Peak Oil

Cal on October 14th, 2017

A new study by the China University of Petroleum in Beijing says the Asian country is about to experience a peak in its total crude oil production as early as next year.  Without finding an alternative source of “new abundant energy resources”, the study warns, the 2018 peak in China’s combined conventional and unconventional oil will […]

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Cal on August 2nd, 2017

World crude oil consumption could peak as early as the end of the next decade as electric vehicles become more popular, according to Royal Dutch Shell’s CEO.  Yet crude oil will still be needed for decades to come as it is likely to remain the main transportation fuel for planes, ships and heavy trucks. US crude […]

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Cal on May 31st, 2017

Predictions for Peak Oil Demand  

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Cal on May 24th, 2017

Excerpted from the Wall Street Journal, May 21, 2017   Get Ready for Peak Oil Demand There’s a growing consensus that the end of ever-rising consumption is in sight. The big question that many oil companies are debating: When?   The world’s largest oil companies are girding for the biggest shift in energy consumption since […]

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Cal on April 1st, 2017

A new report from Wood Mackenzie finds the break-even cost for deep water oil and gas projects, the US Gulf of Mexico in particular, has dropped from around $70 per barrel to below $50 per barrel. The report estimates the average cost to develop deep water projects globally have dropped more than 20%. The cost reductions are being driving […]

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Cal on January 31st, 2017

Last week BP released its annual Energy Outlook report that surveys the prospects for the oil industry in the coming decades. The energy company sees the demand for energy growing into the 2040s but that the demand for crude oil will slow because of more efficient means of consumption and the increasing use of renewable and […]

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Cal on November 23rd, 2016

Canada announced plans to phase out coal-fired electricity plants by 2030. This is part of the federal government’s goal to have 90% of Canada’s electricity generated from sustainable sources by that date — up from 80% today. Since March of this year the US has been exporting liquefied natural gas (LNG) to the Middle East.  Cheniere Energy’s Sabine Pass complex in the southern […]

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Cal on November 19th, 2016

A giant oil field was found in the US state of Texas that holds 20 billion barrels of oil trapped in four layers of shale. This is about three times larger than the Bakken field in the state of North Dakota and the single largest US. unconventional crude deposit, according to the US Geological Survey.  The oil […]

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