Tag Archives: Oil

  • Insider

    Reality Shock

    THIS is the data you need to see. Not the fake hopium peddled to us.
    by Chris Martenson

    Friday, October 4, 2019, 2:59 PM

    19

    Executive Summary

    • Urgency is needed, as society’s alarm bells aren’t working
    • The most important charts of all
    • Recent learnings on resilience relocation
    • When a culture becomes desperate, it reacts desperately. No one wins.

    If you have not yet read Part 1: Getting Real About Green Energy, available free to all readers, please click here to read it first.

    What seems to be true is that humanity is in the early innings of a great transition.  Losing access to abundant energy will change more things that you or I can appreciate at this time.

    The future is barreling towards us at a furious pace.  And the pace of that change is accelerating.

    It’s time to freak out a bit.  To get serious about protecting ourselves.  To make different decisions and reorganize our priorities.

    If you understand energy and its relationship to the economy the way I do, you’d share my urgency to create community and develop a resilient homestead.  My goal here is to nudge you towards action.

    Here’s what has me so concerned right now. These charts clearly show the… (Enroll now to continue reading)

     

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  • Blog

    Getting Real About Green Energy

    An honest analysis of what it CAN'T promise
    by Chris Martenson

    Friday, October 4, 2019, 2:58 PM

    100

    I’m often asked where I stand on wind, solar and other alternative energy sources.

    My answer is: I love them. But they’re incapable of enabling our society to smoothly slip over to powering itself by other means.

    They’re not going to “save us”.

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  • Insider

    Off The Cuff: Declining Energy Consumption Shows Recession Is At The Doorstep

    Transport fuel volumes & prices are falling fast
    by Adam Taggart

    Tuesday, September 10, 2019, 8:39 AM

    82

    In this week’s Off The Cuff podcast, Chris and Art Berman discuss:

    • Understanding The Importance Of Crack Spreads
    • Diesel Consumption Is Down 500,000 Barrels/Day Since January
    • The Shale Oil Reckoning Is Approaching
    • Key Slides From Art

    Petroleum expert Art Berman explains how crack spreads (the difference between what refiners pay for crude oil and the price they receive for their refined product) and oil demand volumes are indicating the global economy is slowing markedly. Economies need energy to function. Less energy consumed = lower growth and output.

    Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio as well as all of PeakProsperity.com’s other premium content.

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  • Blog

    Save The World By First Saving Yourself

    We each have a role to play in how the world recovers from the coming crisis
    by Chris Martenson

    Friday, August 23, 2019, 5:00 PM

    60

    Yes, the world is busy collapsing around us. That’s true.

    But collapse is a process, not an event. It can be ameliorated and even reversed, depending on the actions we decide to take from here.

    And there’s still time left to change our fate.  Not much, mind you. But enough to matter.

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  • Insider
    Richard Heinberg

    Off The Cuff: Why Drilling US Oil Isn’t Profitable

    Oil field service costs always escalate faster than oil's price
    by Adam Taggart

    Thursday, July 18, 2019, 9:47 AM

    6

    In this week’s Off The Cuff podcast, Chris and Art Berman discuss:

    • Shale Oil’s Chronic Profit Drought
      • Nearly all companies are cash-flow negative
    • Why Drilling US Oil Isn’t Profitable
      • Oil service costs eat your lunch
    • Why Drillers Can’t Stop Drilling
      • They need cash to service their debts
    • Shale Oil Is A Business Model With No Future
      • When credit tightens, the whole industry will implode

    Right now, the US is still producing a record amount of oil, due mostly to shale fields developed within the past decade. But that bonanza won’t last — it can’t last — explains petroleum geologist Art Berman. Nearly every shale driller has been and will remain to be unprofitable. The nature of shale wells and the nature of oil service costs will ensure that.

    Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio as well as all of PeakProsperity.com’s other premium content.

