Peak Oil is You

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News from March 2008

UK: Norfolk Broads ‘could be lost to sea in a year’

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The Norfolk Broads will be lost to the sea, the head of the Environment Agency has said Lady Young warned that the one metre of sea level rise predicted by climate change scientists this century if greenhouse gas emissions continue to rise would put “I think the Norfolk Broads will go. They will definitely salinate,” […]

British Airways profits slashed by Goldman Sachs

British Airways flew into more trouble this morning after investment bank Goldman Sachs downgraded the stock from a “buy” to a “sell” saying lower revenue and oil prices would cut profits by up to 46 per cent. British Airways is already reeling from the chaos in the opening days of its The fiasco has resulted […]

Rx: Canned goods and ammunition

But real assets will help provide diversification, inflation protection and a wager on growth …Without going overboard When financial assets disappear, real assets still have real value. You can eat food and live in a house. Growing populations, rising standards of living and a finite planet argue for resource prices to rise. Chinese demand for […]

Australia: NASA scientist asks Rudd to halt coal exports

A NASA scientist has asked Prime Minister Kevin Rudd to halt all coal exports from Australia, claiming they are causing irreparable damage to the planet. Mr Rudd, who is currently on a world tour that takes in the United States, Europe and Asia, also at the weekend spoke with US President George W. Bush about […]

Setbacks cast pall on Saudi gas fields

Saudi Arabia If that happens, and the kingdom has less gas than expected, it will be forced to divert more of the oil it produces for its own use, leaving less to fuel the rest of the world

Visiting editors’ parting shots: Oil, vouchers and volunteering

There’s a topic to be discussed at the intersection of economics and the environment that doesn’t get the attention it deserves. The topic is “peak oil.” “Peak oil refers to the time when humanity is no longer able to produce more oil globally than we did the year before,” according to www.seattleoil.com, a Web site […]

As Jobs Vanish and Prices Rise, Food Stamp Use Nears Record

Driven by a painful mix of layoffs and rising food and fuel prices, the number of Americans receiving food stamps is projected to reach 28 million in the coming year, the highest level since the aid program began in the 1960s. …Because they spend a higher share of their incomes on basic needs like food […]

Ghawar Numerology: Drilling in Uthmaniyah

NOW SHOWING: a movie on the drilling of Uthmaniyah. Using a set of wells in a productive (but now rather depleted) slice of this part of the Saudi oil field of Ghawar, it is possible to deduce to drilling sequence of these wells using the identifiers assigned to the wells as they are drilled. Given […]

World’s phosphorus situation scares some scientists

As production of biofuels increase to counter dependence on foreign oil and high fuel prices, some scientists worry that the world’s phosphorus supply will slowly diminish, limiting our ability to grow crops and forcing fertilizer prices through the roof. Phosphorous is essential to plant growth. Mined out of phosphate rocks, it is one of the […]

Gore to unveil $300 million warming campaign

NASHVILLE, Tenn. – Nobel prize winner and former Vice President Al Gore plans to launch a three-year, $300 million advocacy campaign calling for the United States to reduce its greenhouse gas emissions. The Alliance for Climate Protection’s “We Campaign” will combine advertising and online organizing and advertising with grassroots groups. It is aimed at educating […]

Larson Ponders Curbs To Oil Market Speculation

U.S. Rep. John Larson wants to rewrite the rules of how oil is bought and sold, blaming investor speculation for record prices that have raised the cost of home heating oil. Flanked by heating oil dealers from around Connecticut, Larson, D- East Hartford, said in Hartford Monday that he is trying to build support in […]

What would you ask Big Oil?

Congress is set to grill oil executives over tax breaks Tuesday. But with record gas prices and company profits, the public has more on its mind than just IRS policy. NEW YORK (CNNMoney.com) — Under the backdrop of record gas prices and record profits, Congress is set to grill executives Tuesday from the world’s five […]

Oil In a Week (The Battle of Basra and its Oil Dimension)

No Arab oil industry has witnessed the difficulties and challenges facing the oil sector in Iraq over the past 25 years, especially during the past five years of occupation. Currently, a battle is raging for political control over Basra, Iraq’s only marine gateway, its second largest city, and the source of almost 90% of its […]

Oil firms are caught in a squeeze play

Investor-owned oil majors like Exxon will no longer be able to increase their reserves, say analysts, because of new attitudes in oil-producing nations The performance and strategy of Exxon Mobil Corp. is a good place to start in grasping the twilight years of the investor-owned oil sector that has dominated the extraction of petroleum resources […]

American West Heating Nearly Twice As Fast As Rest Of World

ScienceDaily (Mar. 30, 2008) … The Colorado River Basin is in the throes of a record drought, shrinking water supplies for upwards of 30 million people in fast-growing Denver, Albuquerque, Las Vegas, Phoenix, Los Angeles and San Diego. Most of the Colorado River

