Peak Oil is You

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News from March 2024

Is It Time To Abandon the Idea of Phasing Out Oil and Gas?

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Despite feigning interest, Big Oil still appears to oppose the global green transition and could well stand in its way. As Saudi’s state oil company leader condemns the green transition and calls for long-term oil production, other major industry players are voicing their scepticism around renewable energy and clean tech. Despite large investments into green […]

More than 20% of global refining capacity at risk of closure

Recent analysis by Wood Mackenzie finds that, based on forecasted 2030 net cash margins, 121 out of 465 screened refineries are at some risk of closure. This represents a cumulative 20.2 million b/d of refining capacity, or 21.6% of global 2023 capacity. The future viability of refinery facilities will be dependent on a combination of […]

Charles Hugh Smith Blog: Fire, Then Ice Our Deflationary Future

Lest you weep for those whose phantom wealth will be drained away, recall that few win when a reserve currency dies. Labor can start earning the day after the reset, but the capital lost is gone for good. Outside the “everything’s always fine” echo-chamber, the consensus is that easily created fiat currencies will all evaporate as […]

Saudi Aramco CEO Amin Nasser says energy transition strategy ‘visibly failing’

Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday. “In the real world, the current transition strategy is visibly failing on most fronts,” Saudi Aramco Chief Executive Amin Nasser said at the CERAWeek conference in […]

100 million-degree ‘artificial sun’ sets new records in hunt for energy’s ‘Holy Grail’

Scientists in Korea have sustained plasma at temperatures seven times hotter than the sun for longer than ever before after upgrading a key component, an advance that could provide invaluable data for an international fusion mega-project planned to launch next year. The Korean ‘artificial sun’, known as KSTAR, sustained the plasma at temperatures of 100 […]

New England’s last coal plants to voluntarily shut down

Granite Shore Power (GSP) announced an agreement with U.S. Environmental Protection Agency (EPA) setting a firm date for the voluntary closure of Merrimack Station and Schiller Station, New England’s last remaining coal plants. Merrimack Station has two coal-fired steam units and two kerosene-fueled combustion turbine units for a total of 482 MW (winter capacity). The […]

Kunstler: Oh Say Can You See?

Who was not impressed seeing the sudden and total collapse of the Francis Scott Key Bridge after getting its pylon bonked by the container ship Dali a few hours before the dawn’s early light in Baltimore harbor? In America’s ongoing death-of-a-thousand-cuts, that one literally severed a major artery, but it may take a while to […]

Kurt Cobb: Can We Find a Balance Between Economic Growth with Environmental Sustainability?

The perils that threaten the continuity of human civilization are so obvious that it is puzzling that so little is being done to counter these perils. In fact, much is being done to hasten their arrival. Climate change, nuclear war, toxic pollution leading to complete loss of human fertility, solar storms and electromagnetic pulse weapons […]

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