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IEA Forecasts Fastest Oil Demand Growth In Two Years
IEA Forecasts Fastest Oil Demand Growth In Two Years The International Energy Agency, which advises most major economies on energy policy, forecast that global oil demand will climb this year by the most in two years amid stronger-than-expected consumption in Europe and the U.S. although it was unclear just how this will offset recently fading […]
Refiners Boost Output, But Irma Could Dent Demand
Refiners Boost Output, But Irma Could Dent Demand Texas continues to recover from Hurricane Harvey, and many of the disrupted refineries are ramping up production once again. But the ripple effects from the outages are still being felt, and some Midwestern refineries are benefitting from surging margins stemming from the havoc. Bakken Midwest refining margins […]
The Long-term Cycle of Monetary Crisis
The Long-term Cycle of Monetary Crisis QUESTION: Mr. Armstrong, I have been following you for all my adult life and that has exceeded 20 years by now and am shocked to say, I found your article on how things evolve GOLD-Oil-Dollar. I must say this is a eye-opening evolution you are talking about. Has this […]
Norway’s Big Fish Story
Norway’s Big Fish Story Decision Season With Parliamentary elections looming, more Norwegians than usual are asking themselves the tough questions. It is now apparent that the slump in oil is not a temporary one. What will the country do now? Time for the lottery winner, after receiving the last annuity, to get a job before […]
China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold
China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian […]
Gasoline Spikes To 7-Month Highs After Harvey; Heating Oil, Crude Jump
Gasoline Spikes To 7-Month Highs After Harvey; Heating Oil, Crude Jump The entire energy futures complex is notably higher at the open with RBOB Gasoline spiking over 4% to its highest since January amid the carnage of Hurricane Harvey. Bloomberg reports that as a result of Harvey, which was the strongest storm to hit the […]
What’s Next For Oil: Interview With Former DOE Chief Of Staff
What’s Next For Oil: Interview With Former DOE Chief Of Staff In this week’s MacroVoices podcast, Erik Townsend and Joe McMonigle, former chief of staff at the US Department of Energy, discuss the state of the global energy market, and OPEC’s rapidly diminishing ability to control oil prices. McMonigle believes investors will be hearing more jawboning from […]
Australia’s oil stock coverage on record low
Australia’s oil stock coverage on record low In prime time evening news of the Australian public broadcaster ABC TV, on 21 June 2017, the business presenter Alan Kohler tried to explain a fall in oil prices by “record oil inventories around the world” http://www.abc.net.au/news/business/kohler-report/ Well, let’s go around the world on a map and stay […]
The Looming Energy Shock
Carlos E. Santa Maria/Shutterstock The Looming Energy Shock The next oil crisis will arrive in 3 years or less There will be an extremely painful oil supply shortfall sometime between 2018 and 2020. It will be highly disruptive to our over-leveraged global financial system, given how saddled it is with record debts and unfunded IOUs. […]
Forget Draghi, Crude Matters
Forget Draghi, Crude Matters Despite Mario Draghi’s supposedly misinterpreted comments earlier this week, there are global indications that the best of this round has already been reached. Policymakers are always going to claim things are improving, that much is given. But there is tremendous difference between that and what has occurred, especially if it is […]
The Dynamics of Depletion
The Dynamics of Depletion Paul Klee Ghost of a Genius 1922The Automatic Earth has written many articles on the topic of EROEI (Energy Return on Energy Invested) through the years, there’s a whole chapter on it in the Automatic Earth Primer Guide 2017 that Nicole assembled recently, which contains 17 different articles. Still, since EROEI […]
Joseph Tainter: The Collapse Of Complex Societies
Joseph Tainter: The Collapse Of Complex Societies What history predicts about our future prospects By popular demand, we welcome Joseph Tainter, USU professor and author of The Collapse Of Complex Societies (free book download here). Dr. Tainter sees many of the same unsustainable risks the PeakProsperity.com audience focuses on — an overleveraged economy, declining net energy per […]
Why We Should Be Concerned About Low Oil Prices
Why We Should Be Concerned About Low Oil Prices Most people assume that oil prices, and for that matter other energy prices, will rise as we reach limits. This isn’t really the way the system works; oil prices can be expected to fall too low, as we reach limits. Thus, we should not be surprised if […]
Give Us Another Oil Boom
GIVE US ANOTHER OIL BOOM Dear Lord, Y’all give us another oil boom… If there is one sector of the US economy where an Austrian-style Boom-and-Bust bust has taken place, it is the onshore oil industry – though, by extension, other primary resource industries, such as metals and mining and farming have also suffered in […]
Norway Doubles Down On Arctic Oil
Norway Doubles Down On Arctic Oil While Canada and the U.S. ban Arctic drilling for oil and gas motivated by environmental concerns, and majors such as Shell pull out of their Arctic projects due to financial pressures, Norwegian energy companies are planning to increase drilling in the country’s Arctic shelf in the Barents Sea. It […]
