(by Dr. Louis Arnoux) Recently, Saudi Aramco, the world largest oil exporter, has acknowledged that Ghawar, the world largest oil field, is in decline. The news went mostly unnoticed except in the specialised media. OK, so the Saudi have a bit of bother, so what? In fact, this piece of…
(By Mike Shellman), The United States Geological Society (USGS) today released a report stating there is an estimated 46.3 billion barrels of theoretical, technically recoverable, as yet undiscovered light tight oil reserves in the Wolfcamp, Bone Springs and Avalon shaley carbonate formations in the Delaware Basin of West Texas. Shale…
How insane are the markets today? Well, it’s always a pleasure to discuss this and other topics with James Howard Kunstler. Jim and I had a lively conversation about gold, silver, the shale oil industry and the overall economy in his most recent KunstlerCast. James is one of the few…
Few Americans realize that the U.S. economy is being propped up by the Shale Oil Industry. However, the shale oil industry is nothing more than a Ponzi Scheme, so when it collapses, it will take down the U.S. economy with it. Unfortunately, the reason few Americans understand how lousy the…
As the U.S. and global oil industry continue to cannibalize itself just to stay alive, the market is totally clueless because investors are being misled by the fallacy that technology will solve our peak oil crisis. While technology has allowed more oil to make it to the market, it has…
Enjoy the good times while you can because when the economy BLOWS UP this next time, there is no plan B. Sure, we could see massive monetary printing by Central Banks to continue the madness a bit longer after the market crashes, but this won’t be a long-term solution.