Fossil Fuels

Running on empty: big airlines in big trouble

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Most people living in our modern industrial society take air travel for granted. We think very little about hopping on a plane and travelling around the world for little more than a couple of weeks wages. As jet fuel prices bounce along with the price of crude however many airlines are increasingly struggling to break even. Fuel prices now account for 35 percent of operating costs compared to 15 percent a decade ago. The future of the global aviation industry is in big trouble.

Mother: Caring for 7 Billion (documentary film review)

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The documentary takes a penetrating look at overpopulation, what fuels it and why the world has become complacent about the issue after making a good start in addressing it during the late 60s. The film dispels some key myths about overpopulation – chief among them the belief that it’s long been solved – even if it stops short of admitting the inevitability of a world population crash as the Earth’s resources deplete. And it conveys its message in an engaging, visually immersive style that finds just the right balance between hard facts and ordinary human involvement.

Peak oil – oil prices need to double in a decade

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Michael Kumhof explains the International Monetary Fund (IMF) Research Department’s new, strikingly more accurate, oil supply/price/demand prediction model, and says that according to the model oil prices will need to double in a decade to grow world oil production by 0.9%, in line with published EIA predictions

Comments on BP Statistical Review 2012

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Digest: The BP Statistical Review has the merit of releasing every year free and convenient updated historical data on energy. This data is recopied from what is reported by national agencies, avoiding diplomatic conflicts. Despite the heterogeneity of the data, the report displays a ridiculous high number of digits, in contradiction with the real accuracy of the sources. The report wrongly adds unconventional to conventional reserves. BP ignores backdating, using obsolete reporting rules that lead to artificial reserve growth. Most economists believe this reserve growth to be the real, when in fact known Oil and Gas reserves peaked in 1980.