Peak oil review – June 20
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Iraq
-The IEA’s reports
-China
-Quote of the week
-Briefs
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Iraq
-The IEA’s reports
-China
-Quote of the week
-Briefs
We’re not talking about slamming the brakes on fossil fuels. Even as our contribution to creating Peak Oil awareness begins to see a little light (at least in some circles), I am concerned that we will be so worried about saving our own bacon or appearing to be rational that we will fail to take posterity into account. If we are to save just a little oil for our children, we need to just plain stop using oil (gas, coal).
Neither an economist nor a formally trained scholar, Dmitry Orlov is perhaps best described in his own words, as “more of an eyewitness” to the phenomenon on which he writes. He’s a Russian émigré who saw the Soviet Union fall firsthand and has been drawing on this experience in warning of the coming U.S. collapse. He came to fame five years ago with a smash-hit Internet article that won him a loyal following and a subsequent book deal. The book, Reinventing Collapse, is now in its second edition—and regardless of how well it holds up to scholarly scrutiny, it’s admirable in its wit and prodigious street smarts.
The collapse of the Greek government amidst a wave of popular protest and riots sent markets reeling this week. The Greeks reject the austerity measures attached to their bailout by the Eurozone, and there is serious concern that other countries will follow…
As nations compete for currency advantages, they are also eyeing the world’s diminishing resources—fossil fuels, minerals, agricultural land, and water. Resource wars have been fought since the dawn of history, but today the competition is entering a new phase. From Richard Heinberg’s new book ‘The End of Growth’.
A new paper by NASA’s James Hansen suggests that immediate and drastic declines (ca. 6% annual) in industrial CO2 emissions are required to avoid catastrophic climatic destabilization. As no realistic political solution exists for such immediate CO2 reduction, prospects for a livable future have now become dependent on a single back-breaking option: rapid global economic collapse. And in ‘Deus ex machina’ style, we may get it just in time.
A midweekly roundup of peak oil news, including:
-Developments this week
-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
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.
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.