Why the IEA is Wrong About Peak Oil Demand
Peak Oil
by admin
2w ago
The IEA predicts peak oil demand in 2028 due to the shift towards cleaner energy technologies. OPEC disagrees, forecasting rising oil demand driven by increasing energy needs in emerging economies. Two key factors often overlooked in oil demand forecasts are the growth of the middle class in emerging economies and the energy demand for artificial ..read more
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Did we inadvertently speed global warming?
Peak Oil
by admin
2w ago
A paper published late last year by climate scientists James Hansen and colleagues claims that the rate of global warming is poised to increase by 50% in the coming decades. Disclaimer: James Hansen has a bit of a checkered reputation within the climate community. There is a faction that discounts much of what he says ..read more
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Venezuela’s Oil Monopoly Eases
Peak Oil
by admin
2w ago
Venezuela is allowing a small startup to import fuels even as the country struggles to feed its owns refineries and the recent reimposition of US sanctions presses on its industry. The country’s oil minister granted Eway, founded in 2022 to cater to the private aviation industry, a permit in March to import low and ultra-low ..read more
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Why Germany is Choosing Natural Gas Over Nuclear Power
Peak Oil
by admin
2w ago
Germany’s anti-nuclear stance is based on historical factors rather than current geopolitical realities. Germany’s decision to phase out nuclear energy has led to concerns about energy security and higher energy prices. Despite public regret over the nuclear shutdown, Germany’s unique energy transition path faces challenges due to the slow and costly nature of new nuclear ..read more
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U.S. coal-fired electricity generation decreased in 2022 and 2023
Peak Oil
by admin
2w ago
Data source: U.S. Energy Information Administration, Hourly Electric Grid Monitor Note: The chart series reflects the average electricity generation from coal for a given hour across one year; the data are reported in 24-hour increments for the U.S. Lower 48 states, based on local time. Electricity generation from units that primarily consume coal in the ..read more
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Is It Time To Abandon the Idea of Phasing Out Oil and Gas?
Peak Oil
by admin
2M ago
Despite feigning interest, Big Oil still appears to oppose the global green transition and could well stand in its way. As Saudi’s state oil company leader condemns the green transition and calls for long-term oil production, other major industry players are voicing their scepticism around renewable energy and clean tech. Despite large investments into green ..read more
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More than 20% of global refining capacity at risk of closure
Peak Oil
by admin
2M ago
Recent analysis by Wood Mackenzie finds that, based on forecasted 2030 net cash margins, 121 out of 465 screened refineries are at some risk of closure. This represents a cumulative 20.2 million b/d of refining capacity, or 21.6% of global 2023 capacity. The future viability of refinery facilities will be dependent on a combination of ..read more
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Charles Hugh Smith Blog: Fire, Then Ice Our Deflationary Future
Peak Oil
by admin
2M ago
Lest you weep for those whose phantom wealth will be drained away, recall that few win when a reserve currency dies. Labor can start earning the day after the reset, but the capital lost is gone for good. Outside the “everything’s always fine” echo-chamber, the consensus is that easily created fiat currencies will all evaporate as ..read more
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Saudi Aramco CEO Amin Nasser says energy transition strategy ‘visibly failing’
Peak Oil
by admin
2M ago
Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday. “In the real world, the current transition strategy is visibly failing on most fronts,” Saudi Aramco Chief Executive Amin Nasser said at the CERAWeek conference in ..read more
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100 million-degree ‘artificial sun’ sets new records in hunt for energy’s ‘Holy Grail’
Peak Oil
by admin
2M ago
Scientists in Korea have sustained plasma at temperatures seven times hotter than the sun for longer than ever before after upgrading a key component, an advance that could provide invaluable data for an international fusion mega-project planned to launch next year. The Korean ‘artificial sun’, known as KSTAR, sustained the plasma at temperatures of 100 ..read more
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