Keyword: peakoil

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  • Everything Liberals Have Told Us About Energy Is Wrong

    12/02/2014 12:13:19 PM PST · by george76 · 22 replies
    Federalist ^ | December 2, 2014 | David Harsanyi
    In a chilling 2010 column, Paul Krugman declared: “peak oil has arrived.” So it’s really not surprising that the national average for a gallon of gas has fallen to $2.77 this week – in 10 states it was under $2.60 – and analysts predict we’re going to dip below the two-dollar mark soon. U.S. oil is down to $75 a barrel, a drop of more than $30 from the 52-week high. Meanwhile, the Institute for Energy Research estimates that we have enough natural gas in the U.S. to meet electricity needs for around 575 years at current fuel demand and...
  • Kemp: Peak Petroleum Engineer? Or Still Time to Join the Boom?

    07/17/2014 4:58:32 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | July 17, 2014 | John Kemp
    Petroleum engineers are among the best paid professionals in the United States. Only chief executives and some specialist doctors earned more last year, according to federal government pay data. Petroleum engineers were paid an average of $132,000 a year, with the top 10 percent on more than $187,000, according to the Bureau of Labor Statistics (BLS). These figures include everyone from the newest graduates to the most experienced engineers with decades of experience, and are based on median earnings in May 2013. Petroleum engineers earned almost four times as much as the average employee across the economy, who was on...
  • Peak Oil 3: Has Production Peaked?

    06/27/2014 9:14:34 AM PDT · by thackney · 23 replies
    Forbes ^ | 6/27/2014 | Michael Lynch
    The remnants of the peak oil community cling avidly to the belief that oil production has already peaked and that high prices prove this. “Look at the data” seems to have become a catechism amongst them, and it can be hard to dissuade them otherwise, especially by considering more than one variable as explaining oil supply and price. Most anyone can understand that high oil prices are no more an indicator of resource scarcity than the occasional spike in coffee, pork or orange juice prices. Things happen that can cause prices to rise for a period before supply and demand...
  • Big Oil Spending More, Getting Less in Production

    05/27/2014 11:15:13 AM PDT · by thackney · 25 replies
    Rig Zone ^ | 5/27/14 | Karen Boman
    Despite increased spending, oil majors are seeing flat or declining production as they struggle to replace reserves, according to a recent analyst report. Exxon Mobil Corp., Chevron Corp., Royalty Dutch Shell plc and BP plc recorded declines in their 2013 production. ExxonMobil reported an average production of 4,175 million barrels of oil equivalent per day (MMboepd), down 1.5 percent from 2012, and Chevron saw its production decline by .5 percent from 2012 to 2013 to 2,597 MMboepd. Shell’s average 3,199 MMboepd of production for 2013 was down 1.9 percent from 2012 levels, while BP saw its production volumes fall to...
  • As Fracking Rises, Peak Oil Theory Slowly Dies

    07/17/2013 5:21:08 AM PDT · by thackney · 43 replies
    Forbes ^ | 7/16/2013 | David Blackmon
    On July 3, the administrators of The Oil Drum, a blog/discussion forum site dedicated to and frequented by those who advocate for “Peak Oil” theory, announced the site would close at the end of July, marking an end to an eight-year existence. During that period of time, “Peak Oil” theory has basically gone the way of the California Condor, from widespread existence and acceptance in the oil and gas environment to near extinction as its environment has dramatically shifted thanks to the discovery of and ability to access massive oil shale reservoirs not just in the United States, but all...
  • Russia’s Rosneft At It Again, To Sink Billions More In New Oil Fields

    07/16/2013 8:56:06 AM PDT · by KMR · 2 replies
    FORBES ^ | July 16, 2013 | Kenneth Rapoza
    Guys...remember the Peak Oil debates? They seem to have, well, peaked. Check out all the money Russian oil giant Rosneft is throwing around at global oil supplies these days.
  • R.I.P. The Oil Drum 2005-2013 {Peak Oil proclaimers giving up}

    07/05/2013 11:05:18 AM PDT · by thackney · 23 replies
    Red State ^ | July 3rd, 2013 | Steve Maley
    It was with some dismay that I read this morning of the impending end of The Oil Drum, perhaps the leading “peak oil” blog … … due to scarcity of new content caused by a dwindling number of contributors. Despite our best efforts to fill this gap we have not been able to significantly improve the flow of high quality articles. Because of this and the high expense of running the site, the board has unanimously decided that the best course of action is to convert the site to a static archive of previously published material as of 31st July...
  • Oilprice.com links COT and new energy breakthrough

