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IEA Forecasts Fastest Oil Demand Growth In Two Years
IEA Forecasts Fastest Oil Demand Growth In Two Years The International Energy Agency, which advises most major economies on energy policy, forecast that global oil demand will climb this year by the most in two years amid stronger-than-expected consumption in Europe and the U.S. although it was unclear just how this will offset recently fading […]
What’s Next For Oil: Interview With Former DOE Chief Of Staff
What’s Next For Oil: Interview With Former DOE Chief Of Staff In this week’s MacroVoices podcast, Erik Townsend and Joe McMonigle, former chief of staff at the US Department of Energy, discuss the state of the global energy market, and OPEC’s rapidly diminishing ability to control oil prices. McMonigle believes investors will be hearing more jawboning from […]
Oil prices set to rise sharply, unless new projects are approved
Oil prices set to rise sharply, unless new projects are approved Without new investments, oil prices will rise sharply in the next five years, energy conference told The International Energy Agency says there will be supply problems in three years if a two-year trend in falling oil investments continues into 2017. (Jeff McIntosh/Canadian Press) Oil […]
Oil Down As Glut Fears Return
Oil Down As Glut Fears Return Oil prices fell on Friday as the IEA downgraded its projections for oil demand, dashing hopes that oil markets would rebalance this year. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) …click on the above link to read the rest of the […]
America’s “Soaring” Gasoline And Oil Demand Was Just An Illusion: How The EIA Fooled The Algos
America’s “Soaring” Gasoline And Oil Demand Was Just An Illusion: How The EIA Fooled The Algos When it comes to “real-time” measurements of crude demand and supply, the data is notoriously bad (and perhaps, according to some, intentionally manipulated). We pointed this out most recently in early March when we that according to IEA data, crude […]
A 4.5-Million-Barrel Per Day Oil Shortage Looms: Wood Mackenzie
A 4.5-Million-Barrel Per Day Oil Shortage Looms: Wood Mackenzie A report by Wood Mackenzie has warned the world may face a daily oil shortage of 4.5 million barrels by 2035. The amount represents around half of the global consumption estimate of the International Energy Agency (IEA) for 2016. In other words, a true crisis is looming—and for the moment, […]
US shale oil peak in 2015
US shale oil peak in 2015 The recent EIA drilling productivity reports show a peaking of shale oil production in the main production regions. https://www.eia.gov/petroleum/drilling/ Fig 1: Bakken production change from old/new wells The 1st panel shows that the number of drilling rigs has dropped sharply but the initial well production per rig has increased from […]
Again and again: supposed evidence for decoupling emissions from growth is not what it seems
Again and again: supposed evidence for decoupling emissions from growth is not what it seems It can be difficult to form a view of what’s really going on in our atmosphere, given the amount of information and of contradictory claims. This piece concerns recent reports on global greenhouse gas (GHG) emissions and levels. On 16th March, […]
Shock Report: Oil Oversupply Exaggerated: Millions of Barrels Go Missing: “Oil Market Could Tighten Substantially”
Shock Report: Oil Oversupply Exaggerated: Millions of Barrels Go Missing: “Oil Market Could Tighten Substantially” You may remember that just two months ago the International Energy Agency warnedthe oil market could “drown in oversupply” in 2016. The outlook for oil, which had tumbled 75% since 2012 and hit a low of $28 per barrel by mid January, was […]
Emissions standstill boosts Paris hopes
Emissions standstill boosts Paris hopes Reduced coal use in China will have a positive impact on poor air quality. Image: V.T. Polywoda via Flickr The link between global economic growth and emissions growth has been further weakened as greenhouse gas levels show no increase for the second year in succession. LONDON, 18 March, 2016 – The world continued […]
Energy Wars of Attrition: The Irony of Oil Abundance
Energy Wars of Attrition: The Irony of Oil Abundance Three and a half years ago, the International Energy Agency (IEA) triggered headlines around the world by predicting that the United States would overtake Saudi Arabia to become the world’s leading oil producer by 2020 and, together with Canada, would become a net exporter of oil around 2030. Overnight, […]
In Spite Of Oil Price Slump, Canadian Oil Output To Increase
In Spite Of Oil Price Slump, Canadian Oil Output To Increase It was yet another depressing headline congruent with the rest of the bad news bombarding the battered Canadian oilpatch for 15 months. On February 22 Postmedia (National Post, Calgary Herald, Edmonton Journal) carried the headline, “Canadian oil production growth could come to ‘complete standstill,’ IEA […]
IEA recommends more government funding for energy sector
IEA recommends more government funding for energy sector New report suggests public support for research is dwindling in Canada Canada should increase funding to the energy sector, according to a new IEA report. (Kyle Bakx/CBC) Canada’s energy industry needs more research and development funding from government, according to a new report by the International Energy […]
Shale Set To Decline Substantially This Year
Shale Set To Decline Substantially This Year U.S. shale has weathered the oil crash better than many expected, but the stubborn persistence of low prices through 2016 could amount to the “straw breaking the camel’s back” for shale production. The International Energy Agency released its Medium Term Oil Market Report on February 22 at the IHS CERA […]
