Oil, Gas and CCS – June 19

June 19, 2012

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Energy expert Byron King on peak oil, natural gas and rare earth

Capital Account, RT News
Agora Financial’s energy expert Byron King says the worlds largest oil fields are depleting and global discovery rates are NOT keeping up. So what’s the future of energy? Are green energy players losers without subsidies? Can anything compete with natural gas when its price is so low?…

(15 June 2012)
Recommended by Michael Lardelli.

Chart of the week: a picture of world oil

Rob Minto, FT Alphaville Blog
Oil is crucial to the world’s energy supply, representing a third of global energy consumption – the largest component.

So who produces it, who uses it, who has it? And how do emerging markets compare to developed economies? Chart of the week takes a look…Chart and commentary at original
(18 June 2012)

Europe shale push shaken by Exxon’s Poland pullout

Maciej Onoszko, Reuters
Europe’s most ambitious shale gas plans were in disarray on Monday after U.S. major ExxonMobil announced it would pull out of exploration projects in Poland.

Poland’s lucrative reserves had spurred hopes of transforming Europe the way a shale boom has left the United States brimming with supplies, potentially turning the Poles into net gas exporters.

That was until March, when a government report revealed the country’s likely reserves were about one-tenth the size of previous estimates.

At the weekend, Exxon, which earlier this year cautioned that commercial production of Polish shale was at least five years away, said it would not go forward with exploration…
(18 June 2012)

‘Carbon capture’ too risky, earthquake prone: US study

AFP, Dawn.com
A proposed method of cutting harmful carbon emissions in the atmosphere by storing them underground risks causing earthquakes and is unlikely to succeed, a US study said on Monday.

The warning came in a Perspective article in the Proceedings of the National Academy of Sciences, just days after another independent US study warned that carbon capture and storage (CCS) risked causing earthquakes.

CCS is currently considered a “viable strategy” by the UN Intergovernmental Panel on Climate Change for pollution control from coal-based electrical power generation and other industrial sources of carbon dioxide, said the PNAS study.

But while no large-scale projects are yet under way, the huge volume of fluid that would need to be stored below ground for long periods of time make the notion unrealistic, argued the study by experts at Stanford University in California…
(19 June 2012)
Link to report abstract

Tags: Energy Infrastructure, Energy Policy, Fossil Fuels, Natural Gas, Oil