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“No Deal In Sight” – Oil Plunges After Russia Rejects Additional OPEC+ Cut
“No Deal In Sight” – Oil Plunges After Russia Rejects Additional OPEC+ Cut Brent crude futures tumbled by more than 4% on Friday after Reuters reported that Russia had rejected steep production cuts by OPEC to prop up oil prices amid the Covid-19 outbreak triggering demand shocks in China and across the world. A high-level Russian source told Reuters […]
OPEC Agrees To 1.5MM Barrel Output Cut, But Fails To Obtain Critical Russian Backing
OPEC Agrees To 1.5MM Barrel Output Cut, But Fails To Obtain Critical Russian Backing Today’s OPEC meeting has been more of a stunt by members to persuade Russia to agree to deep cuts amid a demand shock triggered by the Covid-19. Ministers from OPEC agreed on a large cut of 1.5 million barrels per day in […]
Hydrogen fuel cell cars are a waste of time and money, and explosive
Hydrogen fuel cell cars are a waste of time and money, and explosive Preface. Below are several articles about hydrogen. Today in 2019 it is still far from commercial. A massive amount of infrastructure needs to be in place before people will consider buying hydrogen fuel cell cars, and because of explosions in South Korea, […]
Saudis Urge More Than 1 Million Bpd Oil Cut To Prop Up Prices, Russia Opposes
Saudis Urge More Than 1 Million Bpd Oil Cut To Prop Up Prices, Russia Opposes Update (0800ET): The Wall Street Journal reports that Russia opposes the Saudi plan to deepen OPEC+ cuts by 1.2mm b/d. Developing… * * * As we detailed earlier, Brent crude futures were up 75 cents, or 1.45%, at 52.61 a […]
Peak Permian Oil Production May Arrive Much Sooner Than Expected
Peak Permian Oil Production May Arrive Much Sooner Than Expected In mid-January, Adam Waterous, who operates the private equity firm Waterous Energy Fund, made a prediction about the crown jewel of the U.S. shale oil industry, the Permian shale play that straddles Texas and New Mexico. “We think we are at or near peak Permian,” Waterous told Bloomberg. “The […]
To Many’s Dismay, Permian Produces More Gas and Condensate Instead of Oil and Profits
To Many’s Dismay, Permian Produces More Gas and Condensate Instead of Oil and Profits As oil prices plummet, oil bankruptcies mount, and investors shun the shale industry, America’s top oil field — the Permian shale that straddles Texas and New Mexico — faces many new challenges that make profits appear more elusive than ever for the financially failing shale oil industry. […]
Many signs of peak oil and decline
Many signs of peak oil and decline Preface. Recently the IEA 2018 World Energy Outlook predicted an oil crunch could happen as soon as 2023. Oil supermajors are expected to have 10 years of reserve life or more, Shell is down to just 8 years. Political shortages are as big a problem as geological depletion. At […]
New Study Finds Far Greater Methane Threat from Fossil Fuel Industry
New Study Finds Far Greater Methane Threat from Fossil Fuel Industry The gas plays a powerful role in driving up global temperatures. A new study published in Nature may have ended a long scientific debate about the key source of rising methane levels in the atmosphere. It found that methane emissions from human activities — mainly fossil fuels […]
What the Teck Mine Will Destroy
What the Teck Mine Will Destroy Old growth, wetlands, wildlife. All the review panel added up and wrote off. Any day now, the Trudeau government is expected to render its verdict on the $20-billion Teck Resources Frontier mine proposed to push Alberta’s industrialized oilsands landscape farther north. There’s been a lot of published debate about whether the […]
The World Is Awash in Oil, False Assurances, Magical Thinking and Complacency as Global Demand Careens Toward a Cliff
The World Is Awash in Oil, False Assurances, Magical Thinking and Complacency as Global Demand Careens Toward a Cliff This collapse of price will manifest in all sorts of markets that are based on debt-funded purchases of desires rather than a warily prudent priority on needs. Since markets are supposed to discover the price of excesses and scarcities, […]
Trump Sanctions Rosneft, Russia’s Largest Oil Company, For Helping Maduro In Venezuela
Trump Sanctions Rosneft, Russia’s Largest Oil Company, For Helping Maduro In Venezuela The Trump administration announced significant new sanctions on Tuesday targeting Rosneft, Russia’s largest oil company, for helping Venezuelan leader Nicolas Maduro circumvent U.S. sanctions. Specifically, the sanction targets Rosneft Trading SA, a unit of Russia’s state-owned oil giant Rosneft, as well as company’s […]
RED WARNING LIGHT: The World Is Rapidly Burning Through Its Conventional Oil Reserves
RED WARNING LIGHT: The World Is Rapidly Burning Through Its Conventional Oil Reserves While Americans continue to enjoy the convenience provided by the just-in-time inventory supply-chain Leech and Spend Suburban Economy, the rate we are consuming the high-quality conventional oil reserves should scare the hell out of people. But, it doesn’t. Why? Because, virtually no […]
Tomgram: Michael Klare, War in the Arctic?
Tomgram: Michael Klare, War in the Arctic? When I first met Michael Klare in the late Neolithic age (it was actually the early 1970s), he was already researching the U.S. military in a way no one else was doing. His first book on the subject, War Without End: American Planning for the Next Vietnams, had just been […]