    03/09/2013 5:35:57 AM PST · by Kevmo · 20 replies
    LENR Forum ^ | March 8, 2013 | Torkel Nyberg
    Översätt] Oilprice.com links COT and new energy breakthrough -------------------------------------------------------------------------------- In Why Are the Big Financial Institutions Selling Oil BIG?, Oilprice.com author Torkel Nyberg links oil and low-energy nuclear reactions (LENR) in his analysis of a recent Commitment of Traders (COT) reports. It is a provocative thesis of his that the largest of corporations and financial institutions have inside knowledge of a breakthrough in LENR .... From the article: At some point during the fall of 2010 there was a large policy shift in hedging crude oil on the NYMEX futures exchange by the big banks and the oil companies. Up...
  • Memories of Peak Oil

    02/28/2013 6:23:20 PM PST · by neverdem · 20 replies
    The American ^ | February 21, 2013 | Vaclav Smil
    Is it too much to hope that even some catastrophists and peak-oil cultists will find it impossible to ignore the latest numbers? When the final figures for the fourth quarter of 2012 are in, the world will have a new crude oil production record: the total for the first three quarters was about 1 percent ahead of the 2011 total. This is a remarkable achievement for a commodity with annual output that now surpasses, for the first time ever, 4 billion metric tons and which has been, for decades, the largest source of fossil energy and the most valuable item...
  • Deliverance Day: The New Middle East Of America By 2020?

    02/17/2013 12:59:11 PM PST · by 2ndDivisionVet · 8 replies
    Seeking Alpha ^ | February 17, 2013 | Stephan Dube
    North America has become the fastest growing oil and gas region in the world. Production of shale oil and gas and oil sands resources are increasing year after year as new infrastructures are developed, new extraction technologies are used and more resources are found. The surging supply growth could change North America into the new Middle East by 2020 according to a GPS report produced by Citigroup (NYSE: C). If accurate, the energy industry would generate benefits from exploitation of oil and ensure endless economic wealth for the country. As a matter of fact, crude oil is off its all-time...
  • Peak Oil Bites the Dust

    01/29/2013 5:05:25 AM PST · by Renfield · 19 replies
    The Daily Bell ^ | 1-25-2013
    $20 trillion shale oil find surrounding Coober Pedy 'can fuel Australia' ... Coober Pedy has between 3.5 billion and 233 billion barrels of oil Australia could change from oil importer to exporter ... South Australia is sitting on oil potentially worth more than $20 trillion, independent reports claim - enough to turn Australia into a self-sufficient fuel producer. Brisbane company Linc Energy yesterday released two reports, based on drilling and seismic exploration, estimating the amount of oil in the as yet untapped Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to 233 billion barrels of oil. At the higher...
  • Oil Guru Destroys All Of The Hype About America's Energy Boom

    01/21/2013 7:21:50 PM PST · by blam · 42 replies
    TBI ^ | 1-21-2013 | Rob Wile
    Oil Guru Destroys All Of The Hype About America's Energy Boom Rob WileJan. 20, 2013, 10:20 AM Not everyone believes the U.S. is capable of becoming energy independent thanks to its shale oil and gas reserves, as the International Energy Association suggested recently. The math just doesn't work out, they say — America consumes too much. But some are even more skeptical than that. Arthur Berman, an oil analyst with Labyrinth Consulting Services, says the promise of America's shale reserves have been vastly overstated. His main argument: shale is too expensive to drill, and shale wells usually don't last longer...
  • Peak oil and other fallacies: John Kemp

    01/21/2013 6:09:34 AM PST · by thackney · 21 replies
    Reuters ^ | Jan 21, 2013 | John Kemp
    "The limit of production in this country (the United States) is being reached, and although new fields undoubtedly await discovery, the yearly (oil) output must inevitably decline, because the maintenance of output each year necessitates the drilling of an increasing number of wells. "Such an increase becomes impossible after a certain point is reached, not only because of a lack of acreage to be drilled, but because of the great number of wells that will ultimately have to be drilled." This assessment could have been written recently about the outlook for oil production from North Dakota's Bakken formation or by...
  • Coal to challenge oil’s dominance by 2017, says IEA

