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recession

(AFP PHOTO/ VIKTOR DRACHEVVIKTOR DRACHEV/AFP/Getty Images)

Russia battles over billions in oil taxes amid crude price crash

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On the brink of its first recession since 2009, Russia’s state coffers are being depleted by lower energy revenue as sanctions and a plunging ruble put further pressure on the economy.
(Photographer: Daniel Acker/Bloomberg)

Commentary: How to survive a bust

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Some recession lessons for workers worried about being on the wrong side of the latest oil bust.
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Report: Energy jobs have led economic recovery

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The increases in oil and gas industry employment has nearly overtaken the number of all the jobs lost in the last decade, according to a new report
(Photo: Fotolia)

Oil price creeps toward danger point for global economy

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A spike in the price of crude historically has foreshadowed economic slumps and economists are worrying anew after the price touched its highest in nine months, above $113 a barrel, amid fresh violence in Iraq,
(Feng Yu/Fotolia)

Puerto Rico governor vows reform as electricity bills soar

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Puerto Rico’s governor announced Wednesday that he is overhauling the island’s state-run power company amid corruption allegations and criticism that bills are on average more than double that of the U.S. mainland.
(AP Photo/Rich  Pedroncelli)

US carbon pollution drops, despite growth worldwide

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The United States cut its energy-related carbon dioxide pollution by 3.8 percent last year, the second biggest drop since 1990, the Department of Energy said Monday.

Our Investment Sinkhole Problem

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We are used to expecting that more investment will yield more output, but in the real world, things don’t always work out that way.
Figure 1. Comparison of 2005 to 2011 percent change in real GDP vs percent change in oil consumption, both on a per ca…
Categories: Uncategorized
(Image: Fotolia)

Eagle Ford drilling fuels income surge for all, despite recession

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Counties in the Eagle Ford shale saw an average increase in per capita income of 13.62 percent between 2008 and 2011, according to the Bureau of Economic Analysis. Texas as a whole saw an increase of 1.34 percent during that time period.

IEA Oil Forecast Unrealistically High; Misses Diminishing Returns

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The International Energy Agency (IEA) provides unrealistically high oil forecasts in its new 2012 World Energy Outlook (WEO). It claims, among other things, that the United States will become the world’s largest oil producer by around 2020, and North…
Categories: General

World Energy Consumption Since 1820 in Charts

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Figure 1 shows the huge increase in world energy consumption that has taken place in roughly the last 200 years. This rise in energy consumption is primarily from increased fossil fuel use.

world-energy-consumption-by-source.png
Figure 1. World Energy Consumption by Source, Based on Vaclav Smil estimates from Energy Transitions: History, Requirements and Prospects together with BP Statistical Data for 1965 and subsequent

With energy consumption rising as rapidly as shown in Figure 1, it is hard to see what is happening when viewed at the level of the individual. To get a different view, Figure 2 shows average consumption per person, using ...