Building a world of
resilient communities.

MAIN LIST

 

Oil - Jan 30

Click on the headline (link) for the full text.

HSBC: Oil majors at risk from 'unburnable' reserves

Will Nichols, Business Green
Oil and gas majors, including, BP, Shell, and Statoil, could face a loss in market value of up to 60 per cent should the international community stick to its agreed emission reduction targets, analysts at HSBC have warned.

A new report from the banking giant finds that 17 per cent of Norwegian company Statoil's reserves would become "unburnable" in a world where oil and gas use falls as countries seek to keep carbon concentrations in the atmosphere to 450 parts per million (ppm), the level the International Energy Agency (IEA) estimates is necessary to deliver a 50 per cent chance of limiting long-term temperature rises to 2°C.

Governments around the world have repeatedly committed themselves to ensuring average temperatures do not rise above 2°C, the level at which scientists warns atmospheric feedback loops could trigger "dangerous" climate change...
(29 January 2013)


When will we stop wasting fossil fuels by burning them?

Paul Brown, The Climate News Network via The Guardian
The penny had to drop eventually – fossil fuels like coal might be more valuable if they were used to make medicines, chemicals and fertilisers rather than wasted by being burned.

While we know that fossil fuels are used to make all sorts of everyday objects such as plastics, carbon fibre, soap, aspirins, solvents and dyes, it has never occurred to most of us how we will make these things when the coal, gas and oil run out.

To help concentrate minds on the potential waste of resources, the World Futures Council based in Munich, has attempted for the first time to put an economic price on burning fossil fuels rather than saving them for more "useful" applications...
(28 January 2013)
Link to report - The Monetary Cost of the Non-Use of Renewable Energies


Algeria terrorist attack puts BP's Libya drilling on hold

Robert Mendick, The Daily Telegraph
Plans for BP to begin drilling for oil and gas in Libya are in serious doubt in the aftermath of the terrorist attack on its gas production plant in neighbouring Algeria.

The company is to launch a review into drilling in the country amid serious concerns over security in the region.

BP signed a $900m (£569m) exploration and production agreement with Libya’s National Oil Corporation in 2007 but suspended the contract in February 2011 because of the civil war that eventually led to the overthrow of Colonel Muammar Gaddafi...
(26 January 2013)

Image credit: Oil well pump jacks - Richard Masoner/flickr

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.

Tags:  

The Most Important and Misleading Assumption in the World

Why should we make policy using economic models that don’t reflect …

How Can Fossil Fuel Supplies Be Constrained?

Academics gathered in Oxford this week to discuss how to constrain fossil …

As Nations Embrace Paris Agreement, World’s Existing Fossil Fuels Set to Exceed its Goals

Entitled “The Sky’s Limit: Why the Paris Climate Goals Require a …

Naomi Klein & the Let­down of the Leap Manifesto: Poli­tics Doesn't Trump Physics, Nor the Economics of Collapse (part 2/3)

Politics can be egalitarian when going up Hubbert's Curve, but it's a whole …

Carbon Tracker Analysis: ‘Renewables are Already Outcompeting Fossil Fuels’

Clean technologies are already cheaper, on average, than the incumbent …

Timeline: The Past, Present and Future of Germany’s Energiewende

The Energiewende (energy transition) is an internationally recognised …

The Sower's Way: the Path for the Future

Our paper on "The Sower's Way" has been published in the IOP …