Russia still China’s top oil supplier

Russia was China’s largest crude oil supplier in March, data showed on Tuesday, retaining the lead spot for a 13th consecutive month. Last month, Russia supplied 5.79 million tons, equal to 1.36 million barrels per day (bpd), up 23.6 percent from the same month a year earlier, data from the General Administration of Customs showed. […]

Crude Surges to Three-Year High as Saudi-Yemen Conflict Heats Up

Crude surged as strife in the Mideast region that’s home to almost half the world’s oil worsened. Futures in New York settled at their highest since December 2014, erasing earlier losses and nearing $69 a barrel, after Iranian-backed Houthis in Yemen launched unsuccessful missile attacks against Saudi Arabia, while kingdom-led forces killed a senior leader […]

Blessing of fossil fuels

Earth Day turns 48 this year and thousands of activists will “recycle” their calls for greater government control over energy resources and infrastructure. Is that a cause we should support or oppose? The question is important because abundant, affordable and reliable energy is vital to human flourishing, and government regulations put this resource at risk. […]

Has the World Reached Peak Ecological Footprint?

Humanity’s ecological footprint may have leveled off after decades of consistent increase, according to new data released last week by the Global Footprint Network. Mathis Wackernagel, founder and CEO of Global Footprint Network, speaking in an interview with me from Oxford University just before the launch, said, “We may have reached peak eco-footprint, after years of […]

Market to absorb higher oil prices, says Saudi Arabia

The global market has the capacity to absorb higher oil prices, Minister of Energy, Industry and Mineral Resources Khaled Al-Faleh has said. Faleh’s statement at a meeting of oil producers in Jeddah on Friday came as crude hit the highest level in more than three years. The statement drew a swift reaction from US President […]

Dreaming of A New Sustainable Economy

Officials from around the world came together to create and support a vision for a new, sustainable economy: a bioeconomy. Almost 1000 bioeconomy experts, from former heads of state to civil society leaders, convened in Berlin for the second Global BIoeconomy Summit to discuss best practices and challenges. Already, over 50 countries have begun to […]

The Last Temptation of Saudi Arabia

If you’re seeking signs of inflation, look no further than the rapid escalation in Saudi Arabia’s oil-price targets. Barely a week after Bloomberg News reported Saudi officials pushing to get oil up to $80 a barrel, some are now talking of $100, according to a report from Reuters. It’s just talk, of course. And it’s usually couched in terms […]

IMF: World Economy Expands Next 2 Years; Growth Fades After 2020

 International Monetary Fund experts say the global economy will continue growing well for the next two years, but expect expansion to slow after 2020. IMF research director Maurice Obstfeld said Tuesday fading trade could hurt growth and, “The first shots in a potential trade war have now been fired.” He repeated a warning the international […]

Oil prices are likely to collapse later this year

Geopolitical tensions will keep oil prices elevated heading into the summer driving season, but the energy market could be on track for a tumble in the second half of the year, according to Barclays’ head of energy commodities research. Benchmark oil futures hit more than three-year highs last week. Those gains were underpinned by strong […]

Key oil market updates

While the oil market continues to focus on supply/demand fundamentals, these are some key updates that you need to keep a tab on, U.S. oil rig count: The United States is continuing to see a surge in production. According to the latest report, the production rose to a new high of 10.525 million barrels per […]

India Must Break Its Oil Habit

One under-appreciated factor behind Narendra Modi’s success as Indian prime minister has been the tailwind he’s received from low oil prices. Brent crude averaged $99.43 a barrel during his predecessor Manmohan Singh’s second term in office, putting pressure on an economy that’s heavily dependent on imports. It began its precipitous decline from those levels just weeks after […]

What Does Prepper Food Taste Like?

After 9/11, my dad filled a duffel bag with some energy bars, a couple gallons of water, some penicillin, and a map. Amid scaremongering headlines about imminent anthrax and “dirty bomb” attacks in the city, he wanted to have some supplies on hand in case we needed to get out of Brooklyn fast. Were he […]

Cities around the world should prepare for running out of water

It’s called “Day Zero”: when Cape Town, South Africa’s bustling port city, sees its water taps run dry, and its population thrust into a perilous situation. Originally projected for this year, the impending crisis has been delayed in part by severe measures — the city instituted restrictions that amount to less than one sixth of […]

Global oil demand not to peak soon, India vulnerable to high prices

New Delhi Apr 11 (PTI) International Energy Agency said today that global oil demand will not peak in the near future and Indias vulnerability to high prices will increase with surge in its crude oil imports. Oil demand will continue to grow stronger this year, at about 1.5 million barrels per day, driven by petrochemicals […]

Oil rallies as concerns grow over geopolitics

Oil prices rose on Monday, supported by a rebound in the stock market as concerns of a trade war between the United States and China eased. A rainbow is seen over a pumpjack during sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann Brent crude LCOc1 futures rose $1.25 to $68.36 a barrel, […]

