Industry

The peak oil crisis: A mid-year review

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It now appears that the run-away oil well will soon be brought under control and will stop gushing into the Gulf. While the litigation, cleanup, and economic impact of the sub-sea blowout are likely to go on for years, if not decades, the world’s attention will soon shift elsewhere. Even now the economic and employment impact of the administration’s drilling embargo is moving to center stage as attention shifts to the possibility of a US political upheaval at the mid-term elections — now less than four months away.

Review: Sound Truth & Corporate Myth$ by Riki Ott

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At just before 10 p.m. on Tuesday, April 20, 2010, the Transocean Ltd.-owned and BP Plc.-operated floating oil rig Deepwater Horizon was boring an exploratory well in the Macondo Prospect—about 40 miles southeast of the Louisiana coast and nearly a mile underwater—when it exploded without warning from a well blowout. …BP has tried repeatedly to stop the flow, to no avail. (As of this writing on Tuesday evening, July 13, it remains to be seen whether the well cap installed last night, a Band-Aid pending completion of the long-awaited relief wells next month, will actually work.) The spill’s magnitude has beggared description or belief.

New thinking on BP spill: Declare a holiday!

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The BP spill demands a far more significant response than ongoing cleanups, unsuccessful attempts to plug the gushing oil, and desperate efforts to mitigate the multitude of impacts from the biggest oil catastrophe in U.S. history. The BP spill demands a paradigm shift in how we run our economy and carry out our governance. Historians will one day look back on this spill as the nadir of governmental regulatory performance, in which oil companies commandeered and corrupted the Interior Department oil leasing program. So what’s the response we need to get the paradigm shift going? How about declaring a new holiday?

Optimism, harsh realism, and blind spots—10 years later

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Ten years ago, energy analyst Steve Andrews challenged widely respected energy guru Amory Lovins via email for what Andrews thought was an overly optimistic vision—about coal consumption trends, evolution in the auto industry, future world oil production, etc.—articulated in the Rocky Mountain Institute‘s Spring 2000 newsletter. …Ten years later, read it for the blind spots everyone had.

ODAC Newsletter – July 9

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Hopes rose this week that BP may be in a position to attempt to ‘kill’ the Macondo oil leak a couple of weeks ahead of its previously anticipated date. The first of two relief wells is now close to the target, and a top BP executive is reported to have told Wall Street Journal that, should weather conditions remain favourable, the well could be shut off by 27th July. With this optimistic, but by no means assured backdrop, Tony Hayward spent this week visiting Middle Eastern investors in an attempt to shore up BP against hostile takeover bids…