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Tag Archives: oil consumption
We are at Peak Oil now; we need very low-cost energy to fix it
We are at Peak Oil now; we need very low-cost energy to fix it This past week, I gave a presentation to a group interested in a particular type of renewable energy–solar energy that is deployed in space, so it would provide electricity 24 hours per day. Their question was: how low does the production cost […]
Egypt update: net oil importer and chokepoints
Egypt update: net oil importer and chokepoints Oil production and consumption Fig 1: Oil production vs consumption After a post-peak decline production has stabilized but consumption has increased relentlessly at a long-term 1.7% pa, slightly below population growth of around 2% pa. Egypt is now a net oil importer. On these trends, the gap between […]
Petrodollar Reflux to Hit Treasuries, Other Assets
Petrodollar Reflux to Hit Treasuries, Other Assets Oil-producing countries dump assets to fill budget holes. Executive Report with ISA Intel, Oil & Energy Insider: The collapse in oil prices is draining oil-exporting countries of revenue. With substantially lower oil revenues, many of the world’s sovereign wealth funds are dropping in value, which has ramifications for the […]
Saudi, US Oil Inventories Hit Record High as Demand Fizzles
Saudi, US Oil Inventories Hit Record High as Demand Fizzles The amount of oil in storage globally, not including the various “strategic petroleum reserves” in the US, China, Europe, Japan, and other locations, has grown to staggering proportions this year, as oversupply drowns out tepid demand. In the US, oil storage is seasonal. A big […]
Oil and the Global Economy
Oil and the Global Economy How important is oil to the future of the global economy? The remarkable economic expansion of in the United States and other industrial nations over the past century or more has been fueled by a steadily growing supply of low-cost energy—mostly from fossil fuels—oil in particular which accounts for more global energy […]
What Greece, Cyprus, and Puerto Rico Have in Common
What Greece, Cyprus, and Puerto Rico Have in Common We all know one thing that Greece, Cyprus, and Puerto Rico have in common–severe financial problems. There is something else that they have in common–a high proportion of their energy use is from oil. Figure 1 shows the ratio of oil use to energy use for selected […]
Asia’s oil consumption at record high while production peaked in 2010
Asia’s oil consumption at record high while production peaked in 2010 The annual BP Statistical Review has come out, as usual in June. In this post we focus on the Asia Pacific region. This is important because the Australian government has offered the help of “Team Australia” to build the “Asian Century”. The question no one […]
Changes to Total Global Credit Affects The Oil Price
Changes to Total Global Credit Affects The Oil Price In some posts on Fractional Flow I have presented some of my explorations of any relations between the oil price, changes to global total credit/debt and interest rates. My objective has been to gain and share some of my insights of how I see the economic undertows […]
Who Benefits Most From Cheap Oil?
Who Benefits Most From Cheap Oil? We are living in a world obsessed with oil and its price movements. Some time back, when all the trade pundits were predicting a stable 100$ benchmark, the prices fell… and how! The current fall in the oil price has been particularly harsh and excruciating for some of the […]
How Much Crude Oil Do You Consume On A Daily Basis?
How Much Crude Oil Do You Consume On A Daily Basis? Oil. The commodity. We know what it’s worth – at least we thought we did – but what does a barrel of the black stuff get you in real life? Before we get theoretical, let’s first consider how much oil you use. If you’re in the […]
US oil consumption did not increase as result of US tight oil boom
US oil consumption did not increase as result of US tight oil boom. In part 1 of a series of articles on the impact of US tight (shale) oil we examine the impact on US oil consumption. Fig 1: US crude oil production with tight oil from Texas and North Dakota Data from: http://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_a.htm In […]
