Insight and inspiration in turbulent times.
From World War II until just a few years ago, the number of miles driven annually on America’s roads steadily increased. Then, at the turn of the century, something changed: Americans began driving less. By 2011, the average American was driving 6 percent fewer miles per year than in 2004. The trend away from driving has been led by young people.
With peak oil moving closer globally and with oil prices spiking yet again (bouncing around over US$100 per barrel), subsidies become economically unsustainable. So the question becomes: at what point should a government begin to decrease an oil subsidy and how, if ever, can this be done without severely impacting the poorest?
Now, living with a family in my own house-castle, the only limitation to delving into energy efficiency is our budget (and of course, the kid’s willingness to turn off the lights. Except that our Edwardian townhouse also happens to be located in an official historic district. That’s good news for aesthetics and for property values. But it turns out that historic districts are bad news for clean energy.
-Obama Streamlines Oversight Of Shale Gas
-Fracking Tied to Unusual Rise in Earthquakes in U.S.
-U.K. Shale Fracking Can Resume Provided Risks Minimized
-Fracking: green groups denounce report approving further exploration
-Argentina won’t be joining the global petro-surge any time soon – Steve Levine
-Argentina Claims Resource Sovereignty – Molly Scott Cato
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Istanbul talks
-The IEA’s Oil Market Report
-Quote of the Week
-Briefs
Some people seem to have a knack for hopping aboard a trend just before it ends. Cheniere Energy Inc., owner of the largest liquefied natural gas (LNG) import facility in the United States, appears to be a case in point. In the world of finance, Cheniere would be what is called a contrary indicator, one that suggests that a trend is about to reverse.
Carol Browner, the former director of White House Office of Energy and Climate Change Policy for the Obama administration, has a simple and direct message: the United States should win the global race for clean energy.
Gas prices are on the rise again, which means the “man on the street” will complain to local news reporters about greedy oil companies and foreign cartels, and energy-illiterate pundits and politicians will cry for domestic drilling with wild abandon. But is gasoline, now approaching $4 per gallon in Ohio, really expensive?
The IEA poured oil on troubled waters, so to speak, in its April Oil Market Report this week, suggesting a possible “turning of the tide for market fundamentals”. The agency said supply is ahead of demand for the first time since 2009, though geopolitical threats remain…
It’s a policy fierce enough to cause great suffering among Iranians — and possibly in the long run among Americans, too. It might, in the end, even deeply harm the global economy and yet, history tells us, it will fail on its own. Economic war led by Washington (and encouraged by Israel) will not take down the Iranian government or bring it to the bargaining table on its knees ready to surrender its nuclear program. It might, however, lead to actual armed conflict with incalculable consequences.
Lloyd’s of London, the world’s biggest insurance market, has become the first major business organisation to raise its voice about huge potential environmental damage from oil drilling in the Arctic.
The City institution estimates that $100bn (£63bn) of new investment is heading for the far north over the next decade, but believes cleaning up any oil spill in the Arctic, particularly in ice-covered areas, would present “multiple obstacles, which together constitute a unique and hard-to-manage risk”.
