Iran finds unexpectedly high uranium reserve

Iran has discovered an unexpectedly high reserve of uranium and will soon begin extracting the radioactive element at a new mine, the head of Iran’s Atomic Energy Organisation said on Saturday. The comments cast doubt on previous assessments from some Western analysts who said the country had a low supply and would sooner or later […]

Why Hubbert’s Peak Oil Theory Fails

There has been a growing interest in the topic of peak oil theory for the past few decades. The interest emerged after the 1956 M.K. Hubbert peak oil theory successfully forecasted the peak year of crude oil production in the United States. Hubbert used a quantitative technique -Logistic Growth Curve or Bell-Shaped Curve (Fig.1)- to […]

Melting Ice Isn’t Opening Arctic to Oil Bonanza

The warming Arctic should already have transformed this impoverished fishing village on the coast of the Barents Sea. The Kremlin spent billions in the last decade in hopes of turning it into a northern hub of its energy powerhouse, Gazprom. It was once the most ambitious project planned in the Arctic Ocean, but now there […]

Resource Depletion

Resource depletion, the utilization of an asset quicker than it can be recharged. Characteristic assets are usually separated between renewable assets and non-renewable assets. Utilization of both of these types of assets past their rate of substitution is thought to be asset exhaustion. Resource depletion most regularly utilized as a part of reference to cultivating, […]

New ‘Super Giant’ Natural Gas Field Could Be Straw That Breaks OPEC’s Back

A new super-giant natural gas field could prove to be the largest ever discovered on earth and also end up satisfying energy demand in parts of the Middle East and the Mediterranean for decades to come. Italian energy firm Eni made the find off the northern Egyptian coast. According to the company, there could be […]

Eni Discovers Biggest Gas Field in Mediterranean Off Egypt

`Super giant’ gas field may hold 30 trillion cubic feet Eni is sole operator of concession in Egypt’s Shorouk block Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. The deep-water deposit in the Zohr Prospect in the […]

Brazil Offshore Subsalt Holds 176 Billion Barrels Of Oil, Gas

Brazil’s Subsalt Polygon, an offshore area that has already yielded some of the world’s largest recent oil finds, may hold enough undiscovered petroleum and gas to supply the world’s current oil needs for more than five years, researchers said. The Polygon, which covers most of Brazil’s Santos and Campos offshore sedimentary basins, contains at least […]

15 Things the World Is Running Out of

We live in an era of limited resources—peak oil, peak phosphorous, peak everything. With the world population at nearly 7.4 billion and people living increasingly energy-intensive lifestyles, there has never been a more pressing need to conserve natural resources and develop renewable energy sources. A recent report from James Hansen and 16 other leading climate experts found […]

Mysteries of Eleuthera

” What kind of force can leave a four million pound rock on top of a cliff? According to the oceanographers, it was waves. “ Eleutheran boulder The Glass Window Bridge of North Eleuthera is one of the island’s more popular attractions. Once a naturally formed bridge of rock, it was destroyed in a hurricane […]

Eni Discovers Up To 15B Cubic Meters Of Gas In Egypt

Italy’s Eni has discovered gas reserves of up to 15 billion cubic metres in Egypt’s Nile Delta region, with production set to start in two months, the Egyptian oil ministry said on Monday. The discovery was made in Western Abu Madi, 120 km northeast of Alexandria, where Eni holds 75 percent of exploration rights through […]

Norway: New reserves found in North Sea

The Norwegian government confirmed Wednesday oil and gas reserves were discovered in a North Sea area not known previously to contain hydrocarbons. The Norwegian Petroleum Directorate, the nation’s energy regulator, said reserves were discovered in appraisal and wildcat, one drilled in an untapped area, near the existing Gina Krog field in the North Sea. The […]

Burket-Geneseo Shale: The Next Super Giant?

Located above the Marcellus Shale in the Appalachian Basin, the Burket-Geneseo Shale “could be the next super giant field,” but the play is still well in its infancy and the current Marcellus development could jeopardize the ability of operators going back in down the road to pull those additional reserves, according to Gregory Wrightstone of […]

Rare Earths Not So Rare?

A blog post by 60 Minutes’ Kevin Livelli, one of the producers who reported on rare earth elements this week: Not long ago, if you had stopped me on the street and told me there was an interesting 60 Minutes story to be told about the lanthanide series of rare earth elements, I would have […]

Iran supasses Russia in natural gas reserves

Islamic Republic of Iran was introduced as holding the world’s largest proven gas reserves for the second year in a row, ahead of Russia. The National Iranian Gas Company (NIGC) in an announcement said the measured reserves of natural gas in Iran have increased to above 34 trillion cubic meters (tcm) which is about 1.4 […]

The Future of Ice Gas

Methane hydrate is a compound in which a large amount of methane is trapped within a crystal structure made up of water, forming a solid which is similar to ice. The energy content of methane occurring in hydrate form is extremely powerful and could exceed the combined energy content of all other known fossil fuels, […]

Peak Oil in Latin America

Today, I want to focus on black gold production south of the Rio Grande. Latin America’s political leaders believe (or claim to believe) that the economic future of the region is promising. They avail themselves of every summit, every conference or bilateral gathering to express their full confidence in growth, progress and development (today called […]

Qatar gas reserves to last 138 years

Qatar’s gas reserves are so vast it can maintain production at current rates for another 138 years, according to an official report published on Sunday. An “Economic Commentary” from the Qatar National Bank (QNB) said the vast reserves of Qatar will ensure it maintains its prominent position in the hydrocarbon sector “for years to come”. […]

Peak Oil: Myth Or Coming Reality?

