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Cal on June 21st, 2017

The International Energy Agency foresees the global oversupply of crude oil continuing through 2018. The driver is US shale oil production which will grow by 430,000 barrels per day this year and 780,000 next year. Total non-OPEC production including the US is forecast to grow by 1.5 million b/d next year. With global inventories currently […]

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Cal on June 15th, 2017

Globally, more people live in urban areas than in rural areas, with 54% of the world’s population residing in urban areas in 2014. By 2050, 66% of the world’s population is projected to be urban. About half of urban dwellers reside in relatively small settlements of less than 500,000 inhabitants, while nearly one in eight live […]

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Cal on June 13th, 2017

Last year, for the 5th straight year, the US was the world’s largest producer of petroleum and natural gas hydrocarbons. US hydrocarbon production in energy content terms is almost evenly split between petroleum and natural gas. US crude oil production will, for the first time in nearly 50 years, climb to 10 million barrels per day […]

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Cal on June 9th, 2017

  Earlier this month Swiss company Climeworks began operating the world’s first carbon capture plant—a machine designed to remove carbon dioxide from the atmosphere. The company hopes to capture 1% of the global carbon dioxide produced by burning fossil fuels by 2025. The company estimates that the plant will remove some 900 tons of CO2 from the atmosphere every year. Located […]

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Cal on June 3rd, 2017

Oilprice makes the case that China, not OPEC, now sets the level of world oil prices. OPEC is working hard to try to keep world crude oil prices high as their members need the oil revenues to finance the increasing demands on government expenditures. But China is the largest crude oil importer in the world and […]

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Cal on May 31st, 2017

The World Economic Forum said that employees should continue working until 70 in nations such as the UK, US, Japan and Canada. The age increase will be needed, as the number of people over 65 will more than triple to 2.1 billion by 2050. By then, the number of workers per retiree will have halved […]

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Cal on May 30th, 2017

A consortium of 11 Japanese firms (including Honda, Nissan, and Toyota) have signed a memorandum of understanding to expand the hydrogen fuel-cell market in Japan faster than has been the case so far. Other firms involved include JXTG Nippon Oil & Energy, Tokyo Gas, Development Bank of Japan, Idemitsu Kosan, Toho Gas, Air Liquide Japan, Toyota Tsusho Corporation, and Iwatani […]

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Cal on May 28th, 2017

The world’s largest oil producers agreed this week to continue to hold back oil production for another nine months in a bid to raise sluggish world crude oil prices. The deal was agreed between members OPEC and non-OPEC producers including Russia. The participants said they would continue to make cuts of 1.8 million barrels of crude oil a day until March […]

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