Oil Shock!

Is the economy in for a jolting “oil shock”? Today we wander out to the tail end of the bell curve… look around for black swans… and raise scandalous questions. “Judging by internet searches for the term,” says Bloomberg commodities analyst David Fickling, “an oil shock is the last thing anyone should be worried about.” […]

Increase in electric vehicles isn’t the end of the road for oil

In 2016 electric vehicles represented about 1pc of global vehicle sales. However, by 2030 demand for such vehicles could rise to almost 20pc of annual global sales, according to a report from consulting firm McKinsey. In addition, recent surveys from driving-tests.org suggest that 30pc of car-buying individuals and nearly 50pc of millennials around the world […]

How long before the world runs out of fossil fuels?

Fossil fuels are the main source of energy in the world, powering much of modern civilization as we know it, from transportation to industrial applications. But this paradigm can’t last forever. Millions of years to make, only hundreds of years to spend Fossil fuels have formed over an extensive period of time from the remains […]

Oil demand could keep growing until 2050 in conflict-ridden world

Global oil demand could peak in the early 2020s if countries pull together to hit climate goals, or keep growing until 2050 in a conflict-ridden world, according to Norwegian oil and gas firm Equinor <EQNR.OL>. Expectations for when oil demand will peak could change the supply dynamics, as investors weigh up whether to back long-term […]

Oil market to continue to support Middle East economies

Economies in the Middle East ended 2017 on a high note, with a strong final quarter in 2017, despite some short-term weaknesses surfacing in early 2018 — this pattern is in part explained by the rollout of value added tax (VAT) in the UAE and Saudi Arabia and the ensuing inflation (3.0 per cent year-on-year […]

Decarbonising Heavy Industry

I was fortunate to attend part of the 9th Clean Energy Ministerial (CEM) meeting in Copenhagen and participate in a panel focussed on the steps required to decarbonise the industrial sector. It is good to see that the CEM is bringing much needed focus to this area, given that industrial emissions make up about a fifth of global […]

Oil market is ignoring the big Iran story

Helima Croft, RBC Captial Markets head of commodity strategy, and John Kilduff, Again Capital founding partner, discuss what’s affecting global oil markets as oil hits the lowest level since mid-April.

Art Berman: Think Oil Is Getting Expensive? You Ain’t Seen Nothing Yet.

After issuing clear warnings on this program that sub-$50 oil prices were going to be short-lived, oil expert and geological consultant Art Berman returns to the podcast this week to explain why today’s $70 oil prices will go higher — likely much higher — and start materially contricting world economic growth. Art explains how the […]

Citigroup’s Morse Sees ‘Plenty of Oil to Go Around’

Ed Morse, global head of commodities research at Citigroup, discusses what comes next for OPEC as oil prices drop on production concerns as he still sees the potential for $100 oil. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomber

Return to $100 Oil Is ‘Far From Unlikely,’ Norway Minister Says

Two years ago, western Europe’s biggest oil producing nation said no one should count on $100 crude coming back. Now Norway’s changed its tune. “It’s far from unlikely that we will see $100 again,” Petroleum and Energy Minister Terje Soviknes said in an interview in Oslo on Tuesday. Thanks to output cuts by OPEC and […]

Crude Oil Collapse To Canadian Energy Sector

Canadian stocks may come under pressure Monday as crude oil prices continue to plummet on renewed expectations that OPEC will ramp up production. OPEC and Russia will likely end their supply quota plan in the next few months, according to reports. Meanwhile, the U.S. shale boom is accelerating, with drillers adding the most rigs in […]

What exactly are “preppers” prepping for?

“Prepping,” or getting ready to live without societal support, is apparently a largely American activity, and a recent one. Companies that cater to people who want to be self-reliant for food, water, and power have grown their revenue by about 700 percent over the last decade, and prepper products are now offered in places like […]

Prolonged high oil prices may hurt economy

Crude oil prices are rising. This is a result of coordinated production cuts by major oil-producing nations, such as the Organization of the Petroleum Exporting Countries (see below) and Russia, which have been ongoing since January 2017. However, if prices continue to rise, it could put a damper on the robust world economy, resulting in […]

What Will Happen to Oil Prices In 2019?

