Insight and inspiration in turbulent times.
Thirty days on from its decision to release reserve oil stocks, the IEA announced Thursday that it will take no further action for the moment. This, along with positive news from the latest European emergency summit, and signs from Washington that the US may avoid its looming self-inflicted default, saw oil prices strengthen to more than $118/barrel.
At last count there were at least a dozen mega dangers looming on the horizon all of which have the potential to change the nature of global civilization in profound ways. Yet the body politic seems to take little or no notice and concerns itself largely with issues that will soon be swept away by change. These dangers range from the depletion of our fossil fuel and mineral resources, to shrinking food and water supplies, to rising oceans, to political upheavals.
A midweekly roundup of peak oil news, including:
-Developments this week
-Japan’s nuclear industry
Checkout what went on at our latest web chat with Bill McKibben, David Hughes and Kate Sheppard.
Richard Heinberg hosts a conversation with Rob Hopkins on New Thinking in Transition. The podcast begins with Rob giving an update on what is going on in the Transition movement and introducing the upcoming Transition handbook, and is followed by a Q and A.
A spanish translation of the Post Carbon Institute report ‘The Food and Farming Transition: Toward a Post-Carbon Food System’.El sistema alimentario norteamericano descansa sobre unas bases inestables de insumos de combustible fósil masivos. Ante la disminución de las reservas de combustible el sistema alimentario se debe reinventar. El nuevo utilizará menos energía, y la energía que use vendrá de fuentes renovables. Podemos empezar la transición al nuevo sistema inmediatamente mediante un proceso de cambio planificado, graduado y rápido. La alternativa no planificada –la reconstrucción desde la base tras el colapso- sería caótica y trágica.
The UK desperately needs a new energy strategy based on a realistic assessment of its assets, its needs and the options available to it. Unfortunately, its freedom for technical and financial manoevre is deeply restricted by its self-imposed Climate Change Act and its commitment to the EU’s 20-20-20 targets.
A weekly roundup of peak oil news, including:
-Oil and the global economy
-the Middle East
-Global energy shortages
-China
-Quote of the week
-Briefs
On June 23rd, the International Energy Agency (IEA) and the US government announced the intention to tap strategic petroleum reserves (SPRs) of the US and other countries, with an eye to reducing oil prices. The US was to provide 30 million barrels (mb) and other countries a similar amount, for a total draw of 60 million barrels.
In Part 1 of this post, I pointed out that an economy is closely linked with the resources that underly it. Because of this, if there is really is a limit that prevents oil supply from rising endlessly, then there is also a limit that prevents debt from rising endlessly. I talked about seeing a two-way link between peak oil and peak debt…
The world could soon be short of oil again, despite the worsening fiscal crisis, says the IEA. Although the turmoil in Europe threatened to engulf Italy – with the world’s third largest bond market – and the US budget standoff threatened its AAA credit rating, the Agency raised its 2012 oil demand growth forecast by 270,000 barrels/day.
KMO welcomes repeat guests Richard Heinberg and Dmitry Orlov back to the C-Realm Podcast to compare notes on the state of economic transition in which we find ourselves. In his new book, The End of Growth: Adapting to Our New Economic Reality, Richard makes the case that we have reached a crucial inflection point in economic history after which human progress and well-being must be de-coupled from economic growth. Dmitry describes a near-term future in which the United States has been dismantled by its creditors, whom he describes as trans-national mafias.
