The Peak Oil story got some things right.
Many reasons have been provided for the dramatic plunge in the price of oil to about $60 per barrel (nearly half of what it was a year ago)…
Oil prices plunged to a four year low of just $85 per barrel this week – down from around $115 as recently as mid-June.
Three more years? That’s pretty scary! Surely there must be a mistake in that headline.
The recent growth in the “oil” production has been nowhere near what had been normal prior to the “Great Recession,”…
Since the autumn of 2011, a storyline of “oil revolution” and oil abundance–even “North American energy independence”—has taken the US media by storm.
De Wereld Morgen asks Richard Heinberg about the prospects for fracking in Europe.
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Detroit’s Motown legacy has put the spotlight on the vulnerability of the American car culture. Despite an oil shale boom and years of money printing US oil demand has hit a wall.
A person might think from looking at news reports that our oil problems are gone, but oil prices are still high. In fact, the new “tight oil” sources of oil which are supposed to grow in supply are still expensive to extract. If we expect to have more tight oil and more oil from other unconventional sources, we need to expect to continue to have high oil prices. The new oil may help supply somewhat, but the high cost of extraction is not likely to go away.