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The biggest crises of modern days has so far been the Yom Kippur War with a total loss of 5 million mmb/d resulting in a 350% increase in the price of oil 6 months following, should the Libyan crisis escalate and impact even half of Saudi production.
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"And energy is what keeps this game going. We are involved in a Faustian bargain—selling our economic souls for the luxurious life of the moment, but sooner or later the price has to be paid...sucking on an empty straw!"
Did anyone out there anticipate that 2011 would be such a wild year? The year is barely over two months old and we have already seen multiple civil wars erupt, rumors of more wars all over the mainstream media (potentially even including the US)...
In a not so surprising turn of events, adverse Libyan newsflow has picked up just as expected, with Reuters reporting that the Oil facility at Zueitina, south of Benghazi, is now damaged and oil wells are now on fire, and that a Libyan rebel convoy i
According to Dan Nocera, the Future is "Really not that Bad". If you take his advice, that is... (which he says you won't).
Entered By: Ed Vallejo
The shock from higher oil prices can have some near term impacts but it also works with a lag of about a year. For instance, he points out that the personal saving rate typically declines as consumers respond to gasoline price spikes.
Think of it as fuel for a fuel cell; just add water.
The Middle East protests have fueled more than just a change in Democracy; it looks like these political outbursts will affect the gas pump as well.
Charming fellow that he is, his fecklessness in the face of disintegrating oil markets will go down in history as something like Nero's musical solo while Rome burned down.
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"The cheap oil age created an artificial bubble of plentitude for a period not much longer than a human lifetime....so I hazard to assert that as oil ceases to be cheap and the world moves toward depletion....We are SO unprepared for our future."
Joule Unlimited has invented a genetically-engineered organism that it says simply secretes diesel fuel or ethanol wherever it finds sunlight, water and carbon dioxide. The Cambridge, Mass.-based company says it can manipulate the organism to prod
A new breakthrough study analyzing the oil reserves contained under Alaska’s Outer Continental Shelf (OCS) reveals that the state could be the eighth largest oil producer in the world. The amazing data meticulously compiled by the authors—the consult
At one point the price of Brent Crude spiked on the London market, hitting $119.79 a barrel – $8.54 higher than when trading started yesterday morning.
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“Oil is a finite resource!” said Brent. “Eventually the oil remaining on the planet will be exhausted and no longer able to be used by humanity.
A few days ago, 98 percent of Southern Sudan voted for independence from the North. This is an offshoot of the 2005 Bush sponsored peace treaty, which will be effective on July 9, 2011. Sudan is the largest country in Africa and has suffered throu
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In plain words: alternative energy won’t cut it when oil runs out by mid century. It will become prohibitively expensive long before 2050.
A newly engineered yeast strain can simultaneously consume two types of sugar from plants to produce ethanol, researchers report. The sugars are glucose, a six-carbon sugar that is relatively easy to ferment; and xylose, a five-carbon sugar that has
As the Guardian reports on 4 just declassified cables, "The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.
A new bridge concept incorporates wind and solar energy into its design, generating 40 million kilowatt-hours per year — and looking pretty slick to boot.
Eric Jacqmain, from Indiana in the US, covered an ordinary fibreglass satellite dish with 5,800 tiny mirror tiles - and made his very own 'death ray'.
Andrea Rossi has announced that he has a commercial ready cold fusion reactor that is safe and reliable, capable of producing 10 kW of heat; and is in process of going into production, with a 1 MW plant being built ganging 125 of these units together
In a bold plan to bring clean, dependable energy to remote coastal communities, the government of France has given the green light to an innovative nuclear power program. France revealed its new nuclear policy on January 20, 2011. The French company,
Jim Rogers: Justin, the price of oil is going to make new highs. It will go over $150 a barrel. It will probably go over $200 a barrel.
we suddenly have a configuration that exploits the phenomena and in fact produces a massive amount of heat. The clear existence of gamma rays supports a nuclear process of some sort that we have been unable to define, not least because the actual ev
A new study claims that 100 percent renewable energy can be achieved in America by 2030. No new technology needs to be created, claims Mark Delucchi, one of the authors of the study appearing in the journal Energy Policy. According to the data the te
In 2007, the U.S. Congress passed the Energy Independence and Security Act which contains a subsection that bans the sale of incandescent light bulbs beginning in 2012.
World-revered trends research expert says: "We're going to see ... an energy revolution. ...We're going to be releasing more information in Trends Journal about breakthroughs in new energy that could shift the whole game. It may be as big as the disc
Before the average electric car can travel 500 highway miles on a single charge, we’ll need better batteries than the lithium-ion packs used today. Last week, when Toyota told the press that it was working on a magnesium-based electric-car battery
We are slowly becoming owned by foreigners. We are slowly being transformed into paupers in the land our forefathers conquered.
It's amazing how a little publicity and $90-a-barrel oil can help a stock go from "bad to less bad."
