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Insight and inspiration in turbulent times.
Plenty of ink has already been spilled by oil depletion experts exposing some of the wildly optimistic assumptions contained in Maugeri’s report. More damning is that the work is shot through with crass mistakes that render its forecast worthless. When I interviewed him, Mr Maugeri was forced to admit a mathematical howler that would disgrace the back of an envelope…
Lower oil and US gas prices saw Q2 profits down at most of the oil majors, though Exxon recorded another record quarterly profit of $15.9 billion due to asset sales…
In surveying the multiple, uprisings, insurgencies, insurrections, confrontations and what have you currently going on in the Middle East, it is hard to believe that all this turmoil will not eventually find its way to our local gas pumps. In the last week the overall situation clearly has taken a turn for the worse with large numbers of Syrian insurgents infiltrating Damascus and Aleppo for the first time accompanied by the spectacular bombing of a security meeting that killed four of the regime’s top leaders.
-High oil prices are caused by consumers, not speculators
-Oil Price Spike Exacerbated by Wall Street Speculation?
-Crude truths about oil prices
-James Howard Kunstler on Why Technology Won’t Save Us
-Power by the People
-Nuclear power vs. people power
-Breakthrough Material for Carbon Capture Developed
-Effect of Global Warming on U.S. Energy Consumption
-The missing link to a $7 billion market
The pipeline debate is often framed in terms of whether the jobs it will create justify its environmental risks. Let’s ignore those risks for the moment. Forget climate change. Forget leaks. Forget potential damage to streams and aquifers. Now does the pipeline make sense?
Not much.
– Chris Nelder: Is peak oil dead?
– Oil, politics and resource wars (interviews with Robert Hirsch, Michael Klare … )
– The Unfinished Story of Iraq’s Oil Law: An Interview with Greg Muttitt
– Will Drought Cause the Next Blackout?
A weekly roundup of peak oil news, including:
-Oil and the global economy
-Middle East in turmoil
-The drought worsens
-Quote of the week
-Briefs
Only the oil industry would now have the audacity once again to peddle a story that it has gotten wrong for more than a decade as if it were brand new. Enlisting the media and its army of paid consultants, the industry is once again telling the public that oil abundance is at hand. And, what is doubly audacious is that it is promoting this tale as oil prices hover at levels more than eight times the 1999 low.
The usual assumption that economists, financial planners, and actuaries make is that future real GDP growth can be expected to be fairly similar to the average past growth rate for some historical time period. This assumption can take a number of forms–how much a portfolio can be expected to yield in a future period, or how high real (that is, net of inflation considerations) interest rates can be expected to be in the future, or what percentage of GDP the government of a country can safely borrow. But what if this assumption is wrong, and expected growth in real GDP is really declining over time?
Oil prices rose this week as geopolitical tensions trumped economic concerns. The Syrian conflict, oil sanctions against Iran, and a suicide bombing of an Israeli tourist bus in Bulgaria, which Israel blamed on Iran, all added to fear of disruption in the region…
Some parts of the world pretty much sailed through the 2008-2009 recession, while other parts of the world had huge problems. The part that sailed through the recession is what I call the “Growing Part of the World”. I thought it would be interesting to see how the countries in the “Growing Part of the World” have behaved over the long term with respect to a number of variables (energy, GDP, and population). I compare these countries to two other groups of countries which did not fare as well during the 2008-2009 recession: European Union 27, United States and Japan, and the Former Soviet Union (FSU).
