" />
Building a world of
resilient communities.



ODAC Newsletter Feb 3

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.

High oil prices ensured that profits at the major oil companies rose again in 2011 — Shell's full year profits leapt 54% to $28.6 billion while Exxon's increased 35% to $41.1 billion. With this kind of money at stake it is no surprise it is almost impossible to get a sensible debate about our energy future. Yet despite the growing self-congratulation and bombast surrounding unconventional oil and gas the oil companies are struggling to maintain production levels, let alone increase them. Exxon's oil equivalent increased 1% year on year, while Shell returned to its almost uninterrupted decline of the last decade.

One takeaway from the annual statements is the growing focus of the majors on natural gas as crude oil becomes harder to replace. Rising gas production along with a warm winter in the US has led to near record low gas prices. The race is now on to develop shale gas in Europe and China, though initial forays by Exxon in Poland expected to be one of Europe's major producers, have not yet lived up to expectation. The industry's other priority is to open up a more global market for gas — for example moving surplus US production to Europe.

There are however several obstacles to these plans over and above whether the gas can be commercially produced: moving gas long distances means liquefying it requiring additional infrastructure and expense; there are as yet many unanswered questions regarding water safety and pollution which could yet slow down shale production or add costs; and though gas has lower emissions than coal - the jury is still out on whether this also applies to shale gas - increased use of unabated gas will blow emissions targets.

Another interesting aspect of oil company statements is the yawning disconnect between their views and those of the authorities on alternative transport fuels. On electric vehicles, BP & Exxon expect around 4% penetration by 2030, while the British government targets 60%. On biofuels, the EU will issue a report in the next few weeks about worries that they may increase rather than cut emissions, and yet biofuels were the only alternative mentioned Shell CEO Peter Voser's presentation to shareholders. Clearly the radical changes required to secure our energy future will not be delivered by the big incumbents.

View our Reports and Resources page


Exxon profit tops $41-billion, despite shaky production

Back to top

Shell plans production expansion as profits rise

Back to top

Insight: Oil Industry Sees No Threat From Electric Car

Back to top

World lacks enough food, fuel as population soars-UN

Back to top

Davos grapples with surging demand for fuel, food

Back to top

Will fossil-fuel giants be bailed out like the banks?

Back to top

Oil Near Six-Week Low Before Jobs Report; Brent Premium Widens

Back to top

North Sea oil leak halts 15pc of BP's UK production

Back to top


The shale gas reality check out of Europe

Back to top

Fracking does not need more regulation, report says

Back to top

Gazprom struggles to meet peak gas demand in Europe

Back to top


Japan emissions rising after atomic crisis: report

Back to top

Nuclear disaster prompts rise in renewable deals

Back to top

Mining and Minerals

Rare minerals dearth threatens global renewables industry

Back to top

Malaysian opposition says would scrap rare earths plant

Back to top


Government must step in from the sidelines of shale gas debate

Back to top

Ministers 'misled MPs over need for nuclear power stations'

Back to top

Grassroots green projects 'are way to low-carbon UK'

Back to top

Fuel poverty protesters occupy British Gas offices

Back to top


EU climate chief calls for 'much care' on biofuels

Back to top

EU Biofuels Targets to Cost Consumers $166 Billion, Study Says

Back to top

California fuels rule sparks controversy

Back to top

EU takes next step in making airlines pay for carbon

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.

North-west China Water Supply Impacted by Vegetation Restoration

The nexus perspective emphasizes the interdependencies of environmental …

Honeybee Collapse is the Result of Their Enslavement in Industrial Monocultures

The problem of Colony Collapse Disorder is a symptom of transient …

We Are Seneca Lake: Josh Fox & Fracking Opponents Fight Natural Gas Storage Site in Upstate NY

With over 250 arrests and counting, We Are Seneca Lake is becoming one of …

Resilience Roundup - May 22

 Shell’s Arctic voyage marks beginning of peak oil era...

Albert Einstein, Soil, Honey Bees and Biodiversity

Among the manifold quotes that are attributed to Albert Einstein, are …

California State of Emergency: Up To 105,000 Gallons of Oil Spill in Santa Barbara from Plains All American Pipeline

Up to 105,000 gallons of oil obtained via offshore drilling have spilled …

Hijacking the Anthropocene

How the anti-green ‘Breakthrough Institute’ misrepresents …