BP Exec to Give Global Energy Forecast

The United States could become energy self-sufficient in as few as six years, predicts multinational oil and gas company BP. Also by 2023, natural gas will replace oil as the most-used fuel in U.S. energy consumption. Global coal consumption will peak in the mid-2020s as China reins in its economic growth and uses cleaner, lower-carbon […]

Beijing, Saudi Arabia agree to more oil cooperation, exports to China

China and Saudi Arabia will increase their cooperation in the oil sector, including in Saudi oil exports to China, the two countries said in a joint communique issued on Saturday at the end of Saudi Arabian King Salman’s visit to Beijing. The world’s largest oil exporter has been looking to cement ties with the world’s […]

Researchers make discovery that could increase plant yield in wake of looming phosphate shortage

UNC-Chapel Hill researchers make discovery that could increase plant yield in wake of looming phosphate shortage   Phosphate is vital for best crop yields, but global supply is limited and could peak in 30 years.   (Chapel Hill, N.C. – March 15, 2017) – Scientists at the University of North Carolina at Chapel Hill have […]

What Really Caused The EIA Oil Draw?

Crude prices are rebounding today, bouncing off the trampoline of price support at $48 for WTI and $50 for Brent. A surprise draw to U.S. crude inventories (not to some) has been behind the rally (see more below), while the monthly IEA report followed in OPEC’s footsteps by showing higher Saudi production, and higher OECD […]

Diesel may not be running on fumes after all

From disdain to redemption to disgrace: Rudolf Diesel’s fuel-frugal invention has travelled a rocky road in North America. “Slow, noisy and dirty” was the public perception of diesel during its disdain phase decades ago. Redemption came with the advent of turbo-diesels – such as Volkswagen’s TDI that seduced open-minded buyers with its tsunami of quiet, […]

A Time of Seven Generations

  I am going to put off publishing another chapter of How I Survived Collapse for another week to publish instead this compilation article from posts made Inside the Diner on the topic of developing self-sufficiency.  We had a lively discussion on this topic this week, and I would like to share it while it […]

Global population to use 71% more resources by 2050

The global population is set to grow by 28 per cent and is predicted to use 71 per cent more resources per capita by 2050, says an international research centre. Without urgent steps to increase efficiency, the global use of metals, biomass, minerals such as sand, and other materials, will increase from 85 to 186 […]

IEA Says Oil Market Could Tilt Into Deficit In 1H If OPEC Sticks To Cuts

Global oil inventories rose for the first time in January as the market grappled with a swell in production last year, but if OPEC maintains its output cuts, demand should overtake supply in the first half of this year, the International Energy Agency said on Wednesday. The IEA’s monthly report struck a more bullish note […]

Saudi Aramco to resume oil product shipments to Egypt soon

Saudi Arabian state oil company Aramco will resume oil product shipments to Egypt some six months after suddenly halting them, the Egyptian Petroleum Ministry said on Wednesday. The ministry said in a statement it was working out a timetable with Aramco for the resumption of shipments and that commercial reasons related to global oil prices […]

Big energy fears peak oil demand is looming

In an attempt to improve the quality of Beijing’s polluted air, the authorities are planning to mandate that every new taxi in the city must be electric or gas-fuelled, China’s National Business Daily reported last month. Beijing’s taxi drivers are no fans of the electric cabs in use there since 2014, complaining about inadequate battery […]

Asia Recovers Its Appetite for Oil

Forget oil’s drop below $50 a barrel and rising U.S. stockpiles. Emerging Asia, home to more than half the world’s population and 40 percent of forecast economic growth through 2020, is showing signs of recovering its appetite for crude. Oil exporters’ love for the region has long been unrequited. Saudi Arabia and Russia have been fighting […]

Why EROEI matters: the role of net energy in the survival of civilization

  The image above was shown by Charlie Hall in a recent presentation that he gave in Princeton. It seems logic that the more net energy is available for a civilization, the more that civilization can do, say, build cathedrals, create art, explore space, and more. But what’s needed, exactly, for a civilization to exist? […]

Saudi Arabia Won’t Let Oil Head Back To $20s Again

Saudi Arabia and American frackers are gearing up for the second oil war. It will take oil lower, but not back to $20 again. Saudi Arabia has kept its promise. It has cut oil output by 486,000 barrels a day, in line with the OPEC agreement the Kingdom pulled together last October, helping oil stabilize above […]

Can China Lead The World Economy?

