Peak oil – May 31

May 31, 2013

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

Oil guru says US shale revolution is ‘temporary’

Ajay Makan and Javier Blas, Financial Times
The oil trader known by rivals as “God” predicts the US shale revolution will only “temporarily” boost production and oil prices will remain high…
(29 May 2013)

A Black Mound of Canadian Oil Waste Is Rising Over Detroit

Ian Austen, New York Times
Assumption Park gives residents of this city lovely views of the Ambassador Bridge and the Detroit skyline. Lately they’ve been treated to another sight: a three-story pile of petroleum coke covering an entire city block on the other side of the Detroit River.

Detroit’s ever-growing black mountain is the unloved, unwanted and long overlooked byproduct of Canada’s oil sands boom.

And no one knows quite what to do about it, except Koch Carbon, which owns it…
(17 May 2013)
Link to report Petroleum Coke: The Coal Hiding in the Tar Sands

Analysis – Oil executives tune out the call of the wild Arctic

Balazs Koranyi, Reuters
The high Arctic, once the irresistible frontier for oil and gas exploration, is quickly losing its appeal as energy firms grow fearful of the financial and public relations risk of working in the pristine icy wilderness.

The Arctic may hold 13 percent of the world’s undiscovered oil and 30 percent of its gas, but a series of blunders and failures there are making executives fight shy of such a sensitive area and turn their attention back to more conventional resources and the shale revolution.

The turning point likely came on New Year’s eve, when Royal Dutch Shell’s drillship ran aground in rough waters off Alaska, setting off a public relations storm that inflicted much pain on the firm, made more acute by how little it had to show for the $4.5 billion (2.9 billion pounds) it has spent on the Arctic since 2005…
(31 May 2013)

The delayed oil impact of the ‘Arab spring’

Javier Blas, Financial Times
Oil production recovered faster than expected from the “Arab spring” of 2011 – but the delayed impact of the revolutions that swept across north Africa is now hurting supply growth forecasts…
(28 May 2013)

Oil drip image via shutterstock. Reproduced at with permission.

Tags: Arctic oil, Coal, peak oil, Tar Sands, tight oil