What can we learn from the Great Depression about oil’s future?

What can we learn from the Great Depression about oil’s future?

In 1929, U.S. stock markets crashed, scything personal fortunes and birthing the most devastating global economic depression since the 1870s-1880s. The Great Depression hit oil demand hard. Oil prices collapsed along with the share prices of oil company stocks. It remains the only historical period of comparable oil-demand decimation to what the industry is experiencing […]

By John Bowlus |
COVID-19’s forced de-globalization will rewire and decarbonize energy

COVID-19’s forced de-globalization will rewire and decarbonize energy

Climate change may be the most intractable psychological-sociological challenge that humanity has ever encountered. It has been occurring for decades if not centuries, yet we do not view the threat as imminent, and are thus failing to address it. This is the “climate kaleidoscope” that David Wallace-Wells describes in The Uninhabitable Earth: “we can be […]

By John Bowlus |
Oil refiners slash output as fuel demand plunges

Oil refiners slash output as fuel demand plunges

The bottom has fallen out of fuel demand as airlines around the world ground flights and millions of people are put into quarantine amidst the coronavirus pandemic. As a result, oil majors are shuttering refinery units amidst speculation that April could see the largest oil supply overhang in history and concerns that crude prices could […]

By Energy Reporters |
Permian Basin output continues to rise 

Permian Basin output continues to rise 

US oil output from the Permian Basin is expected to rise next month, according to government figures, helping to push production up by approximately 18,000 barrels per day (bpd) to a new high of 9.08 million bpd.  Production from the Texas and New Mexico shale basin is expected to rise 38,000 bpd to a record […]

By Energy Reporters |
Experts
Production
Oil refiners slash output as fuel demand plunges

Oil refiners slash output as fuel demand plunges

The bottom has fallen out of fuel demand as airlines around the world ground flights and millions of people are put into quarantine amidst the coronavirus pandemic. As a result, oil majors are shuttering refinery units amidst speculation that April could see the largest oil supply overhang in history and concerns that crude prices could […]

By |
Transmission
Australian grid struggles with renewables boom: report

Australian grid struggles with renewables boom: report

Australia’s independent Energy Security Board (ESB) has reported a “remarkable growth” in renewable energy, driven by cheaper equipment and government support with rooftop panels accounting for 5 per cent of production. The report said since 2005 total emissions across the national electricity market fell by 15 per cent with pollution expected to drop by a […]

By |
Storage
European Commission launches hydrogen initiative 

European Commission launches hydrogen initiative 

The European Commission has unveiled plans for an industrial strategy based on hydrogen production that include a “Clean Hydrogen Alliance” across the bloc.  “The alliance will build on existing work to identify technology needs, investment opportunities and regulatory barriers and enablers,” the European Union’s executive branch stated.  The initiative aims to promote the homegrown production […]

By |
Consumption
Saudi Aramco shares tumble amid price war 

Saudi Aramco shares tumble amid price war 

Saudi Aramco shares have fallen below their initial public offering (IPO) level amid the crude oil price war and the spread of the coronavirus. Shares in the state-run giant fell by 9.4 per cent in Saudi Arabia before a slight recovery. On Sunday, the Saudi authorities made the deepest cuts since the 1991 Gulf War […]

By |
Policy
What can we learn from the Great Depression about oil’s future?

What can we learn from the Great Depression about oil’s future?

In 1929, U.S. stock markets crashed, scything personal fortunes and birthing the most devastating global economic depression since the 1870s-1880s. The Great Depression hit oil demand hard. Oil prices collapsed along with the share prices of oil company stocks. It remains the only historical period of comparable oil-demand decimation to what the industry is experiencing […]

By |
Environment
COVID-19’s forced de-globalization will rewire and decarbonize energy

COVID-19’s forced de-globalization will rewire and decarbonize energy

Climate change may be the most intractable psychological-sociological challenge that humanity has ever encountered. It has been occurring for decades if not centuries, yet we do not view the threat as imminent, and are thus failing to address it. This is the “climate kaleidoscope” that David Wallace-Wells describes in The Uninhabitable Earth: “we can be […]

By |
Industry
Carbon export tax would stamp out coal use: paper 

Carbon export tax would stamp out coal use: paper 

UK coal use is under increasing scrutiny despite claims that the country went a fortnight last year without generating any electricity from coal.  According to the government, coal made up 2 per cent of UK-generated power in 2019. By contrast, the figure was 15 per cent in the Netherlands and 38 per cent in Germany. […]

By |

Opinion

What can we learn from the Great Depression about oil’s future?

Opinion

In 1929, U.S. stock markets crashed, scything personal fortunes and birthing the most devastating global economic depression since the 1870s-1880s. The Great Depression hit oil demand hard. Oil prices collapsed along with the share prices of oil company stocks. It remains the only historical period of comparable oil-demand decimation to what the industry is experiencing […]

By |

COVID-19’s forced de-globalization will rewire and decarbonize energy

Environment

Climate change may be the most intractable psychological-sociological challenge that humanity has ever encountered. It has been occurring for decades if not centuries, yet we do not view the threat as imminent, and are thus failing to address it. This is the “climate kaleidoscope” that David Wallace-Wells describes in The Uninhabitable Earth: “we can be […]

By |