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ODAC Newsletter - Oct 23

Welcome to the ODAC Newsletter, a weekly roundup from the Oil Depletion Analysis Centre, the UK registered charity dedicated to raising awareness of peak oil.

This week ODAC welcomes the publication of two important reports. In its excellent Heads in the Sand report, Global Witness provides one of the clearest summaries of the peak oil issue to date, including a trenchant critique of the IEA’s position. The ‘ten things you ought to know about oil supply’ on page 6 acts as a handy reference and ought to be enough to trouble even the most optimistic observer.

The second report The Great Transition from the New Economics Foundation (nef), is a bold stab at a roadmap to address the issues of peak oil, climate change and ‘ecosystem pressure’. The approach, which borrows heavily from Transition in terms of method and language, is an attempt to design a workable response to the challenges, with a focus on equity and a rebalancing of values.

As the oil price rose to $82/barrel, another high for the year despite the generally dismal economic picture, the usual suspects were hauled in for the blame line-up. Secretary-general of OPEC, Abdalla Salem El-Badri speaking at the annual Oil and Money conference in London, accused speculators of causing the rise, while others pointed to dollar weakness or economic recovery. In China, whose rampant economy barely paused for breath as the developed world plunged into recession last year, 3rd quarter growth hit 8.9%.

In Britain the cost of nuclear power was in the news as the government apparently prepares to unveil a new strategy. A report in the Guardian claimed the government plans to subsidize new nuclear power stations by establishing a floor of €30 for the carbon price, raising the average electricity bill £44 per year. But the story ignored the good arguments in favour of a minimum carbon price, which would also benefit renewables and discourage fossil generation.

UK residents are invited to sign a petition asking the government to respond to the recent report on Global Oil Depletion by the UK Energy Research Council (UKERC).

View our Reports and Resources page

Oil

Oil prices hit high but report warns of supply crunch

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Oil Falls Below $81 as Rising Dollar Buoys Commodities Demand

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OPEC and corporations disagree as oil hits 12-month high of $80 per barrel

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The sun slowly sets on the West's oil men

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Conoco sees oil output peaking below 100 mln bpd

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Iraq's oil power grows, but firms eye election

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Obama administration to review Bush-era oil shale leases

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Setback for US crackdown on oil speculation

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Gas

Shale gas supply debate heats up

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Yamal peninsula: The world's biggest gas reserves

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Enthusiasm for Natural Gas Cools

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British Gas owner could use cow manure to heat homes

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Nuclear

Families face nuclear tax on power bills

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Nuclear power: A bung by any other name

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UK

A tale of how it turned out right

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Government’s fast-track plan for power will raise hackles

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The number of people behind with their energy bills increases by 50 per cent

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Energy and climate change : Questioning the invisible hand

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Climate

Greenland melts miners’ hearts as receding ice reveals its treasure trove

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China-India deal to resist carbon caps

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Melting Himalayan ice prompts conflict fear

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Economy

China economic growth accelerates

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China car output 'breaks record'

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