Insight and inspiration in turbulent times.
– Secret UK memos expose link between oil firms and invasion of Iraq
– NYT on Hyrdrofracking: Chemicals Were Injected Into Wells, Report Says
– Decision looms on Mekong River dam opposed by conservation groups
– Sasol’s Plan For North American Shale Gas: Turn It Into Diesel
– Big Coal’s Dirty Secret: Breakthrough New Study on Longwall Mining Regulatory Failure and Ruin in Pennsylvania
– Canada military report: Oil shortages and environmental decline could create ‘global quagmire’
– ETH Zurich: Unsung bedrock of prosperity (phosphorus)
– Era of ‘tough oil’ won’t deter drillers
– What happens when we run out of water?
Nobody’s yet accused Tom Donohue of leading a dark cult to enslave the human race like high priest Mola Ram in Indiana Jones and the Temple of Doom. But Bill McKibben seems to think that Donohue has cast an evil spell over his country’s young ruler in order to make him do his bidding.
A weekly roundup of peak oil news, including:
-Oil and the global economy
-China continues to grow
-Saudi production
-Quote of the week
-Briefs
Does the Saudi oil minister’s statement that the oil market is oversupplied make any sense? Saudi production goes down in the face of rising demand, and prices skyrocket, and that shows the market is oversupplied? Wouldn’t prices have dropped drastically during that period if the market had been oversupplied?
– Oil Without Apologies: Chevron’s CEO on energy and peak oil
– Japan, Oil and the Fragility of Globalization
– Thinking about peak oil and Transition in Ghana
– While the Saudi elite looks nervously abroad, a revolution is happening
The IEA reported this week that there are preliminary signs of oil demand destruction due to soaring prices. Goldman Sachs underlined this viewpoint on Tuesday by advising its clients to sell oil, copper, platinum and cotton. Prices fell in response, although concern over conflict in the Middle East and Saudi production saw prices nudging up again by the end of the week.
Instead of Saudi production increasing to compensate for Libya, total world production decreased, and oil prices went up sharply to enforce the necessary conservation on the world’s oil consumers.
A midweek roundup of peak oil news, including:
-Developments
-The Oil Market Report
The International Monetary Fund recently released its latest World Economic Outlook (WEO), April 2011. Chapter 3 of this document is titled, “Oil Scarcity, Growth, and Global Imbalances” (36 pgs). As far as this author is aware, the IMF has not done any previous work on peak oil, and the new Outlook seems to be the first acknowledgment by the IMF that the peaking of global oil production is a situation which could be both imminent and serious.
– Bolivia enshrines natural world’s rights with equal status for Mother Earth
– Bolivia After the Storm (raising fuel prices)
– German Greens on the rise
– WikiLeaks cable: Politicians, military – not militants – behind most Nigeria oil thefts
Rob Hopkins describes our fossil-fuelled industrialised lifestyle as an addiction. We’re addicted to oil. And that presents humanity with a major dilemma: we find ourselves stuck inside a destructive self-replicating system with very few ideas of how to get out of it. We can either get together and find ways to liberate ourselves, or face the consequences of a planetary meltdown. Tough call either way.
