Assumption of safety behind Fukushima debacle

The widespread assumption that nuclear plants were safe was behind the March 2011 accident at the Fukushima No. 1 nuclear plant, the International Atomic Energy Agency said in its final report on the crisis. Before the catastrophe, “there was a basic assumption in Japan that the design of nuclear power plants and the safety measures […]

Europe Oil Consumption Peaked in 2005

This is the 3rd article using data from the BP Statistical Review published in June 2015. Fig 1: Western Europe oil consumption, oil prices in $2014 Total oil consumption peaked 3 times at around 14 mb/d: (1)   In 1973, the 1st oil crisis which was triggered by the Yom Kippur war. The following OPEC embargo was […]

New ‘Super Giant’ Natural Gas Field Could Be Straw That Breaks OPEC’s Back

A new super-giant natural gas field could prove to be the largest ever discovered on earth and also end up satisfying energy demand in parts of the Middle East and the Mediterranean for decades to come. Italian energy firm Eni made the find off the northern Egyptian coast. According to the company, there could be […]

Peak Oil Ass-Backwards: Peak Oil, Meet Fractional-Reserve Banking

  If the ongoing crash of oil prices over the past  year – and now the stock market crashes of last week – have continuously taught me one thing, that would be that I’ve got very little clue regarding the economic implications of peak oil. To explain this I’ll have to take a circuitous, roundabout […]

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