Far from saving the whales, it was oil that nearly obliterated them, and may yet still do so. The real lessons to be drawn from the history of whaling are more interesting and more complex than the oil salvation narrative.
With global demand having fallen by about 29 million barrels per day from a year ago, it seems like this pandemic might delay peak oil production while the pandemic and consequent depression lasts, since so much less oil is being consumed.
1. Oil and the Global Economy
2. The Middle East & North Africa
One of the most compelling charts I have ever seen is the “Growing Gap” chart that used to appear on the front page of every ASPO Newsletter.
On the surface, things appear normal but beneath the lid, a pot of trends is coming to a boil.
Oil production can be confusing because there are various “pieces” that may or may not be included. In this analysis, I look at oil production of the United States broadly (including crude oil, natural gas plant liquids, and biofuels), because this is the way oil consumption is defined.
A person often reads that low oil prices–for example, $30 per barrel oil prices–will stimulate the economy, and the economy will soon bounce back. What is wrong with this story? A lot of things, as I see it…
A weekly roundup of peak oil news, including: -Quote of the week -Oil and the global economy -The Middle East and North Africa -China -Russia/Ukraine -The Briefs
A midweek update. Oil prices rose a couple of dollars on Monday and Tuesday as traders decided that there must be an end to steady price drops somewhere.
A weekly roundup of peak oil news, including: – Quote of the Week -Oil and the Global Economy -The Middle East and North Africa -China -Russia/Ukraine -Climate Talks -The Briefs
A midweek update. There were a lot of surprises in this week’s US stocks report.
A weekly roundup of peak oil news, including:-Quote of the week -Oil and the global economy -The Middle East and North Africa -China -Russia/Ukraine -Climate Conference -The Briefs