Peak Oil is You

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News from June 2010

PeakOil.com: Weekly Petroleum Supply Report 6.30.10

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PeakOil’s own Pup55 reviews the weekly EIA Petroleum Supply Report and pits his forecasting prowess against the so-called “experts”. The main driver of the decrease in crude oil was imports, like it always is, in this case the Captain Jack theory was incorrect since pricing was good last week, but imports were down to only […]

The Energy Transition Is Already Underway

Lately I’ve been struck by the number of new groups and proposals calling for America to begin the transition to cleaner energy. We even heard this call from the Oval Office several weeks ago. Yet while there’s clearly much more to be done to wean ourselves from our reliance on oil and other high-carbon fuels, I’m baffled […]

Colin Campbell on Peak Oil

Colin Campbell demonstrates peak oil using an irish pub table and several stouts!

Cantarell Finally Slips Below 500 kbpd

t’s odd that people believe something truly new is possible in the world of global oil discovery. Oil deposits on earth follow a fairly well defined pattern: a handful of giant fields, and a great number of smaller fields. Unsurprisingly, 150 years of oil exploration and discovery has done nothing to upend this distribution. The giant fields were all found earlier in the oil age. Now we are into the latter part of the oil age, when the large fields have peaked and gone into decline, and we spend more capital, more labor, and more energy to extract oil from the smaller fields.

Shell: deep-water oil drilling will go on

“Given the rise in the population and the rise in the developing world of energy needs, we will have to develop those resources in deep waters, so my expectation is that we will go forward with it, but it will need some changes,” Voser told the Fortune Global Forum in Cape Town.

more.

NYT: Is a New Reactor Rust-Prone?

Courtesy of Arnold Gundersen, Fairewinds Associates An expert warns that an air pathway in a new reactor design could open the way for the release of radioactive materials.Approval of the design for the Westinghouse AP 1000 reactor is slowly moving forward at the Nuclear Regulatory Commission, as are financial arrangements for building the nation’s first […]

The EU’s Solar Science Fiction

Solar energy in Europe remains, by far, the most expensive energy source and it will be years before it can compete, even with other renewable sources. Germany, Italy, and especially Spain, once shining examples for the solar industry, have backtracked on their initial embraces of solar and are now cutting subsidies. Indeed, earlier this year, […]

Natural Gas as Panacea: Dubious Path to a Green Future

Many energy experts contend natural gas is the ideal fuel as the world makes the transition to renewable energy. But since much of that gas will come from underground shale, potentially at high environmental cost, it would be far better to skip the natural gas phase and move straight to massive deployment of solar and wind power.

Can we feed our world without Monsanto?

Every minute of every day, our global family welcomes 255 babies into the world. That’s 134 million new mouths to feed every year, for a total population increase of 2.2 billion in the next thirty years. Hugh Grant, the CEO of agricultural giant Monsanto, often cites the world’s booming population as the core reason global […]

Kunstler : Say What?

Wall Street – in particular the biggest “banks” – packaged up and sold enough swindles to unwind 2500 years of western civilization. You simply cannot imagine the amount of bad financial paper out there right now in every vault and portfolio on the planet. Enough, really, to sink any company even pretending to trade in […]

Clinton’s Solution to BP Oil Gusher: Blow it Up

Bill Clinton says the Navy may need to step in and blow up the oil well to stop further leaks.

Global oil demand to outgrow decline

2010 demand level is 86.4 million b/d in the most recent Medium-Term Oil Market Outlook, compared with the 84.3 million b/d projection a year ago. That additional “wedge of demand” relative to the expectations of a year ago translated to an increase in the expected call on the Organization of Petroleum Exporting Countries’ crude in […]

The Fake Fire Brigade – How We Cheat Ourselves about our Energy Future

The future of fossil fuels, particularly of oil, but also many other resources including water and minerals, looks problematic. People keep discussing proven reserves and whether peak oil already has arrived or not. Unfortunately, we will only be able to put this argument to rest in hindsight. But what is more important is the fact […]

Interview with Jeff Rubin, chief economist at CIBC World Markets

Rubin: I’m not sure that it’s really going to matter what those folks think or say any more because those folks, especially CERA and the International Energy Agency, have lost so much credibility on this issue that I don’t think people are going to be terribly concerned about their view on oil supply. They’ve been […]

Iran oil sales fall by 24 percent

Iran’s oil sales dropped by more than 24 percent to $59.5 billion in the 11 months ending February 2010, according to a report by Fars News Agency. The figure showed a 24.3 point decline compared to the same period in the previous year, when Iran’s oil sales stood at $78.6 billion, the report said. Non-oil […]

Curious Move in United States Oil Fund (USO)

Market movements aside, two recent events also signal longer-term bullish for commodity and commodity-related ETFs in general. Back in February, Bloomberg reported that China’s sovereign wealth fund–China Investment Corp.–invested for the first time in the U.S. Oil Fund (USO) and became the fourth-largest holder with a value of $78.6 million. Chesapeake Energy (CHK) also announced […]

Should water be a commodity?

