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The world has tons of oil left

Ben Geman, author of Generate
Expand chart
Adapted from Rystad Energy; Chart: Axios Visuals

The consultancy Rystad Energy has released new estimates of global oil resources that help underscore why the discussion in energy circles has transformed over the last decade from when supplies will peak to when demand will taper off, because there's lots of oil left and being discovered.

The data: "Rystad Energy estimates that liquid resources from mature assets grew 151 billion barrels over the last four years, which is almost 17% more than the amount produced in those years. This brings the total remaining liquid resource count to 1.227 trillion barrels as of year-end 2017," they said in a brief report.

Go deeper

Alayna Treene, author of Sneak Peek
3 hours ago - Politics & Policy

Trump to issue at least 100 pardons and commutations before leaving office

Photo: Mandel Ngan/AFP via Getty Images

President Trump plans to issue at least 100 pardons and commutations on his final full day in office Tuesday, sources familiar with the matter told Axios.

Why it matters: This is a continuation of the president's controversial December spree that saw full pardons granted to more than two dozen people — including former Trump campaign chair Paul Manafort, longtime associate Roger Stone and Charles Kushner, the father of Trump's senior adviser and son-in-law, Jared Kushner.

  • The pardons set to be issued before Trump exits the White House will be a mix of criminal justice ones and pardons for people connected to the president, the sources said.
  • CNN first reported this news.

Go deeper: Convicts turn to D.C. fixers for Trump pardons

Stef W. Kight, Kadia Goba
4 hours ago - Politics & Policy

Schumer's m(aj)ority checklist

Senate Minority Leader Chuck Schumer. Photo: Tasos Katopodis/Getty Images

Capitalizing on the Georgia runoffs, achieving a 50-50 Senate and launching an impeachment trial are weighty to-dos for getting Joe Biden's administration up and running on Day One.

What to watch: A blend of ceremonies, hearings and legal timelines will come into play on Tuesday and Wednesday so Chuck Schumer can actually claim the Senate majority and propel the new president's agenda.

Go deeper (1 min. read)Arrow
Kadia Goba
6 hours ago - Politics & Policy

The dark new reality in Congress

National Guard troops keep watch at security fencing. Photo: Kent Nishimura/Los Angeles Times via Getty Images

This is how bad things are for elected officials and others working in a post-insurrection Congress:

  • Rep. Norma Torres (D-Calif.) said she had a panic attack while grocery shopping back home.
  • Rep. Jim McGovern (D-Mass.) said police may also have to be at his constituent meetings.
  • Rep. Adam Kinzinger (R-Ill.) told a podcaster he brought a gun to his office on Capitol Hill on Jan. 6 because he anticipated trouble with the proceedings that day.
Go deeper (2 min. read)Arrow

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