Analysts at Bank of America Merrill Lynch issued a forecast in May claiming that oil prices over the next year can rise as high as $100 per barrel. Among the reasons behind the increase are the US withdrawal from the Iran deal and problems on the Venezuelan oil market. The oil prices have been on a […]

China Will Need American Shale

China’s shale gas production is picking up speed as it seeks to capitalise on the world’s highest estimated shale reserves. However, the communist-ruled nation is far from following in the footsteps of America’s shale boom, with analysts predicting China will miss its 2020 output targets by a wide margin. Nevertheless, China’s progress toward unlocking its […]

Visualizing U.S. Energy Consumption In One Chart

Every year, the Lawrence Livermore National Laboratory, a federal research facility funded by the Department of Energy and UC Berkeley, puts out a fascinating Sankey diagram that shows the fate of all energy that gets generated and consumed in the United States in a given year. Today’s visualization is the summary of energy consumption for […]

Peak oil demand in 2037 will hit 110MMbopd

MCKINSEY this week published its responses to questions from its January Global Energy Perspective 2018 Reference Case, which looks at the changing energy market globally and shows projections for how the energy transition will unfold over the next few decades. Energy New Bulletin

Here’s what happens if the oil rally turns into an ‘oil shock’

The global oil benchmark flirted with the $80-a-barrel level again on Tuesday, underlining concerns that an unexpectedly strong crude rally could eventually begin to weigh on economic growth. The combination of renewed U.S. sanctions on Iran, potential sanctions on Venezuela, a rising geopolitical risk premium, strong demand and other factors have made talk of $100 […]

We need to talk about Peak Oil again

Here’s a new indicator for you: It seems that the difference between the price of oil here and abroad is a measure of tightness in the market, with a rising spread indicating higher prices in the future, with all the inflationary pressures that that implies. From today’s Wall Street Journal: Trans-Atlantic Oil-Price Spread Soars as […]

One of the biggest risks to the world’s financial system is the $3 trillion of debt owed by oil and gas firms

[ Yet another “crash coming soon” post, if it hasn’t happened already (I scheduled this article and others to appear a year or more later, since crashes always take longer to happen than you expect. Alice Friedemann   www.energyskeptic.com  author of “When Trucks Stop Running: Energy and the Future of Transportation”, 2015, Springer and “Crunch! Whole […]

Energy exports to play ‘massive’ role in any breakthrough in the US-China trade talks

Treasury Secretary Steven Mnuchin said there is a “massive opportunity” for U.S. energy exports to China, after the trade partners reached a truce. China has emerged as one of the biggest buyers of U.S. oil since the American government lifted an export ban on the raw material in 2015. The Trump administration has also facilitated […]

The Oil Market Strikes Back

It is not an obvious connection, but the Fed and oil are inextricably intertwined. When the Fed is engaging in loose monetary policy, it tends to weaken the dollar and inflation tends to rise. A weaker dollar has a tendency to support commodity prices by making them cheaper in other currencies. So how did the […]

American Roadtrippers to Face $3 a Gallon Gas This Summer

U.S. drivers might be feeling flush after getting tax cuts amid a growing economy as they embark on the summer driving season, but road trips will cost more this year. Drivers are already paying an average of $2.90 for a gallon of regular gasoline. There may be no relief in sight as oil in London […]

Oil price keeps rising – will it come back to earth with a bump?

Changes in supply and demand mean that current highs will be corrected next year A production platform in Iran’s Soroush oil field. Other suppliers will take up the slack if Iran is out of the global market. Photograph: Raheb Homavandi/Reuters The big story in the financial markets in 2018 has been the sharp rise in […]

IEA Cuts Oil Demand Forecasts As Markets Evolve

The IEA has cut oil demand forecasts as the recent growth in oil prices continues. The agency expects demand to fall in response to high prices, but there are a growing number of analysts who believe that the fundamental drivers of oil demand are undergoing a massive shift. The IEA’s forecast sees a drop in 2018 […]

PetroChina cuts gas supplies to major users to prevent shortages

PetroChina, the country’s top gas producer, has curbed supplies of the fuel to some industrial users in northern and western regions, in the first sign of emerging tightness only two months after China experienced one of its worst winter gas crunches. FILE PHOTO: PetroChina’s logo is seen at its petrol station in Beijing, China, March […]

Asian oil demand surges

Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this year, about twice what it was during the market lull of 2015/2016. FILE PHOTO: Motorists drives past an electronic board at a gas station in […]

The Post Apocalyptic Permaculture Pig

Thus ends the life of Mr Wu. All that is left to do is tell the story. I have been avoiding thinking about this all year. Putting down my 600 lb pound friend and filling a freezer. On the way to the abattoir, tears started to come but I choked it back. Maudlin by nature, […]

What Happens If Oil Hits $100?

Bloomberg’s Tina Davis explains why higher oil prices won’t hurt the global economy as much as it has in the past. She speaks with Bloomberg’s Shery Ahn and Vonnie Quinn on “Bloomberg Markets.”

Conundrum of free parking and easy oil

It has taken me a while to understand that cost, value and ability to pay are independent things. For example, you are driving from Clarkston to Enterprise, Ore. You blow past a sign reading, “Next services 100 miles.” At Boggan’s Oasis you realize you don’t have enough gas. Luckily, there is a four-wheel drive truck […]

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