Energy Policy

Gas prices set records, soon to reach new highs

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Mainstream media outlets throughout the country are now reporting on record-breaking gas prices, the highest ever for this time of the year. Also making the rounds is the commonly cited prediction by former Shell CEO John Hofmeisterthat there is a better than 50 percent chance that gas prices will reach $5 a gallon by this summer in the U.S. This is in spite of the fact that U.S. oil production is up and oil consumption down, since 2008. What the media isn’t reporting on is the rest of what Hofmeister said in a recent peak oil themed debate he had with Tad Patzek on Feb. 14.

ODAC Newsletter – Feb 24

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Iran’s announcement on Sunday that it was cutting off oil sales to Britain and France ahead of the EU embargo sent Brent crude oil prices soaring to a 9 month high of $124/barrel and an all-time UK high of over £78. The price of oil is now firmly back in the news alongside a rash of articles rejecting peak oil, declaring imminent US energy independence, and discussing the changing balance of geopolitical power away from OPEC…

Oil executive son’s powerful testimony at Enbridge Northern Gateway pipeline joint review panel (includes transcript)

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Lee Brain, son of an oil man, receives a standing ovation and brings a crowd to tears after delivering powerful & inspirational testimony in front of the Northern Gateway Pipeline Joint Review Panel in Prince Rupert on February 18, 2012.

Peak oil – Feb 18

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– NPR: Ex-Shell CEO and Peak Oil Researcher Face Off Over America’s Energy Future
– WaPo: Has the United States beaten peak oil? Not so fast.
– Much ado about Hotelling: Beware the ides of Hubbert (Hubbert curve is a major determinant for oil prices)
– ¿Cuánto petróleo hace falta para extraer un barril de petróleo? (Charles Hall intervista)
– Roland Vially, géologue à l’IFP : “les hydrates de méthanes pourraient constituer une nouvelle source de gaz à l’horizon 2030”