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ODAC Newsletter - Apr 29

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.

Rising petrol prices and huge oil company profits combined to put pressure on President Obama this week. Prices are reaching around $4.00/gallon, levels not seen since 2008 and a psychological barrier for many Americans whose entire infrastructure is designed around the motor car.

President Obama finds himself in the firing line on fuel prices for two reasons: the promised economic recovery is proving slow in coming, and oil companies and Republicans blame him for holding up US oil production due to the drilling moratorium he imposed following the Deepwater Horizon disaster.

The political response to high oil prices in the US, along with the arguments about fuel duty in the UK clearly demonstrate the pitiful state of public debate around oil. It continues to be all about politics and geopolitics, rather than any consideration of resources limits.

In an interview for Australia's ABC television this week, the IEA's Fatih Birol said governments are not doing enough to avoid an oil crunch, and more interestingly admits that he is not confident that all the potential oil included in the IEAs forecast will actually "be developed and brought to the market in a timely manner". Also well worth watching are ODAC trustee Chris Skrebowski's interview and Uppsala Professor Kjell Aleklett on what is wrong with the IEA projections.

View our Reports and Resources page

Oil

Exxon and Shell see profits boosted by high oil prices

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BP first-quarter profit up 17% despite spill damage

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Billionaire hints Russians may sell TNK-BP stake

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Putin Revokes Export Breaks for TNK-BP, Rosneft on Oil Price

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Oil Slips for Second Day on Concern High Prices to Curb Growth

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G20 investigates agencies over oil price transparency

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USA

Boehner questions tax breaks for oil industry

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Gas Price Surge Triggers Political Brawl

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High gas prices cut into driving habits — and Obama's approval rating

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Gas

Shale Drilling Faces Crackdown

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US gas well contained, but concerns rise on 'fracking'

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China takes step towards tapping shale gas potential with first well

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Pipeline Blast in Sinai, Said to Be Sabotage, Cuts Gas Supply in Israel and Jordan

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Europe will get first Nord Stream gas in Oct-Nov: Putin

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Coal

Is peak coal coming?

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Nuclear

Radiation Readings in Fukushima Reactor Rise to Highest Since Crisis Began

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Thousands march against nuclear power in Japan

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Chernobyl anniversary: Medvedev seeks nuclear rules

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Biofuels

IEA: Biofuels Could Meet a Quarter of Transportation Fuel Demand By 2050

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UK

Solar power: a niche or serious energy source for the UK?

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CBI calls for end to delays on renewable energy

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Fuel protesters could bring UK to standstill

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Geopolitics

Syria: EU push for UN condemnation fails

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Putin Says NATO Strikes Destroying Libya, Violate Mandate

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Transport

Biggest US airlines have combined 1Q loss over $1B

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Plymouth City Airport to close in December

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Vauxhall boss warns over UK carmaking future

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What do you think? Leave a comment below.

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