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US OIL PRODUCTION DECLINE UNDENIABLE

Those “drill baby drill” fanatics who still insist America is on the smooth road to energy independence might want to pump the brakes just a bit. A look at the latest report by the US Energy Information Administration shows US oil production is down over one million barrels per day since its June 2015 peak of 9.6 million. As of September 9, …

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Gail Tverberg – An Updated Version Of The “Peak Oil” Story

The Peak Oil story got some things right. Back in 1998, Colin Campbell and Jean Laherrère wrote an article published in Scientific American called, “The End of Cheap Oil.” In it they said: Our analysis of the discovery and production of oil fields around the world suggests that within the next decade, the supply of conventional oil will be unable to keep …

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Howard Kunstler -“There Is A Special Species Of Idiot At Large In The Financial Markets”

There is a special species of idiot at large in the financial media space who believe absolutely in the desperate and tragic public relations bullshit that this society churns out to convince itself that the techno-industrial high life can continue indefinitely, despite the mandates of reality – in particular, the fairy tales about oil: we’re cruising to energy independence… the …

cost of oil

Putting The Real Story Of Energy And The Economy Together – Gail Tverberg

What is the real story of energy and the economy? We hear two predominant energy stories. One is the story economists tell: The economy can grow forever; energy shortages will have no impact on the economy. We can simply substitute other forms of energy, or do without. Another version of the energy and the economy story is the view of …