Insight and inspiration in turbulent times.
The IEA forecast this week that non OECD oil demand overtake OECD demand for the first time next year. The agency advised that economic slowdown is likely to keep a lid on oil prices in 2013, but there was still a chance of “nasty supply surprises”…
– Debate over natural gas drilling now being waged at universities
– Guatemala farmers losing their land to Europe’s demand for biofuels
– Tax Billionaires, Carbon to Improve Prosperity, says UN
– Is Union Busting to Blame for Power Outages in D.C.?
– David Suzuki: Renewable Energy, Not Carbon Capture and Storage
– Oil posts fourth biggest daily gain on record
– Oil Surges Most in More Than a Year on European Agreement
– We Could Stop Importing Oil From the Middle East Today If We Wanted To
– A Skeptic Looks at Alternative Energy
The novel describes a future in which humans have evolved into an entirely new species, the Neu-humans. They are distinguished by their short tails, freckled appearance and super-intelligence—along with a strong tribal sensibility that compels them to tread lightly upon the planet and always make decisions rationally. The story involves an archaeological journey to the “Lands of Oregon,” from what is now northern Canada, to discover the missing link between humans and Neu-humans. The year is 3100.
This week saw further confirmation that all is not well in the shale gas industry as ExxonMobil CEO Rex Tillerson admitted “We are all losing our shirts today.”…”We’re making no money. It’s all in the red.” The news comes as little surprise since the price of production is estimated to be around $4-7/per million BTUs and prices have been languishing around $2…
There’s an interesting divergence between the extreme complexity of the predicament that besets contemporary industrial civilization, on the one hand, and the remarkable simplicity of the failures of reasoning that have sent us hurtling face first into that predicament, on the other. Nearly all of those failures share a common root, which is the inability—or at least the unwillingness—of most people in the modern world to pay attention to the natural cussedness of whole systems.
Oil prices plunged to less than $89/barrel this week, an eighteen-month low, amid deepening economic gloom. Suddenly everyone is in the business of predicting just how far the oil price might fall – Credit Suisse has forecast $50/barrel – and for how long. One particularly interested and anxious observer is likely to be Vladimir Putin. With around 50% of Russia’s revenue coming from oil and gas the Kremlin is worried about the potential for a budget shortfall.
This week saw the release of the annual BP statistical energy review. In the words of the press release 2011 was a year of “disruptions to supplies and ever-increasing demand”. The big stories for oil were supply disruption in Libya, a record average oil price of $100/barrel, an average annual Brent price rise of 40%, a decline in OECD consumption of 600,000 bpd, and an increase in US production of 275,000 bpd — the largest increase outside OPEC…
– Germany Meets Half Its Energy Demand From Solar, Briefly
– The new new hydropower: Small-scale turbines have big potential
– National Defense: Efficiency and Conservation Not Enough to Achieve Energy Security
– Energy now hitting pop charts (Muse and the 2nd Law of thermodynamics)
The military imperative is to prepare. In many ways, it’s leading the way in the development of new energy sources, said Brandon Fureigh, advocacy director for the Truman National Security Project. And with a massive budget and an oversized carbon bootprint, the military is in a good position to drive innovation. “The military has always been a good testing ground for technology in general and one reason is they have a large budget,” he said, noting how ideas sparked by military research trickle into the general business arena. Its budget for clean energy has tripled in the last four years to $1.2 billion.
After Part One, this is Part Two of my thoughts on some of the energy related themes of this ASPO conference and where we find ourselves now.
A lot of money and effort is spent in order to find technological solutions for storing the energy produced by renewables, but very little to understand what the real problem is. How much energy storage do we really need? And is it true that if we don’t have 100% energy storage then renewables are useless, as some people say?
