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Tag Archives: oil production
World Economies in Trouble: Middle East Oil Exports Lower Than 40 Years Ago
WORLD ECONOMIES IN TROUBLE: Middle East Oil Exports Lower Than 40 Years Ago Yes, it’s true. Middle East net oil exports are less than they were 40 years ago. How could this be? Just yesterday, Zerohedge released a news story stating that OPEC oil production reached a new record high of 34.19 million barrels per day. […]
Peak Oil & System Justification: Avoidance
Peak Oil & System Justification: Avoidance The researchers found that being intolerant of ambiguity is associated with such conservative characteristics as unwavering certainty and strong loyalty to particular people and positions. Conservatives don’t feel the need to jump through complex, intellectual hoops in order to understand or justify some of their positions. They are more comfortable […]
Satellite Imagery Reveals China’s Strategic Petroleum Reserve Is Vastly Greater Than Disclosed
Satellite Imagery Reveals China’s Strategic Petroleum Reserve Is Vastly Greater Than Disclosed At the end of August, we did a follow up article on what we believe is a far bigger marginal driver to the price of oil than OPEC production (which may or may not be reduced by up to 750kbpd in November), namely the Strategic […]
THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Means Big Trouble For The U.S.
THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Means Big Trouble For The U.S. The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance. Just a few years ago, the U.S. Energy Industry and Mainstream media were gloating that the United States was on its way to “Energy […]
Oil Down As Glut Fears Return
Oil Down As Glut Fears Return Oil prices fell on Friday as the IEA downgraded its projections for oil demand, dashing hopes that oil markets would rebalance this year. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) …click on the above link to read the rest of the […]
China’s oil peak 45 years after the US peak
China’s oil peak 45 years after the US peak Fig 1: Oil crisis in China like in 2005? No. By order: Free roads for G20 in Hangzhou https://www.theguardian.com/world/2016/aug/31/china-hangzhou-propaganda-facelift-g20-summit Strategically published only days before the G20 summit the Wall Street Journal had an article on peak oil in China: China’s Decline in Oil Production Echoes Globally […]
Welcome to the Age of Crappy Oil
Welcome to the Age of Crappy Oil It’s been a while since we’ve heard about peak oil—the point at which we use up half the world’s reserves and see production terminally decline—but it’s happening. And yet, we still have enough oil left to burn our way to climate catastrophe. In a paper released at the end of July, […]
M. King Hubbert and the future of peak oil
M. King Hubbert and the future of peak oil Almost synonymous with the term “peak oil” is M. King Hubbert, perhaps the foremost geophysicist of the 20th century, who first theorized about the eventual decline of oil production in the 1930s. His life has now been chronicled by science writer Mason Inman in a new […]
Peak Oil in Asia and oil import trends (part 2)
Peak Oil in Asia and oil import trends (part 2) We pick up the question from part 1: Fig 11: Homework for governments Let’s have a look where all the net imports into Asia have come from in the past: Fig 12: Asia net imports – overview BP’s data on inter area oil movements start […]
Why We Can Expect Cripplingly Higher Oil Prices In The Near Future
Why We Can Expect Cripplingly Higher Oil Prices In The Near Future The break-even price for Permian basin tight oil plays is about $61 per barrel (Table 1). That puts Permian plays among the lowest cost significant supply sources in the world. Although that is good news for U.S. tight oil plays, there is a […]
