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Big Oil’s Dangerous Radioactive Secret
Big Oil’s Dangerous Radioactive Secret DeSmog writer Justin Nobel’s new book explores how workers bear the brunt of the oil and gas industry’s hidden contaminated waste. Left, Petroleum 238 cover. Credit: Sabrina Bedford, design; Julie Dermansky, photo. Right, author Justin Nobel. Credit: Karen LeBlanc. In Paris, France, there are fine cafés and famous landmarks. But […]
Oil Markets Were Unwise But Right in the Israel-Iran Crisis
Oil Markets Were Unwise But Right in the Israel-Iran Crisis The Middle East seemed to be on the brink of war last week and oil prices fell. Was the market wrong? Brent futures price closed at $90.45 per barrel on Friday, April 12 before Iran’s missile and drone attack on Israel (Figure 1). When markets […]
Oil prices aren’t the Fed’s biggest problem right now — American demand is, says an economist
Oil prices aren’t the Fed’s biggest problem right now — American demand is, says an economist Inflation could see a resurgence in 2025, BlackRock strategists warned. Jonathan Kitchen/Getty Images “I think what’s difficult for the Fed currently is actually the part of CPI that is being driven by demand, rather than the supply issues or the […]
Almost Everything is About Oil in the Middle East
Almost Everything is About Oil in the Middle East Perhaps the most extraordinary part of Iran’s April 13 attack on Israel was that it was countered by a coalition that included Jordan, Saudi Arabia and the United Arab Emirates (UAE). It is also noteworthy that this was the first time that the United States engaged militarily in […]
Crude, Food Prices Jump As Looming Israel-Iran Conflict Spark 1970s Oil Shock Fears
Crude, Food Prices Jump As Looming Israel-Iran Conflict Spark 1970s Oil Shock Fears Larry MacDonald of The Bear Traps Report penned a very informative note last month that outlined, “2023-2024 look a lot like 1973-1974.” He said, “We’re one event away from a 1970s-style stagflation explosion…” History books remind us that the 1973 oil embargo shook the global […]
Israel Warns Iran Of Massive Regional War If Directly Attacked
Israel Warns Iran Of Massive Regional War If Directly Attacked Update(1831ET): With Israel’s embassies around the world on a heightened state of alert, and extra IDF reservists called up, and home and weekend leave for all combat troops having been abruptly canceled Thursday, the Israeli population is anxiously awaiting a response – with some reports saying residents […]
No water, no oil: How the parched western provinces could hamper the oilpatch
No water, no oil: How the parched western provinces could hamper the oilpatch Water shortages could have devastating effect on oil and gas sector, says new report Pumpjacks pull oil from the ground near Three Hills, Alta. Limited water supply could have significant effects on the production of oil and gas, warns a new report. […]
Oil Surges Over $90, Stocks Tumble After Israel Puts Embassies Around World On Maximum Alert
Oil Surges Over $90, Stocks Tumble After Israel Puts Embassies Around World On Maximum Alert At this point Israel’s ties with key Gulf countries like the UAE are near breaking point, after only a few short years ago diplomatic normalization was hailed through Trump’s Abraham accords. But international and Israeli press reports are confirming the […]
Bye-bye Carbon
Bye-bye Carbon Photo by K B on Unsplash Ours is a carbon based economy. On the other hand, carbon emissions are wrecking the climate; for proof just take a look at this short tour de force from Paul Beckwith. In related news UK emissions in 2023 fell to lowest level since 1879. But why is that so? Are we on a […]
EIA Confirms U.S. Producing More Oil Than Any Country in History
EIA Confirms U.S. Producing More Oil Than Any Country in History In mid-December, I wrote here that the U.S. had set a new annual oil production record: “The U.S. set a new annual oil production record on December 15, based on data from the Energy Information Administration. Although the official monthly numbers from the EIA won’t be […]
Israel, Gaza, and the Struggle for Oil
Israel, Gaza, and the Struggle for Oil Aerial View of Haifa oil refineries. Photo: Meronim, CC BY-SA 4.0 Deed. It was the sign that got to me. I was standing with protesters outside the Burlington (VT) City Hall at a rally organized by Jewish Voice for Peace. To my left I spotted a man, grim-faced and […]
The Great Simplification Ahead
The Great Simplification Ahead “Until debt tear us apart” Photo by Alice Pasqual on Unsplash There is no denying that a major economic downturn is now in the books, and that lacking an energy miracle, the world economy is about to go through a major shift. After discussing the faulty nature of prevailing economic metrics (GDP) in last […]
The Harsh Truth: We’re Using More Oil Than Ever
The Harsh Truth: We’re Using More Oil Than Ever In this age of climate crisis, the world is consuming more crude than ever. Peak oil demand? Not yet. Maybe one day, perhaps even soon, around 2030. For now, however, the global economy still runs on oil. It will take a while before governments certify it, […]
OPEC+ Considering Additional 1 Million Barrel Oil Production Cut Amid Outrage Over Gaza War
OPEC+ Considering Additional 1 Million Barrel Oil Production Cut Amid Outrage Over Gaza War Two days ago, JPMorgan’s head of energy strategy Christyan Malek warned that amid the recent plunge in oil prices, driven as much by shorting CTAs (who today are in full-blown short squeeze panic mode) as the BIden admin, the oil market was underestimating the chances […]
The Sword of Damocles
The Sword of Damocles An economic worst-case scenario for the Israeli-Palestine war (Free) On Tuesday, I published a post on X (Twitter), which summarized an economic worst-case scenario for the Israeli-Palestine war. It included 10 points: The conflict escalates into a regional war with the U.S. becoming directly involved. OPEC responds with an oil embargo. Iran closes […]
