Insight and inspiration in turbulent times.
A collapse in demand for petroleum products happened in the late 1970s and early 1980s. JD, proprietor of the blog Peak Oil Debunked, examined this briefly in this 2007 post about what he termed ”The Big Glitch”…
OPEC ministers meeting in Vienna this week caused no surprises in deciding to keep production quotas unchanged. Saudi oil minister Ali Al-Naimi described current prices as “beautiful”. Indeed as the group met the oil price rose to $82/barrel, close to its 2010 high despite only 53% compliance by OPEC to its quotas and low US demand.
The “Peak Oil” concept — that the world’s petroleum-production rate will soon reach its maximum and commence an inevitable decline, with negative economic consequences — has been around in scientifically articulated form at least since 1998; long enough to see it confirmed in significant ways.
A few weeks ago, I had the opportunity to do a freewheeling, videotaped chat with StockTwits founder Howard Lindzon on the present and future realities of energy…Topics included peak oil, the end of economic growth, reversing globalization, oil prices, alternatives, and lots of other topics.
A midweek roundup of peak oil news, including:
-Prices and production
-China
-Money spent on tar sands projects could decarbonise western economies
-China’s oil demand increase ‘astonishing’, says IEA
-OPEC sticks to its guns, demand rising
The United States Joint Forces Command regularly (about every two years) issues its “perspective on future trends, shocks, contexts and implications for… the national security field.”…Amid the multitude of security threats, energy has moved rapidly to the forefront, and it is the oil supply issue which is the focus of this review.
I often read John Michael Greer, the Archdruid. He’s a smart and thoughtful guy who worries about some of the same things I worry about, though he tends to have decided they are all hopeless, whereas I tend to see society as having a lot more options than he perceives. He has read very widely and often comes up with interesting historical analogies that hadn’t occurred to me, so he’s well worth the spot in my reader.
The next few years are likely to be seminal ones in modern history.
David Orr was in the UK recently, and the two of us were part of a panel at an event organised by the Prince’s Foundation for the Built Environment. After the event, we retired to the bar of a rather grand London hotel, and chatted for an hour about energy, climate change, the Precautionary Principle, Transition and whether or not we are beyond talk of ’solutions’.
The National Intelligence Council has released a report on the expected effects of climate change to the Caribbean region. This 21 page report is entitled Mexico, The Caribbean and Central America: The Impact of Climate Change to 2030: Geopolitical Implications (NIC Conference Report, Jan. 2010). The report is authored by a team of private researchers under the Global Climate Change Research Program contract with the CIA’s Office of the Chief Scientist.
-World oil demand’s shift toward faster growing and less price-responsive products and regions
-Economists deliver a sturdy smackdown of peak oil demand
-Study Finds that Peak Oil Demand is Decades Away, but Minimizes Effects of Rising Consumer Product Prices
-Forecasts underestimate oil demand, study says
