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How much of the world’s energy is supplied by renewables?
How much of the world’s energy is supplied by renewables? BP and the International Energy Agency (IEA) measure the contribution of renewables to the global energy mix in terms of primary energy consumed while the World Bank estimates it in terms of final energy consumed. All three give different results, with BP estimating a total […]
IEA: Oil Prices Could Rise Further As Shale Can’t Fill The Gap
IEA: Oil Prices Could Rise Further As Shale Can’t Fill The Gap U.S. shale will continue its breakneck growth rate into 2019, despite bottlenecks, but the oil market still faces serious supply risks from the potential losses from Venezuela and Iran, the International Energy Agency (IEA) said in a new report. The IEA said that […]
IEA Cuts 2018 Oil Demand Forecast On Soaring Oil Prices
IEA Cuts 2018 Oil Demand Forecast On Soaring Oil Prices Yesterday, we observed that in logical consequence to sharply higher interest rates, US consumer loan demand had slumped in recent weeks, despite increasingly easy credit conditions: an outcome which for many economists is a harbinger to an upcoming recession, as households hunker down and begin […]
IEA: U.S.-China Trade Row Could Dampen Oil Demand Growth
IEA: U.S.-China Trade Row Could Dampen Oil Demand Growth OPEC is very close to achieving its mission to draw oil inventories down to their five-year average, but the ongoing U.S.-China trade spat is a risk to oil demand growth expectations this year, the International Energy Agency (IEA) said in its Oil Market Report on Friday. […]
Are We Sleepwalking Into The Next Oil Crisis?
Are We Sleepwalking Into The Next Oil Crisis? One school of thought is that future oil demand is set to decline because consumers will have better options. Many in this “peak demand” camp believe that the growth of electric vehicles will soon make oil obsolete. That’s a relatively painless view of the future and is […]
Canada’s Pipeline Challenges Will Force More Tar Sands Oil to Move by Rail
Canada’s Pipeline Challenges Will Force More Tar Sands Oil to Move by Rail The Motley Fool has been advising investors on “How to Profit From the Re-Emergence of Canada’s Crude-by-Rail Strategy.” But what makes transporting Canadian crude oil by rail attractive to investors? According to the Motley Fool, the reason is “… right now, there is so much excess oil being […]
The Single Largest Supply Risk In Oil Markets
The Single Largest Supply Risk In Oil Markets Venezuela could be the reason that “tips the market decisively into deficit,” the International Energy Agency said in a new report. Venezuela lost another 60,000 barrels per day (bpd) in February, according to the Paris-based energy agency, and continues to present the largest supply risk to the […]
Is The Sky The Limit For U.S. Shale?
Is The Sky The Limit For U.S. Shale? The IEA’s forecast that U.S. shale will dominate the oil market over the next three years because of skyrocketing shale production made global headlines on Monday, but the conclusions should not be taken as gospel. The industry could run into a series of headwinds that could slow […]
Shale Pioneer Issues Warning To US Drillers
Shale Pioneer Issues Warning To US Drillers U.S. shale has effectively upended the oil industry, with predictions that total U.S. oil production will surpass Saudi Arabia’s output this year, in turn rivalling Russia’s to become the preeminent global producer. From its position of being dependent on, and subordinate to OPEC, the U.S. has seemingly become […]
EIA’s Shocking U.S. Oil Production Predictions
EIA’s Shocking U.S. Oil Production Predictions Between 2010 and 2015, annual oil production in the U.S. grew by four million barrels per day (BPD). Production dipped in 2016, but then U.S. crude oil production again rose by 1.2 million BPD between January and December 2017, to levels that haven’t been seen since the early 1970s. […]
Geopolitical Risk Is On The Rise In Oil Markets
Geopolitical Risk Is On The Rise In Oil Markets In the long-term, many oil analysts expect the world to become increasingly dependent on oil production from the Middle East, as U.S. shale fades in importance. However, geopolitical turmoil is already causing disruptions in major oil-producing countries in the Middle East, raising questions about the region’s […]
Will Australia have a strategic oil reserve before it is too late? (part 2)
Will Australia have a strategic oil reserve before it is too late? (part 2) In part 1 we talked about what action the government is taking to bring Australia back to the IEA 90 days oil stock requirement. What was done so far This website contains the relevant reports: IEA International Energy Program Treaty https://www.energy.gov.au/iea-international-energy-program-treaty […]
Will Australia have a strategic oil reserve before it is too late? (part 2)
Will Australia have a strategic oil reserve before it is too late? (part 2) In part 1 we talked about what action the government is taking to bring Australia back to the IEA 90 days oil stock requirement. What was done so far This website contains the relevant reports: IEA International Energy Program Treaty https://www.energy.gov.au/iea-international-energy-program-treaty […]
Inconvenient energy fact of the day
Inconvenient energy fact of the day In 2016, solar and wind provided just 0.8% of the total world’s energy (Total Primary Energy Demand (TPED)), even after trillions of dollars in taxpayer-extracted subsidies, and will reach only a 3.6% share of energy in 2040, according to the International Energy Agency World Energy Outlook 2017 forecast (see […]
Is History Repeating Itself In Oil Markets?
Is History Repeating Itself In Oil Markets? Back in 2014, U.S. shale production was growing so fast that it ended up crashing the market. Now, history could be repeating itself. That was the warning from the International Energy Agency, which said in its latest Oil Market Report that a “second wave” of shale supply threatens […]
