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Does Renewable Energy Have a Higher EROI Than Fossil Fuels?
DOES RENEWABLE ENERGY HAVE A HIGHER EROI THAN FOSSIL FUELS? There is new momentum behind the idea that renewable energy has a higher energy return on investment (EROI) than fossil fuels. That contrasts with decades of consensus that the EROI of oil, for example, ranges from 18 to 35 while the range for solar is from 6 […]
Fusion Breakthrough is a Nuclear Nothing Burger
FUSION BREAKTHROUGH IS A NUCLEAR NOTHING BURGER The U.S. Lawrence Livermore National Laboratory kicked off its year-end Go-Fund-Me drive last week announcing a nuclear fusion breakthrough. “The fusion energy breakthrough by US scientists boosts clean power hopes. Net energy gain indicates technology could provide an abundant zero-carbon alternative to fossil fuels.” –Financial Times, December 11, 2022 […]
Energy Aware #4: The Devil Is In the Diesel
ENERGY AWARE #4: THE DEVIL IS IN THE DIESEL Global diesel is in short supply. Analysts are concerned about diesel because it is the hemoglobin of the global economy. The world’s mines, oil rigs, construction, ships, trains and trucks run on diesel. Typically, inventories should be 30% higher this time of the year. Such low […]
Arthur Berman: The Devil is in the Diesel
Arthur Berman: The Devil is in the Diesel
Energy Aware
Energy Aware The United States is energy independent. Banning oil exports would lower oil prices. Strategic Petroleum Reserve releases lowered gasoline prices. There is a shortage of refinery capacity in the U.S. The cancelation of the Keystone XL Pipeline has limited U.S. oil supply and contributed to higher energy prices. These popular memes are wrong. […]
Energy Shock
ENERGY SHOCK The world is in energy shock. European imported coal prices increased 421% before Russia invaded Ukraine. German electric power price increased 518%. European natural gas jumped 765% and Asian spot LNG, 957%. Since then, it’s gotten even worse. U.K. natural gas futures price has increased +$99.86 (+574%) from $17.41 to $117.27 per mmBtu […]
Saudi Prince Delivers a Message About the Second Cold War
SAUDI PRINCE DELIVERS A MESSAGE ABOUT THE SECOND COLD WAR Saudi Prince Abdulaziz bin Salman (ABS) said this week that OPEC+ may need to cut oil production. This may be necessary, he said, to correct problems in the market because “the paper and physical markets have become increasingly more disconnected.” This is rhetorical theater. It has no real […]
Paradigm Shift: End of the Oil Age
PARADIGM SHIFT: END OF THE OIL AGE The world thinks it’s in an energy crisis today and indeed there are shortages in some places but the world is undergoing an energy crisis more fundamental than the simple shortage happening today in Europe. A shortage can be remedied. The larger problem is that oil use began […]
Nuclear Power Is No Solution For the World’s Energy Problems
NUCLEAR POWER IS NO SOLUTION FOR THE WORLD’S ENERGY PROBLEMS Nuclear power is no solution to the world’s energy problems. Not even close. It’s important for electric power but electric power is not even 40% of the world’s energy supply—nor is it expected to increase much over the next 30 years. IEA projects that nuclear […]
Here’s Why Energy Prices & Shortages Are Going Berserk | Art Berman
Here’s Why Energy Prices & Shortages Are Going Berserk | Art Berman Energy is suddenly headline news. Oil, which traded at negative prices for a brief moment last year due to the global economic slowdown caused by the pandemic, is now expected by a number of analysts to hit $100/barrel soon. Europe is worried about […]
Brace For Shock At The Pump: WTI Surges Above $75 As OPEC+ Raises Output Less Than Expected
Brace For Shock At The Pump: WTI Surges Above $75 As OPEC+ Raises Output Less Than Expected Brace for shock at the pump. WTI crude prices surged by over $2, rising more than 3% to $75.8/bbl… … the highest since 2018… … amid reports that ahead of the conclusion of today’s OPEC, JMMC and OPEC+ […]
The Hidden Joule | Why Oil & Gas is Critical to Understanding Sustainability
The Hidden Joule | Why Oil & Gas is Critical to Understanding Sustainability In this episode, we breakdown the difference between cost, price, and the value of oil and why this is so important. Additionally, we dive into the scaling effects of concentrated energy sources and how these differ from diffused, and the challenges of […]
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 […]
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 […]
Game Over For Oil, The Economy is Next
GAME OVER FOR OIL, THE ECONOMY IS NEXT It’s game-over for most of the U.S. oil industry. Prices have collapsed and storage is nearly full. The only option for many producers is to shut in their wells. That means no income. Most have considerable debt so bankruptcy is next. Peggy Noonan wrote in her column recently that […]
