Energy Policy

Failure and Heroism at the IEA

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On June 23rd, the International Energy Agency (IEA) and the US government announced the intention to tap strategic petroleum reserves (SPRs) of the US and other countries, with an eye to reducing oil prices. The US was to provide 30 million barrels (mb) and other countries a similar amount, for a total draw of 60 million barrels.

Less energy is better–really

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The European example should give us great pause on this side of the Atlantic. It is perhaps the clearest illustration that beyond a certain level of energy consumption, the quality of life rises almost imperceptibly or not at all. In fact, high energy use may even be correlated to a lower quality of life in the United States.

The end of cheap coal

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World energy policy is gripped by a fallacy — the idea that coal is destined to stay cheap for decades to come. This assumption supports investment in "clean-coal" technology and trumps serious efforts to increase energy conservation and develop alternative energy sources. It is an important enough assumption about our energy future that it demands closer examination.

ODAC Newsletter – July 15

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The world could soon be short of oil again, despite the worsening fiscal crisis, says the IEA. Although the turmoil in Europe threatened to engulf Italy – with the world’s third largest bond market – and the US budget standoff threatened its AAA credit rating, the Agency raised its 2012 oil demand growth forecast by 270,000 barrels/day.

Dilithium Crystals “most likely” to power next generation

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In a Gallup poll released today, Americans chose dilithium crystals as the top choice of fuel to run both cars and power plants, with 84% of Americans choosing the crystals over other options including nuclear, hydrogen, corn ethanol, shale gas, and photovoltaic solar panels. Respondents indicate that dilithium crystals are popular for providing quiet, clean energy, with a proven track record including over seven-hundred twenty-six episodes in four different Star Trek television series.

Resilient to what?: a fascinating new look at risk

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A chart in the World Economic Forum’s “Global Risks 2011” sets out all the risks they see in the world on a matrix which positions the various risks by their perceived impact on the global economy and by the perceived likelihood of their happening. What you might expect to be at the top, given recent media reports, would be the threat of terrorism or perhaps some hideous computer virus that knocks out nuclear power station. But no. There at the top, leading the pack, are climate change, ‘extreme energy price volatility’ and fiscal crises.