Brits Google ‘Energy Bill Help’ As Energy Suppliers Go Bankrupt

Google searches for ‘energy bill help’ exploded over three thousand percent in the UK on November 17, the same day two more energy suppliers collapsed. Neon Energy and Social Energy Supply both ceased trading earlier this week, leaving 35,000 more customers in need of rescue from market regulator Ofgem. Recent analysis of Google data from […]

Carrots and sticks: why energy prices won’t fall for a long time

We often write here about the global economy being at an inflection point. Many of the great trends that have shaped the last few decades are coming to an end. The age of cheap labour is ending as politics restricts easy migration and the world’s population ages. The easy growth, productivity gains and deflationary impulses […]

China Struck By Diesel Shortage

China’s attempts to defy the laws of supply and demand when it comes to coal is leading to shortages elsewhere in the energy complex Gas shortages have left many gas stations across the country running out of diesel Several gas stations in North China’s Hebei Province told the Global Times on Friday that pumps had […]

California Is Aggressively Pursuing A Future Without Oil

Last week, California’s Democrat Governor Gavin Newsom proposed a 3,200-foot buffer zone between oil and gas wells and homes, schools, hospitals, and other populated areas across the whole of California. At present, around 5 million Californians live within 1 mile of an oil or gas well. This new rule would not apply to existing wells […]

Oil Demand Is Soaring

Fuel consumption is soaring around the globe, and with millions of barrels of daily refining capacity offline, refiners still in the game are reaping some of their fattest margins in years. Globally, about 2.3 million barrels a day of refining capacity was shut during the pandemic and another 1 million barrels are likely to be […]

Robert Rapier: The U.S. Oil Supply Is Still Out Of Balance

You may find it curious that the price of oil is still above $80 a barrel. This is also why gasoline prices are at the highest levels since 2014. But, there is a good explanation for it. In January 2020, just before the Covid-19 pandemic began to sweep across the U.S., domestic oil production was […]

Gas prices hit 7-year high; experts say hike likely to continue

Gas prices hit a seven-year high Friday and show no signs of coming down as they typically do this time of year. The national average for a gallon of unleaded gasoline was up to $3.38 by Friday afternoon, according to Gas Buddy, which tracks fuel prices. Motorists were paying an average of $2.16 a gallon […]

World food prices hit 10-year peak

World food prices rose for a second consecutive month in September to reach a 10-year peak, driven by gains for cereals and vegetable oils, the United Nations food agency said on Thursday. The Rome-based Food and Agriculture Organization (FAO) also projected record global cereal production in 2021, but said this would be outpaced by forecast […]

Energy Crisis Threatens to Hit USA Grids

The energy crisis that’s led to electricity shortages and blackouts in Europe and Asia may be heading for the U.S. Electric companies are alerting customers about winter price hikes and an energy hedge fund warned of potential gas shortages. Ernie Thrasher, chief executive officer of Xcoal Energy & Resources LLC, said utility executives have told […]

An energy crisis is gripping the world, with potentially grave consequences

Energy is so hard to come by right now that some provinces in China are rationing electricity, Europeans are paying sky-high prices for liquefied natural gas, power plants in India are on the verge of running out of coal, and the average price of a gallon of regular gasoline in the United States stood at […]

The workers who keep global supply chains moving are warning of a ‘system collapse’

Seafarers, truck drivers and airline workers have endured quarantines, travel restrictions and complex Covid-19 vaccination and testing requirements to keep stretched supply chains moving during the pandemic. But many are now reaching their breaking point, posing yet another threat to the badly tangled network of ports, container vessels and trucking companies that moves goods around […]

Colossal Fossil Total Projects Peak Oil by 2030, Still ‘Leaves it to Others’ to Meet Paris Targets

A shareholder action group says TotalEnergies is leaving it to others to meet the carbon reduction goals in the Paris agreement, after the Paris-based colossal fossil predicted the world will hit peak oil demand around 2030 but still produce 40 to 64 million barrels per day in 2050. At Total’s annual Investor Day Monday and […]

Petrol bosses warn fuel shortage ‘getting worse’ in London

Fuel shortages are getting worse rather than improving, especially in London and the south-east of England, the chairman of the Petrol Retailers Association (PRA) has warned. Brian Madderson said it remains a “really big problem” in this part of the UK, and told the BBC’s Today programme: “In London and the South East and possibly […]

Europe’s Energy Crisis Is Coming for the Rest of the World, Too

This winter, the world will be fighting over something that’s invisible, yet rarely so vital—and in alarmingly shorter supply. Nations are more reliant than ever on natural gas to heat homes and power industries amid efforts to quit coal and increase the use of cleaner energy sources. But there isn’t enough gas to fuel the […]

Total Sees Oil Demand Peaking Before 2030

French energy giant TotalEnergies SE expects global oil demand to peak before the end of this decade, sooner than it previously forecast, as more nations crack down on fossil fuels to fight global warming. The oil major’s 2021 Energy Outlook, which includes net-zero pledges unveiled by several countries since the presentation of last year’s edition, […]

