Robert Rapier: Peak Oil In Four Years?

Between 2010 and 2015, annual oil production in the U.S. grew by four million barrels per day (BPD). Production dipped in 2016, but then U.S. crude oil production again rose by 1.2 million BPD between January and December 2017, to levels that haven’t been seen since the early 1970s. The surge in production is a […]

India Will Lead Global Oil Demand By 2035

Oil market participants and analysts have been closely watching the record level of supply coming out of the United States that is threatening to undo OPEC’s production cuts. But in the latter part of 2017 and early in 2018, robust oil demand growth — both in emerging markets and OECD economies — has supported oil […]

Surge in global oil supply may overtake demand in 2018

The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday. FILE PHOTO: A gas station attendant pumps fuel into a customer’s car at a gas station in Shanghai, China November 17, 2017. REUTERS/Aly Song/File Photo The Paris-based IEA […]

Fixation on timing of peak oil is ‘misguided’

The electric car revolution and stricter global rules on emissions have focused debate in the energy sector on when decades of growth in oil demand will eventually peak. But Spencer Dale, chief economist at energy major BP and former Bank of England policymaker, has challenged the industry to come up with a better question. In […]

Beyond oil: We’ve come so far

This is the second of three columns dedicated to making the case that Alaska, like the rest of the world, can move beyond oil and into the clean energy economy.  Alaska’s economy was small yet stable pre-pipeline. As noted in my previous column, if we get the funding reliance switched from oil revenues to the […]

Electric cars may reduce global demand for oil by mid-2020s

The emergence of electric cars can lead to a reduction of oil consumption by road transport by the mid-2020s, the Russian Central Bank said in its report. Read also According to the Central Bank, the speed of the development of the electric vehicle market and the rate of growth of the efficiency of fuel consumption […]

IEA: Surge In Global Oil Supply May Overtake Demand In 2018

The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday. The Paris-based IEA raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd, after the […]

Oil Prices: Collapse Now, Spike Later

Oil prices closed out the week sharply down, wiping out all the gains posted since the start of the year. Surging U.S. shale production, along with broader financial turmoil, has clearly put an end to the bullish mood in the oil market. U.S. shale struck several blows against oil prices this week. First, the EIA […]

Kris De Decker: Enough Is Enough

Podcast: Play in new window | Download Subscribe: Apple Podcasts | Android | RSS In our quest to make a better world, we often strive for more efficient use of resources. But is the goal of efficiency the right one? Our guest this week on Sea Change Radio, Low Tech Magazine founder, Kris De Decker, […]

Keep on trucking? No, Keep on Platooning!

  The concept of “platooning” involves electronically connected trucks running close to each other. It is a much more innovative idea than that of self-driven private cars and it has the potential of revolutionizing road transport by drastically reducing costs. (image from scania.com). Self-driving cars (or “automated vehicles,” AVs) are all the rage in the […]

Oil slips to biggest weekly loss in 2 years amid market turmoil

Oil prices slid more than 3 percent on Friday as US futures fell below $60 a barrel for the first time since December on renewed concerns about rising crude supplies. Oil prices slid more than 3 percent on Friday as US futures fell below $60 a barrel for the first time since December on renewed […]

Big Oil, Meet Your Next Rival: The Flying Car

At a time when EVs and driverless technology are all the rage, Chinese drone maker EHANG has posted footage of the latest test flights of its EHANG 184 passenger-carrying all-electric autonomous aerial vehicle. According to the Chinese company that was created in 2014, the EHANG 184 series is “the world’s first passenger drone capable of […]

Pakistan’s Water Crisis Is a Ticking Time Bomb

When it comes to Pakistan, President Trump’s Twitter feud with one of America’s most important partners in the fight against terrorism has dominated the news. But beneath the headlines, a massive water crisis is unfolding that has profound implications for the country’s stability and security. Rapid urbanization and conflict combined with corruption, crime and years […]

Will Peak Oil Come Anytime Soon?

Our taste change, technologies evolve, live goes on and whether we like it or not, the world changes every day. To put it bluntly, change is inevitable. Although it’s an inevitable reality of our world, it doesn’t mean that we’re on the verge of it. On January 24, 2018, British Petroleum (BP) held its annual […]

China surpassed the United States as the world’s largest crude oil importer in 2017

Source: U.S. Energy Information Administration, Petroleum Supply Monthly and Weekly Petroleum Status Report, China General Administration of Customs, based on Bloomberg, L.P. Note: December U.S. imports derived from weekly crude oil imports. China surpassed the United States in annual gross crude oil imports in 2017, importing 8.4 million barrels per day (b/d) compared with 7.9 […]

