Bounty from mother earth

Natural resources play a vital role in economic development and Gujarat is among the lucky states which are rich in mineral wealth. The state has rightly unlocked its treasure so that mineral-based industries can flourish.With vast deposits of limestone, lignite and bauxite, as also reserves of petroleum and natural gas, Gujarat is among the top […]

Luxembourg is going to mine asteroids for minerals

Luxembourg is planning to go into space to mine minerals from asteroids — and it will get help from Google founder Larry Page. Luxemburger Wort, one of the country’s newspapers, reported that Etienne Schneider, Luxembourg’s deputy prime minister and minister of the economy, said the government would work with one of the world’s largest satellite […]

The REAL Reason Sunni Governments Like Saudi Arabia Are At War Against the Shias

The Shias Are Sitting On All of the Oil and Gas While the Sunnis and Shias have been competing for more than a thousand years, they have largely co-existed peacefully until recently. Why are they involved in an open war across multiple countries now? Much of modern geopolitics is driven by hydrocarbons … i.e. oil […]

Arthur Berman: Why The Price Of Oil Must Rise

Geologist Arthur Berman explains why today’s low oil prices are not here to stay, something investors and consumers alike should be very aware of. The crazy-low prices we’re currently experiencing are due to an oversupply created by geopolitics and (historic) easy credit, not by sustainable economics. And when the worm turns, we are more likely […]

Doubting The Peak

Dennis Coyne, an editor and frequent contributor to this blog, has suggested that we are not at peak oil. He argues that there is likely to be a dip in production starting next year but higher prices will cause things to turn around and we will surpass the 2015 peak by 2019. He commented a few […]

Gazprom Confirms Commitment to Arctic Region

Gazprom Chairman Alexey Miller underlined his company’s commitment to the Russian Arctic region in his Christmas and New Year address Tuesday. The statement followed news Monday that Gazprom’s board of directors had approved a RUB 842 billion ($11.8 billion) investment program for 2016. Noting Gazprom’s leadership position in the Russian petroleum industry, Miller said: “We […]

All Roads Lead To Peak Oil

I follow the JODI World Oil Database primarily because it is now four months ahead of the EIA international data base. I make some adjustments however. I use the OPEC MOMR “secondary sources” for all OPEC data where JODI also uses the MOMR but uses their “direct communication” data instead. The OPEC portion of the JODI […]

Barnett Shale Resources Twice as Large than Previously Thought

A new assessment now estimates the size of the Barnett shale play’s undiscovered, technically recoverable resources to be twice as large as originally thought. According to a recent U.S. Geological Survey Assessment (USGS), the Barnett shale contains estimated mean volumes of 53 trillion cubic feet (Tcf) of shale natural gas, 172 million barrels of shale […]

Bigger gas reserves undermine Peak Oil

In yet another blow to the Peak Oil theory, a new survey shows that Texas is even richer in natural gas than previously believed. Natural gas – cleaner than coal and very adaptable to other uses – is abundant and available. Peak Oil, you’ll recall, is the theory driving much of the Obama administration’s energy […]

An “oil theologist” is needed to interpret the given resources and reserves in World Energy Outlook 2015

This year’s big news regarding the reporting of oil reserves in World Energy Outlook 2015 is that this annual report now discusses “resources that are technically possible to produce” and what proportion of these are proven reserves. When I was working on Chapter 17, The Peak of the Oil Age for my new book a […]

Egypt Update: Net Oil Importer and Chokepoints

Oil production and consumption Fig 1: Oil production vs consumption After a post-peak decline production has stabilized but consumption has increased relentlessly at a long-term 1.7% pa, slightly below population growth of around 2% pa. Egypt is now a net oil importer. On these trends, the gap between consumption and production is likely to get […]

Abiogenic Petroleum: Peak Oil and Fossil Fuels – Debunked

Episode 241 is a very important discussion regarding oil and so-called “fossil fuels” and “peak oil”, with Greg Quinones, titled: “Abiogenic Petroleum: Peak Oil and “Fossil Fuels” – Debunked”. This episode is being released for Thursday, December 03, 2015, and was recorded November 22. Greg Quinones is a business consultant, writer, public speaker, trainer and […]

Why are Fossil Fuels such popular energy sources?

Fossil fuels have been an incredibly successful source of cheap, instant energy. If it was not for climate change and peak oil, they would still be our number one choice. Fossil fuels get their name because they are literally made from fossils — dead organisms (mostly plants) that didn’t decay because they were squashed under […]

Confidence In Oil Hub Security Shaken By Oklahoma Earthquakes

The ground is shaking near Cushing, Okla., home to the largest commercial crude oil storage center in North America. This little patch of prairie in northwestern Oklahoma is one of the most important places in the U.S. energy market. Oklahoma is on track to have a record year of earthquakes — more than 5,000 have […]

US oil, natural gas reserves increased in 2014

From the U.S. Energy Information Administration today: Source: U.S. Energy Information Administration, U.S. Crude Oil and Natural Gas Proved Reserves U.S. crude oil and lease condensate proved reserves increased by 9% to 39.9 billion barrels, and natural gas proved reserves increased by 10% to 389 trillion cubic feet in 2014, according to EIA’s U.S. Crude […]

