Insight and inspiration in turbulent times.
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MYTH NO. 3: We’re running out of oil.
REALITY: This one is true. Sort of. Unlike wind or water, oil is not a renewable resource. So by definition we’re using it up, in the same way that we are all dying all the time. …
The real problem with the peak-oil argument has less to do with engineering than with philosophy. It lacks imagination.
Its looking increasingly like politics will decide who gets to build LNG regasification facilities for California – shame about the engineering issues, writes Martin Hastings.
Hour-long interview with geologist Kenneth Deffeyes, author of “Beyond Oil: The View from Hubbert’s Peak: on C-SPAN2 at 12 midnight (Eastern Time) Sunday night/Monday morning.
Ecuador’s army has stepped up efforts to quell protests which have crippled production in the oil-rich Amazonian region of the country.
What those who see oil production just as a process limited by price, are NOT getting is that rigs and pipe and cement and energy are all costs that oil producers have to pay. And that additional cost is also reflected in the new higher prices for everything made with oil. As we look harder and harder for more oil, this demand drives prices for the equipment and materials we use through the roof.
With gasoline nearly $3 gallon, there needs to be a mainstream discussion of the alternatives.
International oil companies have advertising campaigns warning that the world is running out of oil and calling on the public to help the industry do something about it.
Most of the executives ofThe world’s five largest energy groups generally maintain that oil projects are viable with the price at which they test a project’s viability is within the around $20 a barrel. range. But their advertising and some of their companies’ own statistics appear to tell a different story.
Matthew Simmons, an oil industry analyst and CEO of Simmons & Company International, will be online Thursday, August 4, at 3 p.m. ET to discuss Saudi oil supplies.
If anything merits drawing the filibuster sword out of its sheath, it is the energy bill that came out of a House/Senate conference this week.
The US House and Senate have finally passed the long-awaited energy bill. The response from several US newspapers: “We’re underwhelmed.” Also, the EPA held back a report on fuel efficiency until after the bill was passed.
“It took us 125 years to use the first trillion barrels of oil,” notes Chevron Corporation’s two full-page ad that began appearing in July in the Wall Street Journal, the Economist, Financial Times and elsewhere. “We’ll use the next trillion in 30,” the ad continues, thus quietly admitting to the Peak Oil that the industry has not previously disclosed.
