Insight and inspiration in turbulent times.
In the first installment of this series, I reviewed U.S. and global oil reserves according to the 2012 BP Statistical Review of World Energy. The second installment covered oil production. Today, I want to examine the changes in consumption of coal, oil, and natural gas since 1965 in the three major consuming regions of the world: Asia Pacific, the United States, and European Union countries.
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Iranian confrontation
-The IEA’s monthly assessment
-Quote of the week
-Briefs
As I perceive it Climate change and Peak Oil are the two most serious threats to biodiversity, human life, and civilisation as we know it. The main purpose of this talk is to consider three possible visions or scenarios concerning Peak Oil and Climate Change.
Summary: A common concern in the comments expresses fear of resource exhaustion, perhaps even leading to collapse of civilization. Here we examine the theory, evaluate the risks, and point to sources of more information.
The IEA forecast this week that non OECD oil demand overtake OECD demand for the first time next year. The agency advised that economic slowdown is likely to keep a lid on oil prices in 2013, but there was still a chance of “nasty supply surprises”…
In this weeks episode of R-Squared Energy TV, I discuss the recently released paper by former Eni executive Leonardo Maugeri — in which he suggests global oil supplies will increase by 17 million barrels per day by the end of the decade — as well as George Monbiot’s highly publicized reaction to the report.
Since 2005, the "total oil supply" for the United States as reported by the Energy Information Administration increased by 2.2 million barrels per day. Of this, 1.3 mb/d, or 60%, has come from natural gas liquids and biofuels, which really shouldn’t be added to conventional crude production for purposes of calculating the available supply. Of the 800,000 b/d increase in actual field production of crude oil, almost all of the gain has come from shale and other tight formations that horizontal fracturing methods have only recently opened up. Here I offer some thoughts on how these new production methods change the overall outlook for U.S. oil production.
One has to go back to the 1930’s to find a time when so much of civilization was in turmoil at once.
A midweekly roundup of peak oil news, including:
-Developments this week
In the first installment of this series, I took a look at U.S. and global oil reserves according to the 2012 BP Statistical Review of World Energy. Today, I want to examine oil production statistics since 1965.
– Norway: A Political Risk Lesson For Oil (oil workers strike, prices rise)
– Are Natural Gas Liquids as Good as Oil?
– „Das ganze Land in Gebrauch nehmen“ – Norway plans to drill in the Arctic
– Peak Oil Reloaded (1/2)
– « Nier l’imminence du pic pétrolier est une erreur tragique », dit l’ancien expert pétrolier de l’AIE
– Nicole Foss: The Guardian Is Ignoring The Critical Paradox Of Peak Oil
– The world is oil rich so let’s all enjoy it while we are here
– How Many Years Of Oil Do We Have Left To Run Our Industrial Civilization, Keeping In Mind That Oil Is A Resource And Has An Economical End?
– Europa am Peak
– Le altre fossili, la sfida dello shale
