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Peak oil notes - July 31

A mid-week update. Crude prices continued to fall this week as markets ignored the new sanctions on Russia and the increasing turmoil in the Middle East to focus on sagging gasoline demand and increasing product stocks.

Ukraine - headlines

•US and EU Lose Major Energy Battle in Ukraine •Coordinated Sanctions Aim at Russia’s Ability to Tap Its Oil Reserves •Ukrainian 'seizes Avdiivka' in rebel Donetsk stronghold •Ukrainian prime minister Arseny Yatseniuk resigns •Ukraine votes to keep Western companies out of gas industry •US intelligence officials just gave a very unsatisfying briefing on MH17

Our watershed moment

We humans need water for life, we love it for leisure, we make art out of it; yet we also waste it, dirty it, privatise it, use it as a weapon and, most dangerously, stir it up brutally in the form of manmade climate change.

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