Global oil demand will likely to recover to above pre-pandemic levels in the future despite some predictions that the crisis may have already triggered a structural decline in world oil Continue Reading
One big question emerging from the pandemic is whether it will speed up the global shift away from oil. Life under lockdown gave a taste of a world that burns Continue Reading
Both crude oil and overall fossil fuel demand may have permanently peaked in 2019 if a slower economic recovery from the coronavirus pandemic becomes reality, hastening the arrival of peak Continue Reading
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-U.S.$20 a barrel in this downturn Continue Reading
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas Continue Reading
We who have been suggesting that a peak in world oil production was nigh almost from the beginning of this century looked like we might be right when oil prices Continue Reading
By one oil consultancy’s estimate, Peak Oil will be here by 2028, or two years sooner than it previously had predicted, according to Reuters . That ceiling would be somewhere Continue Reading
We who have been suggesting that a peak in world oil production was nigh almost from the beginning of this century looked like we might be right when oil prices Continue Reading
Oil prices continue to rise on the prospect of a rebound in fuel demand as economies begin to reopen. But there is a large difference between oil demand rising from Continue Reading
Here I am again reporting on out of date US February oil production from the EIA April report after the world oil environment has been turned on its head. Fortunately Continue Reading
The Oil Age has powered the world for well over a century. There have been two general schools of thought about how it will ultimately end. There were those who Continue Reading
Italy’s Eni expects its oil production to start declining after 2025 under its new long-term strategy to rely on natural gas, renewables, and new technologies to cut net greenhouse gas Continue Reading
Highlights Sees gas making up about 85% of total production in 2050 Eni targets 80% cut in net GHG emissions by 2050 To convert all Italian refineries to biorefining sites Continue Reading
In spite of record increases in solar and wind energy development, human carbon emissions continue to rise because, over the last decade, fossil fuel use has grown ten-times faster than Continue Reading
Recently the IEA 2018 World Energy Outlook predicted an oil crunch could happen as soon as 2023. Oil supermajors are expected to have 10 years of reserve life or more, Continue Reading
Repsol has drilled oil wells in Libya Benjamin Lowy/Getty Images The world’s appetite for oil could peak within five years, according to one of Europe’s biggest oil and gas firms Continue Reading
A reader has written to me to say that she does not completely understand if we have a serious problem with oil or not, and I have written her a Continue Reading
The theory of “peak oil demand” was a techno-utopian response to the supposed debunking of the peak oil theory first set out by M. King Hubbert in the 1950s. Hubbert’s Continue Reading
The U.S. Department Of Energy Says More Oil, More Natural Gas Numerous energy headlines from this past week alone caught my attention. They perfectly illustrate the massive scale of investment Continue Reading
The global trend toward alternative energy sources and shifting stakeholder sentiments could mark the demise of the oil and gas exploration sector. It may also represent an opportunity to transform. Continue Reading
“At some point in the next 20 years, it’s likely we’re going to see oil demand peak. Our own view at Wood Mackenzie, is around 2035, 2036,” Wood Mackenzie chairman Continue Reading
Many different oil shock model scenarios have been presented over time at Peak Oil Barrel. Information on the Oil Shock Model, originally developed by Paul Pukite can be found in Continue Reading
Entrepreneurs in California were pioneers of the American oil industry in the 19 th and the beginning of the 20 th century. One of the oldest still producing oil fields Continue Reading
The era of oil is coming to an end, with global oil production set to halve in the next five to six years. To avoid a global economic slump, the Continue Reading
Interestingly, there are still peak oil advocates who think that we’ve reached peak oil now, despite the fact that shale oil production is still growing, OPEC+ has about 1.5 mb/d Continue Reading
The following OPEC charts were created with data from the OPEC Monthly Oil Market Report . All OPEC charts are through February 2019 and is in thousand barrels per day. Continue Reading
General Ideas Most people expect that our signal of an impending reduction in world oil or coal production will be high prices. Looking at historical data (for example, this post Continue Reading
A few years ago, especially in the 2005-2008 period, many people were concerned that the oil supply would run out . They were concerned about high oil prices and a Continue Reading
In a recent post , Antonio Turiel proposed that the global peak of diesel fuel production was reached three years ago, in 2015. Turiel’s idea is especially interesting since it Continue Reading
This year, international delegates gathered in Katowice, Poland for the thirty-second international climate meeting in 40 years. As they dithered over whether they should “welcome” or “note” the 1.5°C pathways Continue Reading
This is the first of three books that the late geologist Kenneth S. Deffeyes, who passed away a year ago this week, wrote about the coming global oil crisis. The Continue Reading
While the IEA got a lot of coverage for its World Energy Outlook 2018 (WEO 18), there might be a little snippet that got way underappreciated. On page 159 of Continue Reading
In March 1998, Scientific American published a paper titled “The End of Cheap Oil,” [ 1 ] signed by two petroleum geologists, Colin Campbell and Jean Laherrère. It was Continue Reading
The US shale oil revolution continues to defy the skeptics. The U.S. shale oil revolution continues to defy the skeptics, and the country is now producing a record 11 million Continue Reading
When M. King Hubbard concluded in 1956 that the world would shortly run out of oil, his theory was adopted by environmentalists and government meddlers as the basis for interference Continue Reading
The drumbeat towards peak oil demand is accelerating, but since much of the acceleration is happening outside of the United States, its cadence is muted. To be clear, the developed Continue Reading
“The sense of security more frequently springs from habit than from conviction, and for this reason it often subsists after such a change in the conditions as might have been Continue Reading
Following the dawn of the oil industry in the 1800s, demand for oil steadily grew. Initially driven by demand for kerosene as an illuminant, the world’s thirst for oil accelerated Continue Reading
The warning signs are there – the industry isn’t finding enough oil. Guyana is one of the very few giant oil discoveries made during the downturn. Fact is, we need Continue Reading
General Ideas The starting point for a generative discussion of the deep adaptation agenda is a difficult one. Because to begin to rigorously and imaginatively discuss this topic first requires Continue Reading
Adherents of the currently faddish demand side of “Peak Oil” theory (as opposed to the formerly faddish supply side, which was completely blown out of the water in recent years Continue Reading
World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil Continue Reading
Sometime in the next few weeks, global oil consumption will reach 100 million barrels per day (bpd) – more than twice what it was 50 years ago – and it Continue Reading
Russia is only three years away from maximizing oil extraction output before costs and taxes drive down production, Russia’s energy minister has warned. The Russian economy has relied on its Continue Reading
Russia’s oil production could peak as early as in 2021 due to high taxes and costs, provided there are no benefits for exploration or tax incentives introduced, Russian Energy Minister Continue Reading
Predicting the point at which the world reaches peak oil demand has become something of a cottage industry. The estimates range, but tend to fall somewhere around 2030 or later. Continue Reading
Global spending on energy, as proportion of economic output, is set to slow sharply because the world’s energy demand will decline from 2035 onwards, according to DNV GL’s Energy Transition Continue Reading
Since there’s nothing that can be done about climate change, because there’s no scalable alternative to fossil fuels, I’ve always wondered why politicians and other leaders, who clearly know better, Continue Reading
A COMPUTER MODEL developed in 1973 by a team of MIT researchers has predicted the “end of civilized life as we know it” by 2040, with a major change coming Continue Reading
The world’s biggest oil companies are systematically over-valuing their assets based on excessively optimistic forecasts of future prices, according to a leading investor. UK asset manager Sarasin & Partners has Continue Reading
