Insight and inspiration in turbulent times.
-Fracking: Boom or Doom
-Deepening Doubts About Fracked Shale Gas Wells’ Long Term Prospects
-Gazprom Rethinks Shale as European Gas Prices Sink
-Britain’s bosses back shale gas to cut imports
-Fracking banned by Quebec government
A mid-week round-up of peak oil news.
It has now been more than 33 years since Jimmy Carter’s famous “malaise’ speech given in July 1979. As this speech is often cited as the beginning of the end for the Carter Presidency, no politician in the intervening years has seen fit to offer anything but an optimistic, upbeat outlook on the course of the nation and its economy.
The victory last year to stop the Keystone XL pipeline was a temporary victory. I guess all environmental victories are temporary, but this one was even more temporary than most. Mitt Romney has made it absolutely clear that if he wins the election his first duty, on his first day in office, will be to approve the Keystone XL pipeline. Barack Obama hasn’t said one way or another what he will do, but the signs aren’t particularly great.
In the old days, that is before 2010, the oil industry used to regale the public with tales of plenty that revolved around what is commonly called "conventional oil." Then in its 2010 World Energy Outlook, the International Energy Agency announced that the peak in the rate of production of conventional oil had already arrived, probably in 2006. The agency projected that production of so-called "unconventional oil" would grow considerably over the coming decades and allow total oil production to rise. But, new unconventional oil production may not be able to make up for the decline in the rate of conventional oil production. And, rate is the key metric.
This book continues the presentation of the Lovins perspective, essentially the claim that there is great scope for conservation measures and alternative technologies to solve our problems and enable maintenance of rich world economies and lifestyles. My notes indicate that it would be far too capital costly for the US to run largely on renewable energy.
Energy news was dominated this week by the growing controversy over shale gas in Europe and the UK…
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.”
Mitt Romney’s energy plan is devoted almost exclusively to increasing consumption of fossil fuels — completely ignoring dire warnings from scientists and energy experts that the “door is closing” on our ability to avoid irreversible, catastrophic climate change.
Under the Securities and Exchange Commission’s (SEC) new rule for oil and gas, companies have been allowed much greater freedom to book reserves. On the surface, there is a good argument to be made for expanding the definition of allowable booked reserves. But in practice, this may have opened the door to false valuations of shale assets.
-Wind could meet many times world’s total power demand by 2030, Stanford researchers say
-EU proposal would limit use of crop-based biofuels
-Indian blackout held no fear for small hamlet where the power stayed on
-Asia Risks Water Scarcity Amid Coal-Fired Power Embrace
-EOG Says U.S. Fracking Rule to Cost $1.5 Billion a Year
-Shale gas will not cut EU import dependence: study
-EU study sparks regulation debate over ‘high-risk’ shale gas
-Davey takes aim at shale gas lobby with defence of Energy Bill
-California fracturing takes less water than Texas