Summary China is routinely presented in media as the world’s next economic leader. It has delivered impressive GDP growth. However, it is not as developed as its image in media suggests. Also, it does not innovate. Its growth may not continue as expected due to the rise of automated manufacturing. China is routinely presented in […]

Shell CEO: Peak oil demand could arrive in late 2020s

The global demand for oil could peak as soon as the late 2020s as the world continues to rely more on natural gas and renewable energy sources, Royal Dutch Shell CEO Ben van Beurden said Thursday at the CERAWeek by IHS Markit conference in Houston. Van Beurden acknowledged he disagrees with many of his energy […]

Why $50 is more likely to be a ceiling than a floor for the oil price

OPEC’s production cut agreement is not yet succeeding in driving down supply, suggesting that $50 per barrel oil may turn out to be a market top, industry experts told CNBC on Thursday. The predictions follow Wednesday’s slump in oil prices when the benchmark WTI and Brent indices both tumbled over 5 percent to close the […]

High-rises could be hit hard by blackouts

APARTMENT prices could drop over the threat of more frequent blackouts, which can cause chaos among residents stuck in lifts and without airconditioning. Power outages can create headaches for apartment dwellers who are left without access to lifts, or stuck inside them, when the lights go out. It’s a problem that could start to impact […]

Falih Says Peak Oil Demand Talk Misguided

Assumptions about stranded oil seen as discouraging investment IEA chief says growth may be slowing, but agrees no peak near Saudi Arabia’s top oil official dismissed the notion that global demand may soon peak and leave billions of barrels of untapped crude stranded in fields that will never be drilled. Khalid Al-Falih, energy minister for […]

IEA: Huge Oil Price Spike Inevitable

Three years of drastic cuts to upstream spending because of the meltdown in oil prices could result in a shortage of oil supply in a few years, according to a new report from the International Energy Agency. When oil prices collapsed in 2014, oil producers quickly took an ax to their spending. Global oil and […]

Oil Tanks To $51 Handle – One-Month Lows

It seems ever-exuberant energy traders are finally waking up to the reality that the global rebalance is not happening. A record glut of crude and surging production has sent WTI back to a $51 handle this morning (one-month lows) and has weighed on gasoline prices… WTI has broken below its 100-day moving average as the […]

Food demand predictions could be inaccurate

The widely held view that food production needs to double by 2050 to feed a growing world population may be inaccurate. In a study published in the journal Bioscience, researchers from Penn State’s agriculture college have challenged that view, saying the required increase may be as high as 70 per cent — or as low […]

IEA warns of potential shortage of global oil supplies in 3 years

The recent drop in oil industry investment brought on by weak prices threatens to significantly slow supply growth in the long term, and could lead to a shortage when it comes to meeting global demand, the International Energy Agency said in its five-year oil market forecast released Monday. That may happen even as crude stockpiles […]

Oil Glut: IT’S THE DEMAND, STUPID!

Discuss this article at the Energy Table inside the Diner I ran across a chart on Bloomberg which is perhaps the best demonstration to date that the Oil Economy is in Full On Collapse mode now.  The chart is of Oil Inventory in storage, and covers the last 35 years since 1982 of Oil Inventory […]

Peak oil? Not any time soon

We’ve heard for decades that there is a phenomenon known as peak oil. The Green taliban all want us to change our ways because apparently oil is going to run out soon. That argument wasn’t really gaining traction so along came climate change to scare us into using alternative fuel sources. However, peak oil is […]

Rethinking economic progress, and how far we have yet to go

Today, the world’s population is, on average, about 20 times richer than it was during the long Agrarian Age. Between 7000 BC and 1500 BC, resources were scarce, technological progress was slow, and Malthusian pressures kept almost all human populations at a near-subsistence level, with per capita daily income of less than $1.50 in today’s […]

Electric Car Threat To Oil Is Wildly Overstated

Summary At the outset of the 2014 oil collapse, slacking oil demand growth was often cited as a major contributor to the sharp decline in oil prices. The global economy, reshaped by the information technology revolution, has generally become less fuel intensive. One of the most powerful arguments against sustained oil demand growth is the […]

Doomsday Scenario: A World Without Oil

Suppose the rapture happened. Not the kind followed by the Second Coming of Jesus as promised by Paul, but a rapture of oil. Imagine that one night, just after the last parents finish tucking in their toddler after falling into a post-ice cream coma, that … poof! All of the world’s oil in untapped reserves […]

Have we reached ‘peak stuff’?

A disapproval of excess and excessive behaviour has been around since classical times. The ancients knew that too much of anything wasn’t good for us. You cannot live your life with the dial permanently turned up to eleven. The Greek goddess Sophrosyne embodied the spirit of moderation, temperance and restraint, and those who ignored her […]

BP Says Peak Oil Demand May Occur Post-2050, Plans to Increase Production

In the wake of the expected growth trends set out by its energy outlook, BP plc revealed in its latest strategy update that it anticipates production to increase by an average of 5 percent per year from 2016 to 2021. BP Group production, which includes BP’s share of production from Rosneft, is expected to be […]

6 Things That Will Happen If Our Power Grid Goes Down

Imagine if you will, what would happen if you pulled an American family from the 19th century, and plopped them in the middle of downtown Los Angeles during rush hour. They’re not given a warning, they’re not given any kind of primer on what they’re about to experience, and the occurrence is completely inexplicable. How […]

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