Contrary to what most people believe, oil supply capacity is growing at such an unprecedented level that it might soon outpace consumption. This could lead to overproduction and a steep dip in oil prices. That is the startling conclusion from Leonardo Maugeri, a former senior executive with Italian oil giant ENI, who is currently a … Read More
Sometimes all you have to do is join the dots. Letâs take three different headlines from yesterday, which are all from the Guardian newspaper in the UK. Headline number one: â’Golden age of gas’ threatens renewable energy, IEA warnsâ The article went on to state: âA âgolden age of gasâ spurred by a tripling of … Read More
Thanks to The Checks and Balances Project for this cross post and Headwaters Economics for the study. When you fill up your tank for vacation this summer, keep in mind that the dial at the pump is spinning faster than you think. In addition to what you pay at the pump, your tax dollars are … Read More
It is not so long ago that âfrackingâ moved from a term used by the oil industry to enter the mainstream collective consciousness, as the technique spread like a cancer across America. Fracking is the process by which oil companies pump a mixture of sand, water and chemicals under high pressure to release gas. It … Read More
Members of Congress have taken almost $16 million from the oil, gas and coal industries so far in this 112th Congress. That puts this Congress on track to be the dirtiest ever. The information comes to light as part of the latest update of DirtyEnergyMoney.com, a project of Oil Change International which uniquely refines and … Read More
And so it goes on. Any regular reader of this blog will know that the good old boys at the American Petroleum Institute (API) often pluck magic figures out of the air to over-inflate the importance of the oil and gas industry to the economy. They also often distort key debates on offshore drilling and … Read More
The respected chief economist of the IEA, Fatih Birol, has warned that the world will become increasingly reliant on shale gas and oil from Iraq in the coming decades. In part to help stave off the growing public backlash against shale gas, the IEA is preparing, along with a number of governments, a set of âbest … Read More
As the International Energy Agency warns that world oil markets face a âbumpy rideâ in the months ahead, Barack Obama has being trying to defend his energy policies. His defence comes at a time when rising gas and energy production prices look increasingly likely to be become a key election issue in November, with his … Read More
It has been mentioned often that the mining of tar sands in Alberta, Canada can be seen from space. Recent composite images from the Air Force’s Meteorological Satellite, brought to our attention by the great work at Skytruth.org, show another new form of North American oil production and its extensive reach and impact. The red area in the image is … Read More
The hype surrounding the US gas industry continues to grow as America moves ever closer to its cherished dream of energy independence. Yesterday, Bloomberg reported that âthe U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo … Read More
