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By wis.dom project: Regress in Progress: Who is responsible?
By wis.dom project: Regress in Progress: Who is responsible? Dire Evolutionary Timeline by Blu This is an essay from reader wis.dom project who describes his painful personal journey of connecting dots to achieve awareness of our overshoot predicament. I was born in 1969, at a time when everything still seemed possible. On July 20, two people walked on the […]
Is Saudi Oil Production At Capacity?
Is Saudi Oil Production At Capacity? Use it or lose it – this principle might apply to Saudi Arabia’s oil production capacity that is now eyed by the Western world to fill the Russia-sized gap in supply left behind by embargoes. However, as Statista’s Katharina Buchholz details below, Saudi Arabia in the past three years only approached its declared […]
Is Saudi Arabia Exaggerating Its Oil Production Potential?
Is Saudi Arabia Exaggerating Its Oil Production Potential? For years, Saudi Arabia has made some pretty hefty claims about its oil potential. It is becoming increasingly clear, however, that the Kingdom may be stretching the truth a little too far. Analysts are now beginning to doubt that Saudi Arabia even has the reserves it says […]
Oil turbulence could last five years, ExxonMobil boss warns
Oil turbulence could last five years, ExxonMobil boss warns Consumers must be prepared to endure up to five years of turbulent oil markets, the head of ExxonMobil said Tuesday, citing under-investment and the coronavirus pandemic. Energy markets have been roiled by the Ukraine war as Russia has reduced some exports and faced sanctions while Europe […]
Running on Empty, Part II
Running on Empty, Part II How the Petrodollar Poisoned Foreign Policy with Financial Profiteering Welcome to Part II of Running on Empty, my three-part analysis of the Petrodollar system. Part I of this series explained what the petrodollar system is, how it came to be, and what its financial effects have been on the United States. In Part […]
An Economic ‘Atomic Bomb’: Hungary Threatens EU’s Latest Sanctions Against Russia, Including Oil Embargo
An Economic ‘Atomic Bomb’: Hungary Threatens EU’s Latest Sanctions Against Russia, Including Oil Embargo The European Union’s ban on Russian oil is in jeopardy Friday after Hungary’s Prime Minister Viktor Orban rejected proposals as too costly and too swift for the country to implement, marking a potentially lethal blow to the bloc’s plans to wean […]
Russia’s Oil Output Is Plummeting, And It May Never Recover
Russia’s Oil Output Is Plummeting, And It May Never Recover Russia’s oil output is plummeting, and the decline is expected to worsen in May. OPEC recently warned that markets could see the loss of more than 7 million barrels per day of Russian oil and other liquids exports. With many global producers constrained in their […]
The world has a major crude oil problem; expect conflict ahead
The world has a major crude oil problem; expect conflict ahead Media outlets tend to make it sound as if all our economic problems are temporary problems, related to Russia’s invasion of Ukraine. In fact, world crude oil production has been falling behind needed levels since 2019. This problem, by itself, encourages the world economy […]
What Is Oil and Why Is It So Special?
What Is Oil and Why Is It So Special? I have written in here several times that no other form of energy can match fossil hydrocarbons in their energy density except for uranium, but uranium requires a nuclear reactor to be utilized; something that cannot be carried by hand (like a container of gasoline can). […]
Russian Ruble relaunched linked to Gold and Commodities – RT.com Q and A
Russian Ruble relaunched linked to Gold and Commodities – RT.com Q and A With Russia’s central bank having just profoundly altered the international trade and monetary system by linking the Russian ruble to both gold and commodities, the journalists at RT.com in Moscow asked me to write a Q and A article on what these developments mean, […]
Germany Scrambles To Ration Gas After Refusing To Make Payments In Rubles
Germany Scrambles To Ration Gas After Refusing To Make Payments In Rubles Now that Moscow has doubled down on its demands that its European “partners” pay for its oil and gas in rubles instead of euros (which, as the bloc already demonstrated, can be easily confiscated in the name of “sanctions”), the German government is digging […]
Demand Destruction Has Begun
Demand Destruction Has Begun One month ago, Brent jumped above $100/bbl for the first time in eight years as Russia executed a full-scale invasion of Ukraine, and it became clear that western governments would impose sanctions. The oil market has been in triple digits for practically the entire time since. And, after a month of […]
Food shortages as the energy crisis grows and supply chains break?
Food shortages as the energy crisis grows and supply chains break? Preface. This is a long preface followed by two articles about how supply chains and complex tractors may be affected by energy shortages and consequent supply chain failures in the future.Which we’re already seeing as massive numbers of ships sit offshore waiting to be […]
Why liquefied coal (CTL) and natural gas (GTL) can’t replace oil
Why liquefied coal (CTL) and natural gas (GTL) can’t replace oil Preface. Here are just a few of the reasons why we aren’t likely to convert enough coal to diesel to matter as oil decines (see Chapter 11 Liquefied Coal: There Goes the Neighborhood, the Water, and the Air for more details on this in When Trucks […]
Russia-Ukraine War and the Changing Energy Landscape.
Russia-Ukraine War and the Changing Energy Landscape. The can of worms that is our global use of energy, has been levered open yet further by the escalating war in Ukraine. Prices of all types of energy had already been hiked dramatically as a result of a strong economic rebound post-covid, but with limited capacity to […]