The era of water at throwaway prices is coming to an end. I have long argued that we need to set a price that more accurately values our most precious commodity; the OECD and the World Bank are also moving in this direction, and have recently published reports suggesting the setting of a better price […]

India Cuts Subsidies for Fuels

Heavily subsidized fuels like kerosene, for instance, are used by many poor Indians for lighting and cooking. Moreover, opposition politicians have criticized the government for not doing enough to bring down escalating prices, especially for food. Consumer prices jumped 14.4 percent in April from a year earlier. The opposition Communist Party of India (Marxist) called […]

Robert Hirsch on Peak Oil

Hisch is a consultant for the US Dept of Energy. Author of the famous “Hirsch Report”

Our “End of the Economy” moment

When we work with peak oil newcomers, we help them understand the significant role that oil plays in our life. We invite them to imagine what life might be like with far less oil to fuel our transportation, far less oil to move ourselves and our goods around the planet. Stoneleigh’s talk about the economy […]

All The Facts Behind The World’s Water Crisis

1. By 2025, more than 2.8 billion people will live in 48 countries facing water stress or water scarcity, a recently revised United Nations medium population projected. Of these 48 countries, 40 are either in the Near East and North Africa or in sub-Saharan Africa. Over the next two decades population increase alone—not to mention […]

Laughs for doomers

“On the whole, I’m sorry to say, we’re a failed species.” Yelnikoff, played by Larry David, is an aging former Columbia University physics professor who has divorced his wife, moved to a dingy (but affordable) New York apartment, and taken up teaching chess to children to support himself. While the movie doesn’t explicitly tackle the […]

Coal Mining – Mechanized Room and Pillar Mining

The most common method of mining started with driving tunnels, and then intersecting these with “cross cuts” through the pillars of coal left to hold the roof (the top half of the cake) in place. As I showed in an earlier illustration (above), since it was easier to mine from free faces then the solid, […]

Homegrown Revolution: Urban Homesteaders

Since the mid 1980s, members of the Dervaes family have steadily worked at transforming their ordinary city lot in Pasadena into a thriving organic micro farm that supplies them with food all year round. These eco-pioneers also run a successful home business providing their surplus produce to local restaurants. Through their adventures in growing and […]

Asia and Japan — are looking more toward unconventional gas

Amid brightening prospects for increasing unconventional gas production and supply, energy ministers from the Asia-Pacific Economic Cooperation countries meeting recently recognized the need to explore ways to secure supplies coming from streams other than conventional gas. It was arguably the first recognition of the need to develop unconventional gas at any energy ministerial talks, which […]

The Climate Change Thought Police

my position has always been that I accept the scientific consensus on climate change, but also understand that science isn’t static. Therefore, it is important not to shut debate down and short-circuit the scientific process. But many climate change advocates have long sought to do just that by trying to intimidate people into not discussing […]

U.S. Military Surrounds Iran

Earlier in the week, the Pentagon confirmed that an unusually large fleet of U.S. warships had indeed passed through Egypt’s Suez Canal en route to the Persian Gulf. At least one Israeli warship reportedly joined the American armada. There are also Israeli nuclear armed submarines. Three German-built Israeli submarines equipped with nuclear cruise missiles are […]

Study Says Natural Gas Use Likely to Double

Natural gas will provide an increasing share of America’s energy needs over the next several decades, doubling its share of the energy market to 40 percent, from 20 percent, according to a report to be released Friday by the Massachusetts Institute of Technology. The increase, the report concluded, will come largely at the expense of […]

Portland Roundtable on Peak Oil

A Comparison of Soviet example and US prospects;A fascist future for the bankrupt former empire?

The Doomer’s Curse

The Doomer confuses his personal collapse with the “inevitable” collapse of society. (“Inevitable” is the keystone of the Doomer vocabulary and, as such, should be avoided whenever possible.) He suffers from a severe case of tunnel vision. Like a horse with blinders on, he can only see what’s immediately in front of him. Anything indicating […]

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