Insight and inspiration in turbulent times.
The Stone Age didn’t end because we ran out of stone; we found something better, we replaced stone with iron but this transition took centuries. This time according to Dr Hirsh we have about a decade if we are lucky and a replacement for oil is yet to be identified.
In a monthly report released last week, the IEA cut its forecast for non-Opec supply growth by 175,000 barrels per day (bpd) to 910,000 bpd, pointing to prolonged disruptions in Organisation for Economic Cooperation and Development (OECD) producers and lower expectations for Russia.
A succinct introduction to concept of Peak Oil, from a mainstream energy publication, with focus on the technical aspects rather than the wider implications.
““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
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?”
“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 oil production fell to 942,000 barrels per day (bpd) in February due to technical problems on several wells, an industry source said yesterday.
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
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 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 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.
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.
