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"Peak is dead" and the future of oil supply

Interview with indendent peak oil analyst Dr Richard G. Miller. Miller, trained as a geologist, joined BP as a geochemist in 1985. He is coauthor of The Future of Oil Supply published by the Royal Society.

The future of oil supply

This special edition from the Royal Society provides comprehensive and interdisciplinary perspective on the ‘peak oil’ debate and reflects a range of views. Ultimately, it reminds us that the wolf did eventually appear - and that it would be wise to prepare.

Future oil supply: The changing stance of the International Energy Agency (paper)

As the upheavals in the Middle East drive the oil price ever higher, the report identifies a litany of questionable assumptions that underpin the forecasts of the International Energy Agency (IEA), on which UK policy is based.

ODAC Guest Commentary - Falklands oil and the British economy

The first wells of the modern era (there may have been older ones, I don't know) were six drilled around 1998 in the North Falklands Basin. A sniff of gas and oil was found in two of them. Other wells have since been drilled, and nothing found anything to write home about. The current minor hoo-hah relates to an old well which has been "re-interpreted" to suggest that it did cut oil-bearing …

ODAC Guest Commentary - The Wicks Report

“There is no crisis”, states the introduction to this paper. We suggest that Mr Wicks is therefore not entirely in command of his brief. This paper gathers together many well-known, but selective and sometimes outdated, data. The conclusions are therefore rather predictable from the outset. There is little critical thought to be found here. For example, Korea is cited as a case study of …

ODAC Guest Commentary - 2009 BP Annual Statistical Review

BPs annual Statistical Review of World Energy for 2009, its 58th, was published this week, a collection of valuable statistics accompanied by press briefings and the regular anodyne platitude.

ODAC Guest Commentary - IEA is getting rattled by events

The IEA is getting rattled by events. For some years, the IEA, EIA and OPEC all maintained the view that oil resources are so large that they must be sufficient to maintain supply. Other leaders in government and industry uncritically accepted that position, and stopped worrying. But the IEA has now broken ranks, to accept that there is a looming problem of supply, even from the large …

ODAC Guest Commentary - Richard Pike rebuttal

Richard Pike is an old BP hand, whose maths is sound. The proved reserve is often defined as that low amount which is 90% likely to be recovered, i.e. almost certain, and is called P90. Proved and probable reserve, or P50, is the amount which is 50% likely to be recovered. P10 also includes the possible, and is only 10% likely to be recovered.

ODAC Guest Commentary - Shell 2007 profits

Shell's 108,000 employees earned "an obscene" £14 billion in profits last year. If, as I imagine, Shell keeps a similar number of contractors off the books to keep the head-count down, the profit per head is about £70k. If you earned £70k as profit in a business, you probably wouldn't expect to be sand-bagged with a windfall tax by a starving Chancellor.