Oil

Mr. Market gets it wrong again

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Let me take a moment to explain why oil prices reflecting actual market conditions might be important to us. Regardless of whether we are in the Peak Oil Era — we probably are — in 2009, we would like to know at all times what the relative abundance of the Elixir of Life (with respect to demand for it) for Industrial Civilizations is.

The myth of efficiency

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What makes efficiency? Is it clever management? The “productivity” of human resources? Economies of scale? Centralization? Better information and computer systems? The competition of markets? Business people give credit to these innovations, and all of these changes may contribute incrementally to the cheapness of our food, but these are just icing on the cake. The real underpinning of what we think of as efficiency is cheap energy – especially cheap oil.

Energy conservation key to R.I.’s economic future

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Contrary to what many now believe, Rhode Island’s relative prospects are excellent. This is because the primary challenge to America’s economic recovery is likely to be the cost of energy. As recovery spurs rising energy consumption, prices will increase, perhaps dramatically. Since energy underpins all economic activity, those regions capable of operating in an energy-constrained environment will have relatively bright futures. Rhode Island, which already uses less energy per person than any other state, is particularly well-suited to meet the challenge.

Commentary: The Great Divide on Energy Policy

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At the 2009 Offshore Technology Conference (OTC) in Houston two weeks ago, the top issues revolved around policy questions more than technology, such as drilling the Outer Continental Shelf (OCS) and climate change legislation. I saw little in the way of progress, however.

Peak oil – May 18

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Dave Hughes’s guide to the end of the fossil fuel age
Byron King: Buckle your seat belts — investment earthquake in the energy sector ahead
A maverick’s message on oil (Jeff Rubin)
Plateau theory drives Total to oil sands
Brain power can meet the energy crisis

Oil sands and our future pensions

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“Swesif”, Sweden’s Forum for Sustainable Investment, had invited me to a symposium on “Tar sands – an ethical pitfall?” The reason for the discussion on tar sands is that Norway’s Statoil is going to invest huge amounts into the tar sands and Swedish pension funds are investors in Statoil. My task was to describe the role of Canada’s tar sands in the global energy system and to discuss the significance of tar sands for global energy supply.