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OPEC Will Not Blink First
OPEC Will Not Blink First An OPEC production cut is unlikely until U.S. production declines by about another million barrels per day (mmbpd). OPEC won’t cut because it would accomplish nothing beyond a short-term increase in price. Carefully placed comments by OPEC and Russian oil ministers about the possibility of production cuts achieve almost the […]
IEA in Davos 2016 warns of higher oil prices in a few years’ time
IEA in Davos 2016 warns of higher oil prices in a few years’ time World Economic Forum The Transformation of Energy Fig 1: WEF energy panellists 22/1/2016 From right to left: moderator Daniel Yergin (IHS), Fatih Birol (IEA), Hiroaki Nakanishi (Hitachi), Ignacio Sánchez (Iberdrola), Eric Xin Luo (Shunfeng International Clean Energy) This recent forum was […]
Only Recession Can Prevent An Oil Price Spike
Only Recession Can Prevent An Oil Price Spike The biggest result from the collapse in oil prices could be a future price spike. Oil prices at $30 per barrel have put most producers under water. That has led to austere budgets and severe cuts to spending. Wood Mackenzie recently estimated that $380 billion in major […]
Oil Markets Are Balancing Faster Than IEA Would Have Us Believe
Oil Markets Are Balancing Faster Than IEA Would Have Us Believe Fundamentals point toward market balance but pessimism is dragging oil prices down. IEA has apparently succumbed to this negativity but their data suggests that things are getting better, not worse. In a business-as-usual world in which nothing unusual happens, the world will be close […]
No glut in Australian petroleum inventories
No glut in Australian petroleum inventories The Australian Capital’s daily newspaper Canberra Times started the New Year by reprinting an article of the Daily Telegraph referring to an abundance of oil – without checking whether this also applies to Australia, especially after a year of political football games between a Senate committee and energy bureaucrats on one […]
The Crude Oil Export Ban–What, Me Worry About Peak Oil?
The Crude Oil Export Ban–What, Me Worry About Peak Oil? Congress ended the U.S. crude oil export ban last week. There is apparently no longer a strategic reason to conserve oil because shale production has made American great again. At least, that’s narrative that reality-averse politicians and their bases prefer. The 1975 Energy Policy and Conservation Act (EPCA) that […]
IEA: China might have passed ‘peak coal’ in 2013
IEA: China might have passed ‘peak coal’ in 2013 China possibly saw its coal consumption peak in 2013, according to the International Energy Agency (IEA). The seismic shifts underway in China have global implications for both coal use and emissions. Global coal use fell by 0.9% in 2014, the first fall this century, says the IEA’s […]
IEA: US$ 40 oil means 3 mp/d less oil by 2020
IEA: US$ 40 oil means 3 mp/d less oil by 2020 You want $40 oil? Yes, please. But according to the World Energy Outlook 2015 of the International Energy Agency, recently released in London, that would mean 3 mb/d less US tight (shale) oil by 2020. That’s about 4% of global crude production. Fly less […]
IEA Sees No Oil Price Rebound For Years
IEA Sees No Oil Price Rebound For Years Oil prices are likely to stay below $80 per barrel for another five years, according to a closely watched energy report. The International Energy Agency released its 2015 World Energy Outlook (WEO), with predictions for energy markets out to 2040. Although there are no shortage of caveats, the IEA […]
Liam Fox’s Speech to the IEA on Honest Money
Liam Fox’s Speech to the IEA on Honest Money Dr Fox gave his speech on honest money to the IEA last week. The video can also be viewed here: http://www.iea.org.uk/multimedia/video/rt-hon-liam-fox-on-honest-money It is almost universally accepted that the first duty of government is the protection of its citizens. As a former Secretary of State for Defence I […]
Libs Need Clearer Energy Security Plan, Says ‘After the Sands’ Author
Libs Need Clearer Energy Security Plan, Says ‘After the Sands’ Author Increased oil patch ownership can help Canada meet emissions goals, says Gordon Laxer. Gordon Laxer says Canada is highly vulnerable to another oil crisis. Pipeline photo via Shutterstock. [Editor’s note: Join Dr. Gordon Laxer, political economist and co-founder of the Parkland Institute, for a free talk […]
Liam Fox on Sound Money
Liam Fox on Sound Money Liam Fox has written a piece in The Times on sound money: http://www.thesundaytimes.co.uk/sto/comment/regulars/guestcolumn/article1620451.ece Dr Fox also spoke at the IEA this morning about sound money and how it can be achieved: http://www.iea.org.uk/events/keynote-speech-the-rt-hon-dr-liam-fox-mp The title of the speech will be: “The Road to Honest Money” In his speech, Dr Fox will highlight […]
Will declines in U.S. and Canadian oil production lead to a global decline?
Will declines in U.S. and Canadian oil production lead to a global decline? At the beginning of this year I noted that all of the growth in world oil production* since 2005 has come from two countries: the United States and Canada. And, I suggested that since the growth in production in those two countries came […]
