" />
Building a world of
resilient communities.



ODAC Newsletter - June 4

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.

As the leaking Macondo well in the Gulf of Mexico continues to defy BP's efforts, the crisis now looks existential for the company. This week the share price collapsed further, and commentary went far beyond the usual concerns over the fate of the chief executive and the dividend. One Clinton era official even suggested taking BP's US assets into temporary administration. "It's got the real smell of death" said Dougie Youngson, an oil analyst at Arbuthnot, "This could break BP". Takeover talk swirls the market but that course would be fraught for any bidder. It could only go through if the disaster liabilities were utterly ring-fenced, which would be political dynamite in a country baying for retribution.

President Obama appears to be taking advantage of the moment to push for a transition away from fossil fuels. In a speech in Pittsburgh on Wednesday he pointed out that the inherent risks will increase the harder oil extraction becomes. He pledged to roll back oil industry tax breaks and prioritise climate change legislation. Such talk may be popular now, but if this translates into increased prices at the pump, the cheers will quickly turn to jeers.

The broader meaning of the crisis is clear. The easy oil is gone, and impending peak oil pushes the industry to ever more extreme limits. The moratorium of deepwater drilling in the Gulf will probably hasten and worsen the oil supply crunch widely forecast for the middle of this decade.

In the UK this week Energy & Climate Change Secretary Chris Huhne described his department as "not so much the department of energy and climate change, as the department of nuclear legacy and bits of other things," as he pointed out a pending £4bn "black hole" in his budget due to nuclear decommissioning costs. "What we are effectively paying for here is decades of cheap nuclear electricity for which we have suddenly got a massive post-dated bill", he said.

His remarks coincided with a story in the Guardian revealed intensive lobbying by EDF of the previous administration over its proposals for nuclear waste management. The new government's policy against any industry-specific support for nuclear looks ever more sensible.


As well spews in Gulf, Obama makes climate bill a priority

Back to top

Gulf of Mexico oil spill: Barack Obama to rescind billions of dollars in 'Big Oil' tax breaks

Back to top

Gulf oil spill: BP could face ban as US launches criminal investigation

Back to top

BP Places Cap Over Leaking Gulf Oil Well, U.S. Says

Back to top

Why America should thank BP

Back to top

Nigeria's agony dwarfs the Gulf oil spill. The US and Europe ignore it

Back to top

BP's behaviour in the Gulf is appalling. But our thirst for oil is the real issue

Back to top

78 months and counting ...

Back to top

Barreling Toward Peak Oil

Back to top

Oil Trades Near $74, Set for Second Weekly Gain, on U.S. Demand

Back to top

Production Costs Climb for Canadian Oil Sands, Companies Say

Back to top


China lifts natgas prices in long-awaited reform

Back to top

Shell expands US shale gas reserves with $4.7bn purchase of East Resources

Back to top

Struggle for Central Asian energy riches

Back to top

Turkmenistan starts new gas pipeline to West

Back to top


Plans for first coal power plant since 1970s

Back to top


Chris Huhne warns of £4bn black hole in nuclear power budget

Back to top

EDF ran secret lobbying campaign to reduce nuclear waste disposal levy

Back to top

Nuclear giants stockpile fuel while price is cheap

Back to top


Figuring land use into renewable-energy equation

Back to top


Who pays for UK coalition's 'green economy'?

Back to top

Government review to examine threat of world resources shortage

Back to top


EU plans green taxes to cut debt

Back to top

2010 on track to become warmest year ever

Back to top


Commodities' Biggest Drop Since Lehman Bear Signal

Back to top

Editorial Notes: The Oil Depletion Analysis Centre (ODAC) is an independent, UK-registered educational charity working to raise international public awareness and promote better understanding of the world's oil-depletion problem.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.


This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

As Nations Embrace Paris Agreement, World’s Existing Fossil Fuels Set to Exceed its Goals

Entitled “The Sky’s Limit: Why the Paris Climate Goals Require a …

Naomi Klein & the Let­down of the Leap Manifesto: Poli­tics Doesn't Trump Physics, Nor the Economics of Collapse (part 2/3)

Politics can be egalitarian when going up Hubbert's Curve, but it's a whole …

Carbon Tracker Analysis: ‘Renewables are Already Outcompeting Fossil Fuels’

Clean technologies are already cheaper, on average, than the incumbent …

Timeline: The Past, Present and Future of Germany’s Energiewende

The Energiewende (energy transition) is an internationally recognised …

The Sower's Way: the Path for the Future

Our paper on "The Sower's Way" has been published in the IOP …

Just 16,000 Catenary Trucks Would Use All of California’s Electricity with only 2400 to 8300 Miles of Overhead Wires

It makes sense to electrify trucks since fuel from oil, coal, and natural …

The Energy-Water Nexus  

Energy and water are inextricably linked: It takes energy to supply water, …