Middle East

Cal on February 23rd, 2017

China’s current Five-Year Plan envisions building seven new nuclear reactors a year between 2016 and 2020. China currently has 36 nuclear reactors in operation, 21 under construction and more waiting to start. There were only 174 crude oil and natural gas discoveries worldwide last year, compared to an average of 400-500 per year up until […]

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Cal on February 15th, 2017

Despite having only 20% of the world’s shale oil and gas resources, advantages in the US and Canada mean these countries will continue to dominate the market, according to a new Raymond James report. While abundant shale resources exist in several countries around the world, a variety of hurdles preclude their development, including technical know-how, regulatory barriers and […]

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Cal on January 14th, 2017

In 2015 humans used about 575 quadrillion Btu (British thermal units) of energy, according to the US Energy Information Administration. (575 followed by 15 zeros; a Btu is roughly the energy released in a single match.) With a global population of 7.3 billion, that worked out to 78 million Btu per person that year. Nearly 40% of all […]

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Cal on December 28th, 2016

Russia supplied a third of Europe’s natural gas needs in 2016, a record amount despite tensions with the European Union and a desire by the EU to reduce its dependence on Russian supplies.  In 2015, Russia supplied 31% of European gas supplies. The EU imports around 50% of its natural gas needs, but it has become increasingly concerned about Gazprom’s role as […]

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Cal on December 12th, 2016

OPEC and non-OPEC crude oil exporters have agreed to an additional 562,000 barrels per day of non-OPEC production cut in addition to the 1.2 million b/d cut that OPEC agreed on last week. At the meeting, Mexico pledged to cut 100,000 b/d, Azerbaijan 35,000 b/d, Oman 40,000 b/d, and Kazakhstan 20,000 b/d. Some analysts expressed doubt […]

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Cal on December 6th, 2016

Here is oil observer Tom Whipple’s take on the OPEC agreement this past week to cut back crude oil production in an effort to raise world oil prices: The total cut by OPEC members is supposed to be 1.2 million barrels per day (b/d) to which a non-OPEC cut of 600,000 b/d, including Russia’s 300,000 b/d, […]

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Cal on December 3rd, 2016

Scientists from the UK’s University of Bristol have developed a lab-made nuclear diamond that can generate electricity and is made from radioactive waste. The diamond battery has an incredible lifetime, and will only be half used up by the year 7746.  As most people know, a severe downside of the nuclear fission process is the creation of dangerous radioactive waste, which […]

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Cal on November 30th, 2016

OPEC members agreed today to cut back on their crude oil production.  This is the cartel’s first cuts in eight years. OPEC accounts for a third of global crude oil production. OPEC will reduce production by 4.5% or by 1.2 million barrels a day (b/d) to 32.5 million b/d. However, Iran will be allowed to increase production. The […]

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