    12/19/2012 5:07:26 AM PST · by Olog-hai · 10 replies
    Manchester Guardian ^ | Tuesday 18 December 2012 06.01 EST | Fiona Harvey
    Coal is likely to rival oil as the world’s biggest source of energy in the next five years, with potentially disastrous consequences for the climate, according to the world's leading authority on energy economics. One of the biggest factors behind the rise in coal use has been the massive increase in the use of shale gas in the US. Coal consumption is increasing all over the world—even in countries and regions with carbon-cutting targets—except the US, where shale gas has displaced coal, shows new research from the International Energy Agency (IEA). The decline of the fuel in the US has...
  • Stop Worrying About “Peak Oil”

    07/28/2012 8:29:10 PM PDT · by Sark · 37 replies
    Principles & Policy ^ | July 28th, 2012
    For decades, the threat of “peak oil” has hung over policymakers of the developed world. The basic premise of peak oil is simple and difficult to argue with: At a certain point, we’ll extract as much petroleum as possible, and after that “peak,” our rate of extraction will inevitably decline. Since it takes so long for petroleum to develop naturally, there’s for all intents and purposes a finite amount of it on Earth. So, our rate of extraction can’t possibly continue rising forever. At some point, we will hit peak oil. Of course, that’s not the whole theory. Nearly all...
  • Pipeline Flip Turns U.S. Oil World 'Upside Down'

    05/19/2012 1:51:53 PM PDT · by Theoria · 41 replies
    NPR ^ | 18 May 2012 | Jeff Brady
    The U.S. oil boom has created a glut of crude in Cushing, Okla., a major oil storage hub. This sign dubs the city the "Pipeline Crossroads of the World." For years, Cushing, Okla., has been on the receiving end of a 500-mile pipeline funneling oil from the Gulf of Mexico to the American heartland.Starting this weekend, that pipeline will start moving crude in the other direction. That flow reversal could soon have implications at gas pumps around the country."For 40 years, crude oil flowed north," says Philip Verleger, a visiting fellow at the Peterson Institute for International Economics. "Today, oil...
  • GAO To Obama: More Oil Than Rest Of The World

    05/14/2012 7:09:16 PM PDT · by Colonel Kangaroo · 19 replies
    Investor's Business Daily ^ | May 14, 2012 | IBD Editorial
    Energy: The Government Accountability Office tells Congress the Green River Formation out West contains an "amount about equal to the entire world's proven oil reserves." So why are we keeping it locked up on federal lands? Exploding the Big Lie pushed by President Obama that we can't drill our way out of high gas prices because we have but 2% of the world's proven oil reserves, Anu Mittal, GAO director of natural resources and environment, testified before Congress last week that just one small part of the U.S. is capable of outproducing the rest of the planet. That small part...
  • “Peak Oil” hypothesis is following “Peak Gas” into oblivion

    05/03/2012 12:08:05 PM PDT · by Ernest_at_the_Beach · 11 replies
    The k2p blog ^ | February 20, 2012 at 7:52 am
    Oil production from oil shales in North Dakota is increasing rapidly and the much-heralded “peak” of oil production may have to be postponed. Alarmists will not be pleased.“Peak Oil” and “Peak Gas” are the points in time where the production of oil and gas respectively reach a peak and then decline to zero. The concept is based on the normal production cycle of an individual well extrapolated to all the oil and gas existing. The fundamental flaw in these hypotheses when trying to apply them to “finite” and exhaustible resources of any product is of course that: new sources of...
  • A World without Oil: Companies Prepare for a Fossil-Free Future

    04/02/2012 4:44:48 PM PDT · by Olog-hai · 25 replies
    Der Spiegel ^ | 04/02/2012 | DIETMAR HAWRANEK, ALEXANDER JUNG, ALEXANDER SMOLTCZYK AND FLORIAN ZERFASS
    Drivers may hate rising gas prices, but some companies are delighted as they watch the oil price soar. Firms like BMW and Airbus, which are leaders in fuel efficiency. actually benefit from expensive oil. They are just two of a growing number of companies that are already developing technologies for a post-fossil-fuel world. …A few cents more and a liter of super unleaded gasoline will cost German drivers €1.80 (around $9 a gallon). That means that someone driving a BMW 3 Series will have to pay over €110 ($150) to fill up the tank, with its 63 liter (17 gallon)...
  • Iran discovers gas field in Caspian Sea (estimated 50 TRILLION cubic feet of gas)

