The Brave New World of Ample Oil

By Tilak Doshi – Re-Blogged From WUWT

In the oil universe, the September 14th attack on Saudi Aramco’s oil facilities is comparable to the 9/11 attacks on the twin towers in New York City. Yet, the taking out of half of the Kingdom’s oil output led not to an oil shock but a whimper. Barely two weeks after the brazen attack, oil headlines were once again dominated by fears of over-supply and falling prices amidst a slowing global economy.  Following an initial 20% intra-day price surge after the attack, the benchmark Brent crude oil price quickly retraced its steps back down to pre-attack levels.

The US oil production surge benefits Asia

The shift from a perceived world of oil scarcity to abundance has been brought about in an astonishingly short period of time by the advent of the “fracking” revolution in the US. This combines horizontal drilling and hydraulically-fracturing shale rock with high-pressure liquids to extract “unconventional” oil and gas. In the past decade, US crude oil production more than doubled. By mid-2019, US production was rated at over 12 million b/d, surpassing Russian and Saudi Arabian output as the world’s largest.

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Weekly Climate and Energy News Roundup #385

The Week That Was: November 9, 2019, Brought to You by www.SEPP.org

By Ken Haapala, President, The Science and Environmental Policy Project

Quote of the Week: “It’s a kind of scientific integrity, principle of scientific thought that corresponds to a kind of utter honesty–a kind of leaning over backwards.

You must do the best you can–if you know anything at all wrong, or possibly wrong–to explain it. If you make a theory, for example, and advertise it, or put it out, then you must also put down all the facts that disagree with it, as well as those that agree with it. There is also a more subtle problem. When you have put a lot of ideas together to make an elaborate theory, you want to make sure, when explaining what it fits, that those things it fits are not just the things that gave you the idea for the theory; but that the finished theory makes something else come out right, in addition.”

“In summary, the idea is to try to give all of the information to help others to judge the value of your contribution; not just the information that leads to judgment in one particular direction or another.” – Richard Feynman, Cargo Cult Science

Number of the Week: Down 66%. From 1.9 billion to 650 million.

The Buck Stops Here: President Harry Truman (1945 to 1953) was not well liked by the eastern political establishment, either Republican or Democrat. He was considered ill-educated, crude, and ill-suited for the job. Yet he was well read in history. He was ill-prepared for assuming office on April 12, 1945 because President Roosevelt hid his illness and did not include Truman in important discussions.

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Dinner in Hanoi

By Jeff Thomas – Re-Blogged From International Man

“Trump is doing the right thing. Without him, we have no protection against China. China doesn’t only wish to dominate Asia, but the world.”

Here in Hanoi, so said my dinner companion – a major manufacturer and worldwide exporter of steel products.

He, like so many other major Asian producers, sees an opportunity in international trade for all of Asia to capitalize on.

In the Western world, the argument rages as to whether the US tariff war will benefit the US or not.

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A Trade War Truce Won’t Fix China

By Michael Pento – Re-Blogged From Pento Porfolios

The Main Stream Financial Media would love to have investors believe that the recent problems in the global equity market are all about a trade war with China. Therefore, everything can be made right just because Trump shook hands with Xi Jinping at the G-20 meeting in Argentina. But the truth is, China’s problems are structural in nature–resulting from a centrally-planned economy that goads its citizenry into pre-fabricated urban areas in order to manufacture a pre-determined rate of growth. Nevertheless, what the Chinese government has actually accomplished is to produce a dystopia; one that was erected upon the largest percentage increase in debt the world has ever witnessed.

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Immigrant Population Hits 107-Year High

By Joshua Paladino – Re-Blogged From Liberty Headlines

Some of the largest immigration expansions, as a percentage, between 2010 and 2017 came from war-torn or economically struggling countries…

Asylum Seekers Keep Coming Despite Immigration Law Enforcement

As of July 2017, immigrants —legal and illegal — compose the highest percentage of the U.S. population that they have since 1910.

About one in seven current U.S. residents — 44.5 million — emigrated from a foreign country, according to a study conducted by the Center for Immigration Studies.

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Luddite Eco-Imperialists Claim to be Virtuous

By Paul Dreissen – Re-Blogged From WUWT

Poor families in impoverished countries face formidable foes: an absence of electricity, roads and other infrastructure; corrupt, kleptocratic governments;  nonexistent property rights to secure loans; well-financed eco-imperialists whose policies perpetuate poverty, malnutrition and disease.

Now they face even harder struggles, as a coalition of well-financed malcontents, agitators and pressure groups has formed a social-political movement called “AgroEcology.” Coalition members despise fossil fuels, chemical pesticides and fertilizers, biotechnology, corporations, capitalism, and even farm machinery and all facets of modern agriculture. It’s anti-GMO organic food activism on steroids, promoting all the latest in PC fads and terminology: “food sovereignty,” the “right to subsistence farming by indigenous people” and “the right of peoples to culturally appropriate food,” to cite a few.

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Poverty and Energy

By Andy May – Re-Blogged From http://www.WattsUpWithThat.com

Poverty and access to energy are closely related. Although it probably isn’t possible to show that access to energy is the key reason so many have been lifted out of poverty in recent decades, the data and logic suggests that this so. In the United States, the average person uses about 300 million BTUs of energy per year according to the EIA. This is equivalent to the manual labor of 69 healthy people working hard for 6 hours per day. Worldwide, the average person uses 73 million BTUs, the equivalent of 16 hardworking people.

Prior to the industrial age, which began with the first practical coal- and wood-fired steam engines between 1712 and 1776, slavery, bonded servants and serfs were common, this group made up over 90% of the world’s population in 1800. For a few people to live well they needed lots of servants and domestic animals to do the manual labor for them. Now, in the age of electricity, petroleum and nuclear powerplants, most manual labor can be done by machines. No longer do a few wealthy people live from the labor of others, everyone who has access to energy can live well. Before the industrial age, nearly everyone was extremely poor as seen in Figure 1, today fewer than 10% are extremely poor.

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