas Prices, and GasBuddy. In its most recent gasoline and diesel fuel update, which was released on January 23, the EIA pegged the U.S. regular gasoline price at $3.415 […]

Big Oil Saw Record $199Bn Profits In 2022 But 2023 Will Be Different

ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023. The five companies are expected to report $198.7 billion in combined 2022 profit in the coming days, 50% higher […]

The Worst Food Crisis In Modern History

People on the other side of the planet are dropping dead from starvation right now, but most people don’t even realize that this is happening.  Unfortunately, most people just assume that everything is fine and dandy.  If you are one of those people that believe that everything is just wonderful, I would encourage you to […]

Peak Oil – The Hedonic Adjustment

Arthur Berman: “Peak Oil – The Hedonic Adjustment” Episode 54 January 18, 2023 (Conversation recorded on January 2nd, 2022) Show Summary On this episode, petroleum geologist Arthur Berman returns to unpack the development and drawbacks of ‘peak oil’. Art explains how our institutions have redefined what is considered oil, which has created an illusion of […]

More pain at the pumps in 2023

A key driver of inflation – high gasoline and diesel prices – are expected to continue well into 2023, and it’s not just high oil prices and loss of Russian oil that will drive volatility, according to a new forecast from Kalibrate. The retail analytics firm warns gasoline and diesel prices could be even higher […]

Why We Should Get Rid Of The Strategic Petroleum Reserve

In March 2022, as crude oil prices spiked amid Russia’s war in Ukraine, President Joe Biden announced that he would be tapping into the Strategic Petroleum Reserve (SPR) to help mitigate rising gas prices. In what he called a “wartime bridge,” Biden authorized the release of up to 180 million barrels over six months. This […]

Analysts Predict Freeport LNG Restart Date

Rystad Energy now anticipates Freeport LNG will restart in March at the earliest. That’s according to Rystad Energy Vice President Emily McClain, who made the statement in a market note sent to Rigzone recently. McClain highlighted in the note that a “full ramp up” at the site was not expected until “mid-year”. “Freeport LNG’s restart […]

Iran Oil Gushes Into Global Market

Iran’s oil exports are surging, offering solace to both Tehran and a global market fretting over the prospect of sanctions squeezing Russian supply. Much of it appears to be finding its way to China. The Persian Gulf country’s oil exports surged to about 1.3 million barrels a day in November, and last month held near […]

The Sobering Insanity of Oil Sanctions

“Insanity is doing the same thing over and over again and expecting different results.” Although this household witticism is largely attributed to Albert Einstein, its usage has been traced back as far as 1944 by novelist Rita Mae Brown.  To this day, I’m genuinely shocked at how many times we see this quote aptly fit […]

US LNG And EU Import Capacity Imparity

Just barely into the new year and the LNG industry found itself in the spotlight again, with many unprecedented new events and shifts to evolve. Notwithstanding that LNG is slated to be more global than ever, we just cannot not give US LNG exporters credit for the boost in their LNG supplies to EU, amplified […]

Kunstler: Glug Glug, Gurgle Gurgle

You thought the Titanic sinking was an astounding spectacle? Looks like the ship of the Deep State got some holes ripped in its hull and may be fixing to go down sometime in 2023. The fun-and-games about voting for Speaker of the House are over. Time to get down to bidness and compel some folks […]

China’s ‘Artificial Sun’ Achieves Super I-Mode That Could Lead To More Stable Fusion Energy

China is progressing on its “artificial sun project” to develop a nearly infinite energy source. Chinese scientists working on this project have uncovered a previously unknown mode of plasma activity that may enable more reliable and efficient nuclear fusion energy production. A breakthrough and demonstration of a new plasma operation scenario called Super I-Mode was […]

Liquid asset: why we won’t solve the climate crisis without fixing water

Water is an impact multiplier for sustainability and inextricably linked to climate change and the degradation of ecosystems. Ninety per cent of natural disasters are water-related – whether flood, drought, or super-storm – causing millions in damages annually. With each passing year, there are more record-setting wet and dry seasons, affecting livelihoods, creating supply chain […]

China’s Oil Demand Is Set To Hit A Record High In 2023

China’s oil consumption is expected to jump by 800,000 barrels per day (bpd) this year to a record 16 million bpd, after Beijing abandoned the strict ‘zero Covid’ policy and re-opened its borders, a median estimate of 11 China-focused consultants polled by Bloomberg News showed. Following the initial exit Covid wave after the strictest curbs […]

EIA Slashes 2023 Brent Forecast

The U.S. Energy Information Administration (EIA) has cut its 2023 Brent spot average price forecast by 10 percent in its latest short term energy outlook (STEO). The EIA now sees the commodity averaging $83 per barrel this year, compared with $92 per barrel in its previous STEO. Looking ahead to 2024, the EIA’s latest STEO […]

Turkey Claims Black Sea Gas Reserves Worth $1 Trillion

Turkish President Recep Tayyip Erdogan has claimed that the country’s gas reserves in the Black Sea were now valued at $1 trillion. This announcement by Erdogan comes after a new field find in the Black Sea and the revision of reserves in the Sakarya field. Namely, Turkish Petroleum’s drillship Fatih discovered a new reserve of […]

Robots Will Be Oil and Gas Industry Growth Engine

Robots will be the oil and gas industry’s growth engine, according to data and analytics company GlobalData. “The volume of robotics use cases in the oil and gas industry is expected to grow rapidly, in tow with digitalization,” Anson Fernandes, an oil and gas analyst at GlobalData, said in a statement sent to Rigzone. “Industrial […]

Can Global Oil Production Climb If The U.S. Shale Boom Is Over?

Prior to the pandemic-induced downturn in world oil production, U.S. oil production growth was responsible for 98 percent of the increase in world production in 2018 (as reported in 2019). Almost all of that growth resulted from rapid increases in shale oil production which accounted for 64 percent of U.S. production (as of 2021). Fast […]

Kunstler: Chat with David Collum about his Year in Review

And thanks to all my Patrons for your support   David Collum is the Betty R. Miller Distinguished Professor of Chemistry at Cornell University. He moonlights as an Internet gadfly offering commentary on culture, politics, finance, and technology, He publishes a massive Year in Review essay every Christmas season and it’s available at Chris Martenson’s […]

Ehrlich To 60 Minutes: ‘Next Few Decades Will Be End Of The Kind Of Civilization We’re Used To’

90-year-old biologist and Ecoscience author Paul Ehrlich fearmongered about global warming during a recent appearance on CBS‘s “60 Minutes.” Ehrlich, a known eugenicist who incorrectly predicted millions of deaths from famine by the 1980s, warned “humanity is not sustainable” and that “The next few decades will be the end of the kind of civilization we’re […]

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• 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