    12/12/2011 1:19:32 PM PST · by Libloather · 34 replies
    Yahoo ^ | 12/11/11
    Iran discovers gas field in Caspian SeaAP – Sun, Dec 11, 2011 TEHRAN, Iran (AP) — Iran's oil minister says the country has discovered a huge gas field containing an estimated 50 trillion cubic feet of gas in the Caspian Sea. **SNIP** Iran sits atop the world's second largest proven reserves of natural gas and is the second largest OPEC oil producer.
  • Daniel Yergin and Peak Oil - Prophet or Mere Historian?

    09/21/2011 7:16:14 AM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 21/09/2011 | John Daly
    On 17 September The Wall Street Journal published a fascinating article on “peak oil,” “There Will Be Oil,” written by Daniel Yergin, chairman of IHS Cambridge Energy Research Associates, an energy research and consulting firm and deserved recipient of Pulitzer Prize for his 1991 book, The Prize: The Epic Quest for Oil, Money and Power. According to The Wall Street Journal, “There Will Be Oil” “is adapted from his new book, The Quest: Energy, Security and the Remaking of the Modern World.” The essay will doubtless have widespread influence amongst prosperous The Wall Street Journal readers, but in his glib...
  • There Will Be Oil (advocates of 'peak oil' have wrongly been predicting a crisis in energy supplies)

    09/19/2011 2:25:22 PM PDT · by SeekAndFind · 46 replies
    Wall Street Journal ^ | 09/19/2011 | Daniel Yergin
    Since the beginning of the 21st century, a fear has come to pervade the prospects for oil, fueling anxieties about the stability of global energy supplies. It has been stoked by rising prices and growing demand, especially as the people of China and other emerging economies have taken to the road. This specter goes by the name of "peak oil." Its advocates argue that the world is fast approaching (or has already reached) a point of maximum oil output. They warn that "an unprecedented crisis is just over the horizon." The result, it is said, will be "chaos," to say...
  • First cargo of Pearl Gas-To-Liquids products ship from Qatar ("Peak Oil" is economic nonsense news)

    06/15/2011 7:01:26 AM PDT · by theBuckwheat · 15 replies
    Oil & Gas Journal ^ | Jun 14, 2011 | OGJ editors
    HOUSTON, June 14 -- Royal Dutch Shell PLC and Qatar Petroleum reported the Pearl gas-to-liquids plant in Qatar’s Ras Laffan Industrial City sold its first commercial shipment of GTL gas oil. The sale marked the start of production of GTL products from the plant. In coming months, production is to ramp up from the Pearl GTL project’s first train, and the second train is expected to start up before yearend. The plant is expected to reach full production capacity by mid-2012. It is the largest energy project ever launched in the Qatar, officials said. Qatar's Minister of Energy and Industry...
  • The Fossil-fuel bonanza makes peak oil theorists look ridiculous. Plenty of Oil right here.

    04/10/2011 6:10:10 PM PDT · by SeekAndFind · 36 replies
    Financial Post ^ | 04/10/2011 | Peter Foster
    In his devastating 2008 book, An Appeal to Reason: A Cool Look at Global Warming, former British Chancellor of the Exchequer Nigel Lawson noted the perhaps unprecedented hypocrisy surrounding the climate issue. “Fortunately,” he concluded, “the gap between rhetoric and reality when it comes to global warming, between the apocalyptic nature of the alleged threat and the relative modesty of the measures so far implemented (not to mention the sublime disregard of international obligations solemnly undertaken), is far greater than I can recall with any other issue in a lifetime of either observing or practising politics.” Even more fortunately, as...
  • The Resurrection of Peak Oil

    02/21/2011 1:51:35 PM PST · by bananaman22 · 7 replies
    OilPrice.com ^ | 21.02.2010 | John Thomas
    It has been a long wait for “peak oilers,” whose passionate belief is that the world will run out of oil in coming years, sending prices through the roof. This splinter religion came into being in 1956 when M. King Hubbert produced some simple supply/demand charts showing that US reserves of Texas tea would dry up by 1965-70, forcing a heavy reliance on imports with which we have become all too familiar. This was later expanded globally, implying that Western civilization would come to a grinding halt. It all seemed very prescient, when in 1973 OPEC raised prices from $3/barrel...
  • Oooops! Saudi oil reserves 'overstated by 40%' (Long suspected, now apparently confirmed)

