Another setback for Transocean
Rig company Transocean said it was delaying the delivery of two ultra-deepwater drillships to 2020 in an agreement with a shipyard company in Singapore. Transocean said it reached an agreement Continue Reading
What Oil Glut? Outages Put Supply, Demand Close to Balance
Oil-producing governments across the world are scrambling to address petroleum outages that have taken nearly 2 million barrels a day off the market and sent crude prices rallying. The outages Continue Reading
Oil bulls will be the losers as technology upends demand
The bullish camp, which includes Opec and EIA, has recently reinforced their $80/bbl target by 2020 based mainly on “battle for supply” (competition among oil producing nations and technologies) arguing Continue Reading
Hubbert’s Peak or Yergin’s Plateau?
In 1956, Shell geologist M. King Hubbert correctly predicted that oil production in the United States would reach a peak around 1970. Since his Peak Oil theory fits so well Continue Reading
North Dakota rig count at historic low
At 29, the rig count in North Dakota, the No. 2 oil producer in the United States, is at its lowest level in more than a decade, state data show. Continue Reading
Fossil Fuel Companies Need to Become Renewable Energy Companies
It seems clear that Exxon Mobil and other parts of the fossil fuel industry have tried to suppress the science of climate change. I am not surprised that these companies Continue Reading
A Personal Appreciation of M. King Hubbert
A recent vacation afforded me the opportunity to read The Oracle of Oil , Mason Inman’s excellent new biography of Marion King Hubbert. I strongly recommend it. But, rather than Continue Reading
200M Barrels Of Oil Sit In Idle Tankers Waiting To Unload At Chinese Ports
There is a new drama on the oil front: those who have it in excess can’t get it to those who want it—at least not quickly enough for everyone to Continue Reading
Barrel Breakdown
Cost of producing a barrel of oil and gas Average cash cost to produce a barrel of oil or gas equivalent in 2016, based on data from March 2016. The Continue Reading
Peak Oil: Are We Not Better Than This? Pt 3
We will have to transition to a post-fossil-fuel economy eventually, either out of wisdom or chaos [1] Discussions about the future of fossil fuel production and supply have to become Continue Reading