Insight and inspiration in turbulent times.
Was the most recent American election outcome determined by the presidential debates, changing demographics, voter views on issues, Hurricane Sandy (and the president’s reaction to it) or voter turnout?
Global oil production has been on a plateau, at historically high prices, for so long now that it seems unlikely that it will ever resume sustained growth at the rates we saw in the decades prior to 2005. The only possible outcomes are prolonged stagnation, which some like to call the “bumpy plateau”, or decline of global production. The rate of decline, of course, will be critical to the future of the global economy and is the core of the IMF’s recent paper.
The US as the new Saudi Arabia, energy insecurity for most of the rest of the world, and climate chaos for everyone – such were the headline points of the latest World Energy Outlook from the International Energy Agency.
A midweek update.
Globally, only two reports are published on an annual basis wherein the world’s energy situation is fully scrutinized…A number of years ago China decided it needs its own version of the truth.
•IEA Oil Forecast Unrealistically High; Misses Diminishing Returns •2012 World Energy Outlook: James Hamilton •IEA report reminds us peak oil idea has gone up in flames •US to overtake Saudi Arabia in oil as China’s water runs dry •Did Peak Oil Doomers Fixate On a False Scenario?
•World Energy Outlook 2012 Executive Summary •U.S. Oil Output to Overtake Saudi Arabia’s by 2020 •IEA calls for focus on energy efficiency •IEA cuts global forecast for growth in nuclear capacity
A weekly update, including:
-Oil and the Global Economy
-The Middle East
-The Superstorm’s Aftermath
-Europe
-Quote of the Week
-The Briefs
Climate destabilization eclipses all other security threats to human civilization except for a major nuclear war. But the current global economy gives no signals to investors and consumers about the profound implications of climate destabilization on water cycles, agriculture, and humanity’s ability to grow food for seven billion people.
The end of the US election season and a return of the incumbent Barack Obama saw oil markets turn their attention back to the economy. Despite much talk of upside the picture remains bleak with the US showing a huge deficit, and the EU still unresolved on how to deal with its highly indebted members. Oil prices showed their steepest decline of the year on Wednesday before recovering slightly to around $107/barrel for Brent.
•Meet the man the oil industry goes to for a voice of gravitas in the US election •Iran MPs draft law to cut oil exports by a third •Balance of power shifts in changing world of oil •Federal scientists muzzled on oilsands •Oil lobby and Koch-backed groups spent $270m on anti-Obama ads
A mid weekly update.