    02/09/2011 7:52:06 AM PST · by SeekAndFind · 38 replies
    American Thinker ^ | 02/09/2011 | Rick Moran
    As far back as 2004, there was worry that the Saudis were fudging on how much oil they still had in the ground. Thanks to Wikileaks, we now have a little better idea. The Guardian: The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 300bn barrels -...
  • WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices

    02/08/2011 6:07:47 PM PST · by ErnstStavroBlofeld · 52 replies
    The Guardian ^ | 2/8/2011 | John Vidal
    The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show. The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 300bn barrels – nearly 40%. The revelation comes as the oil price has soared in recent weeks to more than $100 a barrel on global demand and tensions in the Middle East. Many analysts expect that the...
  • Bill Gates Jumps Into Oil Exploration; Brazil's Reserves to Double?

    01/21/2011 8:00:14 AM PST · by Duke C. · 6 replies
    GWPF ^ | Jan 19, 2010 | Al Fin energy
    "...The world is floating in hydrocarbon energy resources. Humans in developed societies must choose between the lefty-Luddite dieoff.orgiast philosophy -- as promoted by Obama's merry band of energy starvationists -- or a cleaner and more abundant future of limitless resources released by the unbound human mind."
  • Part 2 of 2: Surviving martial law

    12/09/2010 3:22:30 PM PST · by harygarfield · 16 replies · 1+ views
    In my last thoughts, Michael Ruppert said in his interview for “Collapse” that the earth's population stayed around a billion people until 1900 when oil was introduced into society, then our population skyrocketed to almost 8 billion people. Once oil is gone, the earth will balance out because oil will be taken out of the equation. Those who have the survival skills will outlast everyone, those who don't may turn into cannibals. It's estimated at current levels that we'll run out of oil between 2035-2055. I think the most important thing to do from here on out is to pass...
  • It Will Take 131 Years To Replace Oil, And We've Only Got 10

    11/14/2010 4:20:08 PM PST · by WebFocus · 107 replies
    Business Insider ^ | 11/14/2010 | Dian L. Chu, Economic Forecast and Opinion
    It seems the panic time for both green enthusiasts and peak oil pundits. According to a new paper by two researchers at the University of California – Davis, it would take 131 years for replacement of gasoline and diesel given the current pace of research and development; however, world's oil could run dry almost a century before that. The research was published on Nov. 8 at Environmental Science & Technology, which is based on the theory that market expectations are good predictors reflected in prices of publicly traded securities. By incorporating market expectations into the model, the authors, Nataliya Malyshkina...
  • 'Peak Oil' and the German Government--Military Study Warns of a Potentially Drastic Oil Crisis

    09/02/2010 5:03:40 AM PDT · by DeaconBenjamin · 15 replies
    Spiegel ^ | 09/01/2010 | By Stefan Schultz
    A study by a German military think tank has analyzed how "peak oil" might change the global economy. The internal draft document -- leaked on the Internet -- shows for the first time how carefully the German government has considered a potential energy crisis. * * * The study is a product of ... a think tank tasked with fixing a direction for the German military. The team of authors ... uses sometimes-dramatic language to depict the consequences of an irreversible depletion of raw materials. It warns of shifts in the global balance of power, of the formation of new...
  • They Died Before the Oil Ran Out

    08/17/2010 9:18:08 AM PDT · by Faketan · 32 replies
    OilPrice.com ^ | 08/16/2010 | Llewellyn King
    There is an open secret in the oil industry that dare not speak its name: peak oil. Well, two did speak its name and gained no acclaim for it. One, M. King Hubbert, died years ago. The other and the most controversial, Matthew Simmons, died at his Maine summer home Aug. 8. The peak oil idea is simple: Oil is a finite commodity, and one day we are going to use up all of it. Hubbert, a geologist, began speculating on the effects of the gradual decline in worldwide production in the 1950s. He expressed this in a simple graph,...
  • U.S. Dollar Crash Is Not Going To Happen

