Oil – May 16
– Peak oil debate is over, says Total chief
– Oil Falls to 2012 Low on Greek Debt, Saudi Call for Drop
– Reuters global energy and envrionment summit
Industry
Environment – May 16
– WWF Report: Consumption of Earth’s resources unsustainable
– Monthly Review: Marx’s ecology and the understanding of land cover change
– New report from Club of Rome warns about humanity’s ability to survive without a major change in direction
– The Big Fix: documentary exposes BP, U.S. Gov’t on Gulf disaster/Interview: the Tickells, filmmakers
– James Hansen: Game Over for the Climate
U.S. coal generation drops 19 percent in one year, leaving coal with 36 percent share of electricity
Power generation from coal is falling quickly. According to new figures from the U.S. Energy Information Administration, coal made up 36 percent of U.S. electricity in the first quarter of 2012 — down from 44.6 percent in the first quarter of 2011. That stunning drop, which represented almost a 20 percent decline in coal generation over the last year, was primarily due to low natural gas prices. As EIA explains, natural gas generation will climb steadily this year, while coal will see a double-digit drop by the end of 2012…
Peak oil review – 14 May
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The EU at a crossroads
-China slowing
-IEA’s monthly report
-Quote of the week
-Briefs
Commentary: Major oil companies on peak oil
With the exception of the French oil company Total, the International Oil Companies (IOCs) have denied concerns about the impending decline in world oil production, often called “Peak Oil.”
Some possible explanations for the IOC position are as follows…
Updating world deepwater oil & gas discovery
Deepwater oil production will help reduce the decline in world oil production from aging fields. The IEA claims that four Saudi Arabias need to be discovered up to 2030 to replace the present decline in production (about 5 %/a). The deepwater ultimate is likely to represent less than half of Saudi Arabia’s oil ultimate. It is not enough!
Energy – May 14
-Americans would pay more for green energy
-Carbon capture leak simulated in sea off Scotland
-US claims ‘unprecedented’ success in test for new fuel source
Chesapeake and JPMorgan: Risk (mis)management with other people’s money
If you were personally faced with betting on complicated nonsense with your own money, you’d never do it. But JPMorgan was betting with other people’s money, with deposits, with INSURED deposits no less. Now, JPMorgan traders thought they understood the risks. Obviously, they didn’t. And, probably they couldn’t. They pretended to be able to understand the world through models that simply cannot account for unquantifiable risks, risks in the real world.
ODAC Newsletter – May 11
Fears of a new phase in the European debt crisis, a decline in oil imports to China in April, and the prospect of a new round of international talks on Iran’s nuclear programme have seen oil prices drop back from recent highs in the past two weeks. Despite all this however, and reports from OPEC that it bolstered supply by 320,000 barrels in April, Brent oil still stands around $112/barrel.
Peak oil review – May 7
A weekly roundup of peak oil news, including:
-Oil and the global economy
-the Iranian confrontation
-The EU’s spreading crisis
-Quote of the week
-Briefs
Energy supplies and climate policy
In this post, I consider the limited impacts of climate policy on fossil-fuel production and discuss estimates of fossil-fuel production in the long run.
Energy and peak oil – May 7
– IMF working paper – “The Future of Oil: Geology versus Technology”
– World Oil: Aleklett’s new analysis of peak oil is refreshingly comprehensive
– Now Playing at a Computer Near You: The ASPO-USA Webinar Series
– T. Boone Pickens: Biggest Deterrent To U.S. Energy Plan Is Koch Industries
– Cheap Oil Built ‘The American Way’ but All the Cheap Oil is Gone
