Fossil Fuels

Daniel Yergin massively reduced his energy estimates

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If one can’t rely on Daniel Yergin for soothing reassurances about the state of the global oil market, who you gonna call?

Since 2005, Yergin and his associates at CERA have massively reduced their projected rate of increase in Global Total Liquids “capacity.”

Commentary: Oil and the economy

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By itself, the concept of having to get by on just a little bit less oil each year seems to be manageable enough. Some think that a steadily, or even sharply, rising price will merely reduce demand and promote exploration and that everything will more or less normally work itself out through well understood market mechanisms. Perhaps it will, but I think the odds are stacked against a smooth transition to a future of less net energy.

Kidding ourselves about future MENA oil production

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Depending on the Middle East and North Africa (MENA) for 90% of the growth in global oil production between now and 2020 seems unwise. What the world really needs is a rising supply of low-priced oil, if we are to avoid long-term recession. But MENA is unlikely to supply this. The Middle East claims huge oil reserves and Iraq offers high production targets, but in the end, we are likely to be kidding ourselves, if we believe that these will fix world oil problems.

ODAC Newsletter – Oct 21

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As temperatures dropped in Britain this week, the political heat over rising energy bills intensified. Prime Minister David Cameron hauled in the utility bosses and demanded action. Cameron claimed “everything that can be done will be done to help people bring their energy bills down…

Course Review (or why Daniel Yergin needs to do his homework)

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Recently I’ve been getting emails from folks who had previously read an article or two on Peak Oil and found the evidence convincing—but who have more recently encountered a piece or two by Daniel Yergin (or another writer following the same train of thought). Their new line of reasoning goes like this:…Just as “fracking” shale gas has been a “game changer” for the natural gas industry, new technologies for accessing tar sands, oil shale, and shale oil…will change the oil game…Now, every element of that argument has already been dealt with at length in the Energy Realist literature. But occasionally a review of previous course material is called for. So here we go…

Energy – Oct 21

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– There Will Be Oil, But At What Price?
– Alms for the Rich: How policies meant to promote alternative energies are actually hurting the middle class
– What Will Turn Us On in 2030? Fossil fuels vs ???
– Australia beats them all – in oil imports

Oil Sands: Canada’s 10 ethical challenges

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Canada has joined the ranks of exporting oil nations and now supplies more petroleum to the United States than Mexico or Saudi Arabia. The unconventional character of mined bitumen as well as the startling revenue it generates for government coffers has irrevocably changed the country. Five per cent of the nation’s GDP comes from oil while bitumen makes up 25 per cent of the nation’s exports. As the wild debate about the Keystone XL pipeline illustrates, Canada’s $200-billion energy project has also become a global lightning rod. No oil exporting nation, whether Christian or Muslim, is immune from the corrosive influence of oil money and its dirty politics. Yet Canada has anointed bitumen as the nation’s new “economic engine” without setting clear public policy goals or assessing the economic risks.