Fossil Fuels

Oil demand destruction & brittle systems

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People think we can insulate ourselves from supply disruptions, from our dependence on potentially unreliable foreign sources of oil, by improving our efficiency and eliminating “unnecessary” oil consumption. In my opinion, this is backward. I will argue that, because the demand that is destroyed first in a free market is the demand that is easiest to eliminate, the resulting consumptive system is more inelastic, more brittle, and more susceptible to systemic shock from supply disruption.

Russia: There is life after peak oil

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Several years ago, at what seemed to be one of the darkest moments of the Russian collapse, I was walking in one of the avenues of Moscow. I noticed a series of large signs hanging from lampposts, showing traditional Russian buildings and landscapes. One of my Russian colleagues translated the text of the signs for me as saying, “Nobody will help Russia, so Russia will have to help herself”. Government propaganda? Sure, but that is what the Russians did. Never underestimate a country that has survived peak oil.

OPEC, peak oil and the end of cheap gas

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Amid all the discussion about peak oil, one voice has been conspicuously absent, that of the Organization for Petroleum Exporting Countries (OPEC). OPEC’s position on the petroleum-resource question should be the decisive factor in this ongoing and seemingly inconclusive debate. The organization now supplies about 42 percent of the world’s petroleum …