The world is slowly going mad: we have the Premier of Alberta saying that the ecological downsides of extracting oil sands is a “myth”, yet we all know that oil sands development is the most ecologically destructive process ever invented by the oil industry (see below). We also have the US government saying that the … Read More
Peak Oil
Saudis Embark on PR Exercise to Show World They Have Enough Oil
Slowly but surely the unthinkable is becoming thinkable. The days of “peak” are fast approaching, and such is the shortage of new areas coming on stream that there is a “production ceiling” to the amount of oil that can be pumped per day to an ever thirsty world. Take the Wall Street Journal this morning. … Read More
Twelve Dollars a Year
In the late winter of 2006, the citizens of Burlington, Vermont prepared to elect one of five candidates to a three-year term for an open mayor’s seat. At one forum, a citizen stood up and asked, “Within the next mayoral term, it’s likely the price of oil will hit $90 a barrel and gas will … Read More
World Oil Output Struggling, Say Arab Experts
Leading figures from the Middle East oil industry have added their voices to those warning that the world is struggling to sustain rising oil production. “There is a real problem — that supply may not be possible to increase beyond a certain level, say around 100 million barrels,” Libya’s National Oil Corporation chairman Shokri Ghanem … Read More
Oil Output “Already Peaked”
World oil production peaked in 2006 and will fall by half as soon as 2030, according to a report which also warns that extreme shortages of fossil fuels will lead to wars and social breakdown The German-based Energy Watch Group’s report predicts that production will now fall by 7% a year.
$100 A Barrel “Next Year”
As oil prices hit another record, breaching the $81 a barrel mark for the first time, there is yet another warning that the oil price is likely to hit US$100 a barrel by the end of next year. This is due to soaring rates of domestic oil consumption in the world’s leading oil producing nations … Read More
Peak Oil: US Expert Calls on Australia to Act
The former White House consultant, Roger Bezdek, who is on a trip to Australia, has urged the Oz federal government to rigorously assess the looming impact of peak oil. He called for the government to create an independent body to study peak oil and create solutions ahead of a “liquid fuels crisis”.
A World Without Oil
The day after being attacked by Tony Blair for its reporting, the Independent newspaper once again leads on a story of huge importance. The paper looks at how leading scientists have criticized BP’s Annual Review of the world’s remaining oil reserves, warning that the end of oil is coming sooner than governments and oil companies … Read More
Peak “Will be 2020” – One More Opinion
Development of the remaining untapped oil reserves will push world production to its ultimate peak as early as 2020, before a long, slow decline begins near mid-century, according to petroleum geologists, speaking at their annual conference. “The peak in world oil production is not imminent, but is nevertheless foreseeable,” said Richard Nehring, an independent petroleum … Read More
GAO: The US Needs a Peak Oil Strategy
Ok so there is a raging peak oil debate out there. The Peak oil pundits say we are in real trouble, the oil industry say that there is enough oil for the meantime not to worry. But now the US Government Accountability Office has waded into the controversy. It has undertaken a Peak Oil study … Read More