Insight and inspiration in turbulent times.
Promoters of big centralized power generation schemes often justify their plans by invoking economies of scale. That logic made sense at a time when economic expansion and abundant resource supplies defined the framework for all economic activity, electricity generation very much included; in a post-abundance world, what were once economies could very easily turn into something else.
Newly accessible natural gas from deep shale deposits around the world has been touted as a solution to everything from oil dependence to climate change. But our actual experience with shale gas extraction is telling another story.
A midweekly roundup of peak oil news, including:
-Developments this week
The world oil production data below tell a story about: 1) nations that are past peak, because of geologic limits (e.g., US, Norway, etc.) or other reasons; and 2) nations that have yet to peak, or if they have peaked it is not yet clear.
Oil is often described as ‘the life-blood’ of modern society. It is as vital to our globalized economy as water is to the human body. A reduction in supply of only a few percentages could create difficulties throughout the entire system. Further reductions could lead to a complete failure of critical systems.
When the Saudi oil minister speaks to the world’s business reporters, one cannot rely that his words will later match the kingdom’s official reports to international statistical agencies. Whether through sloppiness or otherwise, at least one of Mr al-Naimi’s statement and the Saudi report were in error to the tune of almost half a million barrels a day — more than five percent of production — at a time when oil markets are critically seeking signals of Saudi intentions and capabilities.
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Saudi Arabai
-China
Traditional price hawks Iran and Venezuela ganged up with Libya, Algeria, Angola, Ecuador, Venezuela and Iraq to defeat the increase, proposed by Saudi Arabia, the UAE, Kuwait and Qatar, with voting largely determined by the distribution of spare capacity.
One key component of the Plan B climate stabilization strategy is solar energy. Solar is even more ubiquitous than wind energy and can be harnessed with both solar photovoltaics (PV) and solar thermal collectors.
Despite the plans of major electricity users around the world to pull away from nuclear power after Fukushima, Saudi Arabia has announced that it’s planning to start building power reactors at a breakneck pace. This could be yet another sign that Matt Simmons was right about the Saudi oil peak, signalling the beginning of the end of the Oil Age. But we have to wonder if the Oil Sheiks can control their new atomic toy.
I was recently asked to participate in an energy roundtable at Focus on China’s Energy Future and the Shale Gas Question. It is no secret that I feel that China’s moves stand to continue sending shock waves through the energy markets over the upcoming years. In fact, energy news from China warranted inclusion in My Top 10 Energy Stories of both 2009 and 2010. In 2009, I stated my belief that “China will be the single-biggest driver of oil prices over at least the next 5-10 years.” In 2010, the news was reported by the International Energy Administration (IEA) that China had become the world’s top energy consumer. BP confirmed this in their just-released Statistical Review of World Energy 2011.
A midweekly roundup of peak oil news, including:
-Developments this week
