Insight and inspiration in turbulent times.
Traders have adopted a new yardstick for oil security, and it’s influencing the abrupt climb of oil prices. Call it the Flaming Oil Port Index. It’s a notional appreciation of how many more OPEC countries may see fighting, taking their oil production with them.
I’m writing you today about Tim de Christopher. For you that don’t know his name, here’s a short story: In its last days, the Bush administration was selling off 77 parcels of federal land totaling 150,000 acres for drilling, a last round of favors to the oil and gas industry. The leases were on wilderness areas, including some areas next to national parks. Business as usual. Then a student at the University of Utah named Tim de Christopher showed up.
– Guardian on oil prices: Green light from the black stuff
– China Reportedly Plans Strict Goals to Save Energy
– UK facing 1970s-style oil shock which could cost economy £45bn – Huhne
– Libya, oil production, OPEC responses, Saudi Arabian capabilities and the SPR
– David Strahan: My2050@lastoilshock
– Calls Mount to Tap U.S. Oil Reserves
– White House considers tapping oil reserves
– Crude Oil Heads for Its Third Weekly Gain as Unrest Spreads to Middle East
– Oil no immediate threat to recovery; fundamentals different from 2008
As the upheavals in the Middle East drive the oil price ever higher, the report identifies a litany of questionable assumptions that underpin the forecasts of the International Energy Agency (IEA), on which UK policy is based.
Continued violence in the Middle East kept oil prices high this week. Libyan exports are down at least 1 million barrels a day and fears are escalating that the stand-off there could turn in to a protracted civil war. The unrest spread to Oman this week where security forces clashed with demonstrators. Meanwhile news of the arrest of a Shi’ite cleric demanding democratic reforms in Saudi Arabia sent the Saudi Tadawul stock exchange down 11%.
Creating an Energy Descent Action Plan and/or the intentional relocalisation of a community will raise a lot of questions. How much arable land surrounds the settlement, how much food, fuel and fibre might it produce, what productive role might back gardens, allotments and new urban market gardens play? How much energy infrastructure is needed, and how much could realistically be installed? Failing to ask these questions will hamper attempts to think strategically about relocalisation.
A midweek roundup of peak oil news, including:
-Developments this week
I sat down with Richard Heinberg in late December via Skype to learn about his forthcoming book, The End of Growth, and to hear more about what he thinks lies ahead as energy declines accelerate and the world economy sinks further into recession.
As concerns grow in the U.S. about the environmental impact of hydraulic fracturing, or “fracking,” to extract natural gas from shale, companies have set their sights on Europe and its abundant reserves of this “unconventional” gas. But from Britain to Poland, critics warn of the potentially high environmental cost of this looming energy boom.
-Spain adopts energy saving measures to combat oil price hike
-China pollution ‘threatens growth’
-Denmark Targets Fossil-Fuel Independence Through Wind, Biogas
This civilization uses oil for its blood. Almost everything we make, buy, and use has oil in it’s food chain. You know that. Never mind that we are bleeding carbon into the sky and the ocean, or the developing climate shift. Even if oil was lily white, we are still running out of the cheap stuff – that we need for a global economy feeding billions of humans. And we are determined to drive right off that cliff, without a Plan B.
