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Global Energy Systems, peak oil, etc (Globala energisystem, peak oil, mm)
Browsing All Posts published on »January, 2015«
Chevron reports nearly 30 percent decline in earnings and that they will abandon the Shale Natural Gas Venture in Poland
Chevron is the next of the major oil companies reporting declining revenues. Its earnings for the fourth quarter of 2014 fell nearly 30 percent compared with a year earlier. The company blamed lower oil prices for much of the damage. Compared to Shell’s decline of 57 percent a decline of 30 per cent seems pretty […]
The Royal Dutch Shell net income fell with 57 percent, but Shell will resume drilling in Alaska
January 31, 2015
The blue area is the Beaufort Sea The price of Brent crude, an international variety of oil, dropped about 50 percent last year and naturally the earnings for the oil companies should drop with more than 50 percent as they have to pay the base expenses before they can earn something. On Thursday Royal Dutch […]
The new Saudi king Salman bin Abdul Aziz al-Saud
January 30, 2015
Det har under flera år diskuterats vad som skulle hända då Saudiarabiens kung Abdullah gick bort. Nu en vecka efter begravningen kan vi konstatera att det är lugnt i landet och att tronskiftet inte hade någon nämnvärd inverkan på oljepriset. Grundare av Saudiarabien, kung Abdul Aziz bin Al-Saud lär ha haft åtminstone 22 fruar, men […]
Oil, the economy’s central power source, is now insufficient for 3% economic growth
January 28, 2015
Last Monday in January on the “Report” news programme of Sweden’s most widely watched TV channel, SVT1, they discussed future economic outlooks and they stated that the economic growth prognoses from the Sweden’s National Institute of Economic Research over the past five years had been excessively optimistic. The Institute has been projecting future economic growth […]
Shale oil production will level off and we will have a peak in the oil production in 2015
January 28, 2015
(Photo: Oil pump east Eagle Frod, K Aleklett) The US Energy Information Administration, EIA, has now made a first forecast of the production of oil from the lower 48 states, the states with fracking. As the decline for individuate wells are very steep the rig count will be a very important factor for the future […]
Oljan – bränsle för ekonomisk tillväxt – räcker inte till för 3% tillväxt
January 27, 2015
(English in separate blog) På måndag diskuterade man ekonomiska framtidsprognoser i Rapport och konstaterade att de prognoser som konjunkturinstitutet gjort de senaste fem åren har alla haft en alltför optimistiska förhoppningar om en högkonjunktur om några år. Man har visat en tillväxt på ungefär 3 procent om året. Varje prognos har varit felaktig och man […]
Will we see the 2008-2009 decline in number of drilling rigs?
January 26, 2015
Rigs at Permian Basin (Photo K. Aleklett) The week ended Jan. 23 was just another week when the US drilling rig count fell and this time with 43 units according to the Baker Hughes Inc. report. The count has now fallen in 8 consecutive weeks, losing 287 units during that time. Forty-two of the 43 […]
Baker Hughes, Halliburton and Schlumberger plan to lay off 17,000 oil workers
January 26, 2015
Global oil prices have tumbled almost 60 percent since June, hitting five-year lows as growing production and tepid global demand has caused a supply glut and prompted oil producers to scale back spending. Oilfield service providers Baker Hughes Inc and Halliburton Co plan to cut thousands of jobs as drilling activity slows further due to […]
Will the US Rule the Oil Market?
January 25, 2015
Will the USA rule the oil market? Daniel Yergin has published an article in the New York Times under the headline, ”Who Will Rule the Oil Market?” It is a well-written and balanced article that describes the current situation regarding oil. He begins the article by mentioning that, before OPEC, it was the USA via […]
Since 2005, oil demand in Europe and the United States has declined by 5.8 million barrels a day / Sedan 2005 ha efterfrågan på olja i Europa och USA minskat med 5.8 miljoner fat om dagen.
January 23, 2015
The US Energy Information Administration (EIA) has reported on oil production (oil + condensate) since 1983. In the second week of January they reported the highest level of production since reporting began, 9.19 million barrels per day (Mb/d). Last week production fell by 6000 barrels per day. We know that production in fracked wells falls […]
The 2015 State of the Union address: Obama barely mentions energy
January 22, 2015
President Obama has now delivered his annual address to the nation and according to the Oil & Gas Journal Obama barely mentioned energy. They has gone through his speeches and summed energy related parts and probably it could be the following sentence that will be quoted: “And today, America is No. 1 in oil and […]
The oil price roller-coaster
January 6, 2015
Happy New Year! During all the years that I have worked with Peak Oil I have always asserted that the price of oil will be what the market is willing to pay. When we held our first Peak Oil conference in Uppsala in 2002 the price was around $25 per barrel. At that time, a […]
Peeking at Peak Oil
Aleklett's Energy Mix 
January 31, 2015
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