IEA executive director Fatih Birol gave his renewable energy “I Have a Dream” speech this week. In an opinion editorial in The Financial Times, Birol channeled American civil rights prophet Martin Luther King’s 1968 rhetoric as he proclaimed that “The world is on the cusp of a historic turning point…Demand for each of the three fossil […]
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Stanford climate scientist and ecologist Chris Field talked with podcast host Sam Harris last week. He was quite good through most of this episode called Sanity Check on Climate Change: A Conversation with Chris Field until he said, “A few years ago, it was really unclear how we would bring emissions of carbon dioxide especially […]
The IMF’s media release on fossil fuel subsidies is a big lie. The International Monetary Fund (IMF) claimed that 2022 fossil fuel subsidies were $7 trillion in its IMF Fossil Fuel Subsidies Data: 2023 Update released last week. Although the report implied that much of this was not money given directly to fossil fuel companies, […]
Mainstream oil analysts have bombed on their two big calls for 2023. The first call was for oil prices to soar as China’s economy and oil demand recovered after Covid lockdowns. That idea went down in flames several months ago. It was replaced by a call for prices to soar as global oil supply fails […]
You are unauthorized to view this page. Want access to this page? Select a plan here Username or E-mail Password * Remember Me Forgot Password The post The Future of Oil first appeared on Art Berman. The post The Future of Oil appeared first on Art Berman.
Climate change is as obvious as gravity. The only people who debate gravity have advanced degrees in theoretical physics. Almost everyone in America—regardless of training or experience—has a strong opinion about climate change for some reason. Cognitive dissonance is part of the problem. This is what happens when two strongly held beliefs conflict. Most Americans believe […]
Warren Buffet is bullish on oil and gas. He recently committed more than $3 billion to an LNG export terminal in Maryland after increasing his stake in Occidental Petroleum. That’s because Buffet is a value investor and energy stocks are relatively cheap. Energy also generates more cash than any other sector. Why doesn’t the market […]
Mainstream analysts feel vindicated. After three months of reprising the incredibly tight market meme, WTI has finally increased into the mid-$70 range (Figure 1). Is this the beginning of the oil price’s march to $100 or just another little rally? Figure 1. Over-bought WTI futures come down to earth. Price has increased +$7.03 (+10%) from […]
Net Zero is a naive and unscientific fantasy. The silver bullet is decoupling. Decoupling or the energy intensity of GPD means that it takes progressively less energy consumption to produce a dollar of GDP because of improved efficiency. The net zero dream includes the counter-factual delusion that GDP and energy consumption can continue to increase […]