Of Economics, Resources & Energy
An off-planet view of economic theory and its applicability when dealing with limited primary resources.
Talisman Energy prepares to sharpen its drill bits
Those who believe that abundant deposits are waiting to be discovered are misguided, said Mr. Buckee, who holds a Ph.D. in astrophysics from Oxford University. “There is precious little in the world now that isn’t known about or hasn’t been tried,” he said. “I don’t think there is going to be any new Middle Easts or Saudis hanging around. There aren’t many unexplored basins.”
The Coming of Deindustrial Society: A Practical Response
The key to making sense of constructive action in a situation of impending industrial collapse is to look at the community, rather than the individual or society as a whole, as the basic unit…There are, however, three things a community needs to do…
China to build four major oil reserve bases
China will formally launch its strategic petroleum reserve program next year, as learned from related departments. An oil reserve base in Zhenhai, Zhejiang Province is now under construction, which will be able to hold more than 5 million cubic meters oil when its first-stage project is completed next year.
World oil demand estimate raised
The International Energy Agency has revised upwards its estimate of world oil demand, quashing hopes of an imminent decline in oil prices.
Oil and Empire in the Middle East
Henry Kissinger’s famous declaration that, “Oil is too important to be left to the Arabs” best expresses the experience of the Middle East over the last century.
UK: BP abandons small firms to concentrate on bigger picture
BP has decided to pull out of supplying small British manufacturers with industrial gas as thousands of businesses are being hit with a near-doubling of energy bills.
US developers see hope in abandoned oil wells
Production from “enhanced oil recovery” peaked at about 750,000 barrels a day in the early 1990s, and has fallen back slightly, with gas “flooding” now viewed as more economical than thermal methods, while chemical treatments have proved to be too expensive.
Saudi Arabia bitter over global taste for sweet and not sour oil
SAUDI ARABIA’s oil minister said his country was ready to pump more oil but it could not find buyers as the Kingdom’s high-sulphur crude was being rejected by Western refineries.
High Oil Prices Jump-Starting Exploration Efforts
With short-term oil prices currently above $50 per barrel and the futures markets predicting long-term prices of around $34 on five-year contracts, signs of a rebound in exploration efforts are suddenly popping up everywhere.
Venezuelan Ambassador: Peak Oil is good for Venezuela
Venezuelan Ambassador to the United Kingdom, Alfredo Toro Hardy writes: Everything seems to indicate that Venezuela is at the end of the tunnel and about to enter into a new period of prosperity.
How to Bring Down Civilisation
Derrick Jensen thinks the collapse of civilisation, be it deliberate or through oil depletion or any other means, can only be a good thing for the planet.
