I started my blog with this, 12 years ago The IEA Reiterates Its Peak Oil Demand Prediction Authored by Irina Slav via OilPrice.com, In its latest World Energy Outlook, the International Energy Agency has reiterated its claim that crude oil, natural gas, and coal demand will peak before 2030. The agency sees the emergence of a new clean energy economy as providing hope for the way forward, emphasizing the economic case for clean energy technologies. The report focuses on the…
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There are some home truths here “Renewables Only Generate Electricity, But Manufacture Nothing For Society” May 24, 2023 • by Ronald Stein “World leaders are not cognizant enough to know that renewables only generate electricity, and thus have no plans for the replacement of what is now manufactured from fossil fuels, which are supporting the 8 billion on this planet! Epoch Times TV produced this 1-minute YouTube clip for Social Media, about the elephant in the room that no one wants to…
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Tverberg: Why Financial Approaches Won’t Fix The World’s Economic Problems This Time Gail Tverberg Authored by Gail Tverberg via Our Finite World blog, Time and time again, financial approaches have worked to fix economic problems. Raising interest rates has acted to slow the economy and lowering them has acted to speed up the economy. Governments overspending their incomes also acts to push the economy ahead; doing the reverse seems to slow economies down. What could possibly go wrong? The issue…
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We Appear To Be Very Close To Peak Global Oil Production, And That Has Enormous Implications For The Entire Global Economy What do you think is going to happen when we get to a point where the world simply cannot produce any more oil than it is already producing? It is often said that “energy is the economy”, and to a large degree that is true. Very wealthy nations with large GDPs tend to use a great deal of energy,…
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Rick Perry: Saudi Arabia Producing About as Much Oil as They Can — ‘Close to the Limits of Their Production Friday on FNC’s “Your World,” former Energy Secretary Rick Perry dismissed the efficacy of any efforts by the Biden administration to convince oil-rich Saudi Arabia to produce more oil than they are right now. Perry told host Neil Cavuto that at such high prices, he suspected the Saudis were producing “about as much as they can.” “Well, I think, at…
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It’s back to Peak Oil! This story came out from the G-9 meeting at the end of last month, but I only picked it up today. This is highly, highly significant because it scuppers Joe Biden’s plans to increase production but it puts Peak Oil back on the table. The UAE and Saudi Arabia will not increase production because they CAN’T. I have known for some years that Saudi Arabia is past peak production and has for some years, something…
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If you want to understand what is happening in the world you need to go beyond the daily political and military news and delve deeper and understand the three E’s of Economy, Energy and Environment. In his gentle way, Dr Martenson lays out the dangerous delusion of those making decisions in the West and the unbelievable stupidity and delusion of those who say that the end of the oil industry can’t come a minute too late. These idiots will discover…
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Welcome To The Greatest Energy Crisis In History – Things Will Only Get Much More Painful From Here Michael Snyder Just as the western world was accelerating the transition away from traditional forms of energy, the COVID pandemic caused the most epic supply chain crisis in history, and now the largest land war in Europe since World War II has thrown global energy markets into a state of complete and utter chaos. And if you think that things are bad…
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Tumbling Inventories Send US Gasoline, Diesel Prices To Fresh Record High By Tsvetana Paraskova of OilPrice.com U.S. gasoline prices continued to rise, setting another all-time high on Wednesday at $4.404 per gallon average nationwide, data from AAA showed today. That’s the highest recorded average price for gasoline in the United States, ever. Diesel prices also hit a new high on Wednesday, reaching $5.553 a gallon. This is the highest average price ever recorded, too. Average U.S. gasoline prices have reached new records…
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Tverberg: The World Has A Major Crude Oil Problem; Expect Conflict Ahead Authored by Gail Tverberg via Our Finite World blog, 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 to contract in unexpected ways, including in the form of economic lockdowns and aggression between…
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