Insight and inspiration in turbulent times.
Oil prices remained steady this week as the closure of the Keystone pipeline in the US to address possible safety issues balanced bearish news on the Chinese economy. Beijing reported that Q3 saw growth slow to 7.4%, compared to the same period last year.
A midweek roundup of peak oil news, including:
-Developments this week
Post Carbon Senior Fellow Richard Heinberg took his challenging and compelling messages on resilience, sustainability and a healthy future to Auckland, New Zealand. He asked and answered some of the most challenging questions we face today.
-How To Destroy Rivers Communities Softly, Softly
-Nigeria oil spills: Shell rejects liability claim
-Top Kill [Afternoon Drama]
-Invasion of Iraq causes epidemic of birth defects
-Ecuador Oil Pollution Case Only Grows Murkier
-Richmond Refinery Fire Unites Communities Divided
An analysis of Leonardo Maugeri’s optimistic forecasts on oil production, which have been trumpeted in the media.
Jean Laherrère, a retired petroleum engineer, worked 37 years for TOTAL on exploration and production of oil and gas.
A weekly review including:
-Oil and the Global Economy
-The Middle East
-IEA Reports
-Fuel Prices
-Quote of the Week
-The Briefs
But there is a curious sensation around. You know, it is like one of those disaster movies; those where you know that the tsunami will arrive, or the dam will burst, or the volcano will erupt right under Los Angeles. Before the catastrophe, you see people worried about their everyday things; oblivious of the impending disaster. And yet, there are ominous signs all over that “something” is going to happen.
With gasoline scaling $4 a gallon recently, plans announced last week by international oil giant BP to export U.S.-produced crude oil ought to have Americans howling. For such a plan to be good energy policy–rather than merely profitable for the oil industry–the United States would have to be producing more than enough oil to meet its own needs. But the country produces nowhere near that amount. Nevertheless, the industry’s deceptive campaign to make the public and policymakers believe that the United States is on the verge of energy independence seems to be succeeding–a push that is really just a smokescreen for selling the country’s oil and natural gas to the highest bidder.
The International Energy Agency released a new report this week in which it took a detailed look at the prospects for the Iraqi oil and gas industry out to 2035. The conclusion is that oil production in Iraq could increase significantly by 2020 – doubling or even trebling IF, and it is a big if, there is huge investment…
A midweek roundup of peak oil news.
-World Energy Outlook Special Report 2012 – Iraq Energy Outlook [press release]
-IEA sees Iraqi oil output doubling to 6.1 mil b/d in 2020
-Awaiting the Iraqi oil rush
-Will Iraq’s energy boom postpone peak oil yet again?
These thoughts are prompted by the latest wave of lobbying by British business interests for a third runway at Heathrow. I get weary writing about this: I went through the relevant trends at length a couple of years ago and found that in terms of air transport in the richer world almost all the trends were headwinds.
