ASPO August Newsletter
ASPO’s August Newsletter makes some essential, if bleak, reading. The projected peak date has been moved forward, the collapse of global financial systems and human populations are discussed and much more.
Oil
Energy crisis ahead
We know oil prices are at a record high. Production has peaked. No major new fields are being discovered. We are running out of oil, except in the Middle East and parts of Africa.
US destabilization in Latin American geopolitics has makings of real problems (excerpt)
The Venezuelan government say they reserve the right to suspend oil shipments to the USA in case of an eventual conflict or aggression.
Crisis, crunch or crumble: after Yukos, it’s time we started fearing for the future of Saudi oil
Sixty per cent of Saudi production comes from the ‘King of Kings’ field. If this starts to decline, production has peaked.
Indonesia and Oman
While much of the world is concerned about whether Saudi Arabia can deliver on its promise to produce an extra 1 million barrels of oil a day, far more attention should be given to OPEC and non-OPEC member countries whose production continues to fall.
Indonesia and Oman – their declines will outweigh Saudi increase
The declining oil production of Indonesia and Oman are greater than Saudi Arabias promised increases. Patterns of accelerated decline do not bode well for other old, aggressively worked, fields.
Getting warm in the search for future energy supply
Once production peaks then it can’t meet demand and then prices will rise and it will be the equivalent of the oil shock in the 1970s. That will be a huge boost to renewables.
Stark choices face us on energy use
Human nature is such that we tend to wait for a crisis to happen before we react. However, as the current series of articles on the looming energy crisis highlight, we do so at our peril.
New Book: Powerdown by Richard Heinberg
Powerdown is a brilliant analysis of the options available to a civilization facing resource depletion, biosphere collapse, and financial insolvency.
Trouble in the World’s Largest Oil Field-Ghawar
The data I am being told by engineers who have worked on Ghawar suggests that this decade will see it’s peak. As Ghawar goes, so goes the world.
Globe’s growing thirst poses challenge to big oil
In best-case scenarios, like Exxon Mobil, production is relatively flat. Many more energy companies are pumping less oil than they were a year ago.
Simmons: The Implications of Saudi Arabian Oil Declining (transcript – part 1)
There is no other oil producer on earth that can even begin over time to replace a significant short fall in Saudi Arabia’s oil. So if in fact, Saudi Arabia is at their peak production, then so is the world.
