BP’s ‘Peak Oil’ Demand Prediction Falls Flat

Always mandatory reading, BP just released its Energy Outlook 2019.  It has caused quite a stir again this year. But, this time the commotion that I see surrounds BP’s forecast that the global war on plastics will be the main factor in cutting global oil demand faster than previously expected. As such, for the first time BP’s outlook predicted a “peak” […]

Get ready for pushback in the war on plastic

© Justin Sullivan/Getty Images Petrochemicals are becoming increasingly important to the oil industry as cars go electric. The fossil fuel industry’s lobbying has been effective in Washington, slowing efficiency improvements for cars, rolling back light bulb regulations, and so much more. But the rise of the electric car is expected to put a big dent […]

As More Electric Cars Arrive, What’s The Future For Gas-Powered Engines?

Most American automobiles are powered by internal combustion engines: Gas or diesel goes in, tiny explosions power pistons and turn a crankshaft, the car moves forward, and carbon dioxide goes out. But a growing chorus environmental activists, business analysts and auto executives are predicting a sea change as battery-powered electric vehicles grow in popularity. Going […]

Oil Will Continue to Play Significant Role

Although the precise outlook is uncertain, the world looks set to consume significant amounts of oil for several decades. That’s according to BP’s latest Energy Outlook, launched in London on Thursday, which considers a range of scenarios. All the scenarios in BP’s 2019 outlook suggest that oil will continue to play a significant role in […]

BP warns war on plastic will help cut global oil demand

he war on single-use plastics could cut demand for oil faster than previously expected over the next two decades, BP has warned. The oil major predicted a peak in global oil demand for the first time last year, and in its latest outlook report warned that a crackdown on plastic waste, which is made from […]

Will Oil Ever Hit $100 Again?

Oil will hit $100 per barrel again, according to RoseAnne Franco, head of oil and gas at global risk consultancy Verisk Maplecroft. “It’s a question of when and will it stay there … the level of geopolitical uncertainty we confront today is particularly volatile and precisely the type of conditions that could lead to an […]

Is a key ingredient humans need to live about to run short?

Phosphorus is essential for all living organisms. So, it’s not surprising that humans get their phosphorus from other living organisms, mostly plants, that have absorbed phosphorus from the soil. The introduction of phosphate fertilizers made it possible to ensure that enough phosphorus for healthy plant growth is available in practically any farmland soils. At first, […]

Oil and economy poised between growth and recession

Policymakers and analysts who claim the outlook is “unusually uncertain” are normally overstating their own forecasting problem and understating the difficulties faced by their predecessors. The outlook always looks more certain in retrospect, when the outcome is known, and a causal chain can be constructed that makes it appear nearly inevitable, than it does in […]

Bank Of America: Oil Demand Growth To Hit Zero Within A Decade

By 2030, oil demand could hit a peak and then enter decline, according to a new report. For the next decade or so, oil demand should continue to grow, although at a slower and slower rate. According to Bank of America Merrill Lynch, the annual increase in global oil consumption slows dramatically in the years […]

Global EV car sales surge 63% in 2018

Global sales of passenger car electric vehicles (EVs) jumped by 63% last year to top 2 million units for the first time, helped by surging sales of plug-in EVs in the US, according to data provided by EV-Volumes. A total of 2.08 million plug-in EVs were delivered to customers in 2018, or 2.2% of total […]

Gail Tverberg on Peak Oil

A few years ago, especially in the 2005-2008 period, many people were concerned that the oil supply would run out. They were concerned about high oil prices and a possible need for rationing. The story was often called “Peak Oil.” Peak Oil theorists have also branched out into providing calculations that might be used to determine […]

The Great Oil Paradox

The shale boom has created a world awash with crude, putting a lid on prices and markedly reducing U.S. dependence on imported energy. But there’s a growing problem: America is producing the wrong kind of oil. Texas and other shale-rich states are spewing a gusher of high-quality crude — light-sweet in the industry parlance — […]

The Future Is Asian: An Interview With Parag Khanna

“The future is Asian” according to geopolitical strategist Parag Khanna. In his new book, Khanna argues that we are witnessing a tectonic shift in global power. If the 19th century belonged to Europe, and the 20th century to the United States, then the 21st century now belongs to Asia. Beyond the era of Western hegemony, Asia is returning […]

Is An Oil Supply Crunch Looming?

