Fossil Fuels

United States: oil and water – April 28

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– Dems’ Oil Subsidy Repeal Push Puts GOP On Defensive
– Oil firm tax breaks must end quickly: Senator Reid
– President Obama Urges Congress to Eliminate Oil Company Subsidies
– Trump on Iraq: “if it is me, we take the oil”
– Climate change to reduce US West water supply – report
– A City Built on Oil (Midland, TX) Discovers How Precious Its Water Can Be

The Oil Crunch

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In just a century, we’ve become almost entirely dependent on cheap oil. We rely on oil for just about everything, in fact the global economy is reliant on its free flowing supply. So what would happen if the well started to run dry and demand outstripped supply? Some oil industry experts think we’ve already hit Peak Oil and we should brace ourselves for the imminent Oil Crunch.

Global world product will not grow at 4%+ for five years

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You can see that the IMF is basically forecasting five years of pretty good growth – near the top of the historical range, but certainly not above it. They are not projecting any serious global slowdowns, still less an outright global recession (those are rare – 2009 was the only case in the last thirty years)…This requires the world come up with another 17mbd of supply in the next five years, though it only managed to come up with about 3-4mbd over the last five years, and that took a quadrupling of prices to achieve. I don’t see where this much oil can possibly come from.

Energy déjà vu: Obama must break with failed U.S. policies

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Despite soaring rhetoric and some promising proposals, President Obama is repeating the same mistakes that have doomed U.S. energy policy to failure for 40 years. Until Obama and Congress finally put a true price on the fossil fuels America consumes, the U.S. will continue its addiction to foreign oil and domestic coal.

Man Bites Dog: CNBC runs programs that acknowledge fossil fuel resource limits

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I was surprised that CNBC (I sometimes think that the first “C” stands for Cornucopian*) just ran two programs that seriously talked about resource limits, Sprawling from Grace on Wednesday and Fuel on Thursday.

Of the two, I think that Sprawling from Grace was a lot better, but having said that, it seemed to me to be largely a remake of End of Suburbia, and in fact Jim Kunstler was prominently featured in both. But Sprawling was on CNBC, while End of Suburbia was not.