" />
Building a world of
resilient communities.



ODAC Newsletter - Apr 15

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.

The IEA reported this week that there are preliminary signs of oil demand destruction due to soaring prices. Goldman Sachs underlined this viewpoint on Tuesday by advising its clients to sell oil, copper, platinum and cotton. Prices fell in response, although concern over conflict in the Middle East and Saudi production saw prices nudging up again by the end of the week.

Even with demand destruction there are significant concerns that oil supply will remain tight. Platts reported that OPEC is struggling to cover the shortfall in Libyan production especially for the high quality grades. The IEA estimates that another 3 million barrels/day of production could possibly be affected by political unrest in the Middle East; while Japan is set to require additional oil imports in coming months to help cover the shortfall in power generation caused by the Fukishima nuclear disaster.

In Fukishima this week efforts continued to stabilise the damaged reactors where according to U.S. Nuclear Regulatory Commission Chairman Gregory Jaczko, "Significant additional problems" could still occur. The severity of the accident was raised on Tuesday from level 5 to 7, the highest possible rating, and the same as the Chernobyl disaster. Officials were quick to make assurances that the change in rating was not due to a recent worsening of the situation, but rather reflects the radiation released to date - which is much less than Chernobyl.

With concern growing over future oil supply and nuclear safety, much attention is currently focused on prospects for increasing gas production, via shale gas. The safety of the fracking process used to produce the gas is already the subject of considerable debate, but the industry took another hit this week as a new report from Cornell University claimed that the full life cycle of shale gas production produces more greenhouse gas emissions than coal. The industry has been positioning gas as a low carbon bridge fuel, and the report will no doubt result in heated debate. The uncertainties around gas, and also biofuel - see a report released by the Nuffield Council on Bioethics this week - demonstrate clearly that there is no ready substitute fuel for oil, and that therefore responses will need to address energy demand as well as supply.

In more positive news, this week saw the activation of a new high voltage DC powerline between the UK and Holland. The cable is seen as a first step in connecting European countries to allow for sharing and balancing of power from renewable sources.

View our Reports and Resources page


IEA: Oil Market to Tighten Further

Back to top

OPEC struggles to cover slump in Libyan output

Back to top

Goldman Sachs signals end of oil price rises

Back to top

Prime Minister of France: Oil production can only decline

Back to top

Oil Gains a Third Day After Reports Saudi Arabia Cut Production This Month

Back to top

Iraq oil output at highest level for a decade, says IEA

Back to top

Oil police struggle to protect Iraq's 'black gold'

Back to top

A bloody nose for Sir William Castell at BP's AGM

Back to top

BP, Rosneft extend share swap deadline to May 16

Back to top


Studies Say Natural Gas Has Its Own Environmental Problems

Back to top

Frack: Is Shale Natural Gas Worse for the Climate Than Coal?

Back to top

Senators Question Safety of Water Used in Gas Drilling

Back to top

Tymoshenko investigated over gas deal

Back to top


BritNed power cable boosts hopes for European supergrid

Back to top

Knowledge Is Power

Back to top


China could ban second-generation nuke projects -official

Back to top

Japanese Officials on Defensive as Nuclear Alert Level Rises

Back to top

Japan's nuclear clean-up continues to unravel

Back to top

Tepco makes Lehman seem a mere bagatelle

Back to top


Biofuels targets are 'unethical', says Nuffield report

Back to top

Relax biofuel laws to help ease the food crisis, World Bank says

Back to top


UK watchdog attacks commodity caps plan

Back to top

Out-of-town shopping malls suffer as fuel price deters shoppers

Back to top


U.S. high-speed rail program hit by deep budget cuts

Back to top

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.

Factcheck: Newspaper claim about Global Temperature is ‘Deeply Misleading’

It is all but certain now that 2016 will shatter historical records to be …

Journey to Earthland: Branching Scenarios

Whither Earthland? The only certainty about the future is surprise, the one …

Water, History, and Finance Converge As Sioux Nation Mounts Storied Battle Over Oil Pipeline

Heavy snow and winter cold settled this month on thousands of Native …

Five Ways the Paris Agreement can Address Oversupply of Fossil Fuels

The World Energy Outlook 2016, released last week, is just one among an …

Moving Slowly and Deliberately at Standing Rock: A Report on Life in the Camp

I am moving slowly and deliberately and thinking about the world we need to …

Trudeau Approves Kinder Morgan Trans Mountain Pipeline As Part of Canada’s ‘Climate Plan’

Justin Trudeau announced the approval of the Kinder Morgan Trans Mountain …

Rise of Trump and Trudeau haven’t changed need for radical climate action

The entire system must be put into question, not just who joins the new …