U.S. Streaks Past Saudi Arabia as Worlds Largest Oil Producer
The United States surpassed all other countries this year with daily crude oil and other petroleum liquids reaching 11 million barrels per day (mbd). Since the beginning of 2011, U.S. liquid fuels grew by more than 4 mbd, including 3 mbd of crude oil. The growth of U.S. production has been the “main factor counterbalancing the supply disruptions on the global oil market” and “has contributed to a decrease in crude oil price volatility since 2011”, according to the U.S. Energy Information Agency (EIA).
Oil supply and demand shuffled as new tight shale makes impact felt
North Denver News
World markets for petroleum and other liquid fuels have entered a period of dynamic change—in both supply and demand. Potential new supplies of oil from tight and shale resources have raised optimism for significant new sources of global liquids. The changes in the overall market environment have led the U.S. Energy Information Administration (EIA) to focus on reassessing long-term trends in liquid fuels markets for the 2014 edition of itsInternational Energy Outlook (IEO2014).
Is the Shale Revolution a Ponzi Scheme or the End of Peak Oil?
Rising prices at the beginning of the 21st century did, in fact, promote more exploration and faster technological progress, resulting in the shale revolution the U.S. is currently enjoying. If this dynamic is not unduly hampered, its a good bet that the prophets of bubble-bursting doom are wrong yet again. (Also see: www.shalebubble.org)
Reliance looking to sell US shale gas interest
Reliance Industries is looking to sell its 45 per cent stake in the Eagle Ford basin shale oil and gas venture in the US for an estimated USD 4.5 billion. RIL, which bought 45 per cent interest in Pioneer Natural Resources Cos Eagle Ford shale formation of south Texas for USD 1.3 billion, is working with Citigroup Inc and Bank of America Merrill Lynch to find a buyer, industry sources said.
Energy Expert Interview Series: Bill Reinert
Big Picture Agriculture
Bill Reinert was national manager of Toyota Motor Sales U.S.A. Inc.’s advanced-technology group for the past 15 years prior to his retirement in 2013. A staunch environmentalist, he helped establish a global model for cleaner energy use in the Galapagos Islands in conjunction with the WWF. As a futurist, and a leading global expert on energy and transportation trends, he helped to found the annual “Meeting of the Minds” events which focus on future smart urban planning, transportation, and energy use.
World War III: Its here and energy is largely behind it
Kurt Cobb, Resource Insights
Ive been advancing a thesis for several months with friends that World War III is now underway. Its just that its not the war we thought it would be, that is, a confrontation between major powers with the possibility of a nuclear exchange. Instead, we are getting a set of low-intensity, on-again, off-again conflicts involving non-state actors (ISIS, Ukrainian rebels, Libyan insurgents) with confusing and in some cases nonexistent battle lines and rapidly shifting alliances such as the shift from fighting the Syrian regime to helping it indirectly by fighting ISIS, the regimes new foe.
Peak oil is here: the view from Barbastro
Ugo Bardi, Resource Crisis
Two days of conference in Barbastro were a hard reminder that oil is still the most important resource in the world. At the conference, a number of impressive speakers lined up to show their data and their models on peak oil. Antonio Turiel, Kjell Aleklett, David Hughes, Gail Tverberg, Michael Hook, Pedro Prieto. From what they said, it is clear that the future it is not any more a question of arguing about resources and reserves, lining up barrels of oil as if they were pieces to be played on a giant chessboard. It is not any more a question of plotting curves and extrapolating data. No: it is more a question of money. We are not running out of oil, we are running out of the financial resources needed to extract it.
The Thermodynamic Theory of Ecology
John Harte, a professor of ecology at the University of California, Berkeley, has developed what he calls the maximum entropy (MaxEnt) theory of ecology, which may offer a solution to a long-standing problem in ecology: how to calculate the total number of species in an ecosystem, as well as other important numbers, based on extremely limited information — which is all that ecologists, no matter how many years they spend in the field, ever have.