Fossil Fuels

Triple-Digit Oil Prices Block Growth & Investments Before “Petro-collapse”

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Today’s show features two guests who were at last week’s Truth in Energy conference of the US chapter of ASPO, the Association for the Study of Peak Oil and Gas, in Washington, DC. Jeff Rubin, is former Chief Economist at the Canadian Imperial Bank of Commerce and the author of Why Your World is About to Get a Whole Lot Smaller. He explains why the price of oil the US media report is $25 too low, why today’s triple-digit oil prices show that the days of low unemployment and 3% economic growth are over, and warns that 30-year US Treasury bonds are not as safe an investment as many people think. Jan Lundberg went from being an oil-industry analyst at Lundberg Survey to a self-described “eco-warrior” fighting petroleum pollution, car culture and sprawl development. He writes at Culture Change and promotes sail transport of freight.

Saturday Oil Report — November 5, 2011

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More evidence for the disconnect between Nymex (WTI) and Brent prices surfaced this week. Although the spread has narrowed, Nymex rose to $94.16/barrel, almost seven dollars more than it was two weeks ago in my as Saturday report. Brent came in at $112.55, only a few dollars higher than it was on October 22. The alarm level remains the same.

Ricardo study suggests global oil demand may peak before 2020

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A research study challenged the concept that “Peak Oil” will be a supply side phenomenon and predicts that the demand for oil may well peak before 2020 and then fall back to levels significantly below 2010 demand by 2035.

“The world is nearing a paradigm shift in oil demand,” said Peter Hughes of Ricardo. “The predominant role of oil in the global energy mix is facing an ever greater challenge from a number of emerging trends. Over the past few years a near ‘perfect storm’ for oil demand has been forming and gathering strength, created by a preoccupation in many quarters about the availability of future supplies.”

Peak oil and energy – Nov 6

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– Kurt Cobb: Time to Worry: World Oil Production Finishes Six Years of No Growth (NEW)
– Steve Levine’s Weekly Wrap of energy news
– ASPO-USA Conference Report: Friday Notes
– Gail Tverberg: New Dept. of Energy Priority-Setting Analysis Seriously Flawed
– Reuter’s Exclusive: IEA draft outlook sees $212 oil in 2035

CNA military advisory board: cut US oil use 30% to reduce “grave national security risks”

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Even a small interruption of the daily oil supply impacts our nation’s economic engine, but a sustained disruption would alter every aspect of our lives — from food costs and distribution to what or if we eat, to manufacturing goods and services to freedom of movement.

A new CNA analysis finds if America reduces its current rate of oil consumption by 30 percent, and diversifies its fuel sources, the U.S. economy would be insulated from the impact of such disruptions — even in the event of a complete shutdown of a strategic chokepoint like the Strait of Hormuz, the international passageway for 33 percent of the world’s seaborne oil shipments.

Members contributing to the report include some of our nation’s highest-ranking retired military leaders with 400 years of collective military experience.

Peak oil – Nov 5

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– ASPO-USA Conference Report: Thursday Afternoon Notes
– The six natural resources most drained by our 7 billion people
– Peak Oil – Herausforderung für Sachsen: Bündnis90/Die Grünen präsentieren Studie des Postfossil-Instituts im Landtag

ODAC Newsletter – Nov 4

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In a year when chaos is beginning to feel like the norm, Greek Prime Minister George Papandreou’s out of the blue announcement calling a referendum on the latest Euro bailout plan caught even the most jaded observers by surprise. Although it looks as if the idea has now been abandoned, the likelihood of a still more serious financial crisis has surely moved a step closer…

Fracking turmoil – November 3

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-US to require details of fracking on federal land
-When Transition meets fracking, and wins. The story of Transitions Cowbridge and Llantwit.
-Exclusive: Fracking company – we caused 50 tremors in Blackpool – but we’re not going to stop
-Fracking protesters storm shale gas exploration site