    10/22/2009 10:47:47 AM PDT · by blam · 22 replies · 2,022+ views
    The Market Oracle ^ | 10-22-2009 | Mike Whitney
    U.S. Dollar Crash Is Not Going To Happen Currencies / US Dollar Oct 22, 2009 - 01:26 AM By: Mike_Whitney The dollar is not going to crash. In fact, many economists believe that the dollar will rally when the Fed ends its quantitative easing program (QE) sometime in early 2010. The Fed is on track to buy nearly $2 trillion dollars of mortgage-backed securities, US Treasuries and agency debt. In other words, the Fed is printing money and pumping it into the housing market to keep the market from collapsing. This keeps interest rates low, but it also weakens the...
  • The Myth of US High Speed Rail

    07/25/2010 6:38:48 PM PDT · by PugetSoundSoldier · 108 replies · 3+ views
    My Blog - Simply Shrug ^ | July 26, 2010 | PugetSoundSoldier
    There's a big push in some corners of the US transportation industry to "bring high speed rail to America". Visions of relaxed, latte-sipping trips over the nation, no lines for security, low cost trips are certainly heady ideas, but do they bear out? Let's take a critical, cold, calculating look at the reality of the situation. As many know, I split my time between the US (Seattle, WA area) and Asia (predominantly Shanghai, China). China's been on a high speed rail building frenzy recently, and there are thousands of kilometers of line laid, with thousands more to come. Soon most...
  • OPEC Going Sideways: Not a Good Time for Oil Importers

    07/17/2010 9:54:12 AM PDT · by profgoose · 2 replies
    The Oil Drum ^ | 17 JUL 2010 | Matt Mushalik
    OPEC tells us it has lots of spare capacity, but how much should we believe them? Even when prices were much higher than they are now, back in 2008, they did not make use of all of the spare capacity that they supposedly had. Figure 1 When one looks at a history of estimates of future productive capacity, we find too, that they have tended to decrease over time (up until the new 2010 report)--also raising questions about current estimates. The International Energy Agency (IEA) recently put out its Mid Term Oil and Gas Market Report 2010 (MTOMR 2010). Although...
  • BP's Deepwater Oil Spill - the Testing Continues - and Open Thread

    07/17/2010 9:52:05 AM PDT · by profgoose · 59 replies
    The Oil Drum ^ | 17 JUL 2010 | Heading Out
    At this morning's press briefing, Kent Wells of BP reported that pressures have now reached 6,745 psi, and are building at about 2 psi per hour. BP is estimating ultimate pressure will be around 6,800 psi. While this is not as high as originally expected, there are several reasonable explanations for this lower pressure reading, including the possibility that the well is now somewhat depleted, and therefore has lower pressure. BP seems to be encouraged by the results. Mr. Wells said several times, "We are encouraged that we have integrity," and "We find no evidence of lack of integrity."
  • US Oil Imports - Looking at a Few Graphs

    07/16/2010 9:00:50 AM PDT · by profgoose · 1 replies · 1+ views
    The Oil Drum ^ | 16 JUL 10 | Gail Tverberg
    With all of our problems in the Gulf of Mexico, we think about importing more from elsewhere. Let's look at some graphs of net imports of crude oil and refined products, and of some US production amounts, to see what is happening now. Perhaps this will give us insight as to what to expect going forward, and how many options we really have with respect to oil imports. Figure 1. US net imports of oil and oil products, using an EIA chart As one can see, US net imports peaked in 2005, and have been declining ever since. The year...
  • Why Alternative Energy Will Never Pencil Out

    07/09/2010 10:08:08 AM PDT · by Faketan · 4 replies
    Oilprice.com ^ | 07/07/2010 | Charles Hugh Smith
    Advocates of a smooth transition away from petroleum may be surprised by the consequences of huge swings in the cost of oil. I first proposed a "head-fake" in the price of oil in 2008. My thesis was that the oil exporting nations had become so dependent on revenues from oil that even as prices plummeted in global recession, they would have no choice financially and politically to pumping every barrel they could. This would increase supply even as demand fell, causing prices to crash. This dynamic would drive prices down to lows which are widely considered "impossible" in an era...
  • Environmentalists Also To Blame For Exxon Valdez And Gulf Spills (Duh)