About 7% of fossil fuels are consumed for non-combustion use in the US

While most fossil fuels in the United States are burned, or combusted, to produce heat and power, EIA estimates that the equivalent of about 5.5 quadrillion British thermal units of fossil fuels were consumed for non-combustion purposes in the United States in 2017. Over the past decade, non-combustion consumption of fossil fuels has typically accounted […]

Surviving The Next Great Depression

Numerous economists and investors are warning of another great financial crisis to come but few people want to listen to them. No crisis is ever exactly like the last one and the next great depression will be different from the last one. In the last depression those who had money were in a good financial […]

How To Recognize When Your Society Is Suffering A Dramatic Decline

When historians and analysts look at the factors surrounding the collapse of a society, they often focus on the larger events and indicators — the moments of infamy. However, I think it’s important to consider the reality that large scale societal decline is built upon a mixture of elements, prominent as well as small. Collapse […]

Why the Standard Model of Future Energy Supply Doesn’t Work

The most prevalent view regarding future oil supply, as well as total energy supply, seems to be fairly closely related to that expressed by Peak Oilers. Future fossil fuel supply is assumed to be determined by the resources in the ground and the technology available for extraction. Prices are assumed to rise as fossil fuels […]

Peak Oil Demand Is Approaching Thanks to EVs and Autonomous Vehicles

Nearly a decade ago, I talked about the concept of “peak oil.” Simply put, this theory states that global oil production will hit a maximum level before declining. When oil prices hit a record high of $147 a barrel in July 2008, many analysts focused on the supply-demand equation and the topic of peak oil. […]

Kunstler: Not So Happy Motoring

It hasn’t been a great month for America’s electric car fantasy. Elon Musk’s Tesla company — the symbolic beating heart of the fantasy — is whirling around the drain with its share price plummeting 22 percent, its bonds downgraded by Moody’s to junk status, a failure to produce its “affordable” ($36,000 — Ha!) Model 3 […]

Driving An Electric Vehicle Is Far Cleaner Than Driving On Gasoline

Driving an electric vehicle (EV) has obvious climate benefits: zero tailpipe emissions. But because EVs are charged by power grids that burn fossil fuels, they aren’t necessarily zero-carbon. An EV’s carbon footprint depends on whether its power comes from renewables or fossil, and quantifying exactly how clean EVs are compared to gasoline-powered vehicles has been […]

The Seneca Effect: A Review

Writing from Berlin, where the presentation of “The Seneca Effect” is going to start in a few hours.  And here is another review by Ronny Wagner, in German, which I translated the best I could with the help of Google. The Seneca effect by Ronny Wagner | 3 Jan, 2018 |   “It would be […]

Is Turning Off The Tap Takes To Save Water?

According to the United Nations Water Development Report 2016, one of the most serious problems humanity is facing today is the scarcity of portable and clean water for drinking and domestic use. This crisis is feared to worsen dramatically in the coming decade. The World Bank’s report on India says that while the development of […]

China Seeks Greater Role in Global Oil Trade

China, the world’s largest oil importer, soon will launch a yuan-denominated crude futures contract with the potential to become a benchmark for global oil transactions. But it must overcome many challenges to earn a place alongside the internationally recognized U.S. dollar-denominated contracts. Tim Seymour, managing partner of Seymour Asset Management, notes that because the contract […]

Civilization Doomed, Says Stanford Biologist Paul Ehrlich Again

“The battle to feed all of humanity is over,” Paul Ehrlich declared in the prologue to his 1968 book The Population Bomb. “In the 1970’s the world will undergo famines—hundreds of millions of people are going to starve to death in spite of any crash programs embarked upon now. At this late date nothing can […]

Global oil demand in 2017 grew fastest in a decade

Global oil demand rose by 1.5 million barrels a day in 2017, growing at 1.6 per cent, more than twice the average annual growth rate seen in a decade, International Energy Agency (IEA) said in its report. The Paris based agency said in its Global Energy and CO2 status report 2017 that more than 60 […]

Robert Rapier: Sleepwalking Into The Next Oil Crisis

One school of thought is that future oil demand is set to decline because consumers will have better options. Many in this “peak demand” camp believe that the growth of electric vehicles will soon make oil obsolete. That’s a relatively painless view of the future and is consistent with much of our past experience. Old technologies are […]

Does The US Really Need More Oil?

U.S. oil production is set to hit a record 11 million barrels a day by 2019, according to latest figures from the U.S. Energy Information Administration. Meanwhile permits are being issued for further exploration in national parks and pressure is being put on deep water drilling and exploration in the Arctic. Domestic oil production is seen […]

The End of Scarcity

Doomsdayers fret as world population grows, yet human productivity increases all the while and resources remain abundant. It is often posited that population growth must inevitably result in the exhaustion of natural resources, environmental destruction, and even mass starvation. Only last month, a much-discussed study in the journal Nature Sustainability insisted that “Humanity faces the challenge of […]

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