The View from the Summit of Hubbert’s Peak
““Understanding depletion is simple. Think of an Irish pub. The glass starts full and ends empty. There are only so many more drinks to closing time. It’s the same with oil.” – Colin J. Campbell
Oil
How to deceive friends and influence people: Oil crisis lies
“Oil prices will rise through 2008 and stay high thereafter as demand increases and concern mounts that global production is nearing its peak,” according to analysts at Lehman Brothers Holdings Inc. (March 8, 2005)
When Lehman Brothers admits oil is peaking on Bloomberg, its time to fasten your seatbelts. The ride is going to be rocky.
Running on empty
The NY Times discovers Peak Oil! The article begins:
“If the cost of energy skyrockets, are the suburbs doomed? Would Long Island, already paying among the highest fuel and electricity rates in the country, become an unsustainably expensive place to live?”
Era of cheap oil over, says Kuwait official
“Prices will never [again] go under the $40 per barrel mark,” Hani Hussain, Kuwait Petroleum Corp’s chief executive, told Gulf News in an interview yesterday.
Indonesia’s crude output falls to 34-year low in February
Indonesia’s crude oil production fell to 942,000 barrels per day (bpd) in February due to technical problems on several wells, an industry source said yesterday.
Audio: Andrew Nikiforuk on High Noon for Fossil Fuels
Enagaging series that examines the wealth generated from fossil fuels in Alberta, how Canadians are consuming and exporting these natural resources, and what Canada’s energy future holds
The Militarisation Of Oil
Oil prices spiked to record levels last week, propelled by a rally in petrol prices and a cold snap in the northern hemisphere, against the backdrop of a tight balance between supply and demand. Yes, that’s right, basic “supply/demand,” not “political turbulence in the Middle East.”
Oil Demand Rises More Than Expected, Straining Supply, IEA Says
Oil demand this year will rise faster than expected because of cold weather and growing economies in the U.S. and China, straining the ability of producers to keep pace, the International Energy Agency said.
Opec has no capacity to lift quotas, says Algeria
Opec does not have the oil production capacity to enable it to lift supply quotas at next week’s meeting in Iran, Algeria’s Energy Minister said yesterday.
US report acknowledges peak-oil threat
The Hirsch report on “peak oil” is unprecedented in US government circles. It is not just the existence of the report itself that is such a landmark in the current oil debate. Its conclusions also pull no punches.
IMF ‘wants more spare Opec oil’
London : The International Monetary Fund will recommend that Opec more than double its spare capacity to cushion the oil market against shocks, the Financial Times reported yesterday.
China’s Upward Mobility Strains World Resources
If per capita income in China grows at eight percent per year — a reduction from the red-hot pace of 9.5 percent it has grown since 1978 — it will overtake the current per capita U.S. income in just over 25 years, according to the latest analysis by the Earth Policy Institute (EPI).
