Tag Archives: petroleum

  • 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.

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  • Podcast

    Bethany McLean: Saudi America

    The truth about fracking & how it's changing the world
    by Adam Taggart

    Friday, March 1, 2019, 1:37 PM

    6

    For years now we've been covering the false promise of the American shale oil “miracle”.

    Yes, it has extracted a lot more oil out of American soil that most thought possible. But at an economic loss. And at great environmental cost.

    If the shale drilling companies can't make any profit, either when oil prices are high or low — why are we still pursuing shale deposits so aggressively?

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  • Podcast

    Art Berman: Exposing The False Promise Of Shale Oil

    Estimates of recoverable oil are proving wildly wrong
    by Adam Taggart

    Wednesday, January 16, 2019, 10:44 AM

    17

    Art Berman, geological consultant with over 37 years experience in petroleum exploration and production, returns to the podcast this week to debunk much of the hopium currently surrounding America’s shale oil output.

    Because the US is pinning huge hopes on its shale oil “revolution”, so much depends on that story being right. Here’s the narrative right now:

    • The US, is the new Saudi Arabia
    • It’s the swing producer when it comes to influencing the price of oil
    • The US will be able to increase oil production for decades to come
    • New technology is unlocking more oil shale supply all the time

    But what if there’s evidence that runs counter to all of that?

    We’re going to be taking a little victory lap on this week’s podcast because The Wall Street Journal has finally admitted that shale oil wells are not producing as much as the companies operating them touted they would produce — which is what we’ve been saying for years here at PeakProsperity.com, largely because we closely follow Art’s work.

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  • Insider

    The Rich Are Planning For Catastrophe

    What do they know that you don't?
    by Chris Martenson

    Friday, July 20, 2018, 7:10 PM

    73

    Executive Summary

    • Why the wealthy are plotting to leave us behind
    • The "madness of crowds" virtually ensures a period of social chaos when the system breaks
    • The media is, and will continue to be, used to manipulate the masses
    • The growing risk of a new kind of civil war in America
    • Preparing today will give you vastly more options tomorrow

    If you have not yet read Part 1: America The Insolvent available free to all readers, please click here to read it first.

    The Wealthy Are Plotting To Leave Us Behind

    In the absence of an official plan, you'd better have your own — something the extremely wealthy are already working on for themselves.

    As the co-founders of Peak Prosperity, Adam and I happen to know and/or interact with quite a few wealthy people who are deeply concerned about the future and taking steps to assure their survival in it.  These people have access to the very best information; they know the system better than your average citizen.  They know what the weak points are and what could go wrong.

    From our observations, it’s safe to say that the more insider-experience an individual has, the greater their concern.

    The least-concerned people are those without much knowledge of the system (i.e., most "regular" folks). Or a weak sense of curiosity. Or, most damagingly, a propensity to get their news from the mainstream media.  Let’s just say that the information available to the “retail crowd” is either incomplete or misleading (and quite often intentionally so).

    What I mean to say more directly is: if you're not already a billionaire and getting access to the very best and most accurate information, you’d do well to….

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  • Daily Digest
    Image by push1, Flickr Creative Commons

    Daily Digest 2/6 – Shale Reality Check, Permafrost Home To Large Mercury Reserves

    by DailyDigest

    Tuesday, February 6, 2018, 5:41 PM

    1
    • Stocks and Precious Metals Charts – Blue Monday – How Are the Mighty Mispricings of Risk Fallen 
    • A Timeline Of The FBI And DOJ's Involvement In Hillary's Emails And The Trump Dossier
    • How much are illegal activities behind the demand for crypto-currency?
    • The Market Meltdown Is an Ominous Sign
    • FEMA Contract Called for 30 Million Meals for Puerto Ricans. 50,000 Were Delivered.
    • Shale Reality Check
    • Oil Prices Ravaged By Financial Turmoil 
    • Arctic permafrost home to large mercury reserves, study finds 

    Read More »

