Harold Hamm calls for oil correction

Continental Resources Chairman and CEO Harold Hamm said Monday that 2016 will be the year oil market corrects as supply and demand come into balance. “We’ve seen tremendous growth in the market for our supply. It’s up about 3 percent on an annual basis, so it’s quickly correcting,” he told CNBC’s “Squawk Box.” “2016 will […]

Who’s right, commodities or the Fed?

The Pythoness of the Oracle of Delphi As the U.S. Federal Reserve Bank raised interest rates last week for the first time in 10 years in response to what it said was strength in the U.S. economy, economically sensitive commodities such as industrial metals and crude oil continued to plumb new cycle lows. Either these […]

What Past Oil Crashes Say About Today’s Slump

What has changed, and what has not? The oil industry is going through its third crash in prices since the formation of the OPEC cartel. Many are wondering when the market will recover and what oil prices will be when it finally does. The first price crash came in the mid-1980’s, a decade after OPEC’s […]

An Over-Supply of Underpriced Oil: Explaining the New Energy Crisis

The Organization of Petroleum Exporting Countries (OPEC) recently met in Vienna to discuss an official output quota. By the end of the meeting, however, the member countries did not agree on a quota and oil production remains near record levels. While this may not seem like breaking news, the group’s decision will have major ramifications […]

China Might have Passed ‘Peak Coal’ in 2013

China possibly saw its coal consumption peak in 2013, according to the International Energy Agency (IEA). The seismic shifts underway in China have global implications for both coal use and emissions. Global coal use fell by 0.9% in 2014, the first fall this century, says the IEA’s Medium Term Coal Market Report 2015. It says […]

Get Ready for $20 Oil

For those of you waiting for the inevitable rebound in oil prices, you might be waiting a while longer. Global energy markets are still holding out for a much bigger contraction in oil supplies before the oil price rallies, but the ongoing low-oil-price environment will likely put further pressure on this process. With the price […]

Oil Price Scenarios for 2016

Every year I have a bet with a good friend on where the Brent oil price will be in December the following year. Last year I estimated $56.50, my friend $99, so this year I am a clear winner, even though I’m out by about 49%. Brent is trading at $38 as I write. I can […]

U.S. Oil Is Too Good, Too Expensive and Too Far for Asia Buyers

Exports seen offering diversity of supply, not discounts U.S. supplies more likely to head to Latin American buyers In the world’s biggest oil market, buyers have better options than U.S. crude. As the country inches toward ending the last restrictions on exports, Asian buyers will probably have a limited appetite for the quality of crude […]

Collapse Cafe – Canadian Prepper

A few weeks ago I ran into a series of videos created by Canadian Prepper, “After the Collapse” for his You Tube channel, which as the name suggest is more oriented towards Prepping than analysis of Collapse Dyamics.  However, he crosses over to this area just as we  cross over into discussions of Prepping, on […]

Something Strange Is Taking Place In The Middle Of The Atlantic Ocean

Early last month, we noted that something very strange was happening off the coast of Galveston, Texas. As FT reported, “the amount of oil [now] at sea is at least double the levels of earlier this year and is equivalent to more than a day of global oil supply.” In short: the global deflationary crude supply […]

For a Resilient Future, Put Community First

Imagine a respite from the relentless torrent of bad news! Both The Transition Towns (Transition) and  Intentional Communities movements facilitate secession, to varying degrees, from the exploitive culture that surrounds us, and build alternatives that are supported by broad networks.  Now the two movements have joined together to share lessons learned about egalitarian community building. […]

I’ll Farm Your Lawn

Peak Moment Television by Janaia Donaldson download (size: 25 MB ) Audio: I’ll Farm Your Lawn (298)

$30 Oil Will Accelerate Much Needed Rebound

Oil markets are waiting for a much greater supply contraction before prices rebound, and the deeper downturn in prices will test the current pace of adjustment. With WTI dipping to $35 per barrel, it will likely spark deeper cuts to spending and drilling, which could perhaps contribute to an accelerated pace of adjustment. In other […]

Inequality and Globalization

When it comes to wealth and income, people tend to compare themselves to the people they see around them rather than to those who live on the other side of the world. The average Frenchman, for example, probably does not care how many Chinese exceed his own standard of living, but that Frenchman surely would […]

Economics After Capitalism

In his book Economics After Capitalism: A Guide to the Ruins and a Road to the Future (Pluto Press, 2015), Derek Wall (International Coordinator of the Green Party of England and Wales) discusses various critiques of capitalism, and examines how we can create practical alternatives to capitalism and build a ‘democratic economy and a future […]

KunstlerCast: Chatting with Chuck Marohn of StrongTowns.org

The Christmas Breakfast 2015, Hubbard Hall, Cambridge, New York Charles Marohn is the Founder and President of Strong Towns, a non-profit advocacy organization focused on the financial predicament local governments find themselves in as a result of America’s suburban experiment. Chuck has a Bachelor’s degree in Civil Engineering from the University of Minnesota’s Institute of […]

IEA Warns of Worsening Oil Glut

PKVerleger LLC president Phil Verleger discusses the changing economics of oil with Betty Liu on “Bloomberg Markets.”

