Fossil Fuels

The peak oil crisis: a breakthrough?

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It came as a surprise that last weekend Britain’s Energy Minister summoned a meeting of business leaders to discuss the government’s response to a decline in global oil production should it actually be imminent. Just last summer, a UK government formally rejected the notion that the demand for oil would soon overtake available supplies leading to much higher prices and global economic disruptions.

Government ‘Peak Oil Summit’ Starts the Process of Government Acknowledging Peak Oil?

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On Monday Peter Lipman and I represented Transition Network at an event which could potentially be the day people look back to as the day when UK government finally starting to ‘get’ peak oil. Fascinating and frustrating in equal measure, the event, “Policy Response to potential future oil supply constraints”, was billed as “a half-day workshop hosted by the Energy Institute in partnership with the Department of Energy and Climate Change, under Chatham House Rules”. For those who don’t know what Chatham House rules are, it means that the contents of what was said can be discussed, but none of it can be attributed to anyone.

Oxford report: World oil reserves at tipping point

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A report just published by researchers at the Smith School at Oxford University concludes that the age of cheap oil has now ended as demand starts to outstrip supply as we head towards the middle of the decade. The report also suggests that the current oil reserve estimates should be downgraded from between 1150-1350 billion barrels to between 850-900 billion barrels, based on recent research.

Economics – Mar 22

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-Author Lewis Says Wall Street Reckoning Is Coming
-Coming soon: “oil-less” economic growth
-Arcane Currency Battle Masks Deeper Economic Tensions with China
-‘I=PAT’ means nothing, proves nothing
-The Broken Society
-Natural resources: The curse of developing countries?
-Money Out Of Thin Air: Now Federal Reserve Chairman Ben Bernanke Wants To Eliminate Reserve Requirements Completely?
-America’s “Houdini Recovery” under IMF-Type Austerity

Web & media – Mar 22

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-A road not taken
-Our Obsession With Stuff Is Trashing the Planet, Our Communities and Our Health
-Richard Heinberg Lecture Peak Oil Pt 1
-Q&A with Chef Dan Barber: Can organic farming feed the world?
-The Global Food Market (VIDEO): Why Do Some Eat Well While Others Starve?

Tipping Point: Near-Term Systemic Implications of a Peak in Global Oil Production – Part 1 – Summary (report excerpt)

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This paper talks about the likely systemic impacts of peak oil, including the possibility of collapse. With a long publication such as this, it is difficult to know how to present a reasonable subset of the material. In this post, we are publishing the Summary as Part 1. Our tentative plan is to publish three additional excerpts from the paper later. Those who wish to read the paper now can download it from the link above.

Non-OPEC Oil Production Hits the Wall

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In the last year I’ve read several articles expounding on the many non-OPEC* oil discoveries that have been made in recent years and how large the oil resource is within the non-OPEC sphere of the world. The objective of these articles is to reassure the reader that all is well for non-OPEC oil production, now and in the foreseeable future. If all is so well outside OPEC, one must ask why the non-OPEC oil production rate has not exceeded the level achieved in 2004 in spite of the elevated price of oil since then.