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Tag Archives: oil
Fossil Fuel Production Is Reaching Limits in a Strange Way
Fossil Fuel Production Is Reaching Limits in a Strange Way Strangely enough, the limit we seem to be reaching with respect to fossil fuel extraction comes from low prices. At low prices, the extraction of oil, coal, and natural gas becomes unprofitable. Producers go bankrupt, or they voluntarily cut back production in an attempt to force […]
Has oil peaked?
Has oil peaked? Last month, the world’s 4th largest oil company—BP—predicted that the world will never again consume as much petroleum as it did last year. So, have we finally hit peak oil? And if so, what does that mean for our economy and our world? There was fierce controversy in the first decade of this century […]
How much oil left in America? Not much
How much oil left in America? Not much Preface. If you think we have no worries because we can get arctic oil, think again. We can’t because icebergs mow drilling platforms down in the ocean. On land, massive amounts of expensive new drilling rigs, roads, rail lines, platforms, buildings and other infrastructure need to be built, […]
$65 Oil And $5000 Gold: Traders Expect Volatility In Key Commodities
$65 Oil And $5000 Gold: Traders Expect Volatility In Key Commodities The year of the pandemic put two commodities under the spotlight, but for different reasons. Gold prices hit an all-time high in August, while crude oil slipped into negative for a day in April, when demand crashed and inventories soared. Both oil and gold […]
The End of Oil is Near, or Maybe Not
The End of Oil is Near, or Maybe Not The cover of the September/October 2020 issue of Sierra magazine states “The End of Oil is Near”. The corresponding story “The End of Oil?” was paralleled with a recent segment on Democracy Now. I think that is wishful thinking. To the extent that oil demand goes down […]
Maddow’s “Blowout”, Russian peak oil, corruption, fake news
Maddow’s “Blowout”, Russian peak oil, corruption, fake news Preface. Since this blog focuses on peak resources, I drastically rearranged my notes from this book in the order I found most interesting. I’m also interested in corruption, Putin, fake news, and more, as you’ll see below. Since the book is 405 pages, I’ve obviously left out […]
Oil consumption of containerships
Oil consumption of containerships Preface. Since 90% of international goods move by ships, I was curious about how much fuel they burned. It’s a lot: The very large container ship CMA CGM Benjamin Franklin above, which can carry 18,000 20-foot containers, carries approximately 4.5 million gallons of fuel oil, which takes up 16,000 cubic meters […]
Is 2020 the End of a Energy Trend or the Beginning of a New Trend for Climate Change Advocates?
Is 2020 the End of a Energy Trend or the Beginning of a New Trend for Climate Change Advocates? QUESTION: Marty; I see that Socrates’ forecast for oil in 2020 was a major turning point. All the reversals worked great. But my question is, do you think with this 2020 turning point that this climate change […]
Oil Price War Puts Entire Kingdom Of Saudi Arabia At Risk
Oil Price War Puts Entire Kingdom Of Saudi Arabia At Risk At no time since Ibn Saud first consolidated his Arabian conquests into the Kingdom of Saudi Arabia in 1932 has the ruling Saud dynasty faced such an existential threat to its continued rule over the country. It is true that Saudi Arabia has been […]
Has Demand For Oil Already Peaked?
Has Demand For Oil Already Peaked? Oil prices continue to rise on the prospect of a rebound in fuel demand as economies begin to reopen. But there is a large difference between oil demand rising from recent lows and actually growing relative to pre-COVID-19 trends. In other words, demand destruction on the order of nearly 30 […]
How the first phase of peak oil brought Virgin Australia into minus after 2008
How the first phase of peak oil brought Virgin Australia into minus after 2008 Fig 1: The conventional crude oil plateau started in 2005 At the end of the high oil price period in June 2014, Virgin Australia had liabilities of $ 4.7 bn. Despite lower oil prices it never got rid of that debt. […]
US To Remove Patriot Missile Protection From Saudi Arabia Amid Oilpocalypse
US To Remove Patriot Missile Protection From Saudi Arabia Amid Oilpocalypse Petrodollar panic? As tensions between OPEC (cough – the Saudis – cough) and Washington rise over the supply (and price) of oil globally amid a pandemic-driven demand collapse, it would appears President Trump may have just gone ‘nuclear’. “…there will be blood.” The Wall Street Journal […]
Oil Suddenly Crashes After Jobs Report
Oil Suddenly Crashes After Jobs Report It would appear no one told the machines that ADP would report a devastatingly ugly jobs print this morning… Oil started sliding earlier but the ‘better than expected’ ADP print actually seemed to spark a panic puke for some reason ahead of this morning’s EIA inventory/production report.
Oil flows spell deep depression
Oil flows spell deep depression Energy is not just one commodity among many in the economy; it is the commodity. Without energy, nothing gets done. And, oil is not just one form of energy in the energy commodity complex; it is the energy source upon which our modern way of life depends. In fact, it is the main energy […]
Trump Could Use ‘Nuclear Option’ To Make Saudi Arabia Pay For Oil War
Trump Could Use ‘Nuclear Option’ To Make Saudi Arabia Pay For Oil War President Donald Trump is considering all options available to him to make the Saudis pay for the oil price war as the crash that followed has done significant damage to the U.S. oil industry With last month having seen the indignity of […]