In 1956, a geoscientist named M. King Hubbert formulated a theory which suggested that U.S. oil production would eventually reach a point at which the rate of oil production would stop growing. After production hit that peak, it would enter terminal decline. The resulting production profile would resemble a bell curve and the point of […]

Could This Trigger A New Oil Boom In Mexico?

Mexico’s state-owned oil company, Petroleos Mexicanos or Pemex, says it’s discovered one of the most copious group of oil fields in the shallow waters of the Gulf of Mexico, its largest such discovery in five years. The five fields, situated off the states of Campeche and Tabasco, have total proven, probable and possible reserves that […]

Brazil Finds More Oil, And It All Goes To The Gov’t

The National Petroluem Agency (ANP) of Brazil found another “megareserve” in the Atlantic, this one off the coast of Sao Paulo.  It is believed to big as large as the so-called Lula oil field, which holds between five and 8 billion barrels of oil. Although the discovery is made in the pre-salt fields that stretch […]

Mexico’s Pemex unveils large oil find

The Mexican state oil company Pemex has announced one of its biggest discoveries in years, unveiling new shallow water oil fields in the southern Gulf of Mexico that it says could produce 200,000 barrels per day by mid-2018. The total proven, probable and possible reserves of the fields could be as high as 350m barrels […]

Man digging for water finds natural gas reserve instead

  A man who dug a 70m-deep hole in search of his own personal water supply struck a huge natural gas reserve instead. Sanya Sanyasiri, 41, was convinced if he went deep enough he’d find groundwater he could tap into for his car repair workshop in Thailand. He also fancied having his own private water supply in Mae […]

Canada’s New Shale Oil Field Could Rival the Bakken

Canada’s energy industry may be most famous for its world-class oil sands resources. But a new shale oil field could surpass the oil sands as Canada’s largest untapped oil reserve. In fact, it could even rival the massive Bakken shale of North Dakota in terms of recoverable oil. This area lies north of British Columbia […]

Oil Reserves Estimate in the Middle East by Bahrain Oil and Gas Minister

Peak-Oil Theory: Oil Reserves Estimate in the Middle East by Bahrain Oil and Gas Minister

Peak Oil: A Graphic Story

Australian artist Stuart MacMillan has spent over 700 hours creating this amazing cartoon of the life and work of M.King Hubbert. Below are just 2 images of the 139 that make up the full story. View the cartoon in full View the cartoon in full   For more about the project, or to find out […]

Venezuela – The Unmentioned Oil Superpower

Venezuela has larger oil reserves than Saudi Arabia. The country only produces 20% of Saudi Arabia’s production level. Venezuela needs higher oil prices for success – this may result in increased production and therefore market supply. Introduction Venezuela is a significant player in the oil markets. The country has several hundred billion barrels worth of […]

The signs of global seismic unrest are showing everywhere

ANOTHER volcanic eruption. The signs of global seismic unrest are showing everywhere. Now (May 12th into 13th 2015) A sudden large blast caught nearby hikers on Nicaragua’s Telica volcano off guard. The eruption started as a relatively small blast (caught on camera nearby the caldera)… the smaller blast gave way to a longer lasting much […]

Bakken Formation Still Has 6 Billion Barrels of Oil

How much recoverable oil does the Bakken Formation have? The most recent estimate of proved reserves is just under 6 billion barrels for the entire Williston Basin, which includes the Bakken, and another 3.5 billion to 4.1 billion barrels of “undiscovered and technically recoverable” oil. Harold Hamm, founder and CEO of Continental Resources, once said he […]

Could ‘ice that burns’ be the next step in natural gas?

The next big thing in natural gas production may come from the enormous amount of gas trapped in ice found both in the ground and under the sea. The U.S. Geological Survey says it is sometimes referred to as the “ice that burns,” because when lit by a flame the icy chunks of “methane hydrates” […]

Cuba Insists It Has Oil; US Still Uninterested

Cuba unveiled new data on Wednesday it said confirmed there were billions of barrels of oil beneath its Gulf of Mexico waters but admitted there was little interest in new exploration even with the thaw in U.S. relations. The United States and Cuba have vowed to restore diplomatic relations after more than 50 years of […]

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