  • Insider
    Creativa Images/Shutterstock

    Off The Cuff: A World Of Rising Interest Rates

    Means a future of falling prices -- in nearly everything
    by Adam Taggart

    Friday, December 29, 2017, 8:55 PM

    3

    In this week's Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

    • The Crashing Treasury Curve
      • Interest rates are on the move
    • Get Ready For Interest Rates To Start Rising
      • The end of a 30-year downtrend
    • When Rates Rise, Prices Will Fall
      • Bonds, stocks, housing — nearly everything
    • What's Next For Bitcoin?
      • We're witnessing a historical moment

    Charles and Chris discuss the implications to anticipate should interest rates indeed start rising. The quick summary? It will change everything…

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  • Blog
    REUTERS/Lintao Zhang/POOL

    If The Saudi Arabia Situation Doesn’t Worry You, You’re Not Paying Attention

    A key geopolitical axis is swiftly shifting
    by Chris Martenson

    Friday, November 10, 2017, 11:57 PM

    34

    While turbulent during the best of times, gigantic waves of change are now sweeping across the Middle East. The magnitude is such that the impact on the global price of oil, as well as world markets, is likely to be enormous.

    A dramatic geo-political realignment by Saudi Arabia is in full swing this month. It’s upending many decades of established strategic relationships among the world's superpowers and, in particular, is throwing the Middle East into turmoil. So much is currently in flux, especially in Saudi Arabia, that nearly anything can happen next. Which is precisely why this volatile situation should command our focused attention at this time.

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  • Podcast

    Art Berman: Don’t Get Used To Today’s Low Oil Prices

    They're a temporary anomaly. Higher prices are ahead.
    by Adam Taggart

    Sunday, May 7, 2017, 7:00 PM

    13

    Oil expert and geological consultant Art Berman returns to the podcast this week to address head-on the question: Was the Peak Oil theory wrong? With the world "awash" in sub-$50 per barrel oil, were all the warnings about persistently higher future oil prices just a bunch of alarmist hand-wringing?

    In a word: No.

    Art explains how the current glut of oil created by the US shale boom — along with high crude output by both OPEC and non-OPEC  producers — is a temporary anomaly. Fundamentally, we are not finding nearly as much oil as we need to continue our demand curve; and at the same time, we are extracting our reserves at a faster rate than ever. That's a mathematical recipe for a coming supply crunch. It's not a matter of if, but when.

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  • Podcast

    Jeffrey Brown: To Understand The Oil Story, You Need To Understand Exports

    Peak Oil is very much alive
    by Adam Taggart

    Sunday, September 13, 2015, 9:31 PM

    44

    Despite the attention-grabbing economic volatility that is grabbing headlines, it's important to keep our eye on the energy story firmly in focus. This is especially true as the headlines we regularly read about Peak Oil being dead " are "manifestly false" according to this week's podcast guest, petroleum geologist Jeffrey Brown. 

    As concerning as the fact that global oil production has plateaued over the past decade, despite trillions invested in trying to goose it higher, are Brown's forecasting model for oil exports. His Export Land Model shows how rising internal consumption can swing (and has swung) countries from major exporters to permanent importers within a dizzyingly short period of time.

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  • Podcast

    Arthur Berman: Why Today’s Shale Era Is The Retirement Party For Oil Production

    A leading geologist delivers the hard facts
    by Adam Taggart

    Saturday, February 7, 2015, 10:00 PM

    25

    Much of what's been 'sold' to us about the US shale oil revolution is massively over-hyped. The amount of commercially-recoverable shale oil is much less than touted, returns much less net energy than the petroleum our economy was built around, and is extremely unprofitable to extract for most drillers at today's lower oil price.

    To separate the hype from reality, our podcast guest is Arthur Berman, a geological consultant with 34 years of experience in petroleum exploration and production, who sees the recent US oil production boost from shale drilling as and short-lived and somewhat desperate; a kind of last hurrah before the lights get turned out.

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