Oil

Peak oil – Feb 8

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Oil sector’s problem replacing reserves could worsen
Big picture Russia: oil production & taxes
CERA oil conference: the $22 trillion question
Deffeyes: the second Great Depression
Gail Tverberg’s PO tutorial (part 2)
Keeping the oil flowing

Sheryl Crow’s apocalyptic peak oil song

Proportionality

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There is a strange clause in the North American Free Trade Agreement (NAFTA) that applies to only one country—Canada. The clause states that Canada must continue to supply the same proportion of its oil and gas resources to the US in future years as it does now. That’s rather a good deal for the US: it formalizes Canada’s status as a resource satellite of its imperial hub to the south.

Peak oil – Feb 7

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WSJ: Peak-oilers put money where mouths are
BP to ‘put lights out’ on North Sea
Telegraph: Why the price of ‘peak oil’ is famine
David Strahan at World Energy Summit
Analyst Maxwell: PO means 10-year crisis

Desperately seeking energy in Lincoln, Mass.

Back up the rabbit hole

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At several points in the last quarter century, due to a brief constellation of short-term factors, petroleum prices dropped to levels lower in constant dollars than ever before in history. Collective decisions made on the assumption that such prices were normal need to be revisited in a hurry as more realistic energy costs reassert themselves.