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Cal on April 28th, 2017

The Norwegian Petroleum Directorate reports that its latest estimates show that the undiscovered crude oil and natural gas resources in the Barents Sea are twice as large as previously thought. The Barents Sea could hold a total of 2.8 billion standard cubic meters of oil equivalents, equal to 17.6 billion barrels of crude. The Barents Sea is […]

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Cal on April 25th, 2017

Demographers have forecast that India may have the largest population in the world as early as 2022, surpassing China. The US Geological Survey reported that two formations in the Gulf Coast Basin might contain as much as 304.4 trillion cubic feet of natural gas plus 1.9 billion barrels of natural gas liquids, making the area the largest […]

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Cal on April 15th, 2017

The US has shut down 39 gigawatts (GW) of coal-fired electrical generation capacity since 2012 while the UK has closed 8.4 GW in the five years through 2015. (1 GW is the size of a typical nuclear power plant.) Construction on new coal plants fell by nearly two-thirds globally in 2016. US carbon emissions dropped 3% last year as cheap abundant natural […]

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Cal on April 11th, 2017

Fitch Ratings Agency is forecasting that global crude oil prices will average $52.50 this year, up from $45.10 in 2016. This figure is still believed to be below the breakeven point for most Middle Eastern oil exporters. Only Kuwait, which is said to have a breakeven point of $45 a barrel is well below the […]

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Cal on April 9th, 2017

New research by McKinsey & Co. and the World Economic Forum finds new sources of energy, mobility, and industry fragmentation are set to disrupt the world’s energy system. Within two decades, as many as 20 new energy sources could be powering the global economy, including fuel cells; small, modular nuclear-fission reactors; and even nuclear fusion. An economy based […]

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Cal on April 8th, 2017

On a global level, 2015 and 2016 marked the lowest level of new conventional crude oil discoveries since 1952. In 2016, only 3.7 billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2% of global proved reserves. Globally, exploratory drilling fell by almost 20% in 2015 and fell even […]

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Cal on April 6th, 2017

  The UK’s Transport Research Laboratory has commenced a driverless electric pod trial. (see photo above.) Over the next three weeks, roughly 100 people will ride the pod around a two-mile course in London’s North Greenwich to demonstrate how the technology could be used for “last mile” trips in urban areas. The shuttle is already in operation at London’s Heathrow […]

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Cal on April 5th, 2017

The International Energy Agency (IEA) said it does not expect a major increase in global crude oil prices despite the recent 1.8-million-barrel supply cut by OPEC and its allies. The IEA bases its judgment on the extraordinary size of the global oil glut, and the likelihood that any substantial price increase would bring more oil from the […]

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