by Andrew Follett, July 7, 2017
Saudi Arabia has lagged the U.S. in oil production for the last four years, according to federal data compiled by University of Michigan economist Mark Perry.
Perry created a chart Saturday showing just how far behind Saudi oil production has trailed U.S. production. Rising U.S. production combined with OPEC policies drove crude oil prices down to new lows. Monday, a barrel of oil costs $46.26, while the same barrel would have sold for $109.04 in June 2014.
by A. Williams et al., July 13, 2017 in Bloomberg
On Wednesday, Premier Oil Plc, Sierra Oil & Gas and Talos Energy LLC announced the first Mexican discovery by explorers other than state-owned Pemex in 80 years, a reservoir with an estimated 1.4 billion to 2 billion barrels
by International Energy Agency (iea), July 11, 2017
Global energy investment fell by 12% in 2016, the second consecutive year of decline, as increased spending on energy efficiency and electricity networks was more than offset by a continued drop in upstream oil and gas spending, according to the International Energy Agency’s annual World Energy Investment report.
Global energy investment amounted to USD 1.7 trillion in 2016, or 2.2% of global GDP. For the first time, spending on the electricity sector around the world exceeded the combined spending on oil, gas and coal supply. The share of clean-energy spending reached 43% of total supply investment, a record high.
by Connaissances des Energies, 17 février 2015
Les cinq pays disposant des plus importantes réserves de gaz au monde sont :
l’Iran : 33 800 milliards de m3 de réserves prouvées à fin 2013 (soit 18,2% des réserves mondiales) ;
la Russie : 31 300 milliards de m3 de réserves prouvées (16,8%) ;
le Qatar : 24 700 milliards de m3 de réserves prouvées (13,3%) ;
le Turkménistan : 17 500 milliards de m3 de réserves prouvées (9,4%) ;
les États-Unis : 9 300 milliards de m3 de réserves prouvées (5%).
by David Middleton, July 10, 2017 in WUWT
Hubbert’s fame in peak oil circles comes primarily from the assertion that he accurately predicted the 1970 U.S. peak. Because of this prediction, Hubbert is widely-regarded among peak oil adherents as a visionary. He has been called an oracle and a prophet. A recently published article — What Hubbert And Pickens Got Right About Oil, And What’s Next — recounts the uncanny accuracy of his prediction.
Source: Nuclear Energy and the Fossil Fuels by M. King Hubbert
by Jamal Munshi, July 5, 2017 in SSRN
The IPCC carbon budget concludes that changes in atmospheric CO2 are driven by fossil fuel emissions on a year by year basis. A testable implication of the validity of this carbon budget is that changes in atmospheric CO2 should be correlated with fossil fuel emissions at an annual time scale net of long term trends. A test of this relationship with insitu CO2 data from Mauna Loa 1958-2016 and flask CO2 data from twenty three stations around the world 1967-2015 is presented. The test fails to show that annual changes in atmospheric CO2 levels can be attributed to annual emissions.
by Ben Wolfgang, July 5, 2017, in The Washington Times
The biggest critics of President Trump’s decision to withdraw from the Paris climate accord are also the world’s biggest hypocrites on energy policy, top environmental groups charged Wednesday in a report that found many top nations’ rhetoric on cutting emissions doesn’t line up with how and where they spend their money.
The key finding: The G-20 nations spend roughly four times as much in public financing for fossil fuels as they do supporting renewable energy sources such as wind and solar. The report examines loans, grants, guarantees, insurance and other types of public finance offered either by the governments, government-owned financial institutions and credit agencies, and multilateral groups made up of G-20 countries.
by Kenneth Richard, June 29, 2017 in NoTricksZone
For the last 3 years, human CO2 emissions rates have not risen. In fact, according to the IEA, we burned slightly more fossil fuels in 2014 than we did in both 2015 and 2016.
Despite the lack of growth – even slight decline – in human emissions rates during 2014 – 2016, the atmospheric CO2 parts per million (ppm) concentration grew rapidly – by more than 8 ppm (397 ppm to 405 ppm).
by Andrew Follett, June 28 in ClimateChangeDipatch
The study found that dispersants broke up the oil into tiny droplets, making them less buoyant and unable to float to the surface. This meant that the oil formed a layer deep below the surface of the water, making it easier for microbes that live in the deep ocean to eat it. However, scientists weren’t able to measure the exact amount of oil eliminated by the microbes.
Due largely to these oil-eating bacteria, the Gulf of Mexico recovered from the Deepwater Horizon oil spill faster than scientists thought possible and has returned to pre-spill levels of environmental health.
by AFP/UKnews, June 21, 2017
Norway on Wednesday proposed to open up a record number of blocks in the Barents Sea to oil exploration despite protests from environmentalists and others fearing possible damage to the Arctic region.
The Norwegian oil and energy ministry offered oil companies 93 blocks in the Barents Sea and nine others in the Norwegian Sea, all located beyond the Arctic Circle.
