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World Energy Outlook 2016 – Fatih Birol in Brussels

On 16 November 2016 the International Energy Agency (IEA) presented its annual ”World Energy Outlook” report (WEO-2016).

Donald Trump and the USA’s Growth and Indebtedness

During 2008 to 2015 the ratio of GDP growth to increase in debt sank closer to 1:1. This shows that the economic policy of the time was catastrophic. There was no capacity for increasing the wages of the middle class in the USA.

The Crash in the Price of Oil may Change the Oil Market – a Look at the IEA’s “Oil Medium-Term Market Report 2015”

On Tuesday 10 February at 13:00 GMT the IEA released its “Oil Medium-Term Market Report 2015”.

Peak oil: Challenges and opportunities for the GCC countries

At the beginning of January I was invited to give a presentation and participate in a panel discussion on Peak Oil. Maybe this is not such a huge surprise but what was surprising was that the invitation was to a symposium titled “Peak Oil: Challenges and Opportunities for GCC Countries” that is to be held in Doha, Qatar. The lead organiser of the meeting is the “Arabic and …

Comments on the hearing on “American Energy Security and Innovation”, February 5th, 2013

“Many small creeks make a large stream” is a Swedish saying that describes well the production of shale oil and shale gas. Equivalent English sayings are, “Many a little makes a mickle”, (that originated in Scotland and then President George Washington used in a text of 1793) and “Many drops make a river”. If one looks at a map of the Bakken showing only the …

Frozen frontiers for oil and gas explorations

The fact that the summer ice is declining in the Arctic means that there is now also the possibility to take ships northwest and northeast of Greenland (seen from Europe) and the famous Northeast Passage goes through Russian territorial waters. Some judge that the risk for conflict there will grow and there are those who love to propose conflict-scenarios between Russia and the USA. Conflict …

Comments on US Energy Secretary Chu’s plans to leave the DOE

The USA’s Secretary of Energy, the Nobel Prizewinner Steven Chu, has decided to leave Washington and return to California. His thoughts about his past four years as Secretary of Energy were given in a letter to the employees of the Department of Energy. Before we look a little more closely at that letter I would like to remind you that there were many of us who had great hopes when he …

Gas flaring at Bakken and Eagle Ford

Since the IEA presented its World Energy Outlook report of 2012 the world’s press has spread the news that the USA can become a larger oil producer than Saudi Arabia. They have also reported on increased production of shale gas. During recent years production of shale gas has increased so greatly that the price of natural gas has fallen to levels where it is no longer profitable to drill …

IMF and resource scarcity

During the past week the future of the world economy has been discussed in Davos, Switzerland. Below, I think it is appropriate to quote Christine Lagarde, the Managing Director of the International Monetary Fund (IMF). In her speech of 23 January she presented the following viewpoint: "The burning question is this: how we can make sure that all regions grow strongly, converge rapidly, …

U.S. rig count for oil and gas and future economic growth

Why is it interesting to study drilling rig statistics? The answer is that drilling rig activity indicates the future direction of the oil and gas industry.
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