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Evidently growing public concern about the inevitable decline in world oil production has rankled some powerful people, who’ve been knotting their ropes in search of a bit of favorable data to use as the pretext for a public lynching…The Peak Oil debate is not a sporting event. What matters is not which side wins, but what reality awaits us.
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According to the Energy Information Administration, in March the United States produced a “total oil supply” of 10.8 million barrels per day, which was 2.1 mb/d more than in January 2005. But if you just rely on those aggregate numbers, you’ll miss some very important trends.
– Oil posts fourth biggest daily gain on record
– Oil Surges Most in More Than a Year on European Agreement
– We Could Stop Importing Oil From the Middle East Today If We Wanted To
– A Skeptic Looks at Alternative Energy
There is no evidence from the top three oil producers (Saudia Arabia, Russia and the U.S) that their production will be even close, in total, to current levels by the end of the decade.
Now there comes an Energy Study from Harvard which boldly states that this is rubbish – that by 2020, global production will be at 110.6 mbd and these concerns that most of us have at The Oil Drum (inter alia) are chimeras of the imagination.
It is therefore pertinent to begin with examining where the study (which was prepared with BP assistance) anticipates that the growth in supply will come from.
Since 1949 the United States has had more than 2.6 million oil and natural gas wells drilled into its surface. Many more wells have gone uncounted since they were drilled before comprehensive records were kept. Add to that some 680,000 waste injection wells of which more than 150,000 inject industrial wastes, some of it considered hazardous. And, this may not be the full count since the U.S. Environmental Protection Agency admits that records are inadequate on the largest class of injection wells which it says “in general…inject non-hazardous fluids into or above [U.S. drinking water].” The “in general” part is not terribly reassuring.
The novel describes a future in which humans have evolved into an entirely new species, the Neu-humans. They are distinguished by their short tails, freckled appearance and super-intelligence—along with a strong tribal sensibility that compels them to tread lightly upon the planet and always make decisions rationally. The story involves an archaeological journey to the “Lands of Oregon,” from what is now northern Canada, to discover the missing link between humans and Neu-humans. The year is 3100.
This week saw further confirmation that all is not well in the shale gas industry as ExxonMobil CEO Rex Tillerson admitted “We are all losing our shirts today.”…”We’re making no money. It’s all in the red.” The news comes as little surprise since the price of production is estimated to be around $4-7/per million BTUs and prices have been languishing around $2…
Oil, natural gas, and alternatives dominate the headlines when it comes to energy. But there’s a big and largely-overlooked revolution occurring with the energy source likely to become the most preferred fuel for a world in economic decline: coal.
Svenska Dagbladet, one of the largest newspapers in Sweden, has now made a review of the book Peeking at Peak Oil (read the article in Swedish). In a special note they have compared the predictions that Matt Simmons made for Saudi Arabia and the predictions in the new book Peeking at Peak Oil.
As researchers at Boulder’s National Center for Atmospheric Research (NCAR) joined 32,000 other Coloradans in fleeing the fires, ExxonMobil CEO Rex Tillerson spoke to the Council on Foreign Relations about the “manageable” risks of climate change. “… “As a species that’s why we’re all still here: we have spent our entire existence adapting. So we will adapt to this,” he said. “It’s an engineering problem, and it has engineering solutions.”
– Has The Peak Oil Idea… Peaked? If so, does the planet stand a chance?
– Oil: the party is over, says OpenMind AM
– Exxon CEO Rex Tillerson: The New North American Energy Paradigm: Reshaping the Future
– Australia’s growing oil imports are an energy security issue
– 10 mouse clicks to calculate Australian crude oil depletion of 83 per cent
