" />
Building a world of
resilient communities.

MAIN LIST

 

ODAC Newsletter - June 24

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 oil market was plunged into turmoil as the IEA announced it will tap its strategic reserve for only the third time ever. The agency had hinted in the past months that it might be prepared to release stocks to offset the shortfall in production from the Libyan crisis, to calm prices and avoid a "hard landing" for the global economy. But it was widely expected that Saudi Arabia was to be given time to make up the difference. Instead the IEA will release 60 million barrels over the next 3 months in order to "bridge the gap" until new OPEC or Saudi supplies are available.

Prices dropped sharply — as intended — and Brent ended Thursday at $107/barrel. Whether the action can balance the markets in the longer term however is surely in doubt. There is no end to the Libyan conflict in sight, and so far oil prices have remained stubbornly high even in the face of weak economic data including the Greek debt crisis stalking the Eurozone. Everything rests on Saudi Arabia being able to deliver the extra capacity — although many doubt it can, at least not in time. Their announcement suggests even the IEA agrees.

In the UK this week the government published a clutch of National Policy Statements making the case for new energy infrastructure — fossil plants, renewable and gas and electric grids - and a list of eight sites proposed for new nuclear stations. The papers are intended to guide planning authorities about the national interest when considering new energy infrastructure projects. There is much to be welcomed in the documents, but it remains to be seen if they will clear local resistance to energy infrastructure. As part of its localism agenda, the coalition intends to abolish the last government's Infrastructure Planning Commission, which was meant to take major energy decisions out of the local planning system. So there remains the risk that strategic decisions on new energy investment could get bogged down in local issues and NIMBYism — although the final decision now rests with the Secretary of State.

View our Reports and Resources page

Oil

Oil Rises on Concern IEA Emergency Crude Release May Limit Future Supplies

Back to top

Markets dive on growth fears, shock drop in oil prices

Back to top

Ahmadinejad loses fight over oil portfolio: parliament

Back to top

Transocean blames BP for 2010 gulf oil spill

Back to top

Head of IEA pleads with Russia: join us to help solve energy price crisis

Back to top

In Rebuilding Iraq's Oil Industry, U.S. Subcontractors Hold Sway

Back to top

Gas

'Fracking' Disclosure to Rise

Back to top

Gazprom Chases China Pipe Dream

Back to top

Shell floats plan to harvest stranded gas

Back to top

Nuclear

Saudi Thirst for Oil Fuels Nuclear Plans

Back to top

The timebomb of ageing US nuclear reactors revealed

Back to top

German energy plan seen as 'viable'

Back to top

After Inspections, China Moves Ahead With Nuclear Plans

Back to top

Tepco Suspends Water Treatment Operation

Back to top

Renewables

Chile court blocks giant Patagonia dam project

Back to top

UK urges Ireland to build windfarms on west coast

Back to top

Price of solar panels to drop to $1 by 2013, report forecasts

Back to top

Mining and Minerals

Rare earth prices soar as China stocks up

Back to top

Biofuels

KLM plans to fly planes on reused cooking oil

Back to top

Honeywell Demo Flight Seeks to Generate Momentum For Aviation Biofuels

Back to top

UK

Nuclear power plant site plans released by government

Back to top

Welsh Government restrictions on wind farms rebuffed

Back to top

Green houses: Lowering your carbon footprint starts at home

Back to top

CO2 pipeline proposals bring Scottish CCS closer to reality

Back to top

Climate

UK says Poland blocked EU deal on CO2 emissions

Back to top

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Make connections via our GROUPS page.
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.


Energy Crunch: The end of business as usual for fossil fuels?

It’s the end of business as usual for fossil fuels. That’s …

Peak oil notes - April 17

A mid-week update. Oil prices in London have risen this week on concerns …

Climate Panel Stunner: Avoiding Climate Catastrophe Is Super Cheap — But Only If We Act Now

The U.N. Intergovernmental Panel on Climate Change (IPCC) has just issued …

Kashagan – Back to the drawing board?

The recent shutdown of Kashagan oil field in Kazakhstan represents one …

King Coal Is Dying a Slow Death in America

In cities choked by pollution and a world coming to grips with the realities …

Peak Oil Review - Apr 14

A weekly review including: Oil and the Global Economy, The Middle East & …

Did crude oil production actually peak in 2005?

Haven't we been hearing from the oil industry and from government and …