If you haven’t been paying attention, U.S. crude oil + condensate production reached a peak in 2019 at 12.29 million barrels/day (mb/d) on an annual basis.
The Gulf of Mexico is littered with tens of thousands of abandoned oil and gas wells, and toothless regulation leaves climate warming gas emissions unchecked.
This week, a federal court overturned the Trump administration’s approval for what would have been Alaska’s first drilling project in federal waters, citing faulty analyses of how the Arctic oil and gas facility would affect the climate and polar bears.
Seismic surveys involve an underwater air gun pulled behind a boat and fired at intervals, and as the shock waves bounce off the sea floor and return to sensors, they help reveal where oil and gas might be.
Each new technology, regardless of benefits,brings its own risks. In many complex situations where there are multiple questions with poorly constrained answers, it is folly to expect that we can use formal risk assessments to guide current actions.
Global Challenge: Recently, new data on available oil reserves, new deep-water deposits, oil sands and especially "shale gas" has given rise to concerns about what these resources means from a climate perspective. The seminar "Peak Oil Postponed?" Aims to analyze the importance of these tasks.
Last winter, fossil-fuel enthusiasts began trumpeting the dawn of a new “golden age of oil” that would kick-start the American economy, generate millions of new jobs, and free this country from its dependence on imported petroleum. It turns out, however, that the future may prove far more recalcitrant than these prophets of an American energy cornucopia imagine.
It’s easy for discussions about future crises to remain stuck in a realm of abstractions that never quite get down to talking about the lived reality of events as they happen. The toolkit of narrative fiction is one of the few useful ways to get past that roadblock of the imagination. This week’s post, therefore, is the first of a five-part series providing, in fictional form, a glimpse at one way the American empire could go the way of Nineveh and Tyre.
An update is warranted to address comments from friends and followers – comments such as “Gee, I guess Peak Oil has been postponed?”, or “I guess we don’t have to worry about Peak Oil anymore!” Often they have a smile on their face …
The shale oil plays will reduce but not eliminate our reliance on foreign oil. Should a supply disruption occur over the next decade, we will be better off having this production than not. The natural gas and NGL from these plays will provide high-quality, low-carbon heat energy for electricity as well as feedstock for plastics – which could help jumpstart manufacturing.
Overall, these plays don’t solve the much larger issue of Peak Oil, but they do help “buy time.”
When you go to the mountains, you go to the mountains. When it’s the desert, it’s the desert. When it’s the ocean, though, we generally say that we’re going “to the beach.” Land is our element, not the waters of our world, and that is an unmistakable advantage for any oil company that wants to drill in pristine waters.
Deepwater oil production will help reduce the decline in world oil production from aging fields. The IEA claims that four Saudi Arabias need to be discovered up to 2030 to replace the present decline in production (about 5 %/a). The deepwater ultimate is likely to represent less than half of Saudi Arabia’s oil ultimate. It is not enough!
– Thomas Homer-Dixon: Exploring the climate “mindscape” (oil supplies and energy junk)
– Government influence is negative for energy fuel policy
– The German Switch from Nuclear to Renewables
– Scientists’ Arctic drilling plan aims to demystify undersea greenhouse gases
– Ancien directeur de TOTAL: Nouvelles découvertes et gaz de schiste retarderont à peine le pic pétrolier