Insight and inspiration in turbulent times.
-Why America should thank BP
-Nigeria’s agony dwarfs the Gulf oil spill. The US and Europe ignore it
-BP oil spill: Shares fall further
-BP’s OTHER Spill this Week
-The real cost of cheap oil
-What Will it Take to End Our Oil Addiction?
Two months ago the PBS show, “NOW,” examined the issue of hydraulic fracturing and its apparent environmental and health impacts. PBS built its story around the exceptional efforts of Josh Fox, the maker of the recent award-winning documentary, “Gasland.”
As the Deepwater Horizon rig disaster continues to unfold, the peak oil community has a “teachable moment” in which it can illuminate the reality of our energy plight. The public has had a crash course in the challenges of offshore oil, and learned a whole new vocabulary. They are more aware than ever that the days of cheap and easy oil are gone.
Following the failure of the latest efforts to plug the gushing leak from BP’s Deepwater Horizon oil well in the Gulf of Mexico, and amid warnings that oil could continue to flow for another two months or more, perhaps it’s a good time to step back a moment mentally and look at the bigger picture—the context of our human history of resource extraction—to see how current events reveal deeper trends that will have even greater and longer-lasting significance.
A weekly review including:
– Oil and the Global Economy
– Deepwater Horizon
– Quote of the Week
– Briefs
I used to deal with billionaires, managing their money, and some of them had $100,000,000, and all they wanted to do was to get to $200,000,000, and then quit. And then they got to $200,000,000, and they got to $500,000,000, et cetera, and I noticed at the same time that the clerks who were making $25,000 a year were just as happy as these billionaires. (YouTube and transcript from former editor of The Oil Drum)
The British economy is officially, technically growing. Growth figures in the region of 0.2% confirm that it is out of recession. But what does this even mean? After months and months, in which funny money was flowing off the printing presses of its central bank and its formerly neo-liberal state came to represent more than 50% of GDP, we can be forgiven for viewing such statistics as a hall of mirrors.
Flying dwarfs any other individual activity in terms of carbon emissions, yet more and more people are traveling by air. With no quick technological fix on the horizon, what alternatives — from high-speed trains to advanced videoconferencing — can cut back the amount we fly?
A midweekly roundup of peak oil news, including:
-Prices and production
-Deepwater Horizon
So the Queen’s Speech has set out the policy priorities for the new government, but were the policies announced a cop-out or do they set out a wartime mobilisation scale of response to climate change and peak oil? These reflections are based on the article about the speech that appeared in yesterday’s Guardian.
Twice now, in the fall of 2007 and the spring of 2010, the price of oil has risen past $80 a barrel, and each time a multinational debt crisis followed. Coincidence? Possibly, but it may also be a signal that the core thesis of The Limits to Growth — that the costs of growth on a finite planet will eventually rise faster than growth itself, and force the economy to its knees — may be about to demonstrate its validity the hard way.
Energy used by the US food system accounted for 80% of the increase in American energy use between 1997 and 2002, according to a recent report from the USDA’s Economic Research Service.