Shell finds 100 million oil barrels in deep-water Gulf discovery

Probing one of its recent discoveries in deep waters of the Gulf of Mexico, Royal Dutch Shell found 100 million barrels of oil equivalent buried at its Kaikias field, nearby three of its massive production facilities and a network of subsea pipes, the company said Wednesday. The one-year-old Kaikias discovery, about 60 miles south of […]

Groundwater is mostly non-renewable

Less than 6% of groundwater is replenished within 50 years The water that supplies aquifers and wells that billions of people rely on around the world is mostly a non-renewable resource that could run out, a new Canadian-led study has found. While many people may think groundwater is replenished by rain and melting snow the […]

An “oil theologist” is needed to interpret the given resources and reserves in World Energy Outlook 2015

  This year’s big news regarding the reporting of oil reserves in World Energy Outlook 2015 is that this annual report now discusses “resources that are technically possible to produce” and what proportion of these are proven reserves. When I was working on Chapter 17, The Peak of the Oil Age for my new book […]

Earth Is An Oil-Producing Machine — We’re Not Running Out

Ever since M. King Hubbert in the 1950s convinced a lot of people with his “peak oil” theory that production would collapse and we’d eventually exhaust our crude supplies, the clock has been running. And running. And it will continue to run for some time, as technology and new discoveries show that there’s still an […]

Living in the Anthropocene – a Frame for New Activism

We are living in a new time. A new world has emerged. Like many things that are new on such a scale it is at once frightening, disturbing, uncomfortable. We have emerged from the geological epoch of the Holocene into a new epoch designated as the Anthropocene.[1] This notion of the Anthropocene refers to a […]

Chevron Announces Discovery in the Deepwater Gulf of Mexico

Chevron Corporation (NYSE: CVX) today announced the successful appraisal of the Anchor discovery in the Lower Tertiary Wilcox Trend. “The positive results of our appraisal work at Anchor indicate a significant discovery of potentially hub class scale.” said Jay Johnson, executive vice president Upstream, Chevron Corporation. The original Anchor discovery well, located in Green Canyon […]

Saudi Arabia oil reserves reach record level

In late summer 2015, commercial oil reserves of Saudi Arabia reached 326.6 million barrels, thus setting a new record for the world’s largest oil supplier since 2002. Thus, the level of oil reserves in July amounted to 320.2 million barrels, while oil exports fell from 7.28 million barrels per day in July to 7 million […]

Oil companies “virtually abandoning” exploration

The hunt for new stores of oil and gas has been dramatically curtailed amid a global crude slump, with exploration budgets at the largest oil companies expected to tumble 50 percent next year from their peak levels in 2013, according to a new analysis. Investment banking firm Tudor, Pickering, Holt & Co., which tracked exploration […]

Cuban Oil: Black Gold or Black Hole?

Cuba has oil and gas. That is certain, say geologists. The big question is just how much. Chris Schenk, Geologist at the U.S. Geological Survey, was one of the first to assess the island’s natural resources. By Schenk’s estimate Cuba has at least 4.6 billion barrels of undiscovered oil and 9.8 trillion cubic feet of […]

Oil companies face difficulties replacing reserves

It’s getting harder for western oil companies looking beyond American shores to replace the proven reserves that are the industry’s lifeblood. The shale boom has kept Houston’s oil hub and smaller firms well supplied for now. But some of the industry’s giants are readying massive steel armadas to explore deeper waters, and developing technologies for […]

China Triples Proven Reserves at Top Shale Gas Project

China has nearly tripled the size of proven reserves at its Fuling project, by far the country’s largest shale gas find, according to an official from investor Sinopec Corp and an industry report. The Jiaoshiba block of the project, in the municipality of Chongqing in southwest China, has 273.8 billion cubic metres (bcm) of newly […]

Israel Oil Discovery: Massive Reserve Could Meet Domestic Demand

A massive oil reserve has been discovered in the Golan Heights by an Israeli energy company, regional news outlets reported Wednesday. The find by Afek Oil and Gas, confirmed to be 10 times larger than the average oil field worldwide, could boost Israel’s relatively young oil industry and meet domestic energy demands. “There is enormous excitement,” Yuval Bartov, the oil […]

U.S. earthquakes possibly tied to oil and gas work

A coalition of U.S. states warned on Monday that a spike in earthquakes potentially tied to oil and gas activity in places not typically prone to them needs urgent attention from regulators and others to protect public safety. The report to be released later on Monday by States First includes input from governors, regulators and […]

Shell Pulls the Plug on Arctic Exploration

Royal Dutch Shell plc announced Monday that it will cease exploration activity offshore Alaska after failing to make a commercial find at the Burger J well, located in Alaska’s Chukchi Sea. The well was drilled to a total depth of 6,800 feet and although indications of oil and gas were found at Burger J, they were “not […]

Kuwait To Start Offshore Oil Exploration

Kuwait plans to start an offshore oil exploration programme within two years, state news agency KUNA on Wednesday cited a Kuwait Oil Co (KOC) executive as saying, part of plans to boost oil output capacity. In comments suggesting Kuwait will maintain energy investments despite plunging oil prices, KOC’s manager of planning, Bader Al-Attar, was quoted […]

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