Fossil Fuels

Energy transition: We need to do it fast and we’re way behind

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No doubt you’ve heard people speak of an energy transition from a fossil fuel-based society to one based on renewable energy–energy which by its very nature cannot run out. Here’s the short answer to why we need do it fast: climate change and fossil fuel depletion. And, here’s the short answer to why we’re way behind: History suggests that it can take up to 50 years to replace an existing energy infrastructure, and we don’t have that long.

ODAC Newsletter Sept 28

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Oil prices were once again oscillating between the price depressing effects of economic uncertainty and the price enhancing effects of Middle East political uncertainties this week…Saudi Arabia has promised to keep oil markets supplied in the event of shortfalls elsewhere, but Deutsche Bank, and others question whether the kingdom is really in a position to make good on the promise. The IEA now estimates Saudi spare capacity at just under 2 million barrels/day.

The peak oil crisis: oil & the arctic meltdown

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Last week brought the news that this summer the Arctic icecap shrank to an all-time low of roughly half the size it was in 1980. While this is the lowest ever seen since satellite monitoring began 33 years ago, some experts are saying that the summer of 2012 was probably the smallest the icecap has been in the last million years. The announcement triggered a spate of newspaper and magazine stories pondering the meaning of this development.

It now appears that the arctic is melting much faster than the models have been predicting.

Shale gas – Sept 27

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-Fracking Regulations In States Leave Wells Without Inspection, Environmental Group Says
-Report leaves debate open on contested Wyoming fracking study
-The Amazing Confusion Over European Shale
-Matt Damon’s ‘The Promised Land’ Takes on Natural Gas and Fracking

Is shale oil production from Bakken headed for a run with “The Red Queen”?

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In this post I present the results from an in depth time series analysis from wells producing crude oil (and small volumes of natural gas) from the Bakken (Bakken, Sanish, Three Forks and Bakken/Three Forks Pools) formation in North Dakota. The analysis uses actual production data from the North Dakota Industrial Commission as of July 2012 from what was found to be a representative selection of wells from operating companies and areas.

Degrowth and peak oil

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Today, we are discussing another kind of degrowth, intended mostly as a personal choice and most of us seem to believe that it is a good thing. It is an attitude that looks similar to the one we had about peak oil 10 years ago. But is it possible that we are making the same mistake? That is, could we be too optimistic about what degrowth can bring to us?

Global oil exports in decline since 2006: What will importing nations do?

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It is with trepidation that independent petroleum geologist Jeffrey Brown has watched global oil exports decline since 2006. With all the controversy in the past several years over whether worldwide oil production can rise to quench the world’s growing thirst for petroleum, almost no one thought to ask what was happening to the level of oil exports. And yet, each year a dwindling global pool of exports has been generating ever greater competition among importing nations and has become a largely unheralded force behind record high oil prices.

ODAC Newsletter Sept 21

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Oil prices fell dramatically this week to $107/barrel for Brent, on worsening economic news from China and Europe, and assurances from Saudi Arabia that it is ready to pump more oil to keep prices down. The speed of the fall on Monday however is something of a mystery and has led to an investigation by the Commodity Futures Trading Commission and the FSA.