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  • Insider
    Drone Iran US War

    Drone Shot Down, Gold And Oil Shoot Up

    How will the US react?
    by Chris Martenson

    Thursday, June 20, 2019, 5:45 PM

    22

    Maybe with all the monetary stimulus and other catalysts, oil and gold were just itching for a reason to go higher, but on Thursday morning oil convincingly launched higher on news that Iran shot down a US drone.

    Gold, which had rather mysteriously spiked earlier on Wednesday night stayed elevated, even as copper, platinum and palladium all tumbled back lower throughout the day.

    The drone shot down was a very advanced, and large version equipped presumably with the latest and most advanced spying and detection hardware. This action moves us a few notches closer to an actual shooting war with Iran.

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  • Blog
    Black Swan Event

    Waiting For The Black Swan

    War with Iran would be the beginning of the end
    by Chris Martenson

    Friday, June 14, 2019, 2:38 PM

    31

    Two more tankers were attacked near the Strait of Hormuz on Thursday morning  (6/13/19) in the Gulf of Oman, and if hostilities advance we could be facing a ‘black swan’ event. One that changes everything, and divides the world into ‘before’ and ‘after’ periods.

    A lot of us are waiting for ‘something’ to happen. We know that there are too many unsustainable trends and practices running and we fall into the “let’s just rip the Band-Aid off” camp.   Some, like myself, have lost faith in the political leadership and institutions and doubt they retain any capacity to attend to anything more than their own selfish interests, let alone manage the difficult tasks ahead rooted as they are in systems theory and managing complexity.

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  • Blog

    These Are The ‘Good Old Days’

    At tipping points like now, the steps we take in the present determine our future
    by Chris Martenson

    Friday, May 31, 2019, 6:07 PM

    50

    We happen to be alive at a time of peak abundance and technological miracles.  It’s never been easier or more comfortable to be a human.

    On nearly every dimension — longevity, dependable access to food, quality of shelter, personal safety, leisure time, intellectual pursuits, technological advancements — no previous generation of humans have enjoyed the excesses and luxuries that we currently do.

    What are you going to do with that good fortune while it lasts? Because it won’t for much longer.

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  • Insider
    Shutterstock

    Off The Cuff: Twilight In The Desert Has Begun

    An oil engineer's dark take on the Ghawar oil field decline
    by Adam Taggart

    Tuesday, April 9, 2019, 4:45 PM

    6

    In this week's Off The Cuff podcast, Chris and Art Berman discuss:

    • Is the Ghawar oil field truly in decline?
    • If so, what are the implications?
    • What other important revelations does the Saudi Aramco prospectus contain?

    In the light of the huge surprise contained in the recent Saudi Aramco prospectus, that Saudi Arabia's massive Ghawar “crown jewel” conventional oil field is in decline (currently at a maximum output of 3.8 million barrels per day vs the previous estimate of 5.8mbd), we rushed to interview seasoned petroleum geologist Art Berman on the news.

    Is he as concerned about the revelation as we are?

    Yes. In fact, he suspects the 3.8mbd is likely still an overly-exagerrated figure, and that the field's true max output is even lower.

    In his estimation, the fiction the world has been telling itself — that Peak Oil isn't real — is about to be rudely disproven. The recent (and much more expensive) shale bonanza will prove to be a short-lived distraction, and we'll soon be face-to-face with the predicament of how to power the global economy with less net energy.

    Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio as well as all of PeakProsperity.com's other premium content.

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  • Insider

    Huge News: The Ghawar Is In Decline!

    The world's most productive oil field just shocked analysts
    by Chris Martenson

    Tuesday, April 2, 2019, 4:39 PM

    43

    Really big news hit this morning. And today is April 2nd, so we can't dismiss this as an April-fools prank.

    I explain it all with context below. But the summary is this: we're well on track for the oil supply shortage(s) and price spike(s) that I’ve been writing about for the past few years. It will all hit sometime between now and 2022 is my latest projected timeframe.

    This will be a before-and-after story. Before the coming price spikes, so much seemed possible. After they hit, so much less will be. The transition from Easy to Hard is now fully underwaym and you need to be eyes wide open about the data.

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