Project To Help Power Developing Nations Underway

ScienceDaily “These reactors hold the promise of economic development because they are projected to be able to be built in just a little more than half the time required to build a large power plant,” said ORNL’s Dan Ingersoll, a member of the Nuclear Technology Programs Office and Global Nuclear Energy Partnership national campaign director. […]

Conservative magazine blasts Bush oil policy in Iraq war

Just in case you think all conservatives are cheering on President Bush for persisting in his war against Iraq, I call to your attention the March 10th cover story of “The American Conservative” magazine, titled, “Oil For War.” Accompanying the drawing of a fuel hose pumping gasoline into the desert sands, which is what the […]

Hawaii: Government searches for ways to help airline

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…U.S. Rep. Neil Abercrombie, who met with Aloha employees last week, said, “Their lives are collapsing in front of them.” In the hope of lowering fuel costs and increasing the airline’s cash flow to save the airline, Abercrombie said he will send a letter to President Bush today asking him to release fuel from the […]

How many things can go wrong all at once, and still be managed?

How many things do you figure can go wrong all at once, and still be managed? I understand that your plate is pretty full already, with the war going poorly, the economy imploding, polar ice sheets collapsing due to global warming and all. Some days it all seems too much. So we avert our gaze […]

Jewish group slams Swiss-Iran gas deal

U.S. questions whether contract violates sanctions BERN, Switzerland: The World Jewish Congress criticized Switzerland on Monday for participating in a gas deal with Iran that it condemned as a propaganda triumph for Tehran’s hard-liners. Foreign Minister Micheline Calmy-Rey traveled to Iran in mid-March to sign a deal between the Swiss energy trading company EGL and […]

Those who control oil and water will control the world

New superpowers are competing for diminishing resources as Britain becomes a bit-player. The outcome could be deadly History may not repeat itself, but, as Mark Twain observed, it can sometimes rhyme. The crises and conflicts of the past recur, recognisably similar even when altered by new conditions. At present, a race for the world’s resources […]

The paradox of production

One of the things that makes the challenge of peak oil so insidious, and so resistant to quick fixes, is the way in which many things that seem like ingredients of a solution are actually part of the problem. Petroleum provides so much of the energy and so many of the raw materials we take […]

Libya to Redefine All Contracts with Oil Companies

The Libyan government says it will review all future contracts with oil companies in a bid to reap more benefit for the country, a senior Libyan government official told Dow Jones Newswires. “Libya is going back to renegotiate all its oil contracts,” Libya’s national representative at the African Petroleum Producers’ Association, Seddigui N. Ismail said […]

Diesel Shortage Spreads to Beijing

China PetroChina, the other China oil heavy, weighed in with a similar explanation, saying that the tight diesel supply in neighboring provinces was forcing many vehicles to seek refueling in Beijing, which had not hitherto been affected by the problem, leading to an unexpected increase in diesel sales and disorder in diesel delivery. It went […]

Michael Klare: The Architects of War

Within the Bush administration, the ‘military option’ remains as popular as ever. What more fitting way for the Bush Administration to observe the fifth anniversary of the invasion of Iraq than to send its principal architect, Vice President Dick Cheney, to Baghdad to rally dispirited U.S. troops for years more of futile sacrifice? “It’s been […]

Truckers to protest fuel costs

Facing mounting diesel fuel costs and shrinking profits, some truckers nationwide are making plans to protest this week by parking their semis or clogging traffic by driving slowly. The truckers say average diesel gas prices, which AAA reported had risen over the past month from $3.38 to $3.91 a gallon nationally as of Friday, are […]

Down-home apocalypse

Dark days are coming. Oil will run out, temperatures will rise, governments will crumble and survivors will be forced to scratch out a preindustrial existence amid the detritus of the 20th Century. James Howard Kunstler warned as much in his 2006 book of social criticism, “The Long Emergency.” And he stays on-message in his new […]

Lebanon’s top Shiite cleric bans attacks against public utilities in Iraq

BEIRUT, Lebanon: Lebanon’s top Shiite Muslim cleric has issued a religious edict banning attacks on public utilities in Iraq, mainly the oil industry. Grand Ayatollah Mohammed Hussein Fadlallah says in a statement that Iraqis should work for stability in their country otherwise they will be helping the “occupation.” “We stress the contents of the fatwa […]

Gazprom ups pipeline costs, delays oil project

MOSCOW (Reuters) – Russia’s gas export monopoly Gazprom acknowledged on Monday it was facing delays and cost overruns at two key projects, a pipeline to Europe and an Arctic oil development. The world’s largest gas firm said in a memorandum for investors ahead of its Eurobond issue that its Nord Stream pipeline to Germany under […]

UK: Energy Minister Malcom Wicks grants change for green energy

New rules designed to help homeowners, schools and hospitals to install climate-friendly generators will be announced today by the Energy Minister. Malcom Wicks will give details of the funding as part of changes to the Low Carbon Buildings Programme in which the cap on grants will be raised to 50 per cent of the costs. […]

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