    06/01/2010 5:02:16 PM PDT · by Kaslin · 13 replies · 686+ views
    IBD Editorials ^ | June 1, 2010 | Investors Business Daily staff
    Energy Policy: To save the environment, a senator from Pennsylvania wants to shut off a major source of natural gas. Weren't the roads to the Exxon Valdez and Deepwater Horizon disasters paved with equally good intentions? Environmentalism did not cause the Deepwater Horizon oil disaster, but it did help make it possible, just as 1989's Exxon Valdez disaster, which the Gulf Oil spill has now eclipsed, was also ironically made possible by a desire to protect the environment. The original plan when oil was discovered at Prudhoe Bay on Alaska's North Slope was to build a pipeline directly to the...
  • Drilling Oil Execs For Answers

    05/11/2010 4:26:22 PM PDT · by Kaslin · 13 replies · 455+ views
    Investors.com ^ | May 11, 2010 | Investors Business Daily staff
    The BP Spill: Tuesday on Capitol Hill, oil executives were subjected to the Senate's latest show trial. Senators did not say the accident in federal waters was a federal responsibility or that nature spills more oil every day. The morning hearing by the Energy and Natural Resources Committee chaired by Sen. Jeff Bingaman of New Mexico and the afternoon session before California Sen. Barbara Boxer's Environmental and Public Works Committee prove White House Chief of Staff Rahm Emanuel's dictum that a good crisis is a terrible thing to waste — especially when your goal is exploiting the Deepwater Horizon disaster...
  • Obama's Katrina

    05/03/2010 6:10:49 PM PDT · by Kaslin · 52 replies · 1,445+ views
    Investors.com ^ | May 3, 2010 | INVESTORS BUSINESS DAILY Staff
    Media Bias: As the Gulf Coast faced ecological disaster, the president yukked it up with White House correspondents. His Saturday radio address didn't even mention the oil spill. President Bush, call your office. Rarely has media sycophancy been on such sharp display as in the largely indifferent response to President Obama's own indifference to the oil rig disaster in the Gulf of Mexico. The coverage has been far different from that given to President Bush's handling of the aftermath of Hurricane Katrina. The White House announced Saturday morning that Obama would head to the Gulf Coast on Sunday, just a...
  • Louisiana Spill: Big Oil's Chernobyl?

    04/30/2010 5:18:32 PM PDT · by Kaslin · 87 replies · 2,100+ views
    Investors.com ^ | April 30, 2010 | INVESTORS BUSINESS DAILY Staff
    Energy: The administration has banned new offshore drilling until the Gulf oil spill is investigated. Was its heart in it anyway? It seems environmental concerns apply only to certain forms of energy. No one pays much attention to the aquatic "dead zones" that have appeared off our shores at the mouths of our rivers due to agricultural runoff created by mandates for corn-based ethanol. Ethanol is green energy, good energy — never mind that such biofuels drive up food prices, increase hunger around the world and damage the environment in their own way. The explosion that blew apart an oil...
  • The Imminent Crash Of The Oil Supply

    04/24/2010 7:39:48 AM PDT · by OregonRancher · 45 replies · 1,520+ views
    Inteldaily ^ | APRIL 23, 2010 | Nicholas C. Arguimbau
    The Imminent Crash Of The Oil Supply: What Is Going To Happen And How It Came To Pass That We Weren't Forewarned APRIL 23, 2010 in COMMENTARY By Nicholas C. Arguimbau (The Intelligence Daily) - Look at this graph and be afraid. It does not come from Earth First. It does not come from the Sierra Club. It was not drawn by Socialists or Nazis or Osama Bin Laden or anyone from Goldman-Sachs. If you are a Republican Tea-Partier, rest assured it does not come from a progressive Democrat. And vice versa. It was drawn by the United States Department...
  • Drill, Mr. President, Drill

    03/31/2010 4:23:57 PM PDT · by Kaslin · 29 replies · 1,007+ views
    Investors.com ^ | March 31, 2010 | INVESTORS BUSINESS DAYLY Staff
    Energy: As the administration loosens restrictions on domestic energy development and offshore drilling, a reviled company develops technology to unlock America's vast shale resources. Drill, baby, drill. We have been among President Obama's harshest critics when it comes to the administration's overly restrictive energy policy, so we were pleasantly surprised to see him announce on Wednesday some light at the end of the pipeline. Some light, for many restrictions will remain in an energy policy best termed schizophrenic. Speaking at Andrews Air Force Base near Washington, D.C., Obama announced the welcome news that his administration will let lease sales go...
  • Politics and Peak Energy – Have we Reached the Tipping Point

