Shale oil production will level off and we will have a peak in the oil production in 2015

January 28, 2015

6

Oil pump east Eagle Ford

(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 […]

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Oljan – bränsle för ekonomisk tillväxt – räcker inte till för 3% tillväxt

January 27, 2015

2

Demand and economic growth

(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 […]

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Will we see the 2008-2009 decline in number of drilling rigs?

January 26, 2015

0

Rigs at Permian basen

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 […]

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Baker Hughes, Halliburton and Schlumberger plan to lay off 17,000 oil workers

January 26, 2015

1

oil-rig-workers

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 […]

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Will the US Rule the Oil Market?

January 25, 2015

1

25yergin-master675

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 […]

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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

3

Oil demand

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 […]

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The 2015 State of the Union address: Obama barely mentions energy

January 22, 2015

1

Obaba 2015 SOU

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 […]

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The oil price roller-coaster

January 6, 2015

2

Russian oil roller coaster-2

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 […]

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Merry Christmas and a Happy New Year

December 22, 2014

2

Merry Peak Christmas

Thank you for reading my blog. We have had an interesting year with oil and gas I think that 2015 will be even more interesting. I will try to cover important things that happen. I must thank Michael Lardelli who translate my blog to English and Olle Qvennerstedt who make all the fantastic illustrations that […]

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Shale Gas – “Whishful Thinking”

December 22, 2014

1

UT Austin fracking

At the beginning of December, Nature published an article by Mason Inman with the title ”Natural gas: The fracking fallacy”. The article was summarised with the words, “The United States is banking on decades of abundant natural gas to power its economic resurgence. That may be wishful thinking”. Inman summarises all the hopes that cheap […]

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Musikhjälpen – En värld drogad av olja

December 13, 2014

0

slutbud

Nu har man lagt slutbudet och det blev fantastiska 20200 kr. Roligt att man kan bidra på detta sätt för kampen mot HIV.

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Musikhjälpen – En värld drogad av olja

December 12, 2014

0

musikhjälpen

Musikhjälpen samlar i år in pengar för aids och jag har skänkt ett föredrag i Sverige med titeln ”En värld drogad av olja”. Just nu är högsta budet 4050 kr. Jag hoppas att det blir riktigt högt. Följ budgivningen: http://www.tradera.com/item/280404/222140705/ett-foredrag-om-en-vard-drogad-av-olja-av-kjell-aleklett

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