Oil

Presidential Candidates Seen Ignoring Consequences of Global Oil Depletion

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During months of often bitter campaigning, the U.S. presidential candidates have focused on many issues, but one that has gotten little if any attention is the problem of oil depletion, often referred to as “peak oil”; the point at which global demand for petroleum exceeds our ability to extract it.

Supply, demand and oil

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Saudi Arabia has sold and is selling far more oil than it would if basic economic principles were observed. The excess — the difference between the volume of oil actually supplied and the volume that should be supplied in the strict observance of the national economic interests of Saudi Arabia — is in fact a subsidy it grants the West, Japan and other oil-importing nations.

UK: What is EDM 199?

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An as yet undiscussed Early Day Motion (EDM 199) before the British Parlaiment states ‘that this House notes the growing consensus amongst the world’s leading petroleum geologists and geophysicists that the peak of global oil production will occur at some point within the next 10 years…’

Energy Transition and Final Energy Crisis

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The current ‘oil price crisis’ in reality reflects an emerging and permanent supply crisis for oil and gas (which currently provide about 65% of world commercial energy). Initially, this will concern ever slower net additions of world production capacity in the face of strong demand growth, and will manifest itself as continued oil price rises, and continued gas price rises.