    03/22/2010 5:35:12 PM PDT · by bananaman22 · 4 replies · 206+ views
    OilPrice.com ^ | 03/22/2010 | John Howe
    Economic success, growth, and an affluent (happy) consumer lifestyle directly depend on an abundance of inexpensive energy. Conversely, the quantity and type of energy consumed can have a very adverse effect on the surrounding environment and world ecological balance. It then follows that politics, the subject of governing civilized societies, is also directly dependent on the common denominator of energy, just at a time that we are facing the imminent and terminal decline of our prime energy source, oil, and ultimately all finite fossil fuels. Yet, the advocates of different positions, for instance, climate change (man made or not), or...
  • The U.S. No Longer Controls the Price of Oil in a Peak Oil World

    03/20/2010 12:45:18 PM PDT · by bananaman22 · 28 replies · 566+ views
    OilPrice.com ^ | 03/20/2010 | Gregor MacDonald
    Back in the days when US oil demand controlled the price of oil, a massive recession in the United States would have sent oil to 12.00 dollars a barrel. That era, which ended last decade, was defined by ongoing spare capacity in OPEC, low-cost oil in Non-OPEC, and nascent demand for oil in the developing world. That was then, and this is now. And so it’s rather quaint that the energy analysts from that previous era still gather each week on American financial TV, to discuss the inventories at Cushing, Oklahoma. Inventories at Cushing, Oklahoma? The US has been removing...
  • Debunking the Myth of Peak Oil - Why the Age of Cheap Oil is Far From Over

    03/17/2010 11:46:56 AM PDT · by bananaman22 · 13 replies · 621+ views
    OilPrice.com ^ | 17/03/2010 | Dennis Edison
    If I may, I would like to rebut or add a little objectivity to the flood of “Peak Oil” articles circulating around. When I see another crisis looming in the balance, and dramatized articles that warn of the “Dangers of Peak Oil,” I must question the validity or how this will effect the world, the USA, and you and I personally, and if indeed a crisis is at hand. As for world oil, if you ask the right questions, there are several new technologies/methods/alternatives and new finds that can easily supply enough hydrocarbon fuel for the next century or more....
  • There Will be No Economic Recovery as the Era of Cheap Oil Comes to an End

    03/09/2010 9:40:33 AM PST · by goldenwings · 20 replies · 212+ views
    OilPrice.com ^ | 08/03/2010 | Chris Nelder
    When oil crossed $120 a barrel for the first time in May 2008, oil cornucopians knew they were in trouble. Prices had quadrupled in just five years, yet had failed to bring new production online. Regular crude had flatlined around 74 million barrels per day (mbpd). The case for peak oil was looking stronger with every new uptick in crude futures. The following month, prominent peak oil critic and cornucopian Daniel Yergin of IHS-CERA changed his stance: The peak oil threat would be neutralized by peak demand. Gasoline consumption had peaked in the U.S. and Europe, he argued, due to...
  • Mexico Oil Politics Keeps Riches Just Out of Reach

    03/09/2010 7:41:48 AM PST · by Willie Green · 9 replies · 174+ views
    New York Times ^ | March 8, 2010 | CLIFFORD KRAUSS and ELISABETH MALKIN
    VENUSTIANO CARRANZA, Mexico — To the Mexican people, one of the great achievements in their history was the day their president kicked out foreign oil companies in 1938. Thus, they celebrate March 18 as a civic holiday. Yet today, that 72-year-old act has put Mexico in a straitjacket, one that threatens both the welfare of the country and the oil supply of the United States. The national oil company created after the 1938 seizure, Pemex, is entering a period of turmoil. Oil production in its aging fields is sagging so rapidly that Mexico, long one of the world’s top oil-exporting...
  • Peak Oil and the Investment Landscape: A Look at the Potential Winners and Losers

    02/19/2010 11:39:41 AM PST · by Bookworm22 · 19 replies · 412+ views
    OilPrice.com ^ | 19/02/2010 | Paul Larson
    Last month, I explained in an article how and why the world is approaching a worldwide peak in oil production sometime in the next decade. Although there are large implications throughout the economy, I want to say upfront that I do not think this will bring on Armageddon. Oil prices that are significantly higher than earlier in our lifetimes will bring about great change, yet I firmly believe that our economy has the ability to successfully adapt. Despite the strong headwind oil scarcity will create, I am still an optimist. I have structured this article by segmenting the "winners" and...