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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 […]
Our Oil Predicament Explained: Heavy Oil and the Diesel Fuel it Provides Are Key
Our Oil Predicament Explained: Heavy Oil and the Diesel Fuel it Provides Are Key It has recently become clear to me that heavy oil, which is needed to produce diesel and jet fuel, plays a far more significant role in the world economy than most people understand. We need heavy oil that can be extracted, […]
The Fed Cannot Fix Today’s Energy Inflation Problem
The Fed Cannot Fix Today’s Energy Inflation Problem There is a reason for raising interest rates to try to fight inflation. This approach tends to squeeze out the most marginal players in the economy. Such businesses and governments tend to collapse, as interest rates rise, leaving less “demand” for oil and other energy products. The […]
Peak Oil Gets Admitted?
Peak Oil Gets Admitted? Denial is like a glacier. At first sight, and to everyone standing on it, it looks rock solid. Then cracks start to develop, and before you know it, a huge chunk breaks off and drifts away — never to be seen again. This is what’s happening to peak oil right in […]
Will Nuclear War, Debt Collapse or Energy Depletion Finish the World?
WILL NUCLEAR WAR, DEBT COLLAPSE OR ENERGY DEPLETION FINISH THE WORLD? Fragility has probably never been greater in history. Just three words encapsulate the destiny of the world. The THREE words are: WAR, DEBT, ENERGY A FOURTH word will financially save the ones who understand its significance. It will also play a major role in the […]
Oil To Face “Serious” Supply Problem In 2024 As Production Capacity Runs Out, Goldman Warns
Oil To Face “Serious” Supply Problem In 2024 As Production Capacity Runs Out, Goldman Warns Heading into 2023, Goldman was bearish on most asset classes, except commodities where the bank forecast a 43% gain as “supply shortages bite.” Since then the commodity picture has ebbed and flowed, and after commodities experienced a modest bounce following China’s unexpected […]
