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Demand and Economics, or are we mushrooms?
‘Heading out’, The Oil Drum
Just as I was sharpening my pencil to begin the post on drilling that will follow, I glanced over at Reuters, to see how oil was doing today. Given the discussion over at Econbrowser, and his apparent demand (as in command) that you can’t use the word demand (as in need) without defining that in terms of price(and the post has 203 comments attached in an interesting discussion) my eye was caught by the following quote from the Reuters article …
(13 August, 2005)
The comments on this thread, spilling over from the debate on Econbrowser, are well worth reading – geology might ‘trump’ economics, but its economics that is still making the plays.-LJ
America’s energy future (AUDIO)
Betsy Rosenberg, EcoTalk (AirAmerica Radio)
We’ll drill down and see what’s really in store for America’s energy future now that the long delayed, much debated energy bill has been signed. Were the oil and coal industries the only winners or is there something in there for the rest of us? In signing the legislation Bush said nuclear power offers great promise but is it a safe or cost effective?
Author and commentator, Mark Hertsgaard will weigh in about the real cost of nuclear energy and tell us why “peak oil” is going to become a familiar concept.
Listen (17 min)
Bob Borosage, of The Campaign for America’s Future and the Apollo Alliance, will tell us what states are doing to be more “conserve-ative” since the federal government is MIA on energy efficiency leadership.
(14 August 2005)
Recommended by MOBJECTIVIST.
Where Now After Oil’s Record Week?
Stephen Clayson, ResourceInvestor
LONDON — Last week saw the price of oil set another new numerical record, powering past $67 a barrel for the first time. Does the price have further upward momentum?
To some extent, short term factors goaded oil higher last week, including the emerging crisis over Iranian nuclear ambitions and the possibility albeit remote of military intervention by Anglo-American forces, or surprise air strikes by Israel; and terrorist threats against Western embassies in Saudi Arabia that led to their closure.
But more significantly, longer term factors are at work. Most prominently, global oil production is simply close to its present limit
(14 August 2005)
‘Peak oil’ issue piques interest
Cathy Proctor, Denver Business Journal
With the price of oil and gasoline spiraling higher, top energy analysts wonder about two things:
Where will it end?
Are the world’s supplies reaching what experts call “peak oil,” the point where supplies steadily decline and prices rise even more sharply higher?
Some experts say the world’s oil production peak could be five to 15 years away. Others scoff, noting it’s been predicted for decades. And besides, skeptics say, new technologies will bring more oil to the market.
The city of Denver will wade into the debate when it hosts a two-day seminar Nov. 10-11 on “peak oil” and what it may mean to Denver and the nation’s economy. The U.S. arm of the International Association for the Study of Peak Oil & Gas (www.aspo-usa.com) will co-host the event.
Mayor John Hickenlooper, the state’s most famous former petroleum geologist, said he heard Tom Petrie, chairman and CEO of Denver oil and gas investment firm Petrie Parkman & Company Inc., give a presentation on the topic about a year ago.
“It was so compelling that I thought more people should be aware of this going on,” Hickenlooper said. “That this is happening, has or is about to happen. …
(15 August, 2005)
Other Energy Issues
Oil shale drive has risks for the West
Editorial, Denver Post
Washington hopes to accelerate the development of oil shale deposits in the West, but there are concerns about water use, pollution and vegetation.
Coloradans are skeptical of claims that oil shale can any day soon be made into synthetic liquid fuel to replace gasoline and diesel. We’ve seen the hype and crash many times before. …
Still, the prospect of an oil shale boom in our region stirs serious worries:
Water: It takes 3 1/2 barrels of water to produce just one barrel of liquid fuel from oil shale, industry experts say. …
Energy: Oil shale is terribly inefficient as a fuel, critics say. For every 100 units of energy produced by oil shale, 40 are needed to just make the material into liquid fuel. Oil shale production will require massive new electrical generation, likely from coal-fired power plants that emit pollutants and contribute to haze that mars vistas in parks and wilderness areas. …
(13 August 2005)