peakoil.comPeak Oil News and Message Boards  |  Exploring Hydrocarbon Depletion

Exploring Hydrocarbon Depletion Peak Oil News Submit News PO Forums Forum Posts Guest View Forum Posts Member View What is PO? About Us Search Username Remember Me Password Lost your password? Register Peak Oil is You Donate Bitcoins ;-) or Paypal :-) Peak Oil News and Message Boards Welcome to PeakOil.com, an online community exploring oil depletion. Everything Is About To Get More Expensive. This Is Good With America already experiencing the beginnings of an inflation wave that may spiral out of control as a result of trillions in money printing the media is trying to get ahead of the story by claiming that everything becoming more expensive "is good." It's important not to alarm the cattle before they're processed. pic.twitter.com/aMDUDyZj8V — Battle Beagle (@HarmlessYardDog) March 1, 2021 From Business Insider, "Everything is about to get more expensive. It's a crucial next step for the US economic recovery.": - The US economy is headed for a rebound, but it'll make things more expensive for Americans. - Experts say the economy won't overheat, but more demand for things like homes and gas will mean higher prices. - This is good; inflation like this is a sign of a return to normal and a healthy economic recovery. Last month, the New York Times told us "critical ... Why Collapse Occurs; Why It May Not Be Far Away Collapse is a frightening subject. The question of why collapse occurs is something I have pieced together over many years of study from a number of different sources, which I will attempt to explain in this post. Collapse doesn’t happen instantaneously; it happens many years after an economy first begins outgrowing its resource base. In fact, the resource base likely declines at the same time from multiple causes, such as soil erosion, deforestation and oil depletion. Before collapse occurs, there seem to be warning signs, including: Too much wage disparity Riots and protests by people unhappy with low wages Prices of commodities that are too low for producers that need to recover their costs of production and governments that require tax revenue to fund programs for their citizens An overstretched financial system; conditions ripe for debt defaults Susceptibility to epidemics Many people ... Don’t Believe the US Energy Independence Hype The U.S. is energy independent, right? Well, that’s what some politicians would have you believe, but it’s not really true in any meaningful sense of the word “independent.” In its broadest sense, energy independence can be taken to mean that the country produces more energy than the country consumes. That is the basis on which politicians make the claim, but it conceals a whole host of mutual dependencies with foreign states that cannot be ignored. I would argue that the situation is more accurately described as self-sufficiency rather than true independence. In 2019, the U.S. produced more primary energy (principally oil, natural gas, coal, biofuels and some electricity) than it consumed. It was the first time the country had done so since the 1950s, and it’s on that fact that claims of energy independence hang. Energy Independence? In 2019 the U.S. produced more energy than it used for the first time since ... Globalist Weather Wars To Crush Humanity The next big threat to humanity will be the manipulated weather crisis. Infowars.com Israel’s Gantz Says Iran Could Be Behind Blast On Israeli-owned Ship Israeli Defence Minister Benny Gantz said on Saturday he believes Iran is behind an explosion earlier this week on an Israeli-owned vessel in the Gulf of Oman. The MV Helios Ray, a vehicle carrier, was travelling from the Saudi port of Dammam to Singapore when the blast occurred on Thursday, according to the Dryad Global maritime security group. "The location of the vessel, relatively close to Iran at the time, raises the belief that Iran was responsible, but it must still be verified," Gantz told Israeli state television Kan. "This is an initial assessment that takes into account the proximity (with Iran) and the context" in which the blast occurred, he added. "This is what I believe." Rami Ungar, an Israeli businessman who owns the Helios Ray, told Kan on Friday that the explosion did not cause any casualties among the crew or damage to ... Oil at $100?: Supercycle predictions divide veteran traders Two of the biggest banks on Wall Street are calling a new “supercycle” in oil, with JPMorgan Chase and Goldman Sachs both predicting prices will soar when the pandemic abates. The most bullish forecast has international crude prices staging a comeback towards the US$100-a-barrel region — a level not reached since 2014. The expected surge is predicated on the belief that fiscal stimulus will boost consumption just as investment in new production has been sucked out of the industry. Such a disconnect between demand and supply, fuelling a lasting surge in prices, are the basic conditions of a so-called supercycle. Oil at $100?: Supercycle predictions divide veteran traders It would transform conditions in the oil sector, which was hammered last year by the COVID-19 hit to demand and doom-laden predictions about what the widespread embrace of electric vehicles will mean for the market. “We’re ... China’s Oil Reserves Near Limit China's crude oil reserves have reached a level equal to 100 days of imports, Bloomberg has reported, citing unnamed sources in the know, which is near the country's storage capacity limits. The amount includes both strategic and commercial inventories, the Bloomberg source said. Data compiled by oil data analytics company OilX (that is powered by local insights from SIA Energy) shows Chinese storage at close to 1.1 billion barrels and has been growing again after a decline in December 2020, with massive imports during February 2021, OilX chief executive Florian Thaler told Oilprice.com. OilX also noted that the Chinese SPR has been full to the brim since October 2020 at around 380 million barrels. Some of the SPR effectively had to be going into leased commercial storage, the analytics firm said. China went on an oil-buying spree last year when international prices tanked to stock ... Biden Carries Out Air Strikes In Syria Targeting “Iranian-Backed” Militia You knew it was coming when the NYT set the stage yesterday with its latest anti-Assad hit piece titled "Having Won Syria’s War, al-Assad Is Mired in Economic Woes" (which makes only a passing reference just why Syria is mired in economic woes namely that "most of the country’s oil fields and much of its agricultural land are in the northeast, which is controlled by Kurdish-led forces backed by the United States") and sure enough, just over a month since his inauguration, Biden reminded the world that the military-industrial complex is back in control by carrying out air strikes in eastern Syria against facilities that allegedly were used by "Iranian-backed" militia, the U.S. Defense Department said on Thursday night. The strike marked the first (of many) overseas military attack ordered by Joe Biden, which in its first weeks has emphasized its ... For Energy Security, Power Is The New Oil detail of electric equipment in mountain getty By Mark Finley The deep freeze that afflicted the center of the US last week caused massive power outages in Texas and surrounding states. The plight of millions without power and heat captured the headlines and attracted world-wide attention. In the meantime, other energy-related disruptions triggered by the same weather events remained largely unnoticed, despite the fact that any of one of them would be on the list of biggest US energy disruptions ever: As much as 4 million barrels per day (Mb/d) of US oil production was shut-in, nearly 40% of domestic crude supply, with the Permian basin especially impacted; Nearly 6 Mb/d US Gulf Coast refining capacity was shut-in (roughly 30% of the national total); Up to 20 billion cubic feet per day of US natural gas production was shut-in (20% of total product...