Fossil Fuels

Proportionality

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There is a strange clause in the North American Free Trade Agreement (NAFTA) that applies to only one country—Canada. The clause states that Canada must continue to supply the same proportion of its oil and gas resources to the US in future years as it does now. That’s rather a good deal for the US: it formalizes Canada’s status as a resource satellite of its imperial hub to the south.

Peak oil – Feb 7

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WSJ: Peak-oilers put money where mouths are
BP to ‘put lights out’ on North Sea
Telegraph: Why the price of ‘peak oil’ is famine
David Strahan at World Energy Summit
Analyst Maxwell: PO means 10-year crisis

Desperately seeking energy in Lincoln, Mass.

Group bets $100,000 against CERA supply forecast

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A group of businessmen and energy experts who believe that global oil production will soon peak, plateau and decline has issued a $100,000 wager to Cambridge Energy Research Associates (CERA), a prominent oil forecasting think tank. Members of the challenger group also renewed an invitation to hold a public debate on the issue of peak oil with CERA.

Back up the rabbit hole

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At several points in the last quarter century, due to a brief constellation of short-term factors, petroleum prices dropped to levels lower in constant dollars than ever before in history. Collective decisions made on the assumption that such prices were normal need to be revisited in a hurry as more realistic energy costs reassert themselves.