Insight and inspiration in turbulent times.
Our industry is at a crossroads. In the past few years, oil supply has struggled to keep pace with demand. But the financial crisis has reduced demand by 2 million barrels per day, creating excess inventories and lower prices. But once economic growth recovers, it is likely we will return to the market conditions of one year ago. The price of $140 per barrel oil was not an aberration; it was a warning.
“Peak oil can be a very tricky topic, the way I talk about it and deal with it at the end of the day is: We need to revolutionize the way we consume and produce energy… We need to really be the leaders in saying: the future for our children and our grandchildren as far as energy consumption and as far as production, it looks like this” with those words Colorado Governor Bill Ritter started his closing speech at the ASPO conference in Denver that took place from 10 to 12 October 2009.
-When Black and White Aren’t Black and White
-Vatican thumbs up for Karl Marx after Galileo, Darwin and Oscar Wilde
-Honey and Salt
-How to deal with climate change grief
A weekly review including:
– Production and prices
– Iraq
-China’s ‘carbon intensity’ commitment means nothing
-Let’s Try Cap-and-Trade on Babies
-Illusions on the edge of a precipice
-How to stop doubting and love the climate models
-Baffin Island reveals dramatic scale of Arctic climate change
-The Economic Case for Slashing Carbon Emissions
-The Cold we Caused
Developing a sustainable agriculture is a necessary part of creating a sustainable society. The root of the word sustainable is the verb, to sustain, which means to nourish and prolong. In social and environmental contexts we say something is sustainable when we believe it can persist indefinitely without exhausting resources or causing lasting damage.
So far in this series of technical talks, I have tried to explain some of the pieces that have to be put together to get crude oil or natural gas out of the ground. I intend to go on with the series in the coming weeks, but thought that today I would put some of the different thoughts that I have talked about recently together. So I am going to talk a little about reserve calculations and production and will use an example to show how the numbers are derived. And again, let me stress that this is a very simplified example. It is also only somewhat fictionalized, as I shall comment at the end.
A decade ago, Scientific American published the seminal article by these two luminaries of the Peak Oil awareness movement, that relaunched the debate on M. King Hubbert’s finds, Scientific American appears now as a completely different publication. Now, however, scientific content doesn’t seem to be a requisite for its articles. Among other eerie details, Leonardo Maugeri goes as far as citing “Common Wisdom” to present erroneous facts.
-Government failure to acknowledge the looming oil supply crunch threatens the climate and risks international conflict
-UK Report Warns of Oil Shortage
-Key report aims to tackle global peak oil crisis
-Fossil Fuels’ Hidden Cost Is in Billions, Study Says
-Will EPA veto or regulate the plunder of Appalachia?
-Global Warming Accelerating While The U.S. Backpedals
-Supply and Debate
-The Next Oil Crisis is Just Ahead
-Oil prices hit high but report warns of supply crunch
-Anthropological Field Guide to Common Peak Oil Debate Participants
A weekly roundup of peak oil news, including:
-Production and prices
-Another price spike?
-ASPO-USA Conference
-Briefs
