Insight and inspiration in turbulent times.
New discovery by oil companies – sustainability /
Car columnist says cheap oil gone forever /
Systems, interdependencies and peak oil /
Strapped commuters seek fuel bargains /
Oilcast: Riots, power cuts and Colin Campbell… /
Huge oil profits go for exploration /
Big oil’s output is shaky, but not its profits /
Wales: Fears over future energy sources /
Oil depletion? It’s all in the assumptions
What is the third date in the great Peak Oil saga? It is the year in which alternate energy sources finally offset the equivalent decline in crude oil production. Prior to that date, oil production will in general keep falling but the energy equivalent delivered by solar, wind, nuclear, etc. will always be less.
The big losers from the energy shortage are likely to be the world’s poor nations. Between them, the U.S., Western Europe and Japan—the old industrial centers—and the rising economies of Asia are driving up prices to levels that most of sub-Saharan Africa and countries such as Yemen and Bangladesh will not be able to afford.
“It took us 125 years to use the first trillion barrels of oil,” notes Chevron Corporation’s two full-page ad that began appearing in July in the Wall Street Journal, the Economist, Financial Times and elsewhere. “We’ll use the next trillion in 30,” the ad continues, thus quietly admitting to the Peak Oil that the industry has not previously disclosed.
Huge, tarlike deposits in Canada and Venezuela will be critical over the next 50 years to the supply of liquid fuels as the world’s production of easily pumped oil plummets. Yet, turning this nonconventional oil source into synthetic oil is not likely to be the solution to our energy crisis, as some claim. Canada is no Saudi Arabia.
PowerSwitch recently held a conference outside London, titled Peak Speak, providing a platform to discuss the causes, consequences, and mitigation of the peak and decline in global oil production, and action that can be taken. Report includes notes on the speakers, topics they covered, and links to presentations.
Spurred by the nation’s relentless thirst for energy, geologists are suddenly taking a fresh look at the oldest oil-producing basin in the world. They are wondering if Mother Nature stashed a jackpot in the cellar, down deep where the rocky roots of the Appalachian Mountains spread into Ohio.
Wildcat drillers in China are battling Beijing after the State resumed rights over their oil wells.
On 11 October 2005, in London, a major conference will look at the peak
oil problem and its impact on climate change, the world’s food supply and
the world economy. Speakers include Michael Meacher MP, Tim Lang and
Andrew Simms (of NEF), and the chair will be Dr Ian Gibson MP. The
conference is being organised by East Anglia Food Link, CRed, Sustain and
PowerSwitch.org.uk.
Peak Oil is coming soon, no doubt about it in my mind. But like religious groups who set the date for the Second Coming only to end up looking like fools, some caution is advised. If Peak Oil is postponed for a few more years due to a recession, the number of peak oil books and websites will also decline. If that happens, the actual peak in oil production may arrive with more of a whimper than a bang…
A new 30min Peak Oil documentary DVD will be launched on Friday 15th July. Produced by Amund Prestegard, and recommended by Colin Campbell, it takes a look at the causes and consequences of Peak Oil, with a focus on the UK.
Politely framed and important challenge to the peak oil argument, questioning why oil suppliers would willingly for-go the massive potential profits:
"…So how could it be that there are billions and billions of easy dollars to be made, and nobody can be bothered to collect them? Unless you have a clear answer for that question, an economist at that point is going to ask whether you’re sure that you’ve got all the facts straight, that oil really is going to sell for $200 a barrel in just two years."
