" />
Building a world of
resilient communities.

MAIN LIST

 

ODAC Newsletter - Feb 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.

Iran's announcement on Sunday that it was cutting off oil sales to Britain and France ahead of the EU embargo sent Brent crude oil prices soaring to a 9 month high of $124/barrel and an all-time UK high of over £78. The price of oil is now firmly back in the news alongside a rash of articles rejecting peak oil, declaring imminent US energy independence, and discussing the changing balance of geopolitical power away from OPEC.

For some interesting perspective on the 'peak oil is over' story, most recently expounded by a Citigroup report, take a look at the fascinating debate between John Hofmeister former President of Shell vs Dr. Tad Patzek, incoming president of the Association of the Study of Peak Oil (ASPO). Patzek argues compellingly that oil reserves, especially non-conventional reserves, don't equate to oil production and that it is global production in the face of rising demand that matters. Hofmeister appeared to have taken at least some of this on by the time he was interviewed by CNBC this week — "Demand globally is not down. That's the issue. Demand continues to rise in Asia and whether we use less or not, doesn't matter. The price is going up because supply can't keep up with the demand". For more on US oil prospects see 'Energy independence, or impending oil shocks?'.

Al Jazeera had a feature article on peak oil this week which focused on the insecurity behind OPEC reserve figures — with so much reliance on Saudi spare capacity it was interesting to note this week that Saudi Aramco is to reopen its oldest oilfield which it closed in the early 80's — the field is relatively small (500 million barrels), and contains heavy oil. Saudi oil exports and production for December 2011 reportedly fell from November's 30 year record.

In other news the EU's controversial vote on whether to label oil from the tar sands as highly polluting failed to reach a majority decision— the decision will now be referred to ministers. In the UK Prime Minister David Cameron defended that government's onshore wind policy in a response to 100 backbench MPs who had recently published an open letter challenging the policy. Meanwhile marine renewables received a ringing endorsement from the Commons Committee on Energy and Climate Change. The Committee urged the government to adopt policies to exploit the UK's position as the world leader in the field.

View our Reports and Resources page

Disclaimers

Oil

Oil reaches record euro high on Iran

Back to top

Threat to economy could force IEA to release oil: Kemp

Back to top

Has the United States beaten peak oil? Not so fast.

Back to top

Energy independence, or impending oil shocks?

Back to top

Interview with ex-Shell CEO Hofmeister

Back to top

Oil: In perpetuity no more

Back to top

Saudi Aramco to Re-Open Oldest Field to Tap Heavy Oil, EIU

Back to top

Saudi Arabia Cut Oil Output, Exports in December, JODI Says

Back to top

Venezuela's oil industry: Spilling over

Back to top

Shell Clears Major Hurdle in Its Bid for New Arctic Drilling

Back to top

Gas

Natural-Gas Glut Could Bypass Europe

Back to top

Gas-Fracking Ban in Upstate New York Upheld by State Court Judge

Back to top

Nuclear

Hendry: UK's nuclear reactor fleet could be extended beyond 2025

Back to top

Centrica faces big questions on nuclear despite Franco-British summit

Back to top

Renewables

Europe's Biggest Solar Power Incentive Bolsters Ukraine: Energy

Back to top

China Energy Consumption Rises at Fastest Pace in Four Years

Back to top

UK

Britain must act fast to rule wave-power world

Back to top

Gas Swings at Two-Year High Expose U.K.'s LNG Dependence: Energy Markets

Back to top

Drax mixes up biomass plan with mooted £700m co-firing project

Back to top

David Cameron defends windfarm plans to Tory MPs

Back to top

British Gas owner stokes profit anger

Back to top

Climate

EU tar sands fight not over, experts at stalemate

Back to top

Cut all fossil-fuel use: scientists

Back to top

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Start your own projects. See our RESOURCES page.
Make connections via our GROUPS 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.


Peak Oil Notes - Mar 5

A midweek update. Oil prices have been volatile this week as traders attempt …

The Paradox of Oil: The Cheaper it is, the More it Costs

While the exact timing of the current fall in prices may have come as a …

Stranded Assets in Oil and Gas a Reality

Though climate change will no doubt prove to be one aspect of stranded …

IEA report: US shale oil growth practically zero in 2017

US growth is seen to decline to a meagre 160 kb/d by 2017. That is plausible …

Richard Heinberg on Our Renewable Future

Richard Heinberg discusses our renewable future and how to get there.

Peak Oil Review - Mar 2

A weekly roundup of peak oil news, including: -Oil and the global economy …

Oil Prices Don’t Change Because of Rig Count

Oil prices don’t change based on weekly rig count reports. Yet every …