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July 8, 2024 Readings
July 8, 2024 Readings Flooding Across the Midwest May Have Wiped Out Up to 1 Million Acres of Crops, New Estimates Now Show | AgWeb Let’s Stop Arguing About An Imaginary Energy Transition | Art Berman The Normalization of Madness – by Geoffrey Deihl “Overlapping Emergencies” Pushes Countries To Bolster Food Supply Stocks | ZeroHedge […]
IEA’s Staggering Oil Glut is Staggeringly Unlikely
IEA’s Staggering Oil Glut is Staggeringly Unlikely The International Energy Agency (IEA) has become a dishonest broker of information because of its renewable energy bias. This week, it reported that there will be a staggering oil glut by the end of the decade. “Total supply capacity is forecast to rise to nearly 114 million barrels a […]
Energy Wars | Art Berman
Energy Wars | Art Berman We have to save ourselves from ourselves Whoever controls the energy supply controls the new world order. Russia and China are deepening their relationship, Western allies in the Middle East are joining the fossil-fuelled BRICS alliance spanning the globe, and the Wagner group is loosening Europe’s grip of Africa. The […]
The Biggest Risks of This Decade
The Biggest Risks of This Decade Since the 2020 pandemic, many things have changed, but nothing more than geopolitics. Wars and clashes that used to be largely national have given way to more regional conflicts that threaten to upend the current world order. The Ukraine War and Israel-Iran conflicts have the potential to lead to […]
A Renewable Energy Transition Violates The Maximum Power Principle
A Renewable Energy Transition Violates The Maximum Power Principle We all want solutions to the world’s many crises but do we understand the underlying problems? Everything in nature, including human society, relies on energy for production, consumption, recycling, and sustainability. Therefore, to understand things, we must first examine how energy is turned into work and […]
The Oil and Energy Macro
The Oil and Energy Macro U.S. oil reserves reached a new record in 2022. Crude oil and condensate proved reserves exceed 48 billion barrels (Figure 1). Reserves declined from 1969 to 2006 then increased with additions from the deepwater Gulf of Mexico and Tight Oil. Tight oil accounted for 27 billion barrels (56% of total) […]
Oil Markets Were Unwise But Right in the Israel-Iran Crisis
Oil Markets Were Unwise But Right in the Israel-Iran Crisis The Middle East seemed to be on the brink of war last week and oil prices fell. Was the market wrong? Brent futures price closed at $90.45 per barrel on Friday, April 12 before Iran’s missile and drone attack on Israel (Figure 1). When markets […]
Almost Everything is About Oil in the Middle East
Almost Everything is About Oil in the Middle East Perhaps the most extraordinary part of Iran’s April 13 attack on Israel was that it was countered by a coalition that included Jordan, Saudi Arabia and the United Arab Emirates (UAE). It is also noteworthy that this was the first time that the United States engaged militarily in […]
Telling the Truth About Our Future
Telling the Truth About Our Future Renewable energy is a poor substitute for fossil fuels. That’s because renewables are a diffuse form of energy and produce power only about one-third of the time. That doesn’t stop renewable energy true-believers from trying to bend the laws of physics to tell a story that’s not true. EROI** (energy […]
Renewables Are Not the Cheapest Form of Power
Renewables Are Not the Cheapest Form of Power The CEO of TotalEnergies believes that the renewable transition will lead to higher—not lower—energy prices. That’s a very different view from the popular belief that renewable energy prices are falling so fast that electric power will become ever-cheaper. “We think that fundamentally this energy transition will mean […]
Draining America First—The Beginning of the End for Shale Gas
Draining America First—The Beginning of the End for Shale Gas The United States is the biggest producer of natural gas in the world and recently became the largest exporter of LNG. The industry is scrambling to build LNG (liquefied natural gas) export terminals as fast as permitting and funding will allow. This couldn’t come at a worse time. […]
A Renewable Energy Future Will Collapse the Financial System
A Renewable Energy Future Will Collapse the Financial System Energy is the economy. That’s a radical concept because most people think that the economy runs on money. It doesn’t. What is energy? It is the potential or capacity to do work. The economy runs on work. That’s why energy is the economy. That’s simple. What […]
Eagle Ford Shale–A Preview of Permian Decline
Eagle Ford Shale–A Preview of Permian Decline The Eagle Ford Shale was the hottest play in the United States a little more than a decade ago. In mid-2012, there were twice as many rigs drilling horizontal wells in the Eagle Ford as there were in the Permian basin. Figure 1. Map showing U.S. shale plays. […]
Climate change is a Narrow View of the Human Predicament
Climate change is a Narrow View of the Human Predicament A transition away from fossil fuels seems like a sensible approach to climate change but what are the correct ingredients? Wind, solar, hydrogen, electric vehicles, carbon capture, nuclear, geothermal, heat pumps, hydropower? It’s like a doctor treating a patient without examining the source of his […]
