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Tag: Peak Oil

Peak Oil is back!

Peak Oil is back!

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

Rick Perry: Saudi Arabia Producing About as Much Oil as They Can — ‘Close to the Limits of Their Production

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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Saudi Arabia’s strategic oil reserves are running out: imports large quantities of Russian oil with Egypt as an intermediate country

Saudi Arabia’s strategic oil reserves are running out: imports large quantities of Russian oil with Egypt as an intermediate country

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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COLLAPSE: Understanding where we are

COLLAPSE: Understanding where we are

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

Welcome To The Greatest Energy Crisis In History

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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Dieselgeddon – America’s diesel supply on verge of catastrophic collapse

Dieselgeddon – America’s diesel supply on verge of catastrophic collapse

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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Peak Oil raises its head

Peak Oil raises its head

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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Closing New Zealand’s only oil refinery – an act of national suicide

Closing New Zealand’s only oil refinery – an act of national suicide

With everything that is going on I have overlooked a protest at Marsden Point oil refinery, New Zealand’s only, that is being closed at a time when the future of our energy security has never looked so grim. Marsden Point closure: Shutting New Zealand’s only oil refinery could expose country to fuel security risks – report Plans for a $250m shutdown of the country’s only refinery are already well advanced. Photo credit: File Image The government has been warned that…

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An act of national suicide

An act of national suicide

It seems to me that every decision by successive governments is an act in national suicide. How much could new fuel storage investments cost us? Process units at Marsden Point have now been shut down, marking an end to the refining operation at the plant. From tomorrow Refining NZ becomes Channel Infrastructure and the 60-year-old refinery becomes an import-only terminal for already-refined products – something critics say may have an impact on our fuel security. Energy Minister Megan Woods told Nine to Noon…

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Reconsidering Peak Oil

Reconsidering Peak Oil

It was the 2004 documentary, the End of Suburbia that introduced me to the principle of Peak Oil and where I first encountered names like Mike Ruppert, James Howard Kunstler and Richard Heinberg. Right now, it seems to me that although in some ways the documentary got some things wrong  – they failed to foresee fracking and other methods that have kept things going); it was also made before the 2008 financial meltdown that was not addressed although it was…

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