Tag Archives: BTU

Oil’s Bright, Momentary Flash

In 1965, after more than a century and a half, oil overtook coal as the world’s primary energy source. But only eight years later in 1973, oil itself peaked as a percentage of global energy use at 48.5%. Now, forty years later, oil is barely hanging on as the world’s primary energy source, with a […]

North America Takes Further Steps to Export its Natural Gas

North America has a number of LNG export projects underway, mostly in Kitimat, British Columbia. But yesterday the US Federal Energy Regulatory Commission (FERC) approved the first application for such a facility in the lower 48. Until these projects are operational, North American natural gas will continue to be trapped by geography. And, given that […]

North American Natural Gas Breaks Below Two Dollars, for a Million BTU

Natural gas in North America broke below the $2.00 barrier today, for the first time in ten years. It’s important to remember that, unlike oil, natural gas does not trade at a converged, global price. Accordingly, a million BTU in LNG form currently trades for over $9.00 in the UK, and over $15.00 in Japan. […]

For A Million BTU

The price differential for a million btu is blowing out once again, between Global oil and North American natural gas. The extraordinary discount has persisted for some years. But today, with West Texas Intermediate (WTIC) oil above $100 and Brent oil above $110, the spread has reached new highs. The energy content of natural gas […]

The Energy Limit Model

The energy limit model to economic growth is working beautifully, having come into play prior to the 2008 crisis and now once again forcing another global slowdown. Above is the most recently updated chart showing energy expenditures as a percentage of US GDP. As usual, I have not merely taken EIA.Gov’s calculations here, but cross […]

Phantom Efficiencies: US Economy Still Running Very Slow

The US economy is consuming 2.00% less energy than its five year average seen prior to the 2008 financial crisis. Some will be cheered by this data, and indeed there are small nuggets of good news here. First, US consumption of oil—which turned flattish after the 2004 repricing—is down significantly, by over 10% since 2007. […]

Friday Notebook: The New Simon-Ehrlich Teaching Story

Paul Kedrosky has cleverly turned the famous 1980 Simon-Ehrlich wager on future commodity prices into a new teaching story, recasting the old lessons from that economist’s tete a tete into a false moral. In his interview here, with Andrew Keen, Paul explains that not only was the original bet limited to a not-very-useful 10 year […]

China’s Just a Place

The mainstream press is abuzz this week with the “news” that the United States, after 100+ years, has now been surpassed as the world’s No. 1 energy consumer. IEA Paris, following the BP Statistical Review in June, has decided to call this race in favor of China. However, this is really not a story of […]

Crouching Oil, Hidden Coal

The bible for energy data, the BP Statistical Review, was released yesterday and I continue to make up charts using the fresh news. Today I update Global Energy Use by Source 2009, which shows the contribution to total world energy by source, and without question there are changes here worth a comment. But before getting […]

Coal Conditions Coming

Recently I had occasion to watch an online debate between a clean-coal advocate and a robust, articulate green-energy blogger. The debate followed predictable contours. In one corner, the clean-coal advocate repeated a series of rather inflated achievements, supposedly gained over the past 30 years in coal-fired power generation. In the other corner, the green-energy blogger […]