Insight and inspiration in turbulent times.
I decided to write another rather basic level article because there are so many people I meet who have heard a bit about the oil situation, and it is hard to point to one single article to give an overview of some of the current issues. Regular readers will find many repeats of graphs. There are some new ones, as well, from the Denver ASPO-USA conference. Because there is so much to tell, the story gets a little long.
-The most recent economic downturn is a peak oil recession
-Oil: future world shortages are being drastically underplayed, say experts
-Oil reflects dollar moves, not market dynamics: Yergin
-Is the world awash in oil?
The truth is that we have at least two central problems (the economic one is tied to both in the long term), and only people who can get their mind around the combined difficulty will have anything useful to offer. Yes, we need to know how what fossil fuels are in the ground – and we also can’t burn them rapidly. Yes, we need to address climate change – and we need to stop lying and claiming that we can have it all – a happy growth economy based on renewable energy, yada yada.
As peak oil sets in while the world is growing thirstier for oil, what benchmark should be used to assess if you are weaning yourself from oil?
The IEA 2009 World Energy Outlook, the report which informs energy policy for 28 nations, was released on Tuesday in London. The report’s key focus this year was climate change…
A front page report November 9, 2009 in The Guardian tells us that “Key oil figures were distorted by US pressure, says whistleblower.”
This is part 2 of my post on oil demand. This time I look at the Non-OECD demand and how it may impact global oil demand. Based on data from the 2009 BP Statistical Review, the OECD oil consumption in 2008 decreased by -3.2% while demand within emerging economies increased by +3.1%. The report also indicates that oil production from OECD countries has been declining since 1997 and is now below 23% of the world production.
I read Sally Erickson’s post on Energy Bulletin, and as a clinical psychologist, I gotta tell you, I found it sort of depressing. It wasn’t her criticism of psychotherapy. I understand her point about psychotherapy not healing a sick culture. James Hillman made the same point in “One Hundred Years of Psychotherapy and The World’s Getting Worse.” But golly, if we’re here anyway, shouldn’t we have some role as Peak Shrinks while the world as we know it collapses around us?
Occasionally, you just need to avoid saying Peak Oil. In some company, it’s tantamount to betrayal, in others, too much like a fart at the dinner table. Other people believe peak oil is the realm of cults and conspiracy theorists, and as such, if you want to discuss it without an auto-reflex of denial on the part of your communication partner, you have to use some other terms.
According to Nobel Laureate Joseph Stiglitz and Harvard economist Linda Bilmes, the Iraq War cost three trillion dollars. While much of the money used to conduct the war was borrowed (most notably from Chinese institutions), ultimately American taxpayers will be responsible for many years to come for footing the bill, including the high interest payments on the funds loaned.
On the eve of the International Energy Agency’s release of its annual World Energy Outlook (WEO), a whistleblower at the IEA claims the agency “has been deliberately underplaying a looming [oil] shortage for fear of triggering panic buying” in the world markets.
A weekly review including:
– Production and prices
– IEA wacked before report released
