Insight and inspiration in turbulent times.
In the past twelve months, ethanol exports from the United States have increased from 4 million gallons in March of ’09 to 46 million gallons in March of this year to places like United Arab Emirates, Brazil, Canada, and the Netherlands. This year’s March figure is about 4 percent of the 12 billion gallons mandated for domestic biofuel use this year. Ethanol producers are thrilled.
-Reflections on an Oil Spill: A New Orleans Native Speaks Out
-Fishgrease: DKos Booming School
-Human Health Tragedy in the Making: Gulf Response Failing to Protect People
-Screw the Environment: BP and the Audacity of Corporate Greed
In an interview with Yale Environment 360 senior editor Fen Montaigne, Orr talked about the current battle over climate and energy legislation, President Obama’s missed opportunity to use his “bully pulpit” to educate the public about global warming, and what he calls the right wing’s “unconscionable misuse” of the airwaves to spread lies and misinformation about climate change.
Bear with me. I’ll get to the oil. But first you have to understand where I’ve been and where you undoubtedly won’t go, but Shell’s drilling rigs surely will — unless someone stops them.
Events like oil spills, the “flash crash,” volcanos, and floods will have an increasing impact on the economy and the availability of capital. Unfortunately, most money managers and other strategists do not include these factors in their plans and decision processes. They should.
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Deepwater horizon
-Repercussions
-Sanctions on Iran
-Quote of the Week
-Briefs
The blowout and oil spill on the Deepwater Horizon in the Gulf of Mexico was caused by a flawed well plan that did not include enough cement between the 7-inch production casing and the 9 7/8-inch protection casing. The presumed blowout preventer (BOP) failure is an important but secondary issue. Although the resulting oil spill has potentially grave environmental implications, recent efforts to limit the flow with an insertion tube have apparently been effective. Continuous efforts to slow or stop the flow include drilling two nearby relief wells that may intersect the MC 252 wellbore within 60-90 days.
Oil prices fell below $70/barrel this week before recovering slightly. The drop reflected market nervousness about the gravity of the Euro crisis and its potential impact on the global economy, coupled with continued high US crude oil stocks. In the meantime all eyes continue to be focused on the Gulf of Mexico where challenges to BP’s estimate of the size of the oil spill is further damaging the credibility of the company…
A midweek roundup of peak oil news, including
-Prices and production
-Deepwater Horizon
-Iranian nuclear fuel
-BP bows to demands from Congress and scientists for live feed of oil leak
-Gulf spill reminds America: The era of ‘easy oil’ is over
-How the global oil watchdog failed its mission (1/3)
Hayward is apparently completely unaware of the growing realization by everybody else that his monomaniacal quest for cost-cutting, corner-cutting, and profits was the proximate cause of this disaster, which, it must be pointed out, killed 11 people.
One of the most stunning outcomes of the now month-long oil spill in the Gulf of Mexico is the utter reversal of corporate images it has generated. At once, Exxon — for two decades tarred as the callous, greedy and dirty culprit in the Valdez oil spill in Alaska — is regarded in expert circles as the squeaky clean, state-of-the-art, cutting-edge model of safe, environmentally friendly oil drilling. And BP — which spent tens of millions of dollars under former CEO John Brown successfully branding itself as the green, publicly interested conscience of the industry — is now the poster child of the devil-may-care, dollar-grubbing, environmentally and labor unfriendly oil company.
