Fossil Fuels

Aubrey McClendon’s natural gas smoke screen

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The key questions about the actual size of North America’s natural gas resource remain unresolved. And, concerns about the possible rate of production from unconventional sources such as shale gas loom large. Until these are addressed more convincingly, North American policymakers would be advised to look upon McClendon’s proposals with skepticism and to plan prudently for a less than rosy natural gas future.

United States & Canada – Oct 6

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NYT’s Friedman discusses solutions to world’s climate, energy, and population problems (video & transcript)
Politics of drilling, financial bailout heading into elections (video & transcript)
Fukuyama: The Fall of America, Inc.
Ok, Now What?
Atlanta Q&A: Why gasoline supplies went south

Peak oil, bailout bunk, and the coming recession

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If, as seems likely, the omnibus financial bailout does little good and the world goes into a prolonged recession, then we probably are on the peak/plateau of world oil production right now. Demand will drop, production will be slowed, and new multi-billion dollar oil projects that are not already well underway will be delayed or cancelled due to lack of demand or capital to pay for them.

On the edge of the abyss

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The backdrop of a financial crash on Wall Street cast a shadow over this year’s Association for the Study of Peak Oil – USA conference in Sacramento in late September. Speakers talked of an ominous parallel between the financial crisis and another graver crisis in the making – the coming rapid decline of worldwide oil production, which has stalled after reaching an all-time high more than three years ago.

The impact of the credit crunch on energy markets

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New projects are harder to fund. Highly leveraged companies are sometimes finding it necessary to shed assets. Some players are finding themselves to be the indirect casualties of other players, like Lehman, that have already failed. Long term, we will probably see consolidation and lower production than would have been the case without the credit crunch. Of course, if there is a major recession, it is possible that we won’t need as high production.