Building a world of
resilient communities.

MAIN LIST

 

Oil - July 18

Click on the headline (link) for the full text. Many more articles are available through the Energy Bulletin homepage


«Denying the imminence of Peak Oil is a Tragic Error », says ex- IEA petroleum expert

Matthieu Auzanneau, Oil Man blog
What is there in the report published by Leonardo Maugeri that justifies the announced “revolution” which, according to the former director of the Italian group ENI, will make the impending specter of decline in the production of ‘black gold’ vanish?

Nothing at all says Olivier Rech, who was in charge of prospective petroleum strategy at the IEA from 2006 to 2009. His response follows, laid out in seven points, all supported by his historical analysis of the rate of decline in existing petroleum production, presented here for the first time.

Today Mr Rech is the Director of Energy Funds Advisors, a consulting company providing expertise for La Française AM, a major Parisian asset management firm. He has already predicted on this blog that a decline in the production of oil and its substitutes will occur somewhere between 2015 and 2020...
Translation by James Anglin
(9 July 2012)
Link to French original



Oil prices could be rigged by traders warns G20 report

BBC Online
A report commissioned by the G20 group of the world's biggest economies has warned oil prices could be vulnerable to a Libor-style rigging scandal.

According to the International Organization of Securities Commissions (IOSCO), the current system of oil price reporting is "susceptible to manipulation or distortion."

Benchmark prices are compiled by price reporting agencies. The biggest, Platts, says "there is absolutely no similarity" between Libor and oil.

Trillions of dollars of securities and contracts are based on these oil and gasoline prices...
(16 July 2012)
Link to paper



Shell's Arctic Drilling Venture Stumbles Toward Reality

Tom Zeller Jr, Huffington Post
Royal Dutch Shell, the global energy giant, has already invested more than $4 billion in its Arctic drilling venture, but that was apparently not enough to purchase proper mooring in Alaska's Dutch Harbor and avoid a subsequent public relations mess.

Precisely what happened is still being sorted out. Official accounts had the Noble Discoverer, one of two massive drilling rigs that Shell had parked midway up the Aleutian Island chain, dragging anchor in stiff winds over the weekend before coming to a halt 100 yards offshore.

Locals, including a shutterbug harbor captain, disputed that scenario and lit up Twitter and Facebook with photographs showing the rig all but on the beach.

"There's no question it hit the beach," Kristjan Laxfoss, the harbor captain, told The Associated Press on Sunday. "That ship was not coming any closer. It was on the beach."...
(17 July 2012)

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.


Shale Gas Reality Check

Recently, the EIA released its Annual Energy Outlook 2015 and so we asked …

The Community Energy Revolution

Impact investing is investing to achieve a return in something you also …

Peak Oil Review - July 27

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

Energy Crunch - Green taxes: love or hate?

Green taxes have been under attack on all fronts lately.

Nine Reasons Why Low Oil Prices May “Morph” Into Something Much Worse

Why are commodity prices, including oil prices, lagging? Ultimately, the …

Peak Oil Review - July 23

As prices continue to fall, concerns are increasing on Wall Street as to the …

A Look at the West Virginia University Assessment of Technically Recoverable Gas in the Utica Shale

Last week, members of the media breathlessly reported that the Utica Shale …