Peak Oil

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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Cal on December 8th, 2015

The Peak Oil Barrel website has an analysis showing global crude and natural gas liquids production will decline from about 86 million barrels per day this year to about 78 million b/d ten years from now. Production will fall away between 2023 and 2025 as there would no longer be enough affordable crude oil to […]

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Cal on June 30th, 2015

“I am now more convinced than ever that 2015 will see the peak in world crude oil production. I have very closely studied the charts of every producing nation and my prognosis is based on that study. I see many nations in steep decline and most every other nation peaking now, or in the last […]

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Cal on December 16th, 2014

“The world has such an improved outlook for crude oil supplies. Peak oil theorists have been run out of town by American ingenuity.” — Bill Colton, Exxon’s chief strategist

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Cal on December 1st, 2014

The current official cost for ITER (the International Thermonuclear Experimental Reactor) is at least €13 billion (US$16 billion), compared with an initial estimate of €5 billion, However, many in the nuclear community believe this latest figure is likely to be an underestimate. A collaboration between the European Union, China, India, Japan, South Korea, Russia and […]

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