Oil climbs for sixth day on supply concerns, Brent tops $80

Brent at highest since 2018, WTI highest since July As OPEC reopens taps, African giants struggle to pump more China faces power shortages, hitting factory output LONDON, Sept 28 (Reuters) – Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which […]

How to end the American obsession with driving

This summer’s series of extreme wildfires, hurricanes, and tropical storms have made it more apparent than ever that the effects of climate change are here. Limiting the damage caused by future disasters will require a whole-of-government approach — one not limited to what the federal government can do. There’s a host of ideas that states […]

Citi Not Ruling Out $100 NatGas

Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly cold winter. Liquefied natural gas prices are skyrocketing as seasonally low European inventories, booming Chinese demand and supply constraints […]

Petrol/Fuel Shortages UK and World Wide 2021

Is There is a Petrol Shortages? If Not, Why Are the Petrol Stations Being Closed? https://www.telegraph.co.uk/business/2021/09/23/petrol-shortage-uk/ Merriam King Huppard Peak Oil https://youtu.be/HFlLtn9YNag Saddam Destroys Kuwait Oil Fields 19…

Saudi Arabia Maintains Position of Top Oil Supplier to China

Saudi Arabia, the world’s largest oil exporter, maintained its leadership of crude suppliers to China for the ninth consecutive month in August, as major producers eased production cuts. Data from the General Administration of Customs in China showed on Monday that Saudi oil imports rose 53 percent from the previous year to reach 8.06 million […]

China’s Xi Jinping Promises No New Coal Plants Abroad As It Ramps Up Domestic Production

Chinese leader Xi Jinping pledged at the United Nations General Assembly meeting on Tuesday to halt the construction of coal-fired power plants abroad. “China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power projects abroad,” Xi said in a prerecorded video. The announcement […]

Daniel Yergin’s firm predicts petroleum fuel demand peaks in 2036

Add one of the most respected figures in the oil and gas industry to those predicting that demand for petroleum products is nearing its peak. IHS Markit, of which Pulitzer Prize-winning oil historian Daniel Yergin is vice chairman, released a report Monday predicting that demand for refined products like gasoline and diesel would peak in […]

Oil Glut That Covid Built All But Gone

Global crude inventories that ballooned during the pandemic have shrunk to the lowest level in 20 months as an economic rebound in top consumers China and the U.S. drive a robust recovery in fuel demand. About 2.97 billion barrels of crude oil were stored onshore globally as of Sept. 5, the least since January 2020 […]

China’s oil consumption seen peaking around 2026

China’s oil consumption is likely to peak around 2026 at about 16 million barrels per day and that of natural gas by around 2040, according to a top executive of Sinopec Corp . Sinopec’s oil peak forecast echoes a prediction by consultancy Rystad Energy in April that cited rapid adoption of electric vehicles as the […]

9/11 had major impact on energy industry

Energy infrastructure undergirds just about everything. An above-ground network of power lines keeps the lights on, the A/C running and the Wi-Fi connected. An underground network of pipelines fuels stoves and furnaces and allows gasoline to flow freely from the pumps. In Wyoming, energy is plentiful — and predictable. Most people don’t really have to […]

Oil prices could hit $200/b without new investments in upstream sector

Global oil prices could soar to $200/b if no new investments are made in the oil and gas sector in the short-term, Oman’s energy and minerals minister said Sept. 9, in reply to the International Energy Agency’s assessment for reaching net-zero emissions by 2050. The IEA said in a May 18 report that, under an […]

The U.S. Power Grid Is At Risk Of Catastrophic Failure

Future electricity systems must be made more resilient Prolonged blackouts in Louisiana following Hurricane Ida are a reminder the power grid needs to become more resilient as well as reliable if even more services such as electric vehicles are going to depend on it in the future. The electricity system is already directly responsible for […]

Global Oil Demand To Peak By 2025

New York August 25, 2021: Global crude and condensate demand would peak in four years and slump by 40 percent over the next three decades if the world moves to a path outlined by the UN’s Intergovernmental Panel on Climate Change, or IPCC, where global warming is limited to 1.5 C or 2 C degrees, […]

How Much Energy Do We Need to Achieve a Decent Life for All?

For many, an increase in living standards would require an increase in energy provision. At the same time, meeting current climate goals under the Paris Agreement would benefit from lower energy use. IIASA researchers have assessed how much energy is needed to provide the global poor with a decent life and have found that this […]

Exxon Taps Strategic Oil Reserve

Exxon Mobil Corp. is tapping the U.S. Strategic Petroleum Reserve to revive gasoline production in Louisiana after Hurricane Ida left much of the devastated state’s refining and oil production offline. Authorization to take 1.5 million barrels of crude from the government’s emergency stockpiles came after President Joe Biden said Thursday the U.S. would use all […]

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