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Today’s Contemplation: Collapse Cometh XV
Today’s Contemplation: Collapse Cometh XV Rome, Italy (1984) Photo by author Energy. It’s at the core of everything we do. Everything. Yet we take it for granted and rarely think about it and what the finiteness of our various energy sources means for us. As Gail Tverberg of Our Finite World concludes in a recent thought-provoking article that should […]
The IEA’s Latest Proposal Is Both Reckless And Impossible
The IEA’s Latest Proposal Is Both Reckless And Impossible The International Energy Agency, which has stepped up its efforts to become a major green energy supporter, appears to have forgotten the reason it was set up as an agency in the first place. In its new report “Net Zero in 2050”, the energy agency calls […]
Clean energy minerals shortage: Who knew it could happen?
Clean energy minerals shortage: Who knew it could happen? The race for so-called green energy has spawned another race, one for the minerals needed to make the devices such as solar panels and batteries that produce, store and transmit that energy. A hitherto largely unchallenged economic idea—that we will always have supplies of everything we […]
Climate Wars: IEA Warns Governments To Stockpile Battery Metals
Climate Wars: IEA Warns Governments To Stockpile Battery Metals China’s dominance in green energy technologies are rare earth metal production is very concerning to the International Energy Agency (IEA), who posted a stark warning Wednesday advising western governments to stockpile critical battery metals such as cobalt and lithium. IEA’s warning comes as the next chapter in US-China […]
Solar now ‘cheapest electricity in history’: How much will it matter?
Solar now ‘cheapest electricity in history’: How much will it matter? The International Energy Agency (IEA), the Paris-based consortium of 30 countries, has told us in its flagship World Energy Outlook 2020 that solar-produced electricity is now the “cheapest electricity in history.” That seems like very good news, that is, until the actual expected impact of that […]
IHS Markit: Oil Demand Won’t Fully Recover Until 2022
IHS Markit: Oil Demand Won’t Fully Recover Until 2022 Global oil demand will likely take another year or so to return to pre-pandemic levels—by late 2021 or early 2022, energy expert and IHS Markit vice chairman Daniel Yergin told Al Arabiya English in a video interview on Monday. Yergin’s expectations for oil demand are roughly […]
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 […]
CHART OF THE WEEK: The Surprising Drop In U.S. Crude Oil Production
CHART OF THE WEEK: The Surprising Drop In U.S. Crude Oil Production U.S. crude oil production experienced a surprising drop last week, even though domestic demand for oil and petroleum products increased. This came as a surprise to some energy analysts. Furthermore, the IEA, International Energy Agency came out with a forecast for global oil demand […]
Natural Gas Price Plunge Could Soon Lead To Shut-Ins
Natural Gas Price Plunge Could Soon Lead To Shut-Ins Natural gas prices plunged to new lows this week, falling below $1.50/MMBtu, a catastrophically low price for U.S. gas drillers. The factors afflicting the gas market are multiple. Prices had already fallen below $2/MMBtu at the start of 2020, weighed down by oversupply. But it wasn’t a […]
WTI Extends Losses Below $20 After Record Surge In Crude Inventories
WTI Extends Losses Below $20 After Record Surge In Crude Inventories WTI crashed below $20 (tagging $19.20) overnight after API reported huge inventory builds and was not helped by comments from the International Energy Agency that a historic production cut deal won’t be enough to counter a record demand slump this year. This appears to confirm a key […]
Many signs of peak oil and decline
Many signs of peak oil and decline Preface. Recently the IEA 2018 World Energy Outlook predicted an oil crunch could happen as soon as 2023. Oil supermajors are expected to have 10 years of reserve life or more, Shell is down to just 8 years. Political shortages are as big a problem as geological depletion. At […]
The “Twin Threats” Facing Big Oil
The “Twin Threats” Facing Big Oil The global oil and gas industry is facing the “twin threats” of the loss of profitability and the loss of social acceptability as the climate crisis continues to worsen. The industry is not adequately responding to either of those threats, according to a new report from the International Energy […]
IEA: An Oil Glut Is Inevitable In 2020
IEA: An Oil Glut Is Inevitable In 2020 Despite the OPEC+ cuts, the oil market is still facing a supply surplus in 2020, according to a new report from the International Energy Agency (IEA). OPEC+ announced additional cuts of 500,000 bpd, which sounds more impressive than it is because the group was already producing under […]
The Country Using The Most Electricity May Surprise You
The Country Using The Most Electricity May Surprise You In 2017, global electricity consumption increased 2.5 percent to reach 25,721 Twh. When it comes to consumption, China uses the most of any country at 25.9 percent, followed by the United States with 17.5 percent; but, as Statista’s Niall McCarthy notes, on a per capita basis, the situation is different. According […]
Many signs of peak oil and decline
Many signs of peak oil and decline Preface. Recently the IEA 2018 World Energy Outlook predicted an oil crunch could happen as soon as 2023. Oil supermajors are expected to have 10 years of reserve life or more, Shell is down to just 8 years. Political shortages are as big a problem as geological depletion. At […]