Gas price might go below $2

Gasoline is close to breaking below a key psychological barrier as ­drivers enjoy some of the cheapest pump prices since the recession. The nationwide average price of a gallon of regular Saturday was $2.02, down 58 cents from this time last year, according to auto club AAA. Experts say it could drop below $2 a […]

In Asia, King Coal Hard to Dethrone

Philippines’ dependency on the fossil fuel illustrates a challenge in Paris climate talks MANILA—The Philippines is set to open 23 coal-fired power plants over the next five years to meet rising electricity demand, illustrating the challenge climate-talk negotiators face in crafting a deal that reduces carbon emissions. Competition from natural gas and environmental regulations have […]

$100 never again

The crash in oil (CLF16.NYM) has rocked commodities markets as crude prices hover near the lowest level in seven years. Fadel Gheit, managing director and senior analyst at Oppenheimer, told Yahoo Finance’s Alexis Christoforous in the video above that $100-per-barrel oil is a thing of the past—$60 to $70 per barrel is the new normal. […]

Peak Oil: are we seeing the real one?

Art Berman reports on his blog the latest data from IEA. These data speak volumes about what has been happening in the oil markets during the past two years or so. The whole thing seems to have gone out of control, with everyone pumping as much as possible, worrying only about harming competitors and without […]

Guess What Happened The Last Time The Price Of Oil Plunged Below 38 Dollars A Barrel?

On Monday, the price of U.S. oil dropped below 38 dollars a barrel for the first time in six years.  The last time the price of oil was this low, the global financial system was melting down and the U.S. economy was experiencing the worst recession that it had seen since the Great Depression of […]

Economic Growth: How It Works; How it Fails; Why Wealth Disparity Occurs

Economists have put together models of how an economy works, but these models were developed years ago, when the world economy was far from limits. These models may have been reasonably adequate when they were developed, but there is increasing evidence that they don’t work in an economy that is reaching limits. For example, my […]

Chevron CEO: Oil prices will be higher in a year

Oil prices will likely climb in the next year as supply and demand in the market begin to even, Chevron CEO John Watson said Tuesday. “We’ve got a slight imbalance in demand and it’s going to take some time to work that off,” he told CNBC’s “Power Lunch.” Watson did not give a specific price […]

China, Mideast Gas Use to Overtake Europe by 2035

Europe won’t return to peak consumption levels seen in 2010 China’s unconventional gas producion growth uncertain China and the Middle East, spurred by lower prices and ample supply, will drive global natural gas demand growth in the next 25 years as consumption in Europe fails to recover to peak levels seen in 2010, according to […]

Why Oil Is About to Start a Huge, Multi-Month Rally

As often happens after large degree trends reach maturity, the crowd becomes fully associated with the what has happened, and misses the next great opportunity. This exact scenario is not only occurring in crude, again (as it did at the low of one lesser trend degree at the 2009 low, but also happened at the 2008 […]

Downscaling of Economic System

The book under review is an ensemble of a variety of “keywords” that are deployed for constructing “counter-hegemonic narratives” of economic growth. These alternatives represent a corpus, deliberately termed as degrowth—instead of a-growth.1 Degrowth: A Vocabulary for a New Era is more of an overview, it is less of an encyclopaedia, and certainly not a […]

Mapping the Emerging Post-Capitalist Paradigm

“We do not live in an era of change, but in a change of eras” is the way Jan Rotmans from the University Rotterdam describes the structural changes impacting our societies. This is also the phrase Michel Bauwens chose to open his latest book yet to be published in English which title is likely to […]

Selective Anti-Modernism and the Shape of ‘Society

As far as the individual is concerned, each individual is in any case a child of his time; thus philosophy, too, is its own time comprehended in thoughts.  It is just as foolish to imagine that any philosophy can transcend its contemporary world as that an individual can overleap his own time or leap over […]

Demand for OPEC crude to rise by 1.2m barrels daily in 2016

Dr Ibe Kachikwu, the President, Organisation of Petroleum Exporting Countries (OPEC), says the demand for OPEC crude is expected to rise by 1.2 million barrels per day in 2016. This is contained in a statement signed by Ohi Alegbe, NNPC’s Group General Manager, Group Public Affairs Division, and released to newsmen in Abuja on Saturday. The […]

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