Peak Money: a permanent change

The end of economic growth: the recession that will not end in our lifetime   We are past limits to growth, this is not a cyclical recession Some of the media, government elites, and the financial world knew the 2008 financial crash was imminent but feigned surprise in public while planning their exit strategies and […]

Peak Fracking

What the Frack? a short term, toxic bubble fracking is a toxic, desperate effort to maintain natural gas and petroleum supplies. Conventional oil peaked in the USA in 1970 and conventional natural gas peaked in 1973. Fracking has not raised domestic oil production above this level, although the conventional natural gas peak has been surpassed, […]

Peak oil is back and better than ever

Back when oil prices were high, people were talking a lot about peak oil supply — the possibility that we’d run out of new sources of crude oil eventually. But now people are talking about peak oil demand — the possibility that we’ll just stop using the stuff as we come up with better options. Most recently, […]

Exxon sees global oil demand plunging by 2040

Exxon Mobil Corp said on Friday that it expects global oil demand to drop sharply by 2040 if regulations aimed at limiting the impact of greenhouse gas emissions on climate are fully implemented. An oil pump jack is seen at sunset in a field outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann Under […]

MIT Researchers: US Oil Production Estimates May Be Flawed

There’s something odd about the U.S. oil production boom. Yes, the U.S. is now a player on the world energy stage, producing enough to strike fear into the hearts of OPEC‘s member states. Crude oil production in the U.S. has practically doubled in just 10 years and is now approaching the production levels of OPEC’s […]

A New, Unanticipated Oil World

A letter in a November 1999 edition of the Oil & Gas Journal, “Running Out of Oil,” written by an industry consultant, stated 11 facts and predictions. Far from unusual, his facts were generally correct and his prognostications mainstream. U.S. oil production was in decline in the 1990s. Oil imports were rising. This led George […]

Oil demand: Beware the gap

Peak oil demand has swiftly moved from concept to potential to symbolic talisman—and it means different things to different people. Most often, the debate centres on the year when this peak may occur. Is it 2025? 2035? And these days the discussion never fails to mention electric vehicles, which—runs the argument—will eat away at oil’s […]

How Much Energy Do We Need?

Because energy fuels both human development and environmental damage, policies that encourage energy demand reduction can run counter to policies for alleviating poverty, and the other way around. Achieving both objectives can only happen if energy use is spread more equally across societies. However, while it’s widely acknowledged that part of the global population is […]

Asia’s energy landscape in 2018

The dynamics of Asia’s energy landscape is changing fast as prices – from crude oil to LNG – are staging a sharp recovery. What kind of pressure Asian importers will face in 2018? Will there be demand destruction? Are we going to see a change in supply patterns?   The S&P Global Platts Asian oil […]

Every One of the World’s Big Economies Is Now Growing

A decade after the world descended into a devastating economic crisis, a key marker of revival has finally been achieved. Every major economy on earth is expanding at once, a synchronous wave of growth that is creating jobs, lifting fortunes and tempering fears of popular discontent. No tidy, all-encompassing narrative explains how the world has […]

Natural gas consumption sets record

The natural gas industry received a gold star for performance during the recent cold weather across a large portion of the United States. The Energy Information Administration (EIA) reported recently consumption of natural gas in the residential and commercial sectors set a record for the week ending on Jan. 5. EIA said consumption reached 452 […]

Tanker With Russian Gas to Land in Boston Over the Weekend

The tanker carrying Russian natural gas that’s been sitting outside of Boston Harbor for days will probably land over the weekend, according to the U.S. Coast Guard. The Gaselys carries liquefied natural gas originally produced in Siberia, according to vessel tracking data. The ship, poised to dock at Engie SA’s Everett import terminal, would be […]

A new analysis says global demand for oil will peak by 2030

The global demand for crude oil will peak in 2030 as electric vehicles continue to chip away at the market for gasoline-powered cars and trucks. So say analysts with Bank of America Merrill Lynch, who predict that EVs will grow to 40 percent of new-car sales worldwide over the next 12 years. “Electric vehicles will […]

Oil Demand Gushing Again

The price of a barrel of Brent crude oil rose to $68.88 a barrel yesterday, one of the highest recent readings since December 2, 2014. That’s a spectacular 147% rebound from the January 20, 2016 low of $27.88. It’s remarkable because it follows a 76% crash in the price of this commodity from its June 19, […]

Why Oil Prices Could Dive

WTI briefly touched $65 per barrel after the EIA reported a surprise drawdown in inventories — the highest price since late 2014. Although the rally hit some stumbling blocks in recent days, prices remain at multi-year highs. However, absent further bullish news, the downside risk looms large. One of the most acute threats to prices […]

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