United States – July 19
Foreign demand for U.S. securities surges to record (but China sells U.S. Treasuries)
The battered Hummer that symbolises a divided nation
Murdoch’s arrival worries Wall Street Journal employees
Fossil Fuels
Exaggerated oil recovery
A closer look at the National Petroleum Council (NPC) report: the case of the “missing” graph. Enhanced oil recovery (EOR) been used in the United States for three decades. By its own admission, the NPC’s previous estimates for EOR production didn’t pan out. Are you willing to take the chance that the NPC is right this time?
Transport – July 19
Fingers Point as NYC Traffic Plan Runs Aground
UKs green promises on transport policy derailed
Aus. car industry in a hole, perhaps it should keep digging
Hummer owner gets angry message
Peak oil – July 19
OPEC countries ignore West’s agenda
Updated oil forecasts, including S.A.
Dubai crude output down rapidly
Iraqi oil production still below target
ODAC news
NPC report on oil/gas supplies – July 19
Peak oilers: “We’ve won respect”
NPC acknowledges peak oil
Globe & Mail: Oil executives sound alarm
Bloomberg:Oil supply to trail demand by 2030
Denver Post: Oil-shale funding promoted
Dallas News: NPC stresses urgency
The National Petroleum Council report
in summary, the NPC report is saying that production will increase by around 25% over the next twenty five years, but this increase is entirely reliant on finding large amounts of new oil, mainly in the Middle East. Unfortunately, it is rather unlikely that the existing claims of oil reserves in the Middle East are true, and even less likely that massive amounts more oil can be found there. Even if it could, the Middle East is the least politically stable region of the world, and relying ever more heavily on it for critical inputs to our economy is likely to be fairly painful at regular intervals.
National Petroleum Council hides the hard truths about energy instead of facing them
While the NPC do have some ‘hard truths’ in their report, they are surrounded in a dense matrix of mumbo-jumbo and irrelevant reassurances about how large the resource endowment is.
Peak oil – July 18
NY Times on the NPC report
Dow Jones on the NPC report
Online peak oil book from “Gail the Actuary”
The IEA’s come-to-Jesus moment
Peak oil and entertainment tech
The Peak Oil Crisis: July 2007
It seems like a good time to review the general peak oil situation prior to what many believe may be difficult times later this year.
“Hard Truths” about global energy detailed in new NPC study
“Over the next 25 years, the United States and the world face hard truths about the global energy future,” that will require “all economic, environmentally responsible energy sources to assure adequate, reliable supply,” the NPC advises in a 422-page report delivered today to the Secretary of Energy. (Full report and summary now online.)
Fatih Birol interview in Le Monde full translation
Full translation of June 26 interview with Fatih Birol, chief economist with the International Energy Agency, in which Birol predicts the oil market will face ‘a wall’ between now and 2015.
National Petroleum Council report comes up a dry hole
The NPC Study [on oil supplies] is woefully inadequate, leaving the Secretary of Energy and the American public with inadequate warning of the huge economic and social risks that many experts believe are just around the corner.
