Insight and inspiration in turbulent times.
Read the transcript from our live webchat about natural gas. David Hughes (author of ‘Will Natural Gas Fuel America in the 21st Century?’), Michael Bomford and Richard Gilbert answer questions from readers.
-UK ministers ignored ‘peak oil’ warnings, report shows
-Senate Rejects Effort to Cut Ethanol Subsidy
-Soot, smog curbs quick way to combat warming: U.N. study
Read the transcript from our live webchat about natural gas. David Hughes (author of Will Natural Gas Fuel America in the 21st Century?), Michael Bomford and Richard Gilbert answer questions from readers.
Immediately after 9/11, Washington Post columnist and premier Inside-the-Beltway pundit George Will asserted that America had taken a “Holiday from History” during the previous ten years and that the attacks had brought it to an abrupt end. In reality, by ignoring energy issues Americans took their holiday from history for a much long period, from 1981-2005, and we’re about to pay a very steep price for it.
The world oil production data below tell a story about: 1) nations that are past peak, because of geologic limits (e.g., US, Norway, etc.) or other reasons; and 2) nations that have yet to peak, or if they have peaked it is not yet clear.
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Saudi Arabai
-China
Oil is often described as ‘the life-blood’ of modern society. It is as vital to our globalized economy as water is to the human body. A reduction in supply of only a few percentages could create difficulties throughout the entire system. Further reductions could lead to a complete failure of critical systems.
How do we plan for this new situation, in which food and energy seem likely to again be rising in relationship to incomes, and as a result, living standards quite likely declining? The following are a few of my thoughts.
When the Saudi oil minister speaks to the world’s business reporters, one cannot rely that his words will later match the kingdom’s official reports to international statistical agencies. Whether through sloppiness or otherwise, at least one of Mr al-Naimi’s statement and the Saudi report were in error to the tune of almost half a million barrels a day — more than five percent of production — at a time when oil markets are critically seeking signals of Saudi intentions and capabilities.
An analysis of the fragility of the global economy and why the era of economic growth is over.
In thousands of ways, UN policy helps shape how we respond to emerging crises, from basic poverty to world political events, from food to climate change and population. What is emerging, however, is that UN analyses are increasingly diverging from reality – as they attempt to describe our future, they have failed to adequately (or at all) take into account that most basic of all considerations, material limits on energy resources.
I was recently asked to participate in an energy roundtable at Focus on China’s Energy Future and the Shale Gas Question. It is no secret that I feel that China’s moves stand to continue sending shock waves through the energy markets over the upcoming years. In fact, energy news from China warranted inclusion in My Top 10 Energy Stories of both 2009 and 2010. In 2009, I stated my belief that “China will be the single-biggest driver of oil prices over at least the next 5-10 years.” In 2010, the news was reported by the International Energy Administration (IEA) that China had become the world’s top energy consumer. BP confirmed this in their just-released Statistical Review of World Energy 2011.
