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Tag Archives: oil
The Invisible oiliness of everything
The Invisible oiliness of everything Preface. Even a simple object like a pencil requires dozens of actions to make and dozens of objects that took energy to make. This is why it is unlikely wind, solar, or any other contraption that make electricity, have a positive return of energy, or energy returned on energy invested. […]
Oil and the Changing World Order
OIL AND THE CHANGING WORLD ORDER U.S. oil inventories have fallen every week for two months yet WTI has averaged less than $40 per barrel since the end of August. That is because oil has been re-priced and markets are unwilling to pay more for it. Those who expect a return to 2019 price levels acknowledge […]
Forget Peak Oil Demand, Supply Crisis Could be Hitting First
Forget Peak Oil Demand, Supply Crisis Could be Hitting First In today’s IEA’s annual World Energy Outlook 2020 report, the OECD energy watchdog states that it doesn’t see a peak oil demand before 2040, only a possible oil demand flattening. The energy agency repeats that oil demand is effected by COVID, but all scenarios show that 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 […]
