ODAC Newsletter – Apr 8

The oil price hit a two and half year high this week of $123/barrel as the Libyan conflict continues to dominate market sentiment. This pushed the sterling value of crude to an all time high, exceeding even its level in the summer of 2008 when the dollar price reached $147/barrel, because the pound has slumped 17% against the greenback since then.

Can nuclear power be part of the solution?

As the unfolding nuclear disaster in Japan has shown, the costs of cleanup after a nuclear meltdown are borne in large part by national governments and taxpayers rather than the industry. Paying for cleanup is just one of many hidden costs of nuclear energy that make judging the value of nuclear power difficult. Many countries, including the United States, are rushing to build a new generation of nuclear power plants to reduce carbon emissions. However, the disaster in Japan should force us to take into account the full costs of nuclear power (and other energy sources).

Japan’s peak oil dry run

For large parts of eastern Japan that were not directly hit by the tsunami on 11 March 2011, including the nation’s capital, the current state of affairs feels very much like a dry-run for peak oil. This is not to belittle the tragic loss of life and the dire situation facing many survivors left without homes and livelihoods. Rather, the aim here is to reflect upon the post-disaster events and compare them with those normally associated with the worst-case scenarios for peak oil.

Tricking the atomic genie

Walt Disney’s “Our friend, the atom” was full of optimism and of hope for the wealth and prosperity that the atomic age would bring to us. It is a shock, today, to look back to those times and realize how much it had been promised and how little was actually delivered.