The global oil and gas industry is poised to increase spending this year, albeit modestly, in a bid to boost supply after a punishing period of low oil prices. The industry has succeeded in cutting costs and speeding up project timelines, achievements that will help companies adapt to a market that may never return to […]

$90 Oil More Likely Than $40 Oil

$90 per barrel oil is more likely than $40 per barrel oil. That’s according to Majid Jafar’s, CEO of Cresent Petroleum, who expressed the view in a television interview with CNBC on Thursday. “I’m an optimist. I actually think there will be a [U.S.-China] trade deal. I actually think that despite some, you know, doom […]

Heinberg: Sooner or Later, We Have to Stop Economic Growth — and We’ll Be Better for it

Both the U.S. economy and the global economy have expanded dramatically in the past century, as have life expectancies and material progress. Economists raised in this period of plenty assume that growth is good, necessary even, and should continue forever and ever without end, amen. Growth delivers jobs, returns on investment and higher tax revenues. […]

Oil Prices Jump As China Seeks To End Trade War

Oil prices were relatively quiet this week, bouncing around, but closed out the week on a positive note. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) Friday, January 18th, 2019 IEA: Balancing oil market will be a “marathon.” The IEA said in its latest Oil […]

IEA Sees Oil Demand Growth Defying Economic Slowdown

Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency. “We have seen prices fall very significantly since the peak at the beginning of October, and that is providing some relief to consumers,” Neil […]

Here’s Why Oil Is Headed To $80

Summary The oil sell-off was extremely overdone and anticipated scenarios that are very unlikely to occur. Saudi Arabia’s power to control prices intermediate term is vastly underappreciated by shale struck traders. Canada cutting oil exports to the U.S. is one part smart for them and one part “Trudeau’s Revenge!” Oil inventories have been showing draws […]

Waking up from the Chinese dream

There have been better starts to the New Year. The December Caixin Manufacturing PMI, a survey of Chinese manufacturing activity, contracted for the first time in 17 months. Soon after, reports began to emerge that China’s growth target will be lower than that set for 2018. Apple, once the world’s most valuable company, sent shock […]

2019: World Economy Is Reaching Growth Limits; Expect Low Oil Prices, Financial Turbulence

Financial markets have been behaving in a very turbulent manner in the last couple of months. The issue, as I see it, is that the world economy is gradually changing from a growth mode to a mode of shrinkage. This is something like a ship changing course, from going in one direction to going in reverse. The […]

India likely to overtake US to be world’s second largest economy by 2030

As per the economists, India is projected to accelerate to 7.8 percent by the 2020s while China’s will moderate to 5 percent by 2030 reflecting a natural slowdown given the economy’s size. As per the economists, India is projected to accelerate to 7.8 per cent by the 2020s. (File) India is likely to overtake the […]

The Recession Will Be Unevenly Distributed

Those households, enterprises and organizations that have no debt, a very low cost basis and a highly flexible, adaptable structure will survive and even prosper. The coming recession will be unevenly distributed, meaning that it will devastate many while leaving others relatively untouched. A few will actually do better in the recession than they did in […]

Darkening Outlook For Global Economy Threatens Crude

“The outlook for the global economy in 2019 has darkened.” That conclusion came from a new report from the World Bank, citing a variety of data, including softening international trade and investment, ongoing trade tensions, and financial turmoil in emerging markets over the past year. “Storm clouds are brewing for the global economy,” the World […]

Can Hacking Plants Feed the World?

Scientists Amanda Cavanagh (left), Paul South (center) and Donald Ort (right) found tobacco plants engineered to shortcut photorespiration are about 40 percent more productive in real-world field conditions. Claire Benjamin/RIPE Project Plants are good at what they do — turning sunlight into food. However, some researchers have found the leaf world could improve, and that […]

Has oil’s demise been greatly exaggerated?

I often speak to people who are concerned about how long the oil industry will last and have the misconception that its demise is just around the corner. This is very far from the truth and I think comes from two factors, that oil price has been below the heady days of $100/bbl for some […]

Oil ends year down 25%, its worst annual showing since the crash of 2015

Oil capped its worst annual showing since 2015 as fears of scarcity turned into panic about a glut. Futures in New York eked out a small gain on Monday but finished the year down 25 per cent, completing a reversal few anticipated just three months ago, when prices jumped to a four-year high. There’s growing […]

Oversupply Will Keep Oil Prices Under Pressure

An energy information provider, Argus Media stated that an oversupply of oil will ensure the prices are under intense pressure even after entering the New Year. However, with the passing time, the cuts of the producers will ensure the crude prices are boosted. This condition refers to the scenario in which the balance between the […]

US energy independence is not the shining prize it seems

It is a common sensation at this time of year: waiting for something in eager anticipation, only to find it disappointing when it eventually arrives. For decades, the US has dreamt about ending its dependence on foreign oil. Now “energy independence”, defined in that way, is very close, the limitations of that ambition have been […]

Facing soil crisis, US farmers look beyond corn and soybeans

Shovel in hand, Duane Hager heads for his cornfield and digs up a shovelful of dirt, revealing wriggling earthworms. Although a pelting rain has soaked his gray T-shirt in seconds, not a single puddle lies in the field or in the cow pasture beyond – a sign of vigorous, uncompacted earth. “If you have soil […]

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