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Interview: Energy Investor Bill Powers Discusses Looming Shale Gas Bubble
Bill Powers, DeSmogBlog
On Sat., April 27, I met up with energy investor Bill Powers at Prairie Moon Restaurant in Evanston, IL for a mid-afternoon lunch to discuss his forthcoming book set to hit bookstores on June 18. The book’s title – "Cold, Hungry and in the Dark: Exploding the Natural Gas Supply Myth" – pokes fun at…
(8 May 2013)
Availability of oil in the long term is dubious, as oil prices could in fact retreat, helping the tanker market
Staff, Hellenic Shipping News
The finite supply of oil could result in a highly unstable market environment if the oil market reaches its peak. According to a recent report from market analyst’s Poten & Partners, "conservationists and industry have been at odds over the ability of crude oil to continue to serve as a primary conduit for meeting the energy needs of an ever-expanding population and associated economic output almost since the inception of commercial-scale crude oil production. Although preceded by other doomsayers, the theory of “peak oil” is most frequently associated with “Hubbert’s peak,” which argues that oil production rates generally follow a bell-shaped curve, tapering off once infrastructure investment reaches a point of diminishing returns and the resource begins to be depleted. While production has struggled in some regions (notably in the North Sea), a common argument among commodity analysts of late has been that we are approaching not “peak oil” in a supply sense, but rather “peak demand”, the report stated…
(10 May 2013)
Shale Oil And Gas: The Contrarian View
Robert U. Ayres, Forbes
No one is questioning the fact that we have either reached or will soon reach “peak oil”; that existing fields are being depleted at the rapid rate of 7 percent a year, and that the search is on for “unconventional oil” as alternative forms of energy are slow to reach critical mass… But the big change in the last two decades is shale gas and “tight oil” – a liquid, trapped in shale (rock), where it doesn’t flow naturally but can be extracted by horizontal drilling and “fracking”. Fracking uses high-pressure water to fracture the shale and then chemicals that reduce the viscosity of the oil trapped in the interstices of the rock and allow it to flow.
The real question yet to be answered is how much energy is required to extract that gas or oil? Will it be more, for example, than the energy required to extract oil from Canadian tar sands?…
(8 May 2013)
Oil barrel drip via shutterstock. Reproduced at Resilience.org with permission.