Building a world of
resilient communities.

MAIN LIST

 

ODAC Newsletter Oct 26

Welcome to the ODAC Newsletter, a weekly roundup from the Oil Depletion Analysis Centre at nef dedicated to raising awareness of peak oil.

BP took a gamble this week, entering into partnership with the Russian state backed energy company Rosneft. The deal frees the company from a stormy relationship with its oligarch partners at TNK BP. At the same time, it effectively makes BP business partners with the Kremlin. The words frying pan and fire may spring to mind. The deal, which sees Rosneft take over the TNK subsidiary, while BP gains a 20% stake in the Russian company, demonstrates the huge risks that major oil companies are forced to take to feed the production pipeline.

While BP was busy on the eastern front, the signs from the wild west are that the bottom is falling out of the shale gas boom. The New York Times picked up the story this week in an article about the Haynesville formation. The tale is one of gold rush style land deals with "use it or lose it" drilling rights, which forced huge amounts of drilling at uncommercial prices. With the gas price now lower than the cost of production, the rigs have moved on to drill for oil where prices still comfortably cover average production costs. The estimates for how much oil can be produced at what cost vary wildly; see more on this at The Oil Drum.

In the UK the battle over energy policy continued this week. Ousted Energy Minister Charles Hendry warned in the Observer on the dangers of over reliance on gas for future energy security — in his view, there may be shale gas, but it won't come cheap. The Renewable Energy Association (REA) took up the fight releasing a briefing note on how renewables subsidies had added only 2% to energy prices in the last two years with gas prices driving much of the increase. Add to that the uncertainty over new nuclear where the lack of bidders looks to be pushing up the likely cost and forcing the government into crazy contortions to honour its no-subsidies pledge, and it is easy to see why Ed Miliband said that UK energy policy is "unravelling" — although it could hardly have been described as "ravelled" under New Labour. With so much political lobbying on the topic the message that the government is not into picking winners is wearing thin.

View our Reports and Resources page

Oil

BP's Bob Dudley risks an even grizzlier Russian bear hug

Back to top

Oil Set for Second Weekly Drop on Demand Outlook as Supply Rises

Back to top

Insight: Is Ohio's "secret" energy boom going bust?

Back to top

North Sea oil and gas licensing round 'successful'

Back to top

Saudi, Iran and Iraq clash over OPEC top job

Back to top

Gas

After the Boom in Natural Gas

Back to top

Putin tells Russian gas exporters to look east

Back to top

Nuclear

Future of UK nuclear power hangs in the balance, says EDF boss

Back to top

EON Withdraws From Finnish Nuclear Project on Price Slide

Back to top

Japan struggling to store radioactive water

Back to top

Government considers 'blank cheque' nuclear subsidies

Back to top

China to approve only "small amount" of nuclear reactors before 2015

Back to top

Renewables

Renewable subsidies add just £4 to energy bills, REA says

Back to top

WWF makes case for targeted renewables support

Back to top

Is the Chancellor preparing to cap new onshore wind farms?

Back to top

London Array seeks consent for 240MW extension

Back to top

Green energy would save EU trillions by 2050 -report

Back to top

UK public favours wind turbines over shale gas wells, poll finds

Back to top

Biofuels

Centrica bails on British biomass plants

Back to top

Algae biofuel not sustainable now-U.S. research council

Back to top

UK

Energy: We must mix to match future demands in Britain

Back to top

Big Energy Saving Week aims to stoke consumer interest

Back to top

Climate

US presidential debates' great unmentionable: climate change

Back to top

EU inflates CO2 achievement, ignores imports

Back to top

UK makes biggest emissions cuts in Europe

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.


Shales vs. solar: An investment perspective

But perhaps the real proof of a new energy paradigm shift lies in the fact …

Peak Oil Review - July 28

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

The Changing Face of World Oil Markets

My conclusion is that hundred-dollar oil is here to stay.

IEA Oil Market Forecast: Optimistic Assumptions And An Economy Unable To Grow Out Of Its Problems

The International Energy Authority does does its best to paint a rosy …

Energy Crunch: Global debate heats up

News that last month was the world’s hottest June on record provided …

Divest! - Then What?

Divestment is one of the great campaigns of our times.But the question then …

World Oil Production at 3/31/2014-Where are We Headed?

The standard way to make forecasts of almost anything is to look at recent …