Peak oil review – July 4
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Middle East – North Africa
-Energy Shortages
-The New York Times on shale gas
-Quote of the week
-Briefs
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Middle East – North Africa
-Energy Shortages
-The New York Times on shale gas
-Quote of the week
-Briefs
Energy systems do not exist in a social vacuum but are subject to culture and imagination. Anyone interested in promoting an energy transition away from oil and fossil fuels more generally needs to take this fact into account. Unfortunately, energy culture has often been overlooked as an explanation of U.S. energy development.
Every now and again it seems like a solution has been found to our energy problems, one that will allow us all to go on consuming (and wasting!) for decades, if not forever. In the last few years shale gas has bubbled to the top of the pile and is now being widely touted by the oil and gas industry as: a) a clean, green alternative to coal and oil; b) proof that Peak Oil/Gas is many years off; and c) a cheaper use of government subsidies than support for renewables.
The IEA decision to release 60 million barrels from strategic petroleum reserves (SPR) of member nations has been criticized as politically motivated, too small and too late to matter, or, at best, as a desperate attempt to fend off economic woes. The reality and impact of the decision are more complex than that. The move is a bold, price-suppressing “poke in OPEC’s eye” from nations that have been perpetual price takers in the world oil market. The short-term rationale for the decision, however, should not obscure our real oil problem – geopolitics is combining with economics and geology to put us in an oil crunch that is not likely to abate until our nation moves beyond oil.
World coal production is dominated by China. China’s coal production is projected to peak in 2027 with a peak production level of 5.1 billion tons. World (excluding China)’s coal production is projected to peak in 2027 with a peak production level of 4.1 billion tons. …
The BP Statistical Review of World Energy reports China’s coal reserves to be 114.5 billion tons. This is the number that is widely cited by media and used by virtually all international energy institutions as China’s “proved” coal reserves. In fact, the BP number has not been updated since 1992. Given the observed rapid growth of China’s coal production, the reserves number reported by BP is likely to have substantially underestimated China’s remaining recoverable coal resources.
“Equal Time” hosts a wide-ranging interview with Kurt Cobb, author of the peak-oil-themed thriller Prelude, and a separate interview with Vermont Law School faculty member Don Kreis about the courtroom battle over Vermont’s Yankee nuclear power plant.
The fallout from the IEA’s recent decision to release 60 million barrels of oil reserves continued this week. OPEC members criticized the IEA for “breaching its own principles” and interfering with the market. Traders too seemed little impressed with the move as prices recovered last week’s losses, as Greece drew back from the brink. After all, 60 million barrels is less than a day’s global consumption.
A recent series of studies and rebuttals have debated the greenhouse gas impacts of shale gas production as compared to coal. Post Carbon Institute Fellow David Hughes, author of the groundbreaking report, "Will Natural Gas Fuel America in the 21st Century?", provides an analysis of two conflicting studies. His conclusion: Shale gas is worse than coal for the climate over a 30-50 year timeframe, depending upon the technology used.
A midweekly roundup of peak oil news, including:
-Developments this week
There are currently no viable substitutes for oil at current rates of consumption. Although alternatives to oil do exist for many of its uses, they are generally vastly inferior to oil in their energy content and in the ease of which they can be extracted, transported, and turned into a commercially-useable fuel.
-The Shale Gas Scam Goes Public
-Reality Check for the Natural Gas Boom: A Look at the NYT Shale Gas E-Mails
-Chesapeake Energy Corporation Comments on Inaccurate and Misleading New York Times Article
-Oil, water shortages, climate change could provoke wars: report
-Sylvia Earle: If the sea is in trouble, we are all in trouble
-Like a grenade in a glasshouse
-Peak oil is ‘getting closer’ but the world is not ready