Peak oil review – Sept 10
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Middle East
-The Eurozone crisis
-Quote of the week
-Briefs
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Middle East
-The Eurozone crisis
-Quote of the week
-Briefs
Has OPEC misled us about the size of its oil reserves? The short answer is probably. The long answer is that currently, there is no way to know for sure.
The next question we should ask is: Does it matter? The answer is most definitely yes.
“Everybody’s got a plan until they get punched in the mouth.” — Mike Tyson
“That’s a pithy way of saying where our country, perhaps the developed world, is at right now,” notes author James Howard Kunstler. We’ve blown past the mileposts for global peak oil, says Kunstler in his new book, Too Much Magic: Wishful Thinking, Technology and the Fate of the Nation, and we expect technology to save us.
The summer holidays brought no relief on oil prices with Brent climbing back to $115/barrel. Sanctions on Iran and hurricane Isaac are having an effect, but recent reports from Barclays Capital and Citigroup point to more fundamental issues.
As we reported two years ago, an international group of scientists, the Arctic Methane Emergency Group has been sailing into the Arctic waters around Norway and Russia to take samples of methane bubbling from ocean clathrates frozen methane deposits on the sea floor. Some of their findings, very preliminary, are now making their way into the blogosphere, but like many, we await peer-review published articles or discussion in the next IPCC report – AR5 – due in 2014, before we draw hard conclusions.
Plenty of ink has already been spilled about Mitt Romney’s so-called energy plan, released yesterday, so I will not offer a comprehensive critique of it. But a few additional observations are in order.
As Labor Day nears, a quiet summer seems poised to turn into an autumn to remember. Our concern here, as it has been for many years now, is the price and availability of oil products vital to our civilization. One of the many ways to think about peak oil is the point in time when our gasoline and other petroleum-fueled endeavors, such as air travel, become too expensive for casual use. As the use of petroleum products slows (US consumption is down by 4.4 percent from last year), our economy activity gradually drops to a slower pace.
-Drilling permits decline sharply for the Pennsylvania Marcellus formation
-University of Texas Compounds Conflict Question in Review of Gas Report
-Fracking Hazards Obscured In Failure To Disclose Wells
-Natural Gas and Its Role In the U.S.’s Energy Endgame
-Destroying Precious Land for Gas
-Fracking is too important to foul up
-Shale gas failure offers rescue for EU green energy drive
-China to spend $372 billion on cutting energy use, pollution
-China’s mega coal power bases exacerbate water crisis – in pictures
-Thousands being moved from China’s Three Gorges – again
-China and its controversial carbon appetite [Book review]
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Middle East
-Ethanol
-Quote of the week
-Briefs
On the surface one would think that the revolutionary advances in worldwide communications–made possible first by the telegraph, then by the telephone, the radio, the television and now by the Internet–would lead to a broad consensus on such issues as climate change and resource depletion. Almost everyone now has nearly instant access to the latest scientific information on these issues. Yet, no consensus has emerged, at least not one strong enough to bring about definitive action.
A midweekly roundup of peak oil news, including:
-Developments this week